Iraqi News Highlights Thursday Evening 2-2-23
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance Reveals New Measures To Control Dollar Exchange Rates
Thursday, February 2, 2023 11:18 am Baghdad / National News Center Today, Thursday, the Parliamentary Finance Committee revealed new procedures for the Central Bank of Iraq to control exchange rate fluctuations, while it put forward a set of recommendations to control them.
A member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a press statement: “The central bank must meet the requirements of the US Federal Bank to prevent or reduce pressure on the bills sent to it, to reduce the scarcity of hard currency in the country.”
And he stressed, “the need to find real solutions to the mechanism for granting banking licenses, and to give confidence to merchants that they deal directly with the Central Bank without mediation, in order to control the economic reality and the movement of the dollar within the country.”
Al-Karawi called on the government to “work to resolve the issue of fluctuating exchange rates in the markets, and to remove the Federal Bank from controlling the Iraqi economy,” explaining that “previous Iraqi governments did not develop a government strategy and program to manage the exchange rate file and the currency sale window.”
And he pointed out, “The Finance Committee met with the Governor of the Central Bank of Iraq, and the proposals that will be put forward to reduce economic pressure on the citizen were listened to,” noting that “the bank will issue, during the next two days, new instructions with the aim of finding quick solutions for the citizen by increasing the number of outlets, And facilitating procedures for granting banking licenses, opening direct agencies for merchants who import materials from abroad, and controlling border crossings to know the true volume of the country’s imports.
He continued, “These measures must be taken quickly at the internal level, while the external level will become clear after the visit of the Iraqi delegation to negotiate with the American side on the 10th of this February.” https://nnciraq.com/183960/
Deputy: The Central Bank Will Issue Within Two Days New Instructions To Control Exchange Rate Fluctuations
Economie| 11:30 – 02/02/2023 Baghdad – Mawazine News The Parliamentary Finance Committee revealed, on Thursday, new procedures for the Central Bank of Iraq to control exchange rate fluctuations, while it put forward a set of recommendations to control them.
A member of the Parliamentary Finance Committee, Mustafa Al-Karawi, told the official news agency, “The central bank must meet the requirements of the US Federal Bank to prevent or reduce pressure on the bills sent to it, to limit the scarcity of hard currency in the country.”
And he stressed, “the need to find real solutions to the mechanism for granting banking licenses, and to give confidence to merchants that they deal directly with the Central Bank without mediation, in order to control the economic reality and the movement of the dollar within the country.”
Al-Karawi called on the government to “work to resolve the file of fluctuating exchange rates in the markets, and to remove the Federal Bank from controlling the Iraqi economy,” explaining that “the previous Iraqi governments did not develop a strategy and a government program to manage the file of the exchange rate and the window for selling the currency.”
He added, “The Finance Committee met with the Governor of the Central Bank of Iraq, and proposals that will be put forward to reduce economic pressure on the citizen were listened to,” pointing out that “the bank will issue, during the next two days, new instructions with the aim of finding quick solutions for the citizen by increasing the number of outlets and facilitating Procedures for granting banking licenses, opening direct agencies for merchants who import materials from abroad, and controlling border crossings to find out the true volume of the country’s imports.
And he continued, “These measures must be taken quickly at the internal level, while the external level will become clear after the visit of the Iraqi delegation to negotiate with the American side on the 10th of February.” Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=218209
Economie| 12:33 – 02/02/2023 Baghdad – Mawazine News The exchange rate of the dollar rose again in the Iraqi markets. The selling price of 100 dollars jumped to 174,250 dinars, while the purchase price was 173,250 dinars. https://www.mawazin.net/Details.aspx?jimare=218215
Foreign Ministry: The Iraqi Delegation Will Discuss In Washington The Rise Of The Dollar And Financial And Banking Files
Money and business Economy News – Baghdad The Ministry of Foreign Affairs confirmed, on Thursday, that the Iraqi government delegation, which will visit Washington soon, will discuss financial and banking files, including the high exchange rate of the dollar.
