Iraq, US Strike Deal to Restart Dollar Shipments After Standoff
Spokesman Haider al-Aboudi told an Iraqi news agency that the breakthrough came during a visit to Washington by Prime Minister Ali Faleh al-Zaidi, and that the renewed shipments are intended to ease Iraq's ongoing need for foreign currency.
"A new shipment will arrive in the coming days," al-Aboudi said, though he stopped short of revealing the shipment's value or a firm delivery timeline.
According to al-Aboudi, the deal comes on the heels of measures taken by Baghdad to sharpen its oversight of dollar distribution, crack down on currency misuse, and push forward the expansion of electronic payments — part of a broader push toward a more digitized economy.
The US had halted dollar cash deliveries to Iraq back in April, a suspension that included a shipment worth an estimated $500 million, as Washington ramped up pressure on Baghdad to rein in the influence of Iran-backed militias.
For Iraq's heavily cash-dependent economy, these dollar shipments carry outsized weight. The country's foreign currency reserves remain parked in an account at the Federal Reserve Bank of New York.
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