Iraqi political forces to hold a key meeting on the dollar crisis today: sources

Shafaq News/ Iraq's political forces will convene an expanded meeting today to ponder a strategy to address the country's financial crisis; multiple sources told Shafaq News Agency on Saturday.

"The political forces in the country are scheduled to hold a key meeting in Baghdad to discuss the dollar crisis and the outcomes of the Istanbul meeting between the Central Bank of Iraq (CBI) and the US Federal Reserve," a source said.

The meeting, according to multiple sources, will be headed by Prime Minister Mohammad Shia al-Sudani and Parliament Speaker Mohammad al-Halboosi.

"The meeting will issue a set of recommendations, including upholding the government's measures to control the forex market," a source said, "some of the recommendations will be presented to the parliament to vote them in."

Yesterday, the governor of Iraq's central bank, Ali al-Allaq, met the assistant secretary of the US treasury, Brian Nelson, and his accompanying delegation in Turkey.

They agreed to find a mechanism to stabilize the high value of the dollar against the dinar.

In a statement, the Central Bank of Iraq said that "The US Treasury confirmed its support for achieving economic stability in Iraq, in reference to strengthening what was discussed between Prime Minister Muhammad S. al-Sudani and US President Joe Biden in the phone call that took place yesterday".