ERBIL, Kurdistan Region - Iraqi Foreign Minister Fuad Hussein said on Thursday that both the Iraqi Central Bank and the US Department of Treasury have excellent cooperation, adding that the recent devaluation of the Iraqi dinar against the American dollar was temporary.
Hussein, who led a top Iraqi delegation to Washington on Wednesday, held meetings with several US officials. He told Rudaw the next day that the meetings were with senior officials from the US Department of Treasury and Department of State.
“They all support the Iraqi government’s policy and the measures the Iraqi Central Bank has taken. There is very good cooperation between the Central Bank and the US Department of Treasury,” Hussein told Rudaw’s Diyar Kurda.
The Iraqi dinar had dramatically lost its value against the US dollar in recent months, attributed to corruption, smuggling dollars into Iran, and pressure from the United States. However, it rebounded earlier this week after Baghdad started distributing dollar at a lower price.
The Iraqi government has taken several steps to curb further devaluation of dinar and stabilise it. Hussein sad the recent devaluation was temporary.
Responding to Rudaw’s question, Ned Price, spokesperson for the US Department of State, said during a presser that “We are committed to expanding all facets of that bilateral relationship,” mentioning the fight against corruption as well as improving the private sector, jobs and public services.
Douglas Silliman, former US ambassador to Iraq, told Rudaw on Thursday that Washington has been trying to find ways to “get the Iraqi government to deal with Iran.”
“Iran has not been flexible and needs to be flexible, and it is using an inflexible position to force Baghdad to choose between the United States and Iran - the same is probably true of global transactions as well… I don’t see any reason that Washington should facilitate the transfer of dollar to Iran or to Russia because that’s against the interests of the United States,” he added.
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