Dinar Recaps 20 4/18/23 Dinar Recaps 20 4/18/23

Goldilocks "Banking and Markets Updates" Tuesday 4-18-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted comments and links this morning.

The Big Banks are benefiting in the current market while Small Banks and Midsize Banks are consolidating.

The housing market continues to be an issue. The number of multifamily units have grown considerably during the pandemic.

And, the issue of raising the interest rates at the next FOMC meeting is still in debate

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted comments and links this morning.

The Big Banks are benefiting in the current market while Small Banks and Midsize Banks are consolidating.

The housing market continues to be an issue. The number of multifamily units have grown considerably during the pandemic.

And, the issue of raising the interest rates at the next FOMC meeting is still in debate

https://www.kitco.com/news/2023-04-18/Gold-prices-holding-steady-above-2-000-as-U-S-housing-construction-falls-0-8-in-March-down-17-2-for-the-year.html

"NSE India to Launch WTI Crude Oil, Natural Gas Futures"

India is expanding their stock market by adding WTI Crude Oil and Natural Gas futures on their Stock Exchange.

As with Iraq, this will expand the use of the Rupee creating demand on the International Stage.

This demand will raise the value of their currency and the currencies that trade with them.

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In the UK, we have other resets and reorganizations of the financial system taking place.

Central counterparty clearing houses (CCPs) play an important role in efficiently reallocating counterparty credit risks and liquidity risks in financial markets.

The Bank of England and the Commodities Futures Trading Commission are strengthening their ties through the cooperation on CCPs.

There is a clear level of supervision and connections taking place in banking systems around the world to turn our markets into a digital asset-based trading system.

The standardization of these Market changes will become solidified as a fixed weight of gold is measured in every transaction securing both sides of a trade.

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It is becoming increasingly clear that the future's markets around the world are being reset.

Bitcoin and Ethereum are offering expiry options with the support of the CME markets that wasn't currently in place until now.

These virtual assets support many of the stocks inside NASDAQ and S&P 500.

The Chicago Mercantile Exchange (CME) is an organized exchange for the trading of futures and options.

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Knox Wire Announces the Launch of Trustless Gold-Backed Currency | News Direct

"These trusts will be in centralized locations in North America, Europe and Asia. They ensure that no entity is solely reliant on Knox Wire, a potentially vulnerable financial system, or any single company, for redemption.

This trustless mechanism can provide users with peace of mind that their assets are always backed one to one, and always accessible."

If there were not already a lot of options available to us coming down the pike, here is another one. We are clearly inside a period of time that will someday be known as the "Creative Age".

The ability to live a no limit life is in progress.

The ability to move currency cross borders in milliseconds backed by a gold currency not reliant on traditional banking systems are in the making.

https://newsdirect.com/news/knox-wire-announces-the-launch-of-trustless-gold-backed-currency-186158714

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In case you have not noticed, the CFTC or the Commodities Futures Trading Commission is overseeing several sectors of the global markets at this point.

This is an indicator of a process currently taking place. It is a reorganization of a Global Financial System under the direction of an organization setting up standards and protocols for Market Systems.

Each day, we are moving closer and closer to a Gold Standard.

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

DINARRECAPS8 4/18/23 DINARRECAPS8 4/18/23

Tuesday Morning Iraq Economy News Highlights 4-18-23

The 2023 Budget Imposes Taxes In Various Sectors: The Citizen Is Unhappy About Paying, But He Demands Services And Development

April 17, 2023 Baghdad / Obelisk Al-Hadath: The 2023 budget came with a total of proposed expenditures amounting to 197.8 trillion dinars, and the price of a barrel of oil is about $ 70 per barrel, and a financial deficit of 63 trillion dinars (48.5 billion dollars), according to Prime Minister Muhammad al-Sudani, who indicated that this budget will be repeated In the next two years too.

Tuesday Morning Iraq Economy News Highlights 4-18-23

The 2023 Budget Imposes Taxes In Various Sectors: The Citizen Is Unhappy About Paying, But He Demands Services And Development

The tripartite budget includes in its details the imposition of new taxes at a rate of 5% on the proceeds of sales of one liter of gasoline. And 10% on gas or kerosene oil. And 15% on imported fuel. And a 1% rate on sales of black oil.

In addition, an airport tax in all Iraqi airports, at a lump sum of 25,000 dinars per person for travelers outside Iraq.

This comes at a time when the country relies on revenues from selling crude to cover about 95% of its expenditures, achieving in 2022 financial revenues of more than $115 billion from the export of crude oil, to be the highest in years, according to official figures announced by the Ministry of Oil.

Iraq imports oil derivatives, such as gasoline, gas oil and white oil. According to the Oil Marketing Company “SOMO”, last year witnessed the import of more than 5 million tons of oil derivatives, at a value of $5.3 billion. Gasoline was the most imported, at a value of $3.8 billion, followed by gas oil, at a value of more than $1.2 billion.

Representative Amer Abdul-Jabbar says that there is confusion in the general budget, waste of non-oil revenues, and the introduction of new taxes.

The writer, Abdul Karim Al-Essa, believes that the citizen does not want taxes on gasoline and other taxes that add burdens and difficulties and burden him, such as taxes on real estate and increased fees.

The journalist, Raad Hashem, said that the budget is loaded with taxes imposed on goods and services, which raised fears of its impact on the economic reality, especially with regard to taxes on oil derivatives at a rate of more than 30%, and airports with a lump sum.

