DINARRECAPS8 3/29/23 DINARRECAPS8 3/29/23

Wednesday Morning Iraq Economic News Highlights 3-29-23

The Iraqi Central Bank Wants To Issue A Denomination Of 20,000 Dinars: We Will Issue A Decision To Print It Or Not

Today, Wednesday, the Central Bank expected a decrease in the difference between the official and parallel exchange rates during the coming period, and while it indicated the imminent issuance of a decision regarding printing a denomination of 20,000 dinars, it clarified its procedures for monitoring commercial banks.

The Iraqi Central Bank Wants To Issue A Denomination Of 20,000 Dinars: We Will Issue A Decision To Print It Or Not

The assistant general manager of the bank’s investment department, Muhammad Mounir, said, according to the official media, that “the packages and procedures of the Central Bank of Iraq contributed to limiting the continuous rise in the dollar exchange rate,” expecting “a decrease in the difference between the official and parallel exchange rates in the coming period through packages: The first, second and third of the Central Bank, as well as the government's continued support.

Mounir continued, "The Central Bank is in continuous updating of all procedures, and every step that is launched is reviewed and the extent of its response and impact on the market is measured, and what are its pros and cons, if any."

Regarding printing new cash categories, Mounir indicated that “the Central Bank is amending and updating currency papers in response to market requests and developments and limiting counterfeiting,” noting that “the Department of Issuance and Treasurys is working to study the possibility of printing a cash category of 20,000 dinars, and in the coming days a decision will be taken. The decision to print or not to print.

Regarding the central bank building, he emphasized that “work is in full swing and 24 hours to complete it.”

On the other hand, he pointed out, “The Banking and Credit Control Department monitors commercial banks, and there are field and office inspection teams that are responsible for monitoring the work and performance of banks.”

And he stressed, “The doors and phones of the Central Bank are open to any complaint submitted by the citizen to the banks or one of the financial institutions or merchants, and the complaint is met and urgent action is taken in its regard.” https://takadum-news.com/archives/156759

Declining Central Bank Of Iraq Sales Of Dollars

Shafaq News/ The Central Bank's sales of dollars decreased in the currency auction today, Wednesday, to reach 205 million dollars.

Shafaq News agency reporter stated that the Central Bank sold today, during its auction for buying and selling US dollars, 205 million and 333 thousand and 39 dollars, compared to yesterday, Tuesday, in which sales amounted to 230 million, 3 thousand and 162 dollars, which the bank covered at a basic exchange rate of 1305 dinars per dollar. Dollars for documentary credits and international settlements of electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and the price per dollar is in cash.

Our correspondent added that most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits) at 156 million 333 thousand 39 dollars, while the rest of 49 million dollars went in the form of cash sales.

Our correspondent indicated that the number of banks that bought the cash dollar amounted to 12, while the number of banks that responded to requests for strengthening balances abroad reached 18, while the total number of exchange and mediation companies participating in the auction was 167 companies. LINK

New Talk From The Central Bank Regarding The Exchange Rate And The Possibility Of Printing A Denomination Of 20 Thousand Dinars

Economy News – Baghdad On Wednesday, the Central Bank expected a decrease in the difference between the official and parallel exchange rates during the coming period, while it indicated that a decision would soon be issued regarding the possibility of printing a denomination of 20,000 dinars.

The assistant general manager of the investment department in the bank, Muhammad Mounir, said, "The packages and procedures of the Central Bank of Iraq contributed to limiting the continuous rise in the exchange rate of the dollar," expecting "a decrease in the difference between the official and parallel exchange rates in the coming period through the first, second and third packages of the Central Bank." In addition to the government's continued support.

Mounir added, "The Central Bank is in continuous updating of all procedures, and every step that is launched is reviewed and the extent of its response and impact on the market is measured and what are its pros and cons, if any," according to the official news agency.

Regarding printing new cash denominations, Mounir stated that "the Central Bank is amending and updating currency notes in response to market requests and developments and limiting counterfeiting," noting that "the Department of Issuance and Treasurys is working to study the possibility of printing a cash denomination of 20,000 dinars, and in the coming days it will take the decision to print it or not printed.” https://economy-news.net/content.php?id=33189

The Central Bank Records The Highest Cash Reserve In Its History

Economical 2023/03/29 The Central Bank of Iraq recorded a financial reserve, the largest in the country's history, according to what the government's financial advisor said on Tuesday.

Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, said in a press statement: The central bank's reserves are currently the largest in Iraq's history, after reaching $115 billion.

And Saleh considered that "the Iraqi economy is strong and faces crises easily, and the situation is heading towards improvement," noting that "Iraq is moving towards gradually improving the digital payments climate and compliance with the world."

He stressed that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen," explaining that "we have entered the stage of digital payments correctly in Iraq."

On January 19, the Iraqi Central Bank announced a significant growth in its foreign currency reserves in the past year.

The Deputy Governor of the Central Bank of Iraq, Ammar Hamad, said, on January 23, that "the central bank's reserves amounted to more than $99 billion.

The Iraqi Council of Ministers had approved the adoption of the Central Bank of Iraq's decision to raise the value of the dinar against the dollar to 1300 dinars instead of 1470 dinars, in a step aimed at enhancing the value of the local currency.

The rise in oil prices over the past year, which in some months reached more than $100, contributed to the rise in Iraqi financial revenues, which was positively reflected in the rise in Iraq's hard currency reserves. https://alsabaah.iq/74212-.html

The Iraqi Central Bank’s Sales Of Dollars Reach More Than 200 Million

Economy |Today, 10:58 Baghdad today – Baghdad The Central Bank of Iraq's sales of foreign currency decreased today, Wednesday, to record 205 million dollars.

And the currency sale window stated in a table it received (Baghdad Today) that "the total amounts of transfers abroad (remittances, credits) amounted to 156,333,039."

While "the total amounts of cash sales amounted to 49,000,000, and the total sales amounted to 205,333,039." LINK

Central Bank: Our Measures Contributed To The Stability Of The Exchange Rate

Posted On2023-03-29 By Sotaliraq Yesterday, Tuesday, the governor of the Central Bank, Ali Al-Alaq, spoke about the stability of the exchange rates of the dollar, stressing that the reserve depends on oil revenues.

Al-Alaq said in a statement to the official news agency, “The central bank’s procedures are continuing, and the packages that it launched are serious and have contributed to the stability of the dollar exchange rate, and we are still continuing our procedures.”

Al-Alaq added, “The central bank’s reserves depend on oil revenues through the sale of oil, as it is the source of foreign currency reserves that come from Iraq’s oil exports and is the main factor in determining the reserves,” noting that “the central bank’s reserves are within international standards.”

It is noteworthy that the Central Bank launched a set of packages in order to advance the banking sector and stabilize the exchange rate of the dollar.

For his part, the financial advisor in the Council of Ministers, Mazhar Muhammad Salih, stated that “the Iraqi financial sector is living in a transitional circumstance that includes several goals, including reducing the value of the dollar against the dinar from 1450 dinars per dollar to 1300 dinars per dollar.”

Saleh denied, in an interview with the official news agency, "the existence of transient or ambiguous external transfers or intersection with international compliance at the present time."

He pointed out, "There is freedom in the transfer of trade and capital, such as buying a property outside the country, provided that it passes through the correct banking digital tools and through international compliance."

Saleh pointed out, "This procedure generated two prices for the dollar: the first is official, and the other is parallel, but the difference between the two prices began to shrink over time."

He stressed, "The economic situation is gradually improving as long as there is freedom in transfers that must be subject to compliance," noting that "during the next few weeks or months, the official exchange rate will match with the parallel."

Saleh stated, "The banks have begun to comply properly, and have begun to make the correct transfers."

And he noted, "The number of external transfers from the Central Bank's window reached a normal rate, which is 200 million dollars per day."

Salih reassured the Iraqis that "Iraq's reserves are sufficient and freedom of transfer is available through legal frameworks and compliance."

He stated, "Imports are made at an exchange rate of 1,300 dinars to the dollar, and this gives strength to the Iraqi dinar."

And he stressed, "The central bank reserves today are around $115 billion, which is the largest reserve in the country's history."

And between Saleh, "The Iraqi economy is strong and easily faces crises, and the situation is heading towards improvement."

He explained, "Iraq is moving towards gradually improving the digital payments climate and complying with the world."

And Saleh went on, that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen, and we have entered the stage of digital payments correctly in Iraq."

It is noteworthy that the parallel market is still recording high numbers in the exchange rate of the dollar, which are higher than what is officially announced by the Central Bank. LINK

The Maximum Limit Is 150 Million.. An Iraqi Company Determines Deposit Compensation Rates

Money and business Economy News – Baghdad The Iraqi Deposit Insurance Company set, on Wednesday, deposit compensation rates in banks subject to the company's guarantee.

The company said in a statement, "Do not worry about your money deposited in banks that are subject to the guarantee of the Iraqi Deposit Insurance Company. With the guarantee ratios provided, you can open a bank account with complete confidence."

Regarding compensation percentages, the statement explained, “Up to 25 million, the rate is 100%, from 25 to 50 million, the rate is 30%, from 50 to 100 million, the rate is 20%, from 100 to 250 million, the rate is 10%, and from 250 to 500.” One million, the rate is 5%, from 500 to one billion, the rate is 4%.

The statement indicated that "the maximum compensation is 150 million, and the percentages are determined by the Central Bank of Iraq." https://economy-news.net/content.php?id=33187

Lawmakers: The Three-Year Budget Cuts The Path Of Corruption

The first 2023/03/29 Omar Abdul Latif Representatives believe that preparing a budget for the next three years will reduce the chances of looting and corruption from public money, while an economist warned against adopting 2023 allocations in the 2024 and 2025 budgets, explaining that these allocations may go into the pockets of manipulators and corrupt people, he said.

Representative Abbas al-Jubouri said, in an interview with "Al-Sabah", that "the three-year budget that the government sent to the House of Representatives is a financial plan for more than a year, according to what is designed by the Ministry of Finance and after the approval of the Council of Ministers," adding that "the stages of budget formation are preparation, approval and implementation." ".

The deputy pointed out that the budget "took a long period of time for a new government not more than four months ago, which is normal for a government with national expertise that walks between mines and surprises," noting that the government's supporters consider it "a national achievement that is produced for the first time in Iraq, and indicates a state of stability." This gives a reassuring impression to others.”

Al-Jubouri continued, "The government is working to gain time for the coming years and not to waste useful time in discussions that are often repetitive every year."

The deputy pointed out that the opponents of this government "see that the three-year budget is a point in Al-Sudani's political balance due to its leadership and high audacity, and it is an early election propaganda for Al-Sudani and a method for rapid implementation," adding that "the budget from the opponents' point of view gives Al-Sudani "surplus power" that enables him to Building a lot in the world of politics, money and power, and distancing the government from the House of Representatives and expelling it from the circle of partnership, monitoring and accounts, in light of the instability of the global and local market, the dollar exchange rate and oil prices, and these are all factors of concern.

