Zig’s Place Chatroom News Monday AM 6-28-21

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Butterfly   A continuous decline in the price of the dollar on the main stock exchange …..Monday 28 June 2021 11:07.............The exchange rates of the US dollar fell against the Iraqi dinar, today, Monday, on the main stock exchange.

The price of the dollar on the Central Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 147,100 Iraqi dinars for every 100 US dollars.  And the Central Kifah Stock Exchange recorded, during its opening yesterday, Sunday, 147,300 Iraqi dinars, compared to $ 100.

butterfly   Oil prices are falling, and Brent is stable at $ 75.25 a barrel

Monday 28 June 2021 10:01..............Oil prices recorded, on Monday, a slight decline, as investors awaited the results of OPEC + this week.

Brent crude for next August settled 13 cents, or 0.17 percent, at $75.25 a barrel.

US West Texas Intermediate crude for the month of August also recorded a slight decline, reaching $74.03 a barrel, down two years, or 0.04 percent.

The group of producers, known as OPEC+, is returning 2.1 million barrels per day to the market from May to July as part of a plan to gradually loosen record production curbs last year.

OPEC + meets on July 1 and could ease supply cuts in August as oil prices rise as demand recovers.

butterfly   An economist to NINA: The tripartite summit will achieve great success by opening new horizons towards joint tripartite cooperation

Monday 28 June 2021 10:05.........The economic expert, Raad Twij, suggested that the tripartite Arab summit in Baghdad would record great success by opening new horizons towards joint tripartite cooperation.

Twig said in a statement to the National Iraqi News Agency ( NINA ) that "the motives of the tripartite summit (Egypt, Iraq, Jordan) are more economic than political, and confirm the opening of new horizons in river and land economic cooperation, calling for investing them seriously and implementing its provisions in the near time to put its fruits sooner for the Iraqi people."

He continued: "The importance of convening the summit in its third part in Baghdad, will also have a clear impact in cooling the region's conflicts and pushing towards calm and the formation of Arab unity."

Yesterday, Sunday, a tripartite summit was held in the capital, Baghdad, between Egyptian President Abdel Fattah Al-Sisi, Prime Minister Mustafa Al-Kazemi, and the King of the Hashemite Kingdom of Jordan, King Abdullah II, to discuss the political and economic conditions of these countries.

butterfly   2021-06-28 06:43   Shafaq News/ The Parliamentary Finance Committee warned the Iraqi government of a "financial collapse" as a result of not controlling the dollar's exchange rate against the Iraqi dinar.

Committee member Abdul Hadi Al-Saadawi told Shafaq News Agency, "Iraq mainly depends on oil imports, and any drop in oil prices will cause a financial collapse."

"The financial situation in Iraq has begun to collapse dramatically, without any treatment or solutions from the government," warning against of neglecting customs and border crossings revenues, as well as taxes and fees imposed on imported goods and commodities."

Al-Saadawi stressed, "Iraq's need for appropriate solutions and plans to address the financial crisis and save the local currency from financial collapse and control the market."

The Parliamentary Finance Committee had previously issued a warning to the Central Bank of Iraq following the dinar's collapse against the U.S. dollar. It demanded the government to impose measures on private banks and control the market.

Mazhar Muhammad Salih, the economic advisor to the Prime Minister, rules out changing the dollar's exchange rate against the Iraqi dinar any soon, pointing to the central bank's ability to control the exchange rate.

After the government decided to reduce the Iraqi dinar rate against the U.S. dollar in late 2020, the exchange rate of every $100 reached 145,000 dinars.

This price was fixed in the 2021 federal budget, and since then, the dollar exchange rate has not been stable.

butterfly   2021-06-28 05:30   Shafaq News/ The Central Bank of Iraq (CBI) sales in the currency auction registered about $217 million today.

Shafaq News Agency correspondent reported that CBI sales settled at $217,535,448. The weighted average rate of the dinar to the U.S. dollar was specified at 1460.

Our correspondent explained that 20 banks and 18 companies cashed out 50,460,000$, while the $167,75,448 went to boost funds abroad in the form of non-cash and credit transactions, with 36 banks meeting those requests.

