"Tidbits From TNT" Thursday Morning 12-15-2022
TNT:
Tishwash: What are the solutions to reduce the dollar against the Iraqi dinar?
On Thursday, economic expert Manar Al-Obaidi presented solutions to address the temporary rise in dollar exchange rates.
Al-Obaidi said in a publication, "The effect of the rise of the dollar against the Iraqi dinar has great repercussions, especially on the fragile class as a result of the rise in prices of various materials, particularly basic foodstuffs," noting that "the price of the dollar is not as important to the simple Iraqi citizen as the high prices of basic materials and high inflation rates are." ".
He explained that "the basis for importing foodstuffs is from Turkey in particular and from Iran," noting that "the most affected materials are flour, meat, vegetables, and other factors affecting the price hike are transportation and operational costs."
He pointed out that "the basis for reducing the vulnerability of these products to the prices of changing these materials is to provide support packages for the import of these materials in order to reduce their vulnerability to exchange rates and also work to reduce the costs of sold fuel, especially diesel and black oil, which will contribute to reducing the operational costs of transportation and operation of capable Iraqi factories." To compensate for some products, as well as to allow the import of wheat through the private sector in order to operate mills to provide flour products at reasonable prices.
And he warned that "the solutions above are temporary until the return of exchange rates to normal, since the change resulted from procedures and the strength of the Iraqi economy has nothing to do with this rise link
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Tishwash: The Central Bank issues an explanation regarding the high exchange rate of the dollar*
Today, Thursday, the Central Bank issued a clarification regarding the rise in the exchange rate of the dollar, while indicating that the rise is due to several factors, including building an electronic platform through which banks raise the requests of their customers.
The Central Bank said in a statement, a copy of which Mawazine News received, that "the slight rise witnessed by the exchange rate of the dollar in the local markets during the previous days is due to some factors, including the building of an electronic platform through which banks raise the requests of their customers," noting that it "started since It was famous for building that platform in coordination with international bodies for the purpose of ruling and organizing the operations of the buying and selling window of foreign currency and ensuring effective control over it, as a specialized international company was commissioned to build it and link banks with the central bank through it.
He added, "The platform requires providing information about customers requesting transfers, beneficiaries, correspondent banks, etc.," explaining that "due to the recent use of this platform, many errors are being discovered, which requires the bank to re-upload them, and these procedures take additional time to accept the request and pass it through the financial system." Global".
He stressed that "the reserves and financial solvency of the state in general are in excellent condition and at their best levels in decades," pointing out that "the current supply of foreign currency is not linked to resources, but rather to administrative and auditing procedures, which will be bypassed in the coming days in addition to that."
He pointed out, "It has taken a number of measures to expand the supply of foreign exchange to meet the public's demand for cash dollars," stressing, "directing the management of the window to meet the requests of banks for the coming days faster by executing double requests, and a preferential price was given for the implementation of documentary credits, and for the purpose of covering the local demand." link
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Tishwash: Kurdish delegations flock to Baghdad for their share in the budget
With the aim of ensuring its share of the budget, as well as finding solutions to resolve the dispute over the oil and gas law, Kurdish delegations are coming to Baghdad to agree on the most prominent sticking points.
Agreement does not appear to have been reachedBaghdadAnd theErbilWith regard to the region's share in the general budget and the oil and gas law, especially with the succession of Kurdish delegations to the capital, delegations that have not yet obtained their goal.
The region's share of the budget will be in accordance with Erbil's commitment to pay what it owes to the federal government, in addition to the agreement to give the center no less than two hundred and fifty thousand barrels of oil per day toBaghdadAs confirmed by deputies
Since the formation of the Sudanese government, Kurdish delegations have descended on the capital, one after the other, with the aim of ensuring their share in the budget, in addition to finding a solution to the oil and gas law for the region by the Federal Court link
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Tishwash: Expect Brent to return to $110 by mid-2023
Morgan Stanley expected, on Wednesday, a rise in Brent crude prices to about $110 a barrel by mid-2023, indicating that prices are receiving support from high demand and the continued scarcity of crude supply.
The investment bank said in a note: “We still expect an increase in oil prices, supported by the recovery in demand after China eased Corona restrictions, and the recovery of the aviation sector amid a lack of supply due to low levels of investment and the risks facing Russian supplies, the end of withdrawals from the Strategic Petroleum Reserve and the slowdown in US shale oil production.” .
Oil prices rose today, Wednesday, after both the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency expected a recovery in demand over the next year, according to Reuters.
The bank said that macroeconomic headwinds will push the market into a slight oversupply and are likely to keep prices somewhat range-bound through the first quarter.
But Martin Rats, an oil analyst at Morgan Stanley, expects the market to return to balance in the second quarter and to witness greater scarcity in the second half of 2023.
For US gas, the Bank expects that new supply will exceed demand next year, leading to a lower balance and posing negative risks to post-winter prices. link
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Mot: ....... short and Sweet it is! ~~~~
