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More Iraqi News Friday PM 12-18-20

TLM724 Administrator BondLady’s Corner

TLM724:   Not sure I am buying this devaluation. As far as I can tell it has been all speculation, rumors and leaked documents which does not necessarily make it so. I’d like to see it officially on the CBI first

Urgent A Source For The Euphrates News: The Central Bank Sets A New Price For The Dollar, Starting From Sunday

It is noteworthy that the Central Bank of Iraq is currently selling dollars for 1190 dinars.

Time: 12/18/2020 11:00:49  Read: 17,082 times   {Baghdad: Al Furat News} A private source revealed that the Central Bank of Iraq will soon set a new price for the dollar exchange in Iraq.

The source told {Al-Furat News} that “the central bank, starting next Sunday, will adopt a new price for the dollar at a value of 1450 dinars for one dollar {ie 145 thousand dinars for one hundred dollars}”.

It is noteworthy that the Central Bank of Iraq is currently selling dollars for 1190 dinars.

The Parliamentary Finance Committee hosted, yesterday, the Governor of the Central Bank, Mustafa Ghaleb, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.

The central bank governor explained to the committee, according to a statement that “the bank is preparing to launch a package of measures that will achieve a comfortable balance in the exchange rate for the year 2021, including launching an initiative in the amount of 3 trillion to support low-income people, doubling the provision of hard currency in the market, and increasing interest rates on the Iraqi currency deposited in Banks. ”

According to the leaked draft of the federal budget law for 2021, it included fixing the exchange rate of the dollar against the Iraqi dinar on the basis of {1450} and a deficit that exceeded 58 trillion Iraqi dinars. The estimated revenues from exporting crude oil were also calculated on the basis of the price of 42 dollars per barrel, and the rate of exporting 3 million And 250 thousand barrels per day, including 250 thousand barrels exported from the Kurdistan region.

The former Undersecretary of the Ministry of Finance, Fadel Nabi, attributed the decline in the value of the Iraqi currency against the dollar to banks and currency dealers who are working to raise the price of the dollar in order to achieve profits.

The leakage of the draft budget to the media and social networking sites caused widespread controversy and turmoil in the foreign currency market in Baghdad, as the exchange rate of the dollar rose in the local market in a frenzy and exceeded 1340 dinars before it fell to 132 thousand dinars after government and parliamentary assurances that the draft is not final and subject to modification.  LINK

MP Saadawi: The Central Bank Will Raise The Price Of The Dollar To 145 Thousand Dinars, Starting From Sunday

Thursday 17, December 2020 22:49 | Economical Views: 877   Baghdad / NINA / Member of the Parliamentary Finance Committee, Abdul Hadi Al-Saadawi, announced that the Central Bank will raise the price of the dollar to 145 thousand dinars, starting from Sunday.

Al-Saadawi said in a televised statement followed by / Nina /: “The policy of the Central Bank to raise the dollar against the dinar is old,” indicating: “The raising of the dollar was implemented before the decision was announced,” pointing out: “The leakage of the draft budget confused the Iraqi market and street.”

He asserted, “There is confusion with the financial policy drawn up by the government,” noting that: “We do not have control over the window for selling the currency, and the increase in the dollar will be matched by an increase in the prices of commodities and goods.” / End   https://ninanews.com/Website/News/Details?key=876925

TOBYBOY:  This is not the way to correct solution, they need to go the opposite way reduce the price of dinar. The corrupt need to be put in jail as well as the Banks involved in the corruption. They know who exactly is involve and what politicians are doing the corruption. They talk all the time but never follow through on the corruption. The Prime Minister also talks but does not follow through on the arrest of these politicians. As I have stating we see another 10 years or more same old same old I don’t believe they have any intension of RV the dinar just keep stringing every on on year after year too much corruption in the country of Iraq.

Independent Mp: The Rise In The Price Of The Dollar Is Caused By The Weak Financial Policy Of The Central Bank

Author: AhadNA3 On 12/18/2020 – 3:53 PM  95   Al-Ahed News – Baghdad, independent MP Abbas Al-Atafi criticized today, Friday, the weakness of the financial policy of the Central Bank of Iraq in dealing with the crisis of the high price of the dollar, indicating that this policy is what led to the exacerbation of the crisis.

Al-Atafi said in an interview with the Al-Ahed satellite website, “The Central Bank is the one who draws up the policy for the stability of the market, but the weakness of its financial policy in dealing with the crisis of the high exchange rate of the dollar against the Iraqi dinar exacerbated this crisis.”

