Iraqi News Highlights Monday Afternoon 5-22-23
Tlm724 Administrator Bondlady’s Corner
The Iraqi Central Bank Raises Its Sales Of Foreign Currency In Today’s Auction
Monday 22, May 2023 | Economical Number of readings: 306 Baghdad / NINA / – The Central Bank of Iraq’s sales of foreign currency increased today, Monday, to record more than $267 million.
According to the schedule of the currency sale window, the Central Bank sold during its auction today 267,047,986 dollars, which it covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.
Most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits), amounting to $241,947,986, while the remaining $25,100,000 went in the form of cash sales. /Ends8
https://ninanews.com/Website/News/Details?key=1054947
Iraq Falls Three Ranks Among The Largest Foreign Holders Of US Treasury Bonds
Monday 22 May 2023 | Economical Number of readings: 332 Baghdad / NINA / – The US Treasury Department announced today, Monday, that Iraq has fallen three ranks among the largest foreign holders of US bonds.
The treasury said in the latest table that “Iraq fell three ranks after it reduced its holdings of bonds during the month of March, to rank 33 among the countries with the largest possession of US Treasury bonds, which number 38 countries included in the table for countries that must have possession of more than 33 billion dollars.” “.
And she added, “Iraq’s possession of these bonds amounted to 39.3 billion dollars for the month of March, down by 3.44% from last February, in which Iraq’s possession of bonds amounted to 40.7 billion dollars.”
She pointed out that “Iraq was the fourth largest Arab country after Saudi Arabia, the Emirates and Kuwait, while Japan came on top of the countries with the largest possession of these bonds with one trillion and 87 billion dollars, followed by China second with 869 billion dollars, the United Kingdom third with 714 billion dollars, and Belgium fourth with 336 billion.” dollars, and Luxembourg fifth with 328 billion dollars.
And it indicated that “the total bonds of the countries of the world for the month of March rose by 230 billion dollars from last February, to reach 7 trillion and 573 billion dollars.”/ End 8
https://ninanews.com/Website/News/Details?key=1054940
Minister Of Commerce: Efforts To Provide An Investment Environment And Establish Real Partnerships In Various Economic Fields
Economy| 01:32 – 05/22/2023 Baghdad – Mawazine News, Minister of Commerce, Atheer Al-Ghurairy confirmed, on Monday, that the government program includes support for openness to the regional and international environment, while indicating the endeavor to provide an investment environment in various economic fields.
“We are preparing to hold the 74th session of the Baghdad International Fair under the slogan (Iraq continues),” Al-Ghurairy said, during a symposium of trade attaches at the Baghdad International Fair, noting that “this type of economic demonstrations constitutes a crossroads of exchange and economic cooperation, and it represents a real opportunity to consolidate cooperation relations between Iraq and the participating countries, upgrading them to advanced levels in partnerships, attracting investment and attracting expertise, learning about the latest developments in the investment sector and benefiting from them in achieving the goals of economic development.
He pointed out that “the government is working through the government program to support openness to the regional and international environment and strive to provide an investment environment and establish real partnerships in various economic fields, and develop these relations by activating the role of joint committees that take upon themselves the development and development of bilateral relations.”
He explained, “The interest in holding exhibitions is one of the measures taken by the government, which is one of the most important economic, social and cultural tools, establishing real partnerships and exchanging experiences with many countries of the world, striving to benefit from advanced experiences in the fields of economic development and investment, and providing the appropriate environment for local and foreign investors.”
He pointed to “the endeavors for the next session of the Baghdad International Fair to be a real opportunity and a wide starting point for cooperation, and it is a message to introduce Iraq as an attractive center for industry, trade and business, as it is the promising market for many international companies wishing to invest and enter the Iraqi market, and this casts a shadow over the economic interests between Iraq and the participating countries.” .
Al-Ghurairy called on members of the diplomatic corps in Baghdad and commercial attaches in embassies to “share efforts so that the next session will be effective in terms of international participation and the types of participating companies, so that the exhibition will be a real meeting opportunity that achieves common goals and interests by urging countries and companies to participate and establish real partnerships with the private sector.” Iraqi, who has become a key and active partner in economic development. https://www.mawazin.net/Details.aspx?jimare=227418
Minister Of Commerce: The Private Sector Has Become An Essential And Active Partner In Economic Development
Money and business Economy News – Baghdad Minister of Commerce Atheer Al-Ghurairy affirmed, on Monday, that the government program includes support for openness to the regional and international environment, while indicating the endeavor to provide an investment environment in various economic fields.
“We are preparing to hold the 74th session of the Baghdad International Fair under the slogan (Iraq continues),” Al-Ghurairy said, during a symposium of trade attaches at the Baghdad International Fair, noting that “this type of economic demonstration constitutes a crossroads of exchange and economic cooperation, and it represents a real opportunity to consolidate cooperation relations between Iraq and the participating countries, upgrading them to advanced levels in partnerships, attracting investment and attracting expertise, learning about the latest developments in the investment sector and benefiting from them in achieving the goals of economic development.