Nabil Al-Marsoumi, a professor of economics at Al-Maqel University in Basra, says that these taxes will lead to an increase in non-oil revenues and raise their contribution to 13%, but they will be offset by a rise in the cost of transporting people and goods and a new rise in the prices of goods and services, whether locally produced or imported, which may It leads to exceeding the annual inflation rate specified in the budget by 5% and negatively affecting the standard of living of citizens.

The writer, Sami Al-Sudani, called for the need to enact and legislate the tax system by benefiting from advanced European experiences, which is the best way for justice, saving and organizing funds.

Al-Marsoumi estimates that these taxes will save about $400 million for the government, but he warns at the same time of their negative effects, which may lead to damage to the standard of living of vulnerable segments of society.

A member of the Finance Committee, Jamal Cougar, says that the Iraqi state, like any other country in the world, imposes taxes when its resources are reduced to support its budget, and here the citizen is the victim, not the government.

In turn, international economics professor Nawar Al-Saadi points out that there are what he describes as “distortions” in the tax system in Iraq, and he attributed this to its lack of reliance on advanced financial systems.

Taxes are important sources of income for governments, and these revenues are used to finance many government services and develop infrastructure in countries, such as roads, bridges, schools, hospitals, water, sanitation, and public transportation, all of which contribute to improving life and providing comfort and well-being for citizens. However, the Iraqi citizen is tired of paying taxes, but at the same time he wants to provide services and jobs, and in the event that citizens refuse to pay, this will hinder the wheel of development. https://almasalah.com/archives/49119

Parliamentarian: All Parties Are Determined To Approve The Budget Quickly

Money and business Economy News – Baghdad Doha Al-Qaiser, a member of the State of Law bloc, confirmed, on Monday, that there is a parliamentary determination to approve the financial budget "quickly."

In an interview with "Euphrates News" agency, which was followed by "Al-Iqtisad News", Al-Qaisar said, "There is a parliamentary determination from all parties to pass the budget law quickly."

And she continued, "Parliament left the second reading session of the law, open since the dawn hours, and will resume its work at 1 pm today to complete the rest of the paragraphs of the second reading of the budget after it was completed by the Finance Committee." https://economy-news.net/content.php?id=33626

Parliament invites to host ministers and the central bank on the budget

Posted On2023-04-18 By Sotaliraq Parliament called on Muhammad Al-Habousi to host the ministers and the Central Bank regarding the budget.

A statement by the Parliament Speaker’s Office stated that “the Speaker of the House of Representatives called for hosting ministers, officials and the Central Bank in coordination with the supporting committees and taking into consideration the parliamentarians’ observations on the budget.” LINK

A Report Reveals The Reasons For Total's Retreat From The Final Terms Of The "Giant Deal" In Iraq

2023.04.18 - Baghdad - people Sources reported some time ago that a $27 billion deal between Total Energy and the federal government in Iraq had stalled. It seems that it is on the way to resumption, although not in the form that the major French oil and gas company initially imagined, according to a report by the London-based Al-Arab newspaper.

Total Energy, the Italian Eni, and British Petroleum, according to the report, which was followed by "NAS" (April 18, 2023), played a major role in Europe's attempts to secure new energy supplies to compensate for its imports of Russian energy, which it has turned away from as part of its sanctions imposed on Moscow since the invasion of Ukraine in February 2022.

Total Energy remains fully aware of the risks inherent in doing business in the oil and gas sector in Iraq while continuing its pursuit of the European common good.

This awareness of the risks may be the reason for the retraction of the final terms of the giant deal, which has caused its delay since the initial agreement was signed in September 2021.

The main danger facing Western energy companies operating in Iraq lies in the scenario of falling into the trap of rampant corruption that is spreading in the oil and gas sectors in the country, which harms its reputation and the country it represents, in addition to the financial and legislative consequences.

And Iraq has always been among the worst 10 countries out of 180 countries in terms of the size and scope of corruption in the publications of the “Corruption Perceptions Index” that the independent organization Transparency International annually publishes.

The organization states that the factors that have led the country down international corruption rankings, sparked political violence and hampered effective state building and service delivery, include massive embezzlement, procurement fraud, money laundering, oil smuggling, widespread bribery and bureaucracy.

Its report concluded that political interference in anti-corruption bodies, politicization of its issues, weak civil society, insecurity, lack of resources and incomplete legal provisions undermine the government's ability to curb growing corruption.

It is noteworthy that it is these risks associated with Iraq's oil and gas sectors (which still account for more than 99 percent of the country's exports, 85 percent of the government budget, and 42 percent of GDP) that prompted major Western energy companies to leave the country during Last few years.

The trend included Shell's departure from the giant Majnoon oil field in 2017 and the giant West Qurna 1 oil field in 2018, and the American Exxon Mobil company's announcement that it also wants to get out of West Qurna 1 and its withdrawal from the joint seawater supply project that is part of the aforementioned giant deal for Total Energy. The reason for Iraq moving forward with the deal lies in the fact that China does not have the technical capabilities to implement everything it says.

And very shortly after Total announced this new huge investment in September 2021, Iraq also announced efforts to revive the Iraqi National Oil Company. The head of the Development Consulting and Research Company in Oslo, Ahmed Musa Jiyad, said in a statement in 2018 that Article 12 of the law related to the establishment of the Iraqi National Oil Company included a legal cover for corruption by allocating at least 10 percent of oil export revenues to three funds (“Citizens Fund” and “Generation Fund” and “Reconstruction Fund”).