“The delegation will be headed by Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein, and it will hold its negotiations on the eighth and ninth of this month in Washington,” ministry spokesman Ahmed al-Sahaf told the official news agency.
Al-Sahhaf added, “The delegation will include members of the financial and banking sectors and will discuss with the American side a number of issues of common interest based on the strategic framework agreement between the two sides and in view of the multidimensional interests between Baghdad and Washington.”
He continued, “It is hoped that this visit will discuss all Iraqi interests within the strategic horizon with the United States of America and given the nature of the government program and given the internal Iraqi national priorities,” noting that “there are basic issues to be discussed, foremost of which are issues related to financial and banking aspects.” And the high exchange rate of the dollar in the Iraqi reality and the possibility of cooperation and coordination with the American side in this matter.
And Al-Sahhaf stated, “A number of issues will also be discussed, including aspects related to bilateral relations between the two sides and ways to push them to broader and broader spaces that are consistent with the nature of the Iraqi internal demand at this time.”
https://economy-news.net/content.php?id=32251
Blaskhart Calls For Expediting The Approval Of The Budget And Giving Priority To Diversifying The Economy
Money and business Economy News – Baghdad The UN representative in Iraq, Jeanine Plasschaert, said today, Thursday, that the new Iraqi government has affirmed its commitment to combating corruption and improving services.
During her briefing to the Security Council, Plasschaert stated, “The Iraqi government needs political support to move forward and fulfill the aspirations of citizens, and affirmed its commitment to combating corruption and improving services, which are commendable efforts.”
“I encourage the Iraqi government to persevere in combating corruption,” she added, noting that “the government is making more efforts to recover smuggled funds.”
And she continued, “The government affirmed its commitment to settling outstanding issues with the Kurdistan region, and we look forward to a sustainable agreement between Baghdad and Erbil and its inclusion in the 2023 budget,” stressing “the importance of quickly approving the federal budget.”
She emphasized “the need to prioritize economic diversification and not rely on oil alone, including the development of a private sector with the ability to create job opportunities.”
https://economy-news.net/content.php?id=32249
The President Of The Republic: Approving The Budget Will Be A Starting Point For A Development Process In The Country
political| 03:37 – 02/02/2023 Baghdad – Mawazine News, President of the Republic, Abdul Latif Rashid, confirmed today, Thursday, that approving the budget is a starting point for a development process in the country.
A statement by the Presidency of the Republic, a copy of which Mawazine News received, stated that “The President of the Republic, Abd al-Latif Jamal Rashid, received today, Thursday, at the Baghdad Palace, the Chaldean Patriarch in Iraq and the scholar Cardinal Louis Raphael Sako.”
Rashid stressed, “Iraq is witnessing security and political stability that should be invested in order to improve living conditions and services,” referring to “his visits to the governorates of Basra and Mosul, meeting with citizens and congratulating Christians on Christmas.”
He added, “The security situation in the country is better than in some countries, and that the government’s ministerial program achieves service and economic development and emphasizes coordination between the provinces,” pointing out that “approving the budget will be a starting point for a development process in the country.”
He pointed out, “Some of the internal and external media do not reflect the true image of the country, and focus on the negatives only.”
Rashid stressed that “Christians are an integral component, and they must be given an active role in various political and administrative fields,” noting that “all authorities are required to defend the rights of Christians, which are guaranteed by the constitution to all citizens.”
For his part, Sacco expressed his “thanks and appreciation to the President of the Republic, appreciating Rashid’s support for the Christian component and his attendance at the Christmas Mass accompanied by his wife to congratulate him.”
The Cardinal reviewed, “a number of issues facing Christians, as he affirmed that the Christian component clings to its national identity and supports brotherhood among all segments of the people.” Ended 29/M99 https://www.mawazin.net/Details.aspx?jimare=218232
With A Circulation Close To A Trillion Dinars.. The Iraq Stock Exchange Reveals The Most Important Indicators For The Year 2022
Money and business Economy News-Baghdad The Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam Al-Rubaie, revealed the market indicators in 2022, indicating the factors affecting the share price and market plans for the current year.
