US Resumes Cash Dollar Shipments to Iraq Amid Ongoing Reforms
The US has agreed to resume cash dollar shipments to Iraq after a months-long suspension. According to Iraqi government spokesman Haider al-Aboudi, the resumption follows steps taken by the Iraqi government to tighten oversight of dollar distribution and curb misuse of foreign currency.
Al-Aboudi stated that Prime Minister Ali Faleh al-Zaidi reached an understanding with US officials during his visit to the country. The agreement is expected to help meet Iraq's domestic demand for foreign currency, as the country's foreign currency reserves are held in an account at the Federal Reserve Bank of New York.
A new shipment of cash dollars is set to arrive in the coming days, but the value and delivery date were not disclosed. The suspension of transfers was implemented in April this year, with a consignment estimated at around $500 million being halted as the US pressed Iraq to curb the influence of Iranian-backed militias.