Iraqi News Late Wednesday Evening 9-7-22
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Al-Kazemi Visits The United States
Posted On2022-09-07 By Sotaliraq Iraqi Prime Minister Mustafa Al-Kadhimi will visit the United States on September 26, to participate in the meetings of the United Nations General Assembly, rejecting a proposal presented to him during the second meeting of political leaders, not to make the visit, due to fear of renewed demonstrations in Baghdad.
According to information, Iraqi Prime Minister Mustafa Al-Kazemi informed the presidencies and political leaders during the second meeting of the National Dialogue, which was held on September 5, 2022, of his intention to visit the United States on September 26.
A participant in the meeting, he said, “A proposal was made to Mustafa Al-Kazemi, not to visit and send someone on his behalf, because of the possibility that the Tishrinists and the Sadrist movement would hold demonstrations, but Al-Kazemi told the gathering: It is important that I be present there.”
The Iraqi Prime Minister had cut short his visit to Egypt on (23 August 2022), to participate in a summit with the leaders of Egypt, Jordan, Bahrain and the UAE, after the Sadrist movement’s demonstrations in front of the Supreme Judicial Council, which were followed by dangerous developments that resulted in clashes that caused more than 30 dead and 500 wounded.
Al-Kazemi’s visit to the United States on September 26, if it takes place, will be his third to America, since he became prime minister in 2020. His last visit was on (July 26, 2022), during which he met with US President Joe Biden.
It is noteworthy that the leaders of the Iraqi national political forces decided, during the second meeting of the National Dialogue, to form a technical team from the various political forces to mature common visions and ideas on the roadmap for a national solution, renewing their call for the Sadrist movement to participate in the sessions and the need to achieve reform in the structure of the Iraqi state.
The conferees stressed the need to purify the atmosphere between the national forces, including preventing all forms of escalation, rejecting speeches that are issued or leaked and that cause damage to historical brotherly relations, and address them through available legal means, in a manner that preserves the dignity of the Iraqi people, their feelings, and their entitlements, and respect for religious and political considerations. , and social. LINK
An Economist Assures / Nina / The Importance Of Submitting The Management Of Customs Funds Collected To A Planning That Contributes To The Development Of Collection Operations
Wednesday 07, September 2022 10:39 | EconomicNumber of readings: 305
Baghdad / NINA / – The economic expert, Malath Al-Amin, stressed the importance of submitting the administration of the collected customs funds to an ambitious planning that contributes to the development of collection and monitoring of imported goods and subjecting them to the standardization and quality control system before imposing tax on them.
Al-Amin said in a statement to the National Iraqi News Agency / NINA / that customs in most countries represent an economic and health guard, as they prevent the entry of harmful goods such as drugs and expired food products, and contribute to reviving the economy by imposing taxes on imported goods that are similar to them in the country.
He added: Customs in all countries of the world plays an important role in the development of the economy, and its management is linked to the state’s economic policy, as its revenues constitute an important space in the budgets of most countries, as non-producing industrially and agriculturally countries depend on those revenues to cover their operational financial budgets as the salaries of their employees and to ensure the provision of services to citizens.
And he indicated that “the customs rates imposed in non-industrial countries may rise so that the imported goods will be a burden on most citizens who are unable to buy them or benefit from them, which requires these countries to take into account the citizen’s need for these goods with the rate of customs tax imposed and the balance between them.”
He pointed out that “the customs revenues in Iraq reached during the past year 2021 (1001413859817), one trillion and one billion four hundred and thirteen million eight hundred and fifty-nine thousand eight hundred and seventeen dinars, while its revenues in 2020 were (863161392512) eight hundred and sixty-three billion one hundred and sixty-one million three hundred and ninety-two.
One thousand five hundred and twelve dinars, due to raising the price of the dollar officially to 145 thousand dinars, after its price in the market was about 120 thousand dinars, which contributed to revitalizing the local market and increasing customs revenues, while at the same time drawing the attention of the industrial sector to the amount of profits that it will make as a result of manufacturing goods imported.”
The Customs Authority had stated in a statement that it had achieved revenues of more than (99) billion dinars during the month of June 2022, in a precedent that was not recorded in the previous years for the same month.. which reflects Iraq’s dependence on importing its needs of manufactured goods and agricultural crops, as well as indicating a defect In the national production sector and the citizen’s dependence on imported goods, which constitutes a normalization of the citizen’s taste in accepting the importer and giving him preference over the national product, even if the latter is better than the importer.
The Secretary stressed the need for the administration of the collected customs funds to be subject to an ambitious planning that contributes to the development of collection and control of imported goods and subjecting them to the standardization and quality control apparatus before imposing tax on them and allowing them to enter the local market.
To ensure the speedy issuance of the tax decision and its amount and to allow it to enter the borders or not to allow it to violate the controls in force, but we hear from time to time the detention of the customs yard for containers loaded with perishable materials for different periods, which exposes them to damage and the loss of capital owners who will refrain from dealing with the country what exposes the market It is necessary for the administration of the customs center to expedite taking administrative measures and inform the owner of the shipment of approval to enter or prevent it so that he does not incur losses or the shipment is damaged.”/ LINK
The Central Bank Issues A Statement On Its Annual Financial Stability Report For 2021
Banks Economy News – Baghdad On Wednesday, the Central Bank of Iraq issued a statement on its annual private financial stability report for the year 2021.
