Iraqi News Highlights Monday Evening 1-30-23
Iraqi News Highlights Monday Evening 1-30-23
Tlm724 Administrator Bondlady’s Corner
On One Condition.. A Parliamentary Committee Expects To Present A Supplementary Budget
Political | 03:43 - 01/30/2023 Baghdad - Mawazine News The Parliamentary Oil and Energy Committee expected, today, Monday, to present a supplementary budget if oil prices continue to rise.
Committee member Ali Saadoun al-Lami said, "The oil and gas law did not see the light, although it has been in place since 2007, inside the House of Representatives, then it was returned to the government and was amended and then sent again to the House of Representatives in 2011," explaining, "The law is in In the halls of the House of Representatives and within the committee, however, there is no intention to move for the approval of this law due to disagreements about it.
Regarding budget oil prices, Al-Lami stressed that "the price of a barrel of oil is variable in the budget law," expecting that "a barrel of oil will be calculated in the budget from $60 to $65 per barrel."
And he stated: "If prices continue to rise during this year, it is possible to provide a supplementary budget." https://www.mawazin.net/Details.aspx?jimare=217949
A jump in oil prices in world markets
Economie| 08:28 - 01/30/2023 Follow-up - Mawazine News Oil prices jumped at the beginning of Asian trading, Monday, supported by tensions in the Middle East in the wake of the drone attack in Iran, and Beijing pledged at the weekend to promote a recovery in consumption that will support fuel demand.
Brent crude futures rose 54 cents, or 0.6%, to $87.20 a barrel. US West Texas Intermediate crude recorded $80.22 a barrel, up 54 cents, or 0.7%.
https://www.mawazin.net/Details.aspx?jimare=217912
The Governor Of The Central Bank Briefs The Presidency Of Parliament On A “Financial Plan” To Control The Exchange Rate
Money and business Economy News-Baghdad On Monday, the Governor of the Central Bank, Ali Al-Alaq, briefed the Deputy Speaker of the House of Representatives on a “financial plan” that he said he would work on to control the exchange rates of the dollar and prevent financial speculation.
A statement by the media office of the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, stated that the latter "stressed, during his meeting with the Governor of the Central Bank of Iraq, Ali Al-Alaq, that financial stability - especially the dollar exchange rate - must return to the Iraqi markets soon."
Al-Mandalawi stressed the necessity of "compliance with the legal procedures for financial transfers, and protecting the Iraqi economy from previous violations," stressing "the need to implement global procedures, follow up on transfers and the work of private banks and exchange companies, and pursue all abuses according to the Iraqi laws in force in implementation of the obligations of the Central Bank of Iraq."
The First Deputy listened to an extensive explanation from Al-Alaq on “the financial and control plan that the Central Bank of Iraq will work on, to control dollar exchange rates, prevent financial speculation, and follow up on suspicious purchases of hard currency that are intended to harm the national economy.” https://economy-news.net/content.php?id=32172
The Central Bank Is Developing A Control Plan To Control The Exchange Rates Of The Dollar
Monday, January 30, 2023 12:08 PM Baghdad / National News Center Today, Monday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, announced the development of a financial and supervisory plan to control the exchange rates of the dollar.
A statement by the First Deputy Speaker of the House of Representatives, received by the National News Center, stated that “Al-Mandalawi stressed, during his meeting with the Governor of the Central Bank, the necessity of returning financial stability, especially the dollar exchange rate, to the Iraqi markets soon,” stressing the “necessity” of adhering to the legal procedures for financial transfers. And protecting the Iraqi economy from previous violations.
Al-Mandalawi stressed the need to implement global procedures, follow up on transfers, the work of private banks and exchange companies, and pursue all abuses according to the Iraqi laws in force, in implementation of the obligations of the Central Bank of Iraq.