He added that “the House of Representatives hosted the Governor of the Central Bank as a result of this weakness of the administration,” noting that “the coming period will also witness the questioning of the governor of the central bank if the situation continues as it is.”  LINK

The Dollar Is Declining Slightly Against The Dinar, After A Worrying Jump

Economie| 11:16 – 18/12/2020   BAGHDAD – Mawazine News  The exchange rate of the dollar against the Iraqi dinar showed, today, Friday, a slight decrease, after the jump that occurred in exchange rates yesterday. The selling price of the dollar at exchange offices came: 132,500.

The purchase price of the dollar came to 130,000.

The exchange rate of the dollar against foreign currencies, as it came against the Iranian Toman:

100 dollars compared to 2,480 tomans, and 100 euros for every 122.55 dollars.

Every 100 pounds for 135.47 dollars, and 100 dollars for 773.10 Turkish liras.

As for the global price of an ounce of gold, it is 1881.36, while the price of a barrel of crude oil is $ 51.35, while the price of a barrel of US crude oil came to $ 48.41.

https://www.mawazin.net/Details.aspx?jimare=134684

The Dollar Records 132,500 Dinars On The Local Stock Exchange

Friday 18, December 2020 10:42 | Economical Views: 225Baghdad / The dollar exchange rate recorded a new high against the dinar on Friday on the local stock market.

The selling price of the dollar was 132,500 dinars against $ 100, and the dollar’s purchase price was 130,000 dinars against $ 100, which is an approximate and unstable price.  https://ninanews.com/Website/News/Details?key=876956

Al-Bawi: The Government Is Entering The People Into A Cycle Of Terror By Leaking The Distorted Draft Of The Budget

10:40 – 12/18/2020  The information / private, political analyst Hazem Al-Bawi said, that the government, after leaking the draft budget, in its distorted form, has entered the people into a cycle of terror.

Al-Bawi said to “the information”, that “the leakage of such a pressuring and unjustified austerity plan will cause the street to boil down as a result of the confusion in the management of the country’s economic file.

He said that the government talk about what was leaked was a technical error is not correct, but what happened is a planned matter and it has been done. Launching it as a balloon is a test to feel the pulse of the street, exhausted by the behavior of the government and advisory team surrounding Kazemi.

Al-Bawi warned against imposing these coercive measures and following the method of starving the people in light of the rise in global oil prices to 51 dollars, which negates the need to persecute the people in this miserable and unjustified manner.     https://www.almaalomah.com/2020/12/18/510716/

Deputy: The Leaked Draft Budget Is Catastrophic And Will Not Be Passed In Parliament

Time: 12/18/2020 13:34:09 Read: 3,614 times   {Baghdad: Al Furat News} Representative of the State of Law bloc, Mansour Al-Baiji, expressed of the “reform measures undertaken by the government that were proposed through a copy of the leaked financial budget draft and” containing catastrophic points that will lead to great harm to all the Iraqi people, and this matter cannot be accepted Permanently”.

Al-Baiji explained in a statement that Al-Furat News received a copy of, “It would have been better for the government to take more serious reform steps through its support for the industry, agriculture and trade sectors to supplement the budget, not to cut off the people’s livelihood and raise the value of the dollar against the dinar, which would cause an economic disaster for the country.” .

He added, “If the budget law is sent in its leaked form, we will not pass it through the House of Representatives, and we will not be a reason to punish our people in this disastrous way under the name of reforming the economy or any other name because this matter is considered destruction for our people.”

Al-Baiji explained that “the current situation in the country does not bear such wages, especially since our people are waiting for a lot from the government in the next year’s budget, such as the release of job grades and salaries of free lecturers, the return of their contracts canceled and the confirmation of contracts because the government does not cut salaries and other things will lead to the collapse of the general situation in the country.”

He called on the government to “review itself and take more serious measures, especially in the next year’s budget, before sending it to Parliament in its leaked form, because we will not pass next year’s budget in this format, and we will not stand against our people, whatever the reason.”

It is noteworthy that a copy of the draft fiscal budget for 2021 was leaked earlier to the media and social networking sites, and sparked widespread controversy and turmoil in the foreign currency market, as the exchange rate of the dollar on the local market rose in a frenzy and exceeded 1,300 dinars.  LINK

MP Badr Karim Al-Muhammadawi Calls On The Government To “Correct” The Budget Process

Pratha News Agency78 2020-12-18  On Friday, the representative of the Badr Karim Aliwi al-Muhammadawi bloc called on the government to correct the course of the federal budget in its correct form that is in the interest of the people, warning of tension in the street and the negative impact on it in case files are presented that do not serve the interest of the citizen.

