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Large and dangerous" economic risks await Iraq if it becomes involved in the Iran-Israel conflict
Economy 10-2-2024, 15:43 |
Baghdad today - Baghdad
Economic expert Ahmed Al-Tamimi warned today, Wednesday (October 2, 2024), of the economic danger of dragging Iraq into conflict with the United States of America. Al-Tamimi said in an interview with “Baghdad Today” that
“trying to drag Iraq into conflict with the United States of America has great and dangerous economic risks for the internal Iraqi situation, especially since
the economic situation is still completely controlled by the American dollar, and
any conflict with Washington will prompt a dollar crisis.”
This could paralyze the Iraqi economy.” He stated that
"Iraq depends for everything regarding its various imports on the dollar, through legal frameworks through the platform or through the parallel market, and
any American step towards Iraq regarding the dollar will have serious effects on all Iraqi markets, and
for this reason one must be careful not to drag Iraq into conflict with America."
Therefore, Iraq would like to maintain good financial, economic and other relations with the American side to ensure the stability of its economic conditions.
Professor of International Economics, Nawar Al-Saadi, revealed on Sunday (September 29, 2024) how Lebanon’s developments will affect the Iraqi economy and the oil market during the next stage. Al-Saadi said in an interview with "Baghdad Today",
"With regard to the impact of the recent events in Lebanon on the Iraqi economy and the oil market,
we can say that the repercussions will be different based on several factors, the
first of which is that the Iraqi economy depends heavily on oil exports, and
any major escalation in the region." It may lead to a rise in oil prices in the short term due to fears of supply disruption or increased geopolitical risks in the Middle East region.
This rise may be positive for Iraq in terms of oil revenues, but it may impose new challenges related to revenue management and the stability of financial markets.” He stated,
“On the other hand, supply chains may be affected if the situation deteriorates further, especially if navigation or air transport lines in the region are disrupted under these circumstances, and
Iraq may face challenges in importing basic materials or equipment necessary for industrial projects, which "It may put pressure on development plans." Al-Saadi added,
“With regard to the influence of the Iraqi armed factions, any direct or indirect interference in the conflict may expose Iraq to American pressure, including imposing restrictions on dealing in the dollar, and
the United States previously used the card of banning the dollar to pressure governments, especially those that...
“It contributes to regional destabilization, which may deepen the financial crises in Iraq and increase the cost of foreign trade transactions.”
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Economy 10-2-2024, 15:43 |
Baghdad today - Baghdad
Economic expert Ahmed Al-Tamimi warned today, Wednesday (October 2, 2024), of the economic danger of dragging Iraq into conflict with the United States of America. Al-Tamimi said in an interview with “Baghdad Today” that
“trying to drag Iraq into conflict with the United States of America has great and dangerous economic risks for the internal Iraqi situation, especially since
the economic situation is still completely controlled by the American dollar, and
any conflict with Washington will prompt a dollar crisis.”
This could paralyze the Iraqi economy.” He stated that
"Iraq depends for everything regarding its various imports on the dollar, through legal frameworks through the platform or through the parallel market, and
any American step towards Iraq regarding the dollar will have serious effects on all Iraqi markets, and
for this reason one must be careful not to drag Iraq into conflict with America."
Therefore, Iraq would like to maintain good financial, economic and other relations with the American side to ensure the stability of its economic conditions.
Professor of International Economics, Nawar Al-Saadi, revealed on Sunday (September 29, 2024) how Lebanon’s developments will affect the Iraqi economy and the oil market during the next stage. Al-Saadi said in an interview with "Baghdad Today",
"With regard to the impact of the recent events in Lebanon on the Iraqi economy and the oil market,
we can say that the repercussions will be different based on several factors, the
first of which is that the Iraqi economy depends heavily on oil exports, and
any major escalation in the region." It may lead to a rise in oil prices in the short term due to fears of supply disruption or increased geopolitical risks in the Middle East region.
This rise may be positive for Iraq in terms of oil revenues, but it may impose new challenges related to revenue management and the stability of financial markets.” He stated,
“On the other hand, supply chains may be affected if the situation deteriorates further, especially if navigation or air transport lines in the region are disrupted under these circumstances, and
Iraq may face challenges in importing basic materials or equipment necessary for industrial projects, which "It may put pressure on development plans." Al-Saadi added,
“With regard to the influence of the Iraqi armed factions, any direct or indirect interference in the conflict may expose Iraq to American pressure, including imposing restrictions on dealing in the dollar, and
the United States previously used the card of banning the dollar to pressure governments, especially those that...
“It contributes to regional destabilization, which may deepen the financial crises in Iraq and increase the cost of foreign trade transactions.”
[You must be registered and logged in to see this link.]
