Iraq, US review financial and economic cooperation
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, the US Deputy Secretary of the Treasury, Wally Adeyemo, and officials from both sides. Photo: PMO
Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, discussed on Monday areas of cooperation between Iraq and the United States in the financial, banking, and economic fields with the US Deputy Secretary of the Treasury, Wally Adeyemo.
Al-Sudani received Adeyemo and his accompanying delegation at his residence in Washington DC with the attendance of the governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, according to a statement released by the Prime Minister’s Office (PMO).
The meeting addressed the steps taken by the Iraqi government to reform the financial and banking sectors.
Adeyemo commended the CBI’s protocols for initiating the operations of Iraqi banks and facilitating financial transfers through correspondent banks, which accounted for 80 percent of the total financial transfers, as well as the steps taken by the Iraqi government to accomplish economic reforms and its efforts to maximize energy investment.
In coordination with the CBI, the two parties underscored the necessity of maintaining cooperation on financial and banking reform, as well as the potential for cooperation in the rehabilitation of banks that have been placed under special procedures by the US Department of the Treasury in order to bring them into compliance with recognized international standards.