The deputy explained that "the neutrals believe that the tripartite budget was adopted in many stable countries and was not a financial or political heresy, and the objection to it falls within the political framework, not the economic or financial."

Economist Haitham Al-Husseini points out, "An error in understanding Article 4 second of Financial Management Law No. 6 of 2019 for preparing a medium-term budget."

Al-Husseini added in his interview with "Al-Sabah" that "within the general framework, the purpose of preparing a medium-term budget may be to provide financial stability," adding that "what is mentioned in the budget law in Article 65 is just a reference to approving the same allocations for the year 2023 for the two years that follow." .

The expert stressed that "preparing three separate budgets with an allocation for each fiscal year according to the actual need based on the final accounts of previous years is the right procedure," explaining that "if the same previous allocations are approved, they may go into the pockets of the manipulators and the corrupt." Edited by: Ali Abdel-Khalek https://alsabaah.iq/74232-.html

Dinar Recaps 20 3/29/23 Dinar Recaps 20 3/29/23

"Tidbits From TNT" Wednesday Morning 3-29-2023

TNT:

CandyKisses: 522 MasterCard cards filled with sums of money intended for smuggling were seized at Basra Airport

Baghdad - Nas

The Border Ports Authority announced on Wednesday the arrest of three travelers in possession of 522 international MasterCard cards intended for smuggling at the port of Basra International Airport.

The authority said in a statement received by NAS (March 29, 2023), that "the Basra International Airport Port Directorate, through the intensification of inspection and audit procedures for passengers and goods, was able to seize three passengers in possession of an international MasterCard card numbering 522 cards that were filled with amounts of money for the purpose of smuggling money from hard currency outside the country by withdrawing those amounts in the countries they intend to travel to."

TNT:

CandyKisses: 522 MasterCard cards filled with sums of money intended for smuggling were seized at Basra Airport

Baghdad - Nas

She pointed out that "a ban was organized to seize assets and refer the accused and cards to the Basra International Airport police station to present the matter before the attention of the competent investigative judge to take appropriate legal measures."

Tishwash: Parliamentary anticipation to include the budget on the agenda of the sessions next week

A member of the State of Law Coalition, MP Muhammad Al-Sahyoud, confirmed, on Wednesday, the inclusion of the draft budget law for the current year, indicating that the form and content of the budget necessitates delay in its presentation and discussion within the parliamentary committees.

Al-Shihoud said in a statement to Al-Maalouma, "The Council of Ministers drafted the budget bill in a new manner, as it included a real budget for the current year and two budgets for two consecutive years, but it is not binding if the draft law is approved."

He added, "The Presidency of the Council believes that the draft law needs to study some political and technical observations that have not been studied by the Presidency for the purpose of referring them to the concerned committees," stressing that "the next few days, the draft budget law for the current year will be included. The deputy for the State of Law coalition,

Muhammad Al-Shammari has expressed his surprise at the behavior of Parliament Speaker Muhammad al-Halbousi in delaying sending the budget and his insistence on passing political laws, calling for revealing the real reason behind hiding the budget. link

************

CandyKisses: The Central Bank records the highest cash reserve in its history

Baghdad - Nas

The Central Bank of Iraq has recorded the largest financial reserve in the country's history, according to the government's financial adviser.

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Saleh, said in a press statement followed by "NAS", (March 29, 2023), that the Central Bank's reserves are currently the largest in the history of Iraq after reaching $ 115 billion.

Saleh considered that "the Iraqi economy is strong and faces crises easily and the situation is moving towards improvement," noting that "Iraq is moving towards gradually improving the digital payments climate and compliance towards the world."

He stressed that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen," explaining that "we have entered the stage of digital payments correctly in Iraq."

On January 19, the Central Bank of Iraq announced significant growth in its foreign currency reserves last year.

Deputy Governor of the Central Bank of Iraq Ammar Hamad said on January 23 that "the reserves of the Central Bank amounted to more than 99 billion dollars.

The Iraqi Council of Ministers had approved the adoption of the Central Bank of Iraq's decision to raise the value of the dinar against the dollar to 1300 dinars instead of 1470 dinars, in a move aimed at strengthening the value of the local currency.

The rise in oil prices during the past year, which in some months reached more than $ 100, contributed to the rise in Iraqi financial revenues, which was reflected positively in the increase in Iraq's hard currency reserves.

************

Tishwash: New talk from the Central Bank regarding the exchange rate and the possibility of printing a denomination of 20 thousand

On Wednesday, the Central Bank expected a decrease in the difference between the official and parallel exchange rates during the coming period, while it indicated that a decision would soon be issued regarding the possibility of printing a denomination of 20,000 dinars.

Mot: ..... Any Questions!!! ~~~~~

Mot: ... Yah!!! --- What With that anyways!!!??? ~~~~

DINARRECAPS8 3/28/23 DINARRECAPS8 3/28/23

Iraqi News Highlights Tuesday Afternoon 3-28-23

Tlm724 Administrator Bondlady’s Corner

Central Bank Governor: Our Measures Contributed To The Stability Of The Dollar Exchange Rate

Economy| 02:17 - 03/28/2023 Baghdad - Mawazine News Central Bank Governor Ali Al-Alaq said, on Tuesday, that the dollar exchange rates have "stabilized" after the three packages launched by the bank during the last period.

Al-Alaq said in an interview with the official news agency, and was followed by Mawazine News, that "the central bank's measures are continuing, and the packages it launched are serious and contributed to the stability of the dollar exchange rate, and we are still continuing our procedures."

Iraqi News Highlights Tuesday Afternoon 3-28-23

Tlm724 Administrator Bondlady’s Corner

Central Bank Governor: Our Measures Contributed To The Stability Of The Dollar Exchange Rate

He added, "The central bank's reserves depend on oil revenues through the sale of oil, as it is the source of foreign currency reserves that come from Iraq's oil exports. It is the main factor in determining the reserves," noting that "the central bank's reserves are within international standards." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=223075

Mazhar Muhammad Salih: The Central Bank Reserves Are Currently The Largest In The History Of Iraq

Tuesday 28 March 2023 13:29 | Economical Number of readings: 281 Baghdad / NINA / The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced: The Central Bank's reserves are currently the largest in the history of Iraq, after reaching 115 billion dollars./ End 3 https://ninanews.com/Website/News/Details?key=1043203

Sudanese Advisor: The Official Exchange Rate Will Match The Parallel Exchange Rate Within A Few Weeks Or Months

Economy| 12:02 - 03/28/2023 Baghdad - Mawazine News, the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed, on Tuesday, in numbers, the volume of daily financial transfer through the window of the Central Bank and Iraq's hard currency reserves, considering that the Iraqi economy is "strong and moving towards improvement."

Salih said in an interview with the official news agency, followed by Mawazine News, that "the Iraqi financial sector is living in a transitional circumstance, which includes several goals, including reducing the value of the dollar against the dinar from 1450 dinars per dollar to 1300 dinars per dollar," noting that "there are currently no transfers." transient, ambiguous, or intersection with international compliance.”

He added, "There is freedom in the transfer of trade and capital, such as buying a property outside the country, provided that it passes through the correct banking digital tools and through international compliance," noting that "this procedure generated two prices for the dollar: the first is official, and the other is parallel, except that the difference between the two prices It started to shrink over time."

And he stated, "The banks began to comply correctly, and began to conduct the correct transfers," pointing out that "the external transfer number from the Central Bank window reached a normal rate, which is 200 million dollars per day."

Salih reassured the Iraqis, that "Iraq's reserves are sufficient and freedom of transfer is available through legal frameworks and compliance, as imports take place at an exchange rate of 1,300 dinars to the dollar, and this gives strength to the Iraqi dinar," noting that "the central bank's reserves today are around 115 billion dollars, which It is the largest reserve in the history of the country.

He continued, "The Iraqi economy is strong and easily faces crises, and the situation is heading towards improvement," explaining that "Iraq is towards gradually improving the digital payments climate and compliance with the world."

The Prime Minister's Advisor for Financial Affairs pointed out that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen," noting that "we have entered the stage of digital payments correctly in Iraq." https://www.mawazin.net/Details.aspx?jimare=223066

The Central Bank Sells 230 Million Dollars In An Auction Today

Economy| 12:18 - 03/28/2023 Baghdad - Mawazine News recorded the central bank's sales of foreign currency in an auction today, Tuesday, more than 230 million dollars. https://www.mawazin.net/Details.aspx?jimare=223067

A Slight Decrease In Dollar Prices In Baghdad With The Closing Of The Stock Market

Economy Tuesday, March 28, 2023 4:00 PM Baghdad / The National News Center The exchange rates of the US dollar decreased against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed this evening at an exchange rate of 154,400 dinars against 100 dollars, while the prices this morning were 154,700.”

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad also stabilized, as the selling price reached 155,000 dinars, while the purchase prices reached 154,000 dinars for every 100 dollars." https://nnciraq.com/196398/

The Iraqi Stock Exchange Closed Up 0.15%

Market Economy News / Baghdad The Iraqi Stock Exchange closed today, up by 0.15%, after the shares of the leading companies in the market rose.

The stock market traded 687.5 million shares, at a value of 421.4 million dinars, through 486 deals concluded on the shares of 33 companies.

The shares of Baghdad Bank increased by 1.12%, Pepsi Baghdad by 0.36%, and Al-Taif Bank by 8.3%, while the shares of the Economy Bank companies lost by 6.6% and Sumer Bank by 5.2%.

The industrial sector ranked first in terms of turnover, which amounted to 213 million dinars, followed by banks, with a value of 208 million dinars.

Foreign investors bought the shares of the Bank of Baghdad, the National Bank and Al-Mansour Bank, at a value of 25 million dinars.

Trading was launched today, on Al-Mansour Hotels shares, after the end of the General Assembly meeting. https://economy-news.net/content.php?id=33171

During 2022... Iraq's Oil Exports To America Will Increase By 98%

Economy| 09:53 - 03/28/2023 Follow-up - Mawazine News Iraq's oil exports to America amounted to more than 113 million barrels during 2022, according to what was announced by the US Energy Information Administration.

The administration stated, "Iraq's exports of crude oil and its products to America during the year 2022 amounted to 113.941 million barrels, an increase of 98.93% over the year 2021, in which oil exports to America amounted to 57.277 million barrels."

She added, "The highest rate of Iraqi exports of oil and its products to America during the past ten years was in 2017, when these exports amounted to 220.499 million barrels, and the lowest exports during the past ten years were in 2021." https://www.mawazin.net/Details.aspx?jimare=223050

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

https://www.bondladyscorner.com/

DINARRECAPS8 3/28/23 DINARRECAPS8 3/28/23

Tuesday Morning Iraq Economic News Highlights 3-28-23

The Official Exchange Rate Will Match The Parallel Exchange Rate Within A Few Weeks Or Months

Sudanese advisor: Economy| 12:02 - 03/28/2023 Baghdad - Mawazine News, the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed, on Tuesday, in numbers, the volume of daily financial transfer through the window of the Central Bank and Iraq's hard currency reserves, considering that the Iraqi economy is "strong and moving towards improvement."

