More Iraqi News Thursday PM 1-27-22
More Iraqi News Thursday PM 1-27-22
TLM724 Administrator BondLady’s Corner
Parliament Awaits Its Second Session
Thursday 27 January 2022 163 Baghdad: Huda Al-Azzawi Law experts confirmed that there is no relationship between Parliament’s conduct of its regular sessions and the exercise of its legislative and oversight role and the deadline for choosing and electing the new president of the republic, indicating that the recent Federal Court decision to lift the state order to stop the work of the parliament’s presidency restored to the legislative authority its full powers, including holding the expected second session. .
A parliamentary source had said earlier that the Presidency of the Parliament had not yet determined the timing of the second session, likely to be on the second of next February.
The head of the Deans of Law Committee and the Dean of Babylon University, Dr. Miri Kazem Al-Khikani, explained in an interview with "Al-Sabah" that "the decision of the Federal State Court to stop the work of the Presidency of the House of Representatives elected in the first session of the House of Representatives will not affect the date of the election of the President of the Republic on the eighth of next February."
He pointed out that "if the parliament's procedures were incorrect and disrupted, this would have an impact on the date of the session for selecting the president of the republic, in addition to the fact that the parliament's work has nothing to do with the specified constitutional periods," and with regard to the resumption of regular sessions between Al-Khikani, "the possibility of carrying out their work and the procedures drawn up for them in accordance with the Constitution".
On the other hand, KDP representative Nehru Raundozi confirmed in an interview with Al-Sabah that "the regular sessions of Parliament, according to the law, will not resume until the session for selecting the president of the republic is held, because the parliament's drafts and the legislation of laws come from the executive authority, so it is assumed that The government is fully formed so that we can proceed with the regular sessions of Parliament.”
Regarding the date of the session to choose the president of the republic, Raundozi explained that “according to the constitutional period set within a month, and on February 8, the last date for choosing the president of the republic, it is likely that the session to choose the president of the republic will be held on the 6th or 7th of next month before the expiry of the period, after the file of the file is resolved. The President of the Republic is among the Kurds." LINK
Expert: Treasury and speculators will limit the rise in oil prices
Posted On 2022-01-27 By Sotaliraq The oil expert, Hamza Al-Jawahiri, confirmed today, Thursday, that oil stocks and speculators will limit the rise in oil prices.
Al-Jawahiri said in an interview that “the rise in oil prices will affect consumers because some countries cannot pay the oil bills,” expecting that “the countries of America, China and other countries will continue to pay quantities from their strategic oil reserves to curb the rise in oil prices.”
He added, "The speculative traders who have large quantities of crude oil will take advantage of the high oil prices to sell what they have to make profits, and therefore there will be another supply of oil to global markets, which limits the price hike."
Al-Jawahiri favored it; "The prices will not rise above $90 a barrel," noting that "the rise in oil prices to $ 100, as some major financial authorities expected, there will be economic collapses, especially for some economically weak countries."
Al-Jawahiri pointed out that “the stability of the oil market is important to the consumer and also to the producers, because high prices may be immediate and may fall quickly, and therefore price stability is important and beneficial in the long run.”
Oil prices rose this week to reach $90 a barrel at a time when consuming countries are trying to stop the price hike at a time when the world is witnessing an openness in markets after a period of closures as a result of Corona. LINK
Iraq Signs Two Agreements At The Headquarters Of The Arab League
Thursday 27 January 2022 173 Cairo: Israa Khalifa Iraq signed, at the headquarters of the General Secretariat of the League of Arab States, yesterday, Wednesday, the Arab Protocol to Prevent and Combat Maritime Piracy and Armed Robbery, supplementary and supplementary to the Arab Convention against Transnational Organized Crime, and the Arab Convention to Prevent and Combat Human Cloning, which were approved by the Councils of Arab Interior and Justice Ministers in their joint meeting which was held in Tunisia in the year 2019.
The Minister of Justice, the representative of Iraq to sign the agreement, Salar Abdul Sattar, told Al-Sabah: "Iraq's signing of these agreements is very important, as Iraq is a founding member of the Arab League, and it is important to sign these agreements that prevent a number of cross-border crimes."
He added that "Iraq is returning strongly to the joint Arab action and that these agreements that have been concluded will be important to deter organized crimes between Arab countries and regional countries and to prevent and combat terrorism among Arab countries, especially those that signed these agreements, which are 15 Arab countries."
He explained that "the Arab protocol aims to prevent and combat maritime piracy and armed robbery, supplementary and supplementary to the Arab Convention against Transnational Organized Crime, and to strengthen cooperation, support and strengthen ties between states parties in this field."
He continued, "The agreement aims to prevent and combat human cloning and to detect it in all its forms and types, and all crimes related to it, to prosecute its perpetrators, and to strengthen Arab cooperation in this field." LINK
Central Bank Sales Of Hard Currency Decreased For Today
Economie| 02:54 - 27/01/2022 Baghdad - Mawazine News The Central Bank of hard currency sales recorded, Thursday, a remarkable increase, reaching more than 200 million dollars.
