Iraqi News Highlights and Points to Ponder Wednesday AM 3-6-24

Comment From Parliament On The Dollar Exchange Rate: Do Not Listen To The Losers

Economy |Baghdad today - Baghdad    Today, Wednesday (March 6, 2024), the Parliamentary Finance Committee confirmed that the dollar is controlled by the relevant government agencies, calling for not taking into account the rumors of losing and corrupt parties.

Committee member Moin Al-Kazemi told “Baghdad Today” that “there are some politically losing parties and personalities who have major suspicions of corruption, working to continue spreading rumors that the government is not in control of the dollar market and the Iraqi dinar is declining, for the purpose of political influence as well as influencing the market".

Al-Kadhimi added, "The government is currently in complete control of the dollar in all its transactions, and there is real and serious work to strengthen the Iraqi dinar," stressing that "everyone is required not to take into account the rumors of losing and corrupt parties, as they do not want economic stability, to achieve their suspicious agendas."

The expert in economic affairs, Ahmed Al-Tamimi, confirmed earlier today, Wednesday, that the dollar crisis in Iraq is behind corruption mafias, with political protection from some influential people and parties that are trying to obstruct economic reforms.

Al-Tamimi told "Baghdad Today", "The politically protected corruption mafias were the primary beneficiaries of the dollar crisis and they worked to exacerbate this crisis for their interests and gains, and they are currently working to obstruct any government reforms in the financial and economic sector."

He added, "These mafias have political protection from some influential people and parties, and these parties work politically to create problems so that any government efforts that want reform fail. This is why we see that the dollar crisis is still continuing and ongoing despite all government steps. The parallel market is still witnessing a significant increase." at the official price.

Exchange rates have not stabilized for nearly two years, despite many measures taken by the government in an attempt to control it, all of which failed, due to the existence of political “protection” of the black dollar, according to observers.   LINK

Trade: We Are Close To Joining The World Trade Organization

Economical  03/06/2024   Baghdad: Al-Sabah  Undersecretary of the Minister of Commerce, Sattar Al-Jabri, said yesterday, Tuesday, that the issue of Iraq’s accession to the World Trade Organization is imminent, while he affirmed the current federal government’s efforts to achieve self-sufficiency and not depend on the importer.

Al-Jabri said that the governmental curriculum developed by the Iraqi government is based on a strategy to keep pace with the development taking place in the global economy, as the government signed bilateral international memorandums of understanding in the field of trade and economics. He stressed that "Iraq is seeking to enter the World Trade Organization and the issue is coming soon."

The Iraqi government official spoke about the issue of import and export, saying: There is no trade balance between exported and imported materials, as the monetary mass was going to other countries, and this is what the government is seeking to address. current by relying on self-sufficiency.

At the beginning of 2024, the Kingdom of Saudi Arabia announced its support for Iraq’s accession to the World Trade Organization, especially after the political obstacles that prevented it were removed.   https://alsabaah.iq/92979-.html

The “Black Dollar” Is Protected By Influential Political Parties That Obstruct Economic Reforms

Politics |Baghdad today – Baghdad  Economic expert Ahmed Al-Tamimi confirmed today, Wednesday (March 6, 2024), that the dollar crisis in Iraq is behind corruption mafias, with political protection from some influential people and entities that are trying to obstruct economic reforms.

Al-Tamimi told "Baghdad Today", "The politically protected corruption mafias were the primary beneficiaries of the dollar crisis and they worked to exacerbate this crisis for their own interests and gains. They are also currently working to obstruct any government reforms in the financial and economic sector."

He added, "These mafias have political protection from some influential people and parties, and these parties work politically to create problems so that any government efforts that want reform fail. This is why we see that the dollar crisis is still continuing and ongoing despite all government steps. The parallel market is still witnessing a significant increase." at the official price.

Exchange rates have not stabilized for nearly two years, despite many measures taken by the government in an attempt to control it, all of which failed, due to the existence of political “protection” for the black dollar, according to observers.

Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Tuesday (March 5, 2024) that the government has achieved good success in containing the most dangerous Iraqi economic files represented by reducing the value of dollar prices and limiting its rise again.

Al-Karawi explained to “Baghdad Today” that “the dollar in the parallel markets has for years been a source of wealth for some and a depletion of the country’s resources in various ways, especially with smuggling in a way that threatens Baghdad’s economy and pushes the dinar to collapse repeatedly, which puts pressure on the markets and pushes the country into the maze of sanctions.”

He added, "The government's measures have achieved a glimmer of hope in confronting and containing the most dangerous economic files by reducing the value of the dollar and stopping its rise, even by limited rates, but they have given strength to the dinar and dealt with a good percentage of the smuggling file and seeking to end the dollarization file in the markets and move to electronic payment."

Al-Karawi pointed out, “All the government’s measures face obstacles in different ways because the dollar was and still is the supplier to the deep state and some corrupt people and those who have lived off crises to increase their wealth in various ways,” pointing out that “strengthening the strength of the dinar and closing the smuggling loopholes will harm the interests of many at home and abroad, and thus parties will move.”