Tuesday Morning Iraq Economic News Highlights 3-28-23

The Official Exchange Rate Will Match The Parallel Exchange Rate Within A Few Weeks Or Months

He added, “There is freedom in the transfer of trade and capital, such as buying a property outside the country, provided that it passes through the correct digital banking tools and through international compliance,” noting that “this procedure generated two prices for the dollar: the first is official, and the other is parallel, except that the difference between the two prices It started to shrink over time.

Salih reassured the Iraqis, that "Iraq's reserves are sufficient and freedom of transfer is available through legal frameworks and compliance, as imports take place at an exchange rate of 1,300 dinars to the dollar, and this gives strength to the Iraqi dinar," noting that The central bank's reserves today are around 115 billion dollars, which is the largest reserve in the history of the country.

Valid: The Official Exchange Rate Will Match The Parallel One In A Few Weeks Or Months

Money and business Economy News _ Baghdad Today, Tuesday, the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed in numbers the volume of daily financial transfer through the window of the Central Bank and Iraq's hard currency reserves, while indicating that Iraq's economy is strong and moving towards improvement.

Saleh said in an interview with the Iraqi News Agency, followed by "Al-Iqtisad News", that "the Iraqi financial sector is living in a transitional circumstance, which includes several goals, including reducing the value of the dollar against the dinar from 1450 dinars per dollar to 1300 dinars per dollar," noting that "there are currently no transfers." transient, ambiguous, or intersection with international compliance.”

He stressed that "the economic situation is gradually improving as long as there is freedom of transfer that must be subject to compliance," noting that "

And he stated that "the banks began to comply properly, and began to conduct the correct transfers," pointing out that "the external transfer number from the central bank window reached a normal rate, which is 200 million dollars per day."

Salih reassured the Iraqis that "Iraq's reserves are sufficient and freedom of transfer is available through legal frameworks and compliance, as imports are made at an exchange rate of 1,300 dinars to the dollar, and this gives strength to the Iraqi dinar," noting that "the central bank's reserves today are around $115 billion, which is It is the largest reserve in the country's history."

And he indicated that "the Iraqi economy is strong and faces crises easily, and the situation is heading towards improvement," explaining that "Iraq is towards gradually improving the climate for digital payments and compliance with the world."

He pointed out that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen," noting that " https://economy-news.net/content.php?id=33165

The Central Bank Of Iraq Auction Sales Of The Dollar Increased

2023-03-28 04:39 Shafaq News/ The Central Bank of Iraq's sales of dollars increased in an auction today, Tuesday, by 13%, to reach 230 million US dollars.

Shafaq News agency reporter stated that the Central Bank sold today, during its auction for buying and selling US dollars, 230 million 3 thousand and 162 dollars, an increase of 13.86% compared to yesterday, Monday, in which sales amounted to 202 million 134 thousand and 715 dollars, which the bank covered at a basic exchange rate. It amounted to 1305 dinars per dollar for documentary credits and international settlements of electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and the same price per dollar in cash.

Our correspondent added that most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits) at 178 million 403 thousand and 162 dollars, while the rest of 51 million and 600 thousand dollars went in the form of cash sales.

Our correspondent indicated that the number of banks that bought the cash dollar amounted to 13, while the number of banks that met requests for strengthening balances abroad reached 20, while the total number of exchange and mediation companies participating in the auction was 212 companies. LINK

Recommendations To Address The Repercussions Of Changing Exchange Rates

The first 2023/03/28 Yesterday, Monday, the Ministry of Planning submitted recommendations to the Council of Ministers to address the repercussions of changing exchange rates on the movement

Economic.

And the ministry’s statement stated that “The Undersecretary for Technical Affairs, Maher Hammad Johan, held an expanded meeting with the participation of the Investment Authority and a number of government agencies, representatives of the Iraqi Contractors Union, the Iraqi Federation of Industries, the Baghdad Chamber of Commerce, and the Foundation for Sustainable Development, to discuss the effects of changing the exchange rate in the Iraqi market.” ".

The statement indicated that "the meeting discussed a number of proposals and recommendations, which aim to address the repercussions of changing exchange rates on the economic and commercial movement," stressing that "the ministry will present its recommendations to the Council of Ministers during the coming period."

The statement pointed out that "Prime Minister Muhammad Shia' al-Sudani directed earlier that the Ministry of Planning should study the effects of changing the exchange rate in the Iraqi market."

Edited by: Marwa Sattar https://alsabaah.iq/74141-.html

Advisor To The Prime Minister: Iraq's Economy Is Strong And Moving Towards Improvement

Baghdad - The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed, today, Tuesday, in numbers, the volume of daily financial transfer through the window of the Central Bank and Iraq's hard currency reserves, while indicating that Iraq's economy is strong and moving towards improvement.

Saleh told the Iraqi News Agency (INA): "The Iraqi financial sector is living in a transitional circumstance, which includes several goals, including reducing the value of the dollar against the dinar from 1,450 dinars per dollar to 1,300 dinars per dollar," noting that "there are currently no transient or mysterious external transfers." or intersection with international compliance.

He emphasized that "the economic situation is gradually improving as long as there is freedom in transfers that must be subject to compliance," noting that "during the next few weeks or months, the official exchange rate will match the parallel."

Salih reassured the Iraqis that "Iraq's reserves are sufficient and freedom of transfer is available through legal frameworks and compliance, as imports are made at an exchange rate of 1,300 dinars to the dollar, and this gives strength to the Iraqi dinar," noting that " The central bank's reserves today are around $115 billion, which is It is the largest reserve in the country's history."

He pointed out that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen," noting that "we have entered the stage of digital payments correctly in Iraq."

https://www-ina-iq.translate.goog/181568--.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Al-Bayati: The Budget Will Be Decided During Next April, And The Kurds Will Not Hinder Its Passage

Information / Baghdad... Former MP Jassim Al-Bayati suggested that the budget would be decided and passed during the coming month of April, ruling out that the Kurdish representatives would be a stumbling block to passing the budget.

Al-Bayati told Al-Maalouma, that "the budget will be passed during next April, especially in the event that all problems related to the region's budget and other matters related to it, such as oil revenues and other amounts owed by the region, are resolved."

He added, "The Kurds, in the event of objection to the budget and the tendency to boycott its parliament sessions and its paragraphs, they will be the first losers in this matter."

And he indicated that "the Kurds had previously boycotted the parliament's sessions on the draft budget, and the result was clear at the time, and the budget was passed, and therefore they have become smarter than that and will not resort to boycotting or rejecting the budget and its paragraphs, but rather they will go towards imposing some pressure." ended 25 n LINK

Oil Prices Are Moving In A Narrow Range Due To Supply Concerns And The Banking Crisis

Tuesday 28 March 2023 Economical Number of readings: 334 Baghdad / NINA / - Oil prices moved in a narrow range during the early Asian trading hours today, Tuesday, after rising in the previous session, as oil markets focused on the unfolding banking crisis, supply concerns and indications of a rise in oil prices.

According to the economic bulletin of Reuters news agency, Brent crude futures fell 0.5 percent to $77.73 a barrel at 04:18 GMT. US West Texas Intermediate crude fell 0.19 percent, to settle at $72.67 a barrel.

Prices rose during the previous session after Turkey stopped pumping oil from the Kurdistan region through a pipeline, after a decision in an arbitration case confirmed that Baghdad's approval was required to ship the oil.

And the announcement of the First Citizens Bankers Bank, yesterday, Monday, that it would take over the deposits and loans of the bankrupt Silicon Valley Bank, raised feelings of optimism about the situation of the banking sector, which caused turmoil in the financial markets.

The US authorities have reportedly begun discussing expanding the emergency lending facility.

Oil prices were supported by indicators of the strength of Chinese demand.

An annual forecast issued yesterday by a research unit of the China National Petroleum Corporation indicated that China's imports of crude oil are expected to increase by 6.2% in 2023 over last year, to reach 540 million tons.

A preliminary survey conducted by Reuters showed that US crude oil inventories increased by about 200,000 barrels last week./ https://ninanews-com.translate.goog/Website/News/Details?key=1043146&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The Financial Times: The Dollar Crisis Revealed The Fragility Of The Iraqi Economy

A report by the British newspaper, the Financial Times, confirmed, on Monday, that Iraq has been struggling to control the financial crisis that has been plaguing the country for months, which confirms the fragility of the Iraqi economy, which depends on oil, twenty years after the US invasion of the country.

The report stated that “the governor of the Central Bank, Ali Mohsen Al-Alaq, defended the measures taken to achieve stability in the monetary currency, which led to a severe shortage of the dollar and a decline in the value of the Iraqi currency.”

Al-Alaq said, "We focused on solving the root of the problem and we see some positive indicators," referring to the efforts of the Iraqi government and the Central Bank to calm the panic that prevailed since the outbreak of the crisis last November.

The report added, "The package of measures has resulted in unintended repercussions, including a significant unintended decrease in the supply of dollars in an economy where the US currency is highly favored, which has led to high inflation and created hardship for Iraqis who do not trust their institutions or their currency."

He continued, "Iraq's weak economy depends almost entirely on shifts in global oil prices, and record oil revenues have swelled the coffers of the second largest producer in the Organization of the Petroleum Exporting Countries (OPEC) to more than $100 billion, although Baghdad cannot Access to funds is only through the US Federal Reserve, which has been holding Iraq’s foreign exchange reserves since the invasion.”

And he explained, “Under this arrangement, the Central Bank of Iraq requests its dollars from the Federal Reserve and sells them to commercial lenders and exchange companies for a dinar, a process known as the daily dollar auction. But US and Iraqi officials have long complained that widespread fraud allowed large sums to be withdrawn from the country.

And he indicated that “some banks and merchants are unwilling to disclose the details of the final recipients, while others have been slow to adapt to the rules.” With the refusal of many transfer requests from Iraq's accounts at the Federal Reserve, it has reduced the supply of dollars in the market.

The volume of these transfers has fallen from an average daily value of $180 million in 2022 to between $65 million and $75 million this year, according to central bank data.

For his part, Al-Alaq said, “There are signs of progress. “We are seeing a steady rise in the number of transactions on the digital platform and we are seeing more Iraqi merchants formally register to participate.” However, experts warned that it could take several months before Iraqi banks fully adapt, and years for the economy to fully move away from informality and dominance. criticism".

https://takadum-news.com/archives/156526

Dinar Recaps 20 3/28/23 Dinar Recaps 20 3/28/23

"Tidbits From TNT" Tuesday Morning 3-28-2023

TNT:

CandyKisses: Saudi Crown Prince praises Chinese role in Saudi-Iranian deal initiative

Baghdad / Nina / Saudi Crown Prince Mohammed bin Salman praised the Chinese role in the initiative of the Saudi-Iranian agreement.