He added that the authority of the INOC board of directors could be expanded even further, as revenues from oil and gas exports would be considered financial revenues for the INOC according to the 2018 version of the law (and the 2021 version related to the INOC).

Unfortunately for Iraq, it soon became clear that one could not become a leading figure in France's leading oil and gas company by being altogether naïve in expecting the idea of reviving the Iraqi National Oil Company to be a good idea. Total Energy quickly refused to enter into a partnership with the Iraqi National Oil Corporation, due to the lack of clarity in the legal status of the company, which it did not trust. Then, in October 2022, Iraq's Federal Supreme Court annulled the decision to revive the Iraqi National Oil Company on the grounds that several of its founding clauses were in violation of the constitution.

It appears that the thrust between Total Energy and the Oil Ministry has since been aimed, at least on the French side, at preserving the legitimacy of every clause regulating bilateral dealings as would be expected of such a Western company.

The experiences of Western energy companies in Iraq have highlighted that there are two keys to exiting the risk/reward matrix in the Iraqi oil sector with a sound reputation. The first lies in determining the meaning of every word in every sentence in every contract with the best legal mechanisms available in the West, and this is what Total Energy did.

The second lies in reducing risks in projects belonging to any entity linked to the Government of Iraq, albeit indirectly. This may be the reason for Total Energy's decision to proceed with the huge deal when the Iraqi government dropped its demand to increase its stake in the project from the agreed 25 percent to 40.

The current agreement stipulates that the Iraqi government, through the Basra Oil Company, will own a 30 percent stake in the giant deal. Total Energy will own 45 percent of it, while Qatar Energy will own the remaining 25 percent. There is evidence of Qatar's development to become more suitable for Western energy requirements.

If the deal goes through as planned, it could be a game-changer for Iraq. Its projects include the completion of a joint seawater supply project that is crucial to enabling the country to reach its long-term crude oil production goals of 7 million barrels per day, then 9 million, then 12 million.

The project involves taking sea water from the Gulf, treating it and then transporting it through pipelines to oil production facilities to maintain pressure in reservoirs and improve the longevity of the fields and their production cycle.

The long-delayed plan for the Social Security Support Program is to provide about 6 million barrels of water initially to at least five fields in southern Basra and one in Maysan province, and then expand its use to other fields.

The second project is also urgent. It lies in the collection and refining of associated natural gas, which is currently burning in five oil fields in southern Iraq, namely West Qurna 2, Majnoon, Tuba, Luhais and Artawi. Initial Iraqi Oil Ministry comments last year highlighted that the plant involved in this process is expected to produce 300 million cubic feet of gas per day and then double that after a second phase of development. And Iraqi Oil Minister Ihsan Abdul-Jabbar said last year that the gas produced from the second Total Energy project in the south will help Iraq cut off its gas imports from Iran.

Successful capture of associated gas rather than burning it would also allow Iraq to revive the long-stalled $11 billion petrochemicals project with Nebras Power, which could be completed within five years and bring the country an estimated profit of up to $100 billion during the initial contract period. She is 35 years old.

Total Energy already has experience operating throughout Iraq, owning 22.5 percent of the Halfaya oil field in Missan province in the south and an 18 percent stake in the onshore Sarsang oil field in the Kurdistan region of Iraq. This gives it specific operational experience in Iraq that will enable it to increase crude oil production from the Artawi oil field, the third of the four projects it is committed to.

According to previous statements from the Iraqi Oil Ministry, Total Energy will help increase production from the Artawi oil field to 210,000 barrels per day of crude oil, which will be an increase from the current 85,000 barrels per day. The last of the four projects to be implemented by the French company will be the construction and operation of a solar power plant with a capacity of 1,000 megawatts in Iraq.

https://www.nasnews.com/view.php?cat=105838

An Economic Advisor To Nina: The Country's Interest In The Three-Year Budget Lies In Reducing Expenditures And Avoiding Borrowing.

Tuesday 18, April 2023 11:26 | Economical Number of readings: 295 Baghdad / NINA / - The consultant in industrial development and investment, Amer Al-Jawahiry, confirmed: The country's interest in the three-year budget lies in reducing expenditures and avoiding borrowing.

He told the National Iraqi News Agency / NINA /: The approval of the budget will be as soon as possible and its decision will be according to the directions of the political blocs.

Al-Jawahiry added: The supreme interest lies in keeping costs down and avoiding borrowing, because borrowing will cover operating expenses that are not really productive.

He explained: The most important thing in the budget is how do we invest the money to bring in revenues outside of oil?He stressed the importance of investing in major projects to achieve future revenues.

And the House of Representatives had adjourned its session after it finished yesterday evening the second reading of the state's general budget.

https://ninanews-com.translate.goog/Website/News/Details?Key=1047963&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Dinar Recaps 20 4/18/23 Dinar Recaps 20 4/18/23

"Tidbits From TNT" Tuesday Morning 4-18-2023

TNT:

CandyKisses: Kurdistan Regional Government announces Eid al-Fitr holiday

Shafaq News / The Kurdistan Regional Government of Iraq announced, on Tuesday, the suspension of official working hours in government departments and institutions from April 20 until the 24th of the same month on the occasion of Eid al-Fitr.

"On the occasion of Eid al-Fitr, official working hours will be suspended from Thursday, April 20 until Monday, 24 of the same month," the Department of Information and Information said in a statement to Shafaq News. PlayUnmute

He added that "official working hours will resume in all government departments and institutions on Tuesday, April 25."