Al-Muhammadawi said in a press interview that “the budget that was leaked to the media does not meet the demands of the Iraqi people, especially that the people are going through a difficult stage of weak economy and health situation,” noting that “the budget talks about one thing and the people talk about something else.”

He added that “the budget spoke about deductions in the salaries of employees by up to 60%, which is incorrect and cannot be accepted, given that salaries are delayed every month, which increases the difficulties for the citizen and directly affects the economic situation.”

Pointing out that “the advent of the budget in this way is not satisfactory to the Iraqi people and the representatives of the lawn, therefore, the House of Representatives and the government should pay attention to this matter and address these matters.”

He pointed out that “the leaked budget was the reason for the high exchange rates of the dollar against the local currency, which had a negative impact on the Iraqi market.”

He called on the government to “correct the course of the budget in its correct form that is in the interest of the people because our primary goal is to satisfy the people and achieve their demands instead of putting up the files of street tension and the negative impact on it and on the security and economic situations in the country.” http://burathanews.com/arabic/news/382677

Deputy: Theft Of $ 150 Million In The Budget Next Year

Time: 12/18/2020 11:32:46 Read: 6,695 times  {Baghdad: Al Furat News} Representative Alia Nassif revealed a paragraph in the fiscal budget for 2021 that contains millions of dollars of corruption, indicating that there are common known names in this theft.

Nassif said in a statement today, the Euphrates News Agency received a copy of it, that “in light of the difficult economic circumstance and the semi-empty treasury and the scarcity of employees’ salaries, the corrupt are mastering the theft of public money and their greed does not stop even in times of crisis and lack of funds, and today there is a paragraph in the budget of the year.

The next includes the theft of $ 150 million through a loan to a company that owns two names, and these thefts are an extension of the thefts of {Luay Al-Khatib} {former Minister of Electricity}. We will explain to the Iraqi public opinion the details of this process, the place where the deal was concluded and who are the partners in it. ”

She indicated that “the current situation is very worrying, considering that one article of the budget will be theft of $ 150 million through a loan, led by Luay Al-Khatib’s gang, director general, minister and official in the former regime in Dubai,” calling on the Prime Minister, the Integrity Commission and the honorable deputies to “stand up against This theft and an end to this misuse of public money. ”

It is noteworthy that a copy of the draft federal budget law for 2021 was leaked yesterday in the media and included fixing the exchange rate of the dollar against the Iraqi dinar on the basis of {1450} and a deficit that exceeded 58 trillion Iraqi dinars, and the estimated revenues from exporting crude oil were calculated based on the price of 42 dollars Per barrel, and at the rate of exporting 3 million and 250 thousand barrels per day, including 250 thousand barrels exported from the Kurdistan region.  LINK

Parliamentary Finance “Refuses” To Deduct Employees’ Allocations And Brandishes “Hosting And Interrogations.”

Pratha News Agency106 2020-12-18  On Friday, a member of the Parliamentary Finance Committee, Naji Al-Saidi, confirmed the committee’s rejection of any deductions in the allocations and salaries of the “simple” employee within the 2021 budget, while suggesting hosting and parliamentary interrogations to the government if the draft budget leaked to the media is correct.

Al-Saeedi said in a press interview that “the leakage of the draft budget bill, although it was not officially approved within the Council of Ministers nor did it reach the House of Representatives and the Finance Committee, had a very large negative impact on the exchange rate of the dollar against the dinar,” indicating that “the factor of expectations of an increase in the price The exchange increased the demand for the dollar and increased its price. ”

Al-Saeedi added, “It is very unfortunate that the entire government has not been able to preserve the draft budget until it reaches the parliament, considering that it is a draft law and it will not be enforceable without the parliament voting on it.”

Pointing out that “the previous statements of the Prime Minister of the possibility of not having salaries for the next month and the subsequent leakage of the draft budget are all matters that have negatively affected the Iraqi economy and the poor citizen is the one who pays a tax.”

He pointed out that “the budget has not reached the House of Representatives, nor has a vote on it in the Council of Ministers, and this copy was leaked from the Cabinet or one of the ministers in the government, it is a negative thing, considering that it included setting the exchange rate of the dollar against the dinar at 1445, which is something that has a negative impact.” On the market and led to the collapse of part of the local currency’s value. ”

Al-Saeidy stressed that “if the draft published in the media is real, we will take all legal measures against the government through the House of Representatives in general and the Finance Committee in particular, and through the means guaranteed by the law, through hosting or interrogation.”

He continued, “There are brokers and beneficiaries, and it is not possible to deny the role of the joint banks in the window of selling the currency, considering that they are the only party benefiting from the high exchange rate of the dollar by taking advantage of the price difference between the central bank and the local market,” blaming the Minister of Finance “responsibility for what is happening from the collapse As a result of the negative statements and the leakage of the draft budget, what impact on the street.

