Iraq: US Did Not Impose Conditions over Dollar Crisis

Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
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Iraq: US Did Not Impose Conditions over Dollar Crisis

Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)

Iraq denied claims that the US had imposed conditions on its delegation, which recently visited Washington, regarding the dollar exchange issue.

An Iraqi delegation, headed by Foreign Minister Fuad Hussein, had visited Washington and met with Secretary of the State Antony Blinken earlier this month.

During a press conference in Baghdad on Monday, Hussein denied that conditions were imposed on the delegation, noting that the electronic platform launched by the Central Bank of Iraq (CBI) would determine benefit from the dollars and help end smuggling.

He explained that the delegation included officials from various sectors, including senior officials from the financial and banking industries. He added that the visit addressed political issues, but mainly focused on the economy, fighting corruption, and combating ISIS terrorism.

He assured the Iraqi people "the financial and oil cover proves that the Iraqi currency is strong," adding that the dollar crisis occurred because of the electronic financing system.

Moreover, he revealed that the SWIFT platform had uncovered many manipulations and counterfeit bills. It will help stop and prevent dollar smuggling and determine the number of dollar bills in the market.

Hussein indicated that Iraq is a "consumer society" and imports many of its needs, which requires the availability of dollars, noting that Iraqi reserves exceeded $100 billion.

He added that it is only a matter of time before the exchange rate stabilizes.

The minister also denied reports that Iraq was seeking to normalize relations with Israel, asserting that it was not discussed with the US officials or any political blocs.

Meanwhile, the US Treasury announced that Iraq's possession of US bonds rose to more than $40 billion.

The Treasury said Iraq's possession of US Treasury bonds surpassed $40 billion, rising from $39.717 billion in October 2022. This marked an increase of 81.4 percent compared to the same month in 2021.

Iraqi bonds, including long-term guarantees, amounted to $28.239 billion, and short-term guarantees amounted to $12.575 billion, representing 0.55 percent of the world's bonds.



Israeli Forces Have Completed Encirclement of Gaza’s Rafah, Military Says

 Displaced Palestinians flee from east to west of Gaza City after the Israeli military issued evacuation orders in the area, Friday April 11, 2025. (AP)
Displaced Palestinians flee from east to west of Gaza City after the Israeli military issued evacuation orders in the area, Friday April 11, 2025. (AP)
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Israeli Forces Have Completed Encirclement of Gaza’s Rafah, Military Says

 Displaced Palestinians flee from east to west of Gaza City after the Israeli military issued evacuation orders in the area, Friday April 11, 2025. (AP)
Displaced Palestinians flee from east to west of Gaza City after the Israeli military issued evacuation orders in the area, Friday April 11, 2025. (AP)

Israeli forces have completed the encirclement of Gaza's Rafah, the military said on Saturday, part of an announced plan to seize more areas of the enclave, accompanied by large-scale evacuations of the population.

The military has issued repeated evacuation warnings to hundreds of thousands of Palestinians across Rafah since it resumed operations in Gaza on March 18, forcing them into a diminishing space limited by the sea.

Israel said on April 2 that troops had begun seizing an area it called the Morag Axis, a reference to a former Israeli settlement once located between the cities of Rafah and Khan Younis, in southern Gaza.

Hundreds of thousands of Palestinians have since fled Rafah, a 60 square km area that borders Egypt to the south.

"Over the past 24 hours, the 36th Division's troops completed the establishment of the Morag route, separating Rafah and Khan Younis," the military said on Saturday.

The Israeli offensive in Gaza was launched after Palestinian group Hamas attacked southern Israel on October 7, 2023, killing some 1,200 people and taking 251 hostage, according to Israeli tallies.

More than 50,000 Palestinians have since been killed in the offensive, according to health authorities in the Hamas-run enclave. Most of the population has been displaced and much of Gaza is in ruins.

Israel restarted the offensive in March after effectively abandoning a ceasefire in place since January. The campaign will continue, it says, until the remaining 59 hostages are freed and Hamas is stamped out of Gaza.

Hamas says it will free hostages only as part of a deal that will end the war and has rejected demands to lay down its arms. A Hamas delegation was expected in Cairo over the weekend to discuss new truce proposals, according to a source in the group.