Iraqi News Tuesday AM 12-29-20
Iraqi News Tuesday AM 12-29-20
TLM724 Administrator BondLady’s Corner
Representative Economy: The World Bank Seeks To Raise The Exchange Rate Of The Dollar More Than It Is Now
The Baghdad Post Tuesday, December 29, 2020 03:49 PM Member of Parliament's Economic and Investment Committee, Nada Shaker Jawdat, said today, Tuesday, that the World Bank is seeking to increase the exchange rate of the dollar against the Iraqi dinar. "The World Bank wants to increase the exchange rate of the dollar against the Iraqi dinar, more than the current price," Jawdat indicated.
"But this matter is rejected by parliament, and we will not accept any new increase, whatever the reasons," she added.
Jawdat indicated, “The World Bank, and even the International Monetary Fund, submitted a proposal before the government of Mustafa Al-Kazemi raised the price of the dollar recently, but these international bodies want to raise the price further, and this matter harms the living situation of the Iraqi citizen, especially with the high percentage Poverty and unemployment in the country. LINK
The Dollar Is Rising In Iraq And Central Bank Sales Are Falling
Time: 12/29/2020 11:44:16 Read: 12,662 times {Baghdad: Al Furat News} The exchange rates of the dollar in Iraq rose today, Tuesday. The exchange rate in the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad reached 1430 dinars, or 143,000 dinars for one hundred dollars, which is the same price in Basra Governorate, while it reached 1428 dinars in Erbil. Yesterday's price in Baghdad was 1419 dinars.
As for the exchange offices' prices, they amounted to 1440 dinars for sale and 1420 dinars for purchase.
While the Central Bank of Iraq sales of dollars fell, in an unprecedented way, today, Tuesday.
According to the bank's daily bulletin on the currency auction, the total sale for the purposes of strengthening the funds abroad {transfers, credits} amounted to 14 million 847 thousand and 993 dollars, while the cash sale was only 200 thousand dollars. While the total total sales were 15 million 47 thousand and 993 dollars.
Yesterday's foreign currency auction sales were $ 34 million.
The central bank sells dollars for the sums transferred to bank accounts abroad at a price of {1460} dinars per dollar, and cash sales at {1460} dinars per dollar, in implementation of its recent decision to raise the exchange rate. LINK
The High Exchange Rate Of The Dollar In The Iraqi Market
Pratha News Agency85 2020-12-29 The exchange rates of the dollar increased in the main stock markets and local markets, today, Tuesday (December 29, 2020)
The Kifah Stock Exchange recorded 143,100 dinars against 100 US dollars, while the exchange rates for Monday on the Kifah Stock Exchange were 141,900 dinars per 100 dollars.
As for the exchange rate in the local market, it also rose, as the selling price was: 144,000 dinars per 100 dollars. The purchase price is 142,000 dinars per 100 dollars. http://burathanews.com/arabic/economic/383418
The Central Bank's Dollar Sales Are Down For The Third Day In A Row
Editing date: 12/29/2020 14:44 • 76 times read [Baghdad-Where] Central Bank sales recorded, on Tuesday, for the third consecutive day a decline of more than 55%.
According to the central bank's daily bulletin, "the bank witnessed during its auction for the sale and purchase of foreign currencies today a decrease in its sales by 55.89% to reach 15 million, 47 thousand and 993 dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar."
The request was distributed by 14 million and 847 thousand 993 dollars to enhance the funds abroad in the form of transfers and appropriations, while the rest of one million and 200 thousand dollars was distributed in the form of cash sale that was fully covered by the bank at an exchange rate of 1460 dinars per one dollar.
While the Central Bank's daily bulletin indicated that 10 banks and one brokerage company united in the currency auction, and had not made any offers to sell the dollar.
http://www.alliraqnews.com/modules/news/article.php?storyid=105687
Ministry Of Planning: 583 Thousand Dinars, Average Monthly Iraqi Income Per Capita During 2020
Spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, «Economy News»
Money and business Economy News – Baghdad The Ministry of Planning revealed, on Tuesday, that the average Iraqi income per capita in 2020 amounted to 7 million dinars (583 thousand dinars per month).
