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Iraqi News Monday AM 10-19-20

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A Government Advisor Explains The Reasons For The Rise In The Dollar During The Past Two Days

Economie| 09:18 – 19/10/2020  BAGHDAD – Mawazine News,  Mazhar Muhammad Saleh, the financial advisor to the Prime Minister, explained the reasons for the high exchange rate of the dollar over the past two days.

Saleh said, “The monetary market in Iraq is sensitive and affected by information and economic and political news, which is reflected in the demand and supply process for the dollar.”

He added, “We are a cash payments community that does not deal in instruments or bank transfers, and therefore this (monetary) policy affected the supply and demand for the dollar,” adding that “the lack of foreign currency revenues due to the drop in oil prices in global markets was matched by an increase in the purchase of dollars and this is what caused The high exchange rate of the dollar in the markets. ”

Saleh shows that “The government consultant estimated that “the treasury of foreign currency that people have (not deposited in banks or banks) ranges between (7 to 10) billion dollars, and therefore these large numbers are affected by rumors, and news and information may also cause an increase in the exchange rate.” A / 43 https://www.mawazin.net/Details.aspx?jimare=126875

Central Bank: The Dollar’s Exchange Rate Is Fixed And Our Foreign Currency Reserves Are Very Good

Pratha News Agency79 2020-10-18   The Central Bank confirmed, on Sunday, that the exchange rate of the dollar against the Iraqi dinar is fixed and has not changed, indicating that its foreign currency reserves are “very good and enable it to overcome the current crisis” that the country is going through.

The bank said in a statement that “the statements that have spread recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represent the viewpoint of those who stated it and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which temporarily affected the price.”

He added, “The exchange rate is fixed and unchanged, and its monetary policy is clear and transparent, noting that its foreign currency reserves are very good according to all international indicators and in a way that enables it to overcome the current crisis the country is going through.”   The Central Bank called on the media to “exclusively approve the sources of the Central Bank in this regard.”   http://burathanews.com/arabic/economic/378644

Central Bank: The Dollar’s Exchange Rate Is Fixed And Our Foreign Currency Reserves Are Very Good

Banks  Economy News _ Baghdad  The Central Bank confirmed, on Sunday, that the exchange rate of the dollar against the Iraqi dinar is fixed and has not changed, indicating that its foreign currency reserves are “very good and enable it to overcome the current crisis” that the country is going through.

The bank said in a statement that “Al-Eqtisad News” received a copy of it, that “the statements that have spread recently regarding (reducing the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank. This affected the price (temporarily). ”

The bank added that it “declares that the exchange rate is fixed and has not changed, and that its monetary policy is clear and transparent, noting that its foreign currency reserves are” very good “according to all international indicators and in a way that enables it to overcome the current crisis the country is going through.

And he continued, “This bank hopes that the media will exclusively approve the sources of the central bank in this regard.” Number of observations 152 Date of addendum 10/18/2020

https://economy-news.net/content.php?id=22299

The Central Bank Comments On The Comments To Reduce The Price Of The Dinar Against The Dollar

The Central Bank of Iraq confirms that the statements that have spread recently regarding (reducing the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors launched by speculators, which affected the price (temporarily).

This bank declares that the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent. Note that its foreign currency reserves are “very good” according to all international indicators, in a way that enables it to overcome the current crisis that the country is going through.

This bank hopes that the media will rely exclusively on the sources of the Central Bank in this regard.

The Central Bank of Iraq   Media Office  October 18, 2020  https://cbi.iq/news/view/1580

A New Decrease In The Exchange Rates Of The Dollar In Iraq

Pratha News Agency65 2020-10-19   The exchange rates of the dollar decreased in the main stock markets and local markets today, Monday (October 19, 2020).

Al-Kifah Stock Exchange recorded 124,600 dinars against 100 US dollars, while the exchange rate of the dollar for Sunday was 125,100 dinars per 100 dollars.  Sale price: 125,000 dinars per $ 100.   Purchase price: 124,000 dinars per $ 100. http://burathanews.com/arabic/economic/378715

The Dollar Returns To Its Prices In Iraq

Time: 10/19/2020 10:33:12 Read: 8,138 times  {Baghdad: Al Furat News} The exchange rate of the Iraqi dinar against the dollar recorded, on Monday morning, a decline a day after the Central Bank of Iraq reassured the exchange rate.

