Iraqi News Highlights Wednesday Afternoon 8-30-23
Tlm724 Administrator Bondlady’s Corner
Deputy For / Al-Sadiqun / Calls For Iraq’s Accession To “BRICS”
Wednesday, August 30, 2023 14:47 | Economical Number of readings: 207 Baghdad / NINA / – Zainab Juma Al-Moussawi, a representative of the Sadiqoon Parliamentary Bloc, called on the government to submit a request to join the international BRICS group.
Al-Moussawi said in a statement, “Part of the importance of the BRICS group is its possession of oil, wheat, and widely used minerals such as iron, or rare metals used in technological industries.”
She added, “Iraq’s accession to the BRICS group, similar to the accession of Arab and regional countries, comes due to its utmost importance for the Iraqi economy in getting rid of the dominance of the US dollar and liberating the country from Washington’s financial and trade restrictions.”
She pointed out that “the BRICS group has become one of the most important economic blocs in the world, due to the growth figures achieved by the countries of this bloc over the years, which has made it the focus of attention of many other countries.”
It is noteworthy that the BRICS group and the countries currently under its banner, which are Russia, China, India, Brazil and South Africa, present themselves as an economic bloc that seeks to break the dominance of the West over the global economy, and many economists expect that it will be a symbol of the fastest growing economies in the world in the near future.
BRICS is a global economic bloc whose idea ofestablishment began in September 2006, when the first meeting of the foreign ministers of Brazil, Russia, India and China was held on the sidelines of the United Nations General Assembly in New York./ End 8 This group has become one of the most important economic blocs in the world, due to the growth figures it is achieving
The countries of this bloc over the years, as they aim to become a global economic power capable of competing with the Group of Seven “G7” (G7), which accounts for about 60% of global wealth./ End
https://ninanews.com/Website/News/Details?key=1074397
Integrity Reveals That The Mosul Bank For Investment And Development, Najaf Airport Branch, Wasted More Than One Billion Dinars
Iraq Wednesday, August 30, 2023 Baghdad / National News Center Today, Wednesday, the Federal Integrity Commission announced that it was able to seize all the priorities for violations committed by the Mosul National Bank for Investment and Development – Najaf Airport Branch, which caused a waste of more than one billion dinars, pointing out that this resulted from the failure of the airport administration to take legal measures to hold the bank accountable. By exploiting the latter and benefiting from it.
And the Commission’s Investigation Department stated, in a statement received by the National News Center, that “the commission’s investigation office in the holy city of Najaf has formed a working team;
To check and investigate information he received related to the transfer of the Mosul Bank for Investment and National Development – Najaf Airport Branch, the airport balance account from dollars to Iraqi dinars at the official exchange rate, closing his current account in dollars with them, and transferring it to the Iraqi Trade Bank, despite the deposit in dollars and without the approval of the airport administration. .
And she added, “The team moved to Al-Najaf Airport, and after conducting investigations, audits, and investigations, it concluded that the information included a waste of public money amounting to (1,140,300,000) billion dinars obtained from the prevailing market price difference from the price after transferring an amount of (5,430,000) million dollars to the Trade Bank of Iraq.”
And closing the account without the approval of the airport administration and in violation of the instructions of the Central Bank.
And she continued, “The office team was able to seize all the priorities related to the Najaf airport account in the Mosul National Bank for Investment and Development, noting that the director of the Mosul Bank for Investment and Development, the airport branch, refused to cooperate and provide the team with any information.”
And she indicated that “a fundamental record of the operation was organized, and it was presented, along with the seized items, to the attention of the judge of the Najaf Investigation Court, which is specialized in examining integrity cases; In order to complete the legal procedures and identify the defaulters. https://nnciraq.com/224207/
The Investigation Committee Of The Theft Of The Century Ends Its Work And Submits Its Findings To The Judiciary
Iraq Wednesday, August 30, 2023 Baghdad / The National News Center The representative of the Sadiqoon Bloc and a member of the Parliamentary Integrity Committee, Representative Ali Turki Al-Jamali, announced today, Wednesday, the completion of the investigation into the case of theft of the century related to tax secretariat funds, indicating that the committee submitted the report to the competent authorities.
Al-Jamali said, in a press statement followed by the National News Center, that “the investigative committee that was formed inside Parliament investigated all the persons accused and involved in the theft of the century deal, in addition to conducting an investigation with the concerned employees.”
He added that “all the elements of the investigation conducted by the investigation committee were approved by the members of the Integrity Committee and were submitted to the Council of Ministers, the Presidency of the Republic, the Federal Judicial Council and the Public Prosecution,” noting that “the Iraqi judiciary is working very seriously to end the file.” https://nnciraq.com/224233/
Iraqi Central Sales Exceed $ 190 Million
Wednesday 30 August 2023 14:42 | Economical Number of readings: 184 Baghdad / NINA / – Today, Wednesday, the Central Bank’s sales amounted to about 195 million dollars, during its auction to buy and sell the US dollar.
According to the bank’s regulations, its total sales today amounted to 195,371,636 dollars, which the bank covered at a basic exchange rate of 1,305 dinars per dollar for documentary credits and international settlements of electronic cards, at a rate of 1,310 dinars per dollar for foreign transfers, and at a rate of 1,310 dinars per dollar in cash.
