Iraqi News Highlights Sunday Afternoon 3-26-23
Tlm724 Administrator Bondlady’s Corner
The World Bank Confirms Its Full Commitment To Provide Support And Assistance To Automate Public Financial Management In Iraq
Economy| 05:22 – 03/26/2023 Baghdad – Mawazine News Today, Sunday, the World Bank affirmed its full commitment to providing support and assistance to automate public financial management in Iraq.The Media Department of the House of Representatives said in a statement, a copy of which Mawazine News received, that “the Finance Committee, headed by Representative Atwan Al-Atwani and in the presence of a number of its members, hosted a World Bank delegation to follow up on loans for projects funded by the bank within the Federal General Budget Law for the year 2023, and the mechanism Automation of the country’s financial system.
And she added, “The committee welcomed at the outset of hosting the World Bank delegation in the Parliament building, appreciating the role of the World Bank in supporting the Iraqi government to finance the expenditure sections with the necessary loans to implement projects according to spending units, and joint cooperation between the two sides.”
And she continued, “The Finance Committee discussed finding appropriate solutions to implement the projects that were signed with the World Bank and how to finance spending units, in addition to reviewing to expedite the implementation of projects throughout Iraq, as well as the need to maximize revenues by switching from the paper system to the electronic system.” .
And she indicated that “the committee listened to a delegation from the World Bank regarding its visit to the Ministry of Finance related to financing projects for spending units and disbursing loans in this regard, as well as briefing it on the vision of the Ministry of Finance on completing the points agreed upon in accordance with the new vision of the ministry, as the delegation indicated that there is the appropriate ground to achieve implementation steps.” projects, stressing his full commitment to provide support and assistance to automate public financial management in Iraq and achieve progress.
And she added, “The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system project (ifms), presenting a complete budget and preparing final accounts reports for the draft budget.”
At the end of the meeting, the committee affirmed “its aspiration to shift from the paper system to the electronic system to make progress in modern financial transactions and to prepare an integrated project in this regard.” https://www.mawazin.net/Details.aspx?jimare=222924
A Slight Rise In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange
Economy Sunday, March 26, 2023 4:21 PM Baghdad / The National News Center The exchange rates of the dollar rose against the Iraqi dinar, this evening, Sunday, with the closure of the main stock exchange in Baghdad.
The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed this evening at an exchange rate of 154,450 dinars against 100 dollars, while the prices this morning were 154,200 dinars.”
He added, “The buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 155,500 dinars, while the purchase prices reached 153,500 dinars for every 100 dollars.” https://nnciraq.com/196017/
Iraq’s Oil Exports To America Have Declined By More Than Half
Sunday, March 26, 2023 8:52 am Follow-up / National News Center The US Energy Information Administration announced today, Sunday, that Iraq’s oil exports to America decreased by more than half during the past week.
The administration said in a report seen by the National News Center: “The average US imports of crude oil during the past week from seven countries amounted to 5.423 million barrels per day, slightly down by 4 thousand barrels per day from the previous week, which amounted to 5.423 million barrels per day.”
She added, “Iraq’s oil exports to America amounted to an average of 144 thousand barrels per day last week, down by 202 thousand barrels as a daily average from the previous week, in which oil exports to America reached an average of 346 thousand barrels per day.”
She pointed out that “most of America’s oil revenues during the past week came from Canada at an average of 3.240 million barrels per day, followed by Mexico at an average of 1.118 million barrels per day, and oil revenues from Saudi Arabia amounted to an average of 483 thousand barrels per day, and then Colombia at an average of 244 thousand barrels per day.”
According to the administration, “the amount of US imports of crude oil from Nigeria amounted to an average of 129 thousand barrels per day, and from Brazil an average of 69 thousand barrels per day, while it did not import any amount from Russia, Libya or Ecuador.” https://nnciraq.com/195819/
Parliament Is Discussing With The World Bank The Financing Of Projects And The Shift Towards The Electronic System In Financial Transactions
Money and business Economy News / Baghdad On Sunday, the Finance Committee in the House of Representatives hosted a delegation from the World Bank, to follow up on loans for projects financed by the bank within the Federal Budget Law for the year 2023, and the mechanism for automating the financial system in the country.
The Finance Committee discussed ways to find appropriate solutions to implement the projects that were signed with the World Bank and how to finance the spending units, in addition to reviewing the implementation of projects in Iraq and accelerating their pace, as well as the need to maximize revenues by switching from the paper system to the electronic system. According to the information of the House of Representatives.
The committee listened to a delegation from the World Bank regarding its visit to the Ministry of Finance related to financing projects for spending units and disbursing loans in connection with them, as well as briefing them on the vision of the Ministry of Finance on completing the points agreed upon in accordance with the new vision of the ministry, as the delegation indicated that there is the appropriate ground to achieve the steps to implement projects, stressing Full commitment to provide support and assistance to automate public financial management in Iraq and achieve progress.
The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system project (ifms), presenting a complete budget and preparing final accounts reports for the draft budget.
At the end of the meeting, the Parliamentary Finance Committee confirmed its aspiration for “the shift from the paper system to the electronic system to make progress in modern financial transactions and to prepare an integrated project in this regard.” https://economy-news.net/content.php?id=33133
Oil Reveals Iraq’s Revenues Within A Month
Economy| 03:30 – 03/26/2023 Baghdad – Mawazine News The Ministry of Oil announced today, Sunday, that last month’s revenues amounted to more than $7 billion.