On Tuesday morning, the Crown Prince held a phone call with Chinese President Xi Jinping, during which he stressed the importance of strategic relations between the Kingdom and the People's Republic of China.

During the call, the Crown Prince expressed the Kingdom's appreciation for the Chinese initiative to support efforts to develop good-neighborly relations between the Kingdom and the Islamic Republic of Iran.

For his part, the Chinese president praised the Kingdom's role in strengthening and developing his country's relations with the GCC countries and the countries of the Middle East.

TNT:

CandyKisses: Saudi Crown Prince praises Chinese role in Saudi-Iranian deal initiative

Baghdad / Nina / Saudi Crown Prince Mohammed bin Salman praised the Chinese role in the initiative of the Saudi-Iranian agreement.

For his part, the Chinese president praised the Kingdom's role in strengthening and developing his country's relations with the GCC countries and the countries of the Middle East.

Tishwash: A new delegation from the Kurdistan Regional Government visits Baghdad

A new delegation from the Kurdistan Regional Government visits Baghdad

The Kurdistan Regional Government of Iraq announced today, Tuesday, that a government delegation headed by Minister of Finance and Economy Awat Sheikh Janab will visit Baghdad to continue negotiations with the federal government. link

************

CandyKisses: Al-Bayati: The budget will be decided during next April, and the Kurds will not hinder its passage

Information / Baghdad...

Former MP Jassim Al-Bayati suggested that the budget would be decided and passed during the coming month of April, ruling out that the Kurdish representatives would be a stumbling block to passing the budget.

He added, "The Kurds, in the event of objection to the budget and the tendency to boycott its parliament sessions and its paragraphs, they will be the first losers in this matter."

************

Tishwash: Crippling dollar shortage underscores vulnerability of Iraq’s oil-based economy

Attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet

Iraq is struggling to control a crippling currency crisis that has roiled the country for months, underlining the fragility of its oil-dependent economy 20 years on from the US-led invasion.

Ali Mohsen al-Allaq, the new central bank governor, defended measures introduced to stabilise the monetary crisis that has led to an acute shortage of US dollars and a sharp fall in the dinar. “We’ve focused on resolving the root of the problem and we’re seeing some positive indicators,” Allaq said in an interview, referring to central bank and government efforts to calm the panic that has taken hold since the crisis erupted in November.

This was when Iraqi’s authorities, with the US, implemented tough rules for banks as part of efforts to stamp out money laundering and surreptitious cash flows abroad. But the package of measures had unintended consequences, including drastically cutting the dollar supply in an economy where the US currency is heavily favoured, pushing up inflation and creating hardships for Iraqis who trust neither their institutions nor their own currency. Hamoody Ismail, 27, a personal trainer in Baghdad, said he was struggling to find the $4,300 he was due to pay in rent and business payments.

“My landlord refuses to take dinars and I’ve spent several days this week trying to find dollars.” Iraq’s vulnerable economy is almost entirely dependent on shifts in global oil prices. Record oil revenues have swelled the coffers of Opec’s second-largest producer to more than $100bn, although Baghdad can only access the money through the US Federal Reserve that has held Iraq’s foreign exchange reserves since the 2003 invasion that toppled Saddam Hussein.

Under the arrangement, Iraq’s central bank requests its dollars from the Fed and sells them to commercial lenders and exchange houses for dinars, a process known as the daily dollar auction. But US and Iraqi officials have long complained that widescale fraud allowed large sums to be taken out of the country, with some of the dollars ending up in the hands of armed groups under US sanctions in Iran, Syria and Lebanon.

“We’ve seen, unfortunately, a growing number of suspicious transactions . . . huge amounts of wire transfers leaving the country with obviously fraudulent basis,” David Burger, a senior US official in Baghdad, said this month.

These concerns were renewed last year after $2.5bn in dinars was stolen from the country’s tax authority, with some of that cash used to buy US currency via the auction process. After the scandal, four Iraqi banks suspected of money laundering were barred from participating in the dollar auctions.

Soon after, the remaining banks were mandated to abandon paper-based methods for a more transparent digital platform for wire transfers. However, some banks and merchants were unwilling to divulge end-recipients’ details, while others have been slow to adapt to the rules. With so many transfer requests from Iraq’s accounts at the Fed being rejected, it has reduced the supply of dollars to the market.

The volume of such transfers has dropped from a daily average value of $180mn in 2022 to between $65mn-$75mn this year, according to central bank data. Allaq, however, said there were signs of progress. “We’re seeing the number of transactions on the digital platform steadily rise . . . we’re seeing more Iraqi merchants officially register to participate.

” However, experts cautioned that it could take many months before Iraqi banks fully adapted, and years for the economy to move away completely from informality and the dominance of cash. The government in February revalued the dinar from ID1,460 to the dollar to ID1,320 to the dollar, but its value on the parallel market, where most Iraqis source their dollars, remains about 18 per cent lower.

Other measures aimed at tackling the monetary crisis have exacerbated the problem. These include prohibiting cash machine withdrawals in dollars and cracking down on money changers who price their dollars higher than the official rate. Another scheme was introduced allowing travellers to exchange dinars for up to $7,000 at airports for use abroad.

This led to money changers booking flights they would not take just to access the US currency, to then sell on the black market.

“For weeks we’ve seen flights to Amman or Beirut that are sold out on the system but the planes are empty,” said an airline employee at Baghdad airport. The loophole was tightening last week, with the maximum sum cut to $2,000. Some of those dollars have ended up in Lebanon, gripped by its own economic crisis.

One money changer explained that, for weeks, he has been sending dozens of Iraqis to withdraw dollars at Baghdad’s airport daily to bring them to Lebanon. “We make about $1,200 off every $10,000 brought in from Iraq.

” Allaq, the central bank chief, said: “Our biggest problem is that Iraqis rely on cash dollars. Is it not strange that a person pays with a foreign currency in their own country? “The whole world is moving towards abandoning cash and Iraq must do that too.” link

Mot: .. they say this is How it ended!! ~~~

Mot: ... sooooo Appropriate!! – siiggghhhhhhhhh

DINARRECAPS8 3/27/23 DINARRECAPS8 3/27/23

Monday Evening Iraq Economic News Highlights 3-27-23

Al-Abadi: Dollar Smuggling Rates During Bremer's Time Are The Highest In Iraq's History

Monday, 03-27-2023, Tayseer Al-Asadi Al-Abadi: Dollar smuggling rates during Bremer's time are the highest in Iraq's history 9-1679903931

Former Prime Minister Haider al-Abadi revealed, on Monday, the highest levels of currency smuggling during the era of the so-called head of the American occupation authority Paul Bremer, indicating that the total oil revenues in the years 2015, 2016 and 2017 were around $130 billion.

Monday Evening Iraq Economic News Highlights 3-27-23

Al-Abadi: Dollar Smuggling Rates During Bremer's Time Are The Highest In Iraq's History

Monday, 03-27-2023, Tayseer Al-Asadi Al-Abadi: Dollar smuggling rates during Bremer's time are the highest in Iraq's history 9-1679903931

Al-Abadi said in a televised interview that "the rate of currency auction sales was very high during the years of the presence of the American occupation forces in Iraq and Paul Bremer's presidency of the occupation authority."

He added, "- The banking system needs a new vision by the Central Bank and the government to revitalize it. I have reviewed the currency auction numbers since its inception and made the required reforms."

He pointed out that "the talk about smuggling 260 billion dollars during 2017 is false, as the total oil revenues in the years 2015, 2016 and 2017 were around 130 billion dollars," noting that "the rates of currency auction sales witnessed a decline when I assumed the premiership and during the time of Adel Abdul-Mahdi." https://non14.net/public/155707

Planning Makes Recommendations To The Council Of Ministers To Address The Market Implications Of Changing Exchange Rates

PM:02:38:27/03/2023 Today, Monday, the Ministry of Planning announced that it had submitted recommendations to the Council of Ministers to address the repercussions of changing exchange rates on the economic movement.

The ministry said, in a statement received by NRT Arabia, a copy of it, that “The Undersecretary for Technical Affairs, Maher Hammad Johan, held an extensive meeting with the participation of the Investment Authority and a number of government agencies, representatives of the Iraqi Contractors Union, the Iraqi Federation of Industries, the Baghdad Chamber of Commerce, and the Foundation for Sustainable Development, to discuss the effects of changing the exchange rate on the Iraqi market.

The statement added, "The meeting discussed a number of proposals and recommendations, which aim to address the repercussions of changing exchange rates on the economic and commercial movement," stressing that "the ministry will present its recommendations to the Council of Ministers during the coming period."

And he continued, "Prime Minister Muhammad Shia'a al-Sudani directed earlier that the Ministry of Planning should study the effects of changing the exchange rate on the Iraqi market." N.A

https://www-nrttv-com.translate.goog/ar/detail3/11232?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Chinese Companies Account For The Largest Share Of Iraq's Oil Exports In A Month

2023-03-27 01:13 Shafaq News/ The Iraqi Oil Marketing Company, "SOMO", announced on Monday that the Chinese oil companies were the most numerous to buy Iraqi oil during the month of February.

"SOMO" stated in a statistic published on its official website and seen by Shafaq News agency, that the share of "Chinese companies was 7 companies out of 35 companies that bought oil during the month of February."

She added, "Indian companies came second with 6 companies, American companies came third with four companies, then South Korean companies came fourth with three companies, and Italian, Japanese and Greek companies came with two companies each."

She indicated that "the rest was distributed among the (Dutch-British), Russian, Emirati, Egyptian, Jordanian, Kuwaiti, Spanish, Turkish and French companies, with one company for each of them."

Somo indicated that it "depends on the sale of Iraqi oil on the main criteria for contracting with large, medium, independent and vertically integrated governmental global oil companies," noting that "the most prominent international companies that have bought Iraqi oil are the Indian company, Hindustan, Korean Cocas, Chinese Petrogene, US Exxon Mobil, and Shell." British Dutch and Italian Eni. LINK

Oil.. Iraq's Only Card For Pressure

Iraq 2023/03/27 Haider Al-Jaber Iraq is engaged in negotiations on more than one level, including complex ones such as its water rights, and simple ones such as the border with Kuwait, which requires possession of pressure cards on the other side, or what falls under the framework of soft powers.

Iraq appears to be empty of important papers. According to MP Briar Rashid, it possesses only the economic paper represented by oil.

Rashid told Al-Sabah: "Iraq has nothing but the economy card, which is the oil paper. As for talking about preventing imports, it is illogical because there is no alternative." He added, "Iraq can only pressure through oil to achieve progress in negotiations, with the absence of influential soft forces.

Internal political stability is one of the most important sources of strength for any political system, and the Dean of the Faculty of Political Science at Al-Mustansiriya University, Dr. Khaled Abd al-Ilah, that Iraq is going through a state of relative stability that must be invested in the coming years.

