More Iraqi News Tuesday PM 3-30-21
More Iraqi News Tuesday PM 3-30-21
TLM724 Administrator BondLady’s Corner
Businessmen And Bankers In Baghdad Protest Against The Dollar’s Price Cut
Tuesday 30, March 2021 17:09 | Economical Views: 31 Baghdad / NINA / Dozens of businessmen and banking and bank exchange offices gathered in front of the Baghdad Chamber of Commerce building, to protest against the failure to reduce the exchange rate of the dollar against the dinar, demanding that they be removed from responsibility for the high prices in the local market. https://ninanews.com/Website/News/Details?key=896195
Central Bank Official: There Is No Return To The Previous Dollar Exchange Rate
Tuesday 30, March 2021 17:49 | Economical Views: 25 Baghdad / NINA / The Central Bank of Iraq confirmed that there is no return to the previous exchange rate of the dollar against the dinar, and the price will not be reduced under any circumstances, and indicated that there is no intention to raise the price from 145 thousand per 100 dollars.
"The current price of the dollar is very reasonable and the bank has settled on it, and any decision to reduce it means that we are heading towards an economic massacre," said Ihssan Shamran, director of the bank's accounting department, in a press statement.
And the Central Bank called for "ending" what it called "the polemics calling for the return of the previous price," noting that "this matter is not based on any economic vision, despite the sound intentions of those demanding that."
Shamran, an advisor to the central bank governor, considered that "the process of raising the dollar against the dinar was long overdue because this matter contributed to protecting the domestic product, in addition to that the lifting process increased the financial costs of exporting countries to Iraq by 22%, which contributes to increasing competition between the imported product and the producer." the local".
He added that "suspicions of money laundering also ended with the raising of the dollar, and this is one of the most important benefits that Iraq obtained as a result of the process of changing the exchange process."
The Director of the Accounting Department at the Central Bank revealed, "The public finances obtained about 10 trillion dinars as a result of the process of raising the exchange rate of the dollar against the dinar, and therefore it is now assumed that the Ministry of Finance should allocate about 20-30% of the amount collected (10 trillion) for the purpose of distributing it to Citizens who are within the poverty line, whose number is about ten million citizens, as financial grants, and this is part of the Central Bank's understandings with the Ministry regarding the process of changing the currency exchange rate. / End 5
https://ninanews.com/Website/News/Details?key=896213
Hazem Al-Khalidi: We Will Initiate Procedures To Withdraw The Powers Of Those Who Are Not Qualified In The Event Of Continuing Insistence On The Decision To Raise The Price Of The Dollar
Tuesday 30, March 2021 12:52 | Economical Views: 200 Baghdad / NINA / The head of the Parliamentary Committee for Monitoring the Implementation of the Governmental Program and Strategic Planning, Hazem Al-Khalidi, affirmed that the committee will initiate procedures for withdrawing the powers of those who are not qualified in the event of continued insistence on the decision to raise the price of the dollar.
He said in a press statement: The government has admitted on more than one occasion the damages and negative effects of the decision to raise the price of the dollar against the Iraqi dinar, including the report of the Central Bureau of Statistics of the Ministry of Planning, which approved an increase in annual inflation rates continuously from November 2020 until February 2021 to nearly The 5% means that the price of consumer goods will continue to increase in the Iraqi local market.
He added: A paragraph was added to the budget that included allocating compensation to contractors affected by the decision of the dollar exchange rate of about 500 billion dinars, which is a clear recognition of the existence of damages to the decision, so the government seeks to compensate contractors and neglect the millions of Iraqis who live below the poverty line.
Al-Khalidi explained that: The Ministry of Planning's emphasis on the rise in poverty rates to about 25% means that there are about 10 million poor citizens inside the country, especially in the central and southern governorates.
He pointed out: The High Commission for Human Rights warns of the continued increase in food prices and the rise in poverty rates, and the government's call to declare a state of humanitarian emergency.
Al-Khalidi continued: Despite these admissions and warnings, the government, backed by some political forces, continues to insist on this decision despite its negatives and risks, as well as the absence of all government justifications for taking it, which is surprising after the popular campaign launched by the citizens to cancel the decision.
And he indicated: In the event that the government and the Central Bank continue to insist on this decision, we will initiate a parliamentary campaign to amend the laws of the Central Bank and the Ministry of Finance and withdraw these powers from those who are not qualified. / End 3
https://ninanews.com/Website/News/Details?key=896133
Iraq Is Out Of The Global Economic Freedom Ranking
Economy Tuesday 30 March 2021 | 02:59 pm| Views: 152 The American Heritage Foundation , which is concerned with measuring the level of economic freedom in countries around the world, announced that Iraq has not achieved any rank in terms of global economic freedom for the year 2021 .
