Iraq Economic News and Points to Ponder Friday AM 9-22-23
Parliament Sets 3 Months To Restore The Dollar Exchange Rate To Its Official Rate
Politics , 09/22/2023 10:20 Number of readings: 96
Baghdad – Iraq today: The Parliamentary Finance Committee reported that within the next 3 months, the dollar exchange rate will be restored to its official rate.
Committee member Moeen Al-Kazemi said in a television interview, “Iraq opened remittances to import necessary materials, and the Central Bank of Iraq provided approximately 80 percent of the Iraqi market’s needs with official fundamentalist remittances.”
He added, “There remains 20 percent in the black market for which the Central Bank cannot issue a transfer due to imports from countries banned by the US Federal Reserve. Therefore, merchants concerned with obtaining dollars from the black market resort to the parallel market, which leads to this significant increase.”
He continued, “The Central Bank delayed financing its funds from the American side for two periods, and this is considered an obstruction to the work of the Central Bank and the economic situation in Iraq.”
He pointed out that “the American and Treasury restrictions have a pressing impact on the flow of the Central Bank’s work, so important measures have been put forward, including facilitating the tax issue for merchants in a way that encourages what is required, that is, the one who pays these taxes, to review the tax authority, pay what he owes, and settle what he owes over the previous period,” pointing out “This procedure is important and is one of the things that encourages the trader to enter the currency window instead of going to the parallel market, which leads to a gradual reduction in the price of the dollar.
He pointed out that “over the next three months, the dollar exchange rate will be gradually restored to its official rate.” LINK
Identifying The Parties Behind The Rise In The Exchange Rate In The Parallel Market
Policy Information / Baghdad.. Today, Friday, economic affairs researcher Muhammad Al-Saadi criticized the continued rise in the dollar exchange rate in the parallel market, attributing this to the presence of many speculators and financial mafias working to monopolize the markets and exchange companies with the aim of controlling the foreign currency.
Al-Saadi told Al-Maalouma, “The government continues to take measures to pursue speculators and limit the sale of the dollar outside the framework and powers of the monetary authority, and has worked to open many outlets to sell the currency in accordance with legal procedures.”
He added, “The rise in the dollar exchange rate that the parallel market is witnessing from time to time may be behind financial mafias and speculators who agree among themselves to sell the currency to some exchange companies at an agreed upon price, in order for it to be offered at a high price, or through that they try to achieve profits on goods they imported at the state price.” the official”.
He stated that “the government can reduce the demand for the dollar in the parallel market by opening companies affiliated with the central bank that work to sell the dollar according to certain specifications, as well as entering the car market to give the dollar to anyone who wants to buy a car, especially since such markets are in which the dollar currency is dealt with.” LINK
Hussein: We Discussed With Washington Linking The Market And The Dinar To The Dollar… And It Reveals Provisions Of The Agreement With Iran
Time: 09/22/2023 12:59:46 Read: 572 times {Politics: Al-Furat News} Foreign Minister, Fuad Hussein, confirmed that the recent Iraqi-American discussions focused on bilateral relations and joint work in the fields of economy, energy, health and security.
Hussein explained in a press statement that the American-Iraqi relations are distinguished, and have expanded to include various fields, after they were based on security and military cooperation, indicating Washington’s support for the Iraqi position in the international arena, and for economic reform and development in the country.
Regarding the security agreement recently signed between Iraq and Iran, he stated that its provisions were fully implemented by the Iraqi side, with regard to the return of militants present on the border between the two countries in Iraqi Kurdistan to refugee camps.
Regarding the political and security importance of this agreement, Hussein stressed that Iran’s cessation of bombing areas in Iraqi Kurdistan was a condition of the agreement, in exchange for the removal of militants across the border, which the federal government did in cooperation with the Kurdistan Regional Government, in an “important and successful” process for both sides. .
Regarding the possibility of signing a similar agreement with Turkey regarding the armed Kurdish groups that Ankara demands to be removed from the border, Hussein stated that Baghdad has always been in favor of dialogue, expressing his hopes for “intensive dialogues by the same means” with the Turkish side.
The Foreign Minister stated that Ankara has not yet made room to discuss solutions to this problem in another way, far from the use of weapons and violence.
The same spokesman revealed that the President of the Republic summoned the Turkish ambassador to Baghdad to hand him a protest note after the recent bombing, which targeted Arbid Airport in Sulaymaniyah.