Abd al-Ilah said to "Al-Sabah": "Every country that wants to embark on a foreign policy and possesses auxiliary forces must provide a stable internal policy that meets the national interest." Stressing that "Iraq is going through a state of relative internal stability, and if this continues in the coming years, foreign policy will be able to strengthen relations regionally and internationally."

He explained that "political stability in its broad sense is not related to the political dimension only, but also in the economic, trade and investment fields. This strength is at the level of visits to the countries concerned.

Until now, Iraq does not have an effective pressure card other than the economy paper, which is confirmed by the academic and political analyst, Dr. Abd al-Amir al-Aboudi, who told "Al-Sabah": "It is necessary to identify the problems of the Iraqi state in a way that leads to negotiations with the designated party."

He added, "Iraq's problems are distributed with certain countries, which are the neighboring countries, in addition to America." It affects democratic countries more than others.

Edited by: Muhammad Al-Ansari https://alsabaah.iq/74044-.html

Details Of An Expanded Meeting To Discuss The Impact Of Changing The Exchange Rate On The Iraqi Market

Money and business Economy News – Baghdad The Ministry of Planning announced, on Monday, that it will submit recommendations to the Council of Ministers to address the repercussions of changing exchange rates on the economic movement.

The ministry said in a statement, "The Undersecretary for Technical Affairs, Maher Hammad Johan, held an extensive meeting with the participation of the Investment Commission and a number of government agencies, representatives of the Iraqi Contractors Union, the Iraqi Federation of Industries, the Baghdad Chamber of Commerce, and the Foundation for Sustainable Development, to discuss the effects of changing the exchange rate on the market." Iraqi.

She added, "The meeting discussed a number of proposals and recommendations, which aim to address the repercussions of changing exchange rates on the economic and commercial movement," stressing that "the ministry will present its recommendations to the Council of Ministers during the coming period." Ended 29/N33 https://economy-news.net/content.php?id=33148

Experts: Banking Companies “Violate” The Instructions Of The Central Bank

The first 2023/03/27 Baghdad: Shukran Al-Fatlawi Experts in financial matters called on the Central Bank to stop dealing with exchange companies that violate the instructions for selling dollars, while they called for setting weekly or monthly quotas for each merchant or customer in order to increase the supply of dollars in the parallel markets.

Yesterday, Sunday, the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded 154,200 Iraqi dinars, compared to 100 dollars. Financial expert Ahmed Al-Hathal told Al-Sabah, “Regulating the exchange market requires dealing with the dollar as a commodity subject to supply and demand, by setting weekly or monthly quotas according to the need for the merchant or customer,” noting that “this produces a large supply of dollars, and thus the price approaches.” parallel to the official price.

In a move that enhances the value of the local currency against the dollar, the Central Bank last month amended the official dollar exchange rate to 1,300 dinars, instead of 1,470 dinars. Al-Hathlal added that "a number of licensed exchange companies violate the Central Bank's instructions, as they use false data in the dollar transfer process, so the Central Bank should withhold their dollar share and not deal with them," explaining that "these people form a (cartel) that monopolizes the dollar in order to Achieving monopolistic profits, not economic ones.

For his part, economist Dr. Adnan Bahia told Al-Sabah that "the reform packages of the Central Bank focused on increasing dollar sales outlets, which indicates a real breakthrough in the crisis." He explained that "some banks in Europe have reduced confidence in the dollar, and China's dealings with a number of countries have begun in Chinese yen, which will lead to a decrease in global demand for the dollar and thus a decline." the prices". https://alsabaah.iq/74055-.html

Al-Rafidain Issued A Statement Regarding Electronic Advances

Economy - 27-03-2023 09:18 AM - Number of readings: 8905 Al-Rafidain Bank specified electronic advances for employees, employees of the Ministry of Interior and Defense, and retirees, which will be without the condition of the sponsor.

The bank's media office said in a statement received by "Tigris", today, Monday, that "the advances start from 5 million up to 25 million, according to the borrower's entitlement, which is commensurate with the amount of his total monthly salary."

He added, "The advance is guaranteed by the Master Card issued by the Rafidain Bank, without the need for a guarantor condition." https://www.dijlah.tv/index.php?page=article&id=326192

DINARRECAPS8 3/27/23 DINARRECAPS8 3/27/23

Iraqi News Highlights Monday Afternoon 3-27-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Reveals Four Resources To Bridge The 2023 Budget Deficit Of 64 Trillion Dinars

Posted On2023-03-27 By Sotaliraq Today, Saturday, the Parliamentary Finance Committee revealed four resources that contribute to bridging the 2023 budget deficit, which amounts to 64 trillion dinars.

Committee member Moeen Al-Kazemi said, according to the official newspaper, that “the investment of associated and free gas was discussed during the visit of Prime Minister Muhammad al-Sudani to Germany and France,” noting that “there is a great desire of the European Union to enter this sector and work to deliver it to Europe through pipelines.” through Turkey.”

Iraqi News Highlights Monday Afternoon 3-27-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Reveals Four Resources To Bridge The 2023 Budget Deficit Of 64 Trillion Dinars

Posted On2023-03-27 By Sotaliraq Today, Saturday, the Parliamentary Finance Committee revealed four resources that contribute to bridging the 2023 budget deficit, which amounts to 64 trillion dinars.

Al-Kadhimi added, “Treating associated gas and benefiting from it instead of burning it over the past decades is a priority today,” pointing out that “exploiting associated gas needs more time and cannot be included in the 2023 budget as revenues, but rather will need financial allocations to rehabilitate and control it. Associated gas can be included in the imports of 2024 and 2025 in order for Iraq to dispense with importing gas from neighboring countries.

Regarding the budget for the current year, he explained that “the deficit is within the range of 64 trillion Iraqi dinars, as the Ministry of Finance presented the budget, including an offer to cover the deficit through four resources,” explaining that “the first resource is the difference between the actual oil sale price with the price approved in the budget of $70.” While it is sold for 80 dollars, here the 10 dollars is a financial abundance that can increase revenues from 146 to higher.

He added, “The second resource is the possibility of exporting an additional 200 thousand barrels of oil, which is another source instead of three million and 700 thousand barrels, in addition to the financial abundance of the state treasury from previous years, and there are approximately more than 20 trillion dinars that can be used as financial abundance, loans, and others.”

The deficit can be filled from it,” pointing out that “the Finance Committee will work to reduce the deficit, because the budget was drawn up for three years and negative possibilities such as the drop in the oil price must be taken into account, and for this the operational budget can be reduced and the investment budget supported, with a period of study in the House of Representatives that may exceed 45 days in the long term.

Regarding the funds of the Emergency Food Security Law and the follow-up of their disbursement, he indicated that “some of the law’s funds were disbursed and others are still in the government’s accounts, and there are 9 trillion Iraqi dinars allocated for the development of the regions and were not spent in 2022 because time was limited.” LINK

Al-Hakim Calls On The Authorities To Control Commodity Prices In The Markets And Prevent The Greed Of Merchants

Monday, March 27, 2023 5:16 PM Baghdad / National News Center Today, Monday, the head of the National Wisdom Movement, Mr. Ammar al-Hakim, called on the supervisory and security authorities to prevent the greed of some merchants and hold the exploiters accountable.

Al-Hakim said, in a statement received by the National News Center, that "in the month of mercy and humanity, it pains us and we regret that the Iraqi market is witnessing an unprecedented rise in the prices of many commodities, goods, and living requirements."

He added, "This caused a state of exhaustion among citizens, especially those with limited incomes, and prompted them to demand the need to control the local market and stop this suspicious rise."

And Mr. Al-Hakim continued, “As we add our voice to the voice of our people, we urge the regulatory and security authorities to control the rhythm of prices, prevent the greed of some merchants, hold the exploiters accountable, and maintain economic security and seek its stability, as it is no less important than others.” https://nnciraq.com/196233/

A Slight Decrease In The Exchange Rate Of The Dollar Against The Dinar

Monday 27 March 2023 09:47 | Economical Number of readings: 421 Baghdad / NINA / - Today, Monday, the exchange rates of the dollar against the dinar witnessed a slight decrease in the local markets.

And the selling prices for the dollar were recorded this morning, 155,000 dinars per 100 dollars, while the purchase prices amounted to 154,000 dinars per 100 dollars./ End 8

https://ninanews.com/Website/News/Details?key=1042994

An Economist Warns Of A Rise In Inflation Rates After Increasing The Money Supply To 93 Trillion Dinars

Monday 27 March 2023 08:42 | Economical Number of readings: 473 Baghdad / NINA / - The expert in economic affairs, Raad Twij, warned today, Monday, of high inflation rates as a result of the increase in the monetary mass from 83 trillion dinars to 93 trillion dinars.

Twij said in a statement to the National Iraqi News Agency ( NINA ) that "inflation rates indicate a rise more than expected, as it may reach more than 10% as a result of the presence of a large incentive for inflation, which is the increase in the monetary mass from 83 trillion dinars to 93 trillion dinars, according to the governor's statements." The Central Bank of Iraq at the Sulaymaniyah Forum.

Twigg added: "It is expected that the monetary mass will become 103 trillion dinars after the approval of the budget."

And the economist continued, "The inflation rate was equivalent to 7.6% in January and is now at a significant increase, which portends a catastrophe for inflation in the Iraqi economy."/ End

https://ninanews.com/Website/News/Details?key=1042893

Planning: We Will Soon Present Recommendations To The Council Of Ministers To Address The Repercussions Of Changing The Exchange Rate

Economy| 01:51 - 03/27/2023 Baghdad - Mawazine News The Ministry of Planning announced, on Monday, that it will soon submit recommendations to the Council of Ministers to address the repercussions of changing exchange rates on the economic movement.

The rise in oil prices in light of the receding fears in the markets

Economy| 10:23 - 03/27/2023 Follow-up - Mawazine News Oil prices rose, in trading today, Monday, after declining last week, and the rise came in light of the receding concerns in the markets about global demand for crude. By 09:22 Baghdad time, US West Texas Intermediate crude futures rose 0.66% to $69.72 a barrel. While Brent crude futures rose by 0.56% to $74.41 a barrel, according to Bloomberg agency data. Ended https://www.mawazin.net/Details.aspx?jimare=222970

Al-Hakim: Approving The Oil And Gas Law Is An "Urgent Necessity"

Political | 12:32 - 03/27/2023 Baghdad - Mawazine News, the head of the Wisdom Movement, Ammar al-Hakim, considered, on Monday, the approval of the oil and gas law as an "urgent necessity."

Al-Hakim said in a statement, "We met members of the Parliamentary Oil, Gas and Natural Resources Committee, and we discussed with them developments in the political and economic scene and the government's paths in providing services."

Al-Hakim added, "We stressed the importance of working on approving the oil and gas law as it represents the legal ground for oil, gas and natural resources activity, especially after the decisions taken by the Federal Court in this regard, which made it an urgent necessity."