The First Deputy listened to an “extensive explanation of the relationship to the financial and control plan that the Central Bank of Iraq will work on, to control dollar exchange rates, prevent financial speculation, and follow up on suspicious purchases of hard currency that are intended to harm the national economy.” https://nnciraq.com/183277/
(Corrected) It Was Preceded By An American Negotiation.. An Iraqi Tendency To Adopt The Price Of The Dollar At 1460 Dinars In The Budget
Posted On2023-01-30 By Sotaliraq Correction: In the initial version of the news, it was mentioned that the price of the dollar was suggested at 164 dinars, and the flour is 146 dinars.
Representative Firas Al-Maslamawi revealed, on Monday, that the Iraqi government and the House of Representatives have a tendency to adopt the exchange rate of the dollar at 1460 dinars in the current year’s budget, while indicating that there is an intention to negotiate with the American administration to control the price of the dollar.
Al-Maslamawi said, “The Iraqi Parliament hosted the dismissed governor of the Central Bank, and his answers about decreasing the dollar were unclear, and he did not fulfill his promise when he pledged to return the dollar to its previous price within days.”
He added, "Therefore, the parliament's recommendation was to relieve him of the position, and this matter was actually done, and it is a correct government procedure, and a practical step towards controlling the exchange rate of the dollar and reducing it for the benefit of the Iraqi people."
The deputy revealed, “There is a second step by the government to reduce the dollar, which is negotiating and establishing a balance with the United States of America, especially with the US Federal Bank, and that the application of the electronic platform well gave positive indications to the Federal Bank that the government’s measures are in the right direction.”
Al-Maslamawi continued, "Therefore, there will be control over reducing the exchange rate of the dollar, and there is another measure by the government and the House of Representatives, which is approving the exchange rate of the dollar at 146,000 dinars in the 2023 budget, and this step will contribute to reducing the exchange rate of the dollar."
On January 26, well-informed Iraqi political sources revealed an undeclared goal for Prime Minister Muhammad Shia' al-Sudani's visit to France.
The sources said, “The visit to France also aims to request Paris’ mediation between Iraq and the United States of America, on the issue of the dollar crisis, which has begun to worry the Sudanese and his government greatly, and raises the fears of the coordination framework that this crisis may topple the government quickly.”
The government measures taken by Prime Minister Muhammad Shia al-Sudani did not succeed in stopping the huge rise in the exchange rate of the dollar, as Iraqi stock exchanges still recorded more than 161 thousand dinars compared to $100.
And before that, the spokesman for the Islamic Supreme Council, Ali Al-Difai, revealed that “a leading delegation from the Iraqi Ministry of Finance and the Central Bank of Iraq will visit the United States of America in the coming days in order to discuss the US Federal Reserve’s policy and give an appropriate opportunity of time so that Iraqi banks can adapt and deal with The new banking system.
The US ambassador to Iraq, Alina Romanowski, says that the United States does not set the exchange rate for the dollar and has not imposed sanctions on new Iraqi banks.
And the Iraqi currency lost about 10% of its value, as the Wall Street Journal says in a report it published a few days ago, after procedures related to imposing compliance rules on the Central Bank of Iraq’s dealings with currency dealers in relation to the US dollar. LINK
Mandalawi To The Governor Of The Central Bank: Financial Stability Must Return To The Markets Soon
Monday 30 January 2023 12:14 | Economical Number of readings: 340 Baghdad / NINA / - First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, affirmed that financial stability - especially the exchange rate of the dollar - must return to the Iraqi markets soon, stressing the need to adhere to legal procedures related to financial transfers, and to protect the Iraqi economy from previous violations.
And the First Deputy stressed, during his meeting with the Governor of the Central Bank, Ali Al-Alaq, today, Monday, the need to implement international procedures, follow up on transfers, the work of private banks and exchange companies, and pursue all abuses according to the Iraqi laws in force, in implementation of the obligations of the Central Bank of Iraq.
The First Deputy listened to an extensive explanation of the relationship to the financial and control plan that the Central Bank of Iraq will work on, to control dollar exchange rates, prevent financial speculation, and follow up on suspicious purchases of hard currency that are intended to harm the national economy./ End https://ninanews.com/Website/News/Details?key=1029970
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