Monday Evening Iraq Economic News Highlights 8-21-23
Monday Evening Iraq Economic News Highlights 8-21-23
An Economic Institution: The Government Should Stop Following The Dollar In The Parallel Market
08/21/2023 Earth News / The head of the Future Iraq Foundation for Economic Studies, Manar Al-Obeidi, called today, Monday, on the government to stop following the dollar prices in the parallel market. Al-Obeidi told Earth News Agency, "The state must control the prices of inflation rates and various materials and commodities, not the exchange rate of the dollar in the parallel market.
And he added, “The Iraqi citizen, in the end, what matters to him is the rise or fall that occurs in various commodities, specifically basic ones, such as foodstuffs and fuel, in addition to consumer and luxury goods and materials.
And he indicated that “despite the high exchange rates of the dollar against the dinar, the prices of goods and materials and inflation rates did not change much, according to a report issued by the Ministry of Planning, as inflation rates decreased in the previous months, which indicates a decline in prices or their lack of a significant increase.” https://earthiq.news/archives/270495#hathalyoum
An Economist Who Pledges To Control The Exchange Rate Of The Dollar By Taking Practical Technical Measures
Today 08:45 Information / Baghdad... Economic affairs researcher Muhammad al-Saadi pledged, on Monday, to controlling and controlling the exchange rate of the dollar in the parallel market by taking practical technical measures without resorting to methods of arrests or the use of force.
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Al-Saadi told Al-Maalouma, "The responsible authorities are working to pursue speculators by applying the law against those who want to harm the Iraqi economy, as well as being a first step to ensuring that the differences between the official and parallel market are eliminated."
He added, "The need has become urgent to take decisions related to technical and financial aspects, which would expand the outlets for selling the currency and allow citizens to buy in limited quantities by setting restrictions or preconditions."
And he indicated that "the problem of exchange and high prices is often suffered by the citizen before the merchant, as the merchants began to go to the official platform to obtain the dollar, while the citizen is still suffering in obtaining the dollar, especially since some citizens go to car showrooms and face difficulty in buying in the currency of the dollar." .
He pointed out that "the government can open a window to sell the dollar to anyone who wants to get a car, provided that he comes with an official purchase contract to hand it over to outlets or approved banks to sell the dollar as a document in exchange for obtaining hard currency." LINK
]Money Laundering Is Linked To US Sanctions
Written By: Social Baghdad 20-08-2023 Parliamentary circles linked the money laundering file to the US sanctions file, stressing that quite a few corrupt Iraqi companies and personalities resorted to bulldozing orchards and turning them into residential complexes.
Representatives mentioned that owners of suspicious money resort to fraudulent methods inside the country to launder money, by searching for proposals or options to become clean money, indicating that residential complexes or commercial projects are two options for money laundering, as it is easy for the investor to finance the project with suspicious money, and waits for his profits after Buying residential units or commercial complexes from citizens. LINK
Al-Bayati Rules Out Passing The Oil And Gas Law In A Way That Meets The Ambition Of The Region
Today 12:17 Information / Baghdad.. Former MP Jassim Al-Bayati ruled out passing the oil and gas law in a way that meets the ambition of the Kurds in the region, indicating that the Kurdish forces are still negotiating and procrastinating to delay passing the law.
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Al-Bayati told Al-Maalouma, "The negotiations on the oil and gas law will not reach any good stages, as the opportunity that the Kurds got in 2008 when this law was sent will not be repeated at the present time."
He added, "The Kurds rejected the law in the aforementioned year, despite a vote on it within the Council of Ministers, and preparations for its passage in Parliament, and therefore it is impossible for the law to return again to be in the interest of the Kurds."
And he indicated that "the Kurds are calling today for the oil and gas law, but the demand is conditional that the aforementioned law be in their interest, far from consensus or passing by a numerical majority within the House of Representatives, and it is better for them to return to the old law, otherwise the results will be bad for them." LINK
The Decline In Dollar Prices In Baghdad And Kurdistan
2023-08-21 Shafaq News/ The exchange rates of the US dollar decreased against the Iraqi dinar today, Monday, in Baghdad markets, and in Erbil, the capital of Kurdistan Region.
Shafaq News agency reporter said that the two central stock exchanges of Al-Kifah and Al-Harithiya in Baghdad recorded this morning, an exchange rate of 153,000 Iraqi dinars for 100 US dollars, while the selling prices yesterday morning, Sunday, were 154,000 Iraqi dinars for 100 dollars.
As for the dollar prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 154,000 dinars, while the purchase price reached 152,000 dinars for every 100 dollars.
In Erbil, the capital of the Kurdistan Region, the stock market also recorded a decrease, as the selling price reached 153,600 dinars, and the purchase price reached 153,500 dinars for 100 dollars. LINK
Economist: If The Car Market Is Controlled, The Real Estate, Gold And Medicine Market Will Be Controlled
Economy News-Baghdad Economic expert Safwan Qusay said, on Monday, that the process of controlling the sale and purchase of cars will be a window to control the real estate, valleys and gold markets in Iraq.
Qusai explained in an interview with his “newspaper”, which is affiliated with “Al-Iqtisad News”, that “the process of controlling the exchange rate requires that all types of cars be sold inside the Iraqi market in Iraqi dinars, and that they be imported by companies and even individual importers through the platform, and cars are not allowed to be registered in departments.” passage unless they obtain confirmation that the import process has taken place through the electronic platform.”
He added, “There is supposed to be a commitment and control over car showrooms in all governorates, including the Kurdistan region, to comply with the sale of cars in Iraqi dinars.”
Qusai pointed out that “the government is continuing to control all kinds of commodities,” suggesting that “cars with large sums of money are not bought and sold except through Iraqi banks so that we know what is the source of the Iraqi dinar that buys the car and who is the one that sells it.”
He concluded by saying, "If the car market is controlled, then the real estate, gold and medicine market will be controlled." Views 43 08/21/2023 - https://economy-news.net/content.php?id=35763
Japan Announces 7 New Projects In Iraq
Policy 2023/08/21 number of readings: 123 Baghdad-Iraq today: The Japanese government announced the launch of 7 new projects under implementation in Iraq, stressing that its loans to Iraq will last for up to 40 years, with interest as low as 0.2 percent.
And the Japanese ambassador to Iraq, Futoshi Matsumoto, said in a statement to the official agency, followed by "Iraq Today", that Japan has submitted, during the past twenty years, up to 30 large projects in Iraq, which were implemented by the Japanese. companies.
He pointed out, "There are 7 new projects under implementation, and they will be implemented in the event that the Iraqi government decides to allocate funds for them in its budget for next year."
Matsumoto continued, "Among the projects to be implemented are the Basra refinery development project, and the water desalination project in Muthanna Governorate, which has a value of more than $300 million, and aims to support the development and reconstruction of the region.
And the ambassador stressed that "Japan will continue its support for Iraq by providing financial financing and loans with very few interests, as the loans will continue to be repaid for a period of 40 years, and with an interest of up to 0.2 percent." LINK
"Malignant" Plans.. "The Information" Shows Al-Kazemi's Relationship With The Recent American Moves
Today 15:33 Information / special. Today, Monday, an informed political source revealed the methods of the former Prime Minister, Mustafa Al-Kazemi, to try to destabilize the political and security situation in Iraq, while explaining the relationship between the recent US moves and Al-Kazemi's plans.
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The source said in an interview with Al-Maalouma agency, "The former Prime Minister, Mustafa Al-Kazemi, who is in Britain, is working to spend billions of dollars to support a technical team that is active on social media sites in Iraq."
He added, "This team's goal and main objective is to promote American moves within the Iraqi provinces in order to destabilize the security situation, prevent political stability, and direct criticism towards the current prime minister."
The source (who preferred not to reveal his name) explained that "Al-Kazemi manages a whole group of pioneers of communication sites, some of whom are in Iraq and the other part outside the country," pointing out that "the money that is spent on this team has known sources."
And he stated, "Al-Kazemi was not satisfied with this limit only, but also worked to recruit writers and political analysts and paid them huge sums of money to try to whitewash the period of his rule and presidency of Iraq and remove suspicions and thefts from him."
He pointed out, "The huge money that Al-Kazemi wastes for these analysts and pioneers of social media comes from the great thefts that his government committed and he was involved in, such as the theft of the century, and dozens of others that have not appeared on the Iraqi scene until now."
And the source indicated, "The former prime minister's goal is to try to return to the Iraqi political arena and export himself to the fore again, which is rejected by the majority of political blocs."
Recently, Iraqi social media has dealt with many news and video clips about the movements that the US forces are making inside Iraqi territory, which has caused a state of panic among Iraqi society. For fear of conducting military operations or carrying out hidden plots LINK
Iran Receives Part Of Its Frozen Funds In Iraq
Monday, 08-21-2023, KARRAR AL-ASADI Iranian Foreign Ministry spokesman Nasser Kanaani confirmed today, Monday, that part of the Iranian funds frozen in Iraq had been received.
Fares news agency quoted Kanaani as saying, "There is part of our assets in Iraq, which were difficult to obtain due to American interventions. Some of these assets have been transferred and are now under implementation."
"The government will not give up the people's rights anywhere, and will continue this path, step by step," Kanaani added. He did not indicate the amount of money and the way it was obtained.
On August 11, official Iranian media revealed the details of the agreement reached by Tehran with the United States of America under the auspices of a third country, which provides for the exchange of prisoners between the two countries and the release of Iranian funds frozen in South Korea and Iraq.
The official Iranian News Agency, "IRNA", quoted an official source familiar with this agreement, as saying, "This agreement requires Iran to release 5 American prisoners in exchange for the release of 5 Iranian prisoners in the United States of America."
He explained that "in addition to that, 6 billion dollars of Iranian funds frozen in South Korea will be released, along with a large part also of Iranian funds in the Iraqi TBI Bank," noting that "the first stages of the process of releasing Iranian funds in European banks have begun." ".
On July 11, Prime Minister Muhammad Shia al-Sudani announced Baghdad's contact with the US regarding the payment of Iran's dues for Iraq's gas imports, amounting to 9 billion and 250 million euros, adding that Iraq had paid "up to one billion and 842 million euros in the seven-month period of The life of the government according to the agreed mechanism.
Al-Sudani added that a delegation from the Central Bank of Iraq and the Iraqi Trade Bank left Iraq for the Sultanate of Oman with the aim of "agreeing on a formula for transferring these funds to the Sultanate of Oman in agreement with the US Treasury." https://non14.net/public/159506