Zig’s Place Chat and News Wednesday AM 4-14-21

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Butterfly  The Parliamentary State of Law Coalition has confirmed that the high exchange rate of the dollar in the local markets to a new record is a dangerous indicator that confirms the weakness of the monetary policy management in the country and puts many question marks.

The representative of the bloc, Khalaf Abdul Samad, said in a press statement that "the gap created between the already high exchange rate and its price in the market means more high prices, and as a result more economic difficulties for the poor and middle classes and those with limited incomes." : "The Iraqis today are suffering a lot, despite promises and government programs that they heard."

He added, "The repercussions of the wrong decision to raise the exchange rate and include it in the budget" has been eaten by "a significant rise in prices," indicating that "

Butterfly   The Central Bank decided today, Wednesday, to increase the sale of the dollar to cover the increasing demand.

 A document issued by the bank stated that: For the purpose of meeting the demands on foreign currency and for the purpose of achieving the objectives of monetary policy and ensuring the stability of the exchange rate, the Central Bank of Iraq decided to increase the amount of cash sales of foreign currency to the above authorities and fully meet them, as shown below:

The bank’s share is 200,000 dollars per week.  The share of the Class A exchange company is $ 1,500,000 per week The share of the Class B exchange company is $ 500,000 per week The share of the Class C exchange company is $ 50,000 per week.   Please submit your requests as of Sunday 2021.

butterfly  The exchange rate of the dollar in the local market for today, Wednesday, increased sharply from the previous price. The selling price of the dollar on the Baghdad Stock Exchange was 149,500 dinars, and the purchase price was 149,000 dinars, for every 100 dollars.

butterfly   The specialist in economic affairs, Hussein Shaker Tahilo, confirmed that the high exchange rate of the dollar against the dinar is about eating about a third of the salaries of employees or those with limited income, workers and workers.

In a statement to the Iraqi National News Agency ( NINA ) , Tahilo said : Iraq sits on enormous natural resources, oil resources, water resources and all the elements of the economy, but it suffers from many crises and imbalances, the last of which was the rise of basic foodstuffs in the markets in the absence of some items of the ration card, attributing that To three axes, the first is the rise in the exchange rate by the Iraqi government under the pretext of helping the local industry, the second is that the government does not control the markets, which prompted some traders to manipulate prices, and the third is the failure to provide the ration card items.

He added: All these reasons have led to an increase in the prices of foodstuffs, and the main reason is the high exchange rates, because most of the necessary materials are imported from abroad and the lack of alternatives to them in the local markets, as well as the government's lack of control over the markets has led to the greed of some merchants to raise prices with the increase. Demand for them with the approach of the blessed month of Ramadan.

”And also the failure to provide some of the basic ration card items for the Iraqi citizen, despite the fact that the Council of Ministers had instructed the Ministry of Trade to provide the items of the ration card and also promised to monitor prices in the markets, but it did not result in any effect on that .. This increase has led to the erosion of nearly a third of the salaries of employees or those with limited income, workers and workers.

butterfly  He stressed: "The way out of this crisis is through studying and planning the rise in exchange rates and their impact on the rise of basic materials and support for the local industry, as well as providing the ration card items for the Iraqi citizen so that the demand in the markets decreases and thus prices decrease and also control the local markets by the government and be There is severe accountability for those who manipulate prices at the expense of the citizen .

butterfly  2021-04-14 04:29  Shafaq News/ Today, Wednesday, April 14, 2021, the Dinar/Dollar exchange rates retracted after a surge in the morning.

Shafaq News Agency correspondent said that Al-Kifah and al-Harithiya Central Exchanges are trading the 100 US dollar at 148000 Iraqi Dinars, compared to 149200 dinars earlier this morning.

Our correspondent added that today's selling and buying prices in the local markets dropped to 149,000 and 148000 dinars per 100 dollars.

butterfly 2021-04-14 02:24 Shafaq News / Gold prices bounced off a more than one-week low on Tuesday after data showing a sharp rise in U.S. inflation bolstered bullion's appeal as an inflation hedge and weighed on the dollar, Reuters reported.

Spot gold climbed 0.8% to $1,745.94 per ounce by 1:42 p.m. EDT (1742 GMT), after earlier dipping to $1,722.67, its lowest mark since April 5. U.S. gold futures settled up  0.9% at $1,747.6.

U.S. consumer prices rose by the most in more than 8-1/2 years in March, kicking off what most economists expect will be a brief period of higher inflation.