TNT:

CandyKisses: Kurdistan Regional Government announces Eid al-Fitr holiday

He added that "official working hours will resume in all government departments and institutions on Tuesday, April 25."

Tishwash: Parliament directs its committees to host ministers and officials for this reason

The Presidency of the House of Representatives informed all parliamentary committees to host ministers, officials and members of the Central Bank Board of Directors, in coordination with the supporting parliamentary and governmental committees, and taking into account the observations of representatives on the general budget. link

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Tishwash: The House of Representatives ends the budget discussion and hosts the ministers and the central governor {expanded}

The House of Representatives ended, on Monday evening, its twentieth session, headed by Mr. Muhammad Al-Halbousi, Speaker of the House of Representatives, discussing the draft federal budget law for the fiscal years 2023-2024-2025.

The interventions of the deputies during the session, which was presided over by the First Deputy Speaker of the Parliament, Mohsen Al-Mandalawi, regarding the draft law, included fixing the contracts of harbingers of peace for the permanent staff, and the inclusion of graduates of medical and health departments in the Kurdistan region in appointments, just like their peers in the rest of the provinces, in addition to giving importance to centers Treating cancerous diseases by increasing the financial allocations in the federal budget, and compensating the farmers of the governorates of Maysan and Najaf who were affected by floods and torrential rains in previous seasons, in addition to demanding increased financial allocations for the liberated governorates and paying attention to the youth in those areas, and finding appropriate solutions to the housing crisis.

The members of the Council also focused on the need to pay attention to the areas that were subjected to genocide during the rule of the former regime, by allocating sums of money to advance their reality, increasing financial allocations for the institutions of prisoners and martyrs to cover their needs, and increasing allocations for those affected by terrorist operations, as well as calling for a review of the issue of increasing taxes. On fuel, and an emphasis on the rehabilitation of the Baiji refinery.

The members of the Council stressed the need to support the farmers and peasants, and to address the situation of the remaining sons of the Awakening Movement who have not been transferred to permanent staffing, and to provide the necessary allocations for the return of the displaced and end their suffering, and to increase financial allocations for the development of the regions, and to transfer holders of diplomas in the Ministries of Defense and Interior to civilian staffing, and reinstatement Considering the financial allocations for the Sunni and Shiite endowments and equating them, as well as increasing the allocations of the Ministry of Higher Education and Scientific Research.

For his part, the Speaker of the House of Representatives praised the efforts of the Finance Committee in preparing the report on the draft budget law, calling for hosting ministers, officials and the Central Bank, in coordination with the supporting committees and taking into account the observations of the representatives.

On the other hand, Parliament Speaker Muhammad al-Halbousi directed to host the Minister of Interior after the blessed Eid al-Fitr holiday and to ask a verbal question about the ministry's procedures regarding insulting the House of Representatives.

After that, it was decided to adjourn the session without setting a date for it. link

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Tishwash : Iraq wants to become a pole in the global gas market

Prime Minister Muhammad Shia' al-Sudani discussed, during his meeting with the Parliamentary Committee on Oil, Gas and Natural Resources, the government's plans to develop the oil industry.

Al-Sudani's media office said in a statement, "The Prime Minister received the chairman and members of the Oil, Gas and Natural Resources Committee in the House of Representatives, as part of a series of meetings he holds with parliamentary committees in various sectors, with the aim of coordinating between the executive and legislative authorities, which contributes to the success of the work." government towards achieving the objectives of its government program and implementing its priorities.

He added, "The meeting witnessed an emphasis on developing the oil industry and regulating the export process, especially after the temporary agreement with the Kurdistan Regional Government of Iraq regarding the export of oil from the northern fields, which is considered a ground for approving the federal oil and gas law."

During the meeting, Al-Sudani referred to "the government's interest in the energy file, and its plans to develop the oil industry, which have witnessed implementation on the ground through the investment of associated gas and the endeavor to enter Iraq into the global gas markets, as well as investment in the petrochemical industry, which will play an influential role in the future of the country's economy." As well as developing the oil extraction and production sectors,

stressing "the continuous work to find promising investment opportunities in the oil sector, in a way that contributes to the development of revenues and the realization of the interests of the country." link

Mot: .... aaaaahhhhhh - Asking fer a Friend!! ~~~

Mot: ........ OK!!! --- Will Let Ya know How This Goes!! ~~~~

Dinar Recaps 20 4/17/23 Dinar Recaps 20 4/17/23

Goldilocks "We Are Getting Even Closer" Monday Night 4-17-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good evening Dinar Recaps,

Goldilocks post comments and a link:

Iraq is expanding their ISX market to include oil, gold, and foreign companies.

This will expand the reach of the Iraqi Dinar and create more demand for their currency.

It is a move that will increase the value of their National Currency, of which, they are currently exclusively utilizing at this time.

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good evening Dinar Recaps,

Goldilocks post comments and a link:

Iraq is expanding their ISX market to include oil, gold, and foreign companies.

This will expand the reach of the Iraqi Dinar and create more demand for their currency.

It is a move that will increase the value of their National Currency, of which, they are currently exclusively utilizing at this time.

They will need to move from a programmed rate to a competitive rate to succeed on a market expansion such as this we are witnessing.

