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More Iraqi News Wednesday PM 12-30-20

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The Central Bank’s Dollar Sales Are Collapsing

Time: 12/30/2020 11:15:55 Read: 4,381 times  {Baghdad: Al Furat News} The Central Bank of Iraq’s dollar sales continue to decline in an unprecedented way.

According to the bank’s daily bulletin on the currency auction on Wednesday, the total sale for the purposes of strengthening funds abroad {transfers, credits} 12 million and 754 thousand and 239 dollars, while the cash sale was one million and 300 thousand dollars.   While the total sales were 14 million 54 thousand and 239 dollars. Yesterday’s foreign currency auction sales were $ 15 million.

The central bank sells dollars for the sums transferred to bank accounts abroad at a price of {1460} dinars per dollar, and cash sales at {1460} dinars per dollar, in implementation of its recent decision to raise the exchange rate.  LINK

The Central Bank’s Dollar Sales Are Declining For The Fourth Consecutive Day

Economie| 01:04 – 12/30/2020   BAGHDAD – Mawazine News  correspondent, / Mawazine News /, reported, on Wednesday, that the Central Bank of Iraq’s sales of the dollar have declined for the fourth consecutive day.

Our correspondent said, “The Central Bank, according to its daily bulletin, witnessed during today’s auction for the sale and purchase of foreign currencies a decrease of 6.6%, to reach 14 million 54 thousand and 239 dollars, at an exchange rate of 1460 dinars per dollar.”

He added, “The request was distributed by 12 million and 754 thousand and 239 dollars to strengthen the funds abroad in the form of transfers and appropriations, while the rest, amounting to one million and 300 thousand dollars, was distributed in the form of cash sale.”

And our correspondent pointed out, that “four banks have met requests to enhance assets abroad, while one bank has met the cash requests inside Iraq.”

The central bank’s sales yesterday, Tuesday, amounted to 15 million and 47 thousand dollars.

The Rise Of The Dollar In Iraq Today

Time: 12/30/2020 11:04:17 Read: 22,932 times    {Baghdad: Al Furat News} The exchange rate of the dollar in Iraq continues to rise today, Wednesday.

The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad was 1438 dinars, or 143 thousand and 800 dinars per hundred dollars.    Yesterday’s price in Baghdad was 1430 dinars.

And in the governorates of Erbil and Basra, the dollar rose today to 1,435 dinars.

As for the exchange office prices, they also increased to 1447.5 dinars for sale and 1427.5 dinars for purchase.

Parliamentary Finance: 80 Trillion Dinars, The Actual Spending Of The Iraqi State In 2020

Money and business   Economy News – Baghdad    A member of the Parliamentary Finance Committee, Naji Al-Saeedi, revealed that the actual spending of the Iraqi state in 2020 amounted to 80 trillion dinars, pointing out that the House of Representatives rejects the employee deductions included in the 2021 budget.

Al-Saeedi said in a statement reported by state television and seen by “Al-Eqtisad News”, that raising the volume of spending in the 2021 budget to 160 trillion dinars is illogical and “we are working to reduce these expenditures.”

He added that “the deficit in the 2021 budget is imaginary and exaggerated,” revealing that “the actual spending of the Iraqi state did not exceed 80 trillion dinars in 2020.”

He stressed that “the period of one month set by the House of Representatives is sufficient to approve the budget law and amend it on the side that supports the disadvantaged segments of society,” noting that “the parliament rejects the mechanism included in the budget for deducting salaries of employees.”

Al-Saeedi added, “The Council is working to support the items of the national card at an amount of 6 trillion, after it was 2 trillion dinars.”   Number of observations 129 Date of addendum 12/30/2020

Iran Announces That It Has Received 700 Thousand Dollars Of Its Debts Owed By Iraq

Energy   Economy News – Baghdad   Iranian Energy Minister Reza Ardakanian announced that Iran has received 700 thousand dollars of its debts with Iraq from electricity and gas exports, according to what was reported in “Iran International Arabi “.  Yesterday, Iran informed Iraq that it would immediately resume pumping gas to power plants .