According to the table published on the Central Bank’s website, “Most of the dollar sales went to boost balances abroad in the form of (transfers, credits) at 156 million 191 thousand and 636 dollars, while the rest of 39 million and 180 thousand dollars went in the form of cash sales.” ./End8
https://ninanews.com/Website/News/Details?key=1074395
The OPEC Basket Of Oil Rises To More Than 87 Dollars A Barrel, And Basra Falls
Energy Economy News _ Baghdad OPEC announced today, Wednesday, that the prices of its basket of crudes rose to more than $87 per barrel, at a time when the price of Basra crude fell.
And OPEC stated in a report, seen by “Al-Iqtisad News”, that “the price of the OPEC basket of 13 barrels of crude recorded 87.10 dollars per barrel,” indicating that “the price rose from the previous day by 21 cents, after it recorded 86.89 dollars.”
While Basra Heavy crude fell by 70 cents, to record 82.58 dollars, Basra medium crude also fell by 70 cents, to record 85.63.
The reference basket of the Organization of the Petroleum Exporting Countries (OPEC) consists of the following: Sahara Mix (Algeria), Girassol (Angola), Djino (Congo), Zafiro (Equatorial Guinea), Rabih Light (Gabon), Iran Heavy (Iran), Basra Light ( Iraq), Kuwait Export (Kuwait), S Sidr (Libya), Pony Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela).
Views 47 08/30/2023 – https://economy-news.net/content.php?id=36069
A Slight Decrease In The Exchange Rates Of The Dollar In Morning Trading
Economy Wednesday, August 30, 2023 Baghdad / National News Center Today, Wednesday, the exchange rates of the US dollar witnessed a decline in the morning trading in the markets of the capital, Baghdad.
The selling prices in exchange shops in the local markets in Baghdad were 154,000 Iraqi dinars for every 100 dollars, while the purchase price was 152,000 dinars for every 100 dollars.
Al-Sudani’s Advisor: Iraq Has Not Recorded Any Failure In The Timing Of Repayment Of Its Debts
Economy | 05:40 – 08/30/2023 Baghdad – Mawazine News , Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih considered today, Wednesday, the World Bank’s estimate of Iraq’s debts at more than $150 billion exaggerated and unreal, and while confirming the high creditworthiness of Iraq, he indicated that no failure was recorded in the timing of debt repayment. during more than a decade.
Saleh said to the official agency, followed by Mawazine News, that “the issue of Iraqi public debt requires a professional distinction of its history and details, and not taking its numbers on their own without a clear logical analysis.
The internal public debt, which is approximately 71 trillion dinars, and which the government banking system still retains possession of that Debts in the form of government bonds and treasury transfers are estimated at about 54 billion dollars when evaluated in foreign currency, while the external debts payable until the year 2028 are estimated at about 23 billion, and there are debts due after 2028, so the external debt becomes about 30 billion dollars.
He added, “There is a debt pending on the 2004 Paris Club agreement, i.e. sovereign debts before 1990 belonging to four Gulf countries and four other countries, which are about 40 billion dollars, and if they are activated, if they are correct (because they are, as is termed economically, reprehensible debts because they financed the Iraqi-Iranian war.” At that time, if it is correct again, it must be deducted by 80% or more under the Paris Club agreement for the year 2004, to be less than $ 9 billion or less.
And Saleh continued, commenting on what the World Bank mentioned in its new report that Iraq’s debt exceeds 150 billion dollars: He said, “We do not know the method of calculating the debt in the World Bank report.
Aside from it, the external debt reached 50 billion dollars, as an expectation of the total internal public debt early, which was not achieved, and therefore the reading of Iraq’s internal and external debts, according to what was published by the World Bank, came to be about 152 billion dollars, and this is exaggerated rather than being About $84 billion (excluding the balance attached to the Paris Club agreement as an abhorrent debt) and what has been published about debt balances is unreal and discretionary.
He pointed out, “However, the public debt-to-GDP ratio, even in light of its unjustified inflation, will remain between 54-57% of the estimated GDP for the year 2023, and it is within the current safe economic stability area, which is usually estimated at 60%.”
And the advisor to the Prime Minister for Financial Affairs warned, “The financial policy in Iraq adopts a highly disciplined system in adjusting the timing of payment of debt dues (annual installments and interest) or when extinguishing the debt once on its annual due dates, and there are fixed and accurately estimated annual allocations that are monitored in the budget.”
The public early to pay debt services and dues, especially Iraq’s foreign debts, and no failure has been recorded in Iraq during a decade and a half of time, and this is what made Iraq’s credit worthiness high, as Iraq is located within Area B in the global credit rating tables that are evaluated by international credit rating companies. Known and periodically since 2015 until today.
Saleh explained, “The vast majority of internal public debt is in the possession of government financial institutions or the government banking system, which is an (exclusive) internal governmental matter.
There is a strategy in dealing with this debt, especially since the monetary authority currently acquires about 64% of the total internal debt and has the ability to In managing it in coordination with financial policy and with high accuracy, bearing in mind that the banking system annually obtains interest on that debt at a rate of 3%, and it falls within the annual allocations of the general budget.
https://www.mawazin.net/Details.aspx?jimare=234163
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