Iraqi News Monday AM 12-6-21
Iraqi News Monday AM 12-6-21
TLM724 Administrator BondLady’s Corner
Britain Stresses The Importance Of Banking Cooperation And Providing Technical Assistance To The Central Bank Of Iraq
Monday 06 December 2021 13:54 | economic Number of readings: 259 Baghdad / NINA / - The British Ambassador to Baghdad, Mark Bryson-Richardson, stressed the need for banking cooperation and providing technical assistance to the Central Bank of Iraq, especially in the field of financial digitization.
A statement by the Central Bank stated, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, met today with the British Ambassador in Baghdad, and banking relations and ways to develop them were discussed.
The Governor welcomed the opening of branches of British banks in Iraq and the opening of opposite accounts to facilitate trade exchange between the two countries.
For his part, the ambassador stressed the necessity of Banking cooperation and providing technical assistance to the Central Bank of Iraq, especially in the field of financial digitization.
The ambassador also touched on the white paper document, economic reform and the priorities for implementing this plan, where the governor emphasized the implementation of reforms regarding the automation of border crossings, customs and taxes.
The ambassador praised the new building of the Central Bank, as the governor invited him to attend the opening ceremony of the building upon its completion./ End 8
https://ninanews.com/Website/News/Details?key=943181
The Governor Of The Central Bank Confirms The Implementation Of Automation For Three Government Institutions
Today, Monday, the Governor of the Central Bank, Mustafa Ghaleb Mokhief, confirmed the implementation of automation for three government institutions.
And the media of the Central Bank of Iraq said in a statement, "The Governor of the Central Bank, Mustafa Ghaleb, met the British ambassador in Baghdad, Mark Bryson, and banking relations and ways to develop them were discussed."
He added, "The governor welcomed the opening of branches of British banks in Iraq and the opening of opposite accounts to facilitate trade exchange between the two countries."
The governor stressed the need to "implement reforms regarding the automation of border crossings, customs and taxes."
While the ambassador stressed "the importance of banking cooperation and providing technical assistance to the Central Bank of Iraq, especially in the field of financial digitization," praising the "new building of the Central Bank." https://www.radionawa.com/all-detail.aspx?jimare=26916
The Governor Of The Central Bank Welcomes The Opening Of Branches Of British Banks Inside Iraq
Banks Economy News – Baghdad The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, welcomed the opening of branches of British banks in Iraq.
A statement issued by the Central Bank, received by Al-Iqtisad News, said, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, met the British Ambassador in Baghdad and discussed banking relations and ways to develop them. The Governor welcomed the opening of branches of British banks in Iraq and the opening of opposite accounts to facilitate trade exchange between the two countries. " .
For his part, the ambassador stressed the necessity of banking cooperation and providing technical assistance to the Central Bank of Iraq, especially in the field of financial digitization. The Ambassador also touched on the white paper document, economic reform and the priorities for implementing this plan, where His Excellency the Governor emphasized the implementation of reforms regarding the automation of border crossings, customs and taxes .
The ambassador praised the new building of the Central Bank, as the governor invited him to attend the opening ceremony of the building upon its completion. Views 157, date added 12/06/2021
https://economy-news.net/content.php?id=26903
An Increase In The Central Bank's Sales Of Hard Currency
Economie| 02:38 - 06/12/2021 Baghdad - Mawazine News: The Central Bank of hard currency sales recorded, on Monday, a remarkable increase, to record more than 188 million dollars.
Today, the Central Bank auction for the sale and purchase of foreign currencies witnessed an increase in dollar sales by 4.44% to reach 188 million, and 394 thousand and 282 dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar.
Most of the bank's sales went to enhance balances abroad in the form of remittances and credits, amounting to 143 million and 934 thousand and 282 dollars, while the remaining amount of 44 million and 460 thousand dollars went in cash.
