Friday Morning Iraq Economic News Highlights 4-14-23
Friday Morning Iraq Economic News Highlights 4-14-23
Al-Bawi Is Likely To Continue To Recover The Dinar Against The Dollar, With The Approaching Approval Of The Budget
Information / Baghdad.. Political analyst Hazem Al-Bawi suggested, on Friday, that the dollar will continue to decline and collapse against the dinar, as the timing of approving the financial budget for the current year approaches.
Al-Bawi said, in a statement to Al-Maalouma, that this continuous decline in the ceiling of the price of the American currency in the local stock exchange, especially in the capital, proves to the people that the political and economic decision-maker in power is more serious in the task of dealing with this crisis that has affected the people in recent years due to the chaotic politics. The criticism followed by the government of Mustafa Al-Kazemi.
He added that the people are the asset of any government, and that the Sudanese cabinet, if it wants to write for itself success, is required to prove its credibility before it, and thus solve suffocating economic crises, most notably the dollar, as well as housing, unemployment, services, and others.
He pointed out that the cabinet's progress with a clear-cut scientific service program makes the people the first line of defense in the face of any political campaign, whether internal or external, to which the government is exposed in the foreseeable future. LINK
The Stability Of The Dollar Exchange Rate In The Local Market Today, Friday
Friday 14, April 2023 13:08 | Economical Number of readings: 67 Baghdad / NINA / - The exchange rate of the dollar in the local market witnessed stability today, Friday.
The selling price was recorded at 146 thousand dinars per hundred dollars, while the purchase price reached 145 thousand dinars per hundred dollars, which is the same price as yesterday, Thursday.
Democrat: Speeding Up The Approval Of The Budget Will Reduce The Differences Between The Center And The Region
Democrat: Accelerating the approval of the budget will reduce the differences between the center and the region
Information / Baghdad.. The representative of the Kurdistan Democratic Party, Sharif Suleiman, affirmed, on Friday, that his party stands by the government and its directions, especially the speedy approval of the budget, pointing out that this would reduce the differences between the center and the region.
Suleiman said, in a statement to Al-Maalouma, that "some paragraphs of the budget will witness amendments before proceeding with its legislation in the House of Representatives, especially since most of the blocs agree on the speed of its passage and its entry into force .”
He added, "The Kurdistan Democratic Party stands by speeding up the approval of the budget, and this matter would reduce the differences between the center and the region regarding the budget and revenues and solve many problems between Baghdad and Erbil."
And he indicated that "the Democratic Party stands by the government, its directions and projects, and is awaiting the approval of the budget in order to guarantee the rights of all the Iraqi people with all its components and the reconstruction of cities affected by terrorism to ensure the return of its people.” LINK
International Monetary Fund: Growth In The Middle East Will Slow To 3.1% In 2023
Arab and international Economy News-Baghdad The Director of the Middle East and Central Asia Department at the International Monetary Fund, Jihad Azour, said during a press conference today, Thursday, that the growth of the gross domestic product of the Middle East and North Africa will slow to 3.1% in 2023.
He added that growth in oil-exporting countries in the region will slow to 3.1% in 2023 from 5.7% in 2022.
The Director of the Middle East and North Africa Department at the International Monetary Fund, Jihad Azour, said earlier that the oil markets will have the greatest impact on the Gulf economies in 2023, pointing to the strength of the economies of the countries of the region compared to the global economy.
Azour pointed out that economic diversification is an important element for the growth of the economies of the Gulf states.
He revealed that combating inflation is a necessity for the economies of oil-importing countries.
https://economy-news.net/content.php?id=33559
The Governor Of The Central Bank Of Iraq Participates In The Meetings Of The World Bank And The Monetary Fund In Washington And Confirms His Endeavor To Strengthen The Status Of National Banks
Baghdad - Iraq today: The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, confirmed that the purpose of restructuring the Iraqi banking sector is to strengthen and develop government banks, considering that strengthening and restructuring these banks represents a real rebuilding of the banking sector in Iraq.
Al-Alaq mentioned during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in the US capital, Washington, that the assets and assets of government banks constitute more than 80% of the Iraqi banking sector.
While the governor revealed that the Central Bank has a program to restructure government banks and has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund, stressing the existence of harmony between the Iraqi government and the Central Bank in the process of reforming the banking sector.
And he continued, that there are several possibilities related to the restructuring of government banks, as these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts, adding, that all the possibilities involved in merger and acquisition exist, and that any formula that is useful, we will study it with the competent authorities and organizations. International, which has long experience and expertise in this field.
It is noteworthy that the governor held several bilateral meetings on the sides of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in Washington, DC. LINK
Central Bank: We Have A Program To Restructure Government Banks
Information / Baghdad.. The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, confirmed today, Friday, the existence of a program to restructure government banks.
The media office of the Central Bank stated in a statement received by the agency, "The Governor of the Central Bank, Ali Mohsen Ismail, stated during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in the American capital, Washington, that the assets and assets of government banks constitute more than 80% of Iraqi banking sector.
He added, "The central bank has a program to restructure government banks and has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund," stressing "the existence of harmony between the Iraqi government and the central bank in the process of reforming the banking sector."
And he continued, “There are several possibilities related to the restructuring of government banks, as these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts.” and international organizations that have long experience and experience in this field.
The statement indicated that "Al-Alaq held many bilateral meetings on the sidelines of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in the US capital, Washington." LINK
Al-Alaq: The Assets And Assets Of Government Banks Constitute More Than 80% Of The Iraqi Banking Sector
04/14/2023 Earth News / The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, confirmed today, Friday, the existence of a program to restructure government banks.
The media office of the Central Bank stated, in a statement received by Earth News Agency, that “the governor of the Central Bank, Ali Mohsen Ismail, stated, during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in the American capital, Washington, that the assets and assets of government banks constitute more than 80% of the sector.” Iraqi banker.
He added, "The central bank has a program to restructure government banks and has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund," stressing "the existence of harmony between the Iraqi government and the central bank in the process of reforming the banking sector."
And he continued: “There are several possibilities related to the restructuring of government banks, as these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts,” adding that “all possibilities involving merger and acquisition exist, and that any formula that is useful we will study with the competent authorities and international organizations that have long experience and experience in this field.”
The statement indicated that "Al-Alaq held several bilateral meetings on the sidelines of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in Washington, DC." https://earthiq.news/archives/220491