Ministry spokesman Abdul Zahra Al-Hindawi said in a statement reported by "Shafaq News" and reviewed by "Al-Iktissad News", that "the average annual per capita income is calculated by dividing the gross national product by the population of the country," indicating that the average per capita income does not necessarily mean that All members of society receive the same income. "
He added that "the average annual income per person in Iraq during the current year 2020 amounted to between 6 to 7 million dinars."
On the other hand, Al-Hindawi considered that "inflation does not necessarily have to be high during the current month of December as a result of the high exchange rate of the dollar because the currency in circulation is present itself in the markets and has not witnessed a change in its size, and the level of investments is still the same and therefore not necessarily higher prices lead to Inflation if trading with the same monetary mass traded in the market. "
And the Ministry of Planning announced, yesterday, Monday, that the poverty rate in the country has reached 32%, with the start of the Corona virus pandemic. Number of observations 57, date of addendum 12/29/2020 https://economy-news.net/content.php?id=23365
Association Of Private Banks: The Central Bank Works To Revitalize The Economy After Changing The Exchange Rate Of The Dinar
Banks Economy News – Baghdad The Iraqi Private Banks Association announced that the decision to change the exchange rate of the dinar against the dollar, taken by the government, is part of reform packages for the economy, which is going through a stifling financial crisis due to its dependence on oil and disruption of other productive sectors.
The association said in a press release seen by "Al-Eqtisad News", that the Iraqi Private Banks Association supports the monetary policy measures taken by the Central Bank, which aim to revitalize the economy through the lending initiative represented by 5 trillion dinars to support large industrial, agricultural and real estate projects in addition to the 1 trillion dinars initiative.
To support small and medium industrial and agricultural projects, which will contribute to supporting the local product and creating factories that can attract the unemployed, as well as his recently announced 3 trillion dinars initiative to support the residential sector, which will include non-employees in the public sector.
The Association of Private Banks confirmed that the economy has reached a very difficult stage, represented by the erosion of oil revenues, and its spending on salaries in addition to the government borrowing huge sums of money to support the operating budget, without creating real economic development, and the country’s dependence of a very large percentage on imports, which required taking important measures.
To support the Iraqi productive sectors to confront the commodity dumping carried out by some countries, especially since the economy has become unable to attract people who are able to work in its public and private sectors.
Number of observations 252 Date of addendum 12/29/2020 https://economy-news.net/content.php?id=23357
Association Of Banks: The Central Initiative Has Supported Thousands Of Projects
Tuesday 29 December 2020 36 Baghdad: Al-Sabah announced that the Iraqi Private Banks Association announced that 42 private and government banks granted loans in the amount of more than 329 billion dinars as part of the one trillion initiative launched by the Central Bank to the commercial, residential, service and agricultural sectors.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a press statement, that «the Central Bank of Iraq launched an initiative to support small and medium enterprises and allocated an amount of one trillion dinars to the banks», explaining that «this initiative contributed to support thousands of small, medium and residential enterprises».
Interest rate of 3.5 percent
He pointed out that "the initiative continues and gives loans to citizens at an interest of 3.5 percent when the loan amount is less than 20 million dinars, and 4 percent when the loan ranges between 21 million dinars to one billion dinars," explaining that "the initiative was granted through 42 private and government banks until one day." December 15, 2020, loans worth 329 billion dinars.
The residential sector
Tariq emphasized that «the agricultural sector had its share of loans 6.84 billion dinars, the industrial 46.57 billion dinars, the commercial 100.5 billion dinars, the service 86.15 billion dinars, the housing 48.52 billion dinars, while there are loans in the grant stage of 40.5 billion dinars», noting that «the loans allocated to the residential sector It is 100 million dinars, with a 4 percent diminishing interest, and a repayment period of 15 years.