And he continued, "We called for the adoption of the national interest in the legislative and oversight performance of the committee, and we indicated the importance of preserving Iraqi wealth and working to invest it and convert it into development projects that benefit future generations. We also called for investing in political stability to pass pending laws."

https://www.mawazin.net/Details.aspx?jimare=222980

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

https://www.bondladyscorner.com/

DINARRECAPS8 3/27/23 DINARRECAPS8 3/27/23

Monday Morning Iraq Economic News Highlights 3-27-23

Planning: We Will Soon Present Recommendations To The Council Of Ministers To Address The Repercussions Of Changing The Exchange Rate

Monday Morning Iraq Economic News Highlights 3-27-23

Planning: We Will Soon Present Recommendations To The Council Of Ministers To Address The Repercussions Of Changing The Exchange Rate

Deputy shows the mechanism of distributing the investment budget between the provinces[/size]

political| 03:08 - 03/27/2023 Baghdad - Mawazine News, the representative of the Sadiqun Bloc, Ali Turki Al-Jamali, confirmed, on Monday, that the investment budget will be distributed in varying proportions through the Fund for Reconstruction and Development of the region, indicating that the distribution will be based on the poorest and liberated governorates.

Al-Jamali said, according to his bloc's media, that "although the draft budget law for the current year was not sent to the concerned committees, which are legal, financial and planning, the size of the investment budget is very small compared to the operational budget."

He added, "The investment budget will be distributed in varying proportions through the Fund for Reconstruction and Regional Development," noting that "the distribution will be based on the poorest and liberated governorates."

And Al-Jamali explained, "The investment part of the budget amounts to 49 trillion, or about 25% of the total amounts allocated by the government for the law, but we hope that the investment budget will be higher than what was announced in the government project." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=222993

Oil Rises As Concerns About Banking Sector Turmoil Recede

Energy Economy News-Baghdad Oil prices rose in early trade on Monday as concerns about turmoil in the banking sector eased.

Brent crude futures rose 33 cents, or 0.4 percent, to $75.32 a barrel by 0040 GMT. The price of US West Texas Intermediate crude was $69.65 a barrel, up 39 cents, or 0.6 percent.

Brent rose 2.8% last week, while WTI rose 3.8% after banking sector turmoil subsided.

Tony Sycamore, market analyst at IG, said the rise in oil prices was a comfortable recovery and part of a correction after a 16 percent drop in the past two weeks.

Prices also rebounded after Russian President Vladimir Putin said he would deploy tactical nuclear weapons in neighboring Belarus, escalating geopolitical tensions in Europe over Ukraine.

Russian Deputy Prime Minister Alexander Novak said on Friday that Moscow is very close to achieving its goal of reducing crude production by 500,000 barrels per day, to about 9.5 million barrels per day.

Data from industry sources and Reuters accounts showed on Friday that Russia plans to cut refinery operations (TADAWUL:2030) in April, allowing it to maintain crude oil exports while adhering to previously announced production cuts.

Looking at crude oil, Russian oil product exports have been hit hardest by far by the recent EU embargo, with tons of diesel on board ships waiting for buyers. https://economy-news.net/content.php?id=33139

Parliament Is "Convinced" Of The Budget And New Promises For Retirees

The first 2023/03/27 Shaima Rashid: The House of Representatives again made promises to a segment that includes hundreds of thousands of retired Iraqis regarding increasing their pensions within the federal budget for the current year, despite the high deficit ceiling.

The Parliamentary Economic Committee expressed its satisfaction with the investment budget, and pledged to move the wheel of industrial projects to provide job opportunities for young people, while including in the budget an increase in the salaries of retirees.

A member of the committee, Sardi Nayef Al-Mihyawy, said, in an interview with Al-Sabah: “We, as members of the House of Representatives, waited for the budget to be sent to Parliament, and today we will work to add paragraphs to it, including the increase in the pensions of retirees.”

He added that “the committee will work for the retirees and will not pass it.” budget except with the adoption of amendments in their favour. Regarding the investment budget, Al-Mehyawy explained: "There is nothing wrong with it, on the contrary, many industrial and agricultural projects have been idle for a long time, and this budget is in line with the aspirations of our youth who do not have job opportunities." Edited by: Ali Abdel-Khalek https://alsabaah.iq/74057-.html

Haider Al-Mulla: The Tripartite Budget Leads To Stability... And The "Boy" Will Prevent Its Passage

Policy |Yesterday, 23:27 Haider Al-Mulla: Baghdad today – Baghdad The Iraqi politician and former deputy, Haider Al-Mulla, warned the government of Muhammad Shia'a Al-Sudani, of what he described as "the boy's tricks" in preventing the passage of the financial budget bill.

The House of Representatives had received last week the draft financial budget law and it is still in the drawers of its presidency without putting the law on the agenda of the sessions.

Al-Mulla said in a tweet on Twitter: "A budget for three years will certainly lead to political and economic stability, especially if it is combined with the annual review of the House of Representatives if it calls for a review, provided that the review does not affect the ongoing projects."

Al-Mulla added, "The Sudanese government should beware of the tricks of the boy who will do the impossible not to pass it," as he put it.

It is noteworthy that the Council of Ministers approved, in its meeting on March 13, the three budgets and referred them to Parliament for approval.

A member of the Parliamentary Finance Committee, Moein Al-Kazemi, stressed in a press statement today the need to “review the budget quickly,” pointing out that “the amount of the budget deficit is large, which is 64 trillion dinars, and it will be the same by 2024-2025, and this is a real problem that must be reviewed, if it is possible.” Its coverage is for the year 2023, so how will it be covered for the coming years?” LINK

Al-Abadi: Dollar Smuggling Rates During Bremer's Time Are The Highest In Iraq's History

MONDAY, 03-27-2023, AM 10:58 TAYSEER AL-ASADI Former Prime Minister Haider al-Abadi revealed, on Monday, the highest levels of currency smuggling during the era of the so-called head of the American occupation authority Paul Bremer, indicating that the total oil revenues in the years 2015, 2016 and 2017 were around $130 billion.

Al-Hakim Stresses The Need To Work On Approving The Oil And Gas Law

Policy 2023-03-27 | 01:52 433 views Alsumaria News – Politics The head of the Wisdom Movement, Ammar al-Hakim, stressed today, Monday, the need to work on approving the oil and gas law, as it represents the legal ground for oil and gas activity and natural resources in particular.

The media office of the Wisdom Movement stated in a statement received by Alsumaria News, that "Al-Hakim met with members of the Parliamentary Committee on Oil, Gas and Natural Resources headed by Heibet al-Halbousi, and discussed with them developments in the political and economic scene and the government's paths in providing services."

Al-Hakim stressed, according to the statement, the importance of working on approving the oil and gas law as it represents the legal ground for oil and gas activity and natural resources, especially after the decisions taken by the Federal Court in this regard, which made it an urgent necessity.

Al-Hakim called for "the adoption of the national interest in the legislative and oversight performance of the committee," noting that "the importance of preserving Iraqi wealth and working to invest it and turn it into development projects that benefit future generations." LINK

The Ministry Of Planning Discusses The Effects Of Changing The Exchange Rate On The Iraqi Market

Monday 27 March 2023 14:13 | Economical Number of readings: 155 Baghdad / NINA / - The Ministry of Planning began discussing the effects of changing the exchange rate on the Iraqi market.

A statement by the ministry said that the Undersecretary for Technical Affairs, Maher Hammad Johan, presided over an expanded meeting, with the participation of the Investment Authority and a number of government agencies, representatives of the Iraqi Contractors Union, the Iraqi Federation of Industries, the Baghdad Chamber of Commerce, and the Foundation for Sustainable Development. The meeting discussed a number of proposals and recommendations

. Which aims to address the repercussions of changing exchange rates on the economic and trade movement.

According to the statement, the ministry will present its recommendations to the Council of Ministers during the coming period.

The Prime Minister, Muhammad Shia' al-Sudani, had directed that the Ministry of Planning study the effects of changing the exchange rate on the Iraqi market.

https://ninanews-com.translate.goog/Website/News/Details?key=1043035&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

A Kurdish Representative Reveals The Fate Of The 400 Billion Dinars Sent From Baghdad To The Region

Baghdad-Iraq today: A member of Parliament, Badria Al-Barzanji, revealed the fate of the money that Baghdad sent to the Kurdistan Regional Government as salaries for the region's employees, while accusing the two ruling parties of controlling all the resources of Kurdistan.

Al-Barzanji said in a press interview, "The financial loan that arrived from the federal government to the Kurdistan region, which amounted to 400 billion dinars, was delivered to Kurdish and international oil companies," noting that "the government of Erbil was indebted to these companies.”

And she added, "No one knows where this money goes, even if we wanted and asked the regional government to know the fate of the money that comes from oil revenues, taxes or border entrances, we will not find a deaf ear."

The member of the House of Representatives accused the ruling Kurdish parties, namely (Al-Parti and Al-Yakti), of "controlling all the resources of the Kurdistan region, and financial revenues from various aspects."

Al-Barzanji (a representative of the new generation) stated that "Kurdistan employees, until today, with the approaching end of the current month, did not receive the salaries of last February," pointing out that "the Kurdish people did not benefit from Anything, neither from the sale of oil, nor from the amounts sent by the central government. LINK

Dinar Recaps 20 3/27/23 Dinar Recaps 20 3/27/23

"Tidbits From TNT" Monday 3-27-2023

TNT:

Tishwash: A government plan to distribute electronic POS devices to the local markets

A source in the Iraqi Ministry of Finance revealed, on Monday, a government plan to distribute electronic POS devices to local markets, after completing their distribution to fuel filling stations, with the beginning of next April.

The source told Shafaq News agency, "The first stage of generalizing the electronic payment experience using POS devices will be at fuel filling stations, starting next week, and government banks will start providing station owners with these devices."

He added, "The experience will be expanded to include the private sector, commercial centers, shop owners, companies, malls, stores, markets, and other various sectors."

He explained that "the mechanism for obtaining these devices from government banks will be easy and with smooth procedures by submitting requests to the bank and receiving the device immediately."

TNT:

Tishwash: A government plan to distribute electronic POS devices to the local markets

He added, "The experience will be expanded to include the private sector, commercial centers, shop owners, companies, malls, stores, markets, and other various sectors."

He explained that "the mechanism for obtaining these devices from government banks will be easy and with smooth procedures by submitting requests to the bank and receiving the device immediately."

He pointed out that "this process comes to facilitate financial transactions and provide point-of-sale service to shop owners, malls and companies to enable them to accept payments electronically through MasterCard cards, so that the amounts of transactions executed through the point-of-sale device are automatically transferred from the card account to the merchant's account with the bank."

