DINARRECAPS8 12/15/22 DINARRECAPS8 12/15/22

Thursday Morning Iraq Economic News Highlights 12-15-22

Parliamentary Finance comments on the rise in dollar exchange rates in the country

Political | 02:35 - 12/14/2022 Special - Mawazine News, the Parliamentary Finance Committee commented, today, Wednesday, on the rise in the exchange rates of the dollar to more than 151 thousand dinars per 100 dollars.

Committee member Jamal Cougar said in an exclusive interview with Mawazine News, "The committee does not know the reasons for the suspension or weakness in the currency auction, and that, unfortunately, when the supply decreases, the demand increases," noting that "the reasons for the lack of supply are not yet known."

Parliamentary Finance comments on the rise in dollar exchange rates in the country

He added, "It is the duty of the government to work on controlling prices because Iraq is a consuming country, and the goods that enter the country are all in hard currency, which necessitates the government to deal with the matter." https://www.mawazin.net/Details.aspx?jimare=214133

What Are The Solutions To Reduce The Dollar Against The Iraqi Dinar?

Money and business Economy News-Baghdad 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." Views 52 Added 12/15/2022 - 9:40 AM Updated 12/15/2022 - 2:23 PM

https://economy-news.net/content.php?id=31348

Mazhar Muhammad Salij: The Rise In Dollar Exchange Rates Is A Temporary Phenomenon

Economie 10:27 - 2022-12-15 The economic advisor to the Prime Minister, Mazhar Muhammad Salih, considered the rise in dollar exchange rates a "temporary phenomenon" and not a problem with the adequacy of foreign reserves, while stressing that the new measures had imposed a restriction or discipline on the supply of foreign currency.

Saleh said, "The rise in the exchange rate in favor of the dollar is not due to a problem with the adequacy of foreign reserves, as it is a force to intervene in the exchange market and provide sufficient supply to meet the demand for foreign exchange."

He added, "The rises that occurred are a temporary phenomenon dictated by regulatory conditions in the procedures for conducting external transfer requests (submitted by local banks) on foreign currency," noting that "work was done a while ago with an advanced (electronic) platform linking the transfer request by banks." with correspondents from international banks and relevant global compliance bodies simultaneously.

Al-Sudani's economic advisor explained: "During the start of the experiment a few weeks ago, it became clear that there were shortcomings and information deficiencies that were not consistent with the governance of the flow of transfers through the global banking system, which led to some of them being returned again or rejected in order to complete the standard submission requirements and follow the standard foundations in disclosing the final beneficiary and other things." Banking Disclosure and Compliance Requirements.

And Mazhar indicated, "It takes some time to reorganize the requests and their consistency with the global requirements for transfer through the digital platform, which has come to represent the new tool in dealing with the window of the Central Bank of Iraq for buying and selling foreign currency."

Earlier in the day, the exchange rates of the dollar recorded an unprecedented rise when the 100 US dollars reached more than 152,000 Iraqi dinars, which angered the Iraqi people who were hoping for the return of dollar prices to their previous state. https://kirkuktv.net/AR/Details/11543

The Decline In Oil Prices Confuses The Budget Accounts.. And The Finance Committee: It Will Not Be Explosive

Posted On2022-12-15 By Sotaliraq Baghdad / Firas Adnan The Finance Committee in the House of Representatives stated that the decline in oil prices will force Iraq to approve a regular budget after it was planning an explosive one, and talked about five reasons that delayed voting on the project in the government until now, including political differences.

Committee member Jamal Cougar said, "The government was supposed to send the draft budget law to the House of Representatives before the end of the legislative term."

And Cougar continued, “The parliament, and for this reason, had extended its legislative term by one month, hoping that the law would reach it, but that did not happen, and it had no choice but to go to a one-month recess that ends on the ninth of next January.” He pointed out, “The delay in sending the draft budget law was for several reasons, the first of which was that the formation of the government was delayed until the end of last October.”

Cougar explained, “The amended Federal Financial Management Law No. 6 of 2019 stipulates that sending the budget to Parliament must be on October 15, but the government was formed about two weeks after this date.”

And he stated, “The second reason is that the government is still new and has a ministerial curriculum, and it needs time until the budget is formulated in a way that is consistent with this approach,” stressing that “the third reason is the political differences between the federal government and the Kurdistan region.”

Cougar talked about “a fourth reason, represented by the political debate between the blocs that make up the State Administration Alliance that forms the government,” stressing that “every political bloc looks at the budget as an integral part of the ministries it obtained in this government.”

And he stated, "The last reason, which has confused the government's work in recent times, is represented by the drop in global oil prices. After the barrel was at $98, it is now $76." And Cougar continues, “It was expected that a barrel of oil would be included at a price of 75 dollars in the budget, and this decrease, which occurred by about 20 dollars, confused all accounts.”

And he added, "The government draft budget has not yet determined the price of a barrel of oil, especially since the decline in prices coincided with decisions issued by the Organization of Petroleum Exporting Countries (OPEC) through which it reduced the quantities sold."

Cougar believes that “talk about approving an explosive budget has become a thing of the past in light of the new oil prices,” expecting that “the budget will be normal, but it will not fall under the economic pressure that Iraq went through during the year 2021.”

And he considered, “The deficit that the budget will bring is planned and not real, and it will not be large, provided that the federal financial management law is adhered to, which stipulates that the deficit may not exceed 3% of the national product, which was estimated in Iraq at 250 billion dollars,” adding that “the deficit is according to this.” The output should range from 7 to 10 billion dollars.”

Cougar stressed, “The government cannot fulfill any promise, especially in terms of job grades, unless it is included in the budget law, and what is being talked about at the present time is just ink on paper; Because he did not obtain the financial allocation for its implementation.

And he added, “The constitution mandated the government to provide job opportunities, whether in the private or public sector, for citizens, so it either goes to support the private sector by creating many job opportunities, or it goes to launch job grades.”

Cougar added, "The budget will eventually reach Parliament, and next year will witness its approval in coordination between the blocs that formed the government."

And the Finance Committee had previously expected that the total amounts of the budget law for next year would be about 130 trillion dinars, or a little more than that, while it was likely that the deficit would be about 10 trillion dinars.

For his part, another member of the committee, Representative Mueen Al-Kazemi, stated that “the blocs affiliated with the State Administration Alliance had agreements regarding the formation of the government, and some of them related to approving the budget law and the materials contained in it.”

Al-Kazemi added, "The draft law has reached its final stages after the Ministries of Finance and Planning completed all procedures regarding their projects." He pointed out, "The legislative recess will help the government focus more on the law, as this is a space of time that can be invested in order to love your project and make it more commensurate with the general situation."

And Al-Kazemi concluded, that “all procedures have been completed, and only some points remain that are subject to discussion within the Prime Minister’s office, and we expect that they will be voted on within the government during the next two weeks, in preparation for referring them to Parliament.”

It is noteworthy that the ministerial curriculum of the government of Muhammad Shia al-Sudani included a number of paragraphs, the most prominent of which is the acceleration of the preparation of the budget in order to provide services and attention to the investment aspect and the strengthening of state resources through diversification and not being satisfied with oil revenues, which today constitute more than 90% of the general revenue of the state. LINK

Parliamentary Finance determines the reason for the government's delay in sending the 2023 budget to Parliament

Posted On2022-12-15 By Sotaliraq The Finance Committee in the House of Representatives spoke of confusion in the government executive apparatus regarding the issue of resolving the price of a barrel of oil within the draft budget law for the year 2023, which is expected to reach Parliament during the coming period.

Committee member Jamal Cougar said, "There is confusion in the government executive apparatus regarding the issue of deciding the price of a barrel of oil, within the draft budget law for the year 2023, which is expected to reach parliament within a short period."

And between: “The price of a barrel will be from 55 to 65 dollars,” explaining that “the price of a barrel of oil when the government was formed was high and approached 100 dollars, and we had expected that the price of a barrel would be from 70 to 75 dollars in the budget, but after the decline in The price of a barrel is about $20 a barrel. This has confused the government, as it cannot yet decide the price and whether this decline is the last, or another decline will follow.

The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, had expected in a previous statement that the value of the budget would be about 140 trillion, and there would be a hypothetical deficit of up to 20 trillion, while the data indicated that the price of a barrel of oil in the budget would be approximately 65 dollars. LINK

Deb Aspinwall 12/15/22 Deb Aspinwall 12/15/22

"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." ".

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.

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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

Mot: .. Ssiiiiiggggggghhhhhhhh ....

Mot: ....... short and Sweet it is! ~~~~

DINARRECAPS8 12/14/22 DINARRECAPS8 12/14/22

Wednesday Evening Iraq Parliament News Highlights 12-14-22

Obelisk Clock: Government failure, if it occurred, would be dangerous and lead to a complete regime change

December 14, 2022 Baghdad/The Obelisk: The Obelisk publishes the most prominent interactions of TV dialogues, Tuesday 12/13/2022.

The representative of the design bloc, Ali Al-Mashkoor, during a televised interview:

- Adequate space must be given to the Sudanese to work freely

- Disagreements will fade between the political forces

- The cabinet came based on political agreements

- Forming an ideal government is not possible

Wednesday Evening Iraq Parliament News Highlights 12-14-22

Obelisk Clock: Government failure, if it occurred, would be dangerous and lead to a complete regime change

December 14, 2022 Baghdad/The Obelisk: The Obelisk publishes the most prominent interactions of TV dialogues, Tuesday 12/13/2022.