We are getting even closer my friends.

https://search4dinar.wordpress.com/2023/04/17/a-proposal-to-list-oil-gold-and-foreign-companies-in-the-iraqi-stock-exchange/

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https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

DINARRECAPS8 4/17/23 DINARRECAPS8 4/17/23

Iraqi News Highlights Monday Evening 4-17-23

Tlm724 Administrator Bondlady’s Corner

The Governor Of The Central Bank Discusses With The Regional Representative Of The World Bank And His Executive Team The Reality Of The Iraqi Banking Sector

Monday 17, April 2023 10:04 | Economical Number of readings: 406 Baghdad / NINA / - The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed today, Monday, with the regional representative of the World Bank and his executive team, the reality of the Iraqi banking sector.

Iraqi News Highlights Monday Evening 4-17-23

Tlm724 Administrator Bondlady’s Corner

The Governor Of The Central Bank Discusses With The Regional Representative Of The World Bank And His Executive Team The Reality Of The Iraqi Banking Sector

The media office of the bank stated, in a statement, that "the governor of the Central Bank of Iraq met with the regional representative of the World Bank, Farid al-Hajj, and his executive team, as part of a series of meetings of the World Bank and the International Monetary Fund in Washington," and discussed with him the reality of the Iraqi banking sector and enhancing the concept of financial inclusion in the country through programs. Especially with international institutions,

and he explained that the two sides discussed the recent measures taken by the Governor of the Central Bank of Iraq in combating money laundering and financing terrorism, as well as accelerating banking reforms for government banks, and government support for reform in this vital sector.

The governor stressed, according to the statement: "Continuing to support the green economy and renewable energy through the clean energy initiative, which is represented by lending citizens to purchase solar energy systems and cooperation with government agencies to ensure the quality of the systems," calling for "technical support and benefiting from the expertise of the World Bank in expanding the initiative of the Central Bank." In lending to small projects in light of the successful experiences of other countries.

He revealed "the creation of the International Organizations and External Relations Department, which is linked to the Governor of the Central Bank to organize, strengthen and follow up on relations, programs and memorandums of understanding with organizations and external parties."

For his part, the regional representative of the World Bank expressed his cooperation in building the functional and technical capabilities of the Central Bank employees in the field of banking supervision and the supervision of electronic payment companies and non-bank financial institutions.

https://ninanews.com/Website/News/Details?key=1047707

The Ministry Of Planning Continues To Discuss The Effects Of Changing The Exchange Rate In The Iraqi Market

Monday 17, April 2023 18:36 | Economical Number of readings: 192 Baghdad / NINA / - Today, Monday, the Ministry of Planning confirmed its contact with the concerned authorities to discuss the effects of changing the exchange rate in the Iraqi market.

A statement by the ministry said: “The Ministry of Planning continues to study and discuss the effects of changing the exchange rate in the Iraqi market, in cooperation with the Central Bank of Iraq and representatives of the private sector, in implementation of the directives of Prime Minister Muhammad Shia’ al-Sudani, with the aim of developing possible treatments to reduce the effects resulting from changing the exchange rate.” .

The statement added, “In this context, the second deliberative meeting of the team in charge of preparing the study was held at the Ministry of Planning, headed by the Undersecretary for Technical Affairs, Maher Hammad Johan. Views of representatives of the private sector in this regard.

According to the statement, the meeting discussed a number of proposals and recommendations aimed at addressing the repercussions of changing exchange rates on the economic and commercial movement, as the ministry will present its recommendations in this regard to the Council of Ministers. The meeting was attended, according to the statement, by the Deputy Governor of the Central Bank of Iraq, Ammar Al-Ithawi, and the Director General of the Department

. The economic and financial policies in the ministry, Sabah Jundi Mansour, representatives of the Federation of Chambers of Commerce, the Federation of Iraqi Industries, and the Association of Private Banks, are representatives of the private sector. https://ninanews.com/Website/News/Details?key=1047834

Al-Alaq To The Representative Of The World Bank: We Continue To Support The Green Economy And Renewable Energy

Economy| 09:58 - 04/17/2023 Baghdad - Mawazine News, Governor of the Central Bank of Iraq Ali Mohsen Al-Alaq, accompanied by the Iraqi delegation, met with the regional representative of the World Bank, Farid Belhaj, and his executive team, as part of a series of meetings of the World Bank and the International Monetary Fund in Washington.

The meeting discussed "the reality of the Iraqi banking sector and enhancing the concept of financial inclusion in the country through special programs with international institutions." The two parties also discussed "the recent measures taken by the Governor of the Central Bank of Iraq in combating money laundering and financing terrorism, as well as accelerating banking reforms for government banks." and government support for reform in this vital sector.

Al-Alaq revealed "the creation of the Department of International Organizations and External Relations, which is linked to the Governor of the Central Bank to organize, strengthen and follow up relations, programs and memorandums of understanding with organizations and external parties."

In addition, the regional representative of the World Bank expressed his "cooperation to build the functional and technical capacities of the Central Bank's employees in the field of banking supervision and the supervision of electronic payment companies and non-bank financial institutions." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=224794

Al-Sudani: The Government Program Relies On The Role And Support Of The Private Sector To Achieve Sustainable Development

Political | 02:15 - 04/17/2023 Baghdad - Mawazine News, Prime Minister Muhammad Shia'a Al-Sudani received, on Monday, the Japanese ambassador to Iraq, Futoshi Matsumoto, accompanied by Yutake Izaki, the managing director of "Toyota" in Iraq, and the head of the "Sumitomo" company in the Middle East, Hajime Mori.

According to a statement by Al-Sudani's office, which Mawazine News received, "during the meeting, they reviewed the bilateral relations between the two countries, and ways to enhance them at all economic and development levels."

