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Iraqi News Iraqi News Friday AM 3-19-21

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An Economist Is Likely To Keep The Dollar Exchange Rate Until The End Of This Year

Friday 19, March 2021 12:36 | Economical Views: 295  Baghdad / NINA / The expert in economic affairs, Malaz Al-Amin, said that the dollar exchange rate will remain until the end of this year.

The secretary said in a statement to the Iraqi National News Agency / NINA / that “the central bank is the one who owns the monetary policy fee, and he finds that the difference between the old and the new price can contribute to bridging the deficit, repaying Iraq’s debts and increasing the cash reserve of hard currency.”

The secretary added: “The budget law must contain paragraphs to help poor families affected by the high dollar exchange rate.”  The Parliamentary Finance Committee announced that the exchange rate in the draft budget law submitted for voting remains at what it is 1450 dinars per dollar. / End

Economist To / NINA /: “Despite The Rise In The Price Of Oil … The Price Of The Dollar Is Still High In Iraq … And The Central Bank Is The Reason

Friday 19, March 2021 11:47 | EconomicalViews: 284  Baghdad / NINA / Economist Raad Twig criticized the central bank’s monopoly on the dollar, stressing: “The rise in the price of Basra oil to $ 70 a barrel will not be able to reduce the price of the dollar in Iraq.”

Twig said in a statement to the Iraqi National News Agency ( NINA ): “Despite the high oil prices and the price of Basra crude reaching $ 70, the price of the dollar is still high within what is targeted by the Central Bank of Iraq, about 145 thousand dinars for one hundred dollars,” attributing that For the lack of other major sources to sell the dollar.

He pointed out that “the main source for selling the dollar is the central bank’s currency window, and other sellers of the dollar are mere intermediaries for what the currency window is to generate, and therefore the exchange rate cannot deviate from the orbit of the central bank’s monetary policy and the rate it sets.”

The rentier economy dependent on oil and the Iraqi economy’s dependence on the monetary position of the government as a source of dollars. The market mechanisms of the Iraqi economy are incomplete or disrupted until the emergence of large productive forces from the private or mixed sector or even government with the ability to export in order to achieve self-sufficiency, replacing import. .

He continued: “The availability of other sources for the economy will be a real source for the dollar and can break the monopoly of the Central Bank as the only source of the rentier dollar, and thus the restrictions are removed from the market mechanisms and market forces work effectively and the exchange rate becomes in a real balance according to the country’s economic needs.”

Economic Specialist For / NINA /: The Exchange Rate Of The Dinar Must Be Reconsidered After Its Justifiable Disappearance

Friday 19, March 2021 12:27 | Economical Views: 259  Baghdad / NINA / Economic specialist Dergham Muhammad Ali called for a review of the exchange rate of the dinar after the justification for reducing it had ceased to exist.

In a statement to the Iraqi National News Agency ( NINA ) , Muhammad Ali said, “The inflationary effects and losses that the new exchange rate has inflicted on the local market and the citizen are put forward beyond any doubt that its negative effects are much greater than any alleged reform.”

With the drop in oil prices, it has disappeared, and its survival strongly raises the hypothesis of a common conspiracy between the political blocs for reasons to maintain the current price levels.

And between: “The accounts of the gains of the blocks go far beyond the interest in the lower-income groups that have been crushed by the new exchange rate, as the blocks are looking for compensation that the budget will allocate to contractors and investors for the exchange rate difference, in addition to taking advantage of the liquidation of the balances of dollar blocks into more dinars to buy state real estate and its agricultural lands.” Which the budget allowed to be sold. ”

He stressed, “The current year’s budget carries the biggest conspiracy against Iraq and that those who set it up and those who amend it are partners in destroying the country for the interests of their blocs,” according to him. ”

The Parliamentary Finance Committee had announced that the exchange rate in the draft budget law put to the vote remains the same. 1450 dinars to the dollar. /

Financial Committee: There Is No Change In The Price Of The Dollar In The Budget .. This Is The Reason For The Delay In The Session

Time: 03/19/2021 15:36:27 Read: 2,795 times  {Economic: Al Furat News} The Parliamentary Finance Committee announced that the exchange rate of the dollar will not be changed in the draft federal budget law for 2021.

Committee rapporteur Ahmed Al-Saffar said in a televised statement: “We believe that changing the exchange rate of the dollar was exaggerated by the government and changing it needs a second consensus between the Central Bank of Iraq, the Ministry of Finance, the International Monetary Fund and the World Bank, and many changes are arranged on it and this needs time and a second budget for this budget. To talk about changing it, indicating that “the current budget will adopt the current exchange rate.”

Regarding the delay in the session of Parliament scheduled for today, Al-Saffar said: “There is a meeting of the Shiite political forces and we are waiting for its results and proposals regarding the Kurdistan region’s share,” indicating that “the entry of a group outside the Parliamentary Finance Committee and they came with many requests, which caused the meeting to be postponed and the session held for the coming hours.”

And that “some of the submitted requests are outside the possibility of what is present within the general will and the draft budget, and the current government may contest any article that is outside the powers of Parliament and the Finance Committee or more than its capabilities and can be challenged and returned to the government text.”

