"Tidbits From TNT" Wednesday Morning 6-9-2021

Jun 9

TNT:

Tishwash: World Bank: Iraq has drawn up a policy to improve the economic reality by adhering to the White Paper

The World Bank confirmed that Iraq has drawn up a policy to improve the country's economic reality by adhering to the reform white paper, but it is still facing economic crises, expressing its readiness to respond to any request submitted by the Iraqi government regarding loans.

The representative of the Bank in Baghdad, Ramzi Noman, said that the World Bank is ready to help Iraq if the Iraqi government asks us to do so, as the government so far has its financial and economic plans, and that the World Bank is working with the Iraqi government on a new project to promote vaccines related to the Corona pandemic, and this is what The government requested it in this context, and it does not come within the portfolio owned by Iraq. link

Shybaby: " work has begun to implement its contents."..... woooooohooooooo

Annie29: maybe today is the day

Alf: I'm eternally hopeful annie! I have faith that this will explode all at once. we'll have to sit down fast or fall down from the shock of it.

Tishwash: Within hours... a jump in dollar prices in Baghdad, amid government assurances

The exchange rates of the US dollar recorded a new jump against the Iraqi dinar, on Wednesday, on the main stock exchange in the capital, Baghdad.

Shafaq News Agency correspondent reported that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad has currently registered 150,500 Iraqi dinars, compared to 100 US dollars.

The Central Kifah Stock Exchange recorded during its opening this morning 150,000 Iraqi dinars.

Our correspondent indicated that the buying and selling prices rose in the banking shops in the local markets in Baghdad, where the selling price amounted to 151,000 Iraqi dinars, while the purchase prices amounted to 150,000 dinars per 100 US dollars.

For his part, a government source said in an interview with Shafak News Agency that "the rise in dollar prices in local markets is temporary," noting that "the Central Bank has sufficient reserves to reduce the price of the dollar in local markets."

The source, who asked not to be named, added that "the merchants did not enter the bank's auction for 6 months, when parliament was discussing the issue of stabilizing the price of the dollar in the hope that the price of the Iraqi dinar would rise, which led to the consumption of all the dollar amount that they had," noting that "traders They are now starting to replace the dollar, very strongly."

He pointed out that "the market is also subject to speculation, whether internal or external, and therefore this will lead to a price crisis," stressing that "this rise is considered temporary, and once the bank raises its currency sales by 25 percent, there will be a drop in dollar prices." link

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Tishwash: The owners of exchange companies and outlets in Baghdad appeal to the director of Al-Rashid Bank to intervene to end their suffering

A number of owners of exchange companies and electronic payment outlets in Baghdad, on Tuesday, via "Mawazine News", appealed to the Director of Al-Rasheed Bank to intervene to end the obstacles they face during their reviews of the bank's branches in the capital.

A number of them said in an exclusive interview with "Mawazine News", that "they face a set of problems and obstacles during their daily reviews of Al-Rasheed Bank's branches in Baghdad, including the main branch /106 in the Al-Nahr Street area in the center of the capital."

They added that one of the most prominent problems they suffer from is that "the bank's branches force the owners of electronic outlets and exchange companies to receive small paper currencies of the category (5-10) thousand dinars, and they refuse to hand over the amounts that they want to withdraw in large denominations."

They explained that "this matter represents a security crisis for them, as they will have to carry and move large amounts of money, noting that some of their outlets are about 60 or 801 km away from the bank's branches, in addition to their financial losses because many of these small paper currencies are damaged and cannot be exchanged for customers."

The owners of companies and electronic outlets indicated that there is another problem they suffer from when they visit one of the branches of Al-Rasheed Bank, which is represented by “demanding the bank branches from the owner of the exchange company or the electronic outlet, who has a bank account in one of the bank’s branches in Baghdad, and who intends to withdraw amounts from another branch.” The bank has the right to issue and routine reviews that disrupt their work and cause delays in their transactions with the bank,” noting that “other government banks do not engage in such issues with their customers.”

He appealed to the owners of exchange companies and electronic payment outlets, through the agency (Mawazine News), the director of Al-Rasheed Bank to intervene to end their suffering. link

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Tishwash: The government movement strengthens Iraqi economic relations with the world

The recent period witnessed an intense diplomatic movement led by Prime Minister Mustafa Al-Kazemi, to strengthen Iraq's relations with a number of Arab countries, including Egypt and Jordan, as well as with regional countries, including Turkey and Iran, with the aim of achieving economic cooperation that would benefit all parties. Academic economist Abdul Latif Shehab said: The movement of the Iraqi government was launched on the basis of joint cooperation and mutual benefit, because the economic file has its importance and impact on international relations, and the countries of the world, including Iraq, have become interested in developing these relations, and the economic file has an effective influence in building ideal relations.

Turn the economic researcher

Dr.. Ahmed Al-Shara stated that {the Iraqi government has embarked on building the economic relations that constitute the nucleus of the modern state, with the advantages of specialization and division of labor to achieve economic stability and satisfy needs through mutual benefit}.

commercial exchanges

It is noteworthy that it was agreed between Iraq and Jordan to facilitate trade, increase the volume of bilateral trade exchanges, and address the obstacles facing the flow of intra-regional trade. With the Egyptian side, Iraq and Egypt signed 15 agreements, memoranda of understanding and cooperation protocols, in preparation for the implementation of projects in sectors

Electricity, renewable energy, petroleum, mineral wealth, housing, transportation, commerce and industry and investment.

Economic projects

To that, a member of the Economists Association spoke Ikram Abdel Aziz, on the need to expand and encourage economic cooperation with Turkey through the establishment of joint economic projects and encourage the Turkish private sector to invest in Iraq, and because such cooperation and intertwining of economic interests makes the water file between Iraq and Turkey more flexible, and away from the negatives with the need to develop relations commercial and tourist. link

Mot: ~~~ Keeping Ones' Perspective is IMportant Ya know!! ~~~