Iraqi News Highlights Monday Afternoon 8-21-23
Tlm724 Administrator Bondlady’s Corner
In Numbers, Mazhar Saleh Responds To The Text Of The World Bank’s Report On Iraq’s Debts
Iraq Monday, August 21, 2023 Baghdad / The National News Center The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, stated today, Monday, that the issue of the Iraqi public debt requires a professional and fair differentiation of its history and details without taking its numbers on their minds and without a clear logical analysis.
Saleh explained, in a statement received by the National News Center, that “the internal public debt, which is approximately 71 trillion dinars, and which the government banking system still retains possession of those debts in the form of government bonds and treasury transfers, which are also estimated when evaluated in foreign currency, will amount to approximately 54 billion dollars.”
He added, “As for the external debts due from now until the year 2028, they are estimated at 23 billion, but there are debts due after the year 2028. The external debt may be about 30 billion dollars.”
He continued, “Also, there is a debt pending on the 2004 Paris Club agreement, that is, sovereign debts prior to the year 1990 and belonging to four Gulf countries and four other countries, which are about $40 billion, and if it is activated, if it is correct (because it is reprehensible debts that financed the Iraqi-Iranian war at the time). ) If it is correct again, then it must be deducted by 80% or more according to the Paris Club, to become about less than $ 9 billion or less.
And he continued, “I do not know how the debts were calculated from the World Bank report. Perhaps the (hypothetical) deficit in the federal general budget 2023, which is estimated at about 64 trillion dinars, part of it was approved, so that the external debt reached 50 billion dollars, meaning that 40% of the annual deficit estimates may have been added as an expectation.
The total internal and external public debt, so the reading of Iraq’s internal and external debt, according to what was published by the World Bank, came to be about 153 billion dollars.
He pointed out that “the public debt-to-GDP ratio will remain between 52-55% of that estimated output for the year 2023, which is within the current safe economic stability area, which is usually estimated at about 60%.”
Earlier, the World Bank announced that the Iraqi economy is a fragile economy, and that the country’s debts increased to 152 billion dollars, noting that the central bank auction caused the redirection of hard currency to the parallel market, which led to a decrease in the value of the dinar against the dollar.
High Oil Prices Despite Economic Concerns
Economy | 12:31 – 08/21/2023 Baghdad – Mawazine News Oil prices rose, in trading today, Monday, despite concerns about the growth in global demand for crude in light of the high interest rates. By 11:21 Baghdad time, US West Texas Intermediate crude futures rose 0.84% to $81.93 a barrel.
While Brent crude futures rose by 0.77% to $85.45 a barrel, according to Bloomberg agency data. https://www.mawazin.net/Details.aspx?jimare=233644
The Central Bank Adds New Technology
Economy Monday, August 21, 2023 Baghdad / National News Center Adding the technology of taking instant photos of the customer when registering on the platform and when conducting the cash sale process at the stage of uploading documents. https://nnciraq.com/222675/
The Decline In Dollar Prices In Baghdad With The Closing Of The Stock Market
Economy Monday, August 21, 2023 Baghdad / The National News Center, the prices of the US dollar fell against the Iraqi dinar, today, Monday, in the Baghdad markets, with the closing of the stock exchange.
The correspondent of the National News Center said, “The dollar prices decreased with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, to record 153,000 Iraqi dinars against 100 dollars, while the prices this morning were 153,300.”
He added, “The selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 153,500 dinars, while the purchase price reached 152,500 dinars for every 100 dollars.” https://nnciraq.com/222783/
The American Ambassador: I Discussed With The Minister Of Oil The American Investments That Support The Independence Of Iraq
Political | 03:51 – 08/21/2023 Baghdad – Mawazine News, the US Ambassador to Iraq, Ilia Romansky, discussed with Oil Minister Hayan Abdul Ghani the partnership in the field of energy between Iraq and the United States.
Romansky said in a tweet: “I met today with the Minister of Oil to discuss the partnership between the United States and Iraq in the field of energy and ways to enhance American investments that support Iraq’s independence in this field, which makes it more stable, prosperous and environmentally sustainable.” https://www.mawazin.net/Details.aspx?jimare=233659
Central Bank Sales Decreased To 190 Million Dollars
Economy | 12:52 – 08/21/2023 Baghdad – Mawazine News Today, the Central Bank’s sales in the hard currency auction decreased to 190 million dollars. Most of the sales went to remittances. https://www.mawazin.net/Details.aspx?jimare=233645
