"Tidbits From TNT" Friday Morning 6-4-2021

Jun 4

TNT:

Tishwash: The postponed parliament session and the currency auction

The President of the Republic stresses the importance of easing tensions in the region, and Al-Kazemi stresses the upholding of the symbolism of the state

For the second time, breaking the quorum prevents Parliament from holding its regular session, and understandings between Al-Sadr and Barzani regarding the establishment of the next stage

Customs confirms the region's non-compliance with the unified tariff .. And the detection of corruption in the currency auction despite the increase in the price of the dollar

Calls for accelerating the reconstruction of the Al-Nuri Mosque and two churches in Mosul,, The Governor of Nineveh announces the close of the file of the displaced link

Tishwash: Al-Rafidain: Increasing the interest rate on deposits

Rafidain Bank announced, on Friday, an increase in the interest rate on deposits.

A statement by the bank, a copy of which was received by Mawazine News, stated that "the bank continues to open saving and current accounts for citizens to deposit their money in the bank instead of hoarding it in homes and obtaining rewarding financial returns."

He added, "It was decided to increase the interest rate on six-month deposits to 4.5 percent, as well as increasing the interest rate on fixed deposits for a period of one year to 5.5 percent."

The statement continued, "The interest rate on deposits for two years has been increased to 6.5 percent." link

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Tishwash: After exceeding 150 thousand dinars, the shock of the dollar paralyzes the Iraqi markets

A rise in the exchange rates of the dollar against the dinar, very significantly, until the exchange rate of the paper reached from 100 dollars to 150 thousand dinars, directly affecting the local market and the prices of food and construction commodities and the rest of the goods, which caused a state of resentment and anger among citizens and elites.

At a time when a parliamentarian indicated that the government and the political forces that supported its decision to raise the price of the dollar are standing idly by and unable to stop this collapse, a parliamentarian confirmed that the market situation today confirms the government’s inability to address and instead of progress and economic prosperity we live today in a recession in markets.

Member of the Parliamentary Committee on Economy and Investment Nada Shaker Jawdat She indicated that the government and the political forces that supported its decision to raise the price of the dollar stand by and are unable to stop the collapse of the local currency and the suffering that the simple citizen from the middle and poor classes pays for as a result of these ill-considered policies.

Jawdat said in an interview with Alsumaria News, "The abnormally high exchange rate of the dollar, and the price of 150 thousand dinars for the 100-dollar bill, has become more impact on the poor and middle classes than necessary," noting that "the prices of goods and goods rose to 30% of the Its natural price, at a time when there is no increase in salaries or the living situation of citizens, on the contrary, things are getting worse at the standard of living and the government is watching without any measures to limit this deterioration

Jawdat added, "In the House of Representatives, we repeatedly demanded that the Minister of Finance and the Governor of the Central Bank be held accountable, but we did not find deaf ears, and there were hidden agreements to obstruct these interrogations," noting that "the political forces that agreed to the proposal to raise the price of the dollar against the dinar, Today I became responsible to the public for justifying the reasons for its acceptance at the time of the government's proposal, which today itself stands today as an obstacle to questioning the Minister of Finance and the rest of those responsible for this file.

She pointed out that "when the government made its decision to raise the price of the dollar with the blessing and encouragement of some political forces, it was better for it to conduct a study after a month or two to find out the pros and cons of the decision, in order to continue with it or undo it, but unfortunately, the government and the blocs that supported its decision look at the matter from One aspect is maximizing what it has of money away from the interest of the simple citizen,” noting that “the government, in case it was unable to open large corruption files or control the border crossings, or the tax, it must not throw its mistakes on the simple citizen to be the victim of any failures that occur.

She continued, "Iraq immersed in the import of Turkey And theIranAnd others, and the continuation of unemployment and the waste of hard currency.”
Member of the Parliamentary Committee on Economy and InvestmentMazen Al-FailiHe stressed that all the justifications set by the government in order to raise the exchange rate have disappeared and no longer exist.

Al-Faili said in an interview with Alsumaria News, "The government had previously set reasons for raising the exchange rate and proceeded with its decision in the light of those justifications," noting that "the first reason is the lack of financial liquidity to pay salaries as a result of the drop in the price of a barrel of oil, as this excuse ended with a rise in prices." Globally, oil exceeds what is in the budget, which currently stands at $71 per barrel.

Al-Faili added that "the third justification was the attempt to prevent the smuggling of currency and forged invoices, but sales amounted to more than 200 million dollars per day, which means that the government has no third justification for raising the exchange rate," noting that "if we wanted to compare the benefits achieved, we support them." Very few, they did not exceed eight trillion dinars, at a time when oil prices today globally have jumped to very good levels that cover normal expenses comfortably.

He stressed, "The repercussions of raising the exchange rate today are paid by the simple citizen, but we find the government's insistence on its position, without a real treatment, with insistence on not admitting the mistake and insisting on continuing with that policy that the citizen paid for, given that prices in the markets have doubled.

" With the sharp rise in the price of the dollar,” he said, noting that “the market situation today confirms the government’s inability to address, and instead of progress and economic prosperity, we live today in stagnation in the markets without finding any results from the white paper that the government talked about nearly a year ago.” link

Mot: ~~~ Amazing!!! ~~~