Iraqi News Thursday AM 1-6-22
Iraqi News Thursday AM 1-6-22
TLM724 Administrator BondLady’s Corner
Deputy Mustafa Sanad Reveals The Amount Of Money Owed By The Iraqi Government As Internal Debts
Posted On 2022-01-06 By Sotaliraq Representative, Mustafa Sanad, revealed the size of the financial sums owed by the current government as internal debts, which witnessed a remarkable increase during the past year compared to the amounts of printed cash.
Sanad said, "Iraq's internal debt rates rose during the current government period from 37 trillion Iraqi dinars to 68 trillion Iraqi dinars in just a year and a half."
Sanad pointed out that "the amount of cash printed during the same period increased from (57) trillion dinars to (78) trillion Iraqi dinars." LINK
The President Of The Republic And The American Ambassador Affirm The Easing Of Tensions In The Region
Political | 04:02 - 06/01/2022 Baghdad - Mawazine News, President of the Republic, Barham Salih, received today, Thursday, January 6, 2022, the US Ambassador to Iraq Matthew Tueller.
The meeting discussed the bilateral relations that unite the two countries and their strengthening in various political, economic, cultural and environmental fields through the existing strategic dialogue between the two countries.
The meeting also dealt with developments on the regional arena of mutual interest, stressing the need to establish peace in the region and ease the tensions surrounding it through dialogue, and the importance of Iraq's pivotal role in the region. https://www.mawazin.net/Details.aspx?jimare=180775
Dollar Exchange Rates In Local Markets
Market Economy News _ Baghdad The exchange rates of the dollar fell, today, Thursday, in the local markets.
And the selling prices of the dollar were 148,000 dinars per 100 dollars, while the purchase prices of the dollar were 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 182 Date Added 01/06/2022 https://economy-news.net/content.php?id=27074
Iraqi Oil Exports Rise In December By 0.5%
Energy Economy News _ Baghdad Total Iraqi oil exports, including quantities from the Kurdistan Region, increased by 0.5% in December 2021 to reach 3.677 million bpd from 3.660 million bpd in November.
And plats s&p Global said that Iraq's oil exports amounted to 3.277 million barrels per day in December, up from 3.273 million barrels per day in October, while Kurdistan Region's exports increased to 400,000 barrels per day, an increase of 3.3% from November.
Iraq's share of OPEC + rose to 4.237 million barrels per day in December from 4.193 million barrels per day in November as the 23-member alliance continued to add 400,000 barrels per day per month as planned under the July agreement, while Iraq's quota for the month of January 4.281 million b / y.
Iraqi exports from southern Gulf ports declined to 3.180 million b/d in December from 3.195 million in November, while Kirkuk exports through Ceyhan rose to 87,000 b/d from 68,000 b/d in November and trucked oil remained to Jordan steady at 10,000. b/d. Exports of Qayyarah heavy oil from the southern port of Khor Al Zubair remained halted in December.
Federal exports from the Gulf Federal Ports included 901,000 barrels per day of Basrah Light Medium grade 31-33 API grade, 1.195 million barrels per day of Basrah Medium grade 27-29 API grade which is a new grade introduced in January 2021, and 1.084 million barrels per day per day from Basra Heavy with an average quality of 23-24 API grades, according to figures from the State Oil Marketing Organization seen by Platts.
To meet the increase in Basra Medium exports, SOMO last year transferred the fixed berths of the Basra Oil Terminal to handle Basra Medium only, while the Basra Light export was transferred to SPMs along with loads of Basra Heavy.
The level of the federal stockpile of Kirkuk oil destined for export from Ceyhan reached 659,000 barrels at the end of December, up from 582,000 barrels in November, and stocks in the south amounted to 3.470 million barrels, compared to 2.930 million barrels at the end of November. .
Reports of shipping agents showed that Kurdish oil stocks in Ceyhan fell to 2.3 million barrels in December from 2.4 million in November. Views 207 Date Added 01/06/2022 https://economy-news.net/content.php?id=27072
Fitch: Unemployment Has Risen In Three Arab Countries, Including Iraq
Money and business Economy News _ Baghdad The credit rating agency, Fitch, reported that three Arab countries, including Iraq, experienced an increase in unemployment with the advent of the Covid-19 pandemic, which worsened the situation in them.
Fitch said; Youth unemployment and the lack of economic opportunities for them with a growing population represents a major policy challenge and a threat to political and social stability in most countries in the Middle East and North Africa.
She pointed to the growth of demographic challenges since the outbreak of the events of the Arab Spring (2010-2011), which partly reflects the grievances of young people who are deprived of their rights, indicating that with the advent of the Covid-19 pandemic, conditions have worsened, and the already high unemployment rates have increased in Iraq, Jordan and Morocco.
Fitch added in a report seen by Shafak News Agency; The growth of real GDP per capita was weak in all countries of the region except for Egypt and Morocco, and labor force participation rates declined, in a trend that preceded the spread of Corona in Egypt, Morocco and Jordan.
It showed that demographics has a multi-faceted impact on sovereign ratings, as high population growth rates promote growth and thus exert a downward force on government debt dynamics, as is the case in Egypt. It leads to high unemployment rates and stagnant living standards, which increases the risks of social and political instability.
She explained that the need to contain social stability risks often leads to increased government spending on public sector employment and provision of subsidies, which leads to wider deficits and a tighter spending structure, noting that this approach succeeded in containing youth unemployment in Tunisia to some extent over the decade. The past, but culminated in debt sustainability and politically intractable financing challenges.
Views 214 Date Added 01/06/2022 https://economy-news.net/content.php?id=27073
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