VOL. XLIII

No. 44

30-OCTOBER-2000

IRAQ

Iraq Plans To Halt Foreign Transactions In Dollars And To Convert Escrow Account To Euros

Iraq has moved closer to banning the use of US dollars in the country following the Council of Ministers economic affairs committees decision to prohibit all state institutions from dealing in the US currency. Iraq is also trying, although with some difficulty, to transfer its UN-monitored escrow petroleum account from US dollars to euros and to halt all foreign trade...