The Iranian Energy Minister arrived in Baghdad yesterday to discuss obstacles to exporting electricity and gas to Iraq, according to Fars News Agency .

The Iranian Energy Minister met with Iraqi Prime Minister Mustafa Al-Kazemi, the Minister of Trade and the Governor of the Central Bank .

This decision is a reversal of the previous decision in the past two days, as Iran announced that it had reduced gas fuel exports to Iraq by nearly half for “non-payment of debts .”

The Iranian Ministry of Oil has repeatedly asked Iraq to pay off the debts of gas and electricity imported from Tehran .

In turn, the Iraqi Ministry of Electricity said, last Sunday, that the capital, Baghdad, and other cities are facing the risk of major power outages after Iran reduced gas exports, before Tehran reverses its decision, Tuesday .

Iraq used to export 11,000 barrels of oil from Kirkuk wells, but that stopped due to US sanctions on Iran.

Number of observations 136 Date of addendum 12/30/2020

Deputy: The Region’s Failure To Deliver Its Imports To The Center Will Deprive It Of Next Year’s Budget

Money  and business   Economy News _ Baghdad   MP Mansour Al-Baiji said, on Wednesday, that the Kurdistan Regional Government’s failure to deliver its imports to the center will completely deprive it of next year’s budget.

In a statement received by Al-Eqtisad News, Al-Baiji stressed that “the Kurdistan Regional Government’s failure to hand over all its resources to the federal government will prevent it from receiving any amount from the federal government during the next year and it bears full responsibility towards our people in the region.”

He pointed out, “Despite the presence of the Kurdish delegation to Baghdad, and it is not the first or last delegation to come to the conclusion that the negotiations are vague and there is still no final agreement with the federal government despite the popular upheaval in the region, but the Kurdistan government has not and will not receive its returns, which will deny it. Who received any amount during the next year due to lack of commitment, as in other governorates.

He stressed by saying, “The Kurdistan Regional Government must be well aware that without surrendering its full revenues to the federal government, it will not receive a single dinar during the next year, as happened with the public borrowing law voted by the parliament which stipulated that the regional government hand over its revenues in advance and then receive its right as it receives the rest Other provinces. ”

He explained, “Our people in the region must realize one fact that the one who caused the cut of their salaries is their government, which does not abide by the law and the constitution and hand over its revenues to the federal government, as is the case with the rest of the other provinces. On the contrary, the regional government exports oil and takes customs and airports money, and we do not know where it goes.”

Al-Buaiji concluded by saying: “Therefore, any agreement with the regional government has not yet been formally established, and the delegation did not reach a final agreement with the federal government due to the region’s failure to submit to the federal government, and thus the region’s government is the one who bears the legal and constitutional responsibility towards its people because of its failure to deliver its revenues. To the center completely, just like in other governorates.    Number of observations 97 date of addition 12/30/2020

Al-Fariji To Nina: Iraq Is One Of The Most Dangerous Countries In The Process Of Laundering And Smuggling Money In The World

Wednesday 30, December 2020 10:33 | Economical Views: 221   Baghdad / NINA / The specialist in economic affairs, Ali Jabbar Al-Freiji, confirmed that Iraq is one of the most dangerous countries in the process of laundering and smuggling money in the world.

Al-Freiji said in a statement to the Iraqi National News Agency / NINA / that: In May 2020, the European Union re-placed Iraq on the list of high-risk countries in money laundering and terrorist financing, although the Union in 2018 removed Iraq from its blacklist despite its first place in Basel Index report for the year 2017 as the most dangerous country in the field of money laundering, but the Iraqi governments failed to take advantage of this opportunity to improve the country’s image, and went in directions worse than before.

