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More Iraqi News Monday AM 2-15-21

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Al-Kazemi To The Vatican Ambassador: The Pope’s Visit Will Contribute To The Consolidation Of Stability In Iraq And The Region

Political  Sunday 14 February 2021 | 05:32 pm| Views: 56   The Prime Minister, Mustafa Al-Kazemi, received Mittja Skofer, the Vatican Ambassador in Baghdad. During the meeting, they discussed arrangements for the scheduled visit of His Holiness Pope Francis to Iraq next month. Al-Kazemi stressed during the meeting: “The visit of His Holiness the Pope will contribute to consolidating stability and spreading the spirit of brotherhood in Iraq and throughout the region.”    https://aynaliraqnews.com/index.php?aa=news&id22=143789

Is There A Threat To Hard Currency Reserves? The Central Bank Explains

Economie| 11:52 – 02/14/2021  BAGHDAD – Mawazine News  The Central Bank of Iraq ruled out, on Sunday, the existence of a threat to hard currency reserves as a result of borrowing, indicating that the oil market recovery maximizes the reserve.

The Director General of the Accounting Department at the Central Bank, Ihssan Shamran, said, according to the official agency, that “the dollar reserve of the Central Bank is not directly affected by the borrowings that the Ministry of Finance makes from banks,” noting that “its impact is indirect and limited.”

He pointed out, “The Central Bank monitors and ensures the safety of Iraqi dinars that are handed over to traders to buy dollars for fear that their sources are unknown or related to money laundering crimes, after which the dollar is delivered.”

He explained that “the market now feels a little relaxed after changing the exchange rate, which contributed to reducing the import process and creating competition between Iraqi and foreign goods,” noting that “changing the exchange rate will help the national product in marketing its goods after the imported goods have become high in value by about 22%.”

He pointed out that “the change in the exchange rate made by the Central Bank in favor of supporting the national product against the importer.”

He continued, “The recovery of the oil market would maximize the hard currency needs and reduce the deficit in the general budget for 2021, noting that the dollars collected from the oil sales differences will strengthen the foreign operation reserves of the Central Bank, and this will also reduce the pressure on the bank’s reserves of currency.”   https://www.mawazin.net/Details.aspx?jimare=141625

The Central Bank Rules Out The Existence Of A Threat To Hard Currency Reserves Due To Borrowing

Sunday 14, February 2021 12:55 | Economical Views: 325  Baghdad / NINA / The Central Bank of Iraq ruled out a threat to hard currency reserves as a result of borrowing, indicating that the oil market recovery maximizes reserves.

The Director General of the Accounting Department at the Central Bank, Ihssan Shamran, said, according to the official agency, today, Sunday, that “the dollar reserves of the Central Bank are not directly affected by the borrowings made by the Ministry of Finance from banks,” noting that “their impact is indirect and limited.”

He pointed out that “the central bank is monitoring and ensuring the integrity of Iraqi dinars that are handed over to traders to buy dollars for fear that their sources are unknown or related to money laundering crimes. Then the dollar is delivered.”

He explained that the market is now feeling a little relaxed after changing the exchange rate, which contributed to reducing the import process and creating competition between Iraqi and foreign goods, noting that changing the exchange rate would help the national product in marketing its goods after the imported goods became high in value by 22%.

He pointed out that “the change in the exchange rate made by the Central Bank in favor of supporting the national product against the importer.”

He continued, “The recovery of the oil market would maximize the hard currency needs and reduce the deficit in the general budget for 2021, noting that the dollars collected from the oil sale differences will strengthen the foreign operation reserves of the Central Bank, and this will also reduce pressure on the bank’s reserves of currency.   https://ninanews.com/Website/News/Details?key=887723

The Rise Of The Dollar In Iraq Today

Time: 02/14/2021 13:07:03 Read: 7,228 times   {Baghdad: Al Furat News} The exchange rate of the dollar rose slightly in Iraq today, Sunday.   The exchange rate in Baghdad was 1459 dinars, or 145 thousand and 900 dinars for one hundred dollars, which is the same price in Basra Governorate.