The U.S. dollar slipped to three-week lows after the data, making gold cheaper for holders of other currencies, while benchmark 10-year Treasury yields also eased.

Further supporting safe-haven gold were concerns raised by U.S. health officials' decision to recommend a pause in the use of Johnson & Johnson's COVID-19 vaccine, analysts said.   Among other precious metals, silver rose 2% to $25.34 per ounce.   Palladium gained 0.7% to $2,695.58 after climbing to its highest level since March 18 at $2,710.

Platinum fell 0.9% to $1,158.98 per ounce, having earlier dipped to its lowest price in two weeks at $1,151.86.

butterfly   2021-04-14 07:42   Shafaq News / The Kurdish leader, Masoud Barzani, commemorated today the 33rd anniversary of al-Anfal genocide.

Barzani said in a tweet, "The crime of al-Anfal is one of the darkest chapters of the history of Iraq’s previous regime and it is a testimony of the oppression suffered by the people of Kurdistan.

"It is, therefore, a legal and moral obligation of the Iraqi government to begin reparations for this odious crime", he concluded.

butterfly 14th April 2021 in Iraq Industry & Trade News

Iraqi Ministry of Finance and GE Mark Financial Close of Power Up Plan

The Iraqi Ministry of Finance (MoF), GE and their financial partners have celebrated the financial close -- a critical milestone that marks the final step of a loan agreement becoming effective -- of the Power Up Plan 4 (PUP4).

Under PUP4, GE will provide capital and spare parts, repairs and services to the Qudus, Khairat, Baghdad South, Hilla, Mussayab, Haidariya and Karbala power plants to help maintain more reliable generation of up to 2.7 gigawatts (GW) of electricity for the Iraqi people.

As part of these efforts, 20 gas turbines that are currently not operational at these sites will also be returned to service. GE played a key role in bringing the Iraqi Ministries of Finance, Electricity and Planning together with various financial institutions, including export credit agencies, commercial banks and others, to secure financing for the project.

H.E. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and Deputy Chairman of Etihad Credit Insurance (ECI) Board of Directors said:

butterfly   "Open economies, trade and public private partnerships can play a strong role in supporting countries to develop critical infrastructure. This is highlighted by the Power Up Plan 4, for which certain key services will be executed in and exported from GE's facilities in the UAE, allowing us the opportunity to extend financial support through Etihad Credit Insurance and providing a win-win scenario for all. It also reflects the vision of our leadership to broaden regional collaborations that can help enhance the quality of life of people across the Middle East and beyond."

Mudaffar Al-Jbori, Ambassador of Iraq to the UAE, said:

"The recent visit of Iraqi Prime Minister Mustafa Al Kadhimi has further strengthened bilateral ties between the two countries. There is also a renewed focus by the UAE to invest in Iraq and support the country's socio-economic progress. The support by ECI to PUP4 is another example of the partnership between the two nations and will further accelerate Iraq's electricity infrastructure development."

Mr. Khaled Murad, the Director General of Public Debt at the Iraqi Ministry of Finance said:

"Electricity is the foundation that modern life is built on. The financing secured through the support of GE and other partners will ensure more seamless operations at key power plants in Iraq, helping us to make better use of existing assets and to provide the electricity that people depend on to run their homes and businesses.

Looking ahead, there remains plenty of opportunity to enhance Iraq's power sector through further large-scale investments, and we look forward to continue to focus on developing such valuable collaborations in the future."

butterfly  GE is bringing the strength of its global network to support the execution of PUP4. Several key repair works for equipment such as Gas turbines will be undertaken at GE's service centre in Jebel Ali Free Zone, Dubai, UAE. This has been facilitated by ECI, the UAE's Federal export credit company, which supports projects that promote economic diversification in the UAE and reduce the dependence on oil resources as a source of income.

ECI is one of the debt reinsurers for PUP4, providing insurance coverage to the lender, JP Morgan. PUP4 is the first Iraqi project supported by ECI and opens the doors to further collaborations between the UAE and Iraq.

"Etihad Credit Insurance is committed to delivering the vision of the UAE's leadership to drive sustainable and diversified economic development. As part of these efforts, we are honored to extend our support to finance a project in Iraq for the first time, a strong statement on the regional partnerships that we continue to build. We look forward to continue evaluating opportunities for future partnerships in Iraq," said Massimo Falcioni, CEO of ECI.