Al-Rubaie said at the second annual economic forum held at Cihan University – Dohuk, entitled “The Future of the Iraqi Economy in Light of the Current Crises,” that “the most important trading indicators in 2022:
Trading on the shares of (92) Iraqi joint stock companies out of (103) companies registered in the market
Joint stock companies based on the decisions of the Securities Commission.
Number of suspended companies (3)
The number of traded shares reached (564,572,921,564) shares.
The value of traded shares amounted to (894,741,518,521) dinars.
The number of executed contracts and deals reached (597,135).
The ISX60 traded share price index closed at (950,585) points in the last session of 2022.
Al-Rubaie touches on the most important factors affecting the prices of traded shares, noting that “the share prices of joint-stock companies listed and traded in the Iraq Stock Exchange are affected by many factors referred to by a number of research, studies and reports – the most important of which were: the financial position of the joint-stock company, and the levels of profit achievement compared to the size of the capital Money – or deficit in activity, annual monetary profits and its stability from one year to another, national economic growth indicators, annual GDP volume, annual per capita income rate, annual inflation indicators, stimulus mechanisms and market making, as well as corporate governance, in addition to international accounting standards, and finally investment. the foreigner.”
He concluded his speech in the most important plans for the year 2023 for the Iraq market, noting that it is represented by “organizing the holding of sessions and trading activity in securities, listing new joint stock companies, diversifying traded securities, culture of trading in securities, monitoring, inspection and compliance with anti-money laundering and terrorist financing controls, infrastructure development – Adding new regulations to activity and providing new financial services – financial inclusion, applying new instructions and rules – complying with international standards for activity, participating in amending prevailing laws in accordance with international standards. https://economy-news.net/content.php?id=32238
The Minister Of Planning Affirms The Serious And Great Desire To Continue The Partnership With Washington
Deputy Prime Minister and Minister of Planning Muhammad Ali Tamim affirmed the serious and great desire to continue partnership and cooperation with the United States of America in order to achieve the goals of sustainable development and improve the level of performance.
And the ministry stated in a statement: “Tamim held a joint press conference with the US Ambassador to Iraq, Elena Romansky, in the ministry, after announcing the completion of an integration project to improve performance and establish good governance, which was implemented by the US Agency for International Development.”
Tamim said, according to the statement, that “we have attached, within the government program, exceptional importance to applying the principles of good governance in order to achieve a better life for citizens and to establish the pillars of state security in all fields.”
He pointed out that “the ministry is working within the framework of improving the level of performance through many activities and policies and in cooperation with the Takamul project through what the ministry’s departments and formations, committees and work teams emanating from the National Committee for Sustainable Development are doing.”
Tamim added, “Achieving the required results from all these partnerships, policies and events requires working to sustain their application and continuity within government institutions at all levels.”
For her part, Romanowski expressed “deep gratitude on behalf of the United States for the support provided by the Government of Iraq and the Kurdistan Regional Government in promoting good governance and improving basic public services.”
https://www.radionawa.com/all-detail.aspx?jimare=33263
The Rise In Oil Prices And Brent Exceeded $83
Economie| 09:02 – 02/02/2023 Follow-up – Mawazine News Oil prices rose on Thursday, after falling in the previous session, as the weakness of the dollar restored some appetite for risky assets, and the OPEC + decision to continue cutting production helped calm fears of an increase in supply.
The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, still promising “continued increases” in borrowing costs in its unresolved battle against inflation.
And by 0353 GMT, Brent crude futures rose 65 cents, or 0.8 percent, to $ 83.49 a barrel, while US West Texas Intermediate crude futures rose 71 cents, or 0.9 percent, to $ 77.12 a barrel.
Both benchmarks fell by more than 3 percent last night after data from the US government showed significant increases in stocks of crude and oil products. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=218195
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