In Erbil, the dollar rose to 1,461 dollars, or 146 thousand and 100 dinars for one hundred dollars.

https://alforatnews.com/news/%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D9%84%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%84%D9%8A%D9%88%D9%85

Iraq Stock Exchange Trading Indicators

Time: 02/14/2021 14:58:52 Read: 637 times   {Baghdad: Al Furat News} The currency auction announced today, Sunday, the Iraqi Stock Exchange trading indicators for today

The indicators were as follows:

The number of listed companies reached 104 companies

The number of traded companies reached 30 companies

The number of shares traded reached (2,147,189,226) shares.

The value of shares (1,299,594,480) dinars.

The ISX60 price index closed at (523.67) today’s session, up by (0.21%) than its previous session’s close of (522.55) points.

Trading in shares of (30) companies out of (104) companies listed in the market.

The number of companies suspended by a decision of the Securities Commission for failing to comply with the instructions for financial disclosure is (22) companies.

The number of shares purchased from non-Iraqi investors in the market reached (812) million shares, at a value of (560) million dinars, through the implementation of (99) deals on shares of (6) companies.

The number of shares sold by non-Iraqi investors in the market reached (20) thousand shares, with a value of (1) million dinars, through the implementation of (2) transactions on the shares of one company.   LINK

Mazhar Muhammad Salih To / Nina /: There Is A Study To Establish A Large Development Bank For Easy Lending And Large Projects

Sunday 14, February 2021 11:57 | Economical Views: 394  Baghdad / NINA / The financial advisor to the prime minister, Mazhar Muhammad Salih, announced the existence of an advanced study to establish a large development bank for easy lending and large projects.

He told the Iraqi National News Agency / NINA / that: Establishing this bank will be the beginning of changing the philosophy of government support from consumption to investment and production.

Saleh added that: The government’s policy will not be limited to granting loans to housing projects, but will develop through the establishment of this bank and in accordance with the laws of effective investment, industrial development and others.   Saleh promised these steps among the reform transformations sought by the White Paper. / End 3    https://ninanews.com/Website/News/Details?Key=887702

The IMF Expects The Iraqi Economy To Recover In 2024

Monday 15th February 2021   45  Baghdad: Morning  The International Monetary Fund expected that the Iraqi economy will recover gradually, and that imbalances will diminish, although the prospects remain fraught with challenges. In a statement followed by Al-Sabah, the Fund expected, in its Executive Board’s consultations for Article IV of 2020 with Iraq, which were held in Washington, that the real GDP would return to the pre-pandemic level by 2024, and that the fiscal deficit and the external current account would decline in the long term. Average government debt is expected to reach its peak in 2023 and then gradually decline.

Executive Directors agreed with the guideline for the IMF staff’s assessment, noting the exacerbation of the existing socio-economic vulnerabilities in Iraq due to the Covid-19 pandemic and the sharp decline in oil revenues.

The draft 2021 budget referred to Parliament aims to reduce the fiscal deficit to contain the unsustainable expansion of government wages and pension costs and to increase non-oil revenues, with a significant increase in aid directed to protect the most vulnerable groups.

Directors emphasized that reducing public financial imbalances is necessary to ensure the sustainability of public finances and that debt remains within sustainable limits. They welcomed the fiscal reforms that the authorities are planning to undertake, as mentioned in the White Paper, and urged that care be taken in setting their priorities and speeding up their implementation with the limit. Of its impact on the categories Fragile.

They stressed the importance of strengthening public financial resources, a comprehensive reform of the civil service to contain the public sector wage bill, and re-adjusting the pension system to put it on a stable fiscal path. Priority should also be given to increasing non-oil revenues and strengthening public financial management to reduce spending outside allocations. The budget.

They agreed that adjusting the exchange rate would help reduce external imbalances and preserve foreign exchange reserves. They stressed that a strong fiscal framework is still necessary to ensure the credibility of the new exchange rate against the dollar and reduce the need for monetary financing for the budget in the future.