"There is a lot to sabotage citizens' joy in the existence of correct economic paths that contribute to saving the economy and pushing it to recovery after lean years."

He continued, "Government measures are moving in the right direction despite the side pressures, but they provide incentives to achieve economic growth and ensure the development of solutions to the issue of smuggling, corruption, and the depletion of hard currency in various ways."

Last Sunday (March 3, 2024), Prime Minister Muhammad Shiaa Al-Sudani confirmed that lowering the exchange rate means giving the dollar to “illegitimate” trade.

Al-Sudani said during his participation in the opening of the activities of the Al-Rafidain Dialogue Forum in Baghdad, “The financial situation in Iraq is at its best and commercial transactions are collected through commercial institutions.”

He added, "We give the student, the patient, the merchant, the contractor, and the investor the dollar at the official rate," pointing out that "the notes recorded on Iraqi banks from the US Treasury are from the time of previous governments."

He pointed out that "economic reform was one of the most important priorities of the government program," noting that "the salaries of employees and retirees constitute the largest cash block in the financial budget."

It is noteworthy that Iraq relies on the platform for selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms for preserving the value of the Iraqi dinar and combating speculative operations in the parallel market.

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on February 6 that “some groups are trying to stay away from the platform for selling foreign currency to evade taxes or customs or the presence of illegal trade,” indicating “the possibility of meeting all requests for the dollar,” adding that “the bank has no problem.” In offering or selling the dollar.

He pointed out that "the bank is in a comfortable position to respond to requests to buy dollars. We have sufficient reserves, and soon we will launch a mechanism to ensure that only real travelers get the dollar."   LINK

Sudanese Reforms Are In “Danger”.. Al-Fatah Alliance Warns Of “Parties” Seeking To “Topple” Them

Politics |Baghdad today – politics  The leader of the Al-Fatah Alliance, Ali Al-Zubaidi, warned today, Wednesday (March 6, 2024), that some parties are seeking to “undermine” the government’s reform steps for political purposes.

Al-Zubaidi said, in an interview with “Baghdad Today”, that “it is no secret to anyone that there are media outlets directed by political parties and external parties, and they always work on political blackmail by targeting all the government’s successes and trying to undermine any reform steps for political purposes.” And personality.”

He explained, "The successes of Sudanese and his government, especially in the file of services and the economy, will push those parties and figures who are losing politically and even popularly to escalate the attack during the next stage in order to spread and implement certain agendas, which may also have external motives."

The Parliamentary Services Bloc had previously called for supporting the efforts of the Sudanese government and providing the appropriate ground for legislation and parliamentary decisions that would contribute to the success of the government’s work and keep it away from all conflicts and political disputes.

The Parliamentary Services and Reconstruction Committee confirmed on Sunday (February 18, 2024) that the current Iraqi government is working to achieve achievements in more than one path and has achieved real and realistic achievements during the past months.

Committee member Madiha Al-Moussawi told “Baghdad Today” that “the Sudanese government has a great interest in achieving reforms and development in the economic, banking and financial sectors,” indicating that “the government has made real achievements in this file during the past months of controlling the dollar exchange rate and electronic dealings.” Cash allowance and many more.

Al-Moussawi added, “The government is very interested in implementing important and strategic projects related to the reality of services and urban development, in addition to providing opportunities for the unemployed by activating the private sector and strengthening investments,

in addition to creating job opportunities through government employment through deletion and creation through budgets,” stressing that “this matter Many graduates touched him, especially those with advanced degrees and top honors.”

Al-Mousawi concluded: “Government work is ongoing and continuous in various paths to achieve achievements according to what is planned in the government curriculum.”

On Thursday (February 15, 2024), Prime Minister Muhammad Shiaa Al-Sudani reviewed the government’s economic and development vision to Dutch businessmen and companies, indicating that Iraq imports goods worth 70 billion dollars annually, and from the Netherlands alone, 500 million dollars annually.

Since taking office in October 2022, Iraqi Prime Minister Muhammad Shiaa Al-Sudani has achieved a record number of policy achievements.

The “Services Government”, which he heads, has completed a set of projects, including the construction of roads, highways and hospitals, the signing of multibillion-dollar agreements to ensure independence in the field of energy, and the completion of an agreement with Tehran to trade gas for oil so that Iraqis can withstand the extreme heat in the summer when temperatures reach... The temperature reaches 50 degrees Celsius, and work with the government to approve the federal budget for three years.  LINK

Provoking Points to Ponder on Decisions 

Faith ... acts promptly and boldly on the occasion, on slender evidence.  - John Henry Cardinal Newman

A decision is an action you must take when you have information so incomplete that the answer does not suggest itself.  - Arthur Radford

She knew in her heart that to be without optimism, that core of reasonless hope in the spirit, rather than the brain, was a fatal flaw, the seed of death.  - Anne Perry

When faith is supported by facts or by logic it ceases to be faith.  - Edith Hamilton

How far would Moses have gone if he had taken a poll in Egypt?  - Harry S. Truman

Better to be without logic than without feeling.  - Charlotte Bronte

The will to be totally rational is the will to be made out of glass and steel: and to use others as if they were glass and steel.  - Marge Piercy

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