Bondlady’s Corner Friday Afternoon

Iraqi News Highlights Friday Afternoon 2-3-23


Tlm724 Administrator Bondlady’s Corner


A Demonstration In Karbala To Demand A Reduction In The Price Of The Dollar


Friday 03 February 2023 16:36 | political Number of readings: 213   Karbala ( NINA ) – Hundreds demonstrated in the holy city of Karbala, calling for a reduction in the exchange rate of the US dollar against the Iraqi dinar.   The demonstration started from Al-Ahrar Square and penetrated the main streets, reaching the parliament office.   The demonstrators carried slogans denouncing the currency smuggling operations, which caused the rise in the price


Deputy: Forming A Specialized Committee To Control Exchange Rates And Restore Them To Their Previous State


Money  and business   Economy News – Baghdad   Deputy Chairman of the Parliamentary Services Committee, Baqir Al-Saadi, confirmed the formation of a specialized committee to control the exchange rates of the dollar and restore it to its previous state.


Al-Saadi said, “We are awaiting a drop in the dollar’s exchange rates in the coming days,” noting that “the reasons that aggravated the matter more were that some merchants stopped exchanging dollars.”


Al-Saadi indicated, in an interview with the “Euphrates News” agency, followed by “Al-Iqtisad News”, to “the formation of a specialized committee that includes the Ministry of Finance and the Central Bank to control exchange rates and restore them to their previous state.”


Al-Saadi expected, “the exchange rate will return during the current month, at the lowest estimates, and full support will be provided to citizens due to the market’s vulnerability to these prices.”


Federation Of Chambers Of Commerce: We Are Committed To The Official Exchange Rate, And There Is No Sale Outside The Electronic Platform


Money and business   Economy News – Baghdad  On Friday, the Federation of Chambers of Commerce renewed its commitment to the official exchange rate, stressing that there is no sale outside the electronic platform.


“The federation is committed to the exchange rate, and called on all merchants to go to the electronic platform,” the federation’s president, Abd al-Razzaq al-Zuhairi, told the official news agency. “Dealing with the platform is an inevitable and final issue, and there is no sale outside the platform.”


And he indicated that “dealing with the platform is easy and simple,” explaining that “if the merchant owns a company, it is possible to deal with the platform, but if he does not own a company, the Chamber of Commerce guarantees him purchases through the platform up to one hundred thousand dollars.”


He added, “The Union desires that dealings be clear, whether with merchants or importers, and that there be clear transparency in the work,” stressing that “the government has set the lowest tax and customs rate in Iraq’s history over the past years.”


He pointed out that “the customs on the small container is two million dinars and the tax is 25%. As for the large container, the customs on it are four million dinars and the tax is 25%.”


Al-Zuhairi stressed that “these measures will give Iraq strength and stability in front of the countries of the world that there are correct and clean funds, and therefore the largest number of companies will be received,” stressing that “the government’s measures aim to prevent smuggling of millions of dollars.”


He noted that “many merchants in Iraq are committed to the official exchange rate, which is (1470) dinars to one dollar.”


At 173 Thousand.. The Stability Of The Dollar Exchange Rate In Iraq


Economie| 10:04 – 03/02/2023  Baghdad – Mawazine News  The exchange rate of the dollar witnessed, on Friday, stability in the local markets in Iraq.  The selling price of a $100 banknote recorded 173,000 dinars, and the purchase price was 172,000.


The Start Of The Second Meeting Between The Iraqi Delegation And The US Federal Government Regarding The Dollar


Economie| 02:00 – 03/02/2023   Baghdad – Mawazine News  started, just before, the second meeting between the Iraqi delegation and the US Federal Bank regarding the dollar.


An informed source said, in an interview with Mawazine News, that “the meeting, which was held in Turkey, will complement yesterday’s meeting.”


A member of the Parliamentary Finance Committee, Mustafa Jabbar Sanad, revealed, at dawn today, Friday, the details of the meeting between the Iraqi delegation and the US Federal Bank, which was held in Turkey.


Sanad said in a post on his Telegram channel, “A meeting was held in Turkey between the Iraqi delegation and a delegation representing the US Federal Reserve to discuss the status of the dollar.”


He added, “The meeting ended and it was agreed on a number of things, and the meeting will be renewed tomorrow in Turkey as well, and then the expanded meeting in Washington on 2-8-2023.” Ended+


Sudanese Advisor: Iraq’s Economy Will Not Be Determined By Shop Brokers


political| 03:52 – 03/02/2023  Baghdad – Mawazine News  Hisham Al-Rikabi, media advisor to the Prime Minister, Muhammad Shia’ Al-Sudani, confirmed, on Friday, that Iraq’s economy will not be determined by shop brokers and street speculators.


Al-Rikabi said in a tweet, followed by Mawazine News, that “the government’s battle against speculators and hard currency dealers enjoys internal and external political support, and its resolution is close, and the process of controlling commercial transactions in accordance with global contexts continues.”


And he added, “Iraq’s economy will not be determined by shop brokers and speculators in the street, but only by the state.” Ended 99 / 29


The Judiciary Directs That Legal Measures Be Taken Against Anyone Who Commits Harm To The National Economy


political| 04:43 – 03/02/2023   Baghdad – Mawazine News, the Supreme Judicial Council directed today, Friday, to take legal measures against those who commit harm to the national economy.


The judicial media said in a statement, a copy of which was received by Mawazine News, that “the President of the Supreme Judicial Council instructed all investigative courts to take legal measures against anyone who commits an act that causes harm to the national economy, whether from foreign currency dealers or monopolists of goods, food commodities, and essential commodities that People need it every day.”


He added, “The President of the Council called on the Ministry of the Interior and the National Security Agency to instruct the relevant police directorates and national security detachments to coordinate with judges and members of the Public Prosecution Office to conduct inspection tours in wholesale shops and places selling foreign currency to arrest violators of the law in flagrante delicto.” Ended 29/M99


Iraq Ranks 15th In The Arab Economies Competitiveness Index


Economie| 11:40 – 03/02/2023   Baghdad – Mawazine News  The Arab Monetary Fund revealed that the UAE maintained the first place in the Arab economies competitiveness index, as a result of its acquisition of the first place in the investment environment and attractiveness index.


In the Arab Economies Competitiveness Report 2022, the Arab Monetary Fund said that Qatar ranked second in the general index of competitiveness of Arab economies, while Saudi Arabia, Kuwait, Oman and Bahrain ranked third, fourth, fifth and sixth, respectively.


1- UAE 2- Qatar 3- Saudi Arabia 4- Kuwait 5- Sultanate of Oman 6- Bahrain 7- Morocco 8- Jordan 9- Tunisia 10- Egypt 11- Algeria 12- Mauritania 13- Lebanon 14- Libya 15- Iraq 16- Yemen 17- Sudan.


According to the report, the UAE and Saudi Arabia occupied the first and second positions in the government finance sector index, and this is attributed to the UAE obtaining an advanced position in the index of financial freedom, and the second position in the surplus / deficit to GDP index, while Saudi Arabia benefited from its advanced position in the index of financial freedom. Public revenue index to GDP.


The UAE also ranked first at the level of Arab countries in the monetary and banking sector index, benefiting from its advanced position in the domestic liquidity index of GDP and in the indicators of the growth rate of foreign assets and the ratio of credit granted to the private sector to GDP, while Kuwait came in second place. As a result of the decline in the non-performing loans index out of the total loans and its obtaining an advanced position in the indicator of the ratio of credit granted to the private sector to the GDP. Ended 29 / H




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