In TNT 

Tishwash: Saleh calls for strengthening the financial situation of Iraq by adopting a balanced monetary policy

Today, Sunday, the President of the Republic, Barham Salih, called for the need to strengthen the financial situation of the country and preserve the independence of the Central Bank.

A presidential statement, a copy of which was received by Al-Mawred News, stated that “President Barham Salih received the Governor of the Central Bank of Iraq, Mustafa Ghaleb Al-Kitab, during the meeting and discussed the monetary and financial situation in the country in light of the current challenges.”

Saleh stressed the need for “the independence of the central bank, strengthening the country’s financial position by diversifying the state’s resources and following a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic, and low oil imports.”

For his part, the book reviewed, “the current functioning of the Central Bank on the financial and monetary situation, and the steps taken to reduce the economic repercussions,” appreciating the support of the President of the Republic to achieve the goals of improving the financial and monetary situation and providing the necessary services to citizens.  link

Tishwash:   Central Bank conducts assessment to determine iraq’s fiscal deficit

The Central Bank’s board of directors on Sunday announced a decision to reassess the financial position of private banks and determine their deficit ratio.

The Central Bank said in a statement today, that its board decided at its recent meeting in September 2020 to reassess the financial position of all private banks, by directing the relevant departments of this bank, by “auditing and evaluating the capital of private banks and determining the deficit ratio and the sources of those funds.”

The decision is in line with the bank’s management-led reform plan to create a real banking sector, in line with depositors’ demands for dealing with such banks, the source said.  link


MRiles:  The forex market is open 24 hours a day during weekday hours, but closed on weekends. With time zone changes, however, the weekend gets squeezed. The forex market opens on Monday morning at 8 am, local time in Sydney, Australia (which equates to Sunday night at 7 pm, in New York City, under Eastern Standard… 7pM EST 4 PM PST… this what we are waiting for??

RVALready:  Waiting for the CBI governor to say “OK, here’s your blasted rates. Now quit calling me.”


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