The central Al-Kifah Stock Exchange in Baghdad recorded a decline in the dollar exchange rate, which reached 1246 dinars, or 124 thousand and 600 dinars, and in Al-Harithiya’s stock exchange it reached 1246.5 dinars, or 126 thousand and 500 dinars.

In exchange offices in Baghdad, the approximate prices for buying are 1240 dinars and for selling 1250 dinars.

In the governorates:

Basra 124,600   Najaf 124,700   Karbala 124,650   Babel 124,700  Diwaniyah 124,700   Maysan 124,750

Wasit 124,650 Muthanna 124,750   Dhi Qar 124,700   Erbil 124,600  Sulaymaniyah 124,600

Nineveh 124,700    Kirkuk 124,650

The Central Bank of Iraq announced yesterday morning, “The stability of the exchange rate of the dinar against the dollar is fixed and has not changed, and the statements that have spread recently regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank.

This is a number of rumors launched by speculators, which has affected the price (temporarily). ”The bank confirmed that“ its monetary policy is clear and transparent, ”noting that“ its foreign currency reserves are very good according to all international indicators and in a way that enables it to overcome the current crisis it is going through. The country. LINK

International Monetary: Coronavirus Is Causing A Decade Of Economic Pain In The Middle East And Central Asia

Economie| 01:36 – 10/19/2020   BAGHDAD – Mawazine News  The International Monetary Fund said that it may take a decade for the countries of the Middle East and Central Asia to return to the economic growth they experienced before the Coronavirus crisis, as long-term regional weaknesses affect their recovery.

The International Monetary Fund said on Monday, in its forecast for the region covering nearly 30 countries, that the lack of diversification among oil exporting countries and the dependence of oil importers on sectors such as tourism, as well as their reliance on remittances, is likely to curb growth. From Mauritania to Kazakhstan.

The oil-exporting countries were the hardest hit. Oil prices are about 40% lower than pre-crisis levels, reducing its main source of income and reflecting its limited success in diversifying its economies.

The International Monetary Fund said: “The COVID-19 crisis represents the fastest-moving economic shock of its depth in recent history.” Ended 29 /   https://www.mawazin.net/Details.aspx?jimare=126920

Al-Kaabi And The Un Team Discuss The Draft Election Law And The Financial Crisis

10/19/2020  Al-Kaabi calls on UN experts to focus on the economic sector in Iraq and support the country to diversify its imports

Mr. Hassan Karim Al-Kaabi, First Deputy Speaker of Parliament, received in his office today, Monday, October 19, 2020, the team of the United Nations Office in Iraq consisting of Mrs. Alice Walpole, Deputy Head of the United Nations Mission and Director of the Election Support Program, and Mr. Lawrence Liu, Senior Adviser for Political Affairs, And the UN expert on elections, Hugo Castich.

Al-Kaabi said that the attendance of UN experts specializing in the field of elections at this time is very important, and we in the House of Representatives have involved the representatives of the United Nations in most of the meetings and dialogues that were held in the House of Representatives to discuss the provisions of the new election bill, to be enacted soon, which will focus on devoting two basic points They are electoral justice and real representation, and it will fulfill everyone’s aspiration. ”

During the meeting, they discussed the possibility that the coming period would witness the enactment of some important laws that have a direct relationship to the completion of the elections, including the Federal Court Law, where Al-Kaabi demonstrated its importance.