The ministry said in a statement, a copy of which Mawazine News received, that “the final statistics of the total oil exports for the month of February, issued by the Iraqi Oil Marketing Company (SOMO), amounted to (92) million (255) thousand and (610) barrels, With revenues amounting to (7) billion and (62) million and (704) thousand dollars.
And she added, “The total quantities exported of crude oil for the month of February from the oil fields in central and southern Iraq amounted to (89) million (140) thousand and (448) barrels, while the quantities exported from Kirkuk oil through the port of Ceyhan were (2) million and (2) million.” (834) thousand and (393) barrels,” explaining that “the average price of one barrel amounted to (76,556) dollars.”
It stated that “the exported quantities have been loaded by (35) international companies of several nationalities, from the ports of Basra, Khor Al-Zubayr, mono-buoys on the Gulf and the Turkish port of Ceyhan.”
It is noteworthy that the Ministry of Oil, through its belief in informing the people of export operations and the revenues generated from them, took this monthly measure. Ended 29 / M99
https://www.mawazin.net/Details.aspx?jimare=222913
Trade Signs A Joint Cooperation Agreement With The World Food Program To Automate The Ration Card System
Economy| 03:40 – 03/26/2023 Baghdad – Mawazine News Today, Sunday, the Ministry of Commerce signed a joint cooperation agreement with the World Food Program to automate the ration card system.
The ministry said in a statement, a copy of which was received by Mawazine News, that “Minister of Commerce Atheer Daoud Al-Ghurairi signed, today, Sunday, a joint cooperation agreement for the electronic ration card system project with the Director of the World Food Program in Iraq of the United Nations, Ali Reda Qureshi.”
The statement continued, “The joint cooperation agreement signed between the Ministry and the World Food Program provided for access to a comprehensive, renewable and digitally integrated distribution system, the aim of which is to automate all procedures and reach the real numbers of beneficiaries of the ration card system to achieve food security by targeting the eligible groups.” “.
Al-Ghurairy confirmed, according to the statement, that “the partnership agreement achieved success, as the Ministry of Commerce worked with the World Food Program to implement the digital automation of the ration card system in the holy city of Najaf and the factory supply center in Sadr City as a first stage according to a timeline, while working on a plan to start applying it in the rest of the country.”
The governorates, in implementation of the government program, because this strategic project represents the importance of the country’s economy, with the aim of reaching the real numbers of beneficiaries.
He pointed out, “The joint cooperation with the Food Program contributed to providing logistical and technical support in the field of building the capacities of the Ministry of Commerce’s employees, providing equipment and rehabilitating the infrastructure for the supply branches to start automating the ration card in Iraq.”
And he indicated, “The two sides agreed during the signing of the partnership agreement that it will be a testament to the will and determination of both parties in their endeavor aimed at providing the best in correcting the project towards the deserving groups in Iraq,” pointing out that “the signing of the agreement was attended by the Undersecretary for Administrative Affairs, Sattar Al-Jabri, and the Director General of the Planning and Follow-up Department, Ibtihal.” Hashem Sabet, Director General of the Legal Department, Farah Hikmat, and the technical team from both sides. Ended 29 / m99
https://www.mawazin.net/Details.aspx?jimare=222916
The Minister Of Oil Is Discussing With The Region’s Delegation The Decision Of The International Arbitration Tribunal
Economy| 03:48 – 03/26/2023 Baghdad – Mawazine News Oil Minister Hayan Abdul-Ghani chaired today, Sunday, a meeting with the delegation of the Kurdistan region, after the decision of the International Tribunal.
The Ministry of Oil said in a statement, which Mawazine News received, a copy of, that “Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani held a meeting with the region’s delegation, which included the Minister of Natural Resources, Agency Kamal Muhammad, the head of the regional cabinet office, Omid Sabah, and the head of the government representative. The region in Baghdad, Fares Issa.
He added, “The new mechanisms and data for the region’s exports were discussed after the decision issued by the Arbitral Tribunal of the International Chamber of Commerce in Paris last Thursday, March 23, 2023 in the arbitration case filed by Iraq against Turkey for its violation of the provisions of the Iraqi-Turkish pipeline agreement signed in 1973, which It states (the Turkish government must comply with the instructions of the Iraqi side regarding the movement of crude oil exported from Iraq to all storage and disposal centers and the final station).
The meeting was attended by the Undersecretary for Extraction Affairs, the Undersecretary for Distribution Affairs, the Director General of the Oil Marketing Company, the Director General of the Economic and Legal Department, the Director of the Government Information and Communication Office, and a number of officials in the relevant departments. Ended 29 / M99
https://www.mawazin.net/Details.aspx?jimare=222917
Guidance And Warning
March 26, 2023 The Central Bank of Iraq would like to inform the electronic payment companies /those who obtained the need to direct and warn all their agents /ports for cash withdrawal and directly not to use (POC) devices outside Iraq, and to take the necessary measures by them to obtain a written pledge within a maximum period of 20/5/1, and otherwise it will bear the company The violator’s agent /the violator is all legal consequences, and their companies must follow up, investigate and set the crisis policies in a manner that ensures that these devices are not operated outside Iraq. https://cbi.iq/news/view/2292
Pull Leave And Stop Activity
March 26, 2023 The Board of Directors of the Central Bank of Iraq decides to withdraw one bank leave and three exchange companies, and to stop the activity of a number of others due to violations.
https://cbi.iq/news/view/2291
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