The Iraqi official denied the existence of any agreement with Turkey to allow it to carry out repeated strikes on Kurdistan Workers’ Party forces in northern Iraq.
Regarding relations with Kuwait, the spokesman explained that the Prime Minister held an “important meeting” with his Kuwaiti counterpart, during which he stressed “Iraq’s full commitment to all Security Council resolutions, bilateral agreements, and respect for Kuwait’s sovereignty.”
Returning to the issue of relations with the United States, the Iraqi official revealed that among the important issues raised at the level of dialogue with Washington is “the issue of linking the Iraqi market and currency to the dollar and the flows of American currency into the country,” noting that it is “a financial and banking issue related to the financial and economic situation of Iraq.”
In his answer to a question about whether security issues related to armed groups affiliated with Iran were among the files that were discussed, Hussein Fouad said, “We did not discuss this issue, and all groups are subject to the Commander-in-Chief of the Armed Forces, that is, to the orders of the Iraqi Prime Minister.”
Regarding the relations between Saudi Arabia and Iran, the spokesman indicated that the two countries have declared and strong relations, after the exchange of ambassadors and visits by the two foreign ministers, indicating that Baghdad played a role in the restoration of their relations, but the discussions between them are now direct. LINK
Al-Abadi Comments On Kirkuk And Reveals The Reasons For The Increase In Dollar Prices
Policy 09-21-2023 | Source: Alsumaria News 12,905 views Former Prime Minister Haider al-Abadi considered that the success of the current government does not depend on pleasing the United States of America, and while he revealed that the coordination framework had signed a request regarding those belonging to ISIS, he pointed out the reasons for the increase in dollar prices, and also called on the political blocs not to give away what they do not have in their possession. His comment on the recent “Kirkuk crisis”.
Al-Abadi said in his interview with the program “Balmukhtazil”, broadcast by Al-Sumaria TV, that “many of those affected ISIS Whether the fighters or residents have not regained all their rights yet, and there is a request in the political document not to hold accountable those who fought with the ranks ISIS
Whoever belongs to them is not considered a criminal, and the coordination framework was signed within the political agreement on that,” indicating that “there was a kind of race to sign the document to form the current government without discussing it, while what was signed was not a political matter, but a governmental matter.”
He added, “There is a difference between the unseen and those who were killed and not reported. There are cases reported that they were killed during the liberation of the regions, and this indicates that they were killed with the terrorist organization, and in the political document they demand that these people be given salaries and compensation without investigation and for the sake of electoral gains at the expense of their blood.
” Innocent people,” noting that “there is no violation of the citizens of the liberal areas, and we were keen to investigate all the video clips that spread at that time that contained field executions by some armed parties, and most of which we did not reach a conclusion with.”
Regarding the region’s crisis, Al-Abadi stressed that “the region must be dealt with on the basis of one Iraq and one interest, and to move away from the atmosphere of ‘I will support you and you will give me’ because this will lead to the surrender of rights that do not belong to the parties but to the citizens,” explaining that “some deprive the region’s citizens of their rights to please their audience.” “electoral.”
He pointed out that “in 2018, the budget it had presented was withdrawn, and with a ‘swipe of a pen’ the region’s salaries were increased by 50% without accounting for the sake of political gain, and the government must calculate the region’s salaries “Accurately for the benefit of the citizen and not for a political purpose,” stressing that “the region He refused to name his employees and link them to the federal government, and on the other hand, he accused it of not giving them or paying them salaries.”
Regarding Kirkuk, Al-Abadi explained, “The current Prime Minister, Muhammad Shiaa Al-Sudani, has a statement that what is happening in the governorate is a political agreement and that he did not sign it. Therefore, the political blocs should not give what they do not have and leave the matter to the people ofKirkuk, who are the ones who decide their fate,” adding: “I did not sign the current document because of the presence of paragraphs that work towards quoting the state.”
The head pointed out Victory coalition He pointed out that “the problem of Jurf al-Sakhar lies in that some of its residents were displaced to Anbar during the time of liberation, and others to northern Babylon. Here the government must decide if they pose a danger, why their affairs are not scrutinized, and if they are otherwise, why they do not return to their places,” indicating that “There is a difference in vision regarding this area, and the holy shrines also have an opinion not to rush this issue because it is very close to it and it is not possible to risk it again, and there is a perception among people that the danger still exists.”
