Iraqi News Highlights Wednesday Afternoon 4-5-23
Tlm724 Administrator Bondlady’s Corner
The Central Bank Expects The Continued Depreciation Of The Exchange Rate
Posted On2023-04-05 By Sotaliraq The Central Bank of Iraq said, on Tuesday, that its measures contributed to reducing the exchange rates of the dollar, while it expected a further decline in its exchange rates.
Deputy Governor Ammar Hamad Khalaf said, in a statement to the official news agency, that “the recent decline of the dollar was not born of an hour, but rather is due to previous measures, especially the procedural packages launched by the Central Bank and the response of the market, merchants and banks to the directives and instructions of the Central Bank, and all of this helped to provide the dollar for the beneficiaries and the authorities.” beneficiary.”
Khalaf added, “The Central Bank sells more than 200 million dollars a day, all of which are for real and organized purposes by the merchant and by the bank, and all of this helps in lowering the exchange rate of the dollar.” And he expected, “a further decline in the future as long as there is a response by sectors and traders. LINK
The Budget And Economic Conditions Are On The Table Of Discussions Of The President Of The Republic And The Minister Of Finance
Political | 02:48 – 05/04/2023 Baghdad – Mawazine News, President of the Republic, Abdul Latif Rashid, received today, Wednesday, Minister of Finance, Taif Sami.
During the meeting, according to a statement by the Presidency of the Republic, which Mawazine News received, they discussed the financial and economic conditions and approved the general budget in a manner that meets the aspirations of citizens.
Rashid stressed the importance of making appropriate reforms, encouraging investment opportunities and supporting strategic projects, as well as developing and diversifying the sources of the national economy by activating the role of other sectors and contributing to enhancing revenues.
The President of the Republic referred to “the importance of improving the standard of living of the Iraqi individual, following modern methods of financial management, and benefiting from the experiences of developed countries in this field.” https://www.mawazin.net/Details.aspx?jimare=223786
Iraqi-Saudi Talks To Promote Sustainable Development In The Fields Of Investment And Business
Economy| 01:14 – 05/04/2023 Baghdad – Mawazine News, Minister of Finance, Taif Sami, received, on Wednesday, the delegation of the Saudi Ministry of Investment, headed by the representative of the ministry, Mishaal bin Khaled Al-Hathal.
A statement by the Ministry of Finance stated, “The two sides reviewed the most important economic issues and files of common interest, ways to consolidate bilateral cooperation between Iraq and the Kingdom, and focus on building broader partnerships to promote sustainable development in the field of investment and business.”
The meeting also dealt with “mechanisms to encourage Saudi companies to work in Iraq and overcome obstacles that they may face, and direct communication between the concerned ministries of the two countries with the aim of attracting more investments and strengthening relations between businessmen from both sides.” https://www.mawazin.net/Details.aspx?jimare=223775
Central Bank Sales Exceed $ 271 Million In Today’s Auction
Economy| 12:04 – 05/04/2023 Baghdad – Mawazine News The Central Bank of Iraq’s sales of foreign currency increased in an auction today, Wednesday, to more than $ 271 million. https://www.mawazin.net/Details.aspx?jimare=223767
Oil Rises Due To The Decline In US Crude Stocks
Economy| 08:51 – 05/04/2023 Follow-up – Mawazine News Oil prices rose in early Asian trading on Wednesday, due to a decline in US crude stocks and the latest cut in production targets for the OPEC + alliance. Brent crude futures rose 47 cents to $85.41 a barrel at 0535 GMT.
US West Texas Intermediate crude rose 42 cents to $81.13 a barrel, according to Reuters figures.
Prices received support after data from the American Petroleum Institute, on Tuesday, showed a decrease in US crude stocks by about 4.3 million barrels in the week ending March 31.
Gasoline stocks fell by about 4 million barrels, while distillate stocks fell by about 3.7 million barrels, according to the American Petroleum Institute. https://www.mawazin.net/Details.aspx?jimare=223748
The President Of The Republic To The Minister Of Finance: The Importance Of Encouraging Investment And Improving The Standard Of Living
Money and business Economy News – Baghdad Today, Wednesday, the President of the Republic, Abdel Latif Rashid, received the Minister of Finance, Taif Sami.
During the meeting, according to a statement by the Presidency of the Republic, which Mawazine News received, they discussed the financial and economic conditions and approved the general budget in a manner that meets the aspirations of citizens.
Rashid stressed the importance of making appropriate reforms, encouraging investment opportunities and supporting strategic projects, as well as developing and diversifying the sources of the national economy by activating the role of other sectors and contributing to enhancing revenues.
The President of the Republic referred to “the importance of improving the standard of living of the Iraqi individual, following modern methods of financial management, and benefiting from the experiences of developed countries in this field.” https://economy-news.net/content.php?id=33372
The Stability Of The Dollar Exchange Rates In The Local Markets
Wednesday 05, April 2023 11:00 | Economical Number of readings: 256 Baghdad / NINA / – The exchange rates of the dollar against the dinar recorded, today, Wednesday, stability in the stock exchange and exchange shops in the capital, Baghdad. The Al-Kifah and Al-Harithiya Stock Exchanges recorded an exchange rate of 150,300 dinars per 100 dollars.”
He added, “The exchange rates of the dollar rose in exchange shops and local markets in Baghdad, where the selling price reached 151,500, while the purchase price reached 150,000 per 100 dollars.”/
Al-Alaq Discusses With A Delegation From The World Bank The Report Of The Financial Reform Program In Iraq
The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, discussed with the representative of the World Bank in charge of preparing the financial sector assessment project in Iraq, Mahdi Hassan, the report of the financial reform program in Iraq.
The media office of the central bank said in a statement: “The governor of the central bank received the representative of the World Bank in charge of preparing a project to assess the financial sector in Iraq, Mahdi Hassan, and his accompanying delegation.”
He added, “During the meeting, a summary of the report of the financial reform program in Iraq was presented, strengthening bilateral cooperation, and discussing the reform of the Iraqi banking sector, especially the government, which represents 80% of the banking sector as a whole, in addition to adopting institutional governance and organizing the structure of banking institutions.”
He continued, “The two parties discussed opportunities to develop information technology in the government banking sector and the use of comprehensive banking systems in Al-Rasheed and Al-Rafidian Banks.” LINK
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