Economic: There is no agreement granting Washington the right to manage the Iraqi economy.

The economic expert Ahmed Abdel-Rehab confirmed today, Saturday, that there is significant American influence in the Iraqi economy, pointing out that there is no agreement granting Washington the right to manage the Iraqi economy.

Abdel-Rehab stated in a press interview that “Iraq is sovereign, has its constitutional institutions, its government, and its central bank, and there is no agreement that grants the United States the right to manage the Iraqi economy or make economic decisions on behalf of the Iraqi government.”

He added that “it is important to distinguish between legal sovereignty and practical economic influence, as the United States possesses important tools of influence in the Iraqi financial system, and there must be measures to reduce this and prioritize national interest.”

The financial and economic reality in Iraq faces rising pressures and a dangerous turning point, amid unprecedented leaps in the size of public domestic debt and the continued reliance on patchwork policies and quick fixes that defer crises and drain citizens' livelihoods.