Iraqi News Monday Evening 7-25-22

Iraqi News Monday Evening 7-25-22

TLM724 Administrator BondLady’s Corner

A Deputy For The Framework Reveals The Latest Developments In The File Of Reducing The Dollar Exchange Rate

07/18/2022    99  Earth News/ Representative of the Coordination Framework, Aref Al-Hamami, confirmed today, Monday, that  there is a real seriousness to change the dollar exchange rate during the coming period.

Al-Hamami told "Earth News", "Representatives from the various political blocs are serious about changing the dollar exchange rate during the coming period," stressing that "this matter is not aimed at the sympathy of citizens, but rather there is a real intention to achieve this goal."

And Al-Hamami stated that “changing the exchange rate of the dollar is within the authority of the executive authority (the government), and for this --  we will work through the new government to amend the exchange rate, especially since there is no financial need to raise this price with the significant rise in oil prices in the global market.”   https://earthiq.news/archives/114081

Parliament Receives An Official Request For Parliamentary Signatures To Interrogate Al-Kazemi

Monday 25 July 2022 16:51 | political Number of readings: 146

Baghdad / NINA / - The Presidency of the House of Representatives received an official request, accompanied by the signatures of 39 deputies from different blocs, to question the caretaker Prime Minister, Mustafa Al-Kazemi, because he did not attend the session to discuss the Turkish attacks on Iraqi lands, which Parliament held yesterday, Sat https://ninanews.com/Website/News/Details?key=989740

Oil Continues Its Losing Streak

Economie| 08:42 - 25/07/2022    Follow-up - Mawazine News: Oil prices fell today, Monday, to continue the recent series of losses, amid fears that an expected rise in US interest rates would weaken demand for fuel.

Brent crude futures for September settlement fell 75 cents, or 0.73 percent, to $102.45 a barrel by 04:43 GMT, down for a fourth day.

US West Texas Intermediate crude futures for September delivery fell 82 cents, or 0.87%, to $93.88 a barrel, also down for a fourth day. Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=200377

The Rise In The Exchange Rate Of The Dollar

Economie| 10:20 - 25/07/2022   Baghdad - Mawazine News, the dollar exchange rates rose, today, Monday, on the Iraqi Stock Exchange.  Selling price: 148,600 dinars per $100,    buying price: 148,500 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=200391

Iraq Is Among The Largest Foreign Holders Of US Treasury Bonds

Economy     Iraq    breaking    US bonds   2022-07-25 06:34   Shafaq News/ The US Treasury Department announced, on Monday, that

Iraq has become one of the major foreign holders of US Treasury bonds.  The Treasury said in its latest schedule, seen by Shafak News Agency, that

"Iraq has become among the 35 largest countries that have possession of US Treasury bonds than those that have bonds with a value of more than 30 billion dollars."  And she added,

"Iraq's possession of these bonds amounted to 32.9 billion dollars for the month of May, an increase of 36.51 percent over the month of January of 2022, and an increase of 57.42 percent over the same month of last year 2021."   She pointed out that

"Iraq was the fourth largest Arab country in terms of the value of bonds after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest value of these bonds, followed by China second and the United Kingdom third," indicating that

the total US bonds owned by the countries of the world amounted to 7 trillion. and $421 billion.

https://shafaq.com/ar/اقتصـاد/العراق-بين-اكبر-الحا-زين-ال-جانب-لسندات-الخزانة-ال-مريكية

A Window On The Formation Of Sources Of Income For The Prospective Sovereign Fund / Prospective National Welfare Funds In Iraq

Aqil Jaber Ali Al-Mohammadawi / researcher in financial and development affairs

With a careful research look at some successful international practical experiences within the practices of sovereign funds in China and the Russian Federation, they can be used in the maturation of the model for forming the structure of the National Sovereign Fund in Iraq and extracting the following ...

The importance of focusing methodologically and practically to contain and enable the shift from scientific theorizing to the reality and methodology of the financial and economic model to form the applicable sovereign fund (National Welfare Fund), which is the biggest challenge and in parallel we think about who is the institutional and specialized body responsible for forming and formulating the structure of the Iraqi sovereign fund in a way Real and realistic methodologically, structurally and institutionally in the reality of institutional work away from non-productive and practically unproductive theorizing, and who are the scientific and professional bodies, personalities and mentalities that should exist and participate in a real and without dispensation from them to form, build, devote and mature the structure, model and methodology of the Sovereign Fund !

Sovereign funds can be created and formed from the surpluses of the federal public budget, surpluses of government revenue from the activities of companies whose assets occupy a large share, revenue from certain tax savings, including foreign exchange reserves of central banks, and international trade surpluses. This, for example, is how money is made in China .

Sovereign funds, representing the state, dispose of national savings, invest them in funds of various companies and other financial instruments, in particular, in stocks, bonds and funds of foreign countries. In principle, the foreign exchange reserves of the Fund are used differently from the official reserves of the government. Specifically, the state usually has two other schemes for investing financial resources :

A central bank that invests mainly in bonds, and state-owned companies that invest their money in private equity. But the resources of the last two institutions can also be transferred by the state to sovereign funds .

Sovereign investment funds, owned by the governments of sovereign countries, manage state rental income (the public domain) and budget surpluses. Each sovereign fund seeks to increase its potential and capabilities by investing in various national and international financial instruments .

If the main goal of pension funds is to ensure the financing of pension obligations, then sovereign accumulation funds pursue various goals, such as: pooling savings for future generations, promoting the implementation of social and economic projects, and protecting the economy from fluctuations.

In commodity prices, to promote restructuring and scientific and technical development. This management of national wealth in the name of developing society and the state as a whole can be considered a new type of modern international economic approach based on the formation of national welfare funds. It opens new horizons for organization, planning and macroeconomic methodology .  Views 132   Added 07/25/2022 - Update 07/25/2022 - https://economy-news.net/content.php?id=29002

An Economist Stresses The Importance Of Developing Orchards To Reduce The Effects Of Climate Change And Combat Desertification

Monday 25 July 2022 10:15 | Economic Number of readings: 330   Baghdad / NINA / - An expert in economic affairs, Raad Twij, stressed the importance of encouraging tree planting and orchard development to reduce the effects of climate change and combat desertification.

In a statement to the National Iraqi News Agency ( NINA ), Twig said : "In order to stand up to climate changes, combat desertification, dust and water shortages, and reduce migration processes resulting from these changes, especially in the marshlands, the agricultural sector must be encouraged, through the activation and revitalization of the Cooperative Agricultural Bank, and increase Granting loans at discounted prices and with new agricultural management and production methods.

He added, "Encouraging the agricultural sector will help establish sustainable and deliberate agricultural development, develop orchards, modern methods of spraying, use mechanization methods, and develop animal production."/ End     https://ninanews.com/Website/News/Details?key=989667

The Results Of The Foreign Currency Sale Window, Tuesday 7/26/2022

Advertisement No. (4690)  Sale date - Tuesday 7/26/2022  the details   the amount

Total sale for the purposes of strengthening balances abroad (remittances, credits)  205,475,917

Total cash sale  45,550,000   total total sales  251,025,917

Note that: The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar. The cash sale price is ( 1460 ) dinars per dollar.

» The Central Bank of Iraq’s foreign currency sales schedule, Tues 7/26/2022  https://cbi.iq/currency_auction

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