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More Iraqi News Tuesday PM 12-8-20

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Parliamentary Economy Surprised By The Silence About The Rising Dollar

Economy   Tuesday 8 December 2020 | 09:30 in the morning| Views: 228  The Parliamentary Economic and Investment Committee expressed its surprise at the government’s silence about the high exchange rates of the dollar, calling on the central bank governorate to reconsider the sale amounts and for the sale to be direct to traders.

A member of the committee, Riyadh Al-Tamimi, said in a press interview: “The dollar is sold through the central bank for 119 dinars, but the dollar has become higher and we do not know where the difference is. Does it go to certain banks or certain people.”

He added, “The government is supposed to benefit from this difference, and the sale of the dollar must be direct to traders to preserve the exchange value and interest, and Al-Tamimi continued,” Until now we do not know the reasons for the rise of the dollar; To the government, “There is a parliamentary question addressed to the governor of the Central Bank regarding this issue and awaiting a response from him,” calling him to “reconsider the sums of money selling the dollar and the exchange rate.”

A Jump For The Dollar In Iraq

Time: 12/08/2020 11:10:33  Read: 8,398 times   {Baghdad: Al Furat News} The exchange rates of the dollar in Iraq continued to rise today, Tuesday.

The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad reached 1271 dinars to the dollar, or 127 thousand and 100 dinars per hundred dollars.  Yesterday’s price on the two bourses was 1258.5 dinars to the dollar.

As for the selling price in the money exchange shops in Baghdad, it was 1275 dinars, and the purchase price was 1260 dinars.

On the Erbil Stock Exchange, the dollar’s price also witnessed a rise, with the selling price reaching 1270 dinars and the purchase price of 1265 dinars.

The owners of exchange offices attribute this rise to news of the government’s intention to raise the exchange rate of the dollar against the dinar and the people’s willingness to buy.    LINK

Parliamentary Finance Comments On The Rise Of The Dollar And The Possibility Of Its Float

Time: 12/08/2020 12:23:49  Read: 6,942 times   {Baghdad: Al Furat News} The Parliamentary Finance Committee commented on the recent rise in the exchange rate of the dollar against the dinar in Iraq.

The exchange rate on the Al-Kifah Central Stock Exchange in Baghdad is currently 1270 dinars to the dollar.

“We do not know what are the reasons for the high exchange rate of the dollar or the government’s intention to raise the exchange rate of the dollar to 1,300 dinars, and this news remains unconfirmed to us, but it is certain that the increase in demand for it raises the price,” said committee member Ahmed Hajj Rasheed.

He ruled out “the possibility of taking action to float the dollar in Iraq.”

It is noteworthy that what is meant by floating the currency (the dollar or other) is to make the exchange rate of this currency fully liberalized, so that the government or the central bank does not interfere in determining it directly, but rather it is automatically secreted into the currency market through the supply and demand mechanism that allows setting a price Exchange of the national currency against foreign currencies.

The owners of banking offices attributed the high exchange rate of the dollar in Iraq recently to the increase in demand for it by citizens and merchants alike, with news of the Ministry of Finance’s intention to raise the exchange rate of the dollar to 1300 dinars.

It is noteworthy that the reporter of the Finance Committee, Ahmed Al-Saffar, revealed to {Al-Furat News} the day before yesterday, Sunday, that “one of the reasons for the government’s delay in sending the draft fiscal budget for 2021 is the existence of understandings between the Ministry of Finance and the International Monetary Fund to update the exchange rate of the Iraqi dinar” usually it “a sensitive issue It must be updated in a way that does not cause inflation. ”   LINK

Saleh And The US Assistant Secretary Of State Discuss The Need To Protect The Sovereignty Of Iraq

Time: 12/08/2020 16:06:53  Read: 806 times  (Baghdad: Al Furat News) The President of the Republic, Barham Salih, discussed today, Tuesday, with the US Secretary of State for Near Eastern Affairs David Schenck the need to protect the sovereignty of Iraq.

A statement by his media office received by the Al-Furat News Agency stated that “during the reception of Schenker, relations between the two countries and ways to develop prospects for cooperation in all fields were discussed in the context of the existing strategic dialogue between the two countries and in accordance with common interests, stressing the need to protect the sovereignty of Iraq and continue the international effort in the war On terrorism, cooperation and coordination in facing the economic and health consequences of the Corona epidemic.

