Iraqi Government Spokesperson reveals agenda for PM's meeting with US President
Shafaq News/ Bassam Al-Awadi, the spokesperson for the Iraqi government, disclosed the topics on the agenda for Prime Minister Mohammed Shia al-Sudani's discussions with US President Joe Biden.
The two leaders would meet today, Monday, in Washington.
Speaking to CNBC Arabia, Al-Awadi revealed that the discussions during their visit to the US and the meeting with the US President "extend beyond the scope of US sanctions on certain Iraqi banks. The agenda encompasses various subjects, including political matters, transportation, finance, and banking sectors."
Al-Awadi pointed out that specific measures outlined by the US Treasury, initially slated for implementation in 2020 under previous administrations, were not executed as expected.
"The US administration had communicated to prior governments the necessity of organizing and establishing a robust banking infrastructure in Iraq within a two-year timeframe, a directive that wasn't fully adhered to." He said.
Addressing the evolution of Iraq's banking sector, Al-Awadi indicated that the "framework laid down in 2008 resulted in the emergence of an intermediary class, explicitly referring to currency exchangers."
Moreover, he said that a shift away from dollar-centric trade has been encouraged in Iraq, with the government actively promoting the use of partner countries' currencies in commercial exchanges, aligning with demands from the US Treasury.
Al-Awadi indicated "Iraq's capability to diversify its reliance on currencies for trade, citing the Indian rupee, Chinese yuan, and Turkish lira as viable alternatives." Adding, "there was a recent agreement with the UAE to conduct trade transactions in the Emirati dirham."
Regarding Iraq's external debts, which amount to approximately $9 billion, Al-Awadi clarified that a significant portion is owed to institutions such as the International Monetary Fund and the World Bank.
"In a move to curb illicit financial activities, the Iraqi government has activated various measures aimed at preventing the unauthorized transfer of dollars to Iran," Al-Awadi explained.
Marking his first visit to the United States since assuming office in October 2022, Al-Sudani arrived in Washington on Sunday on an official visit, leading a high-ranking government and parliamentary delegation. He is scheduled to meet with President Joe Biden this evening.
A government source unveiled to Shafaq News Agency details of Al-Sudani's visit to Washington, which marks a diplomatic endeavor.
According to the source, the 5-day visit encompasses three states, Washington, Michigan, and Houston, "showcasing a comprehensive engagement with various sectors and stakeholders."
"Al-Sudani is scheduled to meet with key figures, including US President Joe Biden, Secretary of State Antony Blinken, and the Secretary of Defense, Lloyd Austin, at the Pentagon to delve into crucial bilateral matters." The source explained.
Additionally, Al-Sudani's itinerary includes sessions with representatives from US energy companies and engagements with the Iraqi community across the visited states "to foster deeper ties and explore avenues for collaboration beyond traditional diplomatic spheres."