The House of Representatives was scheduled to hold a session at one o’clock in the afternoon to vote on the 2021 budget bill, but it was not held until the moment when the news was prepared.   LINK

A New Statement From The Parliamentary Finance On Changing The Exchange Rate And Compensating Those Affected

Political| 12:56 – 19/03/2021   BAGHDAD – Mawazine News The Parliamentary Finance Committee commented, on Friday, on compensation for those affected by the change of the exchange rate.

The committee’s rapporteur, Ahmad al-Saffar, said, according to the official agency, that “all Iraqis are affected by the change of the exchange rate, and it is not permissible to compensate one group and leave another category,”

noting that “the change in the exchange rate has led to inflation in the market and a reduction in the purchasing power of the Iraqi dinar, and everyone has become He was affected because prices rose and real income decreased, which is no longer able to bring in the same previous consumer basket. ”

Al-Saffar added that “the compensation process is the prerogative of the government and not the parliament. Therefore, the House of Representatives cannot distinguish between one category and the other for compensation,” noting that “Parliament has left this task to the government because it is responsible for dealing with the effects of changing the exchange rate.”

He explained that “the public debt is divided into two parts, internal debt and external debt, and that the internal debt is in the Iraqi dinar from the borrowing stage to the repayment stage. As for the external debt, it is paid in dollars.”

Al-Abadi Calls For A Review Of The Exchange Rate Of The Dinar To Control Inflation

Friday 19, March 2021 10:22 | Economical Views: 328  Baghdad / NINA / The leader of the victory coalition, Haider al-Abadi, called on the House of Representatives to reconsider the exchange rate of the dinar in order to control inflation.

Al-Abadi said in a tweet on Twitter, “The reduction in the exchange rate of the dinar has negatively affected citizens, especially those with limited incomes.”

He added, “With the significant increase in oil prices during the past month, I call on the House of Representatives to stand with the citizens and reconsider the exchange rate of the dinar in order to control inflation.” / End 9

Al-Tamimi Office Denies Statements Attributed To The Deputy, Calling For A Rise In The Dollar Exchange Rate

Friday 19, March 2021 08:35 | Economical Views: 360  Baghdad / NINA / The media office of the deputy for the Finance Committee, Majida Al-Tamimi, renewed its denial of the statements attributed to the deputy regarding the demand for an increase in the dollar exchange rate.

The media office of Al-Tamimi stated in a statement, “Setting the monetary policy and setting the exchange rate is one of the powers of the Central Bank exclusively under Article (4) of the Iraqi Central Bank Law No. (56) for the year 2004 as amended, and it is not the prerogative of the Finance Committee or the House of Representatives.

” MP Magda Al-Tamimi is one of the representatives who signed the questioning of the governor of the Central Bank, and she is one of the (329) representatives in Parliament.

He explained, “The electronic armies funded by the corrupt who were exposed in front of public opinion and their interests were damaged are trying to liquidate opponents and distort the image of the supervisory authorities that exposed the thefts of corruption whales.

The current conditions are very suitable for promoting rumors and fabricating news and statements, by publishing fabricated photos of the deputy on Facebook. Writing a line or two of words indicates absolute ignorance about the campaign and its promoters. ”

And the media office continued, “As we renew our denial of these false statements, we call on our honorable people to report on these pages that aim to mislead public opinion and bring down national figures.”

The National Bond Reveals A Parliamentary Tendency To Adjust The Exchange Rate And Include Contracts In The Budget

Author: AhadNA4 On 3/19/2021 – 4:06 PM 53   Today, Friday, the National Bond bloc revealed a parliamentary tendency to adjust the exchange rate and include contracts in the budget.

The representative of the bloc, Faleh Khazali, said with a number of deputies in a press conference followed by “Al-Ahed News”, that “there are 300 thousand contracts in the Ministry of State and the lecturers whose contracts have been canceled from the Popular Mobilization Forces and the state’s obligations to complete more than six thousand projects,” indicating that “there are Several important notes that must be taken into account in the budget ”.

Khazali stressed: “We are continuing to include them, including the exchange rate and pressure on the government to return the exchange rate, which has repercussions on the citizen, and there are observations about the benefits of the Kurdistan region,” explaining: “It is not fair that Basra Governorate exports three million barrels per day and gives it to the financial, and the region. It exports more than 500 thousand barrels and delivers only 250 thousand barrels.

He pointed out that “there is no database to the region’s employees, including the Peshmerga and Asayish, and there are opponents from Turkey and Syria who receive salaries from the region at the expense of the Iraqi citizen,” noting that “there is information about the presence of more than three thousand space employees in the Kurdistan region.”

He added that “there are more than 20 border crossings and outlets in the region, from which goods enter outside the controls and money goes into the pockets of the ruling parties,” warning “leaderships and leaders from tampering with the fate of the Iraqi people and the need to achieve justice and a fair distribution of wealth for all citizens in the south, center and north.”

He continued: “We have reached half-contracts in the Popular Mobilization Forces and contracts in the Ministry of Electricity, and we are following the file of lecturers and the file of prisoners and martyrs,” indicating that there are 600,000 wounded and 400,000 martyrs in Iraq from the defense, the interior, the popular crowd, the fight against terrorism, and others.

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