More Iraqi News Thursday PM 1-13-22
TLM724 Administrator BondLady’s Corner
Specialist Calls On Mps To Fulfill The Return Of The Dollar Exchange Rate
Economic 01/12/2022 | 8:47 PM Information / Baghdad… The expert in economic affairs, Basil Al-Obaidi, called, on Wednesday, for members of the House of Representatives in the current parliamentary session to fulfill their promises they made to themselves regarding the follow-up of the file of the exchange rate of the US dollar against the Iraqi dinar and seek to return it to its previous era.
Al-Obaidi said in a statement to the “Information” agency, that “the members of the House of Representatives in the current session, and before winning the parliamentary seats, made a pledge to return the exchange rate of the US dollar against the Iraqi dinar, which affected the poor and greatly affected large layers of the people.”
He added, “The government’s decision, represented by the Ministry of Finance, to suddenly raise the exchange rates of the dollar against the dinar created a real economic crisis for the Iraqi citizen, resulting in a significant increase in the prices of most of the materials used to be purchased.”
Al-Obaidi indicated, “The Ministry of Finance is responsible for this decision, which it planned and directed to implement at a time when international oil prices and the reserves of the Central Bank have witnessed a decline, pointing out that “cash reserves have become promising, and oil prices have also begun to gradually rise.”
He pointed out that “the rise in international oil prices and the financial abundance that resulted from it made it imperative for the next government to take measures to reduce the exchange rate below the current or return it to its previous era.”
The rise in the price of the US dollar against the Iraqi dinar exacerbated the suffering of large layers of society, which prompted citizens to austerity to manage their affairs, amid difficult living conditions. finished / 25 BC https://almaalomah.me/2022/01/12/576213/
Economist: The Government Has No Justification To Continue Raising The Dollar Exchange Rate
Economic Last update 01/12/2022 | 8:59 AM Information / Baghdad… The economic expert, Ihsan Al-Kinani, confirmed that the government does not have any justification to continue to raise the exchange rate of the dollar in the local markets, pointing out that oil prices and financial abundance make it imperative for the next government to take measures to reduce the exchange rate.
Al-Kinani told Al-Maalouma, “Oil prices exceeded 80 dollars per barrel, at a time when Iraq was able to overcome the financial crisis that occurred in 2020, which pushed towards raising the exchange rate of the dollar, and today the need for that is no longer needed.”
He added, “Iraq has all the financial capabilities and qualifications that necessitate a reduction in the exchange rate, especially after the completion of Kuwait’s compensation and the rise in oil prices, as well as the increase in oil production by OPEC after its last meeting on Tuesday of last week.”
And he indicated that “the next budget will be decisive, either to continue starving the people, or to return things to their previous status by reducing the exchange rate and specifying it in the budget.”
Money Laundering Is The Reason.. Report: Baghdad Real Estate Prices Exceed Those In Dubai And Turkey
Economic Last update 01/12/2022 | 10:36 AM The Information/Baghdad…A report by the official “Al-Sabah” newspaper, on Wednesday, stated that real estate prices in Baghdad, especially vacant plots of land, are now superior to those in Dubai, Amman or Turkey, noting that money laundering operations are behind the high prices.
The report, which was reviewed by “The Information”, stated that “the prices of real estate in Baghdad, especially the vacant plots of them, have reached numbers that are “beyond imagination”, and some of them are now superior to their counterparts in Dubai, Amman or Turkey, and in the midst of the frightening frenzy of prices, especially In the capital, some analysts speculate that the reason is money laundering by some influential people.”
He added, “This comes at a time when specialists are calling for the formation of a special committee or committee to follow up the purchase of residential real estate, under the item (from where did you get the money to buy this or that property?”).”
The newspaper quoted the owners of real estate offices as saying that “in some areas of the capital, the price of one commercial meter exceeded ten thousand dollars, after it was less than three thousand dollars two or three years ago.”