Al-Sudani stressed, "The government's interest in the distinguished relations between Iraq and Japan, and the tendency to benefit from the experiences and practices of Japanese companies in the field of developing infrastructure in Iraq, and expanding and developing services provided to citizens."

He expressed "Iraq's aspiration to enhance the training and qualification experience for the Iraqi sectors, in cooperation with Japanese institutions and companies in order to gain experience and open investment opportunities for them."

He explained, "The government program relies on the role and support of the private sector in order to achieve sustainable development and create job opportunities, and that partnership with Japanese entities will be a positive pillar in achieving these aspirations."

For his part, the Japanese ambassador affirmed "the desire of his country, and the major industrial and economic institutions in it, to enhance joint cooperation and expand exchange with Iraq in various fields." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=224815

The Government's Financial Advisor To / NINA /: The Compliance Platform Behind The Decline In The Dollar Exchange Rate

Monday 17, April 2023 11:48 | Economical Number of readings: 499 Baghdad / NINA / - Today, Monday, the government's financial adviser, Mazhar Muhammad Salih, attributed the recent decline in the exchange rate of the US dollar against the dinar to the application of the "compliance platform" and "strict bank procedures" on Iraqi banks.

Muhammad Salih said, in a statement to the National Iraqi News Agency ( NINA ), that "the monetary policy of the Central Bank of Iraq has achieved great success in applying the compliance platform with regard to foreign currency transfers, transparency and high governance of banks, all of which led to a decline in the dollar."

And he pointed out, “The central bank’s window sales reached the high stable allowance and stability in the dollar,” noting that “the convergence between the official exchange rate and the parallel market rate is a positive reflection of the national currency, and the coming days will witness a greater acceleration in its decline.”

Muhammad Saleh continued, "The bank's recent procedures are not easy to implement, and today the structuring of external transfers has taken the status of compliance and achieved widespread and great success, and the market has adapted to compliance requirements, and we are witnessing today that the parallel exchange market is rapidly approaching the official price."

In the past few days, the exchange rate of the US dollar witnessed a gradual decline, reaching 145 thousand dinars per hundred dollars, after it was 168 thousand dinars per hundred dollars./ End 8

https://ninanews.com/Website/News/Details?Key=1047729

The Stability Of The Dollar Exchange Rate In The Local Markets

Monday 17, April 2023 11:08 | Economical Number of readings: 491 Baghdad / NINA / - The exchange rates of the dollar stabilized today, Monday, in the local markets.

The selling price of the dollar was recorded at 145,000 dinars per 100 dollars, while the buying price of the dollar was recorded at 144,000 dinars per 100 dollars./ End 8

https://ninanews.com/Website/News/Details?key=1047732

A Slight Rise In Oil Prices In The Global Markets

Economy| 09:20 - 04/17/2023 Follow-up - Mawazine News Oil prices rose slightly on Monday, supported by OPEC + plans to cut more production, while investors await Chinese economic data in search of indications of a recovery in demand by the largest oil consumer in the world.

Brent crude futures rose 6 cents to $86.37 a barrel by 0350 GMT.

US West Texas Intermediate crude recorded $82.56 a barrel, up 4 cents.

Both contracts posted their fourth weekly gains last week - the longest streak since mid-2022 after the International Energy Agency (IEA) forecast record 2023 demand of 101.9 million bpd, up 2 million bpd from last year. https://www.mawazin.net/Details.aspx?jimare=224789

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

https://www.bondladyscorner.com/

DINARRECAPS8 4/17/23 DINARRECAPS8 4/17/23

Iraqi News Highlights Monday Afternoon 4-17-23

Tlm724 Administrator Bondlady’s Corner

Specialists: Financial Discipline Is A Guarantee Of Achieving Surpluses And Increasing Growth

Economical 2023/04/15 Baghdad: The Emad of the Emirate A number of economists urged the need to follow sound frameworks that can limit economic downturns and unexpected shocks that the general budget may be exposed to, especially with regard to calculating the price of a barrel of oil and the planned deficit, stressing the possibility of achieving these factors through what they described as "Fiscal discipline" that can distance the budget from economic crises and lead to achieving a number of positive factors, including enhancing economic growth, curbing the fiscal deficit and achieving a budget surplus.

Last week, the House of Representatives completed the first reading of the draft federal budget law for the fiscal years (2025, 2024, 2023) submitted by the Finance, Strategic Planning and Federal Service Committees, at a time during which the Presidency of Parliament continues to hold its meetings with the Parliamentary Finance Committee to ripen the law and expedite its presentation for the second reading.,

Where the Deputy Speaker of Parliament, Mohsen Al-Mandalawi, discussed with the Finance Committee "the items of the budget, and provided observations regarding a number of its paragraphs and the importance of making the necessary transfers, in a way that contributes to increasing the allocations for the development of regions, reducing the deficit rate, and implementing service and strategic projects, especially those that are lagging behind."

Dr. Imad Al-Ani, a specialist in economic affairs, believes that

“the financial discipline that can be followed during the implementation of the budget items leads to creating the necessary foundations for creating a stable and predictable economic environment that is far from the risks of global fluctuations.”

It leads to an exacerbation of the deficit, and thus resorting to borrowing, which is reflected in additional costs on the economy that exceed its ability to produce the required surplus and sufficient to face the increasing pace of debt and its servicing. Al-Ani added, hence, "the

need for financial discipline to curb unstudied bias in the behavior of fiscal policy that leaves costs on the economy, indicating that the

ability and competence of the financial authorities depends on financial discipline as a measure of them and

through it lies the ability to maintain the smooth implementation of financial operations that guarantees Long-term financial safety and prosperity.