The reform paper, known as the White Paper, was highlighted, and Kaabi described it as a government strategy to conduct government reforms over several years, while Iraq is currently suffering from a stifling financial crisis, and it should have included “immediate” solutions to this problem, calling on the United Nations to support Iraq in the economic, development, and commercial sectors and their advancement to diversify imports, and not to be satisfied and focus on political issues in Iraq only, especially since economic stability is very important to achieve political and security stability.    The Media Office  of the First Deputy Speaker of Parliament  10/19/2020   LINK

Iraq Signs Three Memoranda With France In The Fields Of Transportation, Agriculture And Education

Iraq signed, today, Monday, in the French capital Paris, three memoranda of intent in the fields of transport, agriculture and education, in the presence of the Prime Minister, Mr. Mustafa Al-Kazemi and the President of the French Government, Mr. Jean Castex.

Where the Iraqi Minister of Agriculture signed with the French Minister of Agriculture and Food, a memorandum of intent to enhance cooperation between the two sides in the field of strengthening the institutional capacities of the Iraqi Ministry of Agriculture, including the exchange of experiences in the fields of agriculture, training, veterinary education, phytosanitary and agricultural research.

The memorandum also includes encouraging agricultural and food partnerships in the fields of food and agricultural industries, agricultural machinery, and the development of land and water resources.

The Iraqi Minister of Transport signed a memorandum of goodwill declaration with his French counterpart regarding the construction of the suspended train in the capital, Baghdad, while the memorandum of intent, which he signed on behalf of the Iraqi Minister of Higher Education, the Secretary General of the Council of Ministers, Mr. Hamid Al-Ghazi, with the French Minister of Education, included strengthening cooperation in the field of Education between the two parties, and expanding the acceptance of Iraqi students in French universities.

The Prime Minister, Mr. Mustafa Al-Kazemi, arrived yesterday evening, Sunday, the French capital, Paris, as part of a European tour that includes France, Britain and Germany, during which he will hold several discussions based on developing bilateral relations with the three countries and strengthening joint cooperation in various fields.

Media Office of the Prime Minister  1 9 – October – 2020  https://pmo.iq/press2020/19-10-202003.htm

Trade: Supporting The Market Economy And Holding Specialized Exhibitions                        

Monday 19 October 2020  87  Baghdad: Morning  The Minister of Trade, Dr. Alaa Ahmad Al-Jubouri, discussed with the President of the Federation of Chambers of Commerce Abdul Razzaq Al-Zuhairi and the President of the Baghdad Chamber of Commerce, Firas Al-Hamdani, ways to provide government support and its orientation to the market economy, put forward proposals, observations and areas of cooperation with the Ministry and hold specialized exhibitions on the grounds of the Baghdad Fair.

The minister stressed that “the establishment of an economic forum in Baghdad has international, Arab and local economic dimensions, and will have the support and presence of the prime minister, ministries, sectors and bodies.”

He pointed to “the government’s vision, direction and interaction to support the private sector and the market economy, which enhances the national product, by organizing work and opening wide areas for dealing.”

He said, “His ministry is responsible for the internal and external economic policy of the country, and that the private sector is within this policy and its support receives the special attention of the ministry and the government in a way.” Public .

Al-Jubouri pointed out the need to “work on developing the national product in industry and agriculture and recovering the citizen’s conviction in it, as well as recovering the status of the national industry in the external environment and defining the identity of the Iraqi merchant. For his part, the President of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, made a number of proposals, and between the chambers’ role in establishing economic forums. And conferences to support the private and public sectors.

He expressed his desire to cooperate with the Company Registrar Department on updating the data of the companies registered annually to get rid of unknown and inactive names, as well as the trade name and related to the laws in force, and to cooperate in allocating a permanent hall in the Baghdad Fair to hold exhibitions Specialist.

In turn, the head of the Baghdad Chamber of Commerce, Firas Al-Hamdani, said, “There are several proposals in the working paper presented to the Minister of Trade, including adding the Baghdad Chamber of Commerce to the membership of the Export Support Fund and the General Company for Fairs and Commercial Services, and the establishment of the Iraqi Export and Import Bank, so that the merchant can facilitate the issue of opening documentary credits.

And adding the Baghdad Chamber of Commerce to the membership of joint committees with Arab and foreign countries, giving exports and exports a priority in facilitating procedures, adopting the principle of re-exportation, and abolishing the ban on exporting some Iraqi products.   LINK

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