And the Central Bank auction for the sale and purchase of foreign currencies witnessed a decrease in its dollar sales by 8.56% to reach 203 million and 325 thousand and 745 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.
Sales went to enhance balances abroad in the form of remittances and credits, which rose dramatically, reaching 182 million and 25 thousand and 745 dollars, while the remaining amount of 21 million and 300 thousand dollars went for sale in cash.
This has been 28 banks to fulfill requests to enhance balances abroad, 6 banks to meet cash requests, in addition to 90 mediation companies. https://www.mawazin.net/Details.aspx?jimare=182849
A Slight Increase In The Exchange Rates Of The Dollar In The Local Markets
Economie| 11:01 - 27/01/2022 Baghdad - Mawazine News The dollar exchange rates recorded, Thursday, a slight increase in the main stock exchange and local markets in the capital, Baghdad.
The dollar exchange rate on the Central Kifah Stock Exchange in Baghdad rose today, recording 147,900 dinars, for each $100 bill.
While the prices of buying and selling dollars in exchange companies and local markets stabilized in Baghdad, where the selling price amounted to 148,500 dinars, for each denomination of 100 dollars, while the purchase prices amounted to 147,500 dinars, for each paper denominations of 100 dollars. Ended 29/A https://www.mawazin.net/Details.aspx?jimare=182820
Economists: The Central Bank's Policy Targets Inflation And Stimulates The Development Side
Investigations and Reports Today, 18:32 Baghdad - INA - Nassar Al-Hajj Economic experts confirmed today, Thursday, that the Iraqi Central Bank pumping an amount of one trillion dinars to support the economy will make a leap in the field of construction and production and provide job opportunities for the unemployed.
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, told the Iraqi News Agency (INA), that "the monetary policy of the Central Bank within the current trends is working towards the so-called theory of assets in the policies of central banks in the world, which is to support the liquidity of the economy and urge bank credit to finance real activities of the economy."
Pointing out that "the Iraqi economy has suffered from deflation and unemployment since the health crisis in 2020, which made monetary policy to compensate for the economy's policy and break bottlenecks; therefore, deflation is an unstable phenomenon, as is the case with inflation."
He added, "Monetary policy in general is a short-term policy, and the Central Bank works according to a policy that targets inflation and finds an equation between inflation and growth in order to achieve the desired economic stability."
An expected leap in the field of construction and production, in turn, the economic expert, Basem Antoine, confirmed to the Iraqi News Agency (INA), that "the central bank pumped a trillion dinars to support the economy, which will not cause inflation, indicating that "if it is spent in the right place, it will make a leap in the field of construction and production and will provide job opportunities. and housing for citizens.”
Proposals To Support Local Projects
For his part, the economic expert, Abdul Rahman al-Mashhadani, confirmed to the Iraqi News Agency (INA) that "the initiatives of the Central Bank have continued since its launch in 2017, especially to activate the development aspect of financing small, medium and large projects by allocating 6 trillion dinars," noting that
"about 3 trillion have been added." Dinars for the housing sector with soft loans and project financing.
He added, "There is a role that the Ministry of Finance must play when the economic situation is in a downturn through spending on development projects," noting that "these effects will leave cumulative pressures."
He continued, "We saw an increase in the inflation rate, which reached 8% due to the increase in global prices, services and international transport compared to last year," noting that "any step that calls for a monetary issuance that is pumped into the local market will have a new inflation return."
He pointed out that "the Iraqi markets need strong payments by establishing simple and local projects," noting that "the increase in loan grants and the increase in the central bank's dollar sales led to an increase in demand for imported goods in the market."
And the Central Bank of Iraq announced earlier, increasing the allocations of its initiative to small and medium enterprises.
And the Governor of the Bank, Mustafa Ghaleb, stated in a statement received by the Iraqi News Agency (INA), that "the Central Bank increased the amount of its initiative to lend to small and medium-sized enterprises by an amount of one trillion dinars, bringing the total amount allocated for this goal to two trillion dinars," noting that
"the Central Bank's lending initiatives, contributed to Supporting the sectors of industry, agriculture, housing and trade, and they now constitute nearly 30% of the total credit granted to the private sector, and have contributed an important percentage to the GDP.
He added, "There are some loans provided by the Central Bank that are granted without interest, but rather in return for an administrative commission only," noting that
"the one trillion dinars initiative contributed to creating thousands of job opportunities and financing nearly three thousand housing units throughout Iraq, and it has exceeded The percentage of its implementation reached 90%, which prompted us to increase its amount by an additional trillion dinars.
And he continued, fearing, according to the statement, that "the monetary policy tools contributed greatly to supporting the economy and overcoming the financial crises that occurred in the country."
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