Sheila   Days Like This by Van Morrison -- https://www.youtube.com/watch?v=3UUWkr4FUlo

butterfly   Al-Kazemi directs joint operations to hold an emergency meeting in order to ensure the flow of electricity supply to citizens

Monday 28 June 2021 16:23.........The Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi, during the meeting of the Ministerial Council for National Security, directed the Joint Operations Command to hold an emergency meeting within 24 hours, and to come up with an integrated strategy, in cooperation between the security leaders of joint operations and the Ministry of Electricity, in order to ensure the flow of energy supply to the Iraqi citizen. Electrical.

butterfly   Parliamentary Finance warns the Iraqi government of “imminent financial collapse”

Monday 28 June 2021 | 01:49 PM   Parliamentary Finance warns the Iraqi government of imminent financial collapseOn Monday, the Parliamentary Finance Committee warned the Iraqi government of a “financial collapse” as a result of the lack of control over the dollar’s exchange rate against the Iraqi dinar

Committee member Abdul Hadi Al-Saadawi said, “Iraq depends mainly on oil imports,” explaining that “any drop in oil prices will cause a financial collapse as a result of the government’s lack of control over the dollar exchange rate .”

Al-Saadawi added, “The financial situation in Iraq began to collapse dramatically, without any treatment or solutions for the government,” warning against “not going to customs revenues, border crossings, taxes and fees imposed on imported goods and commodities .”

Al-Saadawi pointed out, “Iraq’s need for appropriate solutions and plans to address the financial crisis to save the local currency (the Iraqi dinar) from financial collapse and control the market.”   aynaliraqnews.com

butterfly   Between the government and the Central Bank.. Members of the Finance Committee reveal the secrets of the rise in the price of the dollar

2021-06-28   Between the government and the Central Bank.. Members of the Finance Committee reveal the secrets of the rise in the price of the dollarThe exchange rate of the dollar against the dinar still casts a shadow on the societal and political sides, while a parliamentarian ruled out the possibility of returning the exchange rate to what it was during this stage, another confirmed that the vision is absent from the government and the central bank in dealing with economic inflation, noting that There is a will and a majority in the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was.

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed that there are many reasons that prevent the Central Bank from returning to the old dollar price at this stage, while indicating the possibility of achieving this and creating new job opportunities in the event of a new government coming for a period of four years.

Cougar said in a press interview that “there are many reasons that prevent the central bank from returning to the old dollar price at this stage,” noting that “among the reasons is the bank’s need to have a stable policy, given that the price hike was four months ago. It is not permissible for there to be another change in a short period not exceeding five months, given that the occurrence of this matter will confuse the market and worry investors, traders and foreign currency dealers as a result of low confidence that a new change will not occur again from the Central Bank in the future.

butterfly   Cougar added, “The other matter is related to the federal budget voted by Parliament, in which all of its schedules, accounts and contracts are based on the new exchange rate. Therefore, the contracts that will be awarded by the government will be in dinars, but at the same time, we are not a producing country, but rather an importer and consumer, which means that the effect It will be worrying for the parties that deal with the government in importing and contracting, because they do not have a true picture of the mechanism of dealing according to what price will be for the profit and loss account.

He pointed out, “This is an adventure, and we do not believe that the government will be forced to do so because of the confusion it causes at this time, especially since it is an interim government and has a primary duty to prepare for early elections. These include changing the exchange rate and creating new job opportunities.

Member of the Parliamentary Finance Committee, Abdul Hadi Mohan Al-Saadawi, indicated that the government and the Central Bank have no vision in dealing with economic inflation, while noting that there is a will and majority within the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was.

Butterfly   Al-Saadawi said in an interview with Alsumaria News, “There is a will and a majority in the House of Representatives, which does not want to return the exchange rate to what it was, and strives to maintain what has been approved by the Central Bank and the Ministry of Finance, because of the benefits of those controlling the government and the bank.” Iraqi Central.

Al-Saadawi added, “There is no vision among many political blocs or the beneficiaries of the exchange rate change, and they are continuing to raise the exchange rate and are also continuing to not automate outlets, customs and fees,” stressing that “the vision is absent from the government and the Central Bank to address the economic inflation that is taking place. in the Iraqi economy and market.

He pointed out that “the program and the paper prepared by the government, which was called the white paper, did not go beyond being ink on paper. The government or the central bank did not follow through with any promises they made for financial and economic reform, and what was applied are formal procedures far from the essence of the solution to economic problems.

” Pointing out that “the government did not release the amount of three trillion dinars allocated to address poverty in Iraq, and social welfare benefits were not passed by Parliament, so the vision is absent and reform does not exist.”   burathanews.com

butterfly   Al-Fateh Alliance in response to the bombing of Al-Qaim: Continuing dialogue with America is a waste of time

2021-06-28 02:19   Al-Fateh Alliance in response to the bombing of Al-Qaim - Continuing dialogue with America is a waste of timeShafaq News/ The Al-Fateh Alliance led by Hadi Al-Amiri considered, on Monday, the American bombing that targeted a faction of the Popular Mobilization on the Iraqi-Syrian border “in response to the review of the crowd last Saturday”, while warning the Iraqi government that the continuation of the strategic dialogue with the United States without a result “procrastination and waste.” for time.”

