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More Iraqi News Tuesday PM 10-20-20

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For The Third Day .. The Decline Of The Dollar In Iraq

Time: 2020/10/20 11:58:47 Read: 16,965 times  {Baghdad: Al Furat News} The exchange rates of the dollar against the Iraqi dinar continued to decline for the third consecutive day, after the Central Bank of Iraq reassured the stability of the exchange rate and the existence of a “very good” reserve of foreign currency.

Al-Kifah Stock Exchange in Baghdad today recorded 1241 dinars against the dollar, or 124 thousand and 100 dinars for one hundred dollars, after yesterday it recorded 1246 dinars against the dollar.

In the Al-Harithiya Stock Exchange in Baghdad, the exchange rate of the dollar reached 1240.5, ie 124 thousand and 50 dinars per hundred dollars.

The selling and buying prices also decreased in the exchange shops in the local markets in Baghdad, where the selling price reached 1245 dinars, while the purchase prices reached 1235 dinars.

In Erbil, the dollar’s prices also witnessed a decline, as the selling price reached 1241, and the purchase price reached 1240 against the dollar.  In the province of Dhi Qar, the dollar exchange rate reached 1245 dinars for sale and 1235 dinars for purchase.   LINK

Parliamentary Solutions To Overcome The Current Financial Crisis

Political| 02:48 – 20/10/2020   BAGHDAD – Mawazine News  , MP from Al-Sadiqoun Bloc, Fadel Al-Fatlawi, explained, on Tuesday, many solutions to overcome the current financial crisis, stressing the need for the government to resort to agriculture, invest its lands, operate hundreds of stalled factories, and seek the help of economists to determine a specific mechanism for the economic advancement of the country.

Al-Fatlawi said, “Hundreds of thousands of dunams of fertile agricultural land, in addition to the abundance of groundwater in Iraq, where it can be exploited and put up for investment in order to overcome the financial crisis.”

He added that “Iraq has a very tremendous potential in addition to the laboratories that are still suspended, as the government should rely on a working group of experts and professionals in order to provide the government with proposals that would bring about an economic renaissance in Iraq and rid it of its crisis.”

He stated that “hundreds of factories are suspended and need financial support, as the Kufa cement factory, which provides more than two thousand job opportunities, demands a loan of 20 billion dinars in order to advance its reality, but without any response, in addition to the presence of many projects stalled due to such measures.”

7 Winning Companies In The Middle Session

Iraq Stock Exchange  Market   Economy News – Baghdad   Seven profitable companies contributed to the introduction of an index in the green zone by the end of Tuesday’s trading.

The index rose by 0.21%, after the shares of the Middle East Bank Company rose by 10.00%, and the shares of the Islamic Bid Bank company increased by 6.67%.

The mid-week session witnessed the circulation of 529 million shares, a value of 442.3 million dinars.

The shares of 5 companies led by Gulf Bank Company shares decreased by 7.14%, and the shares of Ashur Bank company decreased by 4.00%. The shares of the Middle East Bank were the most traded, with 187.6 million shares traded. Number of observations 90 Date of addendum 10/20/2020

The House Of Representatives Intends To Reduce The Amounts Of Internal Borrowing

money and business  Economy News – Baghdad  The House of Representatives announced its intention to reduce the amount of internal borrowing, within the law submitted by the government.

A member of the council’s finance committee, Jamal Cougar, said, “The local borrowing or deficit financing law will be presented to the vote, but not with the numbers sent by the government, as the committee will work to change them in line with the need.”

He added that “the government requested loans for the four months amounting to 57 trillion, while it disbursed, according to its report, from the beginning of the year to mid-August, up to 51 trillion.”

Cougar expected that “Parliament will resume its work next week due to the existence of important laws that need to be voted.” Number of observations 304 Date of addendum 10/20/2020

Economic Expert: Al-Kazemi’s European Visit … An Attempt To Raise The Name Of Iraq From The List Of Countries That Sponsor Corruption

Tuesday 20, October 2020 09:18 | EconomicalViews: 277   Baghdad / NINA / Economic expert Hazem Hadi stressed the importance of the visit of the European Prime Minister to open the doors for investment.

He told the Iraqi National News Agency ( NINA ) that: The visit focuses mainly on the economic and investment side, and strengthening the position of Iraq.

Hadi added that another important goal is to try to remove the name of Iraq from the list of countries that sponsor corruption and money laundering in order to create an environment for investment.

The Prime Minister began a visit to Germany today, within a tour that also includes France and Britain ./ End

An Economist Warns Of A New Game Led By Traders To Create A New Crisis Amid Government Silence

08:31 – 20/10/2020   Information / private   Economic expert Ihssan Al-Kinani warned against the tendency of some traders to raise the prices of foodstuffs and commodities under the pretext of the high exchange rate of the dollar, explaining that the government is still silent on the issue, which increases the severity of the crisis in the country.

Al-Kinani said to / the information /, that “some merchants, despite the availability of goods for them from foodstuffs and other commodities, but they deliberately raised their prices when the dollar exchange rate rose from its previous price.”

He added, “The central bank’s reserve has clearly not changed, but there is ambiguity in its policy, as it issued a statement a week ago confirming the decline in foreign currency reserves, which caused the rise of the dollar, while it issued a new statement yesterday confirming that its reserves are very good, which is What may confuse the market movement. ”

And that “the government is still far from the subject without a static movement, which may push corrupt merchants to monopolize goods and commodities, and encourage others and other traffickers of people’s lives to exploit citizens under the pretext of the high exchange rate of the dollar.”

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