Iraqi News Tuesday Afternoon 10-11-22
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Parliamentary Committee: Iraq Has A Financial Abundance Of More Than 86 Billion Dollars
Political | 01:37 – 10/11/2022 Baghdad – Mawazine News The Parliamentary Investment and Development Committee considered that Iraq, “for the first time since the establishment of the Iraqi state,” has so far had an abundance of money that neighboring countries do not possess.
Committee member Hussein Al-Sabri said, “Iraq has a financial abundance of more than 86 billion dollars and does not need aid, and thus Iraq’s economic strength has become very large, as Iraq, for the first time since the establishment of the Iraqi state until now, has financial abundance that neighboring countries do not possess, They are all negative and have economic problems, as do European countries.”
And Al-Sabri said in his speech to the official newspaper “Al-Sabah”, which was followed by “Mawazine News”, that “Iraq lacks a strong government, if it existed, there would have been a boom in its economy,” expressing his hope that “a government with full powers will be formed and people who are interested in serving the citizen.” https://www.mawazin.net/Details.aspx?jimare=207934
Washington: We Support Conducting A Broad And Comprehensive Dialogue In Iraq
Posted On2022-10-11 By Sotaliraq Partnership commitment In the statement, which was published by the US Embassy in Baghdad, the Foreign Ministry spokesman also stressed his country’s commitment to partnering with Iraq to promote economic growth and ensure the lasting defeat of ISIS.
And the Iraqi Prime Minister, Mustafa Al-Kazemi, renewed his call yesterday for all political parties to dialogue to solve the crisis in the country.
In a statement published by his media office, today, Monday, he stressed the need to resort to the logic of sane, calm and constructive dialogue to resolve the crisis and push for comprehensive national solutions that support the pillars of stability.
The United Nations mission warned that Iraq “does not have much time, especially as the protracted crisis portends more instability, and recent events are proof of that.”
These calls come as the country has been living since last year with the impact of a raging political crisis between the Sadrist movement led by Muqtada al-Sadr and the “coordinating framework” (which includes the State of Law coalition led by Nuri al-Mali, the Fatah Alliance, and other pro-Iran factions), which has so far prevented the election of a president. new or forming a government.
Since the early parliamentary elections that took place on October 10, 2021, Iraq has witnessed a complete political paralysis, which has worsened further since July 2022, with the two sides of the most prominent dispute taking to the street and their sit-in in the center of Baghdad (Al-Sadr and Al-Titare).
The dispute reached its climax with the start of the Sadrist movement’s demand to dissolve the House of Representatives and hold early legislative elections in order to move the country on the path of reforms in light of its opponents’ rejection of this approach, and their insistence on forming a government with their candidate before any new elections.
While the dispute developed in late August into violent clashes between the two parties in central Baghdad, which led to the death of 30 people, and opened the doors to the possibility of a dangerous re-escalation. LINK
The Appearance Of Muhammad Salih To / NINA /: The Last OPEC + Decision .. A Correct Decision To Avoid The Oil Countries Being Drawn Into A Price War
Tuesday 11 October 2022 11:08 | Economic Number of readings: 218
Baghdad / NINA / – The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, considered the last OPEC + decision… a correct decision to avoid the oil countries being drawn into a price war.
He told the National Iraqi News Agency ( NINA ): The oil price war policy has become part of the ongoing war game in Ukraine, indicating that the West’s trends as a large energy consuming power are revolving around maneuvering to adopt a specific ceiling for oil prices that may not exceed $90 per barrel as well, which prompted the United States to To adopt the policy of opening oil reserves to compensate for the increasing demand for oil in order to reduce prices and not allow comfortable financial flows to be provided to Russia, which is the direct, hostile party in the current war.
He explained: The decision of OPEC + to delete two million barrels of daily production for a period of one year, starting from next November, is a sign that the oil countries will not be dragged into a price war parallel to the hot war in Ukraine as an aid wheel in the victory of one party without the other. Which can be called / oil neutrality /. https://ninanews.com/Website/News/Details?key=1006759
Al-Nusairi: The foreign currency sale window needs a deep understanding of monetary policy
Money and business Economy News _ Baghdad The adviser to the Association of Iraqi Private Banks, Samir Al-Nusairi, confirmed today, Tuesday, that the process of selling the foreign currency window needs a deep understanding by the objecting parties in light of the accusations leveled at the Central Bank without evidence, and the concern for the safety of monetary operations through the foreign currency sale window is The other is essential to the bank’s performance and to establish the principles and rules of legitimate dealings in a sound atmosphere of supervision and control.
Al-Nusairi explained, that accusing the Central Bank and banks of wasting foreign currency without evidence to prove the existence of suspicions of corruption, money laundering or currency smuggling, and the proposition that says that selling currency is a waste of public money, this description has nothing to do with economic science, and that a valid sale process Currency
The Central Bank started implementing it on 4/10/2004 in implementation of Article 28 B of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and this process continued to meet the needs of the Ministry of Finance of local currency for the purposes of the operating budget and for the purposes of meeting imports The private sector and maintaining the stability of the target exchange rate from the Central Bank.
He pointed out that the foreign currency sale window is considered one of the largest open market operations in controlling the levels of local liquidity and putting the cash surplus in its proper tracks, which is a good economic indicator and achieves one of the objectives of monetary policy.
He noted that the Central Bank of Iraq exercises multi-dimensional functions, as it is concerned with financial stability, management of the payments system, management of foreign reserves, licensing and control of banks and financial institutions, and the establishment of preventive controls, in addition to other tasks related to the issuance of cash and the dissemination of data, indicators and economic forecasts. The central bank is managing monetary policy that aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.
149 . views Added 10/11/2022 – 10:37 AM Update 10/11/2022 – 5:21 PM
https://economy-news.net/content.php?id=30158
The Center For Banking Studies At The Central Bank Signs A Memorandum Of Cooperation With Its Egyptian Counterpart
Banks Economy News – Baghdad The Center for Banking Studies at the Central Bank of Iraq signed a memorandum of cooperation with the Banking Training Institute at the Central Bank of Egypt.
The media office of the Central Bank stated in a statement that “the memorandum aims to enhance cooperation in the field of training and development of human resources and workers in the banking sector in the two countries, as well as the exchange of experiences and studies between the two sides, especially in modern fields.”
The statement added, “The signing of the memorandum of cooperation comes as one of the results of the visit made by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokheb, to the Republic of Egypt earlier this year. The Central Bank of Iraq and Director General of the Egyptian Banking Training Institute.
It is noteworthy that the Center for Banking Studies signed a number of agreements with local and international training centers, “as part of its endeavor to enhance the annual training courses it provides to workers in the Iraqi banking sector.” 158 .views 10/11/2022 – 11:15 AM Update 10/11/2022 – 5:13 PM https://economy-news.net/content.php?id=30160
Low Exchange Rates Of The Dollar Against The Dinar
Economie| 09:53 – 10/11/2022 Baghdad – Mawazine News , the dollar exchange rates decreased, today, Tuesday, in the local markets. Selling price: 147.950 dinars per $100
purchase price: 147.850 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=2079
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