Iraq Economic News and Points to Ponder Late Saturday Evening 11-4-23
Tlm724 Administrator Bondlady’s Corner
An Economic Expert Told Nina: Preventing The Withdrawal Of Dollars In Erbil Via ATM, I.E., An Automated Teller Machine, Is A Health Measure.
Saturday 04, November 2023 | Economical Number of readings: 596 Baghdad / NINA / Economic expert Raad Twig said in a statement to the National Iraqi News Agency ( NINA ) that “the Central Bank’s prohibition of withdrawing the dollar in Erbil via an ATM, i.e. an automated teller machine, is a healthy measure in preventing the leakage of the dollar,” indicating that the financial engineering of the Central Bank is tending to reduce the percentage of the dollar among speculators. Thus, the dollar is prepared within controlled systems and in specific directions.
He stressed that this measure will contribute to the elimination of parallel markets and parallel exchange rates, the end of the state of dollarization, and the trend towards an automatic increase in the value of the Iraqi dinar./End https://ninanews.com/Website/News/Details?Key=1087841
The Prime Minister Threatens Those Involved In Stealing Tax Deposits And Announces The Signing Of Major Investment Deals
Money and business Economy News – Baghdad Prime Minister Mohamed Shiaa Al-Sudani revealed on Saturday that Interpol had demanded the arrest and extradition of high-ranking officials who had embezzled more than $2.5 billion in tax funds, while confirming that our special forces had uncovered a series of planned attacks by ISIS in Europe .
Al-Sudani said, in an article published in the British newspaper The Guardian, that “over the past year, the government paved the way to meet the aspirations of the Iraqi people and support their basic needs,” stressing that “the government is focusing on attracting foreign investment, strengthening the private sector and addressing important issues, especially in education and health care. ” .
The Prime Minister added: “The government has taken important steps to restore Iraq’s reputation on the global stage,” stressing “Iraq’s decisive role in working to protect political and economic security in the region through cooperation with our international partners. “
He pointed out that “the tripartite budget focuses on modernizing our infrastructure and creating job opportunities,” while stressing that corruption is the biggest threat to future development in Iraq .
Al-Sudani said: “We asked Interpol, as part of our anti-corruption campaign, to arrest and hand over former high-ranking Iraqi officials who embezzled more than $2.5 billion in tax money,” noting that “we have recovered a large amount of stolen tax money, and we will bring those responsible to justice, and this It requires continued collaboration with partners like the UK .”
He explained, “Iraq has become a place for international companies to invest and work, especially in the energy sector,” while revealing that “during the first year of the government, major investment deals were signed, which indicates the growing international confidence in the Iraqi economy. “
He also continued: “We will confirm our pivotal role in the region, through partnerships and investing in our untapped potential,” pointing out that “Iraq will be able to help achieve broader regional prosperity,” noting that “Iraq is on a positive path, which is the path that I believe Others said it wouldn’t have been possible a few years ago .”
Al-Sudani said: “There is still a lot to be done, and we are committed to ensuring that this continues for all Iraqis .” Views 65 11/04/2023 – https://economy-news.net/content.php?id=37253
Iraq Is Ranked Third Among The Largest Oil Exporters To America
Economy | 01:18 – 04/11/2023 Baghdad – Mawazine News The US Energy Information Administration announced today, Saturday, that Iraq’s oil exports to America rose during the past week.
The administration’s latest schedule showed that the average US imports of crude oil during the past week from nine major countries amounted to 5.645 million barrels per day, an increase of 392 thousand barrels per day from the previous week, which amounted to 5.253 million barrels per day.
He added that Iraq’s oil exports to America amounted to 351 thousand barrels per day last week, an increase of 169 thousand barrels per day from the previous week, which reached an average of 182 thousand barrels per day.
He pointed out that most of America’s oil revenues during the past week came from Canada at an average of 3,485 million barrels per day, followed by Mexico with an average of 1,004 million barrels per day, and oil revenues from Saudi Arabia amounted to an average of 294 thousand barrels per day, and then Brazil with an average of 168 thousand barrels per day. Ended 29/ M99
https://www.mawazin.net/Details.aspx?jimare=237249
More Than $997 Million In Central Bank Sales During The Past Week
Saturday 04, November 2023 Economical Number of readings: 406 Baghdad / NINA / The Central Bank of Iraq’s total sales of the US dollar during the past week amounted to more than 997 million dollars.
The bank stated in a statement that, during the past week and for the five days in which the auction was opened, it sold 997 million 84 thousand and 686 dollars, at a daily average of 109 million and 652 dollars, higher than what it recorded last week, which amounted to 996 million 975 thousand and 34 dollars
Dollar sales last Monday, where sales amounted to 203 million, 802,572 dollars, while sales were the lowest on Tuesday, when sales amounted to 195 million, 529,217 dollars. He pointed out that sales of foreign remittances during the past week amounted to 895 million, 289 thousand
And 904 dollars, an increase of 86% compared to cash sales, which amounted to 129 million 11 thousand and 600 dollars.
He explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of the amounts of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar. While the selling price of remittances abroad and the cash selling price reached 1,310 dinars per dollar./ https://ninanews.com/Website/News/Details?key=1087829
Tomorrow…Blinken Is In Baghdad To Discuss The Situation In Gaza
Political | 04/11/2023 Baghdad – Mawazine News Iraqi government sources revealed today, Saturday, a visit by US Secretary of State Antonio Blinken to Baghdad tomorrow, Sunday.
The sources reported, according to Russia Today, that “Blinken will visit Baghdad tomorrow, Sunday, to meet with Iraqi officials, most notably Prime Minister Muhammad Shiaa al-Sudani, to discuss the situation in Gaza.”
She added, “The visit is not announced, and there may be messages exchanged between the two parties related to the Israeli war on Gaza.” https://www.mawazin.net/Details.aspx?jimare=237273
About 164 Thousand.. Dollar Exchange Rates Closed Higher
Economy | 04/11/2023 Baghdad – Mawazine News The Baghdad Stock Exchange closed, due to an increase in the exchange rate of the dollar against the Iraqi dinar. The selling price of $100 was 163,100 dinars. The purchase price was 162,000 dinars per 100 dollars. Ended 29/h
https://www.mawazin.net/Details.aspx?jimare=237258
Provoking Points to Ponder From Kahlil Gibran:
No man can reveal to you aught but that which already lies half asleep in the dawning of your knowledge.
Work is love made visible. And if you cannot work with love but only with distaste, it is better that you should leave your work and sit at the gate of the temple and take alms of those who work with joy.
Yes, there is a Nirvanah; it is in leading your sheep to a green pasture, and in putting your child to sleep, and in writing the last line of your poem.
You give but little when you give of your possessions. It is when you give of yourself that you truly give.
Friendship is always a sweet responsibility, never an opportunity.
Doubt is a pain too lonely to know that faith is his twin brother.
You pray in your distress and in your need; would that you might also pray in the fullness of your joy and in your days of abundance.
The obvious is that which is never seen until someone expresses it simply.
The biggest thing in today’s sorrow is the memory of yesterday’s joy
We choose our joys and sorrows long before we experience them.