He added: Estimates indicate more than 300-500 billion dollars were wasted and manipulated through channels used to smuggle, launder and steal money, including – still, smuggling of oil programmed under state control is still more than 350 thousand barrels per day, equivalent to 10% of total oil exports, drug trafficking. Border outlets, including outlets in northern Iraq that are not controlled and whose losses (thefts) are estimated at the equivalent of 7-11 billion dollars annually, financial allocations for fictitious projects. ”

He pointed out that: More than 2000 offices and financial institutions work in what is called selling currency and money transfers Over the past years, the corrupt gates were involved in smuggling and money laundering. ”

He continued, “Estimates of money smuggled from Iraq exceeded corruption and theft of the largest number recorded in modern history, which happened in South Africa in 1986, which was $ 167 billion. /

An Economist Warns Of The Risks Of Unavailability Of Financial Liquidity To Pay Public Spending In Dinars During The Next Month

Wednesday 30, December 2020 09:24 | Economical Views: 183  Baghdad ( NINA ) – Economic expert Safwan Qusay warned of the dangers of unavailability of financial liquidity to pay public spending in dinars during the next month.

Qusay said in a statement to the Iraqi National News Agency / NINA / that: In light of the decline in the value of the Iraqi dinar to 1460 dinars per US dollar, the Central Bank of Iraq sales decreased sharply to about 20% of its regular sales, and this indicates the possibility of increasing the reserves of the Central Bank due to the presence of A live dollar is sold at a lower price than the central bank’s rate in the parallel market, and thus the Ministry of Finance will face in the coming period the problem of providing liquidity in Iraqi dinars to pay public spending in Iraqi dinars during the next month.

Qusay stressed the importance for the Ministry of Finance to think about the possibility of buying dollars from the parallel market at a lower price than the official price pending a price balance in the markets or allowing banks to invest in buying dollars from the parallel market as long as it is currently sold at a lower price and thus the Ministry of Finance will have a window for purchase. And resale outside the framework of federal oil imports.

”He  stressed the need for“ the Federal Office of Financial Supervision to supervise purchases in order to ensure the nationality of these foreign currencies available outside the banking system and not allow unclean funding sources to flow into Iraqi financial markets. ”

The Central Bank set a selling price. The dollar is 146 thousand dinars for every 100 dollars, and the banks charged the adoption of an official price

Representative Economy: Parliament Will Make Fundamental Adjustments To The Budget … These Are The Most Prominent Of Them

The information / Baghdad ..The Parliamentary Economic and Investment Committee confirmed, on Wednesday, that the House of Representatives will make fundamental amendments to the austerity measures put in place by the government in the budget law, indicating that the increase in the exchange rate will affect the salary through the high prices of goods and goods.

Member of the committee, MP Mazen Al-Faili, said in a statement to / information /, that “the draft federal budget law that was submitted by the government to Parliament includes austerity measures that are harmful to the citizen and will be burdensome,” explaining that “Parliament will make fundamental amendments to these procedures.”

He added that “raising the price of selling the dollar compared to the dinar is surprising because it will have consequences for all citizens, especially those with limited income and the poor,” indicating that “Parliament will work to reduce the value of the Iraqi dinar.”

It is noteworthy that the deputy of the Saeron Alliance, Riyad Al-Masoudi, confirmed in a previous statement to / the information /, that most of the political blocs do not want what was stated in the budget of deducting percentages for employees’ salaries and that is a red line and we will not vote on it. Ended / 25 AD

Parliamentary Integrity Talks About “Hidden Corruption” In The 2021 Budget

10:57 – 12/30/2020  The information / Baghdad ..   A member of the Parliamentary Integrity Committee, Alia Nassif, confirmed, on Wednesday, that the 2021 budget carries with it “hidden corruption,” noting that the government has gone about monopolistic contracts and loans intended to drain the Iraqi state funds. Suspect

“Instead of reducing corruption, the government has gone towards monopolistic contracts and loans, the purpose of which is to drain Iraqi funds with projects and numbers that are not accurate,” Nassif said in a statement to “the information”.

She added that “the House of Representatives is against targeting the salaries of Iraqi state employees, with the exception of higher ranks,” stressing that “the budget carries with it mined materials and hidden corruption.”

Yesterday, the Finance Committee in the House of Representatives described Prime Minister Mustafa Al-Kazemi’s talk regarding reform in the 2021 budget as contradictory.

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