KTFA:
Clare: The Ministry of Foreign Affairs: The meetings of the Iraqi delegation in Washington aim to clarify the identity of Iraqi monetary policy
2/09/2023
Foreign Ministry spokesman Ahmed Al-Sahaf confirmed today, Thursday, that the meetings of the Iraqi delegation headed by Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein with US officials in Washington aim to clarify the identity of Iraqi monetary policy.
Al-Sahhaf told the official channel, followed by Mawazine News, that “the meetings of the Iraqi delegation in Washington aim to crystallize a vision with economic priorities and the importance of achieving fundamental approaches related to the identity of Iraqi monetary policy and clarifying this identity.”
He added, “The Iraqi delegation’s visit looks in depth to the fact that there are joint procedures between the two sides related to Iraqi monetary policy, and if we take participatory visions and go for ways to enhance coordination and cooperation, we will witness great support for the government’s actions related to fixing a new exchange rate for the dollar and diversifying the sales gates, which is reflected in daily trading.” .
He continued, “The meetings are consistent with the contents of the agreement between Baghdad and Washington, and will address the contents of partnership in the field of energy and supporting Iraq in various aspects, and the delegation stressed that Iraq desires multiple partnerships based on the idea of diversifying the economic gates.” LINK
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Henig: IMO: This headline is rather misleading. The US Congress is recognizing that Iraq is an ally and partner, so they’re attempting to discontinue something that doesn’t recognize Iraq as an ally and partner. The U.S. Congress is doing the right thing here.
Congress Movement to Withdraw ‘Use of Force’: Making Iraq an ‘Enemy’
Today, 20:22 | Baghdad Today – Translation
A group of Democratic Party deputies in the US Congress submitted on Thursday a bill to withdraw the authorization of the “use of force in Iraq” within the powers of the US president, considering that the continuation of the authorization means that Iraq is “still an enemy.”
A statement issued by the Democratic Party, translated by (Baghdad Today), said that “the representatives (Tim Cain, Todd Ing, Barbara Lee, Chip Roy, Abigail Spenberger, and Tim Cole) submitted a formal request to the US Congress, to end the urgent powers that authorized the US president during the years (1991-2002) to carry out military operations in Iraq, which is still continuing to remain authorized, so it must be withdrawn now,” according to the statement.
The statement added that “the continuation of emergency powers for more than thirty years, worries the US legislator of the possibility of misuse in the future,” and that “canceling them completely will represent American recognition of Iraq’s full democratic sovereignty” and contribute to improving Washington’s relationship with Baghdad.”
Separately, Democratic Representative Todd Ying said that “Iraq today is a central ally and strategic partner of the United States, especially in the field of achieving security in the Middle East, but with the continuation of the emergency powers of war granted to the president, Iraq is still legally (an enemy of Washington).” LINK
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Henig: IMO: I’m posting this due to a rumor going around that there would be an internet blackout Iraq-wide to prevent all communications in or out in conjunction with the RI. This article states that it’s for the expressed purpose of school exams–and would therefore be only until February 13, and only from 4am to 12pm.
Iraq bans social media until February 13
February 8, 2023
Baghdad (IraqiNews.com) – The Iraqi Ministry of Communications announced on Monday that social media websites are banned in Iraq until February 13.
“The ban will coincide with students’ exams, as it will continue until the February 13, except on Fridays,” the spokesperson of the Ministry of Communications, Omar Abdel-Razzaq, said.
Abdel-Razzaq explained that the ban times will be from 4 a.m. until 12 p.m., noting that the ban will include the most common social media websites and applications in the Iraqi society, which are Facebook, Telegram, WhatsApp, and Instagram.
Abdel-Razzaq elaborated that this decision was made in response to a request submitted by the Ministry of Education, and after the approval of higher authorities. He added that the Ministry of Communications is only the executing body for the ban process.
The Iraqi Ministry of Education announced last Sunday the start of the exams of all educational stages for the academic year 2022-2023, where more than 200 thousand students are taking exams.
Many exams were leaked previously through social media in Iraq, which sparked controversy and caused resentment between the Iraqis.
Last year, following the leakage of mathematics and English exams for the intermediate stage, the Ministry of Education was forced to cancel the exams and postpone them for 10 days.
Last week, the Iraqi security announced the arrest of a network specialized in falsifying and altering exam papers in the capital, Baghdad. LINK
Henig: High oil prices. Brent is close to $85 a barrel
Time : 2023/02/08 22:19:57
{Euphrates News} Oil prices continued, on Wednesday evening, their continuous rise for days, approaching $ 85 a barrel.
Brent crude futures were at $84.94 a barrel, closing yesterday at $83.69.
U.S. crude rose to $78.48 a barrel futures, which closed yesterday at $77.14. LINK
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Henig: A famous economist predicts the disappearance of the dollar… It determines the role of Saudi Arabia in this!
Economy News / Baghdad
The famous economist, Nouriel Roubini, warned of the decline of the US dollar due to the rise of the bipolar currency system as a global currency, saying in an economic article that the replacement of the Chinese renminbi may replace the US dollar due to a series of measures that the Chinese government has been implementing since the imposition of Corona restrictions.
Given the increasing use of the dollar for national security purposes, and the growing geopolitical rivalry between the West and other powers such as China, Russia, Iran and North Korea, rumors of dedollarization are accelerating, especially in light of the U.S. government’s actions to use the dollar by its rivals through sanctions, which is one of the reasons for the emergence of the bipolar system in the next decade.
At the same time, the economist spoke of the false adoption of the dollar by economies in less developed countries that brings strong drawbacks, as the current system makes emerging market economies financially and economically vulnerable to changes in US monetary policy driven by domestic factors such as inflation.
Also, Nouriel Roubini stressed that Saudi Arabia has already settled some transactions using the Chinese renminbi and that this may prompt other countries in the region to follow this example, which in turn may lead to the replacement of the dollar.
In this context, the BRICS revealed that it is working to create its own currency, as a step to get rid of the influence of the United States and the International Monetary Fund on the economies of the countries of the group. The presidents of Argentina and Brazil also announced that they had started a common currency that would serve as a tool for settling payments between the Mercosur and BRICS countries. According to Roubini, the launch of CBDCs, and the increasing use of private payment apps such as Wechat in China, will also contribute to the replacement of the dollar.
It is noteworthy that the famous economist, Nouriel Roubini, said earlier that the global economy faces economic and non-economic risks, including concern about high inflation and recession in addition to stagflation, and that the continuous rise in interest rates will make the debt ratios of the private and government sectors unsustainable, which will lead to default, and there is a lot of talk about the decline of globalization and about protectionism and divisions in the global economy. LINK