The representative of the design bloc, Ali Al-Mashkoor, during a televised interview:

- Adequate space must be given to the Sudanese to work freely

- Disagreements will fade between the political forces

- The cabinet came based on political agreements

- Forming an ideal government is not possible

- The lack of success of the Sudanese will lead us to a general political failure that leads to regime change

- Engaging the Sudanese with problems related to positions that hinders the work of the government

- Evaluation The performance of officials is a good step that does not suggest an intention to exclude

- obstructing the government’s work may lead to changing the type of government in the country

- the Sudanese government is a product of the state administration coalition

- the blocs must grant freedom to the Sudanese so as not to repeat previous scenarios

- the state administration coalition is bound by the agreements that preceded the formation of the government

- there is intimidation Concerning the dispute over private grades

Member of the State of Law Coalition, Muhammad Al-Saihoud, during a televised interview:

- Iraqis look forward to the work of the government and expect more

- The government is taking rapid steps to improve services and the standard of living

- Al-Sudani listens to the blocs, but nominations for positions are chosen by a specialized committee

Member of the State of Law Coalition, Muhammad al-Shammari, during a televised interview:

- Mechanisms were put in place on the government program during its approval by the Council of Ministers

- Owning agricultural land and dealing with slums is one of the solutions offered by the government to citizens

- The issue of economic files, providing job opportunities and ending unemployment will improve the conditions of the country

- The government is serious in combating corruption and eliminating the corrupt The most prominent of its procedures is the recovery of the looted funds

– members of Parliament are awaiting the 2023 budget to study, discuss and vote on it in order to run the affairs of the country and citizens.

Spokesman for the Anti-Narcotics Directorate, Colonel Bilal Sobhi, during a televised interview:

- Drugs are more dangerous than ISIS and they started robbing society

- We offered many martyrs during the pursuit of drug dealers

- We received many reports from citizens about drug dealers

- We have cooperation with families in the rehabilitation of drug abusers

- A person becomes addicted from the first time he uses crystal

- The role of the family is important In educating their children and warning them of the dangers of drugs

- there is a lack of awareness and educational programs for citizens

https://almasalah.com/archives/33122

Preventing Dealing With The Decisions Of The Al-Kazemi Government During The Caretaker Period

The source of the news / Iraq Agency today Baghdad-Iraq today: The Cabinet decided to prevent dealing with the decisions of the previous caretaker government.

And the office of the President of the Council stated in a statement that “the Council of Ministers discussed continuing to implement Federal Court Decision No. (121 of 2022), regarding the powers of the caretaker government, and approved the recommendations of the specialized committee to (reconsider all Cabinet decisions taken from the previous government during the period of conducting daily matters). From October 8, 2021 to October 27, 2022.”

The Council approved that “the legal department in the General Secretariat of the Council of Ministers, in coordination with it and the Department of Cabinet Affairs, committees and relevant authorities, undertake the implementation of the recommendations in question, and not to act on the decisions and directives indicated in their regard (representation), except after each decision is presented to the Council of Ministers to take the necessary decision.” about it.”

You can read the news from the source here:

https://iraqakhbar-com.translate.goog/3809160?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Parliamentarian: Al-Sudani's Decision To Grant The Heads Of Local Governments A Period Of 6 Months For Evaluation Is Incorrect

2022-12-13 04:11 Shafaq News/ Member of the Iraqi Parliament, Hadi al-Salami, described, on Tuesday, the decision of the Prime Minister, Muhammad Shia' al-Sudani, to give the heads of local governments in the governorates a 6-month period to evaluate as "incorrect".

Al-Salami said, during a press conference held today, that "most of the general managers, ministers, their deputies, and governors are accused of financial and administrative corruption cases, and it was first for the Prime Minister to rely on the financial control reports and the reports of the Prevention Department issued by the Integrity Commission before making this decision," adding that Al-Sudani "He could have relied on the integrity reports for evaluation, especially since the general managers have been in their positions for many years."

He added that the Iraqi people are not a field for experiments, and the Prime Minister's decision is incorrect and incorrect, because some of the governors have been in their positions for more than 10 years.

Al-Salami continued by saying, "Our constant demand is to change the governor of Najaf due to poor services and the spread of financial and administrative corruption in the various departments of the municipal state, investment, urban planning, governorate and reconstruction." LINK

Parliamentary Legal: More Than 170 Suspended Laws In The House Of Representatives

022-12-13 08:15 Shafaq News/ A member of the Parliamentary Legal Committee revealed, on Tuesday, that there are more than 170 suspended laws in the parliament, while pointing to the vote on the budget law in the new legislative term of the parliament.

Committee member Omid Muhammad told Shafaq News agency, "There are more than 170 suspended laws in all parliamentary committees, and they have accumulated since the previous sessions of the House of Representatives," noting that "there are two reasons for delaying and enacting laws. The first is the large number of laws and their disruption from previous sessions, and the second reason is political events. which took place in the first legislative year of the current session.

He added, "In my opinion, work should be done to draw up a table of suspended laws and distribute them into categories (A, B, and C) to know the important and most important laws, including the civil service law and the amendment of the general amnesty."

And Muhammad stated, "After the completion of the cabinet, there is no justification for the House of Representatives not to legislate laws," stressing that "the new legislative term of the House of Representatives will witness the enactment of many important laws, including the general budget law for the year 2023." LINK

The Office Of The Prime Minister's Adviser For Human Rights Receives Nearly 3,000 Complaints

Political | 11:02 - 12/13/2022 Baghdad - Mawazine News The Office of the Prime Minister's Adviser for Human Rights received nearly 3,000 complaints.

The office stated, according to the official agency, that “the Prime Minister’s Adviser for Human Rights held a meeting with the head of the Public Prosecution Service to discuss mechanisms for joint cooperation and the possibility of moving complaints against human rights violators in prisons and situations regarding cases of allegations of torture that were received via e-mail to the Office of the Adviser, which amounted to Approximately (3000) complaints.”

He added, “The provision of all legal guarantees for the accused was discussed,” stressing that “all procedures and classification of complaints will be announced during the coming period.” Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=214086

Parliament intends to cut its legislative recess immediately upon the arrival of the budget law[/size]

Sumerian special 14-12-2022 | 05:00 Source: Sumerian 459 views After the Ministry of Finance finished preparing the budget law and sending it to the government, the odds indicate that the law will reach parliament within a week, whose deputies confirm the possibility of interrupting its legislative recess as soon as the law enters the corridors of the parliament.

Parliament has no objection to cutting off its legislative recess if the budget law arrives in the coming days after the government finishes preparing it, as it is likely that the law will reach Parliament during the next week.

On the other hand, deputies believe that all previous budgets did not do justice to the central and southern governorates, especially those that produce oil. LINK

DINARRECAPS8 12/14/22 DINARRECAPS8 12/14/22

Iraqi News Highlights Wednesday Afternoon 12-14-22

Tlm724 Administrator Bondlady’s Corner

The Baghdad Stock Exchange Closed At A New High At The Exchange Rate Of The Dollar

Political | 04:27 - 12/14/2022 Baghdad - Mawazine News The Baghdad Stock Exchange closed, this afternoon, its session with a new high at the exchange rate of the dollar.

Our correspondent said, "The Baghdad Stock Exchange closed at an exchange rate of 152,000 dinars for buying a category of 100 dollars and 152,500 for sale." He added, "The prices in the rest of the provinces were close to the Baghdad Stock Exchange."

Iraqi News Highlights Wednesday Afternoon 12-14-22

Tlm724 Administrator Bondlady’s Corner

The Baghdad Stock Exchange Closed At A New High At The Exchange Rate Of The Dollar

Political | 04:27 - 12/14/2022 Baghdad - Mawazine News The Baghdad Stock Exchange closed, this afternoon, its session with a new high at the exchange rate of the dollar.

https://www.mawazin.net/Details.aspx?jimare=214146

The Increase In US Crude Stocks Is Dropping Global Oil Prices

Economie| 09:00 - 12/14/2022 Follow-up - Mawazine News Oil prices fell in early trading, Wednesday, after industry data showed a significant increase in US crude stocks, instead of the decline that analysts expected, which reinforced concerns about weak demand even as supply contracted.

West Texas Intermediate crude futures fell 30 cents, or 0.4%, to $75.09 by 01:28 GMT, losing 3% gains made in the previous session. Brent crude futures fell 38 cents, or 0.5%, to $80.3 a barrel. https://www.mawazin.net/Details.aspx?jimare=214094

Al-Mandalawi: Quick And Decisive Measures To Stop The Rise In The Dollar Exchange Rate

Political | 02:22 - 12/14/2022 Baghdad - Mawazine News, First Deputy Speaker of Parliament Mohsen Al-Mandalawi announced, on Wednesday, that swift and decisive measures will be taken to stop the escalation in the exchange rate of the dollar.

Al-Mandalawi said in a tweet on Twitter, "To protect citizens and prevent this from being reflected in the Iraqi markets, the measures that will be taken by us and by the prime minister and the central bank will be quick and decisive in stopping the escalation in the dollar exchange rate."

https://www.mawazin.net/Details.aspx?jimare=214131

Parliamentary Finance Comments On The Rise In Dollar Exchange Rates In The Country

Parliamentary Fact-Finding Announces The Completion Of Its Report On The Tax Secretariat Theft File

Political | 05:25 - 12/14/2022 Baghdad - Mawazine News, the Parliamentary Fact-Finding Committee announced, on Wednesday, the completion of its report on the file of theft of tax secretariats and handing it over to the Presidency of Parliament.

The head of the committee, Representative Hanan Al-Fatlawi, said in a statement, which Mawazine News received a copy of, that "the committee formed in the Parliamentary Integrity Committee announces the completion of its report and its submission to the Presidency of the House of Representatives, and sending a copy of it to the judiciary, the Prime Minister, the Integrity Commission, and the Financial Supervision Bureau."

She added, "The committee held 37 meetings in which it hosted 33 personalities whose statements must be heard or the priorities checked with them. The committee issued many letters to obtain the priorities, and the committee puts its report, which includes many and important facts before the eyes of the judicial authority and the concerned executive authorities. The report also includes a number of recommendations." which the committee decided in order to hold the negligent ones accountable and return the stolen sums, as well as prevent any similar future thefts.

https://www.mawazin.net/Details.aspx?jimare=214150

Planning: There Is No Agreement To Change The Dollar Exchange Rate

Economie| 02:38 - 12/14/2022 Baghdad - Mawazine News The Ministry of Planning revealed, on Wednesday, the issuance of directives from Prime Minister Muhammad Shia al-Sudani related to addressing the effects of changing the exchange rate of the dollar.

Undersecretary of the Ministry of Planning, Maher Hammad Johan, said, "Prime Minister Muhammad Shiaa al-Sudani issued directives to contain the negative effects of changing the dollar exchange rate by providing job opportunities, addressing minimum wages, protecting the poor and marginalized, and increasing attention to the items of the food basket."

"The effects of changing the exchange rate are not all negative," Johan added, in an interview with the official news agency and followed by Mawazine News, stressing that "there is no agreement, whether in the House of Representatives or in the Central Bank, to change the exchange rate." Ended 29/ No. 33

https://www.mawazin.net/Details.aspx?jimare=214134

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Deb Aspinwall 12/14/22 Deb Aspinwall 12/14/22

KTFA Members "Iraq and Vietnam News" Wednesday 12-14-2022

KTFA:

Clare: Al-Sudani: The government is determined to implement its program that includes economic reform

12/13/2022

Prime Minister Muhammad Shia Al-Sudani affirmed today, Tuesday, that the government is determined to implement its program that includes economic reform and encourage the private sector.

The Prime Minister's Office stated in a statement received by {Euphrates News}, that "the latter" received the delegation of the International Finance Corporation / IFC, headed by the Regional Director for the Middle East in the Corporation, Aftab Ahmed.

The statement added that during the meeting, they discussed various aspects of financial and economic cooperation between Iraq and the International Finance Corporation.

KTFA:

Clare: Al-Sudani: The government is determined to implement its program that includes economic reform

12/13/2022

Prime Minister Muhammad Shia Al-Sudani affirmed today, Tuesday, that the government is determined to implement its program that includes economic reform and encourage the private sector.

The statement added that during the meeting, they discussed various aspects of financial and economic cooperation between Iraq and the International Finance Corporation.

According to the statement, the Prime Minister assured the Foundation's delegation, "Iraq's openness to everything that would advance the wheel of development, and strengthen regional partnership with countries and organizations, for the benefit of the Iraqi people and friendly peoples."

Al-Sudani indicated that "the government is determined to implement its program that includes economic reform, and to encourage the private sector in order to play its positive role in full, in addition to strengthening the environment that attracts investments in Iraq."

For their part, the Foundation delegation expressed their desire to partner with Iraq, and to complete cooperation in development programs, in a way that enhances the infrastructure and long-term development of the Iraqi economy, according to the statement. LINK

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Clare: PRESS RELEASE

Ishtar Gate company for E-payment (Bluepay) releases a FinTech super app in Iraq and the Middle East

December 8, 2022 - Bluepay announced its latest technology release providing its users the ability to trade US listed stocks through its mobile app, an unprecedented technology solution built and provided locally. This...

Thursday, December 8th 2022, 2:28 PM CST

December 8, 2022 - Bluepay announced its latest technology release providing its users the ability to trade US listed stocks through its mobile app, an unprecedented technology solution built and provided locally. This move followed other Fintech provided services such as the multicurrency solution that unlocked a new horizon of opportunities in the Iraqi market.

Through the multicurrency technology provided for all the app users regardless of the type of cards they possess, help them in topping their accounts by both dollars and Iraqi dinars then use the application to exchange their balances into 10 other currencies.

For instance, exchanging into Turkish lira helped travelers to turkey to possess a Turkish local-like card and helped small businesses that buy products from turkey to access E-Commerce platforms that only deal with turkish issued financial products.

Additionally, and through the app, users can now issue a Bluepay UnionPay card that helps them perform financial transactions to and from China. This opens the China corridor for small and medium businesses in Iraq and MENA to do more business through Chinese companies.

All of this comes a few months after the inauguration of Blue Platinum, the first platinum prepaid card Bluepay launched in Iraq in partnership with Visa International that aims to provide normal consumers with the platinum add-ons in addition to Bluepay other FinTech technologies such as the multicurrency feature and zero fess on online transaction.

Ali Al-Saeed, Blue CEO, mentioned “Our aim is to build the first super financial app in the region that gives freedom to users, also enable regional banks to give unique services using our technology. We have plans to expand our services in the region in Q1 2023, focusing on Saudi Arabia and UAE.

Ishtar Gate Company for E-Payment Systems and Services (Blue Pay) is an Iraq based Fintech company that provides a wide range of tech driven solutions to customers and recently got the central Bank approval to be the first and only company that have international money transfer service.

Media Contact

Company Name: Ishtar Gate Company for E-Payment Systems and Services (Blue Pay)

Contact Person: Marketing

Email: Send Email

City: Bghdad

Country: Iraq

Website: http://www.blue.com.iq LINK

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Henig: Dollar tumbles at banks

By Dat Nguyen December 13, 2022 | 01:11 am PT

The U.S. dollar plunges at commercial banks Tuesday afternoon but gained on the black market.

Vietcombank sold the dollar at VND23,750 Tuesday, down 0.38% from Monday.

Eximbank sold the greenback at VND23,750, down 0.71%. The rate at Techcombank is VND23,770, down 0.71%.

The State Bank of Vietnam maintained its reference rate at VND23,655.

The dollar is sold at VND24,230 on the black market, up 0.04%.

The dollar has gained over the dong by 3.62% since the beginning of the year.

The U.S. dollar has been supported by high and rising interest rate expectations as the Fed has hiked its benchmark funds rate to counter inflation, leaving the currency vulnerable to selling if inflation seems to be cooling, Reuters reported.

The dollar index hovered at 105.01 on Tuesday, down from a 20-year high of 114.78 in late September.

Market projections for the peak in U.S. interest rates have also slipped, with futures pricing indicating the Fed funds rate - currently set between 3.75% and 4% - staying below 5%.

The Fed is widely expected to hike the funds rate by 50 basis points on Wednesday, a step down in pace after four consecutive 75 basis-point hikes. LINK

Henig: VN-Index gains 15 points

By Dat Nguyen December 13, 2022 | 01:12 am PT

Vietnam’s benchmark VN-Index rose 1.49% to 1,047.45 points Tuesday.

The index closed 15.38 points higher after losing 19.74 points on Monday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 19.29% to VND13.24 trillion ($560.9 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 24 tickers gain.

SSI of leading brokerage SSI Securities Corporation led with a 6.5% surge, followed by STB of Ho Chi Minh City-based lender Sacombank and TCB of the largest private lender Techcombank, both up 5.9%.

VHM of property giant Vinhomes gained 5% and VRE of retail real estate arm Vincom Retail rose 3.5%.

Four blue chips fell, including VIC of biggest private conglomerate Vingroup with a 2.4% decline.

Foreign investors were net buyers to the tune of VND897.14 billion, mainly buying NVL of property developer Novaland Group and VHM.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 1.45% while the UPCoM-Index at the Unlisted Public Companies Market was up by 0.48%. LINK

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Henig: Hanoi anticipates lower economic growth in 2023

By Vo Hai December 12, 2022 | 03:00 pm PT

Hanoi authorities have targeted GRDP (gross regional domestic product) growth of 7% next year, down from an expected 8.8% this year amid many difficulties.

At a meeting on socioeconomic development plans for 2023 held Monday, the Hanoi People’s Committee also set a target of increasing GRDP per capita to some VND150 million ($6,250) next year, up from an estimated VND142 million this year.

The local government also aims to keep the consumer price index below 4.5% in 2023.Other targets set for next year include increasing investment by 10.5%, and export turnovers by 6% compared to this year.

Hanoi’s public investment in 2023 will stand at nearly VND47 trillion, said director of the municipal Department of Planning and Investment Le Anh Quan.

The capital city will also lower its number of public servants by 5% in the 2022-2026 period, according to director of the municipal Department of International Affairs Vu Thu Ha.

Chairman of the Hanoi People’s Committee Tran Sy Thanh said global turmoil is expected to remain complicated and unpredictable in terms of politics, security, economy and society in 2023. He said forecasts point to growth slowdowns, while the risk of economic recession and downward trends in the fields of finance, currency, energy and food security being likely to increase next year.

The National Assembly has set an economic growth target for 2023 at 6.5% and GDP per capita at $4,400. Vietnam’s GDP is set to expand by 8% this year, but the economy is set to face many global and domestic challenges next year, with some countries set to post declining growth or even fall into recession, chairman of the National Assembly’s Economic Committee Vu Hong Thanh said in November.

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Henig: Vietnam's economic challenges for the year ahead

December 13, 2022 | 04:33 pm PT

Can Van LucEconomist

"Things are pretty difficult these days, aren't they?" This is the most common sentiment I've heard while doing business with both domestic and foreign investors this year.

Online economic forums are crowded with discussions about the economic challenges Vietnam will face next year. An October report by the International Monetary Fund (IMF) highlighted many "headwinds" pushing against both the global and Vietnamese economies. A government report to the Vietnam National Assembly's most recent session repeated the word "difficult" over and over again.

Other utterances I often hear when talking about the future of both the local and global economic landscapes include "recession" and "broken trust."

Meanwhile, reports from various agencies and organizations claim that Vietnam's economy is recovering and strong -- bright spot regionally and globally. They say that Vietnam's credit rating has been upgraded, and that people are looking here as a destination for investment, tourism and settling down after the pandemic.

We need a more comprehensive and multidimensional assessment of Vietnam's place in the global economic situation.

Vietnam's economy recovered well in most fields and localities during 2022. Economic growth for the year is estimated to reach 8%, while average inflation increased by more than 3%, exports increased by about 12%, final consumption increased by over 10% and investment increased by about 9%. The three main reasons for this performance are: 1) Vietnam adjusted quickly to the Covid 19 pandemic, which enabled economic activities to return to normal. 2) The country's economic recovery policies patiently and persistently created macroeconomic stability and controlled inflation. And finally, 3) The growth indicators mentioned above correlate with the relatively low values of the previous year.

Next year, Vietnam’s economic progress should be bolstered by many favorable headwinds blowing from both inside and outside the country.

The favorable external context is clear. The global economy might continue to stumble next year, but this will mainly affect a few specific regions and localities (the U.S., Europe, the U.K., etc.) only mildly and for the short term. Global economic growth of about 2.2% is expected next year (down from 3% in 2022), before returning to pre-epidemic levels of 2.5 to 3%. Global inflation is easing, the price of oil, gasoline and other commodities are decreasing slightly, and the global consumer price index (CPI) is predicted to increase by about 6.5% in 2023 (from an average of 8.5% in 2022) and it might even return to 4% by 2024.

Within this context, countries (especially the U.S.) will tone down the escalation of interest rates, and might even slightly reduce interest rates by the end of 2023. Thus, external pressures on Vietnamese inflation, interest rates and exchange rates will also ease. As a result, risks in the manufacturing, financial-monetary and real estate sectors will also decrease.

Even so, external challenges are still present. The first is that the pandemic has not gone away and different countries are handling it differently. The second is that geopolitical risks and strategic competition between countries are disrupting supply chains, coupled with an increase in trade and investment protectionism. The third is that the global economy minor recession (in which China's growth remains low at about 4.5%) has reduced Vietnam's demand for international trade, investment and tourism. The fourth is that global financial-monetary, liquidity and real estate risks are still high, affecting Vietnam's financial-monetary and real estate markets due to the country's deep integration.

According to the IMF's quantitative model, the latter three challenges caused Vietnam, Singapore and Cambodia to suffer many negative effects (down about 2 percentage points of growth) as they are the three countries with the largest trade and investment openness in Asia.

In that general context, favorable internal winds include Vietnam's 2022 recovery momentum, which has created the foundation and resources for policy management next year. Vietnam's high 2022 growth rate has helped realize the nation's 5-year socio-economic development plan. Well-controlled, prudent and adaptive inflation and monetary policies (rather than just strict tightening across the board), a low budget deficit and meeting state revenue targets have allowed room for expansion in accordance with fiscal policies, etc.

Many medium and long-term development programs and plans have been approved. These include initiatives for public investment disbursement, as well as procedures for packages under the recovery program and national target programs that have been approved. All of the above will allow for the faster implementation of growth policies and projects next year. Some inadequacies in the land, finance, real estate, labor and healthcare markets have also been identified and gradually rectified. With these advantages, Vietnam has a huge opportunity to "overcome difficulties" in the coming year.

But internal headwinds are also numerous. The global economic downturn (albeit local and mild) slowed Vietnamese exports, foreign direct investment (FDI) and the mobilization of external resources. Vietnam's inflation increased due to a lag caused by high imports, resulting in the current larger-than-normal money supply. Next year is also when Vietnam will have to accept increasing some state-managed items such as minimum wages, electricity prices, as well as healthcare and education fees. The pressure of rising interest and exchange rates is still large and a challenge for macroeconomic management. State revenues will also encounter difficulties because businesses are still struggling with profits.

Policies and solutions to make the stock and real estate markets healthier have more or less negatively affected the market and investor sentiment. Legal, capital, market and labor issues for businesses will also take time to be resolved.

Therefore, if Vietnamese management is not serious and clever, achieving a growth target of 6.5%, as well as the average CPI increase target of 4.5% (as well as other goals) will be extremely challenging.

In my opinion, it is necessary to analyze and closely forecast the situation both domestically and abroad, and proactively create both immediate and long-term solutions. Analysis and predictions need to be realistic and ignore fantastical achievement obsessions in order to create these effective solutions. Violations of capital market regulations should be curbed, resolved quickly and fairly, ensuring the legitimate interests of investors.

Other tasks such as harmonizing macroeconomic policies, balancing interest rates and exchange rates, balancing the control of inflation and growth, balancing government support of both individuals and businesses while also balancing immediate and long-term budgets will be key. Removing economic obstacles -- especially in terms of legal red tape surrounding capital -- for businesses and investors will also be crucial. Accelerating the disbursement of public investment and recovery programs while resolving lingering issues will all require a willingness to take responsibility in management.

In 2023, the fight against corruption will continue. The fear of making mistakes, the shying away of taking responsibility may still take place, so we'll need flexible solutions and mechanisms to protect enterprising people. Businesses and investors should also restructure, promote digital transformation, reduce costs, increase openness, transparency, professionalism and employ better risk management.

These policies and solutions should be a crucial therapeutic medicine to help increase the self-reliance and resilience of the Vietnamese economy so we can continue to improve in 2023.

*Can Van Luc is an economist. He currently works as chief economist with state-owned lender BIDV.

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Deb Aspinwall 12/14/22 Deb Aspinwall 12/14/22

"Tidbits From TNT" Wednesday AM 12-14-2022

TNT:

Tishwash: Parliamentary Legal: The House of Representatives can cut off its recess to complete the budget law

The head of the Parliamentary Legal Committee, Muhammad Anouz, revealed the possibility of the parliament cutting its legislative recess if the government completes the draft budget law and sends it to the parliament

nouz said in a press statement followed by The Independent, that according to the constitution, if the budget law for the year 2023 arrives during the legislativeA recess, the House of Representatives can hold an extraordinary session to initiate procedures for approving the budget.

He added, "At the present time, there is no justification for the House of Representatives to cut off its legislative recess because the budget has not arrived, and there is no need for that. link

TNT:

Tishwash: Parliamentary Legal: The House of Representatives can cut off its recess to complete the budget law

He added, "At the present time, there is no justification for the House of Representatives to cut off its legislative recess because the budget has not arrived, and there is no need for that. link

Kaseyko1: Since it's looking more & more like an RI will occur first & then the RV later, just out of curiosity, has anyone heard any rumblings about how the contract rate would work with the RI? Would we be able to ask at that time or have to wait until the full RV?

Annie68: You know what Tony says.Nothing beats a failure but a try!

Saltair: Hi Kasey, I think Tony or Ray said that the Contract Rate would not come into being until the full RV. But I agree with Annie....try...!

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CandyKisses: Rasheed Bank announces the suspension of withdrawals and deposits from savings accounts

Baghdad - Mawazine News

Al-Rashid Bank announced, on Wednesday, the suspension of withdrawals and deposits from savings accounts for the purposes of the annual application.

The bank said, in a statement received by Mawazine News, that “withdrawals and deposits from savings accounts in all its branches will be stopped for the purposes of the annual application, starting from the 22nd of this month, until the second of next month, with the continuation of the usual working hours for all employees of the bank’s branches.”

The statement added, "The bank will resume all its business at the beginning of next year."

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Tishwash: Planning: Al-Sudani issued directives to address the effects of changing the exchange rate of the dollar

Today, Wednesday, the Ministry of Planning revealed the issuance of directives from Prime Minister Mohamed Shia Al-Sudani related to addressing the effects of changing the exchange rate of the dollar, while indicating that there was no agreement to change the exchange rate.

The Undersecretary of the Ministry of Planning, Maher Hammad Johan, told the Iraqi News Agency (INA), that "Prime Minister

Shia' al-Sudani issued directives to contain the negative effects of changing the dollar exchange rate by providing job opportunities, addressing minimum wages, protecting the poor and marginalized, and increasing interest in the items of the food basket." .

He added that "the effects of changing the exchange rate are not all negative," stressing that "there is no agreement, whether in the House of Representatives or in the Central Bank, to change the exchange rate." link

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Tiswhash: With the rise of the dollar.. the rise in food prices and the markets are empty of shoppers

The exchange rate of the US dollar against the Iraqi dinar is witnessing a continuous and noticeable increase, which led to disruption of commercial activity in the local markets, and contributed to the rise in food and consumer prices, especially in the wholesale markets in the Jamila commercial area in Baghdad

This area, along with the large shurja market, in the Iraqi capital, has become almost devoid of shoppers, which some merchants and economists see as linked to the rise in the exchange rate of the dollar in the parallel (black) markets.

A wholesaler in a beautiful area, Muhammad Abdel-Hussein, told Shafaq News agency, "The rise in dollar prices has definitely affected the prices of foodstuffs, whether rice, flour or vegetable oils," noting that "these materials are imported in dollars, and therefore their sale is also in dollars.”

He added that "the trader is not affected by the rise in dollar prices as much as the buyer is from the owners of retail stores and citizens," pointing out that "the only damage that falls on the trader will be in the lack of purchase quantity as a result of this rise and the hesitation of some to buy because they expect prices to drop in the future, which is What makes a beautiful market almost empty of shoppers today.”

For his part, financial and economic expert Hilal Al-Taan confirmed to Shafaq News agency, "Any rise in dollar exchange rates directly affects the market," noting that "currency and black market traders are present and taking advantage of opportunities in the absence of government control over the markets, and thus this rise It will affect citizens, especially the low-income and poor classes."

Al-Taan pointed out that "this rise affects the market's activity and its movement, because the citizen will avoid buying because of this rise," stressing that "the best solution to reduce dollar prices is the central bank's tendency to sell dollars directly to citizens through widespread bank branches and at specific prices to reduce the gap." between what the bank sells and what is currently in the market.

And the exchange rates of the dollar rose on the main stock exchange in Baghdad to more than 152 thousand dinars for every 100 dollars at a time when the central bank sells one dollar for 1460 dinars.

link

Mot: ..... UH - OOOOOOH!!!! ~~~~

CandyKisses: I TRIED TO ACT NORMAL

DINARRECAPS8 12/14/22 DINARRECAPS8 12/14/22

Wednesday Morning Iraq Economic News Highlights 12-14-22

Al-Mandalawi: Quick And Decisive Measures To Stop The Rise In The Dollar Exchange Rate

Politics | 02:22 - 12/14/2022 Baghdad - Mawazine News, First Deputy Speaker of Parliament Mohsen Al-Mandalawi announced, on Wednesday, that swift and decisive measures will be taken to stop the escalation in the exchange rate of the dollar.

Wednesday Morning Iraq Economic News Highlights 12-14-22

Al-Mandalawi: Quick And Decisive Measures To Stop The Rise In The Dollar Exchange Rate

https://www-mawazin-net.translate.goog/Details.aspx?Jimare=214131&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

"Enormous" Money Iraq's Treasury And The Continuous Increase In Cash Reserves.. How Can This Be Invested?

The source of the news /Alsumaria channel Commenting on the high levels of cash reserves, Al-Halfi suggested, “Establishing a special fund for surplus hard currency represented by (an investment fund for generations) with supervision and follow-up by a committee characterized by integrity and patriotism, which invests these Funds in building service projects, or tourism, or agricultural reclamation in order to increase the local product and export the surplus.

The economist added, in an interview with Alsumaria News, that “the establishment of the Generations Fund is very important during the next stage as a result of the increase in the number of the population with the increase in its crises and needs,” stressing that “The fund will give fruitful results after the next 10 years, and then we will move towards a free and expanded economy without relying on the economy.” rentier.”

He continued, "Some countries develop their investment funds within 15 or 20 years," noting that "the rise in Iraqi cash reserves is a golden opportunity to restore the investment wheel to Iraq."

Earlier, the Central Bank announced that the volume of currency reserves had reached its highest levels in Iraq's history, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries from retirees.

The Central Bank's advisor, Ihsan Shamran Al-Yasiri, said: “The central bank's reserves have reached their highest levels in the history of the Iraqi state and have exceeded $90 billion,” explaining that “what we are counting on is not the central bank's reserves, but rather the performance of public finances that are now enjoying a very sufficient abundance of funds.”

Al-Yasiri continued, "The central bank's work is to manage monetary policy and intervene to fix problems related to the exchange rate and others," noting that "the bank's reserves are still abundant and our procedures are rational."

And he stressed the need for “public finances to be disciplined and direct public spending to real priorities rather than scattering them,” stressing that “public finances have an opportunity to compensate all those lost during the previous years of fragile classes, social benefits and low -paid retirees, as these classes need subsidies.

Iraq continues to increase its holdings of US bonds at a time when it is witnessing huge numbers of oil revenues as a result of the rise in oil prices, as not a month passes without Iraq buying US bonds, at a value of approximately $1.6 billion per month.

The US Treasury said in its latest table, "Iraq rose two ranks to rank 32 among the countries with the largest holders of US treasury bonds of 38 countries listed in the table for countries with possessions of more than 32 billion dollars."

She added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, an increase of 3.65% over August of 2022, and an increase of 105% over the same month of last year 2021."

She pointed out that “Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third,” noting. that “the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars.”

And Iraq buys these bonds as a result of achieving a monthly financial surplus with a comparison between its expenses and revenues. Speaking of the financial surplus achieved in the current year 2022, Iraq's possession of US bonds in the last month of last year, December, amounted to $22.5 billion.

During the 9 months of this year until September, Iraq's possession of US bonds amounted to $36.9 billion, which means that Iraq bought during the first nine months of this year $14.4 billion in US bonds.

And while Iraq bought US bonds with about half of the financial surplus it achieved, the other half is divided between buying gold, which since the beginning of this year amounted to about 34 tons of gold that Iraq bought during this year so far, bringing its Reserves to more than 130 tons after it did not exceed 96 tons at the beginning of this year.

The average price of a ton of gold globally during the current year is approximately $50 million, which means that Iraq bought gold at $1.7 billion, in addition to bonds at $14.4 billion, meaning that it bought bonds and gold at more than $16 billion, and With this, it has converted more than From 50% of its financial surplus achieved so far into gold and US bonds.

You can also read the news from the source here

https://iraqakhbar-com.translate.goog/3809132?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Planning: There Is No Agreement To Change The Dollar Exchange Rate

News source / Mawazine News Economy 02:38 – 12/14/2022 Baghdad - Mawazine News The Ministry of Planning revealed, on Wednesday, the issuance of directives from Prime Minister Muhammad Shia al-Sudani related to addressing the effects of changing the exchange rate of the dollar.

The Undersecretary of the Ministry of Planning, Maher Hammad Johan, said, “Prime Minister Muhammad Shiaa al-Sudanese issued directives to contain the negative effects of changing the dollar exchange rate by providing job opportunities, addressing minimum wages, protecting the poor and marginalized, and increasing attention to the items of the food basket.”

“The effects of changing the exchange rate are not all negative,” Johan added, in an interview with the official news agency and followed by Mawazine News, stressing that “ there is no agreement, whether in the House of Representatives or in the Central Bank , to change the exchange rate.” You can read the news from the source here:

https://iraqakhbar-com.translate.goog/3809248?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en[/rtl]

A New High For The Dollar In The Baghdad And Kurdistan Stock Exchanges

2022-12-14 03:35 Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar rose today, Wednesday, in the main stock exchange in the capital, Baghdad, and in the governorates of Kurdistan Region.

Shafaq News Agency correspondent said that the two central Al-Kifah Stock Exchanges in Baghdad recorded 152,300 Iraqi dinars for 100 dollars at 12.5 pm, while the Erbil Stock Exchange, the capital of the Kurdistan Region, recorded 151,850 dinars for 100 dollars, and the Sulaymaniyah Stock Exchange recorded 151,250 Iraqi dinars for 100 US dollars.

He added that the buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 152,500 Iraqi dinars per 100 US dollars, while the purchase prices reached 152,000 Iraqi dinars per 100 US dollars.

Dollar prices witnessed a gradual rise after 14 banks were suspended by the Central Bank from entering the currency auction, as a result of the sanctions imposed on it by the US Treasury, while the bank seeks to reduce the gap between the official price and the stock exchange prices in the local markets. LINK

With The Rise Of The Dollar.. The Rise In Food Prices And The Markets Are Empty Of Shoppers

2022-12-14 04:30 Shafaq News/ The exchange rate of the US dollar against the Iraqi dinar is witnessing a continuous and noticeable increase, which led to disruption of commercial activity in the local markets, and contributed to the rise in food and consumer prices, especially in the wholesale markets in the Jamila commercial area in Baghdad.

LINK

Dollar Exchange Rates Jump To 151 Thousand Dinars On The Baghdad Stock Exchange

Posted On2022-12-13 By Sotaliraq Today, Tuesday, the exchange rates of the US dollar against the Iraqi dinar jumped to 151,000 dinars on the main stock exchange in the capital, Baghdad.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, at 1:15 a.m. today, an exchange rate of 151,000 dinars against 100 dollars.

And the prices had recorded this morning, Tuesday, an exchange rate of 150,300 Iraqi dinars for every 100 US dollars.

Our correspondent indicated that the buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 151,500 dinars for every 100 dollars, while the purchase price reached 15,500 dinars. LINK

Contractors In Basra Hold Their Hopes On The Federal Budget

with video 14-12-2022 | 05:30 Source: Sumerian 73 views Dozens of contract owners in Basra governorate went out in a demonstration to demand that they be confirmed as permanent owners, while hopes remain pinned on the new government to include them in the federal budget.

The political situation in the country exacerbated the crisis of employing large numbers of contractors in the provinceBasraThey spread the earth here in order to demand their long-awaited fixation, but the responsible authorities reneged on their promises, which prompted them to go out in protests to put pressure on the concerned authorities.

A new government has been formed, and everyone here is waiting for their justice after the previous governments failed them in the city, the richest in Iraq, where its citizens are struggling with administrative corruption that affected all aspects of the state. The demands are many, but they need to be implemented.

Hope remains hanging on the new government after its formation, and how it will deal with these large numbers of contractors and transfer them to the permanent staffing of state departments, despite the fact that the higher general budget is devoid of job grades. LINK

DINARRECAPS8 12/13/22 DINARRECAPS8 12/13/22

Tuesday Afternoon Iraq Economic News Highlights 12-13-22

How many billion dollars does Iraq need for the most urgent development? The World Bank answers

TUE, 12-13-2022, TAYSEER AL-ASADI Iraq will need $233 billion in investments to respond to its most urgent development needs by the year 2040, as it embarks on a greener and more inclusive growth path, equivalent to 6% of its annual GDP, according to a new report issued by the World Bank today, Tuesday, on the subject. Iraq.

Tuesday Afternoon Iraq Economic News Highlights 12-13-22

How many billion dollars does Iraq need for the most urgent development? The World Bank answers

Iraq faces an urgent climate challenge, and to meet it, it must move towards a "greener and more environmentally friendly" development model, especially by diversifying its economy and reducing its dependence on carbon, according to the World Bank report.

Iraq is among the five countries most vulnerable to the consequences of climate change, according to the United Nations. Decades of conflict have also affected the country's infrastructure and economy, which is highly dependent on oil, which accounts for 90% of revenues.

On Monday, the World Bank presented the report to the Iraqi authorities during a meeting in Baghdad, and it provides "an analytical basis for addressing the country's most urgent development needs, while simultaneously facing climate challenges," according to a statement issued by the organization today, Tuesday.

In addition, the report "examines the cost of the country's transition to a low-carbon economy, and discusses opportunities and reforms to pursue a greener growth model."

"Iraq faces three basic challenges: the water challenge, the desertification challenge, and the air pollution challenge," said Farid Belhadj, World Bank deputy director for the Middle East and North Africa, in an interview with France Press on the sidelines of the meeting held in Baghdad and attended by officials from the Iraqi government.

"We are trying to propose to the authorities reforms and policies," Belhadj added, adding that Iraq "has enough resources to be able to manage these challenges," but "the issue is about how to ensure that these financial resources are put in place to serve new policies to manage climate challenges."

The report presents a set of recommendations and reforms that Iraq can undertake in the medium term (within five to ten years) and others in the long term, which will not take effect until after 2030.

Among the "emergency" measures that Iraq must take, is to put an end to the electricity shortage, especially by ending the "flaring of gas" associated with oil production and its use in electricity production, as well as by "modernizing the irrigation system" and "rehabilitating dams," according to the report. .

As for the medium and long term, “the dependence of the industrial, agricultural and waste sectors on carbon must be reduced,” as well as “improving water distribution and wastewater reuse,” as well as “increasing reliance on smart agriculture” in the face of climate change.

According to Belhaj, “Iraq faces the challenge of moving away from total dependence on oil and shifting towards a more diversified economy led by the private sector and with the ability to create jobs and build human capital, along with building resilience to climate change.”

AFP https://www-non14-net.translate.goog/public/153193?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_sch=http

World Bank: Iraq Will Need 233 Billion Dollars To Meet Climate Challenges

2022-12-13 04:07 Shafaq News/ The World Bank said today, Tuesday, that Iraq is facing an urgent climate challenge, and to face it, it must move towards a "greener and more environmentally friendly" development model, especially by diversifying its economy and reducing its dependence on carbon.

This came in a new report published by the Bank today on Iraq.

According to the report, by the year 2040, "Iraq will need $233 billion in investments to respond to its most urgent development needs as it embarks on a greener and more inclusive growth field," which is equivalent to 6% of its annual GDP.

In addition, the report "examines the cost of the country's transition to a low-carbon economy, and discusses opportunities and reforms to pursue a greener growth model."

The Ministry Of Oil Is Discussing With The Kurdistan Delegation Activating Joint Committees To Solve Outstanding Problems

News source / Baghdad today - Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani received the region's negotiating delegation headed by Finance Minister Awat Sheikh Janab, with the membership of: Minister of Natural Resources Kamal Muhammad Agency, Chief of Staff of the Council of Ministers of the Region Omid Sabah, Head of Representative of the Regional Government in Baghdad and Spokesman for the Regional Government In addition to a number of advisors at the Ministry of Natural Resources.

The meeting was attended by the Undersecretary for Extraction Affairs, Karim Hattab, the Director General of the Iraqi Oil Marketing Company “SOMO”, the Director General of the Legal Department, the Director General of the Internal Control Department, the Director General of the Economic Department, the Director General of the Contracts and Licensing Department, and a number of officials in the concerned departments and the office. Media.

During the meeting, they discussed ways to activate the joint committees, linked to the main negotiating committee that was formed by the Council of Ministers, to find realistic solutions to the outstanding issues between the center and the region, especially with regard to the oil wealth management file

You can also read the news from the source here

https://iraqakhbar-com.translate.goog/3808165?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en[/rtl]

The Sudanese Financial Advisor: The 2023 Budget Will Take Into Account Investment Projects And Confronting Poverty And Unemployment

2022-12-12 07:31 Shafaq News / The financial advisor to the Prime Minister, Mazhar Muhammad Salih revealed, on Monday, that the 2023 budget will take into account "combating poverty and unemployment" and investment projects, pointing to the necessity of precaution in setting the oil price.

In an interview with Shafaq News agency, Salih said, "The delay in the 2023 budget is due to the fact that the current government was approved at the end of last October, and therefore the budget must add the goals of the government program and it needs some time to reconsider some paragraphs", expecting that the budget will be submitted over the next few years.”

Saleh added, "The budget will take into account two main issues, which are the aspect of social spending and the fight against poverty and unemployment, in addition to investment projects that lead to diversifying the economy and diversifying state revenues, as this matter needs special attention."

And Saleh stressed that "the budget must take precautions in setting the price of oil by not setting a high price, because this may lead to a drop in prices, and therefore the financial management must set reasonable prices and protect yourself from any fluctuations in oil prices."

The Parliamentary Finance Committee expected, on December 10, 2022, that the Iraqi Council of Ministers would vote on the draft general financial budget bill for the year 2023 at the end of this month.

Since the day before yesterday, Thursday, the Iraqi parliament has entered a legislative recess for a period of 30 days, and it will resume its sessions on the ninth of next January.

At the beginning of last November, the Prime Minister, Muhammad Shia’a Al-Sudani, identified the priorities that should be focused on, which are the federal budget law for the next year. Effective solution to the problem of electricity shortage, which greatly affected the life of the citizen and the economic sectors in the country.

Prime Minister Mohamed Shia Al-Sudani had previously directed the need to prepare the federal budget law for the year 2023 as quickly as possible.

The previous government headed by Mustafa Al-Kadhimi faltered in sending the draft budget law for the year 2022 before the Iraqi Parliament dissolved itself in its previous session in preparation for the early elections that took place on the tenth of October 2021.

It is noteworthy that the financial budget for the current year 2022 was not approved by the Council of Ministers and the House of Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, which escalated to dangerous levels that ended with the events of the Green Zone, with armed confrontations between supporters of the Sadrist movement and the security forces, which claimed lives. Dozens and hundreds injured.

After the end of the crisis, with the agreement of the political blocs to elect the President of the Republic and to grant confidence to the government of Prime Minister Muhammad Shia’a al-Sudani, the latter pledged that he would present the draft federal budget law for the year 2023 as soon as possible.

And a number of specialists considered that the delay in approving the budget for the current year would negatively affect investment projects and delay ongoing projects, in addition to stopping the economic activities of the market in the country in general. LINK

Details Of The Extraordinary Session Of The Council Of Ministers

Reconstruction and building Economy News – Baghdad Prime Minister Muhammad Shia al-Sudani affirmed, on Monday, that the government program represents the future vision of the government, while al-Sudani gave ministers, agents, governors and advisors a six-month period to evaluate their work.

Al-Sudani's office said in a statement, "Prime Minister Mohamed Shiaa Al-Sudani presided over an extraordinary session of the Council of Ministers, which witnessed the approval and vote on the government program."

Al-Sudani stressed, according to the statement, that "the government program represents the future vision of the government, and translates the plans and programs of the ministries that it intends to implement in the next stage."

He added, "The government's work will be evaluated in light of its approved government program, and the evaluation will include ministers, agents, governors, advisors and general managers, according to specific times."

The Prime Minister gave the general managers three months, starting tomorrow, Tuesday, after which their performance will be evaluated, according to what has been implemented on the basis of the government program, while ministers, agents, governors, and advisors will be given a period of six months, after which their work will be evaluated in light of the implementation of the government program and their commitment. its main axes and priorities.

And the statement continued, "The extraordinary session witnessed extensive discussions regarding the mechanisms for implementing the government program, and confirmation of commitment to it by ministers and advanced cadres in all ministries and agencies," noting that "the cabinet decided to form a committee from within the council to seriously follow up on the implementation of the government program, as well as Formation of sub-committees in each ministry to implement its plans within the framework of the government program.

And he continued, “In light of defining the mechanism for implementing the government program and achieving its goals, the Council of Ministers approved that the Ministry of Planning, independent bodies, entities not associated with a ministry, and governorates that are not organized in a region, commit to implementing projects and the program, in accordance with the government’s priorities contained in the ministerial platform in force, and according to specialization.”

The Ministry of Planning, the Ministry of Finance and the rest of the ministries are committed to providing allocation and financing to implement the requirements of the government program and the operational and investment budgets.

He pointed out that "the council approved the start of implementing the government program for the ministries as follows:

a. Executive procedures that do not require a financial reduction are applied immediately after the program is approved.

B. The executive procedures that need to be included and financially allocated are calculated from the date of issuance of the Federal General Budget Law for the year 2023.

Views 367 Added 12/12/2022 - 8:12 PM Updated 12/13/2022 - 12:18 PM

https://economy-news.net/content.php?id=31305

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Iraqi News Highlights Tuesday Afternoon 12-13-22

Tlm724 Administrator Bondlady’s Corner

Iraq Is Looking Forward To A Development Leap After Turning The Page On Kuwait's Compensation

Reports Economy News-Baghdad The Central Bank of Iraq announced, on Monday, December 12, that it had received the remaining amount in the Kuwait Compensation Fund, at a value of seven million and 946 thousand and 316 US dollars, and it was returned after paying the full compensation.

Iraqi News Highlights Tuesday Afternoon 12-13-22

Tlm724 Administrator Bondlady’s Corner

Iraq Is Looking Forward To A Development Leap After Turning The Page On Kuwait's Compensation

A bank statement quoted an authorized source as saying, "The amount was returned after auditing the accounts according to Security Council Resolution No. (2621) for the year (2022) concerned with ending the compensation file resulting from the invasion of the former Iraqi regime into the State of Kuwait."

The statement indicated that "Iraq revealed in 2021 that it had terminated all necessary banking arrangements with the US Federal Reserve Bank to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues, after paying the full remaining amount of compensation."

In February 2022, Mesopotamia paid the last payment of compensation related to its invasion of Kuwait during the rule of former regime President Saddam Hussein in 1990.

Iraqi governments have paid total compensation of $52 billion to individuals, companies and governments who have been able to prove that they suffered damages as a result of the invasion, according to the United Nations Compensation Commission, which oversaw the process.

In Addition To The State Budget

Iraqi specialists indicated that the compensation file was costing the country between six to seven million dollars a day, and that with the end of this harsh chapter, the value of these funds from Iraq's current exports, which amount to more than two billion dollars annually, will be added to the country's budget and fill a sufficient expenditure section. To build an electricity grid system that will revive Iraq for many years.

Professor of International Economics, Nawar Al-Saadi, says, "This reckless war was borne by the people of Iraq, and the closure of the Kuwaiti compensation file is a new page in the country's economic history, but we hope as Iraqis that these funds that were deducted from the Iraqi budget will go to development, especially investment projects that It occupies the labor and productive forces, but so far there is no serious vision in this,

although the government’s directions in the past year are to establish a sovereign fund in which the three percent that used to go to Kuwait will be deposited, to be invested at home and abroad and be a kind of buffer against the international crises that It took place in Iraq as one of the rentier states, but unfortunately that did not happen.

He added, "We were expecting a resolution from the UN Security Council at the beginning of this year to remove Iraq from the problems of Chapter VII of the United Nations Charter and to get rid of more than 40 resolutions imposed on it because of the Kuwait war, which completely shackled its economy for decades until the present time, but I am surprised." From the Council's behavior, it has not yet taken the issue seriously, although getting rid of Article VII opens up great opportunities for Iraq to integrate into the global economy.

He continued, "The isolation experienced by the Iraqi economy is very large, and the world's planes still do not reach Baghdad Airport except from some neighboring countries, which is part of the blockade that still considers Iraq a war zone with all that constitutes insurance and shipping costs and delays the transfer of technology and dealing with progress." the economist".

New Relationships

The Iraqi researcher, Saleh Lafta, says, "Handing over the remaining amount of compensation to Kuwait closes a dark page in the history of Iraq caused by Saddam Hussein's regime, by immersing the country in wars and lost adventures that bear the consequences of the people, just as the State of Kuwait bore the unjust invasion of its lands."

And he continued, "Kuwait was supposed to forgive those debts, because Iraq as a state and as a people had no hand in those adventures, and after the fall of the previous regime that caused the destruction, Kuwait could express its forgetfulness of the past and initiate in good faith not to claim those compensations, but Iraq continued to pay the money."

Which he had a great need for to be employed in reconstruction,” adding, “In any case, he paid the full compensation, and the two countries must move forward in new relations based on good neighborliness and common ties between them and forgetting the painful past, for like what Kuwait was damaged due to the invasion, Iraq suffered double harm because of those policies.” ".

Financing investment projects

For his part, the economic researcher, Bassam Raad, explained that with the completion of the audit of the accounts and the Central Bank of Iraq receiving the remaining amount in the Gulf War II Compensation Fund, all belongings will be liquidated for the account of the United Nations Compensation Committee, and the financial side of this fund will be closed permanently.

He continued, "A bleak economic page has been turned, and it began after the issuance of Security Council Resolution No. 986 in 1995, when it deducted 30 percent of the value of every barrel of Iraqi oil exported under the oil-for-food program, but this percentage was reduced to five percent after 2003." Then to three percent in 2020, until the compensation file was finally closed after Security Council Resolution No. 2621 of 2022 was issued.

And Raad demanded that this percentage of the deductions, after returning to the Iraqi economy cycle, go towards financing income-generating investment projects in order to maximize the value added to them. Views 172 Added 12/13/2022 - 12:34 PM Updated 12/13/2022 - 5:51 PM

https://economy-news.net/content.php?id=31318

The President Of The Republic Stresses The Need To Reduce Red Tape And Develop The Banking System In Iraq

Political | 02:36 - 12/13/2022 The President of the Republic stresses the need to reduce red tape and develop the banking system in Iraq https://www.mawazin.net/Details.aspx?jimare=214036

Money and business Economy News-Baghdad The World Bank proposed a set of solutions to improve the climate situation in Iraq.

The World Bank stated in a statement it received that "the World Bank Group launched yesterday the Climate and Development Report for Iraq in cooperation with the Iraqi government at a high-level round table meeting held with the Prime Ministry in Baghdad and attended by official officials and international partners, in addition to the media."

He added, "The report provides the climate and development of Iraq with an analytical basis for addressing the country's most urgent development needs and addressing climate challenges simultaneously. It also examines the cost of the country's transition to a less carbon-dependent economy, and discusses opportunities and reforms aimed at adopting a greener and more sensitive growth model." for the environment,"

pointing out that "the report provides a matrix of priority and sequential recommendations at the policy level, in addition to an agenda for climate action aimed at accelerating the pace of green, resilient and inclusive development in Iraq."

The report emphasized "giving priority to investments in green and inclusive growth paths in ways that reflect their degree of urgency, synergies and trade-offs, financing the green transition in Iraq by mobilizing both public and private capital, and deploying public financing tools in a strategic manner to benefit from private financing."

Farid Belhaj, World Bank Vice President for the Middle East and North Africa, said, according to the statement: “Iraq faces a challenge represented in moving away from total dependence on oil and shifting towards a more diversified economy led by the private sector and has the ability to create job opportunities and build human capital, along with Along with building resilience in the face of climate change,"

he said, pointing out that "climate action in Iraq must be accompanied by an improvement in labor force conditions, investments in human capital, and societal dialogue to enhance efforts to create more and better job opportunities." and to provide more sustainable livelihoods across the country.”

Views 216 Added 12/13/2022 - 12:50 PM Updated 12/13/2022 - 5:48 PM

https://economy-news.net/content.php?id=31319

Dollar Exchange Rates Are Rising Again

Economie| 10:12 - 12/13/2022 Baghdad - Mawazine News Today, Tuesday, the exchange rates of the dollar witnessed a slight increase in the local stock exchange. Selling price: 150,300 dinars per 100 dollars Buying price: 150,100 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=214010

The Continued Rise In Oil Prices In Global Markets

Economie| 08:52 - 12/13/2022 Baghdad - Mawazine News Oil prices rose by more than 1%, on Tuesday, with the continued closure of a major pipeline supplying the United States, the largest consumer of crude in the world, and amid expectations of easing restrictions of 19 in China, the second largest user in the world. Brent crude futures were up 83 cents, or 1.06%, at $78.82 a barrel by 04:24 GMT. US West Texas Intermediate crude futures also rose 72 cents, or 1.01%, to $73.89. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=214003

Central Bank: Public Finances Are Blessed With Sufficient Abundance And Have The Opportunity To Compensate All The Disadvantaged

Economie| 01:06 - 12/13/2022 Baghdad - Mawazine News The Central Bank of Iraq announced, on Tuesday, that the volume of currency reserves has reached its highest level in Iraq's history, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries among retirees.

The Central Bank's advisor, Ihsan Shamran Al-Yasiri, said, "The central bank's reserves have reached their highest levels in the history of the Iraqi state and have exceeded 90 billion dollars," noting that "what we are counting on is not the central bank's reserves, but rather the performance of public finances, which are now enjoying a very sufficient abundance of funds." money,” according to the official news agency.

He added, "The central bank is the management of monetary policy and intervention to fix problems related to the exchange rate and others," noting that "the bank's reserves are still abundant and our procedures are rational."

And he stressed the need for "public finances to be disciplined and direct public spending to real priorities instead of dispersing them," pointing out that "public finances have an opportunity to compensate all those deprived during the previous years of those with fragile classes, social benefits and low-paid retirees, as these classes We need aid for them."

Al-Yasiri stressed that "controlling the performance of collection departments from customs and taxes, oil revenues will be a secondary source for financing the general budget." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=214026

The Council Of Ministers Votes To Send 400 Billion Dinars To The Kurdistan Region

Political | 04:49 - 12/13/2022 Baghdad - Mawazine News The Council of Ministers voted, on Tuesday, to send 400 billion dinars to the Kurdistan region.

"The cabinet voted today to send 400 billion dues for the months of November and December for the salaries of the region's employees," Sarwa Abdel Wahed, head of the New Generation parliamentary bloc, said in a tweet, followed by Mawazine News.

And she added, "We hope that it will reach the hands of employees and those who are entitled to it in the region, and that people's livelihoods will not be subject to political liquidations and deals." Ended 29 / H https://www.mawazin.net/Details.aspx?jimare=214051

Al-Sudani: The Government Is Determined To Implement Its Program That Includes Economic Reform

Political | 02:04 - 12/13/2022 Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani affirmed, on Tuesday, the government's determination to implement its program and strengthen the environment that attracts investments.

The media office of Al-Sudani said, in a statement received by Mawazine News, that "Prime Minister Muhammad Shia' Al-Sudani received today the delegation of the International Finance Corporation / IFC, headed by the Regional Director for the Middle East in the institution, Aftab Ahmed," noting that "during the meeting, they discussed aspects of Various financial and economic cooperation between Iraq and the International Finance Corporation.

During the meeting, Al-Sudani affirmed, "Iraq's openness to everything that would advance the development wheel, and strengthen regional partnership with countries and organizations, for the benefit of the Iraqi people and friendly peoples," noting that "the government is determined to implement its program that includes economic reform, and encourage the private sector from In order for it to play its full positive role, in addition to strengthening the attractive environment for investments in Iraq.

For its part, the Foundation's delegation expressed "the Foundation's desire to partner with Iraq, and to complete cooperation in development programs, in a way that enhances the infrastructure and long-term development of the Iraqi economy." https://www.mawazin.net/Details.aspx?jimare=214032

The Minister Of Oil And The Delegation Of The Negotiating Region Are Discussing Finding Realistic Solutions To Outstanding Issues

Political | 02:19 - 12/13/2022 Baghdad - Mawazine News, Oil Minister Hayan Abdul-Ghani and the region's negotiating delegation discussed today, Tuesday, finding realistic solutions to outstanding issues.