The coalition said in a statement received by Shafaq News Agency, “With more sadness and sorrow, we bid farewell to a new constellation of our zealous sons today in the popular crowd stationed on the borders (Al-Qaim area) in defense of the holy sites and defending the dignity, pride and sovereignty of Iraq as a result of a treacherous raid carried out by the occupying American forces.” He added, “With this cowardly operation, the US forces prove once again their aggression against the Iraqi people and their sons in the zealous popular crowd, without any right.”

The statement considered the bombing as evidence of “American anger at the successful parade held by the Popular Mobilization Forces and in the presence of the Commander-in-Chief of the Armed Forces in recent days.”

He pointed out that “this incident clearly demonstrates the absurdity of the presence of the US forces and their danger to the security and stability of Iraq, and they want Iraq to remain turbulent and a battleground for conflicts,” stressing that “the government must abide by the government curriculum that was voted on in Parliament as a condition of granting confidence to the government and that The immediate expulsion of foreign forces, especially the American ones, without procrastination.”

butterfly   He added, “It has been more than a year since the formation of the government, and it has been faltering in its place on this issue,” noting that “the continuation of dialogue sessions without results is absurd, and we consider it procrastination and a waste of time.”

The coalition called on the Commander-in-Chief of the Iraqi Armed Forces, Mustafa Al-Kazemi, to “open an investigation into this treacherous targeting of the crowd, and the Ministry of Foreign Affairs should condemn this aggression,” according to the statement.

A security source told Shafak News Agency; At dawn today, an American bombing targeted sectors belonging to the Sayyid al-Shuhada Brigades, which are affiliated with the Popular Mobilization Forces, killing 4 members and wounding an unknown number.   shafaq.com

butterfly   America on the bombing of Al-Qaim: a deterrent message to the “Iranian-backed militias”

2021-06-28 08:27   America on the bombing of Al-Qaim - a deterrent message to the Iranian-backed militiasShafaq News/ The US Secretary of State, Anthony Blinken, announced on Monday that the bombing of a Popular Mobilization headquarters in western Iraq is a deterrent message to what he described as “Iran-backed militias”.

In his statements from Rome, Blinken said, “The United States has taken necessary, appropriate and deliberate action with air strikes in Iraq and Syria with the aim of reducing the possibilities of escalation.”

The US Secretary considered that the strike on sites in Iraq and Syria was a deterrent message to the “Iranian-backed militias,” noting that the attack on these “militias” sites constituted a response to their attacks against the Americans.

Earlier today, the Iraqi National Security Ministerial Council held an emergency meeting headed by Al-Kazemi, devoted to discussing the repercussions of the American bombing of a site on the Iraqi-Syrian border.

The Council affirmed its intention to resort to all available legal options to prevent the recurrence of such “aggressions” that violate Iraq’s airspace and territory, in addition to conducting a comprehensive investigation into the circumstances of the accident and its causes, and working to prevent it from recurring in the future.

butterfly   And the US Department of Defense announced in a statement that “the US military forces launched, earlier yesterday, at the direction of President Joe Biden, precision defensive air strikes against facilities used by Iranian-backed militias in the border area between Iraq and Syria.”

“The targets were chosen because Iranian-backed militias are using these facilities during drone attacks against US personnel and facilities in Iraq. The US strikes specifically targeted operational and weapons storage facilities at two locations in Syria and one location in Iraq, all of which are located Close to the border between the two countries, these facilities have been used by many Iranian-backed militias, including Kata’ib Hezbollah and Kata’ib Sayyid al-Shuhada.”

The so-called “Coordination of the Iraqi Resistance” issued a statement about the recent bombing of the city of Al-Qaim on the Iraqi-Syrian border, and vowed “revenge” through what it described as an “open war”. shafaq.com

butterfly  A new drop in the dollar at the closing of Baghdad markets

2021-06-28 08:27   A new drop in the dollar at the closing of Baghdad marketsShafaq News/ The dollar exchange rate recorded a further decline against the dinar, on Monday, when the main stock exchange in Baghdad was closed.

Shafak News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchange closed in Baghdad at 146850 Iraqi dinars, compared to 100 US dollars.

While the price of the dollar recorded this morning 147,100 Iraqi dinars for every 100 dollars.

Our correspondent indicated that buying and selling prices also decreased in banking shops in the local markets in Baghdad, where the selling price amounted to 147,250 Iraqi dinars, while the purchase prices amounted to 146250 dinars per 100 US dollars.  shafaq.com

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