He pointed out that “the government is working through the government program to support openness to the regional and international environment and seek to provide an investment environment and establish real partnerships in various economic fields, and develop these relations by activating the role of joint committees that take upon themselves the development and development of bilateral relations.”
He explained, “The interest in holding exhibitions is one of the measures taken by the government, which is one of the most important economic, social and cultural tools, establishing real partnerships and exchanging experiences with many countries of the world, striving to benefit from advanced experiences in the fields of economic development and investment, and providing the appropriate environment for local and foreign investors.”
He pointed to “the endeavors for the next session of the Baghdad International Fair to be a real opportunity and a wide starting point for cooperation, which is a message to introduce Iraq as an attractive center for industry, trade and business, as it is the promising market for many international companies wishing to invest and enter the Iraqi market, and this casts a shadow over the economic interests between Iraq and the participating countries.” .
Al-Ghurairy called on the members of the diplomatic corps in Baghdad and the commercial attaches in the embassies to “share efforts so that the next session will be effective in terms of international participation and the types of participating companies, so that the exhibition will be a real meeting opportunity that achieves common goals and interests by urging countries and companies to participate and establish real partnerships with the private sector.” Iraqi, who has become a key and active partner in economic development. Views 93 05/22/2023 – https://economy-news.net/content.php?id=34345
Low Global Oil Prices
Economy| 08:34 – 05/22/2023 Follow-up – Mawazine News Oil prices fell on Monday, as caution about the US debt ceiling talks and concerns about the recovery of demand in China offset support from a decline in OPEC + producers.
Brent crude futures fell 54 cents, or 0.7%, to $75.04 a barrel by 0201 GMT.
Also, US West Texas Intermediate crude for June delivery, which is the most active contract, fell 61 cents, or 0.6%, to $70.94. https://www.mawazin.net/Details.aspx?jimare=227391
Iraq’s Oil Exports To America Declined During The Past Week
Sunday 21 May 2023 11:30 | Economical Number of readings: 453 Baghdad / NINA / – The US Energy Information Administration announced today, Sunday, that Iraq’s oil exports to America decreased during the past week.
The administration said in a report, “Iraq’s oil exports to America amounted to an average of 174,000 barrels per day during the past week, decreasing by 73,000 barrels as a daily average from the previous week, in which oil exports to America amounted to an average of 247,000 barrels per day.”
She pointed out that “most of America’s oil revenues during the past week came from Canada, followed by Mexico, Saudi Arabia, and then Colombia, while it did not import any amount from Russia.” /End 11
Oil Recorded Its First Weekly Gain In A Month
Economy Sunday, May 21, 2023 9:45 am Follow-up / National News Center
Oil prices rose, recording the first weekly gains in a month, and the benchmark “Brent” and Texas crude, the American mediator, rose by about 2%, despite the decline in prices during trading at the end of the trading week the day before yesterday.
Oil changed its trend to decline after negotiations to raise the public debt ceiling between Republican members of the US House of Representatives and the administration of President Joe Biden temporarily stopped.
And the US crude contract for May delivery, which is scheduled to expire on Monday, closed down 31 cents, equivalent to 0.4%, at $71.55 a barrel. https://nnciraq.com/206629/
Central Bank: We Have Not Issued Any Decision To Stop Electronic Payment Cards
Economy| 01:03 – 05/22/2023 Baghdad – Mawazine News The Central Bank of Iraq confirmed, on Monday, that no decision had been issued regarding stopping electronic payment cards, while indicating the tendency to prepare a strategy for dealing with international organizations to enhance financial inclusion.
The Deputy Governor of the Central Bank, Ammar Khalaf, said, “The Central Bank has not issued any decision to stop electronic payment cards, but rather it encourages their use inside and outside Iraq instead of the citizen taking the dollar outside Iraq. He can use the card for purchases.”
He pointed out that “there are many challenges facing the Central Bank, including the development of the financial sector, the exchange rate and its stability, electronic payment and increasing financial inclusion, all of which are major challenges and goals,” noting that “this needs the efforts of the private sector to achieve stability for the Central Bank.”
Khalaf continued, in an interview with the official news agency, which was followed by Mawazine News, that “the Central Bank alone is unable to achieve all its goals in light of the structural imbalance in the Iraqi economy.”
He pointed out that “there are continuous efforts made by the Central Bank, through monetary policy measures and meeting merchants’ requests to obtain foreign currency in accordance with legal contexts, and therefore the Central Bank uses various monetary policy tools, including the open market currency, the policy rate, and others, to achieve stability.”
He explained, “The Central Bank has integrated infrastructure, and it encourages banks to work with advanced technology, especially electronic payment tools and reduce the use of cash,” noting that “the Central Bank is working on a special strategy in dealing with international organizations to enhance financial inclusion as a goal.” essential to its objectives.
https://www.mawazin.net/Details.aspx?jimare=227414
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