GE has supported the development of Iraq's energy infrastructure for over 50 years. In the north, GE's teams helped power liberated areas with the rehabilitation of Mosul's Al Qayara Power Plant. In central Iraq, the company is helping to equip, operate and maintain the country's largest combined cycle power plant - the Besmaya Power Station.

butterfly   In the south, GE's Advanced Gas Path upgrade solution has enabled the Ministry of Electricity to decrease the downtime of gas turbines, improve availability, enhance performance and lower annual maintenance costs at the Najibiya Power Plant.

"Working closely with the Iraqi Ministries of Finance, Electricity and Planning, GE has collaborated with various private and public financial institutions from around the world to help secure over US $2.4 billion in financing since 2015 for energy sector projects across the country," said Joseph Anis, President & CEO of GE Gas Power Europe, Middle East and Africa.

"We remain committed to continuing to facilitate investments from various institutions, provide industry-leading technologies and work with our team of local professionals on-the-ground, to deliver results that strengthen Iraq's power sector further and drive growth and prosperity for everyone, no matter how challenging the circumstances."

In addition to strengthening critical infrastructure, GE also supports several local community development projects across Iraq. The company has partnered with Kapita, a grassroots entrepreneurship organization, to launch the 'Iraqi Microbusinesses' initiative - 'Taqat' in Arabic.

Through the partnership, GE will support up to 50 microbusinesses owned by young Iraqis to scale up further by providing grants, marketing and business training. GE also recently announced a program to strengthen the skills of young Iraqis by providing scholarships for five Baghdad Business School students for a 10-month educational program.

(Source: Etihad Credit Insurance)

butterfly   14th April 2021 in Healthcare, Politics The Iraqi Government has issued the following announcement regarding measures to help prevent the spread of COVID-19:

A partial curfew will be implemented during the blessed month of Ramadan from 20:00 to 05:00 the following morning for the first three weeks of Ramadan, while allowing restaurants to provide delivery service.

A full curfew on Fridays and Saturdays every week. Exempt are pharmacies, food marts, fruit and vegetable stands, and bakeries, and allowing them to carry out their work until 19:00, and allowing restaurants to provide delivery service.

Enforcing measures by health control teams and the security forces, and holding violators accountable.

Directing health departments to ask their employees in hospitals and health centres to provide proof that employees are Covid-19 negative through PCR examination results, with tests being conducted within a week or providing proof of their inoculation with a Covid-19 vaccine, to allow them to work starting 1 May 2021. Directors of health institutions will be held legally responsible for implementing and following up these procedures.

butterfly  Conducting PCR tests on all patients and their caregivers if they are unable to provide a certificate of inoculation against Covid-19.

Starting 1 May 2021, those employed in retail stores, restaurants, malls, factories and other places of business subject to health control measures will require inoculation. Health permits for the aforementioned businesses will be conditional on providing proof of inoculation of all staff. Following this date, businessowners will be held accountable and subject to fines if any employee cannot provide evidence that:

The employee has been inoculated with a Covid-19 vaccine.

Those who are unable to be inoculated such as pregnant women and other contraindications, or those who can provide evidence that they contracted Covid-19 during the last three months, by providing a positive PCR test or CT-scan will need to provide proof of a negative PCR test taken within the most recent week.

Ministry of Health monitoring authorities, with the support of the security forces, must hold accountable violators of these health measure in accordance with the Public Health Law and the decisions of the Higher Committee for Heath and National Safety.

Starting 1 May 2021 staff working in pharmacies, drug stores, laboratories and private clinics, including radiology clinics, and private hospitals will not be allowed to work if:

butterfly   They cannot provide evidence that they are Covid-19 negative through a negative PCR test conducted within the most recent week.

There cannot provide evidence of being inoculated with the Covid-19 vaccine.

Ministry of Health inspectors and the relevant associations (Doctors' Syndicate, Dentists' Syndicate, Pharmacists' Syndicate) will enforce the implementation of the above and hold violators accountable and closing the practice of violators in accordance with the laws and regulations in force.

Citizens will not be allowed entrance into ministries and government agencies of a crowded nature (pension department, traffic directorates, passport directorates, civil and national status directorates, etc.), as well as not allowing employees of the aforementioned to work starting from 20 April 2021, in case of:

They cannot provide evidence that they are Covid-19 negative through a negative PCR test conducted within the most recent week.   There cannot provide evidence of being inoculated with the Covid-19 vaccine.

