Academics: Strengthening Relations With International Institutions Contributes To Supporting The Iraqi

 Economy      Economical 11/28/2024 Baghdad: the mainstay of the emirate   Academics praised the steps of the government of Prime Minister Muhammad Shia al-Sudani to achieve financial reform, indicating that strengthening relations with international institutions contributes to supporting the Iraqi economy.

 Iraq has recently   succeeded in strengthening its relationship with international economic institutions and organizations, and has   projected a positive image to the world with its ability to fulfill its international financial obligations, including the International Monetary Fund, and has been   able to begin reform.

Last May, the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, announced that Iraq had repaid all of the loans it obtained from the Fund, the total of which did not exceed 8 billion dollars.   https://alsabaah.iq/106428-.html     

Al-Alaq: Growth In Iraq Is In Line With The Global Trend Of Increasing Population

Local | - 11/27/2024  Mawazine News – Baghdad  The United Nations Population Fund Advisor, Mahdi Al-Alaq, confirmed today, Wednesday, that the growth in Iraq is in line with the global trend of increasing population.

Al-Alaq explained in a statement to the official agency, followed by "Mawazine News", that "the initial results of the census reflect an annual population growth rate of 2.3%, a rate that classifies Iraq among countries with medium to high population growth."

He added, "These numbers are in line with the global trend of increasing population," noting that "the population of Iraq increased from 31 million people 15 years ago to 45 million people annually."

He pointed out that "the population census is in its final stages, as field teams are working to complete the collection of basic data in some areas, with a focus on addressing deficiencies and ensuring accuracy."

He also explained that "the work will continue until December 10, and that all detailed data will be collected within the next two weeks, as it includes accurate information on the demographic, social and economic characteristics of the population."

Al-Alaq stressed the importance of "this data in supporting sustainable development plans in Iraq, as it will help guide policies related to education, health, housing, and job opportunities, in line with the needs of the growing population."   https://www.mawazin.net/Details.aspx?jimare=256971

Withdrawal Of The License Of The Oman Brokerage Company To Buy And Sell Foreign Currencies

 November 27, 2024   diamonds: The Central Bank of Iraq decided to withdraw the license of the Amman Company to mediate in the buying and selling of foreign currencies.

 For more , click here    https://cbi.iq/static/uploads/up/file-173269795553645.pdf

 https://cbi.iq/news/view/2721    

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 [approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-173269795553645.pdf    ]

 DATE: 2024/11/26    (Your counterpart in creation)

Ministry of Commerce / Companies Registration Department

 M / Withdrawal of leave

 Based on the decision of the Board of Directors of this bank No. (257) of 2024 taken in its session No. (1661) six hundred and sixty-one after one thousand held on 2024/11/19, we would like to inform you of the following:

 It has been decided to withdraw the license of the Oman Company for brokerage in buying and selling foreign currencies and cancel the certificate of incorporation granted to it from the above-mentioned controls regulating the work of exchange companies and brokerage in buying and selling foreign currencies No. (1) of 2022 as amended.  With appreciation.   https://cbi.iq/news/view/2721    

The Success Of The Economy Saves The Drowning Of Politics

Mahmoud Dagher:   At a time when some governments of the rentier system insist on expanding analyzes and political approaches and various elements of ideology, there is a decline in interest in the economics and management of depleted oil resources towards diversification in other governments, to the point where the interests of the economy and the well-being of the population take precedence over others, and the criterion for success becomes clamor.

Industry, agriculture, technology, and the accompanying development of human resources, versus whispers of politics and ideology.

 Such a conclusion is prompted by what Moody’s credit rating agency published regarding the new credit rating of the Saudi economy, which reached Aa3 with a stable outlook after eight years ago for this agency, it was A1 with a positive outlook for the future.

 It means an improvement in the state’s credit capacity, including its entry into the bond markets and the acceptance of its proposals. Financing and with lower interest.

 Rather, more importantly, Saudi banks and other financial institutions enjoy the advantage of the new classification after they could not market their financing except with the old classification because financial institutions cannot exceed the classification. State.

 Iraq, for example, is classified as B-, and therefore the highest at which its banks can be classified is the same classification or lower.

 It was noted a few months ago that the classification of the largest Iraqi bank, TBI, was downgraded.

 The macroeconomic credit rating and its changes depend on numerous economic and financial criteria reflected in the levels of financial and economic performance, including the

      level of public debt,

     growth rates, and

     improved private sector performance, as well as

     non-oil revenues and the

     performance of non-oil output.

The sum of these criteria leads to an improvement in the level of economic diversification of the rentier state under the classification.

 Which is the most important conclusion from the new classification of Saudi Arabia compared to other economies.

 The growth rates of non-oil production sectors have increased, expectedly, to 4-5%, in addition to the non-oil revenues reaching about 40% in total public revenues. In fact, Saudi Arabia’s non-oil exports grew by 22% for the month of September 2024, and such results lead to an increase in the share of The output of the private sector in Saudi GDP, which is expected for the latter to grow up to 4.7%.

The high rating of the Saudi economy is attributed to a long-term economic path of diversification transformation that is considered the mainstay of long-term growth, as well as the tangible approach to independence from the oil crises.

Providing economic interests towards higher prosperity is what leads to the easing of political and ideological tension, despite its presence in our region that floats on oil and the problems associated with it. 

 Yes, improving the performance of the economy is a way to save yourself from the drowning of politics.

 views 257     Added 11/24/2024 - 7:36 PM   https://economy-news.net/content.php?id=50185    

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