Economy News

Signing an agreement concerning the mechanism of financial payment between Iraq and Iran

The Central Bank of Iraq and its Iranian counterpart signed an agreement on the mechanism of financial payment between the two countries.

“An agreement was signed with the Central Bank of Iraq on the mechanism of financial payment related to the exports of electricity, gas and other Iranian goods to Iraq,” IRNA news agency reported.

“We are currently witnessing a significant volume of exports, whether in the public sector or the private sector, but there are some obstacles in the banking and financial, which expose exporters to problems in this area.”

“During this two-day visit, I will hold talks with the Governor of the Central Bank and the Iraqi Finance Minister on the issues and obstacles that exist in order to reach the desired result in this area,” Hamati said.

Iraq imports electricity from Iran through four lines and a capacity of 1,000 megawatts, while importing dry gas to operate some power plants. Iran is also one of the countries on which Iraq relies heavily on imports of goods and goods. Source