Regarding Al-Sadr’s withdrawal from the political process, Al-Abadi said, “Al-Sadr chose a path for himself and there are blocs that he does not want to ally with within the framework. He worked hard in his decisions and has a vision of reforming the situation inside the country, but he cannot do it alone because Iraq has many political pluralisms,”
noting that he “The country cannot be left without a government, and it is difficult to manage the political process without Al-Saadr, but he blocked the path to understanding and until the withdrawal of his deputies, we thought it was a pressure card, but he insisted on the matter and did not want to cooperate fully with the framework, so he did not participate in the provincial council elections even.” “.
He added, “Al-Sadr’s objection came because most of those in the framework had corruption and quotas, while those allied with them also had files of corruption and quotas. The matter is not a matter of love and hate, but of running a state, and that is why I was with the obstructing third,” explaining that “Al-Sadr tried to concede in Sometimes, but he set conditions on the framework that he bring in some of his leaders, not all of them.”
He continued, “Some see the Prime Minister as a traffic policeman who regulates the course of the political process, but the truth is that he is the first executive man in the state, and the issue of lending to the region was raised by the Prime Minister and was not discussed, but he explained some of the problems in the accounts and the region’s entitlements,” noting that “Parliament put it in a draft.
” The budget included provisions that made it impossible to implement the paragraphs related to the region, so he decided to resort to loans, and Al-Maliki was the first to support this decision.”
Regarding the issue of early elections, the former Prime Minister stressed that “they cannot take place unless there is a logical reason for them, and now there is no motivation to hold them. The October demonstrations are the only thing that called for early elections because it was a real crisis between the regime and the Iraqi street, but After that, there was a great reluctance to vote, and there was no need for early elections.”
He pointed out that “there is no external or internal interference in the installation of Mustafa Al-Kadhimi as head of Iraqi intelligence, and the “message” incident was from a person who was not from the American government and was calling for the installation of another person. The forgery was revealed and he was arrested,” indicating that “we needed to infiltrate the organization.
ISIS uses intelligence to uncover plans before they happen, and the agency at that time did not have the ability to do such things, so it worked to replace those present with a person who had the least objection rate from those present ability, and the political blocs that chose Al-Kadhimi for the position of prime minister are the ones who bear the consequences of their decisions.”
Al-Abadi confirmed, “ISISWho stole the Baiji refinery and it was recovered with difficulty, and parts of it were vandalized, and the committee that was sent to it examined the damage and confirmed that it needed time to restore it to work, but with the vandalism that occurred, there were valuable pieces inside the refinery that caused us problems, and people who were wearing fighter uniforms looted these pieces, and ironically Fate is that the gangs that deliveredIraqtoISISShe is the one who controls now and accuses others of theft.”
He added, “Some Sunni leaders in a time of displacement and attacks byISISThey came to negotiate with me in order to give them compensation only to them and not to all the citizens there,” adding, “The pieces that were returned to the liquidator recently are not important, and he is working without them, and what happened was a case of gaining votes in the upcoming elections.”
He explained, “The success of the current government does not depend on pleasing America. There is a conflict within the United States between Democrats and Republicans and a division within its societies. Both sides cannot be satisfied, and everything that is happening in their view is caused by Iran, and Iraq is now paying the price for being a neighbor of the Islamic Republic,” revealing,
“The United States demanded earlier, they specified the rate of money laundering in the dollar and where it goes, and they provided us with some places, but without numbers, such as the Emirates and Turkey, and these two countries have their banks open to America, but only Iraq is held accountable.”
Regarding the monetary policy followed, Al-Abadi considered that “the defect in the Central Bank of Iraq cannot be solved through security methods, but rather through economic policy that can be controlled, and that the pressure on traders and investors will cause them to turn to the black market,” adding, “We must reduce the red tape in the process of transferring legitimate funds and keep the state active in this aspect.”
He suggested that “the monetary supply is the reason for the increase in dollar prices. In 2014, it was 41% and currently it is more than 100%, and this is what will lead to inflation,” stressing that “there are problems in the government’s dealings with the economic file. ” LINK
Points to Ponder From Seat of the Soul by Gary Zukav:
You create your reality with your intentions
An intention is a quality of consciousness that you bring to an action
At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention — If you choose unconsciously, you evolve unconsciously — If you choose consciously, you evolve consciously
Every action, thought, and feeling is motivated by an intention — and that intention is a cause that exists as one with an effect — If we participate in the cause – it is not possible for us not to participate in the effect — In this most profound way – we are held responsible for our every action , thought, and feeling, which is to say, for our every intention