All government entities not associated with a ministry and all governorates are responsible for implementing the procedures and following up with their employees and considering any violating employee in absent without payment.

Sports clubs will not allow the presence of any of the players unless they present their inoculation card for the Covid-19 vaccine.

butterfly   The Ministries of Education, Higher Education and Scientific Research, and Health will coordinate regarding conducting campaigns to vaccinate the covered groups of faculty and students.

The Hajj and Umrah Authority will not register any of the citizens wishing to perform the Umrah and Hajj pilgrimages unless it is proven that s/he has obtained the inoculation card with the Covid-19 vaccine.

Urging all government entities not associated with a ministry and all governorates to direct their employees to be inoculated with a Covid-19 vaccine.

Calling upon community leaders, students of religious sciences, tribal sheikhs, intellectuals, activists and media professionals to take their national and moral responsibility in raising awareness and not to stand watching in light of the continuing dangerous epidemiological situation.

Calling upon all media outlets, governmental and private institutions, and civil society organisations to make efforts to urge citizens to adhere to preventive measures, and to encourage citizens to take the vaccine in health centres and accredited hospitals.

Putting into force the application of the provisions of Article 240 of Penal Code No. 111 of 1969, as amended, related to violating orders and regulations, and authorizing the security forces in support of health teams and their application against citizens in violation in the event that they fail to pay fines.

The Joint Operations Command, Baghdad Operations Command, the Ministry of Interior, and the National Security Agency will continue to support health teams in their inspections and follow-up on the implementation of preventive measures in public places, restaurants, shopping malls, cafes and others during and outside of official working hours.

butterfly  Reducing working hours in public departments and institutions by one hour during the holy month of Ramadan.    (Source: Govt of Iraq)

butterfly   Well now ain't this interesting: ...... The Director of Policy Planning Department at the Saudi Foreign Ministry, Ambassador Raed Qarmali, said: The Kingdom considers any possible nuclear agreement between Iran and the major powers as a stage point that leads to the launch of broader negotiations that will include the countries of the region.

He said today, Wednesday, that Riyadh is consulting with the countries of the 5 + 1 group regarding the ongoing consultations between them and Iran in Vienna about the possibility of reviving the 2015 nuclear agreement.

Garmali stressed that: Any agreement with Iran that does not effectively address the legitimate concerns of the countries of the region will not succeed .

He continued, "We would like at least to make sure that any financial resources will be available to Tehran under the nuclear agreement ... will not be used to destabilize the region."

The Saudi official suggested the possibility of starting a nuclear agreement and later moving to a wider format that includes the countries of the region to discuss other concerns in a positive way.

And Karmali: We intend to do everything we can to make the nuclear agreement a starting point and not an end point in this process.

Doug_W   GL with that after that IS Iran

butterfly I believe the other countries are getting together and they are fed up with all the killings, etc.

butterfly Tiny steps but it is encouraging............................................The Ministry of Oil concluded the work of the licensing round for the transfer of oil derivatives in the presence of the supervising committee headed by the Undersecretary for Distribution Affairs Hamid Yunus and the participation of (58) national companies eligible to participate in bidding.

According to a statement by the ministry, the agent said that the second phase of the licensing round, which was resumed today, Wednesday, includes hubs for transporting oil derivatives for the benefit of the Ministry of Oil from Iraqi refineries to southern ports.

For his part, Deputy Director General of the Oil Products Distribution Company, Hussein Talib, said: The second phase of the oil derivatives licensing round includes 23 axes that the companies submitted their bids, and the axes tender has been referred to the winning companies according to the legal contexts, and that the bidding process for companies was publicly in accordance with the terms of public tenders.

The licensing round for transporting oil derivatives was launched last Monday in its first phase in favor of the Ministry of Electricity to transport all kinds of fuel from refineries and warehouses to electric power plants across the country.

Doug_W   @butterfly   fingers crossed

butterfly  Doug_W Me too.

butterfly   I have seen a lot of articles to where they are trying to become a more peaceful country and those around them are saying the same thing.

butterfly  US President Joe Biden announced the withdrawal of his country's forces from Afghanistan by next September.

In a televised speech, he said: It is time for the soldiers to return home and it is time to end the longest war the United States has fought.

Biden added, "His country will support the Afghan government, but it will not engage in military operations. If the Taliban attack us, we will respond to it."

He continued: Our withdrawal does not mean not to fight terrorist networks wherever they are.

NORV   :Float: :Float: :Float:

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