Tariq pointed out that «the initiative to lend 1 trillion dinars to citizens, is still continuing to stimulate the economy and on easy terms, and the application is through the banking sector directly and granted after studying the feasibility of the project». LINK
Speaker Of Parliament Announces The Extension Of The Legislative Season
12/29/2020 Parliament Speaker Muhammad al-Halbousi announced today, Tuesday, the extension of the current legislative term for a period of one month.
His Excellency said: The House of Representatives extends its first legislative term of the third legislative year for a period of one month, in order to complete many important legislations for the next period, including the draft Federal Budget Law for the fiscal year 2021, which arrived today in the House of Representatives.
========== The Media Office of the Speaker of Parliament, December 29, 2020 LINK
Barzani To Baghdad To Sign The Agreement That Qubad Talabani's Delegation Concluded With Al-Ittihadiya
Prime Minister Mustafa Al-Kazemi and regional president, Masrour Barzani
Money and business Economy News – Baghdad The President of the Kurdistan Region, Nechirvan Barzani, intends to visit the capital, Baghdad, to sign the agreement that was concluded by the Vice President of the Kurdistan Government, Qubad Talabani, with the federal government on the outstanding issues between Baghdad and the region.
The official of the Kurdistan Regional Government’s representation in Baghdad, Faris Issa, said in a statement reported by the Nass website and followed by “Economy News”, “A political delegation headed by Nechirvan Barzani, head of the Kurdistan Region, was scheduled to visit Baghdad before the end of this year, but the date of the visit is It may be postponed until the beginning of the new year. "
Issa stressed: "The delegation accompanying the region’s president will be a political delegation from the political spectrum in Kurdistan."
He added, "The aim of the visit is to support the agreement reached by the delegation of the region during the past few days with the federal government to solve the outstanding problems between Baghdad and Erbil and to overcome obstacles."
The Kurdistan region of Iraq has been suffering from a stifling economic crisis since 2016 due to declining oil prices and the war on "ISIS". The region's employees have not received their salaries for months due to differences between the federal government and the regional government. Number of observations 88 Date added 12/29/2020 https://economy-news.net/content.php?id=23369
Cabinet Votes On Several Energy Projects
Council of Ministers headed by Mustafa Al-Kazemi Energy Economy News – Baghdad Government spokesman and Minister of Culture Hassan Nazim announced, on Tuesday, the completion of procedures with the "Pfizer" company to import the Corona vaccine, confirming that the Cabinet voted on a number of projects, including the Hilla sewer project, and the Ministry of Transport proceeded to contract the construction of two ships .
Nazem stated during a press conference, "The current government does not envisage escalation and that it has dealt with security challenges with patience and wisdom," noting that "the Minister of Health confirmed the completion of procedures with Pfizer to import the Corona vaccine ."
He added, "The Council of Ministers voted to continue the implementation of the Hilla sewage project, as well as to proceed with the Ministry of Transport by contracting to build two ships ."
On the budget law, Nazim said, "The 2021 budget is the beginning of the implementation of the comprehensive reform plan," stressing that "the numbers in the budget are not subject to only one fiscal year ."
And he indicated that "no one budget or one year can fix the repercussions of previous years," noting that "the white paper is the beginning of the desired reform ."
He added, "The government deals wisely and patiently with security and economic crises," explaining that "the cabinet voted to support the implementation of the southern refinery project by a Japanese company ."
He continued, "The Council of Ministers voted to address the Nasiriyah refinery project," explaining that "the Halfaya gas project will enter service in 2022. "
Nazim confirmed that "the cabinet voted to support the implementation of the southern refinery project," noting that "discussions with Iranian delegations focused on security and economic aspects."
Number of observations 1 Date of addition 12/29/2020 https://economy-news.net/content.php?id=23372
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