A statement by the Central Bank stated, “The annual financial stability report for the year 2021 included a set of financial and monetary indicators that reflect the performance of the Iraqi financial and banking sector, and diagnose challenges and opportunities for this important sector in the economy.”
He pointed out that “an increase in the growth of bank deposits amounting to (96) trillion dinars for the year 2021, an increase of (13.1%) over the year 2020, while the bank credit in the public and private sectors increased to (80.62) trillion dinars for the year 2021 with an increase of (7.1%). ) for the year 2020.
He explained, “The indicators of financial inclusion improved through the adoption of the (financial inclusion for a new economic beginning) project,” noting that “the report revealed an increase in the aggregate index of financial inclusion from (20.85%) in 2017 to (33.5%) in 2021, while The percentage of private sector credit in the GDP increased to (13.4%) in 2021, and the aggregate index of financial stability in Iraq rose to (0.656) in the same year, as a result of adopting policies to achieve financial stability through the application of Basel requirements and International Financial Reporting Standard No. (9) as well as other requirements of the banking sector. Views 21 Added 09/07/2022 – 3:58 PM Update 09/07/2022 – 6:32 PM LINK
The Central Bank Of Iraq Issues A Statement On Its Annual Financial Stability Report For 2021
Wednesday 07, September 2022 14:42 | Economic Number of readings: 243 Baghdad / NINA / – The Central Bank of Iraq issued a brief statement on its annual private financial stability report for 2021, which included a set of financial and monetary indicators that reflect the performance of the Iraqi financial and banking sector, and diagnose the challenges and opportunities facing this important sector in the economy.
The statement received by / NINA / indicated an increase in the growth of bank deposits amounting to (96) trillion dinars for the year 2021, an increase of (13.1%) over the year 2020, while bank credit in the public and private sectors increased to (80.62) trillion dinars for the year 2021. With an increase of (7.1%) over the year 2020.
He added that the indicators of financial inclusion have improved through the adoption of the (Financial Inclusion for a New Economic Beginning) project.
The report revealed an increase in the aggregate index of financial inclusion from (20.85%) in 2017 to (33.5%) in 2021, while the percentage of private sector credit in the GDP increased to (13.4%) in 2021, and the aggregate index of financial stability in Iraq increased to (0.656) in the same year;
As a result of adopting policies to achieve financial stability through the application of Basel requirements and International Financial Reporting Standard No. (9), as well as other requirements of the banking sector./ End LINK
The Iranian Central Bank Offers The Iraqi Dinar In Local Banks
Economie Wednesday, 7 September 2022 3:08 PM Baghdad / National News Center
Today, Wednesday, the Governor of the Central Bank of Iran, Ali Saleh Abadi, announced the launch of the Iraqi dinar currency in Iranian local banks.
The governor said in a statement on the sidelines of the Iranian cabinet meeting that took place today, that “a quantity of the Iraqi dinar entered the country yesterday and will be distributed starting tomorrow (Thursday).”
He added that “those who wish to perform the fortieth visit of Imam Hussein should go to the local banks to provide the dinar currency, in addition to reviewing the exchange offices.”
Saleh Abadi continued by saying that “25 local banks have been identified to offer the dinar currency, in order to avoid congestion in the exchange offices in the market.” LINK
Find Out The Total Value Of Iraq’s Bonds In Global Markets
Economie| 09:51 – 06/09/2022 Baghdad – Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Tuesday, the total value of Iraq’s international bonds in global markets and the revenues generated.
Saleh said, “The international bonds issued by Iraq are divided into two parts. The first relates to the bond called (Iraq 2028), which represents the dues of the foreign private sector for its debts owed by Iraq and called debts before 1990, which were deducted by 80% under the Nadi agreement.
Paris for the year 2004, and the residual receivables, i.e. 20%, were replaced by European bonds that are amortized once in 2028 and are currently traded in buying and selling in the European secondary capital markets, with a total value of 2.7 billion dollars and carrying an annual interest of 5.8%.
He added, “The annual interest to the holders is paid according to regular semi-annual schedules, and the management of these bonds is handled by the major international banks in the London market of the undertakers.”
He pointed out that “the second section was issued in the year 2016 and they are two bonds for Iraq the first with a value of (one billion dollars), and with the guarantee of the United States government and it is called (Tigris), and with an interest paid annually of about 2.4%, and the principal of the bond (Tigris) is paid once in the next year. “.
And Saleh continued, “The proceeds of the aforementioned bond go to the benefit of financing the deficit in the general budget during the war on ISIS terrorist gangs,” noting that “the second bond was issued with a value of (one billion dollars) in the year 2016 and was called (the Euphrates) and with the guarantee of the government of the Republic of Iraq and with an interest that increased over 6.7% annually.
He pointed out that “the amount went to directly finance the deficit in the general budget in the conditions of the war on terrorism, and it will be paid once in the next year as well,” noting that “the lowest category of bonds is worth $200,000, and the bond categories increase in multiples, and the interest is paid semi-annually.” To bond holders through major international banks (obligors) until the value of the bond is amortized once in the next year.
Saleh stressed that “the total value of Iraq’s international bonds currently circulating in European markets is about $4.7 billion, and these bonds are subject to Iraq’s current credit rating of B, which is part of the country’s external public debt to be paid.” LINK
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