Iraqi News Highlights Wednesday Evening 11-2-22
Tlm724 Administrator Bondlady’s Corner
Al-Sudani identifies the party responsible for changing the dollar exchange rate-urgent
2,375 politics 2022/11/01 19:00 Baghdad today-Baghdad Sudanese Prime Minister Mohammed Shiaa on Tuesday directed all ministers to prepare the government program and submit it within a week, indicating that changing the dollar exchange rate is the prerogative of the central bank.
Al-Sudani stressed during the Cabinet session in a statement received (Baghdad today) “the government is moving forward to implement its government program through high coordination between state institutions, and urged”, demanding”, all ministers to develop the work system within their ministries and build the capabilities of their employees in order to achieve the ministry’s goals and development policies.
Al-Sudani, according to the statement, “directed all ministers to prepare the government program within a maximum period of one week, in accordance with the ministerial curriculum that focuses on the issues of unemployment, poverty, services, supporting the economy and combating corruption, and
stressed that the assessment of ministers will be based on their efforts and performance in the fight against corruption.
He also called for “speeding up the establishment of a unified Treasury Account to control funds in the state and prevent their leakage and waste,
as well as for ministers to review all contracts concluded under previous governments and find out their compliance with controls and instructions”.
An Economist Shows How Long It Is Necessary To Return The Exchange Rate.. These Are His Influences
October 31, 20:15 Information/ private.. The Economist Jalil al-Lami, on Monday, the necessary period to return the dollar exchange rate back to the previous value,
explaining at the same time the impact of labor investment companies on the Iraqi economy.
“It is not possible to return the dollar exchange rate to what it was before, especially at the moment,” al-Lami said, noting that
“according to economic laws and customs, we need at least five years between each exchange rate change and another”.
He added that “the duration of the change in dollar rates must be less than five years,
otherwise Iraq will lose its credit standing among international investment and development companies,” pointing out that
“these companies cannot keep up or keep pace with the changes taking place rapidly in Iraq because the capital is cowardly and needs security and safety.
The Economist explained that “rapid changes in the dollar prices will directly affect Iraq’s belonging status abroad”.
Earlier, the Ministry of Finance announced the actual start of the preparation of the budget law for 2023, indicating that
“the adjustment of the dollar exchange rate within the policies of the government and the Council of ministers is the one who makes the decision, but the budget has not yet been put forward”.
Finance Minister Taif Sami said earlier that “one of the most important priorities of the new government and the ministry is to submit the draft federal budget for the year ٢٠٢٣ and approve it.
This Is The Controller.. Economist: Changing The Dollar Exchange Rate Is Quite Possible
Today 15:41 Information / Baghdad.. Economist Nabil al-Marsoumi said on Tuesday that the possibility of changing the dollar exchange rate is possible, in light of the political control of the economic wheel in Iraq.
“Reducing the dollar exchange rate against the dinar is very possible for political reasons, to gain the satisfaction of some people or to fulfill previous promises,”Al-Marsoumi said in a Facebook post that I have seen /the information/.
He added that the decision to reduce may be taken “even if the decision has significant economic repercussions or costs”.
He pointed out that “it is difficult to predict the new price of the dollar even if the Ministry of Finance and the central bank deny the possibility of adjusting the exchange rate because politics in Iraq is driving the economy”. LINK
After Oscillation … Assurances That There Is No Step To Change The Dollar Exchange Rate Against The Dinar
Today 08:50 Information / Baghdad…The dollar exchange rates against the dinar continue to fluctuate in the local market value, despite the absence of any official decision to change the value of the Iraqi dinar,
at a time when political and specialized parties confirmed that there were no decisions or directions to change the exchange rate despite the formation of the new government,
amid speculation from some parties to make the reduction by the Sudanese government, although all assurances point to finding economic remedies and not changing the exchange rate.
“The central bank had a clear statement and stressed that it is not possible to change the dollar exchange rate, and
this rate will remain in force at least during the next year, and
anything that is put forward about the reduction is only statements,”said Jamal Koger, a member of the Parliamentary Finance Committee.
On the other hand, Rasul Radi, a member of the state of Law Coalition, told Al-Malouma that
“Prime Minister-designate Mohammed Shiaa al-Sudani presented his government program and did not include reducing the dollar exchange rate against the dinar,
but it included economic aspects related to unemployment, providing job opportunities, investment, reconstruction, completing stalled projects and investment agreements with abroad.
On the other hand, economist Hashim al-habbawi explained to /information/, that
“the decline in the dollar exchange rate against the Iraqi dinar on the local exchange is an exceptional case and the exchange rate will return as it was days ago,” indicating that
“the central exchange rate is the policy of the central bank and it is not easy to manipulate the rate because the Iraqi economy is currently built on the exchange rate of 1460 dinars per dollar, and if this is done, the decline will be gradual.
Controls Regulating The Work Of Exchange Companies And Brokering The Sale And Purchase Of Foreign Currencies
November 01, 2022 The Central Bank of Iraq confirms that it does not deal with kcard outlets with internal and external money transfers,or deal with all types of external transfers, except for transfers via Western Union and moneykram systems, which are available for categories (A, B) only. LINK
World Bank: The Policy Of Changing The Dollar Exchange Rate Is The Prerogative Of The Iraqi Government
The World Bank confirmed on Monday that the policy of changing the dollar exchange rate is the prerogative of the Iraqi government.
The World Bank said in a statement followed by (first news), that “the policy of changing the dollar exchange rate is the prerogative of the Iraqi government”.
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