Twenty-six banks fulfilled requests to enhance balances abroad, and 18 banks to meet cash requests, in addition to 198 intermediary companies. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=177536
International Monetary: The Iraqi Economy Is Recovering From A Sharp Downturn
Monday 06 December 2021 267 Washington: Morning A team of International Monetary Fund experts, led by Tokher Mirzoev, held a virtual mission with the Iraqi authorities from November 28 to December 2 to discuss the latest economic developments and prospects, as well as policy priorities for the period And Mirzoev said:
{The Iraqi economy is recovering from the sharp contraction it witnessed last year, supported by the rise in oil revenues and the easing of measures to contain the Covid-19 virus. Vaccination rate. It is expected that the real non-oil GDP will grow by 12% in 2021, and that oil production will gradually rise in line with the agreements OPEC+}.
oil prices
The inflation rate had reached 7.2 percent in September, with expectations of a decline in the coming months, and it is expected that the public finance and current account balances will witness a significant improvement in 2021, from a double-digit deficit in 2020, mainly as a result of the rise in oil prices. The recovery is expected to continue in the medium term but is subject to exposure to significant downside risks, particularly related to the volatility of the oil markets and the repercussions of the COVID-19 pandemic.- 19".
Climate Challenges
He added, “The rise in oil revenues represents an important opportunity to address the major weaknesses in the Iraqi economy, enhance resilience to face climate challenges and other challenges in the future, and move forward with implementing the most important social and economic priorities.
Achieving these goals requires strengthening public funds while creating fiscal space {the spending area from public finance}, for the much-needed investment and social safety nets, as well as working to promote the development of the private sector. Rationalizing energy, diversifying fiscal revenues, stopping losses in the electricity sector, and strengthening governance the rational.”
the financial sector
He pointed out that “improving the coverage and targeting of social assistance provides better protection for the most vulnerable groups, and in addition, the restructuring of large state-owned banks and improving their governance will be of paramount importance in revitalizing the financial sector and ensuring private sector access to financing. The Fund confirms its readiness to support Iraq.” In this Efforts".
The IMF team of experts would like to thank the Iraqi authorities for the frank and fruitful discussions they held with it over a period of time mission. LINK
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad Today, Monday, the dollar exchange rates witnessed stability in the local markets.
And the selling prices of the dollar were recorded at 148.250 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 147.750 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. Views 138 Date added 12/06/2021 https://economy-news.net/content.php?id=26902
External Debt
Monday 06 December 2021 144 Mohamed Sharif Abu Maysam In September 2020, an official government source stated that the country’s public debt amounted to about $133.3 billion, and last August the same source returned to talking about $50 billion in foreign debt, “which increases and decreases according to repayment, with the exception of bonds amounting to approximately $3 billion.”
In mid-April, another government source stated that the total internal and external debts amounted to 113 billion dollars, of which 40 billion dollars were outstanding debts in favor of 8 countries since the eighties and nineties of the last century.
And external debts accumulated due to the war on terrorist gangs of ISIS, and others due to development projects provided by global funds worth 23 billion dollars payable, while the remaining fifty billion were classified as internal debts. Internal debt is classified as debt that is confined to the government financial system and is not related to it by the audience.
Which confused the accounts of some observers about the external debt, and the matter increased confusion when Al-Jazeera website moved in mid-November from the financial advisor to the Prime Minister under the prominent title “Iraq’s external debt has fallen to 20 billion dollars”, which is a really happy matter, and its sweetness increased what the part carried The second of the title {that the year 2022 will be free of financial hardships and restrictions financing}.
Here, the matter seems to need clarification, in conjunction with what the International Monetary Fund announced, last Friday, through a blog by the Director of the International Monetary Fund, Kristalina Georgieva, in which “Cila Bazaar Bashioglu,” Director of the Department of Strategies, Policies and Review at the Fund, participated in, in which she indicated that “the year 2022 will be More difficult for debtor countries, while looming monetary tightening globally}.
It seems that the financial advisor’s reference is related to the size of the debt, which was caused by the war against ISIS and the development projects provided by international funds, which is a debt after 2003 and not to the size of the total external debt.
As for the year 2022 being free of financial difficulties and financing restrictions, which is a happy matter. Indeed, Iraq will recover economically due to the growing demand for oil, and the increase in production proceeds by 400,000 barrels Daily.
The speculations of the global oil market call us to be wary of optimism based on rent, in light of the fluctuations in the markets based on the control of giant companies, which manage the affairs of this commodity and set its price whenever and however they want, which calls us to put in place proactive measures to exploit the expected abundance within the framework sustainable development to get out of the successive hardships that the country has witnessed, otherwise the crows will be a cause for more Religion.
https://alsabaah.iq/58578/%D8%A7%D9%84%D8%AF-%D9%8A%D9%86-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A
To read more current and reliable Iraqi news please visit BondLady’s Corner: