"Tidbits From TNT" Thursday Morning 1-26-2023

TNT:

Tishwash:  urgent Source: Big changes will soon affect government bank administrations

An informed source revealed that "big changes" will affect the administrations of government banks.

The source told {Euphrates News} that "big changes will affect the departments of government banks soon, in light of the government's respite for a period of 3 months that was given to them to evaluate the performance and tasks of the departments and the achievements that have been implemented within the framework of the government program that represents the future vision of the government."

Last Monday, the Prime Minister, Muhammad Shia'a al-Sudani, dismissed the governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, due to the continued rise in the dollar exchange rate and the bank's inability to curb it.
Al-Sudani assigned former bank governor Ali Mohsen Al-Alaq to run the bank by proxy.

The Prime Minister also referred the Director of the Trade Bank of Iraq to retirement and assigned Rabal al-Hamdani to manage the Trade Bank of Iraq in addition to his duties.   link

Booyah:  If dinar goes alone, not knowing when the other currencies will RV means this isn't over to enact all our projects and plans, although at the contract rate it will still be an incredible blessing for many of us.

RVAlready:  It allows the delivery system to be tested, so banks and treasury know what to expect later.  Even with one currency, we have to negotiate for the contract rate, the exchange fees, and the interest rates on any bank investments. It will be a process.

Rock1941:  are we now saying "all" currencies will not rv together??

RVAlready:  I believe Iraq got special dispensation to go before the others.

RVAlready:  Iraq by next week, the rest after the Ukraine war…Maybe Iraq by this Friday?

JudyblueEyes:  The dinar will go alone it is speculated and later in who knows when the rest of the cards will be revealed. Getting ready for Mr. Drysdale.

Red:  The protesters — mainly young people — rallied amid a heavy security presence, with many carrying the Iraqi flag and banners with slogans. One slogan read: “The politicians are the ones covering up the financial corruption for the banks.” Iraq’s Prime Minister Mohammed Shia al-Sudani on Monday accepted the resignation of the governor of the country’s Central Bank,

RVAlready:  Yes, I think Sudani has had enough of everyone standing in the way of the RI/RV/RC etc

RVAlready:  Ok, everything I said tonight was IMO. Everyone have a good time, and good luck exchanging! Hopefully, the banks will be good to us. But remember, they are in business to maximize their profits. Negotiate carefully.

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Tishwash:  With this value .. "Reuters": Qatar is moving to acquire the projects of a French company in Iraq

One of the sources said that Qatar Energy is looking to acquire a stake of about 30% in the project. Energy companies rarely own 100% of projects and prefer to enter into partnerships to reduce risks.

Oil companies are seeking to leave Iraq as a result of the weak return from revenue-sharing agreements.

When Total Energy and Baghdad signed an agreement in 2021 to build four mega projects for solar energy, gas, electricity and water in southern Iraq over a period of 25 years, hopes were high that companies would refrain from leaving the country.

Exxon Mobil, Shell and BP have sought to reduce their operations in Iraq over the past few years.

But the project, which aims to boost Iraq's economy and reduce its dependence on Iranian gas, has yet to get off the ground.

The Total Energies deal with Iraq, which requires initial investments of $10 billion, followed a visit from French President Emmanuel Macron in September 2021.

Sources close to the deal told Reuters in February 2022 that the terms of the agreement, which have not yet been announced or previously published, raised concerns among Iraqi politicians and were unprecedented for Iraq.

The deal includes the construction of a network to collect natural gas to supply local power plants through the expansion of the Ratawi field, the construction of a large-scale seawater treatment facility to boost production from other fields with water injection technology, and the establishment of a large solar power plant in Basra, but there has been little progress since then. .

Sources told Reuters last year that disagreements over the terms of the agreement threatened the project with cancellation.

Qatar Energy and Qatar's government communication office did not immediately respond to a request for comment on the talks.

Nor did Total Energies confirm the deal when contacted by Reuters.

A senior official in the Iraqi Oil Ministry said he was not aware of Qatar Energy's plans to acquire a stake in the Total Energy project.

A spokesman for the Elysee Palace said that the Iraqi Prime Minister, Muhammad Shia Al-Sudani, will travel to Paris later today, Thursday, and meet with Macron.

One of the sources told Reuters that Al-Sudani will also meet with Total Energies CEO Patrick Pouyanne in an attempt to end the crisis.

Two of the sources said that “Qatar Energy” and “Total Energies” are in talks about a stake in the project, and that there is great confidence that the deal will take place, although no final agreement has been reached yet.    link

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CandyKisses:  West Asian Federation grants Iraq the right to host the U-23 Olympic team tournament

The West Asian Football Federation (WAFF) grants Iraq the right to host the U-23 Olympic Teams Championship in June, and congratulates the Iraqi Football Association's success in hosting the Gulf 25 Championship in Basra.  

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Tishwah:  Foreign Ministry: Al-Sudani's visit to France includes the recovery of smuggled money

Today, Thursday, the Ministry of Foreign Affairs clarified the objectives of the visit of Prime Minister Mohamed Shia Al-Sudani, who is heading a government delegation to the French capital, Paris, according to the Iraqi News Agency.

The Foreign Ministry spokesman, Ahmed Al-Sahhaf, said, "The visit to Paris comes within the context of strengthening partnership, building on economic and investment opportunities, exchanging support in the areas of combating terrorism and extremism, and coordinating at the bilateral and multilateral levels to support Iraq in various international nominations, with the aim of enabling the restoration of the Iraqi role and realizing initiatives." It enhances balance and stability, in addition to enhancing joint work in the educational, cultural and banking sectors.

Al-Sahhaf added, "The visit also comes due to the continued international political support for Iraq by the French government, and the use of this distinguished relationship at the European level in the file of combating terrorism and extremist ideas, recovering smuggled funds, handing over wanted persons, and technical assistance in the file of returning the displaced."

He pointed out, "Seeking to mobilize greater participation of French companies in the reconstruction programs in a more effective manner, in reconstruction programs exclusively within predetermined projects, and trying to obtain political support to initiate the idea of ​​strengthening cooperation in banking matters."

He referred to "an attempt to obtain political support to urge the French aviation authority to complete the project within the plan to restore the direct air route Baghdad - Paris, and to lift the ban on Iraqi airlines, in addition to obtaining support for cooperation in the areas of combating corruption and recovering frozen funds and those wanted by the Iraqi judiciary and cooperation in The field of recovering smuggled antiquities, as well as cooperation with the French side in the field of preserving Iraqi property on French territory.

And he continued, "Foreign policy is moving towards devoting economic diplomacy and diversifying investment gates to Iraq, by relying on the highest levels of attraction and facilitation for the work of international companies and investors," explaining that "the visit of Prime Minister Muhammad Shia al-Sudani to Paris to confirm this."

Today, Thursday, the Prime Minister, Mohamed Shia Al-Sudani, left for Paris on an official visit    link

Mot: ........ Just How do the ""Wee Folks"" survive at times!!???

Mot: Yet another Wareness Tip from Mot - on Raising the ""Wee Folks""

Wednesday Evening Iraq CBI News Highlights 1-25-23

Wednesday Evening Iraq CBI News Highlights 1-25-23

The Project To Delete The Zeros Of The Local Iraqi Currency Between The Timing And Feasibility

SEP 24 by dggoldjax   Poll: Qasim flavor still  Tributary Sadiq / Union / Baghdad 09.24.2011 12:26:29

Raised the project to delete the zeros of the local currency, which was announced the CBI on June 22 last debate between the economic and financial circles, at the time raised the reactions of the popular wondering about the timing and economic feasibility of the process that could cost millions of dollars and spoke upheaval in the domestic market.

(Union) polled a number of experts and academics on the dialectic of the deletion of zeros from the local currency over the following survey:

Ready To Erase The Zeros

Iraqi Central Bank confirms its willingness to delete the zeros of the local currency pointing at the same time that those zeros that are added to the Iraqi currency during the last period formed a cluster of large cash hit (27) trillion dinars, and said the appearance of Mohammed Salih, adviser to the Iraqi Central Bank:

This step is jobs strategy of the Bank, and the zeros that are added to the Iraqi currency during the last period formed a cluster of large cash amounted to more than four trillion paper reviews categories of the Iraqi currency value of financial Bgt (27) trillion Iraqi dinars after it was (25) billion dinars in 1980

He pointed out: that Iraq is unable to manage this block because it is a small country where the large number of money circulating in the Iraqi market has led to a confusion in business dealings in the work of the huge banks ..

Adding that the bank has fully prepared for the deletion of zeros from Iraqi dinar and that the deletion of zeros is a national issue and may need to special legislation, although the Central Bank of Iraq is the reform of management system of currency from the heart of his work and that the deletion of zeros is one of the strategic functions of the Central Bank of Iraq, noting : that the bank was able during the last period to reduce the level of inflation to the level of one decimal after the passage of more than twenty years ..

Indicating: that Iraq was able for the first time to reduce inflation to 2%, which reflects the success of Iraq’s monetary policy.

Fear Of Counterfeit Currency

The economic researcher Abdul Salam Jumaili he says that the project to delete the zeros regulating mechanism for lifting the three zeroes to promote the value of local currency in circulation economic, external and internal which is a strategic project aimed at reducing the rates of inflation experienced by the Iraqi market, as it will free the Iraqi economy from the restrictions and damaged the value of the Iraqi dinar the World Bank’s fund ..

Adding: when we want to buy dollars in 1200 dinars, we buy at one dinar and 200 fils, while the researcher says economic Mohammed Hatem Al-Kaabi on the subject: that most of the speakers with him from supporters and opponents disagree on the subject of hand out a good idea or not so good,

everyone has the conviction that the deletion of zeros to be that is one day, but the objectors whom I am standing on the timing and feasibility of the process could cost millions of dollars may occur upheaval in the domestic market, which obviously he does not need a case of confusion,

New point:  that this amount is higher than the money, according to reports of the Central Bank of Iraq four trillion banknote is difficult to alter without constraints, the question arises how will change the currency, and alter the currency and to ensure the absence of manipulation during the switch, it is a matter numbers and zeros lift the zero set zero of sin, and confirms Al Kaabi said the draft of zeros and delete them in this way is a green light the mafias counterfeiting to put forged banknotes can be lost from the process of exchange coordination and purchase of receivables

As for the priorities do not say more than what specialists in this area because the economic situation need to follow the structural and the money that will be spent on the switch I see that the sectors of interest to the citizen first, such as the health sector and education and increase the productive capacity of the country and the adoption of incomes of a new alternative for oil will run dry one day and we will find ourselves in the desert where no water, no green in the face of good I do not think that the story is far from the political, there are those who want to say I made ​​the dinar as the dollar and this phrase will go on citizen unnoticed.

Risks to the economic security

The economic adviser in the government Hussain Anbuge: The process of deletion of zeros from the currency will increase the phenomenon of money laundering and the government is working to convince the central bank need to stop work on the implementation of the project, indicating: that the government had informed the Central Bank of the existence of a risk to economic security in the event insisted the bank to delete the the zeros of the local currency ..

He continued by saying that this process costs time and effort of the government and the central bank raises the level of fraud, some terrorist groups to carry out the smuggling of money out of the country, either the stock market in Iraq,

in turn, will be affected by the process of deletion of zeros from Iraqi dinar, according to a member of the Federation of Iraqi mediators Mohammed Ismail, who said:

that in the case of deletion of zeros from the currency will drop capital companies proportions of zeros and that, for example, if the company’s capital of three billion will be three million dinars, and in this case will be in front of the stage must be where the market closed for a certain period for the issuance of certificates of new shares to holders with the remaining number of shares on the situation and to draw:

that the process of removing the zeros economic process difficult and complex needs numbers and accurate statistics for all economic activities, not Iraq has like, banking offices, in turn expressed their discontent with the process and said that Ahmed Rikabi the banking alligator in the Karrada district, who refused to portray his place explanation: that the situation the security situation being experienced by banking offices how the country has proved to the world that he is unable to protect its banks and its markets and banking offices in which to replace its currency,

removing the zeros in the light of ignorance of the concrete of the ordinary citizen of what is happening in the financial transactions and where to go the budget years that exceeded the barrier of $ 300 billion either for offices Banking and says:

All I fear is the increasing numbers of banknotes counterfeit, and it certainly will dominate the market and spread the idea of change, and delete the zeros indicating: that the project to delete the zeros from the currency will negatively affect the Iraqi economy that has not been made ​​by careful examination by specialists in financial matters The cash is certain: if the monetary mass that remained unchanged no value to the project to delete the zeros ..

As for Dr. Bassem Jamil Antoine Vice-President of the Federation of Iraqi businessmen, he said: In fact, the meaning of the process of removing the zeros is to reduce the currency’s size I do not think that this step will be an impact on the Iraqi economy, which is noted by the recession and lack of economic growth and this process if I want her to bear fruit must be economic steps,

accompanied by economic plans are clear and the whole process needs to create and to keep logistics through seminars, meetings and workshops for Iraqi banks for the ordinary citizen to be aware of the move, so do not be fooled and be easy prey to gangs, extortion and laugh at the simple citizen,

and I think The issue needs to study more than one year so satisfying topic of research and educate all segments of the community and listen to all opinions noting: that the Iraqi currency is divided into two parts:.

the first in the banks, and the second when the citizen so we need to tightened security measures along with significant economic gains can be switched dinar from local currency to a global currency ..

And inflation and its relationship to Balasfar said inflation does not address in this way never, but addresses the scientific studies that can promote the private sector and eliminate unemployment and do the industrial sector, government and civil and promote the agricultural sector,

it is not hidden on the events of 80 percent of the basket of Iraq are imported from abroad, and this means that out of hard currency clarity the day, this with reference to the seven million Iraqis are living below the poverty line, and draws Antoine that this experience is not the result of Iraqi thought and came before them, Italy and Turkey when Khzvt zeros six but vary the timing and the necessities of phase, while the researcher believes the economic Karim Hilfi:

The Bank’s decision Central deletion of three zeroes in the long term, not a new decision on the economic scene has preceded us several countries to the special mention of Germany, adding that the situation in Iraq where there are no objective conditions for deletion, because Iraq is suffering from problems of structural economic and inflation is strong as well as high rates of How unemployment will be the deletion of zeros from the dinar, which is basically non-existent ..

And between: that Iraq is able to move forward with this decision either short or long, both saying that the explanation: it is possible to delete the zeros when the output strong and Jlth Department in addition to the absence of structural imbalances or inflation, and unemployment is less than 10 % noting:

the decision can not be implemented only after a long time, even if carried out within a year or two it will be a negative impact because the economy is in recession now.

In turn, drew the academic researcher Hilal Taan: that the project to delete the zeros is a project proposed by former Finance Minister Bayan Jabr, and can be applied and studied as a medium or long term, can not be applied only after the stability of the economic situation and improve the Iraqi dinar exchange rate ..

He Taan: The project has several requirements the most important he needs a stable economy in some respects, and needs substantial financial resources in addition to supporting the Iraqi dinar, foreign stocks, and it could be applied during the last period but for the effects of the global financial crisis on the Iraqi economy ..

Considered the economic and safety expert: The process of deletion of zeros from currency is a good step, but requires more efforts of the media of economic efforts and attributed the reason is that the market will be exposed to vibration as soon as the citizen’s belief that the deletion of zeros will affect negatively on the real value of the coin ..

She added that the real value of the coin is the value of goods received by the individual and that on the strength of the national economy, saying: These things can be achieved stability of the security situation in addition to the media a major economic effort to educate citizens about the positive results of the process of removing the zeros.

Citizens propose

Ali Faraj, 35, says that the process of deletion of zeros from the currency will contribute to raising the purchasing power, and also that efforts to raise the zeros and change the current currency contributes to the creation of a state of confusion in the monetary policy, compared to no changes in the value of purchasing real currency ..

Adding that there is a risk of leakage of foreign currency abroad after the ratification of the policy of freedom of exchange, especially as the auctions the central bank of the dollar contributed to the exit of large amounts of foreign currency from Iraq,

 while he says Muhannad Salem employees that the process of deletion of zeros from the local currency’s decision is not feasible and will not contribute to raise the value of the Iraqi dinar, while cause when applied to problems of multi-dimensional added to the problems suffered by the Iraqi economy, including confusion and disorganization of the market in buying and selling and debt among citizens as well as confuse the mental state that Stantab the citizen as a result of the emergence of a new phenomenon require adaptation by the are of the view of Hamza Hussein :

that the project and before applying it requires coinage small denominations of currency, which represent parts of the dinar, and that these currencies would cost the state large sums eight project does not enhance the value of Iraqi Dinar where it will remain a value as it is and the results are equal, is certain:

the need to deal with this project with caution because it may cause economic problems in the Iraqi Central Bank as well as presenting the project to specialists in economics to indicate their opinion on the subject before the application and noted citizen Hassan Hamid to the approval of a project that aims to raise the value of the Iraqi dinar to its former value to return is equal to $ 3.33 U.S. through several measures, including a review of the proposed import because it drains excess foreign currency and deposited with the Central Bank of Iraq as well as reducing public spending to the state and its departments with regard to import of expensive furniture can be obtained through the local market.

http://translate.google.com/translate?hl=en&langpair=ar%7Cen&u=http://www.pukmedia.com/component/content/20916%3Ftask%3Dview

"Vietnam News" posted by Henig at KTFA Wednesday 1-25-2023

KTFA:  Vietnam

Henig:  HCM City dwellers benefit from digital transformation

January, 25/2023 - 10:14

Thanks to adapting to digital transformation trends, residents in HCM City are increasingly enjoying technological conveniences in many aspects of life.

HCM CITY — Thanks to adapting to digital transformation trends, residents in HCM City are increasingly enjoying technological conveniences in many aspects of life.

Nguyễn Văn Tuấn, 52, a rental house owner in District 3, told Sài Gòn Giải Phóng (Liberated Sài Gòn) newspaper that he went to the police headquarters of Ward 12 to submit an application for temporary residence registration for a tenant.

After receiving his application, the ward officer guided him about the registration of a national public service account to submit online documents for the next time.

 “I now can sit at home and do it. The online service is both convenient and time-saving,” he said.

When high tide in the city exceeded the warning level, Nguyễn Hoàng Bạch Phụng, who works in District 1, often opens the UDI Maps application to get updates on the flood situation of the way back to her home on Phạm Hữu Lầu Street in Nhà Bè District.

“Besides providing updates on the current status the flooding, the application also helps users find a way to avoid flooded locations and even sends information and images about the flooded areas to warn people,” she said.

Before buying a house in Thủ Đức city’s Phú Hữu Ward, Lê Minh Nhựt had searched for information on housing planning at the website ttqh-thuduc.tphcm.gov.vn.

Being experienced in carrying out legal procedures related to real estate, he said: “The information on the website is quite reliable.”

In addition, people can look up information about the status of the application and they can be notified by text message about the amount to be paid, can pay online and receive the results by email or post on the website, he added.

Phạm Thị Hồng Loan, a resident living in an apartment building in Trung Sơn Residential Area in Bình Chánh District, said she will immediately send a message to Switchboard 1022 when her neighbours sing karaoke in the evening loudly.

“About an hour later, the authorised force came to remind the neighbour to turn down the loudspeaker not to disturb others,” she said.

City residents can report many issues, such as illegal construction causing environmental pollution, on five channels of the portal 1022, including call centre 1022, mobile app "Call Center 1022", portal https://1022.tphcm.gov.vn, email: 1022@tphcm.gov. vn, and the social network fanpage: https://www.facebook.com/1022.tphcm.gov.vn.

They can also report information to the district's online application. Most issues through these applications will be processed within about two hours of receiving them.

Trần Hữu Tài, chairman of the People's Committee of Ward 12 in District 3, said since the beginning of September last year, the ward has set up five groups to carry out digital transformation at the headquarters of the ward’s People's Committee, the police station and the neighbourhoods.

Police officers instructed group guides who will support residents to register for their accounts in the National Public Service portal and online administrative procedures.

The teams also help business households to use non-cash payment applications, and the Etax Mobile application to look up online taxpayer information, electronic tax transactions, and online tax payments.

Phạm Thị Thúy Hằng, vice chairwoman of District 3’s People's Committee, said before people had to spend four to six days receiving a business registration certificate after they submitted a full application.

“Thanks to the application of technology, time has shortened,” she said. The district can now return the results to people in just four working hours.

Additionally, the issuance of a tax code is done right after the business registration certificate is issued, so people can save an extra step of registering for a tax code.

For people who want to do birth, marriage, and death registrations, civil servants can look up the information on the system. If the information is legal and full, they will issue a certificate immediately, not letting people wait from one to three days as before.

District 10’s People's Committee chairwoman Nguyễn Thị Thu Hường said last year the district handled all of nearly 123,000 administrative records on time thanks to the application of technology.

The rate of applying for public services online is nearly 98 percent. More than 97 percent of people and businesses are satisfied with public online services.

Trần Hoàng Quân, director of the city’s Department of Construction, said the department will continue to use the SXD711 mobile App to complete work in the coming time.

Meanwhile, the city’s Department of Natural Resources and Environment is carrying out the programme "Digital transformation of natural resources and environment in the city" and the project "Building HCM City to become a smart city with natural resources – environment."

The department will also promote non-cash payments in the collection of fees and taxes with the aim of shortening the time for administrative procedures, creating favorable conditions for enterprises to pay taxes.

— VNS   LINK

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Henig:  Innovative start-ups in the e-commerce sector

January, 25/2023 - 08:29

E-commerce start-ups are becoming more and more popular and are considered relatively safe in the fields of innovative start-ups in Việt Nam today.

HÀ NỘI — E-commerce start-ups are becoming more and more popular and are considered relatively safe in the fields of innovative start-ups in Việt Nam today.

However, safety does not mean success because to succeed in a vibrant developing market requires effort and creative thinking.

Việt Nam is considered to have a lot of potential for start-ups in the e-commerce sector, with 72.1 million internet users, accounting for 73.2 per cent of the population, ranking 12th in terms of internet users globally by September last year.

Two years of the COVID-19 pandemic have changed the shopping habits of the majority of consumers, shifting from direct shopping to online shopping.

This is one of the important levers that create the amazing development of Việt Nam's e-commerce industry.

A report by the Ministry of Industry and Trade last year showed that the size of Vietnamese retail e-commerce market is estimated at US$16.4 billion, accounting for 7.5 per cent of the country's revenue from consumer goods and services.

The number of online shopping users reached 57-60 million people, accounting for 74.8 per cent of internet users, last year, of which the online shopping value of a Vietnamese person is about $260-285.

In addition, with a growth rate of 20 per cent per year, Việt Nam is also ranked by eMarketer, an American market research company, in the group of five countries with the world's leading e-commerce growth rate.

The booming e-commerce market has great potential, creating many opportunities for Vietnamese start-ups.

Starting a business in e-commerce is also in line with the Government's policy of promoting the development of the digital economy.

The legal framework for e-commerce activities is increasingly complete; start-ups are encouraged, and favourable conditions and open mechanisms created for development.

On the other hand, Việt Nam's e-commerce market is still quite young, so there is still a lot of room for Vietnamese start-ups.

In addition to many advantages, start-ups in the field of e-commerce also face many obstacles.

There is the high level of competition due to the very early participation of big names such as Shopee, Lazada, Amazon or Tiki and Sendo.

In addition, there are obstacles coming from an underdeveloped payment system, goods infrastructure, packaging, warehousing, goods rotation, customs clearance, and the lack of trust of a part of consumers when buying online.

However, the key point of an innovative start-up is an idea, in which difference is a decisive factor, so the challenge is not small coming from the start-ups themselves, requiring creativity and right-oriented thinking.

At the same time, they must find sustainable solutions to have new users and retain existing users.

Although there is no exact number of start-ups in the field of e-commerce, it is estimated that about 387 start-ups were formed and operated with certain success.

Compared to the development potential of Việt Nam's e-commerce, it is thought that this number is still quite modest.

Therefore, it is necessary to continue promoting start-ups, creating a vibrant market with healthy competition, contributing to making this field one of the key areas of the digital economy.

— VNS   LINK

Henig:  Urban planning, management to be focus in 2023: construction minister

January, 25/2023 - 09:23

Minister of Construction Nguyễn Thanh Nghị talks to Vietnam News Agency on the growth of the sector in 2022 and its priorities for 2023 and onwards, especially with regards to urban planning and management.

Minister of Construction Nguyễn Thanh Nghị spoke to Vietnam News Agency on the growth of the sector in 2022 and its priorities for 2023 and onwards, especially with regard to urban planning and real estate.

2022 is a year of many difficulties, but the construction industry has achieved good growth, all things considered. How do you evaluate the results of the construction industry achieved in the past year?

2022 is a year of recovery, a foundation year in the realisation of the goals of the Resolution of the 13th Party National Congress and the five-year socio-economic development plan 2021-26. But Việt Nam’s economy has had a lot of complex, unprecedented problems to deal with, with intertwining advantages and headwinds, while climate change and natural hazards continue to grow in intensity and unpredictability, and as the global economic and political situation are highly volatile.

In that context, with the attention and leadership of the Party, the National Assembly, the Government, the Prime Minister, the close coordination of central and local ministries, along with the efforts from workers, officials, employees and the business community in the whole industry, in 2022, the construction industry has overcome difficulties and challenges, met and even exceeded all the main goals and targets.

The industry recorded a growth rate of 8.17 per cent, significantly higher than the objective of 5.6 per cent. The urbanisation rate countrywide has hit 41.7 per cent, 1.2 per cent higher than 2021. The proportion of the urban population having access to clean water through a centralised water supply system reached 94.2 per cent, up 2.2 per cent compared to the year before.

The average floor space for each person in the country reached 25.5sq.m., up 0.5sq.m compared to 2021.

The effectiveness and efficiency of State management in the fields assigned by the Government are enhanced. At the same time, legal institutions in construction continued to be improved with higher quality, contributing to a more favourable, open, and strongly decentralised environment for the local governments.

Planning, architecture and urban development management activities continue to receive more attention and be implemented effectively. Construction investment management also witnessed positive changes, with the quality of the works basically under supervision. Inspection, examination, verification, design appraisal, acceptance testing and capacity management of construction entities is strictly carried out, contributing to the prevention of loss and waste.

While the construction material market has seen serious fluctuations, especially a spike in costs in the early half of 2022, thanks to many efforts from the Ministry of Construction and localities, the market has stabilised from the third quarter of 2022.

The real estate market logged growth in the first months of 2022, but slowed down in the second half of the year due to many difficulties, especially the shortage of supply, lack of social housing, housing for low- and middle-income people, difficulties in mobilising and accessing capital sources, while corporate bonds in real estate began to reveal serious shortcomings and risks.

Construction authorities and the Government are proposing many sets of measures to develop a healthy, stable real estate market in 2023.

On January 24, 2022, the Politburo’s Resolution No.06/NQ-TW on the planning, building, management and sustainable development of urban areas in Việt Nam towards 2030, with a vision to 2045, was released. This is the first time the Politburo has had a thematic resolution on urban management and development. How has the Ministry of Construction participated in the making of the resolution and how does it plan to implement this?

We welcome the resolution, it affirms the role of urban development in the development of the country, and it also lays out strategic orientations – accompanied by specific tasks – that need to be done from now until 2030.

The construction ministry has then worked with other ministries, agencies, and localities to build the Government’s Resolution No.148/NQ-CP – which was issued on November 11, 2022 – on the implementation of the Politburo’s resolution.

The Government has set out its vision, specific goals and 33 specific tasks, along with the focal agency and coordinating agencies, the time of completion and deliverables so that the Government, ministries, and local authorities could implement the overall and specific objective of the Politburo’s resolution.

In order for Politburo’s Resolution No.06-NQ/TW to be widely disseminated to cities’ authorities throughout the country, the Ministry of Construction has coordinated with the Central Economic Commission and the Party Central Commission for Education and Information to organise conferences on the resolution – the Việt Nam Urban Sustainable Development Forum, along with three symposiums, and the National Urban Conference in 2022.

The world economy is forecast to have many unpredictable developments, affecting the country's economy, including activities of construction enterprises and the real estate market. Could you please tell me, what orientations and solutions does the Ministry of Construction have for 2023 and the following years?

In 2023 and the coming years, the construction industry will continue to focus on three key breakthroughs identified for the 2021-2026 term of the industry, which are perfecting the legal institution on construction to strengthen state management, at the same time creating a favourable and open environment for people and businesses, further decentralisation (to local governments) to remove bottlenecks that hinder the development of the industry and the operation of enterprises.

In addition, the Ministry of Construction will focus on urban development planning and management, improve the quality of planning to match the mindset, vision, and forecasting while ensuring feasibility. We will exercise strict control in the stages of planning appraisal and adjustment, as well as strengthen local inspection and guidance activities, and rectify local authorities’ capacities and conduct in planning issues.

At the same time, legal regulations and management tools will continue to be perfected to strictly control the process of synchronous urban development – one that goes in tandem with industrialisation, modernisation, rural development, enhancing the competitiveness of urban areas, effectively using resources, especially resources from land, from urban space development.

— VNS   LINK

Iraqi News Highlights Wednesday Afternoon 1-25-23

Iraqi News Highlights Wednesday Afternoon 1-25-23

Tlm724 Administrator Bondlady’s Corner

A Demonstration Begins In Central Baghdad To Protest Against The High Exchange Rate Of The Dollar

Economie| 11:17 - 01/25/2023   Baghdad - Mawazine News  Dozens of people demonstrated in Al-Rusafi Square in the center of the capital, Baghdad, on Wednesday, to protest against the high exchange rates of the dollar against the dinar.

It is worth noting that the Sudanese Prime Minister, Muhammad Shia'a, confirmed, last Saturday, that his government continues to support the Central Bank to restore the exchange rate of the dollar to its official level.

And the Central Bank's advisor, Ihsan Shamran Al-Yasiri, said, on January 10, that "the turmoil in the dollar prices is a temporary situation, and within two weeks, the dollar price will return to its normal stable position of 1470, that is, before the end of the current month of January." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=217501

The President Of The Republic: Iraq Has Promising Investment Opportunities, And We Hope That The Budget Will Be Approved Soon

political| 12:49 - 01/25/2023  Baghdad - Mawazine News, President of the Republic, Abdul Latif Jamal Rashid, received, on Wednesday, a number of ambassadors of Arab countries accredited to Iraq.

Rashid stated, according to a statement received by Mawazine News, that "the results of forming the current government are fruitful despite the time it took to form, and its program is serious and prioritizes, especially with regard to providing the necessary services and rebuilding infrastructure, and this is what will be achieved in light of the stability and peace that Iraq is experiencing." Now, after years of wars, terrorism and violence.

The President of the Republic touched on his participation in the Arab Summit Conference in Algeria, praising "the decisions that resulted from the summit, the role of the Arab League, and the success of sister Algeria in organizing the summit," stressing that the Arab leaders and presidents welcomed the formation of the government and Iraq's role in resolving outstanding issues between the Arab countries.

.He added, "Preserving the environment has become a global issue and the countries of the region are very interested in improving the environment and addressing water scarcity," pointing out that "European countries in the Davos Economic Forum were interested in Iraq's participation and expressed their willingness to cooperate, as they consider our region rich, civilized and important. There was also interest from Participants in the Davos conference on democracy and its importance.

He pointed out, "Iraq has promising investment opportunities, but we need to rehabilitate the infrastructure and should coordinate and cooperate with the Arab countries to create an investment environment in Iraq, and we need in this field bilateral and tripartite cooperation with the Arab brothers."

And he continued, "We hope, within a short period to come, to approve the budget that has not been approved for three years, which caused delays in the completion of vital projects," calling on the ambassadors to "encourage companies in their countries for the purpose of investing in Iraq."

Regarding the security situation, the President of the Republic affirmed that "the situation is stable, but unfortunately the media did not convey this image of Iraq," calling on the ambassadors to "convey the true picture of Iraq and the state of safety in its cities," pointing out that "presidents, leaders and politicians expressed their support for Iraq in His efforts to consolidate security and stability and their desire to establish effective relations with him.

In their turn, the ambassadors of the Arab countries affirmed, "their countries' keenness and desire to expand the horizons of cooperation in a way that secures the supreme interests of all and achieves the aspirations of the peoples for prosperity and progress."

And the Emirati ambassador stated that "his country is keen to strengthen relations between the two countries," stressing that "there are companies ready to work in Iraq."

The Saudi and Kuwaiti ambassadors touched on "the importance of investing in Iraq and working to develop an investment protection agreement in a way that motivates the investor to start direct steps to work."

The Saudi ambassador considered that "the economy has become a substitute for the use of military force," pointing to "the necessity of coordination, cooperation and facilitation of procedures in order to develop investment work and exploit available opportunities."

For his part, the Lebanese ambassador pointed to "the need to support the private sector, which needs real partnership with the public sector." https://www.mawazin.net/Details.aspx?jimare=217507

An Economist Explains The Reasons For The Decline In Dollar Exchange Rates

Posted On2023-01-25 By Sotaliraq  Today, Tuesday, economist Nabil Al-Marsoumi explained the reasons for the decline in the price of the dollar against the Iraqi dinar.

Al-Marsoumi said in a post entitled “Why did the price of the dollar decrease against the dinar?”, “The Central Bank of Iraq’s sales for today: –  Transfers and credits = 17.374 million dollars.

Cash sales = $59.900 million.  Total sales = 77.274 million dollars.

The economist added, “There is no change in the fundamentals, cash sales are still the largest, and remittances and credits are the lowest, and this means that the decline in the dollar exchange rate is not linked to the application of compliance rules for the electronic platform developed by the US Federal Bank, but rather it is linked to good market sentiment and psychological motives resulting from the procedures.” the last government and replace the governor of the Central Bank of Iraq.   LINK’

The Minister Of Finance Is Discussing With A Number Of Deputies The Maturation Of The Necessary Laws To Achieve The Comprehensive Development Of The Economy

Wednesday 25 January 2023 16:07 | Economical  Number of readings: 140  Baghdad / NINA / - The Minister of Finance, Taif Sami Muhammad, discussed with a number of deputies issues related to the financial and economic aspects and the maturity of the laws necessary to achieve the comprehensive development of the economy.

The ministry said in a statement: "The minister met a number of members of the House of Representatives and discussed with them axes related to the financial and economic aspects."

She added: "The meeting focused on the need to redouble efforts between the ministry and the Parliamentary Finance Committee, and to follow up on the most important basic programs included in the draft of the next budget bill, in order to reach common visions and mature the necessary laws according to what is imposed by the goals of the comprehensive development of the Iraqi economy."/ Ended h    https://ninanews.com/Website/News/Details?key=1029061

The Minister Of Oil Directs The Resumption Of Equipping (275) Factories In The Construction Sector Related To Fuel

Wednesday 25 January 2023 18:02 | Economical Number of readings: 57  Baghdad / NINA / - The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, directed today, Wednesday, to resume processing 275 factories in the construction sector for fuel.

A statement by the Ministry of Oil stated, "Abdul-Ghani directed the resumption of supplying 275 private sector factories with the prescribed quotas of fuel, which were suspended from production for various reasons, during his chairmanship of the leadership operations meeting."

Abdul-Ghani said, according to the statement, that "the ministry is keen to support private sector factories with fuel, in order to increase national production, and provide primary and basic construction materials for citizens, and for the various service sectors."

The statement indicated, "The covered construction sector includes brick factories, thermostone, gypsum, porc, and others."/ End 2    https://ninanews.com/Website/News/Details?key=1029086

Economist: The Cabinet's Decision To Use Points Of Sale Collides With Society's Culture

 Money and business    Economy News – Baghdad Banking expert, Mahmoud Dagher, considered that the Cabinet's decision to force institutions and stores to use points of sale is an important step.

Dagher said in an interview with "Al-Iqtisad News", that "the problem facing this decision is the culture of society that loves to use cash instead of electronic payment tools."

He added, "This decision will withdraw part of the money hoarded in homes and put it in the banking sector," stressing that "the decision needs a long period to change society by encouraging it through discounts and others."   https://economy-news.net/content.php?id=32089

Dollar Exchange Rates Are Rising Again In The Iraqi Market

Economie| 10:33 - 01/25/2023   Baghdad - Mawazine News  Today, Wednesday, the exchange rates of the dollar witnessed an increase in the local stock exchange. Selling price: 161,000 dinars per 100 dollars

Buying price: 160,000 dinars per 100 dollars  https://www.mawazin.net/Details.aspx?jimare=217496

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KTFA Members "Riots, Banking and More Iraq News" 1-25-2023

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Henig:  Economist: Appointing al-Alaq is a positive step to gain the confidence of the Federal Reserve Bank and the US Treasury

Baghdad / NINA / - The economist, Hammam Al-Shamma', confirmed: The appointment of Ali Mohsen Al-Alaq as governor of the Central Bank of Iraq is a positive step for gaining the confidence of the Federal Bank and the US Treasury Department.

He told the National Iraqi News Agency / NINA /: The change of the former governor is a completely positive step because he made mistakes by giving some the lion's share in the transactions of buying and selling the currency.

Al-Shamaa added: The appointment of Ali Al-Alaq, who was an honest and honorable patriotic conservative, gained great confidence from the Federal Bank and the US Treasury Department, and with his wisdom and experience, things will be restored to the right place .

Yesterday, Monday, the Prime Minister, Muhammad Al-Sudani, dismissed the Central Bank Governor, Mustafa Ghaleb Makhaif, at his request. Ali Mohsen Al-Alaq was appointed to replace him.   LINK

Clare: Human waves storm Al-Rasheed and approach the Iraqi Central Bank.. Pictures

1/25/2023

The demonstrations that took place on Wednesday morning continue in front of the Central Bank of Iraq in the center of the capital, Baghdad, to demand the stability of the dollar exchange rate and to save the dinar from collapse.

Pictures taken by Shafaq News agency showed hundreds of demonstrators forming human waves, who were met by the security forces of the law enforcement forces.

The demonstration began in the morning, with the participation of hundreds of Baghdad residents, as well as others who came from various Iraqi governorates, starting from Al-Rusafi Square, to extend to the depth of Al-Rashid Street opposite the Arab Market, where the Iraqi Central Bank building and the Iraqi government banks complex are located. 

The demonstrators, who numbered about 800, became about 100 meters away from the Central Bank building, fortified with heavy security forces.

Shafaq News agency reporter stated that the Organizing Committee for the demonstrations near the Central Bank called on the demonstrators to withdraw from this afternoon, with a delegation sent to the Governor of the Central Bank to propose solutions with a specific time limit.

 The demonstrators are calling for an end to speculation in the dollar's exchange rates, urgent economic measures to be taken to restore the dollar's exchange rate within the official context, and to hold the corrupt accountable.

They also called, through loudspeakers, on Prime Minister Muhammad Shia'a al-Sudani to "go out to the people" and announce realistic measures to alleviate the crisis and restore prices to stability.

The demonstrators raised sarcastic demands, demanding that an artist intervene in resolving the issue "according to her relations with politicians," while some wrote on his banner that "politicians are covering up banking corruption and transfer companies."

Today, a spokesman for the Iraqi Ministry of Interior revealed, to Shafaq News agency, that a number of "unlicensed" exchange offices and banks dealing in the process of selling dollars outside the Central Bank's controls were closed. higher than the specified price.

Since November 2022, the exchange rate of the US dollar against the Iraqi dinar has witnessed a gradual increase, reaching its highest levels in recent days, as it exceeded the barrier of 165 thousand dinars per 100 dollars.

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Henig:  The overthrow of speculators and the street gives the central bank a week to save the dinar

January 25, 2023

The overthrow of speculators and the street gives the central bank a week to save the dinar

Baghdad - Qusay Munther

Protesters gave, during mass demonstrations in front of the Central Bank building on Al-Rasheed Street in central Baghdad, the new governor, Ali Al-Alaq, a week to save the dinar from collapsing. 

The demonstrators, who were met by the security forces of the law enforcement forces, withdrew after handing over their demands to the bank's administration. 

The demonstrations started yesterday morning, starting from Al-Rusafi Square, and extended to the depth of Al-Rasheed Street, opposite the Arab Market, where the bank building and the government banking complex are located. 

Eyewitnesses said that (the organizing committee for the demonstrations called on the protesters to withdraw after sending a delegation to the new governor to propose solutions with a specific time limit of one week to save the dinar from collapsing). 

During the protest, the demonstrators demanded an end to speculation in the exchange rates of the dollar, and urgent economic measures to be taken to restore the exchange rate of the dollar within the official context and to hold the corrupt accountable. 

Calling, through loudspeakers, (Prime Minister Muhammad Shia’a al-Sudani to go out before the people and announce realistic measures that alleviate the crisis and return prices to stability). 

The demonstrators raised banners, calling for the intervention of an artist in resolving the issue according to her relations with politicians, while some wrote on his banner that politicians are covering up bank corruption and transfer companies. 

While the governor, Ali Al-Alaq, directed the formation of an investigative committee regarding the fate of the soft trillion dinars initiative funds. 

Sources reported that (Iraq directed the formation of an investigative committee into the fate of soft loans that have been allocated to projects that serve the national economy). 

In turn, the spokesman for the Ministry of Interior, Khaled Al-Muhanna, confirmed that the security forces closed a number of unlicensed banking offices and banks that deal in the process of selling dollars outside the controls of the Central Bank. 

And he said in a statement yesterday that (these banks are buying the dollar at the official price from the auction selling the currency and selling it outside the controls at a price higher than the specified price). 

A force from the ministry arrested suspects of speculating at dollar exchange rates between Kirkuk and Erbil. 

The statement stated that (the ministry's detachments intensified their efforts to follow up the manipulators of the dollar exchange rates outside the controls and laws, and based on accurate information and the intensification of intelligence effort and careful work, a detachment of the Federal Intelligence and Investigation Agency was formed and an elaborate ambush was set up in the Darman joint control linking the Kirkuk-Erbil road, Where a vehicle was seized in which two suspects were trying to enter Kirkuk and they were carrying with them an amount of money amounting to 200 million dinars, category 25 thousand), and he added that (one of the defendants admitted that he is the owner of 4 Qi Card outlets in cooperation with a person who owns an exchange company, they are speculating in dollars, and that is through Selling the dollar to one of the people mentioned in the confessions and receiving the amounts in dinars from a bank in Erbil). 

Yesterday, Wednesday, the exchange rates of the dollar witnessed a rise in the local stock exchange. The sale of the dollar was recorded at 161 thousand dinars per 100 dollars, while the purchase price of the dollar was recorded at 160 thousand dinars per 100 dollars. 

In addition, Al-Zaman reviewed leaks circulated on social media, quoting experts regarding the current year's budget, in which it was stated that (the budget will be approved for an amount exceeding 200 trillion dinars, and it will include about 17 percent for the Kurdistan region, according to prior understandings discussed during the establishment of the State Administration Coalition, which It resulted in the birth of the government of Muhammad Shia’a, the Sudanese Sudanese)

And the experts confirmed that (the currency exchange rate will be fixed at 146 dinars against one dollar, and the price of a barrel of oil will be estimated at 70 to 60 dollars, and the budget will cover the salaries of the employees of the center and the region, in addition to providing financial cover for contract employees who The government was forced to contract with them).   LINK

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Clare:  An Iraqi delegation visits Washington to discuss the crisis of the rising dollar

2023-01-25

The Islamic Supreme Council, one of the forces of the coordination framework, revealed today, Wednesday, that an Iraqi delegation will soon visit the United States of America in order to discuss the high exchange rate of the dollar in Iraq.

The spokesman for the council, Ali al-Daffi, told Shafaq News agency, "A leading delegation from the Iraqi Ministry of Finance and the Central Bank of Iraq will visit the United States of America in the coming days in order to discuss the US Federal Reserve's policy and give an appropriate opportunity of time so that Iraqi banks can adapt and deal with the system." The new banker.

Al-Daffi stated that "the issue of fighting corruption, money laundering, and currency smuggling cannot be addressed with the stroke of a pen, but rather requires decisions and procedures," stressing, "We support fighting corruption and ending money laundering and currency smuggling from Iraq, but there must be a reasonable amount of time." So that the Iraqi government can follow up and implement these measures.

The US ambassador to Iraq, Alina Romanowski, says that the United States does not set the exchange rate for the dollar and has not imposed sanctions on new Iraqi banks.  

Romanowski said in a televised interview that Washington "continues a mechanism that took several years to strengthen the Iraqi banking sector to help it comply with the global banking system, and to ensure that the banking system is not used to launder the Iraqi people's money and smuggle it out of Iraq."

Romanowski also indicated that these procedures began two years ago with gradual implementation by Iraqi banks, according to an agreement between the US Federal Bank and the Central Bank of Iraq, adding that they are “designed to prevent and restrict money laundering, as suspending or postponing them leads to a rollback in the system.”

And the Iraqi currency lost about 10 percent of its value, says the Wall Street Journal in a report it published a few days ago, after procedures related to imposing compliance rules on the Central Bank of Iraq's dealings with currency dealers with regard to the US dollar. 

Under the new procedures, Iraqi banks are required to submit dollar transfers on a new online platform with the Central Bank of Iraq, which are then reviewed by the Federal Reserve Bank. 

US officials say the system aims to limit the use of the Iraqi banking system to smuggle dollars to Tehran, Damascus and money laundering havens across the Middle East.   LINK

Henig: Does "electronic payment" save the exchange rate of the Iraqi dinar?

 January 24, 2023

Against the inflated prices of basic goods and services in the Iraqi markets, the exchange rate of the dinar continues to decline against the dollar and foreign currencies, amid government attempts to deal with the recession, which economists describe as "the largest in decades."

With the aim of revitalizing the economic movement, stopping the fluctuation of the dinar exchange rate, and controlling the smuggling of dollars and foreign currencies from Iraq to Iran and other countries, the Iraqi government is seeking to activate the electronic payment system.

And a statement issued by the office of the Iraqi Prime Minister, Muhammad Shia'a al-Sudani, after the cabinet session, which was held last week, announced work to activate the electronic payment system, as of the first of next June.

According to the statement: "The Council of Ministers approved the recommendation of the Ministerial Council of Economy, which stipulated that the Central Bank of Iraq should facilitate the procedures for granting licenses to collect bank cards using points of sale (POS), and reduce commissions on banks and entities that use those devices."

The decision requires all governmental, non-governmental, and mixed departments, trade unions, associations, and all centers where amounts are collected, to open bank accounts and provide point-of-sale devices for electronic payment by bank cards.

Step by step

The economist, Salam Sumaisem, enumerates the steps to be taken by the Iraqi government to respond to the electronic payment system, namely: electronic outlets, filtering remittances, and monitoring import permits and credits.

In her interview with "Raise Your Voice," she points out that electronic payment reduces currency smuggling, but the problem goes beyond that, as she adds: "There are mistakes in the structure of the Iraqi economy. The issue is not exclusively related to the monetary authorities, which are the central bank and its relationship with the government. The issue is also related to The structure of the Iraqi economy and its dependence on imports and the need to remove the currency, which is the main problem, as well as the control of import companies, which are originally subsidiaries of banks that monopolize the dollar. These issues need structural solutions, not formal procedural solutions.

And she affirms: "The electronic automation of the outlets is an essential first step that must be followed by larger steps."

Since last November, the exchange rate of the dollar has risen against the Iraqi dinar, without the central bank's decisions being able to stop the decline in the dinar's exchange rate, which recently broke the barrier of 1,650 dinars against one dollar.

The Central Bank set the purchase price from the Ministry of Finance at (1450) dinars per dollar, and the selling price to banks at (1460) dinars per dollar, while the sale price to citizens was set at (1470) dinars per dollar.

opportunity for banks

The economist, Hammam Al-Shamaa, sees electronic banking as an opportunity to increase cash liquidity in banks, by enhancing deposits in exchange for withdrawals, and explains: "Customers do not withdraw money when they deal with merchants through credit cards."

In his interview with "Raise Your Voice", Al-Shammaa excludes any effect of electronic banking, which the government seeks to implement, on the fluctuation of currency rates in the Iraqi markets.

He explains in this regard: "If the relationship between the local currency and foreign currencies changes, up or down, the purchasing power of the monetary unit will differ, whether it is electronic or paper, and this confirms that there is no relationship between the exchange rate and electronic banking."

Imbalance

For his part, the Deputy Governor of the Central Bank of Iraq, Ammar Hamad Khalaf, described, in a statement to the official Al-Iraqiya news channel, the government's decision to activate electronic payment in all joints as "important support for the Iraqi bank and economy."

Khalaf continued, "The bank has been working to implement this service for years as a basic business strategy, to complement the salary settlement project that began years ago, and it supports reducing outlets for money exchange (cash) as a case that does not serve the Iraqi economy."

Although the economist, Khattab Omran Al-Daman, emphasized the importance of the electronic financial system in reducing cases of exploitation and increasing prices practiced by some retailers, its impact on the dollar exchange rates will remain limited, since the system will deal with transactions concluded in Iraqi dinars and not in US dollars.

And the guarantor adds to “Raise Your Voice,” “The high exchange rates of the dollar against the dinar is due to the imbalance between the demand for the dollar and the quantities offered of it in the Iraqi markets as a result of the controls that the Central Bank has begun to apply, and therefore the stability of the dollar exchange rates needs quick and organized efforts from the Central Bank.” To achieve a balance between the forces of supply and demand, by ensuring the flow of dollars to importers directly, without prejudice to measures to prevent smuggling of dollars and money laundering.   LINK

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Henig:  Oil prices are recovering again

Time: 01/25/2023 07:23:31

{Economic: Al Furat News} Crude oil prices rebounded, on Wednesday, thanks to hopes for a recovery in demand in China, the largest oil importer in the world, after easing the restrictions of Covid-19, after declining in the previous session due to concerns surrounding global economic growth.

Brent crude futures rose 59 cents, or 0.7 percent, to $86.72 a barrel by 0214 GMT, after falling 2.3 percent in the previous session.

West Texas Intermediate crude futures rose 46 cents, or 0.6 percent, to $80.59 a barrel, after falling 1.8 percent on Tuesday.

Economic concerns were exacerbated by a larger-than-expected build in US oil inventories, whose data was released after the market closed on Tuesday.

US crude inventories rose by about 3.4 million barrels in the week ending January 20, according to market sources, citing American Petroleum Institute figures on Tuesday. This represents three times the increase expected by Reuters in a preliminary poll conducted on Monday by about one million barrels.

Official data from the US Energy Information Administration will be released later on Wednesday.

Oil supply is supposed to remain stable over the medium term, as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are expected to maintain their production quotas.

Five sources in OPEC + said yesterday, Tuesday, that the OPEC + committee is likely to endorse the current oil production policy for the group of producers when it meets next week, as there is a balance between hopes for an increase in Chinese demand and concerns about inflation and the global economy.  LINK

Wednesday Morning Iraq Economic News Highlights 1-25-23

Wednesday Morning Iraq Economic News Highlights 1-25-23

"See Your People And Reduce The Dollar." A Demonstration Begins In Front Of The Central Bank Of Iraq

WED, 01-25-2023, PM 2:24  KARRAR AL-ASADI  Today, Wednesday morning, a demonstration organized by hundreds of citizens who came from various Iraqi governorates began in front of the Central Bank in central Baghdad to protest against the high exchange rates of the US dollar against the dinar and the cause of an economic crisis.

https://www-non14-net.translate.goog/public/images/large/8-1674645875.jpg

Hundreds of citizens demonstrated in Al-Rasheed Street, where the headquarters of the Central Bank of Iraq is located, in central Baghdad, to demand an end to speculation in the exchange rates of the dollar, calling for urgent economic measures to be taken, to restore the dollar exchange rate within the official context, and to hold the corrupt accountable.

The demonstrators also demanded, through loudspeakers, that Prime Minister Muhammad Shia'a al-Sudanese go out to the people and announce realistic measures to alleviate the crisis and restore prices to stability.

Since November 2022, the exchange rate of the US dollar against the Iraqi dinar has witnessed a gradual increase, reaching its highest levels in recent days, as it exceeded the barrier of 165 thousand dinars per 100 dollars.

https://www-non14-net.translate.goog/public/154224?_x_tr_sch=http&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Mass Demonstrations Took Place In Front Of The Central Bank To Protest Against The Price Of The Dollar

Source:  Alsumaria News    4,596 views  Alsumaria News – Local Dozens of demonstrators organized today, Wednesday, a vigil in front of the Central Bank of Iraq, against the background of the high dollar prices.  Our correspondent said, "Dozens of demonstrators staged a protest in front of the Central Bank, resenting the high price of the dollar against the Iraqi dinar."

He added, "The demonstrations began amid tight security measures in the capital, Baghdad."

The price of the dollar exceeded 160 thousand for every hundred dollars during the last month, after it was stable under the barrier of 150 thousand Iraqi dinars for every 100 dollars.   LINK

The Communist Party: The Dollar Exchange Rate Crisis Is Fueling Popular Unrest

Posted On2023-01-24 By Sotaliraq   Secretary of the Central Committee of the Iraqi Communist Party, Comrade Raed Fahmy, expected that popular anger as a result of the deterioration of the dollar exchange rate would turn into a state of major protests and sit-ins, indicating that the Iraqi street is cautiously awaiting the government's steps.

Fahmy told (Abc Arabia) that "the state of popular discontent began to increase with every new rise in the exchange rate of the dollar, and it is expected that this discontent will turn into a state of popular protests in various cities, especially the poor and those affected by ill-conceived policies," noting that "the goal of The upcoming demonstrations call on the Central Bank and the regulatory authorities to take effective measures to end the crisis, which negatively affected the lives of the poor, earners and stakeholders.

He added, “We advise the government not to be complacent with the issue of fluctuation of the dollar exchange rate, and to take warnings seriously and pay attention to the state of popular boiling that may erupt at any time, especially with the presence of organizations and popular parties that support the protests and reject the government’s policies from the ground up, so the government should consider the issue of the dollar.” and address the problem radically.

Fahmy pointed out that "government promises of appointments, fighting corruption, and attempts to return stolen money from the corrupt and employ the unemployed will never intercede in preventing the people from rising up, especially if the damage reaches the citizen's sustenance and a loaf of bread, then it becomes a complex crisis and it is difficult to solve it governmentally."  LINK

Parliamentary Bloc: There Are No Radical Solutions To Control The High Price Of The Dollar Against The Iraqi Dinar

2023-01-25 05:52  Parliamentary bloc: There are no radical solutions to control the high price of the dollar against the Iraqi dinar    LINK

An Iraqi Delegation Visits Washington To Discuss The Crisis Of The Rising Dollar

2023-01-25 03:19   Shafaq News/ The Islamic Supreme Council, one of the forces of the coordination framework, revealed today, Wednesday, that an Iraqi delegation will soon visit the United States of America in order to discuss the high exchange rate of the dollar in Iraq.

The spokesman for the council, Ali al-Daffi, told Shafaq News agency, "A leading delegation from the Iraqi Ministry of Finance and the Central Bank of Iraq will visit the United States of America in the coming days in order to discuss the US Federal Reserve's policy and give an appropriate opportunity of time so that Iraqi banks can adapt and deal with the system." The new banker.

Al-Daffi stated, "The issue of fighting corruption, money laundering, and currency smuggling cannot be addressed with the stroke of a pen, but rather requires decisions and procedures," stressing, "We support fighting corruption and ending money laundering and currency smuggling from Iraq, but there must be a reasonable amount of time." So that the Iraqi government can follow up and implement these measures.

The US ambassador to Iraq, Alina Romanowski, says that the United States does not set the exchange rate for the dollar and has not imposed sanctions on new Iraqi banks.

Romanowski said in a televised interview that Washington "continues a mechanism that took several years to strengthen the Iraqi banking sector to help it comply with the global banking system, and to ensure that the banking system is not used to launder the Iraqi people's money and smuggle it out of Iraq."

Romanowski also indicated that these procedures began two years ago with gradual implementation by Iraqi banks, according to an agreement between the US Federal Bank and the Central Bank of Iraq, adding that they are “designed to prevent and restrict money laundering, as suspending or postponing them leads to a rollback in the system.”

And the Iraqi currency lost about 10 percent of its value, says the Wall Street Journal in a report it published a few days ago, after procedures related to imposing compliance rules on the Central Bank of Iraq's dealings with currency dealers with regard to the US dollar.

Under the new procedures, Iraqi banks are required to submit dollar transfers on a new online platform with the Central Bank of Iraq, which are then reviewed by the Federal Reserve Bank.

US officials say the system aims to limit the use of the Iraqi banking system to smuggle dollars to Tehran, Damascus and money laundering havens across the Middle East.   LINK

Basra Clans Are Calling On The Government For "Immediate Solutions" To The Dollar Crisis

2023-01-24 | 08:11   1,608 views  Today, Tuesday, tribal elders and clerics in Basra Governorate called on the federal government to find immediate solutions to the crisis of the dollar's high prices against the Iraqi dinar.

This came during a press conference held in the office of the Al-Obeid tribe, on the dollar crisis.

Yarub al-Muhammadawi, a spokesman for the conference, which was attended by a reporter, saidSumerianWe do not go into politics and leave it to its owners, and we do not talk about financial and monetary power, we leave it as well to people of experience and competence, but we proceed from our national and social duty and in order to preserve the continuity of societal stability from any economic repercussions that may be reflected on the social reality and because of the legitimate fears of the people of our societies, it has become imperative for us Today, we call on the federal government to find immediate, quick and permanent solutions to the crisis of the rise in the exchange rate of the dollar, which in turn caused an increase in commodities in the markets, and which affected citizens with limited incomes in particular.

He added, "Economic instability may contribute to societal instability, and that the rise in the price of the dollar against the dinar and the negative economic repercussions may lead to an increase in poverty numbers. All of these factors may contribute to an increase in organized crime and individual and societal conflicts, which threaten civil and societal peace." .

Al-Muhammadawi called on the concerned authorities to "monitor the markets and the high prices of commodities, and to hold accountable those who invest in these conditions and manipulate prices in the markets," praising "any measure that would return the exchange rate to its previous state with successful economic solutions that serve the country and the people."  LINK

"Tidbits From TNT" Wednesday Morning 1-25-2023

TNT:

Tishwash:  Al-Fateh: The political will is there to pass the oil and gas law

The Al-Fatah Parliamentary bloc, on Wednesday, suggested approving the oil and gas law during the current session, due to the presence of the political will of all political forces, including the Kurdish Sisi forces, stressing that the last meeting of the state administration forces seriously discussed the issue in order to approve it in the current session.  

A member of the bloc, Representative Muhammad Al-Baldawi, said in a statement to Al-Maalouma, "The oil and gas law is one of the important laws, and the approval of the law will address the problems related to oil between Baghdad and Erbil, and it will be complementary to the existing political agreements, as a result of which the current government was formed." 

He added that "the political will to pass the oil and gas law is available more than ever," noting that "the recent meeting of the state administration forces discussed the issue seriously in order to approve it in the current session." 

The Oil and Gas Committee in the House of Representatives confirmed earlier that it was waiting for a "government notice" to discuss the final draft of the Oil and Gas Law and vote on it in Parliament. link

PaperChaser:  Nader from the Middle East... a decision has been made about the dinar rate, but he doesn't know what it is or when, this week or next week. He's not sure. https://www.youtube.com/watch?v=wFvZi4EAxac

KaseyKo1:  It's exciting to know that we are so VERY close to finally seeing our fortunes come to fruition.

JCNoble:  kaseyko1 hope you are right, what specifically give you the feeling we are "truly" close?

RVAlready:  I think the current PM has few fears from Maliki or the framework. I think US support has told Iranian supporters to sit down and shut up or face horrible consequences. Look at all the money laundering that has been stopped. and that is just for openers.

Yada:  agreed rvalready. This move will not stop the progress. The release is here folks,,, going to be an overnight change,,,,NOT. The way money moves is gradual increase gradual decrease. Kuwait followed the same process. They turned on the international status and it gradually increased and then after the demand went down, it decreased. That is why there has been mention of a float.

RoJo:  Yada do you think we will see it before the end of February 2023?

Yada:  We will see it before the end of January this year!!!!!   We are the ones with great vessels at the spout. When the dribble begins, we will have an advantage that the wealthy will have and work the float to our advantage.

RVAlready:  Hopefully, they can get to $1 to $1.70 in the next 7 days.

KaseyKo1:  From the articles I've read, from what Iraq/Iran have been doing, talks about Iraq's ascension to the WTO - stated they are in the final stages of entering the WTO… And the way the stories chg about the exchange rate, amongst other things - and not to mention the great calls we've had! - I feel we are very, very close. Now, whether it's an RI or RV, debatable. And since Sadr just came out publicly stating he is reentering the political arena, this should speed things up a bit. In my opinion, It was obvious with his comments that he was also putting Maliki on notice HE'S COMING BACK!

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CandyKisses:  Iraqi delegation visits Washington to discuss US restrictions on Iraqi banks

The US ambassador confirms that Washington continues a mechanism that took several years to strengthen the Iraqi banking sector to help it comply with the global system and ensure the prevention of money laundering and smuggling of the Iraqi people out of Iraq.

Wednesday 2023/01/25

Protests and popular rejection of the continued collapse of the Iraqi dinar against the dollar and fears of the expansion of poverty in the country

 The delegation will demand a deadline so that Iraqi banks can adapt and deal with the new banking system.

 US ambassador to Iraq confirms that Washington did not put sanctions on Iraqi banks

 Thousands of Iraqis from various provinces flock to Baghdad to protest against the devaluation of the dinar exchange rate

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CandyKisses:  On Wednesday, thousands of Iraqis from various provinces flocked to the capital Baghdad to protest against the decline in the exchange rate of the Iraqi dinar against the dollar.

In early transactions, the dollar exchange rate in local markets amounted to 1590 dinars, while the official exchange rate for citizens is 1470 dinars per one dollar.

According to local Iraqi media, including the "Baghdad Today" agency, many opposition political parties and forces called for protesting in front of the Central Bank building to express popular rejection of the decline in exchange rates.

Since the beginning of this year, the government and the Central Bank have taken a package of measures to increase the supply of the dollar in the local market, a decision that partially succeeded in resolving the crisis, but exchange rates remained low, and the exchange rate of the dollar last month in local markets reached 1,650 dinars, before currently falling below 1600 while remaining away from the official rate.

Today, the "Baghdad Today" website quoted scenes and footage of streets on the outskirts of the capital witnessing an influx of citizens coming to protest.

The purchasing power of Iraqis has been damaged by exchange differences in circulation and official ones, and in the meantime, the dollar is still witnessing fluctuation in its abundance and real fears of the Iraqi people of further deterioration of their living conditions in a country that is unable to do without materials imported from neighboring countries, the United States and China to provide its markets with their needs, making the rise in the dollar exchange rate a real predicament for traders and citizens.

Baghdad faces a major challenge to curb the spread of poverty that creeps on all governorates of the country. Despite the huge oil wealth, one in five people still lives below the poverty line in a country plagued by widespread corruption and high youth unemployment rates.

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CandyKisses:  Human waves storm Rashid and approach the Central Bank of Iraq

Twilight News / The demonstrations that took place on Wednesday morning continue, in front of the Central Bank of Iraq in the center of the capital Baghdad to demand the stability of the dollar exchange rate and save the dinar from collapse.

Pictures taken by Shafaq News showed hundreds of demonstrators forming human waves matched by security elements of law enforcement forces.

The demonstration began in the morning, with the participation of hundreds of Baghdad residents, as well as others from various Iraqi governorates, starting from Al-Rafi Square, to extend deep into Al-Rasheed Street opposite the Arab market, where the building of the Central Bank of Iraq and the Iraqi government banks complex.

The nearly 800 protesters are close to the central bank building, which is heavily fortified by security forces.

A correspondent of Shafaq News Agency said that the organizing committee for demonstrations near the Central Bank called on the demonstrators to withdraw this afternoon, with a delegation sent to the Governor of the Central Bank to offer solutions with a specific time limit.

Demonstrators are demanding an end to speculation in dollar exchange rates, urgent economic measures to restore the dollar exchange rate within the official context and hold the corrupt accountable.

They also called on loudspeakers on Prime Minister Mohammed Shiaa al-Sudani to "go out to the people" and announce realistic measures that alleviate the crisis and return prices to stability.

Demonstrators made saynical demands demanding the intervention of an artist in solving the issue “in accordance with her relations with politicians,” while some wrote on his banner that “politicians are the ones who cover up bank corruption and transfer companies.”

Today, the spokesman for the Iraqi Ministry of Interior revealed to Shafaq News that a number of "unapproved" banking offices and banks dealing with the process of selling dollars outside the controls of the Central Bank and indicated that these banks buy dollars at the official price from the auction of selling the currency and sell it outside the controls at a price higher than the specified price.

Since November 2022, the exchange rate of the US dollar against the Iraqi dinar has witnessed a gradual rise to reach its highest levels in recent days, as it exceeded the barrier of 165,000 dinars per 100 dollars.

Mot:  .... oooooh - the True Procrastinators NightMare!!! ~~~~~

Mot:  . soooooooooooo How many Ya Got today!!

Iraqi News Highlights Tuesday Evening 1-24-23

Iraqi News Highlights Tuesday Evening 1-24-23

Tlm724 Administrator Bondlady’s Corner

Al-Hamdani Assumes His Duties As President Of The Iraqi Trade Bank

Economy News – Baghdad    Bilal Al-Hamdani, on Tuesday, assumed his duties as Chairman of the Trade Bank of Iraq and Chairman of the Board of Directors (in addition to his duties as Director General of the Industrial Bank), in implementation of the decision of the Prime Minister, Muhammad Shayaa Al-Sudani.

The media expert and spokesman for the bank, Aqil Al-Shuwaili, said in a statement, “Al-Hamdani met with the advanced staff of the bank upon his arrival to see the nature and mechanism of the bank’s work in general,” stressing that “an expanded strategic action plan will be developed based on the directives of the Prime Minister to advance the reality of the financial sector.”

https://economy-news.net/content.php?id=32067

Central Bank: We Have No Problem With Dollar Resources, And The Electronic Platform Is A National Option

Economie| 06:47 - 01/23/2023   Baghdad - Mawazine News  Today, Monday, the Central Bank announced the exhaustion of all steps related to monetary policy, and while indicating that the electronic platform is a national option for organizing the foreign trade process, it stressed the importance of the decision to allow imports in the names of companies and persons.

The Central Bank of Iraq adviser, Ihsan Shamran al-Yasiri, said: "The meeting of Prime Minister Muhammad Shia' al-Sudani with a group of merchants and representatives of the Central Bank on the issue of the exchange rate of the dollar was an important meeting," noting that "the issue of the exchange rate of the dollar is not with the Central Bank."

He added, "The Central Bank has exhausted all steps related to monetary policy, and the issue now is related to state institutions concerned with dealing with merchants regarding import and export operations," explaining, "The step of reforming the tax system is important, especially the Prime Minister's speech regarding not allowing corruption in outlets and tax procedures." ".

And he indicated, "The merchants assigned to deal with the General Tax Authority began to worry about communication and exposure to tax institutions, so they always withheld their purchases," noting that "the Central Bank sent a message to the Prime Minister with the need to liberate the citizen from the problems and complexities of the high bureaucracy in tax work."

And he stated, "The Central Bank does not have a problem with dollar resources, but a problem with dollar supply," pointing out that "the electronic platform is a national option for organizing the process of foreign trade and organizing information."

He pointed out that "the platform imposes that the merchant who buys the dollar is the same one who brings the goods in his name," explaining that "Iraq is a country that complies with international controls."

He stated, "The problem is with financing foreign trade, which is now putting pressure on the exchange rate, because traders are worried and afraid to come and expose themselves," noting that "the platform has become necessary, which is that the merchant who buys the dollar brings the goods in his name at the outlets."

Regarding the documentary credit, Al-Yasiri stressed that "the documentary credit took advantage of being at a lower price in order to encourage the public and merchants," explaining that "the important issue that was taken by the Council of Ministers is to allow imports in the name of companies and individuals as well."    https://www.mawazin.net/Details.aspx?jimare=217370

A New Decline.. Learn About The Exchange Rates Of The Dollar Against The Dinar

Economie| 09:36 - 01/24/2023   Baghdad - Mawazine News  The exchange rates of the dollar decreased today, Tuesday, on the local stock exchange.  Selling price: 158,000 dinars per 100 dollars  Buying price: 157,000 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=217408

A Slight Rise In Oil Prices In Global Markets

Economie| 08:50 - 01/24/2023   Follow-up - Mawazine News  Crude oil prices rose slightly in early Asian trading today, Tuesday, in a market focused on the prospects for demand recovery from China, the largest importer, and the global economic outlook.

Brent crude was up 5 cents at $88.24 a barrel by 04:16 GMT.

US West Texas Intermediate crude also rose 13 cents to $81.75 a barrel.

https://www.mawazin.net/Details.aspx?jimare=217406

Iraq's Oil Generates More Than 7 Billion Dollars In One Month

Economie| 01:01 - 01/24/2023 Baghdad - Mawazine News   The Ministry of Oil announced, on Tuesday, the total oil exports and revenues achieved for the month of December, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

The ministry said, in a statement received by Mawazine News, that "the amount of exports of crude oil amounted to 103 million and 281 thousand and 459 barrels, with revenues amounting to 7 billion and 708 million and 556 thousand dollars."

She added, "The total quantities of crude oil exported for the month of December from the oil fields in central and southern Iraq amounted to 100 million and 735 thousand and 151 barrels, while the quantities exported from Kirkuk oil through the port of Ceyhan were 2 million and 223 thousand and 338 barrels."

And she continued, "The average price of one barrel amounted to (74,636) dollars," noting that "the exported quantities were loaded by 36 international companies of several nationalities from the ports of Basra, Khor Al-Zubayr, the mono-buoys on the Gulf, and the Turkish port of Ceyhan." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=217429

Al-Jubouri: The Era Of The Former Bank Governor Witnessed The Largest Smuggling Of Hard Currency

Monday, January 23, 2023 4:13 of the Central Bank, Mustafa Ghaleb Makhaif, who was dismissed by the Prime Minister, Muhammad Shia’ al-Sudani, that his reign witnessed the largest smuggling of hard currency, while he hinted that there was a “serving of interests” that prevented Parliament from “accounting” him. .

And the representative of the coalition, Ahmed Al-Jubouri, said in a tweet to him, followed by the National News Center, that “exempting the governor of the Central Bank, during whose reign the bank witnessed the largest smuggling of hard currency and the rise in the price of the dollar, is a correct decision taken by the Prime Minister.”

He added that this came “after the House of Representatives abandoned its oversight role and held it accountable for serving interests!”  Al-Jubouri believed that “Ali Al-Alaq is a good choice, as he has experience and experience.   https://nnciraq.com/181726/

Including Electronic Auditing.. Al-Waeli Issues 6 Recommendations To Border Crossing Managers

Economy News – Baghdad   Today, Tuesday, the Border Ports Authority announced the issuance of 6 recommendations during its last meeting.

A statement by the authority stated, "The head of the Border Crossings Authority, Omar Adnan Al-Waeli, chaired an important meeting of the directors of the border crossings, which was held at the authority's headquarters today."

He added, "During the meeting, government directives, especially the items of the ministerial curriculum, were reviewed, and the need to implement it with all professionalism and integrity was emphasized. The work of the border crossings was also evaluated, and the obstacles and problems facing the progress of the procedures were identified in order to find the necessary solutions to address them and ensure that they are not repeated in all ports (land, sea and air). ".

And the statement continued, "Al-Waeli issued a number of recommendations, including an emphasis on the port managers and assistants doing field work, evaluating workers, following up job rotation procedures, carrying out qualitative, sudden and continuous audits, and supervising inspections for all frequenters, vehicles and goods in all their forms to ensure that the law is applied properly and according to controls."

He pointed to "combating smuggling operations in all its forms by doubling the oversight role and checking all goods and merchandise exported and imported into the country, as well as thorough inspection of travelers and their bags, whether they are coming or leaving the country, to prevent the passage of any prohibited materials."

He pointed out, "the need to resolve the legal procedures for the seized violations and follow them up after referring them to the judiciary to ensure that the negligent ones are held accountable in order to deter anyone who tries to carry out acts that violate the law."

He emphasized "electronic auditing and intersection of data for customs and tax receipts, exemption books for goods, matching certificates of origin, invoices, border sequences, auditing import licenses, pre-examination documents, border sequences, and electronically exempted materials to prevent forgery or distortion of official papers, as well as coordination and exchange of information with departments operating in the border crossing and opening Official channels of communication, emphasizing cooperation in the field of security and intelligence information, following up on the entry and exit of tourist vehicles, and following up on the work of the K9 detachments and the sonar device.

Al-Waeli stressed that "the managers of the border crossings coordinate and integrate with the governorates in terms of developing and reconstructing the crossings and meeting their requirements from the revenues generated."   https://economy-news.net/content.php?id=32064

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

https://www.bondladyscorner.com/

Some "Vietnam News" Posted by Henig at KTFA Tuesday PM 1-24-2023

KTFA: Vietnam

Henig:  Cashless payments continue to grow in popularity

January, 24/2023 - 13:23

Cashless payment and transaction channels are increasingly popular, with commercial banks, e-wallets and fintech companies promoting the application of technology for online payments.

HÀ NỘI — Using QR codes to process payments has been increasing in popularity over the past 12 months, and the trend shows no signs of slowing down.

Cashless payment and transaction channels are increasingly popular, with commercial banks, e-wallets and fintech companies promoting the application of technology for online payments.

Many customers now choose cashless payments, the most popular being a payment card, followed by scanning a QR code and transferring money.

Card payment sales at many goods and service suppliers have also increased significantly. Commercial banks and e-wallet companies said that cashless transactions are even more popular now than during the COVID-19 pandemic.

Ngô Trung Lĩnh, General Director of Viet Union Online Services Corporation, said its Payoo payment platform recorded increased cashless payment transactions in the post-COVID recovery phase last year.

New payment methods, such as e-wallets or QR code scanning, have grown significantly. Non-cash payment methods will continue to grow on last year, including QR codes.

"Enterprises are ready for infrastructure with low investment costs, bringing convenience to people when paying. The outstanding method that meets the above factors and is likely to explode next year is paying via QR codes," said Lĩnh.

With a mobile phone in hand, he added that they could open banking applications or e-wallets to choose a source of money to scan the code and make payments.

QR payments have even gone international. National Payment Corporation of Việt Nam (NAPAS) and Thailand’s National ITMX (NITMX) recently announced the completion of a retail payment connection using QR codes.

In the first phase of implementing this project, Thai tourists can scan VietQR codes to pay for goods and services at payment acceptance units of TPBank and BIDV.

Vietnamese tourists who are customers of TPBank and Sacombank can scan ThaiQR codes at nearly eight million payment points in Thailand.

NAPAS will continue to cooperate with NITMX to expand member banks to meet the demand of tourists in the two countries this year.

— VNS    LINK

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Henig:  Ministry of Transport considers upgrading Phù Cát Airport to international status

January, 24/2023 - 08:20

Located in the Phù Cát District, just 30 kilometres northwest of Quy Nhơn City, the airport has already been upgraded to meet the operational standards of larger aeroplanes such as the Airbus A320 and A321 in recent years.

 HÀ NỘI — The Ministry of Transport (MoT) is considering the feasibility and practicality of upgrading Phù Cát Airport in the central province of Bình Định to an international airport.

Located in the Phù Cát District, just 30km northwest of Quy Nhơn City, the airport has already been upgraded to meet the operational standards of larger aeroplanes such as the Airbus A320 and A321 in recent years.

In addition, the airport facilities have also received major upgrades to accommodate up to two million passengers a year to meet rising tourism demand in Bình Định and other neighbouring provinces.

Phù Cát was still classified as a domestic airport in the national air travel infrastructure development plan 2021-2030, with a long-term vision to 2050.

However, in recent years the airport has been given the green light to operate irregular international flights as the ministry looks to encourage Vietnamese and international airlines to establish additional flight paths that include the airport.

"The MoT will monitor the airport's demand and operations for a set period. Once all the requirements are met, the airport will be upgraded to international airport status," said a spokesperson from the transport ministry.

The ministry stressed the importance of strictly following international standards such as those set by the International Civil Aviation Organization (ICAO) in upgrading the airport's status, among which is the road infrastructure connecting the airport to nearby towns and national highway systems such as the 180-kilometres, four-lane Quy Nhơn-Pleiku Highway project, which will break ground in 2030.

Provincial authorities have been tasked with overseeing the highway's construction under a public-private partnership model. The highway will play a key role in socio-economic development in the southcentral region and the central highlands. VNS   LINK

Henig:  Digital growth and green growth need to be integrated: expert

January, 23/2023 - 11:22

Digital economy and green economy are the most important topics on the agenda of environmental policy and sustainable development in recent years. In this context, the integration between the digital economy and the green economy therefore leads to new models and creates opportunities for sustainable development

Over the past three years, the global economy has had to deal with three challenges: the pandemic causing the worst economic crisis since the Great Depression, inflation, and the more severe impact of climate change.

Fundamental changes are driving climate change and the digitisation of the economy, posing increasing challenges to the environment and sustainable development. Digital economy and green economy are the most important topics on the agenda of environmental policy and sustainable development in recent years. In this context, the integration between the digital economy and the green economy, therefore, leads to new models and creates opportunities for sustainable development.

Although the concept of “Green Growth” as a new growth path appeared much later than “Digital Growth” they are currently coexisting and will surely accompany for many decades to come. Besides the economic and social impact as a new growth source, the environmental impact of digital growth is receiving much more attention. The profound changes in the digital economy are having both positive and negative impacts on economic and social activities, especially on the environment.  

In summary, the environmental impacts of the digital economy are divided into four groups: impacts of the ICT sector, impacts of electronic applications, impacts of e-commerce and social and economic impacts from where policies and agendas that incorporate the environmental impact of the digital economy have been proposed. The consideration of the creative and dynamic use of digital growth and the digital economy for the benefit of not only economic, but also environmental and social values ​​has led to the concept of “digital growth sustainability” as a solution to environmental problems.

The coexistence and integration of digital growth and green growth at the macro level is shown in the extent and mechanism of the potential impact of internet development on total green productivity based on panel data showing the growth of the internet has a positive and significant role in promoting green total factor productivity. There is some empirical evidence that ICTs reduce carbon emissions and are a positive promoter of economic growth. Empirical results have also explored the impact of digital transformation on environmental pollution, arguing that the Internet of Things enables more resource-efficient manufacturing, improving recycling processes. Predictive studies show that the adoption of digital devices and programs can increase energy efficiency in various sectors and increasing investment in ICT can reduce energy demand quantity. The parallel development and interlinking between the digital economy and the green economy is not only of practical importance but also of great theoretical value, as it provides new evidence to decipher the “paradox of Solow productivity theory” in the traditional growth model, which still has no solution.

Green economy and digital economy are the most appropriate and mainstream developments in the current period, ensuring the goal of fast and sustainable development in the first half of the 21st century. Policymakers have recognised the need to prioritise the development of the digital economy to achieve the goal of green growth, unifying the view of global action to address the issues of climate change rather than just regionally or locally in economic growth strategies, including the digital economy. Accompanying the economic recovery, especially after the pandemic, with the increasing trend of the size and proportion of the digital economy in the traditional economy, related digital economic structures are expected to be new growth engines to address the uncertain future of the environmental crisis.

The digital economy has become an increasingly important contributor to the gross domestic product of countries, especially during the post-COVID-19 recovery. Assessing the environmental impact of the digital economy is particularly important because it provides the basis for defining and coordinating digital economic development policies with the environment, creating constructive collaboration between the digital economy strategy and the environment. Up to now, environmental policies and strategies have not been linked with economic and social development policies in general, and the digital economy, although recently there have been many efforts to take a closer look.

Viet Nam can become the second largest digital economy in Southeast Asia in 2025, while the country’s e-commerce market will draw more large-scale businesses. In China in 2020, the digital economy accounted for 40 per cent of GDP, while in Viet Nam in 2022 it is expected about 11-12 per cent, so the growth potential is huge. The strategic goal of Viet Nam's socio-economic development is for the digital economy to account for 20 per cent in the year 2025 and 30 per cent of GDP by 2030. The digital economy consists of three components: ICT digital, internet digital and the sectoral digital economy. The internet digital economy and the sectoral digital economy are two components that still have an extremely low share in GDP compared to the world average. These two components have a low "environmental" impact, so they need to be promoted in a strategy that integrates with the green economy.

Since COP26, Viet Nam has been seriously and swiftly taking action to realise its commitments as seen in the establishment of a national steering committee for implementing its pledges made at the conference, and the Prime Minister is head of this committee. Economic transformation is needed to reach net-zero greenhouse gas emissions by 2050, and the question of how these commitments can be met and the corresponding economic transformation managed becomes ever more central. The country is working hard to perfect the relevant legal framework, build detailed plans, measures, and roadmaps, and mobilise investment resources for climate-resilient infrastructure to carry out the commitments.

To exploit the potential for simultaneous development of the digital economy and the green economy, achieve the goals set out in the "National Strategy for the Development of the Digital Economy and Digital Society to 2025, with a Vision to 2030", and the "National Strategy on Green Growth for the period 2011-2020 and a Vision to 2050", it is necessary to implement a number of solutions to integrate the digital economy and the green economy as follows:

- Have the best preparation for the ability to integrate these development trends for leaders at all levels of state management agencies, sectors, localities and the business sector, especially small and medium enterprises. Along with that, sectors and localities need to integrate projects and activities to develop the digital economy with solutions to promote the implementation of the Green Growth Strategy.

- While accelerating the completion of an institutional framework suitable for the digital business environment, it is necessary to refer to and link to complete the framework to promulgate green technical norms, standards, and guidelines, complete and soon issue a set of green growth measurement indicators at the national level. It is necessary to add a number of green growth indicators to the system of socio-economic development indicators in general and the goals of digital economy and digital society development, to soon complete and apply the set of green growth indicators into the development of a five-year socio-economic development plan.

- In the plan to increase investment, especially public investment to synchronously upgrade essential and widespread infrastructure and digital services, it should be linked with the development of budget allocation and management plans serving the implementation of the green growth strategy. In addition, perfecting financial policies to support green growth in a reasonable and consistent manner, including taxes, fees, subsidies, support funds, sanctions, and green criteria.

- The government needs to strengthen environmental protection supervision and law enforcement, raise the cost of pollution emissions of enterprises, and force enterprises to improve the level of green innovation, improve systems and infrastructure and related mechanisms to encourage green innovation and raise the sense of social responsibility.

- Enterprises implementing digital transformation need to proactively seize opportunities, optimise business models, deploy digital technology integration, promote the development of production and business solutions based on digitisation, participate more effectively in the global supply chain, improve management capacity suitable for new production, business, and cooperation models. In the process of digital transformation and green innovation, it is necessary to take advantage of reducing internal and external costs, promoting the division of professional labour in enterprises, strengthening the link between digital transformation and green innovation in business plans, improve social responsibility, contribute to promoting the spillover effects of digital transformation and green technology innovation. — VNS

* Prof. Trần Thọ Đạt is the Chairman of Academic Board, National Economics University   INK

Iraqi News Highlights Tuesday Afternoon 1-24-23

Iraqi News Highlights Tuesday Afternoon 1-24-23

Tlm724 Administrator Bondlady’s Corner

The Appearance Of Muhammad Saleh: There Will Be A Platform For Selling The Dollar And Determining Its Movement

Monday 23 January 2023 22:58 | Economical Number of readings: 724  Baghdad / NINA / - The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced that there will be a platform for selling the dollar and determining its movement.

Saleh said in a televised statement: "The exchange rate is variable and that international sensitivity stands behind the movement of the dollar and determining its prices, explaining that trade financing is one of the most important actors in determining the exchange rate of the dollar."

He continued: "What the Prime Minister has done is revolutionary by organizing commercial transactions."

He added that we have about 20% of the money fleeing outside Iraq, explaining that linking small businesses to companies is wrong and the correct thing is to open credits.

https://ninanews.com/Website/News/Details?key=1028708

The State Administration Coalition Discusses The Government's Measures To Confront The Dollar Crisis

Iraq   The State Administration Coalition discussed the measures taken by the government recently to confront the crisis of the high exchange rate of the dollar.

A statement by the coalition stated, "The State Administration Coalition held a meeting in Nuri al-Maliki's office and discussed developments in the political and security scene, in addition to the measures taken by the government recently to confront the crisis of the high dollar exchange rate."

He added, "The Prime Minister gave a detailed explanation of the treatments presented by the government with the aim of reducing the impact of the high exchange rate on the poor and marginalized segments, in addition to making the appropriate and required changes in sites that are related to the fluctuations of the Iraqi dinar."

On the other hand, the meeting discussed, according to the statement. The most important legislation that must be approved within the House of Representatives, the most prominent of which is the federal budget, as well as laws that are related to the life of the citizen.

https://www.radionawa.com/all-detail.aspx?jimare=33140

Currency Auction.. The Bank's Dollar Cash Sales Increased At The Expense Of Foreign Transfers

Posted On2023-01-24 By Sotaliraq   The central bank's dollar cash sales rose at auction today, Tuesday, at the expense of foreign transfers.

Our correspondent stated that "the Central Bank sold today, during its auction for the sale and purchase of US dollars, 77 million and 274 thousand and 679 dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar."

Our correspondent added; Most of the dollar sales went in the form of cash, amounting to 59 million and 900 thousand dollars, while the rest of 17 million, 374 thousand and 679 dollars went to strengthening balances abroad in the form of (transfers, credits).

Our correspondent indicated that the number of banks that bought the cash dollar amounted to 18, while the number of banks that responded to requests for strengthening balances abroad was 5, while the total number of exchange and mediation companies participating in the auction was 218 companies. LINK

Independent Deputy For / Nina /: Changing The Governor Of The Central Bank.. An Insufficient Step To Solve The Dollar Crisis

Tuesday 24 January 2023 09:45 | Economical Number of readings: 326  Baghdad / NINA / - The independent deputy of the Parliamentary Integrity Committee, Hadi Al-Salami, affirmed that changing the governor of the Central Bank ... is an insufficient step to solve the dollar crisis.

He told the National Iraqi News Agency ( NINA ) that there must be clear policies and plans on the issue of the currency price to stop the fluctuations that affect it from time to time, and the citizen pays for it.

Al-Salami added that the Parliamentary Integrity Committee stands by its position to host the new central bank governor to find out the reasons for what is happening and to demand the disclosure of the daily bulletin of the bank's dollar sales.

On Monday, Prime Minister Muhammad Shia'a al-Sudani dismissed Central Bank Governor Mustafa Ghaleb Makhaif, at his request. Ali Mohsen Al-Alaq was appointed instead.

https://ninanews.com/Website/News/Details?key=1028737

Encouraging Industrial Investment .. An Important Step To Reduce Foreign Financial Transfers

An economist for / NINA /: Tuesday 24 January 2023 11:24 | Economical Number of readings: 294

Baghdad / NINA / - The economic expert, Bilal Al-Khalifa, affirmed: Encouraging industrial investment is an important step to reduce foreign financial transfers.

He told the National Iraqi News Agency ( NINA ) that the government took three steps to solve the crisis, namely increasing sales outlets, initiating an electronic financial transaction project, and setting up sonar controls to limit dollar smuggling. Noting: These steps do not fully reach the desired goal.

He explained: The government should take other steps, including immediate ones, such as reducing the import of luxury goods and encouraging industrial investment in things that are purchased from abroad, and thus reduce foreign financial transfers. https://ninanews.com/Website/News/Details?key=1028747

The Government's Recent Steps Are An Important Part Of Preserving Iraq's Financial And Economic Security

Ihsan Al-Shammari to / NINA /: Tuesday 24 January 2023 13:23 | Economical Number of readings: 284  Baghdad / NINA / - The head of the Center for Political Thinking, Ihsan Al-Shammari, confirmed: The government's recent steps are an important part of preserving Iraq's financial and economic security.

He told the National Iraqi News Agency / NINA /: The reassignment of Ali Al-Alaq to head the Central Bank is one of the steps to re-evaluate the bank's work, especially since part of stopping the process of the dinar's collapse is related to internal and external measures.

Al-Shammari added: The decision to exempt the governor of the Central Bank and reassign Ali Al-Alaq is part of these internal procedures, and Al-Alaq was associated with the success and superiority of the Iraqi dinar, and he was able to restore the dinar to the level of 115-120 thousand for one hundred dollars, in addition to that he has good external relations.

He explained that these measures and steps are a message to the outside that Iraq is proceeding with measures to contribute to understandings with the US Federal Reserve, the aim of which is to preserve Iraq's financial and economic security. https://ninanews.com/Website/News/Details?Key=1028792

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

https://www.bondladyscorner.com/

KTFA Members "Tuesday News" 1-24-2023

KTFA:

Clare:  Deputy regarding the exemption of the governor of the Central Bank: The dollar will fall and the authoritarian claws of corruption will be removed

01/23/2023

Representative Mahmoud Al-Qaisi considered, on Monday, the decision to dismiss the governor of the Central Bank, as it will remove the tentacles of corruption that are controlling the bank.

Al-Qaisi said in a tweet on Twitter, followed by Mawazine News: "We urge the prime minister to take deterrent measures against the corrupt, who want to exhaust the Iraqi economy."

He added, "The dismissal of the governor of the central bank will remove the tentacles of corruption that dominate the central bank, and will contribute to reviving the Iraqi dinar."
And he concluded his tweet by saying: “The dollar will drop.”  LINK

Henig:  Finance Minister: Iraq possesses the requirements of a strong economy

MONDAY, 01-23-2023, PM 9:20

Today, Monday, the Minister of Finance, Taif Sami, confirmed the endeavor to activate bilateral agreements between Iraq and various international financial institutions that support the establishment of a balanced and sustainable financial and economic system.

This came, during the Minister of Finance’s chairmanship of an expanded meeting to follow up on the paragraphs of implementing the ministerial program submitted by the government program team in the General Secretariat of the Council of Ministers, and in the presence of the Undersecretary and the general managers therein, according to a statement by the Ministry and received by the Noon news agency.

According to the statement, the meeting witnessed a discussion of "the objectives of the quarterly financial plan for the year 2023, and the basic clauses that involve developing the economy and controlling cash flows and services in various sectors, in order to achieve the basic goals included in the ministerial curriculum in the financial and economic aspects."

The meeting continued, studying the most important requirements for implementing the government program according to the vision for the years (2023-2025), which are related to investment plans, spending doors, maximizing the revenue side outside the oil sector, and other visions consistent with the criteria for the advancement of the national economy.

Sami said, according to the statement, that "Iraq possesses the requirements of a strong economy, and that the Ministry of Finance is moving steadily towards an optimal implementation of economic goals during the next stage, embodied in enhancing opportunities to attract investment, advancing infrastructure projects, and correcting the course of fiscal policy in light of the current economic challenges, as well as Activating bilateral agreements between Iraq and various international financial institutions that support the consolidation of a balanced and sustainable financial and economic system.

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Zeeman:  the best thing iraq can do is to depeg  fully from usd also stop the petro dollar and get back all the money the ust is holding imo

Henig:  Deputy: 3 difficult American conditions for Iraq will delay the reduction of the dollar

 Baghdad today-Baghdad

A member of the Parliamentary Defense Committee, Waad Qaddo, spoke today, Monday, about 3 American conditions for sitting at the dialogue table with the Iraqi government regarding the dollar.

Qaddo told (Baghdad Today), "The Americans are calling for the development of a new agreement that defines the tasks of the soldiers of the international coalition and enhances their legality in being on our lands as one of the most important conditions through which it is possible to start a dialogue with the Commander-in-Chief of the Armed Forces, Muhammad Shia'a al-Sudani, about the dollar."

Qaddo added, "The Americans also stipulate dialogue on the Iranian file and the file of the resistance factions before sitting at the dialogue table," considering that "Iraq is not a nominal occupation, but our economy is restricted and it is difficult for the Iraqi negotiator to return the dollar to its normal price and stop its rise quickly."

And he added: "Important steps taken by the Sudanese Prime Minister, Muhammad Shia'a, and other decisions he will take to punish some banks to stop any further rise in the dollar." LINK

Henig:  IMO: Oh, most DEFINITELY trying to interfere now. Will be unsuccessful, but still at it.

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Henig:  The fluctuation of the exchange rate of the Iraqi dinar overthrows the governor of the central bank

January 23, 2023

Baghdad - time

On Monday, the Iraqi Prime Minister, Muhammad Shia'a al-Sudani, dismissed the governor of the Central Bank from his position, "based on the His request, ”Al-Sudani announced in a press conference, at a time when the exchange rates of the Iraqi dinar are witnessing Against the dollar, unprecedented volatility.

Never before has an Iraqi official in a sovereign position voluntarily relinquished his position.

About two months ago, the exchange rate of the Iraqi dinar continues to decline, while the official fixed exchange rate is 1470 dinars against one dollar, the exchange rate in the market reached 1620 on Sunday, according to the official news agency, That is, the Iraqi currency lost about 10 % of its value.

On Monday, the leader in the coordination framework, Jamal Hassan, revealed that the Prime Minister had issued direct directives to activate the most important Economic adjustment tools, to control the rise in the price of the dollar.

Hassan said in an interview with the local information site, "The recent dollar crisis gave a clear picture of the danger Speculation and the existence of whales seeking to create chaos in the national economy through manipulation of exchange rates to achieve Profits and pushing prices up without caring about the seriousness of what is happening to the lives of millions.

He added, "The Prime Minister issued direct directives to activate the economic security system and its detachments move immediately from In order to contain speculation and carry out arrests against those who monopolize the dollar and push its exchange rates up,” he pointed out That «this step will be circulated to the rest of the Iraqi provinces». And he considered that «activating the economic security system is a decision that is the first of its kind after 2003

Experts attribute the decline in the exchange rate to Iraq's start to comply with international rules in money transfers, which affected supply The dollar is in the market, while Washington politicians are responsible for this decline.

In light of this decline in the Iraqi currency, Al-Sudani announced during a press conference on Monday, “A request has been approved President of the Central Bank exemption and President of the Commercial Bank of Iraq for retirement referral ».

He added, “Managements known for their experience, ability and integrity, and their vision, have been assigned to confront this problem with measures Quick will have a clear impact on exchange rates ».

Also, the official news agency reported, quoting a government source, that Al-Sudani “ decided to relieve the governor of the Central Bank, Mustafa Ghaleb Mukherif was removed from his position at his request.” And “Ali Mohsen Al-Alaq was assigned to manage the Central Bank By proxy.”

And Sudanese referred the director of the Iraqi Trade Bank, Salem Jawad Al-Jalabi, to retirement, and “assigned Bilal Al-Hamdani to run the bank.” In addition to his duties, ”according to the official news agency.

The fluctuation of the dinar is linked to the start of Iraq's compliance with some of the standards of the international transfer system (Swift). Iraqi banks have applied it since mid-November to access Iraq's dollar reserves in the states United.

Iraqi banks must now record “their transfers (in dollars) on an electronic platform, check the requests … and the reserve is established.” The Federal Reserve examines it, and if it has doubts, it will stop the transfer,” said the advisor to the Iraqi Prime Minister For financial affairs, the appearance of Saleh told AFP.

And the Federal Reserve has refused, since the implementation of the restrictions, “80 % of requests” for financial transfers to Iraqi banks According to Saleh, due to doubts about the final destination of those funds being transferred, he said.

In the meantime, the Iraqi authorities have taken measures, including facilitating the financing of private sector trade in dollars through banks In Iraq, opening outlets for selling foreign currency in government banks to the public for travel purposes.

On Sunday, Al-Sudani decided to take a number of additional measures to limit the decline in the exchange rate, including “opening.” A new window for selling foreign currency to small merchants through the Trade Bank of Iraq” and “Central Bank financing of the bank Iraqi Trade ( TBI ) with an additional amount of 500 million US dollars for the purpose of opening letters of credit for small traders And being satisfied with the initial invoice and the account number of the last beneficiary of the credit.

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Henig:  Economists: the Iraqi dinar crisis may push the Central Bank to issue new money

 Baghdad today - follow-up

Today, the Iraqi government is facing fears of its inability to provide the salaries of employees, retirees, and social welfare subscribers, who number about 10 million people, for whom about six trillion Iraqi dinars are allocated.

Today, Tuesday, the newspaper (The Independent Arabic) wrote a report followed by (Baghdad Today), in which it said that “the restrictions imposed by the US Federal Bank on the Central Bank of Iraq in the dollar file, and the start of introducing the Iraqi financial transfer within the “Swift” system, caused a series of crises. It led to a contraction of the Iraqi market and a decline in the purchasing power of most Iraqis during the past weeks.

She added, "The Iraqi economy depends almost entirely on Iraqi oil sales in US dollars, which are transferred through the Iraqi Ministry of Finance to the Central Bank, which sells them to banks to obtain the Iraqi dinar."

The report said, "In the absence of any other resource other than oil to bring in the dollar in conjunction with the absence of real economic activity or other revenues for the Iraqi government from taxes, fees and investments, obtaining the Iraqi dinar will become very difficult, and Baghdad may be forced to use alternatives, which will cause an increase." inflation rates in the country.

He explained, "Since the fall of Saddam Hussein's regime in 2003, successive Iraqi governments, under pressure from the parties participating in the political process, opened the door wide for appointments in Iraqi state departments as an important part of their campaign for elections, which raised the number of workers in the public sector from 850,000." 2003 to four million employees, workers, wage earners, and contractors who earn about 43 trillion Iraqi dinars ($29 billion) annually, in addition to millions of retirees and those covered by social care, bringing the number to about 10 million people, according to the Iraqi Ministry of Planning.

And financial expert Muhammad Dagher believes that "the Central Bank of Iraq will resort to issuing new money from the dinar to meet its needs of paying employee salaries, if its sales continue in this way," while noting that "the central bank currently has enough local currency."

Dagher said, "The issue of salaries is a red line that cannot be touched, and if we do not get Iraqi dinars through the dollar sale window, the Central Bank of Iraq must issue new money."

Dagher ruled out that salaries would be distributed in US dollars instead of dinars if an Iraqi dinar was not available at the Central Bank, due to national and other economic considerations represented in the possibility of price increases.

He stressed that "the central bank has a reserve of local currency and can maneuver it and meet the needs."

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the Central Bank of Iraq has temporary alternative procedures for absorbing liquidity, which are in the study phase and awaiting implementation, but he did not disclose these procedures.

And the specialist in economic affairs, Safwan Qusay, said, "Iraq suffers from a deficit of four trillion dinars per month as a result of the decline in dollar sales, while he referred to a set of solutions to bridge the deficit, including the issuance of bonds in Iraqi dinars."

Qusai said, "The currency selling window decreased at a rate of 130 million dollars per day, by about 200 billion dinars, which will lead to a decrease in the possibility of obtaining the Iraqi dinar to meet the requirements of the operational and investment budget." 

Qusay added, "The US federal wants to improve the economic situation of the Iraqis and create job opportunities. The more we raise the level of investment spending with international companies, the more we will get a dollar and convert it into Iraqi dinars to spend on these projects."

And Qusay indicated that the amount of the monthly deficit amounts to 2.5 billion dollars, that is, about four trillion Iraqi dinars, and therefore we need 50 trillion dinars annually, up to ($ 34 billion), stressing that what is now available to the Iraqi ministries and the Central Bank is less than this number, which will mean that the government You will be in trouble for the next six months.

He pointed out that there are more than 70 trillion dinars (47 billion dollars) with the Iraqis, and it is possible to withdraw part of it to fulfill the obligations by selling the state’s lands and properties in Iraqi dinars, and issuing dinar bonds, which contributes to absorbing the surplus dinars.   LIN 

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Clare:  The President of the Republic: The budget will be approved soon

01/24/2023

President of the Republic Abdul Latif Jamal Rashid received today, Tuesday, a number of ambassadors of Asian countries, in addition to the Russian ambassador to Iraq.

According to a statement by the Presidency of the Republic, which Mawazine News received, the President of the Republic indicated "the importance of expanding ways of cooperation between Iraq and their countries (ambassadors) in a way that achieves the aspirations of the people for progress and prosperity."

Rashid shed light on "what Iraq is going through today from a new era, an Iraq without terrorism, violence and wars," noting that "this is a message that I hope you will carry to your countries."

He stated, "Nineveh governorate and all other governorates are experiencing security stability after some of them suffered from the domination of terrorism. Service and health institutions are currently in a good position, as they provide services to citizens. Likewise, the capital, Baghdad, is stable and safe."

He stressed, "Our relationship with our neighbors is good, and we have good relations with Turkey, and at the same time we have outstanding issues related to borders and our water share, and we hope that these matters will be addressed in a way that strengthens relations between the two countries."

The President of the Republic touched on his participation in the Davos Economic Conference, pointing out that "presidents, leaders and politicians expressed during their meetings their desire to establish strong relations with Iraq. The same was the case when attending the climate summit in Sharm el-Sheikh and the Arab summit in Algeria, where the presidents expressed their support for Iraq in its efforts to consolidate Security and stability".

He added, "The current Iraqi government has a comprehensive program to raise the standard of living and services," pointing out that "the budget will be approved soon, and we have programs to solve the housing problem, and strategic plans to build the industrial city and complete the large port of Faw project and others for oil and gas production."

And on the relationship between the federal government and the Kurdistan region, Rashid stressed that "the relations between the two sides are good, and there is a common desire to develop radical solutions to outstanding issues in accordance with the constitution and the law."

In turn, the ambassadors of the countries affirmed, "their countries' keenness and desire to consolidate the bonds of relations to include all levels and in a manner that achieves the hopes and aspirations of the peoples for development and prosperity."  LINK