During the past and current week, the Oil Products Distribution Company piloted the electronic payment process (POS) in a number of fuel filling stations within the capital, Baghdad. link

CandyKisses: An informed source reveals the date of generalizing the electronic payment experience and the plan to expand it

{Local: Al-Furat News} An informed source revealed the date of the start of circulating the electronic payment experience at fuel filling stations.

The source told {Euphrates News} that "the first phase of circulating the electronic payment experience using {pos} devices will be at fuel filling stations starting next week," noting that "the banks of Al-Rafidain, Rashid and others will start providing station owners with these devices."
He pointed out that "the experience will be expanded to include car washing and lubrication stations, the private sector, commercial centers, shopkeepers, companies and malls."

The source added, "The mechanism of obtaining electronic {pos} devices from government banks will be easy and with smooth procedures, by submitting applications to the bank and receiving the device immediately to facilitate financial transactions and provide point of sale service to shop owners to enable them to accept electronic payments through MasterCard cards to transfer the amounts of operations executed through the point of sale device automatically from the card account to the merchant's account with the bank."

************

Tishwash: Iraq signs a memorandum of understanding with three Arab countries for agricultural and trade cooperation

Iraq, Syria, Lebanon and Jordan signed, on Monday, a quadripartite memorandum of understanding for cooperation in the agricultural field and the promotion of trade exchange in order to achieve integration between the four countries.

The memorandum includes the promotion and development of cooperation in the agricultural field, both plant and animal, and the exchange of expertise, information, successful agricultural experiences, and the management of reserves and gardens between the four countries.

It also included cooperation in the field of fire fighting, climate change, rural development, agricultural extension, production, animal health and veterinary medicines.

The Iraqi Minister of Agriculture, Abbas Al-Alaywi, said, "The agreement is a starting point for joint work and cooperation in the agricultural sector, on which most Arab peoples depend. It also provides markets for selling the products of the four countries."

Last year, the four ministers held three meetings, one in Iraq in February, the second meeting in Lebanon in July, and the third meeting in Jordan in September. link

*************

Tishwash: This is the time.. Saudi Arabia and Iran intend to hold a meeting to implement a "historic" reconciliation

Riyadh announced, on Monday, that the Saudi and Iranian foreign ministers pledged to hold a meeting before the end of Ramadan to implement a historic bilateral reconciliation agreement.

The Saudi Foreign Minister, PrinceFaisal bin FarhanAnd the IranianHussein Amir AbdullahianPhone conversations are the second between them in less than a week.

During the call, a number of common issues were discussed in light of the agreement that was signed inChinaAccording to the official Saudi Press Agency (SPA).

Likewise, the two ministers agreed to hold a bilateral meeting between them within a month Ramadan The current one,” according to the agency, which did not specify a time or place for the meeting.

Iran and Saudi Arabia announced that they would resume within two months their diplomatic relations, which were severed since 2016. link

**************

Tishwash: Chinese companies account for the largest share of Iraq's oil exports in a month

The Iraqi Oil Marketing Company, "SOMO", announced on Monday that the Chinese oil companies were the most numerous to buy Iraqi oil during the month of February.

SOMO" stated in a statistic published on its official website and seen by Shafaq News agency, that the share of "Chinese companies was 7 companies out of 35 companies that bought oil during the month of February."

She indicated that "the rest was distributed among the (Dutch-British), Russian, Emirati, Egyptian, Jordanian, Kuwaiti, Spanish, Turkish and French companies, with one company for each of them."

Mot: and Yet another Awareness Tip on Raising the ""Wee Folks"" from Mot of Course!

Mot: ........ Has Yous Noticed.....

DINARRECAPS8 3/27/23 DINARRECAPS8 3/27/23

Iraqi News Highlights Sunday Evening 3-26-23

Tlm724 Administrator Bondlady’s Corner

Unprecedented Gains In The Water And Economy Files... Political Praise For The Results Of The Prime Minister's Visit To Turkey

Investigations and reports 22-03-2023, 22:06 Baghdad - conscious - Nassar Al-Hajj By focusing on sensitive files with a direct impact on the economy and water files, the visit of Prime Minister Muhammad Shia Al-Sudani to Turkey succeeded in achieving what was required, expected and unprecedented, by achieving two important achievements.

Iraqi News Highlights Sunday Evening 3-26-23

Tlm724 Administrator Bondlady’s Corner

Unprecedented Gains In The Water And Economy Files... Political Praise For The Results Of The Prime Minister's Visit To Turkey

The first is the agreement on (Ankara Declaration) to establish the path of development Known as the Dry Canal, which would turn Iraq into a corridor for international trade, which provides great economic gains and enhances Baghdad's pivotal role in the region,

as well as doubling the releases of the Tigris River to secure sufficient water reserves for the summer.

Politicians and academics considered the government's management of foreign relations, which is being strengthened day after day with a new achievement, as confirmation of its success in activating Iraq's pivotal role and investing it in achieving gains at various levels, which did not stop at the limits of what was achieved in Turkey,

but rather exceeded it a short time ago due to the diplomatic success of Iraqi mediation that culminated in negotiations between Saudi Arabia and Iran restore relations between the two countries.

Politicians: The clear Iraqi will succeeded in obtaining water rights

The representative of the State of Law coalition, Alia Nassif, told the Iraqi News Agency (INA), that

"the president's visit to Turkey differs from its predecessors, as

it discussed very important files, and this time

it was with a clear and sincere Iraqi will that brought good and unprecedented results at the level of water quotas, which are governed by and in international laws."

The Iraqi delegation put points on the letters by obligating international law and bilateral agreements guaranteeing water shares between upstream and downstream countries, so that Iraq succeeds in obtaining water rights.

She added, "The Prime Minister opened an important file during the visit, which is the security file, and affirmed Iraq's rejection of the presence of the Workers' Party on its soil,

and stressed the government's rejection of any military presence or activity against the countries of the region," noting that "this file is dangerous and important."

And she continued, "There is another important issue that the prime minister addressed during the visit, which is the agreements related to the recovery of the corrupt, and this is a qualitative development at this stage."

While the leader of the Victory Coalition, Ahmed Al-Wandi, confirmed to the Iraqi News Agency (INA), that

"the file of foreign relations is important in measuring the success of government administration or not, especially since the file of regional relations enjoys a special dynamism, affecting the paths of domestic politics and determining the type of foreign policy." He added,

"Prime Minister Muhammad Shia' al-Sudani succeeded in managing this file," noting that

"the starting point of Iraqi foreign policy is balance and non-alignment towards a pivotal policy, and this is what we were able to achieve during the era of the new government after a period of isolation." He stated that

"Iraq has a huge trade balance with the Turkish Republic, and

the prime minister is aware of the importance of the economic file in negotiating with the Turkish side," noting that

"the results that resulted after his visit must be followed up and remain within the negotiating space until they are achieved."

He continued, " Iraq He is about to play a pivotal role in the framework of defining the features of the region in the next stage," pointing out,

"We are calling on the government to seek a strong and capable Iraq."

Analysts and academics: The economics paper succeeded in creating Turkish flexibility in the face of Iraqi demands

In turn, political analyst Haider Al-Barzanji confirmed to the Iraqi News Agency (INA), that

"among the results achieved from the visit of Prime Minister Muhammad Shia'a Al-Sudani, are water releases and agreement on a set of minutes, including security, in addition to trade exchange, strengthening the role of companies operating in Iraq and opening economic prospects in return for that Repeated attacks are stopped. He added,

"These achievements were not achieved in previous governments, and there is seriousness and effectiveness of the current government in diplomatic moves in managing the economic and security files."

He pointed out that "the policy is pragmatic, and this is what the Turkish president stated in the press conference, as he was sure that The government of Muhammad Shia al-Sudani possesses the ability and strength to manage the file of bilateral relations, which was not previously managed in a correct manner, pointing out that the results of the visit at the economic, security and water levels were not previously achieved.

While the analyst, Ghaleb Al-Daami, indicated to the Iraqi News Agency (INA), that

"a successful state is one that extends good and balanced relations with the rest of the world, and the interest of its people and state prevails over factional interests, so there are no enmities, but rather permanent interests that prove a reality in the international community," stressing that "Our interest is important."

He stressed that "one of the most important results of the Prime Minister's visit to Turkey is the increase in water releases, and if Iraq succeeds in neutralizing the Workers' Party movement, Turkey will open up a lot to Iraq in wide areas."

He stated that "what we need from Turkey is two corridors for Iraqi oil and gas and a fair share of water," pointing to

"the importance of improving Iraq's relations with neighboring countries to reflect positively for the benefit of the Iraqi people."

The researcher in political and strategic affairs, Muhammad al-Jazairi, explained to the Iraqi News Agency (INA), that

"Prime Minister Muhammad Shia' al-Sudani's visit to Ankara carried with it many outstanding files between the two parties, and some problems and matters that began to exacerbate, such as the water and economic files,"

explaining That "the prime minister obtained some privileges in this visit, including an increase in water releases in the Tigris River, as well as economic agreements and high understanding."

He pointed out that "Iraq began today to use the economic and trade file with Turkey in order to obtain some gains, as the Turkish response now is the beginning of the end of this crisis,"

explaining that "the economic file affects the Turkish side and the development road project made it more flexible with the Iraqi demands."".

He stressed, "Also, according to the opinions of geologists, water storage in Turkey at current levels will put pressure on the earth's crust, especially since the Anatolian plate is exposed to tremors and crises, so the approval of releasing water comes with the requirements of Iraq and with the desire and Turkish economic interest."

Today, Wednesday, the Prime Minister concluded his official visit to Turkey, confirming the

agreement with Ankara to form Iraqi-Turkish committees to secure fair shares of water, and

also considering that the development path project is one of its most important fruits, describing it as a vital project for the whole world.

Yesterday, Tuesday, the Prime Minister confirmed that the development road project (the dry channel) between Iraq and Turkey will link the east with the west.

The Prime Minister said in a joint press conference with Turkish President Recep Tayyip Erdogan in Ankara, followed by the Iraqi News Agency (INA):

"The visit witnessed fruitful and constructive discussions and a responsible and serious conversation with President Erdogan, focused on strengthening relations between the two countries in all fields, especially the economic field and our situation."

The basis for strengthening cooperation with brothers and neighbors in this economic field in a way that is reflected in the overall political, social and security relations between countries.

And he stated, "The visit witnessed agreement on the development road project and the dry canal, which will be a global corridor for the transport of goods and energy, and this project was a focus of continuous discussion between Iraq and Turkey at various levels, and

there will be a railway that transports goods, in the first stage with a capacity of 3.5 million tons." In the second phase, we will reach 7.5 million tons.

He added, "The development road (the dry canal) will include land transport and power transmission lines, as well as the port of Faw, and the industrial city, which will be one of the largest cities in the Middle East, and the industrial components of the development road project (the dry canal) will generate enormous job opportunities for Iraq and other countries." The region, including opportunities for industries and businessmen, and a center of attraction for global trade.