According to the report published by the Foundation, "six countries, including Iraq, did not have any rank in relation to global economic freedom out of the 179 countries listed in the table," indicating that the countries included Iraq, Libya, Liechtenstein, Somalia, Syria and Yemen .
She added, "Singapore ranked first in economic freedom with a score of 89.7, followed by New Zealand with a score of 83.9, then Australia came third with a score of 82.4 and Switzerland came fourth with a score of 81.9 ."
She indicated that the UAE ranked first in the Arab world and 14th in the world with a score of 78.4, followed by Qatar and 31 in the world with a score of 72, and Bahrain came third and 40 in the world with a score of 69.9, and then Jordan came fourth and 64 with a score of 64.6 .
It indicated that it "relied on its classification on twelve factors to measure the economic freedom of these countries, related to four main aspects of the economic environment, which were classified from 0 to 100, and their average to determine the degree of the state, which is the rule of law (property rights, government integrity, judicial effectiveness), size of government Government spending, tax burden, financial health), organizational efficiency (business, employment, and monetary freedom), open markets (trade, investment, and financial freedom ). ”
She explained that "the focus of the Economic Freedom Index is that individuals should be free to work, consume and invest without restrictions," indicating that "poverty, disease and ignorance are declining in all regions, this is largely due to the widespread adoption of more advanced and transparent economic policies." https://aynaliraqnews.com/index.php?aa=news&id22=145695
Washington Reveals The Files Of The Strategic Dialogue With Baghdad
Political Tuesday 30 March 2021 | 12:55 PM| Views: 176 The US State Department announced, through its Twitter account, that the next round of the Iraqi-American strategic dialogue will take place on April 7th .
The Department of Middle East Affairs at the US State Department said, "The United States will hold strategic dialogue talks with the Republic of Iraq via closed circuit video on April 7, according to the 2008 Strategic Framework Agreement between the two countries ."
He explained that "the talks will deal with issues of security and combating terrorism, the economy and energy, and political issues and cooperation in the field of education and culture ."
White House spokeswoman Jane Saki said in a statement last week that the dialogue between the two countries includes developing a plan to train Iraqi forces and provide advice to them so that ISIS does not regroup . https://aynaliraqnews.com/index.php?aa=news&id22=145682
The Secretary-General Of The Council Of Ministers Discusses With The Iraqi Private Banks Association The Project To Develop Al-Mutanabi Street
Banks Economy News _ Baghdad The Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, discussed with the Iraqi Private Banks Association the mechanism of the Mutanabi Street development project, within the framework of the "Tamkeen" initiative launched by the Central Bank and the Association of Iraqi Private Banks.
The Secretary-General was briefed on the graphic display of the implementation stages of the project, which turns Al-Mutanabi Street into a unique cultural and heritage edifice at the country level, and includes the unification and numbering of its facades, as well as light engineering that mimics the Sumerian and Babylonian cultural heritage, as well as the establishment of modern entrances to the street, as a source of cultural and literary radiation in Iraq.
The Secretary-General called during his presidency of the meeting of the Coordination Committee of the "Tamkeen Fund" financed by private banks, according to a statement received by "Al-Eqtisad News", to expand the scope of the initiative to include more regions and cities, praising the initiatives launched by the Iraqi Private Banks Association, with the support of the Central Bank of Iraq. In coordination with the General Secretariat of the Council of Ministers.
He emphasized directing the ministries and relevant authorities to facilitate the implementation of the initiatives of the Central Bank and the Association of Iraqi Private Banks, lifting administrative obstacles and reducing any possible red tape. To complete projects on time.
For his part, the head of the Iraqi Private Banks Association, Wadih Al-Handal, reviewed the association’s role in the projects that were implemented through the Tamkeen Fund financed by private banks, and future projects planned within the subsequent periods, the most important of which are the development and rehabilitation of Al-Mutanabi Street, the Institute for Leadership Development, as well as the inclusion of a number of The provinces in the process of development and rehabilitation and the association’s contribution to treating critical cases outside Iraq.
Number of observations 61 Date of addendum 03/30/2021
https://economy-news.net/content.php?id=24651
To read more current and reliable Iraqi news please visit BondLady’s Corner: