More Iraqi News Saturday PM 10-30-21
More Iraqi News Saturday PM 10-30-21
TLM724 Administrator BondLady’s Corner
The government's financial advisor to / Nina /: Adjusting The Price Of The Dinar Against The Dollar Needs Several Requirements That The Government Must Take
Saturday 30 October 2021 13:56 | Economic Number of readings: 231 Baghdad / NINA / - The government's financial advisor, Mazhar Muhammad Salih, confirmed that adjusting the dinar exchange rate in light of the improvement in oil revenues needs several requirements that the government must take.
Muhammad Salih said in a statement to the National Iraqi News Agency ( NINA ) that adjusting the exchange rate requires the foreign currency to cover the local liquidity, indicating that the superiority of foreign reserves over the cash reserve should not threaten the wealth of the country’s foreign reserves.
” He added: “Foreign reserves should cover at least A number of import months, including no less than 6 months, especially in the case of Iraq, which is adopted and very open to foreign markets./End 8
https://ninanews.com/Website/News/Details?Key=936081
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad Today, Saturday, the dollar exchange rates remained stable in the local markets. The selling prices of the dollar were 148,000 dinars per 100 dollars, while the purchase prices of the dollar were 147,500 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 94 Date added 10/30/2021 https://economy-news.net/content.php?id=26674
Iraq: Iraqi Diplomatic Moves To Restore Money And Real Estate In These Countries
Sat, 30 Oct 2021 11:21 AM Baghdad/National News Center Today, Saturday, the Ministry of Justice revealed diplomatic moves to restore Iraqi funds and real estate in Jordan, Switzerland and other countries, while summarizing its role in preserving citizens' properties in the liberated areas.
The ministry’s spokesman, Ahmed Laibi, said, “The role of the Ministry of Justice in preserving citizens’ real estate in the liberated areas was to transfer records to safe areas during that period, and to refer to the central records to make any sale or purchase on these real estate, in addition to placing Signs of confiscation of some of them until proof of return.”
Laibi added that "the Ministry of Justice organized a conference to recover the looted funds in mid-September under the supervision of the Minister of Justice, Judge Salar Abdul Sattar Muhammad, and it was agreed to hold several memoranda of cooperation and agreements in the recovery of funds and real estate abroad as well as through the Office of Foreign Litigation."
He stressed that "the ministry has a lot of diplomatic moves to recover money and real estate, including Jordan, Switzerland and others." https://nnciraq.com/97945/
Cougar To / Nina /: The Kurdish Parties Have Not Yet Decided How To Deal With Baghdad
Saturday 30 October 2021 09:28 | political Number of readings: 455 Baghdad / NINA / - The winning Kurdish candidate, Jamal Cougar, confirmed that there are efforts to unite the Kurdish parties before the start of negotiations with Baghdad.
Cougar said in a statement to the National Iraqi News Agency / NINA /: "Negotiations began between the Kurdish parties to come up with a unified position and form one Kurdish bloc as before for the purpose of starting negotiations with the winning bloc after the issue of the next prime minister was resolved," noting: "The Kurdish parties have not been resolved." Until now, how to deal with Baghdad, whether it is united or divided."
He explained: "The Kurds in general decided not to enter into the internal conflicts of the Shiite house, and they are waiting for the matter to be resolved by assigning a certain party as the largest bloc to form the government, after which there will be a Kurdish position."
Cougar expressed his hope that there will be a unified Kurdish direction in order to discuss with the Shiite and Sunni parties the issue of forming the next government./ https://ninanews.com/Website/News/Details?Key=936028
The Changing Wealth of Nations 2021 : Managing Assets for the Future
· left Link ‘Download English PDF’*
“Policies and Investments Increasing Low-Carbon Transition Risks
Many countries with high rents from nonrenewable natural capital have not invested sufficiently to offset the depleting asset.
This is expressed in terms of negative adjusted net savings.
This is true not only for hydrocarbon-rich countries, such as Iraq and Nigeria, but also for some mineral-rich countries, such as Guinea and Sierra Leone.
The negative adjusted net savings in these countries is a lead indicator of unsustainable wealth management.
If continued, it will negatively impact the value of future wealth.
This is because the value of a depleting nonrenewable asset is being consumed rather than invested in offsetting asset accumulation— such as via human capital or productive capital investment.
Therefore, governments may need to consider policies that would better preserve and build wealth or look for alternative sources of income to raise their net savings.
Investments in renewable natural capital and human capital could help countries to diversify their asset portfolio and reduce their dependence on nonrenewable natural capital.
Peszko et al. (2020) suggest that an asset diversification strategy where a country invests in renewable natural capital and intangible assets, like knowledge, innovation, and institutions, could help reduce the exposure to low-carbon energy transition risks.
They also suggest that this strategy increases the flexibility, resilience, productivity, and climate mitigation co-benefits.”
Nonrenewable Natural Capital and Human Capital Distortions: Impact on Accumulation, Gender, and the Public Sector
Introduction
“The accumulation of human capital and its increasing share in total wealth is widely considered an important component of achieving sustainable development and prosperity according to the 2018 edition of The Changing Wealth of Nations (Lange, Wodon, and Carey 2018).
As discussed in chapter 9, nonrenewable natural capital wealth forms a large share of some countries’ wealth endowments: for example, 30 percent in high-income non-OECD countries.
This can be as high as 65 percent of total wealth in fossil fuel–rich countries (Iraq, for example) and as high as 24 percent of total wealth in mineral-rich countries, such as Mongolia.
Converting nonrenewable natural assets into sustainable productive assets, such machines, infrastructure, and an educated, healthy population with quality jobs, is a challenging task.
Nonetheless, economists identify this as an important requisite for sustainability (Hartwick 1977).”
https://openknowledge.worldbank.org/handle/10986/36400
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