The statement added that “the meeting dealt with developments on the regional and international arenas, stressing the need to reduce tensions in the region, stressing that attacks and interventions using the language of dialogue in resolving the outstanding issues and preserving the security of Iraq    LINK

Al-Wali Stresses The Provisions Of Electronic Control Over Invoices Granted To Merchants Issued By The Central Bank

Time: 12/08/2020 16:50:39 Read: 806 times   {Baghdad: Al Furat News} The working group of the Customs and Border Crossings project held its sixth meeting under the chairmanship of Major General Omar Adnan Al-Waili, Chairman of the Commission, to discuss the work of automating customs and tax procedures.

A statement of the commission, a copy of which (Al Furat News) received, stated that “the meeting included discussing the measures taken by the General Authority for Customs / Ministry of Finance contracting with the (UNCTAD) organization for the purpose of automating the customs and tax procedures according to the (ESCWAADA) program for electronic transformation in those procedures.”

He added, “Including the work procedures for all departments working at border crossings to track goods and commodities from their source to their final destination using an electronic system based on the principle of completing all stages of completing the customs transaction and switching from the paper handling system to the electronic.”

Al-Waeli stressed the importance of adopting the principle of accuracy in the work of the electronic system and that it be a system characterized by high security and impenetrable, and the inclusion of several notes upon the initiation of the establishment of the program, including the provisions for electronically controlling the invoices granted to merchants issued by the Central Bank, as well as import licenses while working to provide infrastructure. For project work. ”

He also indicated that “the government and its reform programs have emphasized the use of advanced electronic systems that work to prevent waste of public money and the provisions for controlling and maximizing state revenues to cut off corruption and the corrupt.”

While Al-Waili instructed the commission “the importance of focusing on building the electronic system by the company designed for it to set in its program accounts a mechanism to eliminate fraudulent bank bills and security of the prepared program and follow up on the funds that will be spent on the project as well as setting a time limit for completion and the concerned party to provide the appropriate infrastructure for the project’s work in the outlets.” Border. ”    LINK

Kurdistan Finance Announces Its Commitment To The Fiscal Deficit Law

Tuesday 08, December 2020 16:15 | Economical Views: 180  Sulaymaniyah / NINA / The Kurdistan Regional Government announced its willingness to abide by the Financial Deficit Financing Law.

The Ministry of Finance in the Kurdistan Regional Government responded, today, Tuesday, to a letter sent by the Ministry of Finance in the Federal Government regarding the Fiscal Deficit Financing Law, in which it expressed Erbil’s readiness to abide by the law.

Awat Sheikh Janab, Minister of Finance in the regional government, said in a press conference that his ministry yesterday received a letter from the Iraqi Ministry of Finance regarding the law on financing the fiscal deficit, and we have replied that we are ready to abide by the law, adding that the ball is now in the square of the federal government and the Kurdish Parliament Square in Baghdad and the Parliament Square. Al-Iraqi, after we confirmed our commitment to all our duties. / End

Economist For NINA: The Recovery Of Oil Prices Is An Important Opportunity For The Government To Diversify Revenues

Tuesday 08, December 2020 11:32 | Economical Views: 248   Baghdad / NINA / Economic expert Hazem Hadi affirmed that: The recovery of oil prices is an important opportunity for the government to diversify revenues and not be limited to a single resource.

He told the Iraqi National News Agency ( NINA ) that: Many of the requirements for extricating the economic reality from its current reality are contingent on the rise in oil prices, which will add new funds to start new projects and complete the remaining ones, especially those related to productive projects.

Hadi added that: The price of a barrel of oil between 60 and 70 dollars a barrel is important to get rid of borrowing and reduce the financial deficit that the budget has suffered for years.

Al-Rafidain Reveals The Benefits Granted To Citizens Who Deposit Their Money

Author: AhadNA3 On 12/8/2020 – 9:22 AM 104  Ahed News – Baghdad  Today, Tuesday, Rafidain Bank announced financial benefits of 4 percent for citizens who deposit their money with the bank.

The media office of the bank said in a statement that “Al Ahed News” received, a copy of it, that “the interest of citizens’ savings accounts is given 4 percent to those who deposit their money in the bank and is calculated at the end of each month.”

The bank called on citizens to “visit bank branches, see instructions, deposit their money, benefit from this service and receive the financial benefits provided by the bank.” 2 finished

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