Recent leadership changes at Iraq’s Central Bank have raised suspicions of a hidden agenda. Could deep state operatives be behind the move to obstruct Iraq’s currency revaluation?
If you’re curious about what’s really going on with Iraq’s Central Bank, you’re not alone. Recent changes in leadership have sparked a lot of intriguing questions in my mind about Western (G7) deep state interference.
Mustafa Ghaleb Mukheef, the former Governor, has been replaced by Ali Mohsen Al-Alaq, but why? Some say it’s because of the Iraqi Dinar’s sharp decline, but there’s a deeper story here.
Mukheef might have been involved in a covert agenda by Western deep state operatives to block Iraq’s efforts to revalue its currency.
This article explains the allegations, the investigations, and what these events mean for the future of the IQD.
In This Article
- Leadership Changes Amidst Depreciation of the IQD Currency Rate
- Scrutiny of the New Acting Governor
- Investigations and Allegations of Mismanagement
- The Deeper Implications: Hidden Agendas
The sudden replacement of Mustafa Ghaleb Mukheef, the Governor of the Central Bank of Iraq (CBI), has raised eyebrows. Was this merely a response to the depreciating value of the Iraqi Dinar (IQD), or are there deeper, more sinister reasons at play?
Leadership Changes Amidst Depreciation of the IQD Currency Rate
The Iraqi Dinar has depreciated significantly, losing around 7% of its value in just two months.
Mukheef’s replacement, Ali Mohsen Al-Alaq, who previously held the position from 2014 to 2020, has returned as the “acting” governor.
The conflicting reports about Mukheef’s departure—whether a resignation or dismissal by Prime Minister Mohammed Shia al-Sudani—add to the intrigue.
The depreciation of the IQD currency rate alone doesn’t seem sufficient to explain such drastic leadership changes. Could there be more to Mukheef’s exit than meets the eye?
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Scrutiny of the New Acting Governor
Al-Alaq’s extended interim appointment has not gone without scrutiny.
Hadi Al-Salami, a member of Iraq’s Integrity Committee, disclosed ongoing investigations into Al-Alaq’s tenure. According to Al-Salami, the Prime Minister was urged to terminate Al-Alaq’s appointment due to alleged violations.
Despite these calls, Al-Alaq remains in his position, raising questions about his true role and influence.
Investigations and Allegations of Mismanagement
The Integrity Committee has referred several issues to the Integrity Commission and the Public Prosecutor, including alleged mismanagement of exchange rates and financial irregularities.
Substantial sums of money and benefits have reportedly accrued to various Arab and foreign banks, sparking further investigation.
Additionally, Al-Salami revealed that the Acting Speaker of Parliament has agreed to host Al-Alaq in upcoming sessions to address numerous questions about his actions as governor.
Al-Alaq’s defense centers on his claims of effective management and forthcoming discussions with the Federal Reserve and the US Treasury Department.
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The Deeper Implications: Hidden Agendas
Mukheef’s replacement may not simply be about the depreciation of the IQD currency rate.
There are suspicions that Mukheef could have been a Western (G7) deep state operative, deliberately stalling Iraq’s progress towards the Iraqi Dinar revaluation.
Soran Omar, a member of the Iraqi parliament’s Economic Committee, announced that Al-Alaq has reached retirement age and submitted his resignation to the Prime Minister.
However, Al-Alaq’s continued presence, despite reaching the legal retirement age, suggests powerful backing that defies standard procedures.
The Bottom Line
The leadership changes at the Central Bank of Iraq raise more questions than answers.
While the official narrative cites the depreciation of the IQD currency rate, the persistence of allegations, the unusual circumstances surrounding appointments, and the shadow of potential Western deep state influence suggest a more complex reality.
ALSO READ: Iraq Reveals New IQD Dollar Rate and Denomination Goal
As Iraq faces critical decisions on the Iraqi Dinar revaluation, the true motivations behind these moves warrant closer examination.
