Iraqi News Tuesday PM 9-28-21
Iraqi News Tuesday PM 9-28-21
TLM724 Administrator BondLady’s Corner
Alia Nassif Calls For A Reduction In The Dollar Exchange Rate After The Price Of A Barrel Of Oil Exceeded Eighty Dollars
Tuesday 28 September 2021 12:39 | Economic Number of readings: 645 Baghdad / NINA / - Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.
And she said in a statement today: "The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country's dependence on oil revenues only," indicating:
"The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power has become unable to cope with the rise in the prices of food commodities and basic materials."
Nassif stressed "the need for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people."
Today, Tuesday, the price of Brent crude jumped above $ 80 for the first time in nearly three years, amid expectations of rising demand and concerns about supplies as the world slowly emerged from the epidemic crisis.
Brent crude rose 0.8 percent in Asian morning trading to $80.19, its highest level since October 2018, according to "AFP". West Texas Intermediate crude also rose 0.9 percent to $ 76.07. / End 3
https://ninanews.com/Website/News/Details?key=929628
Economic Reform And Sector Restructuring
Wednesday 29 September 2021 43 Baghdad: morning The President of the International Federation of Businessmen in Iraq, Dr. Hamid Al-Aqabi, called for working to restructure the structure of the economy in accordance with the global context, reforming the business environment and creating elements of attraction for the global effort that owns advanced technologies and capital.
And he added in his speech to {Sabah} that {economic reform has become an inevitable step to start the first steps of sustainable development that the country seeks, and that according to advanced economic foundations, by adopting the foundations for its transition from a central economy to a free market economy}, pointing to {the importance of The private sector should have a leading role in the reform process, as well as in development work.
It is mentioned that Article (112) second stipulates that the federal government and the governments of the region and the producing governorates together draw up the strategic policies necessary to develop the oil and gas wealth in a way that achieves the highest benefit for the people, adopting the latest techniques of market principles and encouraging investment.
Article 110 of the Constitution also stipulates that the federal authorities exercise exclusive powers in drawing up economic policy and foreign trade, as well as drawing up trade policy across the borders of the region and governorates in Iraq, setting the state’s general budget, drawing up monetary policy, establishing and managing the central bank, in addition to drawing up a draft general and investment budget. .
Al-Uqabi had indicated that {the private sector has a key role in all societies as it is the cornerstone of their economy, and that private sector projects are capable of eliminating unemployment as it will employ the largest possible number of labor, in addition to that this vital sector will solve many files, including the banking sector} . LINK
The Association Of Private Banks Organizes A Meeting Between The Governor Of The Central Bank And The Heads Of The Boards Of Directors Of Banks
Banks Economy News _ Baghdad The Association of Iraqi Private Banks organized a meeting between the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, and the heads of the boards of directors of banks and authorized managers, to discuss developments in the banking sector.
At the beginning of the session, the head of the Iraqi Private Banks Association, Wadih Al-Handal, welcomed the governor of the Central Bank, Mustafa Ghaleb, and the attendees were heads of bank boards and authorized managers.
On the other hand, the Governor of the Central Bank, Mustafa Ghaleb, praised the efforts made by the Association of Private Banks in developing the banking sector and spreading banking services in all places.
The Governor of the Central Bank said during the meeting that the Central Bank of Iraq and the private banking sector are working within international laws and instructions to combat money laundering and terrorist financing, noting that the Central Bank is working to evaluate the performance of all banks operating inside the country.
The Governor of the Central Bank praised the first merger that took place in the banking sector between QIIB and the First Capital, calling on banks to educate about their services in commercial places, universities and others.
Meanwhile, the head of the Association of Private Banks, Wadih Al-Handal, said that the Iraqi banking sector is witnessing continuous growth day after day, due to the wise policy of the Central Bank of Iraq, adding that private banks are working under the supervision of the Central Bank to implement its strategy to develop the banking sector.
Al-Handal noted that the Central Bank of Iraq is working hard to provide an appropriate environment for banks, in order to increase their branches, services and reach all citizens, with the aim of increasing the percentage of financial inclusion. Views 436 Date Added 09/28/2021 https://economy-news.net/content.php?id=26445
Dollar Exchange Rates In Local Markets
Market Economy News _ Baghdad The dollar exchange rates maintained their stability in the local markets.
Today, Tuesday, the selling prices of the dollar were 147,500 dinars per 100 dollars, while the purchase prices of the dollar were 147,000 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, and 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 384 Date Added 09/28/2021 https://economy-news.net/content.php?id=26442
Adviser To The Prime Minister Announces The Details Of The Chinese Loan And The Projects Funded By It
Money and business Economy News _ Baghdad Adviser to the Prime Minister, Mazhar Muhammad Salih, announced, on Tuesday, the details of the Chinese loan and the projects funded by it, while noting that discussions are continuing to determine the priorities of the projects covered by the loan.
Saleh said in an interview with the Iraqi News Agency, and followed by "Economy News", that "the cooperation framework agreement between Iraq and China has become effective, and took its first course through the legislation of the General Budget Law for the year 2021, when an amount of more than one trillion dinars was approved, implemented through The Chinese loan is guaranteed by the Chinese Agency for Credit and Export Guarantee (Sinosure),
noting that “there are important technological projects in the field of industry and motivating the wheels of the economy that will be financed from the aforementioned allocation contained in the budget law in order to improve its productive efficiency, which means a signal to start the work of the cooperation framework agreement between the two countries ".
He added that "work is still going on to determine the priorities of projects that Chinese government companies can promote in the form of direct implementation contracts in accordance with the best international practices in contracting, and they are financed from the proceeds from the sale of Iraqi oil to the People's Republic of China."
He stressed that "the aforementioned agreement with China provided for allocating revenues of 3 million barrels of oil per month for the implementation of projects by Chinese companies at the request and selection of the Iraqi side in accordance with international standards," noting that "work is underway between consultants and experts in the state apparatus to prioritize projects with prejudice and priority." The first direct impact on the life of the citizen and human development in Iraq.
Views 484 Date Added 09/28/2021 https://economy-news.net/content.php?id=26443
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