Al-Saeidy pointed out that “the sudden increase in the exchange rate did not benefit the state, and the only beneficiaries were the banks participating in the auction of currency sale that carry different agendas. Therefore, the Finance Committee will have strong positions to defend the value of the dinar and the rights of employees and reject any deductions altogether and cannot be increased.”

The exchange rate is what leads to a decrease in the value of the currency and at the same time a deduction from the employees, which means that the deduction will be doubled, and all this represents destruction for the simple employee. We will work to correct this path and we will not allow those negative agendas to pass at the expense of the simple citizen.    http://burathanews.com/arabic/news/382673

Parliamentary Finance Refuses To Deduct Employee Allocations

Money  and business   Economy News _ Baghdad  On Friday, a member of the Parliamentary Finance Committee, Naji Al-Saidi, confirmed the committee’s rejection of any deductions in the allocations and salaries of the “simple” employee within the 2021 budget, while suggesting hosting and parliamentary interrogations to the government if the draft budget leaked to the media is correct.

Al-Saeedi said in a press interview, “The leakage of the draft budget bill, although it was not officially approved within the cabinet, nor did it reach the House of Representatives and the Finance Committee, had a very large negative impact on the exchange rate of the dollar against the dinar.” The exchange rate increased the demand for the dollar and increased its price. ”

Al-Saeidy added, “Unfortunately, the entire government has not been able to maintain a draft budget until it reaches the House of Representatives, considering that it is a draft law and it will not be effective without a vote by the House of Representatives on it,” noting that “the previous statements of the Prime Minister of the possibility of no salaries For the next month and the subsequent leakage of a draft budget, all matters have a negative impact on the Iraqi economy and the poor citizen is the one who pays the tax.

Number of observations 188 Date of addendum 12/18/2020    https://economy-news.net/content.php?id=23194

The House Of Representatives Votes On A Bill To Finance The Upcoming Election Expenses

12/17/2020  The House of Representatives voted in its thirtieth session, which was held under the chairmanship of Mr. Muhammad Al-Halbousi, Speaker of the House, this evening, Thursday 12/17/2020, and in the presence of 197 deputies, the law on allocating and financing the expenses of the House of Representatives elections and finished reading and discussing four laws .

At the beginning of the session, the Council postponed considering the appeals submitted about the validity of the membership of some women and gentlemen, in addition to postponing the vote on the proposal for the National Sports Federations Law submitted by the Youth and Sports Committee until the Minister of Youth and Sports is hosted next Saturday.

The Council ended reading the report and discussion of the draft law on the accession of the Republic of Iraq to the International Convention on Ship Systems Resistant to Adhesion Impurities and Bad Effects of 2001 submitted by the Foreign Relations Committee.

The Council completed the first reading of the draft law ratifying an agreement between the government of the Republic of Iraq and the government of the Republic of Tunisia on air services between their two regions, submitted by the Foreign Relations Committee to enhance cooperation in establishing and operating international airlines between the regions of the Republic of Iraq and the Republic of Tunisia on the routes specified in the annex of the agreement.

The House of Representatives completed the first reading of the draft law on the accession of the Republic of Iraq to the Nuclear Safety Agreement, submitted by the Committee on Foreign Relations, to achieve and maintain a high level of nuclear safety worldwide through strengthening national measures and international cooperation.

Deputy Muzaffar Al-Fadl read a statement calling for the appointment of graduates from the oil field engineers who demonstrated in front of the Southern Refineries Company, calling on the House of Representatives to intervene to address their demands, in addition to following up on the assault that affected them during the demonstration and holding accountable the negligent.

The House of Representatives began reading the report and discussing the draft law of the first amendment to the Iraqi National Oil Company Law No. (4) of 2018 submitted by the Oil, Energy and Natural Resources Committee after agreeing to include it on the session’s agenda.

The parliament voted on the draft law on allocating and financing the expenses of the elections to the House of Representatives, submitted by the Financial and Legal Committees, due to the approaching date of holding the House of Representatives elections, and not sending the draft Federal Budget Law for the year 2020 to the parliament and for the purpose of the success of the elections and enabling the Independent High Electoral Commission to prepare for the elections.

At the conclusion of the session, the President of the Council called all of the heads of political blocs, the legal committee, and those who wish from the ladies and gentlemen of representatives to attend the meeting that will be held next Saturday to discuss the Federal Court law.

After that, it was decided to raise the session to next Saturday 19/12/2020

Information Department   Parliament  12/17/2020   LINK 

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