Dr. Ikram Abdel Aziz, a member of the administrative body of the Iraqi Economists Association, did not stray far from the previous opinion, as she stated that

“economic stability is the necessary condition for growth, which can be achieved through financial discipline as an incubator for stability, growth, and poverty reduction,” noting the

importance of “designing fiscal policy as part of Among the broader economic reforms and their impact on the behavior of the factors affecting the future, in line with the requirements of transparency and public supervision.

For his part, the specialist in economic affairs, Dr. Muhammad Shehab, explained that the importance of financial discipline lies in promoting long-term growth, as curbing the deficit and achieving a budget surplus is a form of saving, and with its increase, owned assets increase and future income increases. https://alsabaah.iq/75265-.html

Taif Sami From Washington: Our Discussions Focused On Enhancing The Capabilities Of The Banking Sector

Economical 2023/04/16 Baghdad: morning The Iraqi delegation in Washington is holding continuous meetings with a number of international financial and monetary institutions, on the sidelines of the spring meetings of the International Monetary Fund and the World Bank, held from 10 to 16 April.

Finance Minister Taif Sami revealed that discussions have been held on

strengthening the capabilities of the banking sector,

applying automation,

supporting small projects, and

advancing the reality of the private sector.

According to a statement issued by the Ministry of Finance, which "Al-Sabah" received a copy of,

"Minister Taif Sami held a meeting with the

Executive Director of the World Bank, Mansour Al-Shamali, in the presence of the

Governor of the Central Bank, Ali Al-Alaq, and his accompanying delegation.

The meeting witnessed trading in the economic and financial visions that the Iraqi government is working on.

Achieving them in accordance with the priorities of

sustainable development,

projects,

water,

climate,

environment,

transportation and

social protection.

Sami said, according to the statement,

"they discussed

strengthening the capabilities of the banking sector,

applying automation,

supporting small projects,

advancing the reality of the private sector, and

establishing development funds," while

stressing the Iraqi government's continuation of its national and economic reform efforts.

She stated that "the fund's representatives expressed the provision of all forms of support necessary for the success of the tasks of the government program in terms of

capacity-building,

training of working cadres, and

technical contributions in a manner appropriate to the establishment of productive sectors that contribute to raising the rates of gross domestic product." https://alsabaah.iq/75353-.html

Transport Reveals New Information Through Development: High-Speed Trains And European Operating Systems

Reconstruction and building Economy News-Baghdad The Ministry of Transport is studying the preparation of designs for the development road, after obtaining the necessary approvals to determine the proposed routes for the road, with its two parts, the

highway, and the railway line for transporting passengers and goods,

from the large port of Faw to the Turkish border, with a length of 1175 km.

And the Ministry of Transport stated in a statement that "the Minister of Transport obtained preliminary approvals to determine the tracks of the project, which tops the ministry's work priorities, as it is one of the strategic projects adopted by the ministerial program."

He explained, "The railway line starts from the large port of Faw towards the northern regions, with a capacity in the first phase of 3.5 million containers, and 22 million tons of (random) bulk cargo," stressing that "the load will be raised in the second phase to 7.5 million containers." And 33 million tons of cargo.

The statement indicated that "surveillance cameras will be along the road line, in addition to the presence of rest areas for passengers, and others for loading and unloading." He added, "The railway line will be one for transporting passengers and another for goods," noting that "a high-speed train with a speed of 300 kilometers per hour will be allocated to transport passengers, with a capacity of 13.8 million passengers annually."

The statement added, "The second railway line will be dedicated to goods, at a speed ranging from 130 to 140 kilometers per hour, and will run on electricity," explaining that this line "will pass through about nine governorates." The statement pointed out that "the transportation system that will be used in the project is the European system, with the aim of continuity of the global train movement without stopping, taking into account the issue of millions of visits."

The statement concluded that "the highway will be (To Wei) with a length of 1190 km, starting from the port of Faw and passing through the desert areas, because it is designated for trucks, and there is no need for it to enter the cities." https://economy-news.net/content.php?id=33612

Central: Directed To Provide Services In Currencies Such As «Yuan Or Euro»

Economical 2023/04/16 Baghdad: morning The Deputy Governor of the Central Bank of Iraq, Faisal Al-Haimus, stated that the bank has a tendency to expand the network of correspondent banks to provide services in different currencies, indicating that

there is a desire by solid international banks to enter the Iraqi banking sector and work inside the country.

Al-Haimus said that the Central Bank is striving to bridge the gap between the official and parallel rate, and

our supervision continues over all banks, by

increasing confidence in the local market and

cooperating with international institutions. And he added,

“We noticed a reluctance to enter the electronic platform launched by the Central Bank of Iraq by merchants, and

there were delays due to the recent experience by banks dealing with the bank, and we noticed that

some banks do not carry out the transfer for a long time and arrive at the bank late, and

we check it and ensure the safety of the parties.” Dealing with the window,

we implement it in a record period, and

then release the money.

Al-Haimus also noted that the number of employees of the electronic platform is sufficient in the current situation, and

the number will be increased and the

work will be shifted to morning and evening shifts in the event of an increase in the demand for remittances in the platform.

