Iraqi News Early Monday AM 2-28-22
Iraqi News Early Monday AM 2-28-22
TLM724 Administrator BondLady’s Corner
A government official warns of an economic shock to the country linked to the dollar exchange rate
Economie| 07:29 - 27/02/2022 Special - Mawazine News, on Sunday, the former Director of the Financial Supervision Bureau, Salah Nuri, ruled out returning the dollar exchange rate to its previous era.
In an exclusive interview with Mawazine News, Nuri confirmed that any change in the current exchange rate will cause a major economic shock to the country, as happened during its lifting, pointing out that all deliberations and hostings in this regard will not produce a result.
He pointed out that the current exchange rate has become a reality and cannot be changed quickly, likening the situation now to slums that cannot be removed directly without finding alternatives for their residents, and this is the case with the exchange rate with the dollar.
It is noteworthy that Parliament will hold a session tomorrow, Monday, to discuss the dollar exchange rate, in the presence of Finance Minister Ali Abdel Amir Allawi. https://www.mawazin.net/Details.aspx?jimare=185868
An Economist Rules Out The Dollar's Return To Its Previous Price
Saturday 26 , February 2022 | Economy Read Counter 49 Baghdad / NINA / - The Economic Expert, Raad Twij, ruled out the return of the dollar exchange rate to the previous price of 118 thousand Iraqi dinars.
Twij said in a statement to the National Iraqi News Agency / NINA /: “In view of the insistence of the Central Bank and the Ministry of Finance on the grounds that the recent change in the exchange rate was a final and decisive matter, it is unlikely to return to the previous exchange rate, especially since it has been a long time.”
He noted that "the Iraqi economy, with all its monetary and real sectors, has rebalanced the new price according to the market system.
He added: "Although the decision harmed many segments, especially the poor, it reduced the smuggling of hard currency to other countries, and the demand for hard currency is still high and increasing." / End https://ninanews.com/Website/News/Details?key=959320
Iraqi Optimism About Economic Gains After Exiting From Chapter VII
Baghdad is looking to strengthen its position after ending the Kuwait compensation file
Muayyad Al-Terfi is an Iraqi reporter Friday 25 February 2022 10:42
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Jabr indicated that Iraq's fulfillment of its obligations to Kuwait's compensation and its exit from the penalty of the seventh country will mean a better future for relations with the countries of the world, in which there is a kind of equality and mutual respect,
pointing out that this matter opens wide doors for investment and the development of Iraq's international status
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money that was placed in the Kuwait Compensation Fund can be invested inside Iraq, and this will be the responsibility of the government
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Iraq will reap the fruits of ending its international obligations in liberalizing the restrictions of Iraqi banks. From the cause of the seventh item
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Iraq has debts estimated at $28 billion
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Iraq’s exit from the seventh item will have clear results In the recovery of the banking sector after the lifting of sanctions on this sector,
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which will lead to the stability of the monetary situation, especially in light of the high reserves and banking transactions with foreign banks
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dealing with these banks will be easier, which will contribute to the development of the banking sector, and thus the development of the economic sector
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assets of the Central Bank of Iraq until the end of 2021, according to a report by the bank, amounted to more than 150 trillion Iraqi dinars, up to (100 billion dollars), including the cash reserve, which amounted to about 64 billion dollars, an increase of 19 percent compared to the end of 2020.
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The highest central bank since 2005, rising from 30 trillion Iraqi dinars in 2005 to 150 trillion Iraqi dinars at the end of 2021.
https://www-independentarabia-com.translate.goog/node/306716/اقتصاد/أخبار-وتقارير-اقتصادية/تفاؤل-عراقي-بمكاسب-اقتصادية-بعد-الخروج-من-البند-السابع
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