And a statement by the ministry, received by Mawazine News, stated that “Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani received the region’s negotiating delegation headed by Finance Minister Awat Sheikh Janab, and the membership of each of: Minister of Natural Resources, Agency Kamal Muhammad, and the head of the office of the region’s cabinet, Omid. Sabah, the head of the representative of the regional government in Baghdad and the spokesperson for the regional government, in addition to a number of advisors at the Ministry of Natural Resources.

The statement added, "During the meeting, they discussed ways to activate the joint committees, linked to the main negotiating committee that was formed by the Council of Ministers, to find realistic solutions to the outstanding issues between the center and the region, especially with regard to the oil wealth management file."

He added, "The meeting was attended by the Undersecretary for Extraction Affairs, Karim Hattab, the Director General of the Iraqi Oil Marketing Company "SOMO", the Director General of the Legal Department, the Director General of the Internal Control Department, the Director General of the Economic Department, the Director General of the Contracts and Licensing Department, and a number of officials in the relevant departments. and the media office. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=214035

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

DINARRECAPS8 12/13/22 DINARRECAPS8 12/13/22

Tuesday Morning Iraq CBI News Highlights 12-13-22

Central Bank: Cash Reserves Have Reached Their Highest Levels In The History Of The Iraqi State

News source / Nun Agency The Central Bank of Iraq announced today, Tuesday, that the volume of currency reserves has reached its highest levels in the history of Iraq, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries from retirees.

Tuesday Morning Iraq CBI News Highlights 12-13-22

Central Bank: Cash Reserves Have Reached Their Highest Levels In The History Of The Iraqi State

The Central Bank's advisor, Ihsan Shamran Al-Yasiri, said in a press statement, “The central bank's reserves have reached their highest levels in the history of the Iraqi state and have exceeded $90 billion,” noting that “what we are counting on is Not the central bank's reserves, but rather the performance of public finances, which are now enjoying abundance.” Quite enough money.”

He added, "The Central Bank manages monetary policy and intervenes to fix problems related to the exchange rate and others," noting that "the bank's reserves are still abundant and our procedures are rational."

And he stressed the need for “public finances to be disciplined and direct public spending to real priorities instead of dispersing them,” pointing out that “public finances have an opportunity to compensate all those deprived during the previous years of those with fragile, social classes benefits and low-paid retirees, as these classes We need aid for them.”

Al-Yasiri stressed that "controlling the performance of collection departments from customs and taxes, oil revenues will be a secondary source of financing the general budget."

You can read the news from the source here

https://iraqakhbar-com.translate.goog/3808183?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Central Bank: Cash Reserves Have Reached Their Highest Levels In The History Of The Iraqi State

TUE, 12-13-2022, PM 1:46 TAYSEER AL-ASADI The Central Bank of Iraq announced today, Tuesday, that the volume of currency reserves has reached its highest levels in the history of Iraq, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries from retirees.

The Central Bank's advisor, Ihsan Shamran Al-Yasiri, said in a press statement, "The central bank's reserves have reached their highest levels in the history of the Iraqi state and have exceeded 90 billion dollars," noting that "what we are counting on It is not the central bank's reserves, but rather the performance of public finances, which are now enjoying abundance. Quite enough money.”

And he stressed the need for "public finances to be disciplined and direct public spending to real priorities instead of dispersing them," pointing out that "public finances have an opportunity to compensate all those deprived during the previous years of those with fragile, social classes." benefits and those with low salaries among retirees, as these classes we need aid for them.”

Al-Yasiri stressed that "controlling the performance of collection departments from customs and taxes, oil revenues will be a secondary source for financing the general budget."

https://www-non14-net.translate.goog/public/153198?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_sch=http

Central Bank: Public Finances Are Blessed With Sufficient Abundance And Have The Opportunity To Compensate All The Disadvantaged

And he stressed the need for "public finances to be disciplined and direct public spending to real priorities instead of dispersing them," pointing out that "public finances have an opportunity to compensate all those deprived during the previous years from those with fragile classes, social benefits and low-paid retirees, as these classes We need aid for them."

Al-Yasiri stressed that "controlling the performance of collection departments from customs and taxes, oil revenues will be a secondary source for financing the general budget." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=214026

The talk of the exchange rate invades the Iraqi sessions..and the currency auction is the window for Whitening The Dollar

December 12, 2022 Baghdad / Obelisk: The talk of the exchange rate of the dollar has become the most prominent one being circulated by Iraqis who are disaffected by the continued escalation of prices.

Citizens say that wholesale and retail stores complicate the problem because they exploit the exchange rate to increase the prices of goods and merchandise.

And the Central Bank of Iraq pumps money into the market to meet the scarcity of dollars in it, and to allow banking companies to buy dollars from it in larger quantities to cover the need.

The Iraqi politician, Intifaf Qanbar, talks about that all of Iraq's corruption is whitewashed in the dollar auction, which is the bottleneck of Iraq's corruption, considering the Sudanese prime minister, if he is serious, he should start fighting the corruption of the currency auction in the central bank.

Engineer Hamid Hadi says in a tweet on Twitter, ( @enghamed313), that the rise of the dollar is not related to the selling price in the Central Bank of Iraq, but the increase is fabricated by some private banks and exchange offices that monopolized the dollar for the purpose of reducing the level of the dollar in the market and thus increasing its price .

And Ahmed Eid says via Twitter, saying, (@ahmed33_ied), that the currency speculation operations are most intense in the Iraqi market, due to the control of speculators and the absence of state solutions to limit the rise in the exchange rate to a record value.

Abu Ali Al-Hilali, (@xdewqhgfsgbgg), considered that the rise in the price of the dollar was a political issue , in order for things to return to demonstrations and chaos.

Middle East business advisor Lina Al-Ghanawi (@LGhanawi) says that the dollar reaches 152 thousand dinars in the parallel markets , adding that, according to experts, the political reasons behind the high price of the dollar in Iraq.

Prime Minister Muhammad Shia al-Sudani directed that citizens be provided with 12 portions of the items of the food basket per year and that their amounts be included in the 2023 budget, in an attempt to address the impact of high prices on the poor classes.

And the Central Bank of Iraq had decided in December of the year 2020 to adjust the exchange rate of the US dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was 1460 dinars per dollar, while the selling price to the citizen was 1470 dinars per dollar. .

Prepared by Muhammad Al-Khafaji https://almasalah.com/archives/32689

The Bank's Cash Sales Of The Dollar Increased Amid Expectations Of A Future Decline

2022-12-12 04:53 Shafaq News/ The Central Bank's dollar cash sales increased, on Monday, to reach about 50 million dollars in today's auction, with the participation of 30 banks.

Shafaq News agency reporter stated, "The Central Bank sold today, during its auction for buying and selling the US dollar, 134 million and 98 thousand and 495 dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar.

Our correspondent added that sales were distributed between remittances and external credits, which amounted to 84,398,495 dollars, while cash sales rose to 49,700 dollars.

Our correspondent indicated that 16 banks have met requests to consolidate balances abroad, and 14 banks have met cash requests, in addition to 116 mediation companies.

The financial expert, Hilal Al-Taan, predicted, in an interview with Shafaq News agency, "a decline in the dollar's price against the Iraqi dinar, with the increase in cash sales in the bank's auction at the expense of foreign transfers."

He added, "The bank began to increase the shares of banks and exchange companies from the dollar that it announced in advance, which will lead to an increase in the supply of the dollar and to a decrease in the price of the dollar against the Iraqi dinar." LINK

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Things Won't Be So Expensive Next Year, Janet Yellen says

Things Won't Be So Expensive Next Year, Janet Yellen says — and Americans will be able to 'feel good about their finances and their personal economic situation'

Ayelet Sheffey Mon, December 12, 2022

The US Treasury secretary told "60 Minutes" she's hopeful prices would greatly decrease next year.

Janet Yellen said that while there's risk of a recession, it's not needed to bring inflation down.

Her comments came amid expectations of another interest-rate hike from the Fed this week.

The nation's top Treasury official sees things looking up for Americans in the new year.

Things Won't Be So Expensive Next Year, Janet Yellen says — and Americans will be able to 'feel good about their finances and their personal economic situation'

Ayelet Sheffey Mon, December 12, 2022

The US Treasury secretary told "60 Minutes" she's hopeful prices would greatly decrease next year.

Janet Yellen said that while there's risk of a recession, it's not needed to bring inflation down.

Her comments came amid expectations of another interest-rate hike from the Fed this week.

The nation's top Treasury official sees things looking up for Americans in the new year.

On Sunday, US Treasury Secretary Janet Yellen appeared on CBS' "60 Minutes" to chat about where she sees the economy headed, including the outlook on inflation and the labor market. While recent economic data show signs that the economy is headed in the right direction — the country added 263,000 payrolls in November — prices remain high, and the Federal Reserve has chosen to aggressively fight inflation by hiking interest rates, which some lawmakers worry could trigger a recession.

Yellen said that while there is a risk of a recession, she's hopeful that Americans will not feel a strain on their wallets for much longer.

"I believe inflation will be lower," Yellen said. "I am very hopeful that the labor market will remain quite healthy so that people can feel good about their finances and their personal economic situation."

"There's a risk of a recession," she added. "But it certainly isn't, in my view, something that is necessary to bring inflation down."

https://twitter.com/i/status/1602298206250999809

Yellen noted that gas prices and shipping costs have come down while the labor market is remaining strong, which is why she thinks that by the end of next year, there will be a "substantial reduction in inflation" as long as there isn't an "unanticipated shock."

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https://news.yahoo.com/things-wont-expensive-next-janet-154052163.html