They added, “This matter may reflect a large part of the money laundering operations of some influential people after tightening the screws on their transfers abroad, forcing them to direct them internally to buy real estate and speculate in their prices in this crazy way. https://almaalomah.me/2022/01/12/576081/
Documents .. The Federal Court Decides To Stop The Work Of The Presidium Of Parliament
political| 02:26 – 01/13/2022 Baghdad – Mawazine News The Federal Supreme Court decided, on Thursday, to temporarily suspend the work of the Presidency of the Parliament.
The court issued a state order, according to documents obtained by Mawazine News, to temporarily suspend the work of the Parliament’s Presidency until a decision is made on the case filed by Representative Basem Khashan and Representative Mahmoud al-Mashhadani regarding the events and legal violations that accompanied the first session of the House of Representatives in its fifth legislative session. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=181511
Al-Kazemi Receives The Representative Of The Secretary-General Of The United Nations In Iraq And A Number Of Ambassadors
Political | 04:16 – 13/01/2022 Baghdad – Mawazine News, Prime Minister Mustafa Al-Kazemi received, on Thursday, both the United Nations envoy to Iraq and a number of ambassadors of friendly countries; To discuss Iraqi affairs, bilateral relations, areas of common interests, and coordination in the international arena.
Al-Kazemi received the Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Plasschaert, and during the meeting, they discussed various files in which the international organization cooperates with Iraq, and everything that would strengthen peace and stability and Iraq’s role regionally and internationally.
The Prime Minister received the French Ambassador to Iraq Eric Chevalier and his accompanying delegation, and during the meeting, they discussed ways to develop cooperation and consolidate bilateral relations between Iraq and France, and stressed Iraq’s keenness to build the best partnership and exchange relations with France, in a way that enhances the bonds of friendship between the two Iraqi peoples. And the French.
Al-Kazemi also received the new ambassador of the Italian Republic in Iraq, Maurizio Cricante, who conveyed the greetings of the Italian government, and its wishes for the continuation of the progress achieved by Iraq at various levels. In providing advice and training to the Iraqi forces, the meeting discussed ways to strengthen bilateral relations in various fields such as economic, cultural, and health for the benefit of the Iraqi and Italian peoples.
He received the Russian ambassador to Iraq, Elbrus Kutrashev and his accompanying delegation, and the meeting witnessed discussions on Iraqi-Russian relations, ways of developing them and prospects for expansion, as well as discussions in the areas of Iraqi cooperation with friendly countries, and the strengthening of the positive Iraqi role, in a way that enhances the security and stability of the region.
Rafidain Bank Launches Building Bonds For Citizens
Banks Economy News _ Baghdad Today, Thursday, Al-Rafidain Bank announced the launch of the second issue of construction bonds after the completion of the first phase.
And the bank’s media office said in a statement received by “Al-Iqtisad News”, that “the bank directed its branches in Baghdad and the provinces to receive requests from citizens wishing to purchase these bonds and with the same previous instructions.”
He added, “The bank set earlier controls for the sale, including a bond of 500 thousand dinars with an interest rate of 6 percent for a period of two years, and a bond of one million dinars with an annual interest of 7 percent for a period of four years.”
The statement called on “citizens to take advantage of the opportunity and visit the bank’s branches to apply for this service that benefits the customer.”
Views 215 Date Added 01/13/2022 https://economy-news.net/content.php?id=27110
Expectations Of A Rise In Oil Prices To 125 Dollars This Year
Economie| 09:30 – 13/01/2022 Follow-up – Mawazine News, JP Morgan said it expects the surplus production capacity of the Organization of the Petroleum Exporting Countries (OPEC) to decline over the course of 2022, which increases the risks of a sharp increase in crude prices.
The US investment bank expects oil prices to rise to reach $125 a barrel this year and $150 a barrel in 2023. “We see a growing recognition in the market of weak global investment in supply,” he said.
Oil prices hit two-month highs on Wednesday, supported by a supply shortage, as crude inventories in the United States, the world’s largest consumer, fell to their lowest levels since 2018.
The bank said in a note that assuming production at the current quotas, the surplus production capacity of OPEC will fall to four percent of the total production capacity by the fourth quarter in 2022, from 13 percent in the third quarter in 2021.
He added that the weak investment within the OPEC + countries and the increasing demand for oil after the pandemic may lead to a potential energy crisis. Ended 29/N33
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