The Prime Minister praised the response of the Turkish President in addressing the problem of water scarcity by directing him to increase the releases of the Tigris River.

https://www.ina.iq/181217--.html

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

https://www.bondladyscorner.com/

DINARRECAPS8 3/26/23 DINARRECAPS8 3/26/23

Iraqi News Highlights Sunday Afternoon 3-26-23

Tlm724 Administrator Bondlady’s Corner

The World Bank Confirms Its Full Commitment To Provide Support And Assistance To Automate Public Financial Management In Iraq

Economy| 05:22 - 03/26/2023 Baghdad - Mawazine News Today, Sunday, the World Bank affirmed its full commitment to providing support and assistance to automate public financial management in Iraq.The Media Department of the House of Representatives said in a statement, a copy of which Mawazine News received, that "the Finance Committee, headed by Representative Atwan Al-Atwani and in the presence of a number of its members, hosted a World Bank delegation to follow up on loans for projects funded by the bank within the Federal General Budget Law for the year 2023, and the mechanism Automation of the country's financial system.

Iraqi News Highlights Sunday Afternoon 3-26-23

Tlm724 Administrator Bondlady’s Corner

The World Bank Confirms Its Full Commitment To Provide Support And Assistance To Automate Public Financial Management In Iraq

And she added, "The committee welcomed at the outset of hosting the World Bank delegation in the Parliament building, appreciating the role of the World Bank in supporting the Iraqi government to finance the expenditure sections with the necessary loans to implement projects according to spending units, and joint cooperation between the two sides."

And she continued, "The Finance Committee discussed finding appropriate solutions to implement the projects that were signed with the World Bank and how to finance spending units, in addition to reviewing to expedite the implementation of projects throughout Iraq, as well as the need to maximize revenues by switching from the paper system to the electronic system." .

And she indicated that "the committee listened to a delegation from the World Bank regarding its visit to the Ministry of Finance related to financing projects for spending units and disbursing loans in this regard, as well as briefing it on the vision of the Ministry of Finance on completing the points agreed upon in accordance with the new vision of the ministry, as the delegation indicated that there is the appropriate ground to achieve implementation steps." projects, stressing his full commitment to provide support and assistance to automate public financial management in Iraq and achieve progress.

And she added, "The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system project (ifms), presenting a complete budget and preparing final accounts reports for the draft budget."

At the end of the meeting, the committee affirmed "its aspiration to shift from the paper system to the electronic system to make progress in modern financial transactions and to prepare an integrated project in this regard." https://www.mawazin.net/Details.aspx?jimare=222924

A Slight Rise In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange

Economy Sunday, March 26, 2023 4:21 PM Baghdad / The National News Center The exchange rates of the dollar rose against the Iraqi dinar, this evening, Sunday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, "The central Kifah Stock Exchange in Baghdad closed this evening at an exchange rate of 154,450 dinars against 100 dollars, while the prices this morning were 154,200 dinars."

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 155,500 dinars, while the purchase prices reached 153,500 dinars for every 100 dollars." https://nnciraq.com/196017/

Iraq's Oil Exports To America Have Declined By More Than Half

Sunday, March 26, 2023 8:52 am Follow-up / National News Center The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America decreased by more than half during the past week.

The administration said in a report seen by the National News Center: “The average US imports of crude oil during the past week from seven countries amounted to 5.423 million barrels per day, slightly down by 4 thousand barrels per day from the previous week, which amounted to 5.423 million barrels per day.”

She added, "Iraq's oil exports to America amounted to an average of 144 thousand barrels per day last week, down by 202 thousand barrels as a daily average from the previous week, in which oil exports to America reached an average of 346 thousand barrels per day."

She pointed out that "most of America's oil revenues during the past week came from Canada at an average of 3.240 million barrels per day, followed by Mexico at an average of 1.118 million barrels per day, and oil revenues from Saudi Arabia amounted to an average of 483 thousand barrels per day, and then Colombia at an average of 244 thousand barrels per day."

According to the administration, “the amount of US imports of crude oil from Nigeria amounted to an average of 129 thousand barrels per day, and from Brazil an average of 69 thousand barrels per day, while it did not import any amount from Russia, Libya or Ecuador.” https://nnciraq.com/195819/

Parliament Is Discussing With The World Bank The Financing Of Projects And The Shift Towards The Electronic System In Financial Transactions

Money and business Economy News / Baghdad On Sunday, the Finance Committee in the House of Representatives hosted a delegation from the World Bank, to follow up on loans for projects financed by the bank within the Federal Budget Law for the year 2023, and the mechanism for automating the financial system in the country.

The Finance Committee discussed ways to find appropriate solutions to implement the projects that were signed with the World Bank and how to finance the spending units, in addition to reviewing the implementation of projects in Iraq and accelerating their pace, as well as the need to maximize revenues by switching from the paper system to the electronic system. According to the information of the House of Representatives.

The committee listened to a delegation from the World Bank regarding its visit to the Ministry of Finance related to financing projects for spending units and disbursing loans in connection with them, as well as briefing them on the vision of the Ministry of Finance on completing the points agreed upon in accordance with the new vision of the ministry, as the delegation indicated that there is the appropriate ground to achieve the steps to implement projects, stressing Full commitment to provide support and assistance to automate public financial management in Iraq and achieve progress.

The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system project (ifms), presenting a complete budget and preparing final accounts reports for the draft budget.

At the end of the meeting, the Parliamentary Finance Committee confirmed its aspiration for "the shift from the paper system to the electronic system to make progress in modern financial transactions and to prepare an integrated project in this regard." https://economy-news.net/content.php?id=33133

Oil Reveals Iraq's Revenues Within A Month

Economy| 03:30 - 03/26/2023 Baghdad - Mawazine News The Ministry of Oil announced today, Sunday, that last month's revenues amounted to more than $7 billion.

The ministry said in a statement, a copy of which Mawazine News received, that "the final statistics of the total oil exports for the month of February, issued by the Iraqi Oil Marketing Company (SOMO), amounted to (92) million (255) thousand and (610) barrels, With revenues amounting to (7) billion and (62) million and (704) thousand dollars.

And she added, "The total quantities exported of crude oil for the month of February from the oil fields in central and southern Iraq amounted to (89) million (140) thousand and (448) barrels, while the quantities exported from Kirkuk oil through the port of Ceyhan were (2) million and (2) million." (834) thousand and (393) barrels,” explaining that “the average price of one barrel amounted to (76,556) dollars.”

It stated that "the exported quantities have been loaded by (35) international companies of several nationalities, from the ports of Basra, Khor Al-Zubayr, mono-buoys on the Gulf and the Turkish port of Ceyhan."

It is noteworthy that the Ministry of Oil, through its belief in informing the people of export operations and the revenues generated from them, took this monthly measure. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=222913

Trade Signs A Joint Cooperation Agreement With The World Food Program To Automate The Ration Card System

Economy| 03:40 - 03/26/2023 Baghdad - Mawazine News Today, Sunday, the Ministry of Commerce signed a joint cooperation agreement with the World Food Program to automate the ration card system.

The ministry said in a statement, a copy of which was received by Mawazine News, that "Minister of Commerce Atheer Daoud Al-Ghurairi signed, today, Sunday, a joint cooperation agreement for the electronic ration card system project with the Director of the World Food Program in Iraq of the United Nations, Ali Reda Qureshi."

The statement continued, "The joint cooperation agreement signed between the Ministry and the World Food Program provided for access to a comprehensive, renewable and digitally integrated distribution system, the aim of which is to automate all procedures and reach the real numbers of beneficiaries of the ration card system to achieve food security by targeting the eligible groups." ".

Al-Ghurairy confirmed, according to the statement, that "the partnership agreement achieved success, as the Ministry of Commerce worked with the World Food Program to implement the digital automation of the ration card system in the holy city of Najaf and the factory supply center in Sadr City as a first stage according to a timeline, while working on a plan to start applying it in the rest of the country."

The governorates, in implementation of the government program, because this strategic project represents the importance of the country's economy, with the aim of reaching the real numbers of beneficiaries.

He pointed out, "The joint cooperation with the Food Program contributed to providing logistical and technical support in the field of building the capacities of the Ministry of Commerce's employees, providing equipment and rehabilitating the infrastructure for the supply branches to start automating the ration card in Iraq."

And he indicated, "The two sides agreed during the signing of the partnership agreement that it will be a testament to the will and determination of both parties in their endeavor aimed at providing the best in correcting the project towards the deserving groups in Iraq," pointing out that "the signing of the agreement was attended by the Undersecretary for Administrative Affairs, Sattar Al-Jabri, and the Director General of the Planning and Follow-up Department, Ibtihal." Hashem Sabet, Director General of the Legal Department, Farah Hikmat, and the technical team from both sides. Ended 29 / m99

https://www.mawazin.net/Details.aspx?jimare=222916

The Minister Of Oil Is Discussing With The Region's Delegation The Decision Of The International Arbitration Tribunal

Economy| 03:48 - 03/26/2023 Baghdad - Mawazine News Oil Minister Hayan Abdul-Ghani chaired today, Sunday, a meeting with the delegation of the Kurdistan region, after the decision of the International Tribunal.

The Ministry of Oil said in a statement, which Mawazine News received, a copy of, that "Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani held a meeting with the region's delegation, which included the Minister of Natural Resources, Agency Kamal Muhammad, the head of the regional cabinet office, Omid Sabah, and the head of the government representative. The region in Baghdad, Fares Issa.

He added, "The new mechanisms and data for the region's exports were discussed after the decision issued by the Arbitral Tribunal of the International Chamber of Commerce in Paris last Thursday, March 23, 2023 in the arbitration case filed by Iraq against Turkey for its violation of the provisions of the Iraqi-Turkish pipeline agreement signed in 1973, which It states (the Turkish government must comply with the instructions of the Iraqi side regarding the movement of crude oil exported from Iraq to all storage and disposal centers and the final station).

The meeting was attended by the Undersecretary for Extraction Affairs, the Undersecretary for Distribution Affairs, the Director General of the Oil Marketing Company, the Director General of the Economic and Legal Department, the Director of the Government Information and Communication Office, and a number of officials in the relevant departments. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=222917

Guidance And Warning

March 26, 2023 The Central Bank of Iraq would like to inform the electronic payment companies /those who obtained the need to direct and warn all their agents /ports for cash withdrawal and directly not to use (POC) devices outside Iraq, and to take the necessary measures by them to obtain a written pledge within a maximum period of 20/5/1, and otherwise it will bear the company The violator’s agent /the violator is all legal consequences, and their companies must follow up, investigate and set the crisis policies in a manner that ensures that these devices are not operated outside Iraq. https://cbi.iq/news/view/2292

Pull Leave And Stop Activity

March 26, 2023 The Board of Directors of the Central Bank of Iraq decides to withdraw one bank leave and three exchange companies, and to stop the activity of a number of others due to violations.

https://cbi.iq/news/view/2291

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

https://www.bondladyscorner.com/