Iraqi currency crash halts after meeting with U.S. official
Iraqi currency crash halts after meeting with U.S. official
BAGHDAD -
Iraq's currency ended its nosedive after a meeting between the Iraqi Central Bank head and a top U.S. Treasury official.
Under Secretary of the Treasury for terrorism and financial intelligence Brian E. Nelson said in a statement Saturday that he had met with Central Bank of Iraq Governor Ali al-Allaq in Istanbul the day before "to discuss banking sector reforms and a mutual commitment to anti-money laundering and countering the financing of terrorism."
He praised Iraq's "steadfast dedication" to improving its compliance with international standards and "offered continued co-operation in modernizing the banking sector," the statement said.
Measures taken by the United States in recent months to stamp out money laundering and the channelling of dollars to Iran and Syria from Iraq have severely restricted Iraq's access to hard currency.
Since the U.S. invasion of Iraq in 2003, Iraq's foreign currency reserves have been housed at the United States' Federal Reserve, giving the Americans significant control over Iraq's supply of dollars.
The Iraqi dinar slipped to around 1,750 to the dollar at street exchanges in some parts of the country on Thursday, compared to the official rate of 1,460 dinars for US$1. The devaluation has prompted protests and fears of inflation.
The currency began to halt its slide after Iraq's Central Bank said in a statement Friday evening that the Treasury had "expressed its readiness for the necessary flexibility to achieve common goals." As of Saturday, the dinar was trading at around 1,600 dinars to the dollar.
A delegation of Iraqi officials is set to travel to Washington next Friday.
Ottawa Police are investigating an attempted break-in at the residence of Prime Minister Justin Trudeau's national security adviser, the second such incident involving one of his top aides in recent months.
When two skiers collided on a beginner run at an upscale Utah ski resort in 2016, no one could foresee that seven years later, the crash would become the subject of a closely watched celebrity trial.
A Toronto man, whose neighbours vanished eight years ago and left their home completely abandoned, said he's fed up living next door to a property that is in complete disarray.
A candidate for the United Conservative Party in southern Alberta has resigned after she posted a video claiming children are being exposed to pornography in schools.
A scientist at CAMH says video games have similar addictive features to gambling which cause social isolation of the individual and dependency on the activity.
Prime Minister Justin Trudeau offered a brief initial response to the final report from the Mass Casualty Commission (MCC) into Canada's worst mass shooting, which claimed the lives of 22 people in Nova Scotia in 2020. Vowing changes will come, here's what Trudeau said in Truro, N.S.
The federal Liberals are trending downward on three key measures while Conservative Leader Pierre Poilievre has surpassed Prime Minister Justin Trudeau when it comes to the question of who Canadians would prefer now as their prime minister, according to Nanos Research.
Two-and-a-half years after it was established, Nova Scotia’s Mass Casualty Commission has recommended sweeping changes to everything from gun control to mental health services, although there’s no guarantee any will ever be implemented.
A scientist at CAMH says video games have similar addictive features to gambling which cause social isolation of the individual and dependency on the activity.
A judge has acquitted a now-retired priest of forcing himself on a residential school student more than 50 years ago, saying she believes an assault happened but could not determine beyond a reasonable doubt who did it.
A new government study highlights just how violent America's recent past has been by showing a surge in gunfire injuries during the COVID-19 pandemic, when the number of people fatally shooting each other -- and themselves -- also increased.
Nashville authorities released 911 calls Thursday that capture the terror inside an elementary school during the attack this week that left three children and three adults dead.
Former President Jair Bolsonaro arrived back in Brazil on Thursday after a three-month stay in Florida, seeking a new role on the political scene as authorities in the capital braced for the far-right populist's return.
A team of journalists from The Associated Press spent two days travelling by train with Ukrainian President Volodymyr Zelenskyy as he visited the southeastern city of Zaporizhzhia. Here are some takeaways from an interview with Zelenskyy.
King Charles III became the first monarch to address Germany's parliament, the Bundestag, on Thursday as part of a high-profile visit by the U.K. head of state aimed at bolstering ties between the two European powers.
Two U.S. citizens have been kidnapped in Haiti, State Department deputy spokesperson Vedant Patel confirmed on Thursday, adding that Washington is in regular contact with Haitian authorities and will continue to work with them.
Ottawa Police are investigating an attempted break-in at the residence of Prime Minister Justin Trudeau's national security adviser, the second such incident involving one of his top aides in recent months.
Gun policy comments made by then-RCMP commissioner Brenda Lucki in a contentious call to Nova Scotia RCMP officers after the mass shooting in 2020 did not amount to political interference, the Mass Casualty Commission (MCC) final report concludes.
When the doors close at night at the administration office at Yukon's Carcross Tagish First Nation, a van hits the road and drives through the communities to offer naloxone to reverse overdoses, drug testing kits, food and even a friendly face to help those struggling because of the opioid crisis.
New research suggests the classic image of a Tyrannosaurus rex with massive, sharp teeth might be wrong. A study in the journal Science suggests the teeth on a T. rex was likely covered by scaly lips and didn't stick out when its mouth was closed.
When two skiers collided on a beginner run at an upscale Utah ski resort in 2016, no one could foresee that seven years later, the crash would become the subject of a closely watched celebrity trial.
Camila Cabello credits the strong women in her life for her success as an artist and a person. So it was only natural that she was there to celebrate her grandmother's milestone -- the publication of a novel.
Actress Melissa Joan Hart says she was near Nashville's Covenant School soon after Monday's deadly shooting of six people, including three children, and helped some students get away from the scene.
Just a week after Airbnb tightened regulations for Quebec listings following a deadly fire, hosts may already be bending the rules. Airbnb now requires its hosts to provide a six-digit policy number with their listing, obtained when a tourist lodging is registered with the provincial government. But a scroll through the Airbnb website suggests users are falsifying their permit numbers to sneak past the authentication process.
The European Union must be prepared to develop measures to protect trade and investment that China might exploit for its own security and military purposes, European Commission President Ursula von der Leyen warned on Thursday.
For nearly a year, the average used vehicle in the United States had been edging toward affordable again for millions of people. Now, with the supply of used vehicles failing to keep up with robust demand, prices are creeping up again, with signs pointing to further increases ahead.
A scientist at CAMH says video games have similar addictive features to gambling which cause social isolation of the individual and dependency on the activity.
On March 30, 1923, exactly 100 years ago, the world's first continuous passenger cruise ship arrived back in New York City after completing a 130-day voyage.
Some of the biggest names in mens' tennis are participating in the Pickleball Slam -- the latest in a series of attempts to draw eyeballs to a sport taking over courts in neighbourhoods all over while still finding its footing on television.
Former Olympic runner Oscar Pistorius has applied for parole and is expected to attend a hearing on Friday that will decide if he can be released from prison 10 years after killing girlfriend Reeva Steenkamp by shooting her multiple times through a toilet door in his home.
For nearly a year, the average used vehicle in the United States had been edging toward affordable again for millions of people. Now, with the supply of used vehicles failing to keep up with robust demand, prices are creeping up again, with signs pointing to further increases ahead.
Closing out a half century of purely gasoline-powered V12 cars going back to the brand's earliest models, Luxury Italian sports car designer Lamborghini has unveiled its first supercar with a charging port.
After claiming his 100th podium in Saudi Arabia in confusing and controversial circumstances, Fernando Alonso is looking for a better result at Sunday's Australian Grand Prix than his two third-place finishes so far this Formula One season.