Directors noted the authorities’ interest in entering into an emergency financing agreement with the fund to support their efforts for stabilization and reform, while some urged a longer-term arrangement to address structural challenges.   LINK

Organizing The Procedures For Collecting Customs And Tax Duties

Monday 15th February 2021   31   Baghdad: Morning   The General Director of the General Company for Iraqi Fairs and Commercial Services, one of the formations of the Ministry of Trade, Sarmad Taha Saeed, confirmed the discussion of the issue of collecting the amounts of customs and tax fees for goods imported from all border outlets and collecting them in advance by the banks approved by the bank Central.

We held a meeting at the Central Bank headed by the head of the Border Ports Authority, Major General Dr. Omar Adnan Al-Waeli, and in the presence of the directors of the Central Bank and representatives of the General Authority of Customs and the General Secretariat of the Council of Ministers, organizing the procedures for collecting customs duties and taxes.

He continued, “The topic was expanded with discussions and coming up with a study presented to the Chairman of the Diwaniya Order Committee 22 for the year 2020, Secretary-General of the Council of Ministers Hamid Al-Ghazi, and the electronic linking of the data issued by the Central, Taxes and Customs, Exhibitions Company and the Border Ports Authority to control invoices issued for the import of goods and the pre-fulfillment of their customs duties And taxation in order to tighten control over state revenues and prevent waste of public money.

The Director-General indicated that “this step comes to organize the work and exercise the supervisory role by using the electronic governance system on all the work joints of the working departments at the border outlets.”   LINK 

Plasschaert Informs The Security Council Tomorrow On Developments In Iraq

Time: 02/15/2021 15:31:05 Read: 1,729 times   {Baghdad: Al Furat News} The Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennes-Plasschaert, will brief the United Nations Security Council on developments in Iraq and the United Nations Assistance Mission for Iraq (UNAMI) on Tuesday.

.According to UNAMI’s statement, the briefing will be at six o’clock in the evening, Baghdad time.

The session will be broadcast live on the website {click here }, and the text of the UN Special Representative’s briefing will be published in both Arabic and English.

The latest report submitted by the Secretary-General to the Security Council regarding the situation in Iraq can be found via the following link:   LINK

Iraq Is At The Security Council Table Tomorrow

Time: 02/15/2021 13:18:10 Read: 3,172 times   {Follow-up: Al Furat News} This week, the members of the United Nations Security Council will have a number of discussions, as the Technical Training Center will present on Tuesday a briefing and consultations on the United Nations Assistance Mission for Iraq.

Next Wednesday, the members of the Council will witness a high-level open discussion on the WED vocational training program, which focuses on equitable access to Corona vaccines in contexts affected by conflict and insecurity, and the Technical Training Center will present discussions Thursday on the situation in Yemen.

It is noteworthy that the United Kingdom will assume the presidency of the Security Council for next February, succeeding the presidency of the State of Tunisia to the Council during the month of January, and Britain focuses its discussion on climate change and the “Covid-19” pandemic, and many sessions deal with equal access to vaccines Especially in conflict-affected areas. LINK

Al-Kaabi Offers Condolences On The Death Of Former Deputy Prime Minister Rose Nuri Shawish

02/15/2021   Mr. Hassan Karim Al Kaabi, First Deputy Speaker of Parliament, has condoled the death of the former Deputy Prime Minister and member of the political bureau of the Kurdistan Democratic Party, Rose Nuri Shawish, “may God have mercy on him”.

Al-Kaabi said in a statement today, Monday, February 15, 2021: “It is with great sadness and sadness that we received this morning the news of the death of one of the major Kurdish political figures, the former Deputy Prime Minister and a member of the political bureau in the Kurdistan Democratic Party, Rose Nuri Shaweesh.

The First Vice President expressed the most sincere sympathy and condolences to the Kurdish people, the family of the deceased, his loved ones, and his companions, asking the Almighty to grant the late mercy to him and to dwell in his spaciousness and to inspire his family and his relatives patience and solace. The Media Office of the   First Deputy Speaker of Parliament 2/15/2021   LINK