He pointed out that due to inquiries about money laundering and other issues related to the auditing authority, the period for releasing the electronic platform’s funds to the beneficiary who owns the transfer is prolonged, stressing that the

US Federal Reserve does not work on auditing, but rather the

Central Bank of Iraq is responsible for that through the auditing company contracting with us.

He went on to say that there is a

development in the Iraqi banking sector to achieve the objectives of the feasibility studies and the

expansion of the network of correspondent banks to provide service in different currencies such as the yuan or the euro.

There is also an agreement with banking institutions regarding yuan transfers.

After a short pause, there is also a desire from solid international banks to enter the Iraqi banking sector and work inside the country.

Al-Haimus denied that there is a directive from the bank to limit the withdrawal ($250) per day, saying:

It is the prerogative of the bank issuing the card or the owner of the ATM, and

there is no cash limit if the purchase is through electronic payment devices (POS).

The Iraqi banking official indicated that there is a

great tendency to deal with cards and electronic payment devices (POS), and there is a

big plan to increase the confidence of the beneficiary of these services, and

we confirm the presence of great support from the Iraqi Council of Ministers in many executive decisions, as well as the support by Parliament in this aspect.

He stressed that the Central Bank of Iraq is working to stop networks that issue cards

with forged documents or

to deceased persons, and

use these cards to smuggle currency out of Iraq, which affects the Iraqi economy. https://alsabaah.iq/75354-.html

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

https://www.bondladyscorner.com/

Dinar Recaps 20 4/17/23 Dinar Recaps 20 4/17/23

Goldilocks "We Are At The End Game" Monday 4-17-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good morning Dinar Recaps,

Goldilocks posted commentaries with links:

It's been a while since I shared this with you, but the time has come for me to do it again.

We are at the End Game.

Watch the dollar and gold rise together. The reason for this is the demand on the dollar as a safe haven due to rising interest rates and the demand for gold by the Central Banks.

Usually, one is up and the other is down to support one another in normal market conditions. We are not in normal market conditions anymore. We are in transition.

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good morning Dinar Recaps,

Goldilocks posted commentaries with links:

It's been a while since I shared this with you, but the time has come for me to do it again.

We are at the End Game.

Watch the dollar and gold rise together. The reason for this is the demand on the dollar as a safe haven due to rising interest rates and the demand for gold by the Central Banks.

Usually, one is up and the other is down to support one another in normal market conditions. We are not in normal market conditions anymore. We are in transition.

Both are needed at this time, but one will gain more traction than the other to deflate an inflated economy.

We could see this shift by the end of the week going into the next.

This is the purpose of gold as money, and it will provide the bridge into our new digital asset-based trading economy.

The dollar will find its place in this new economy among other currencies finding their real values as well.

© Goldilocks

https://news.bitcoin.com/de-dollarization-trend-irreversible-flight-from-us-dollar-sure-to-accelerate-says-russian-official/

https://www.marketwatch.com/story/goodbye-eurodollar-futures-heres-why-the-once-dominant-derivatives-contract-is-going-away-adc113a2?siteid=msnheadlines

~~~~~~~~~~

Congress is beginning to shift its attention from enforcement to a regulating body regarding stablecoins.

Stablecoins are virtual assets that represent a country's currencies.

The current requirements have to deal with holding its value. Conversations around collateralizing this sector of the cryptocurrency market are in progress.

Look for stablecoins to have a backing of gold or other commodities to hold its value in place during stressful periods of time.

Again, the next stop... Paper Currencies. Currency Reforms are clearly front and center.

~~~~~~~~~~

"CFTC Claims Crypto Assets Are Commodities in Lawsuit Against Ex-Deutsche Bank Investment Banker."

Yes, the QFS is backed by real assets having real values. In terms of gold as money, gold is rapidly becoming a world reserve asset by which asset determinations will be measured by the weight of value fixed on every asset in the world.

In other words, we are clearly moving into a Gold Standard.

© Goldilocks

https://cryptopotato.com/cftc-claims-crypto-assets-are-commodities-in-lawsuit-against-ex-deutsche-bank-investment-banker/

https://www.cftc.gov/PressRoom/PressReleases/8686-23

~~~~~~~~~~

"FOREIGN CURRENCY FOR IRAN"

In an interview with IRNA, Shakouri stated that the national copper industry would require not mere development but also support in order to generate $10 billion that could serve as foreign currency for Iran.

By applying new innovative methods, he added that taking advantage of the available copper mineral will increase four times by the year 2050 - highlighting that copper mines can serve as huge investments for the country and thus need to be taken more seriously.

As Iran is known for mineral-rich land, just a month ago, the first lithium deposit was discovered by Iranian geologists in the northwestern province of Hamadan, and the reserves are assessed at 8.5 million tonnes, a senior Industry Ministry official said.

"Iran is one of the few countries where adequate reserves of rare earth elements and precious metals are available.

The discovery of the first lithium deposit in the province of Hamadan promises the discovery of a deposit of other precious metals in this province," the Fars news agency quoted the official as saying, adding that its reserves are estimated at 8.5 million tonnes.

https://english.almayadeen.net/news/economics/iran:-export-of-10b-worth-of-copper-feasible

~~~~~~~~~~

Russia’s Ruble Could Replace US Dollar in Global Transactions: World Bank

In case of accurate implementation of the financial policies, Russia’s Ruble could replace US dollar, the executive director of the World Bank emphasized.

https://www.tasnimnews.com/en/news/2023/04/17/2881446/russia-s-ruble-could-replace-us-dollar-in-global-transactions-world-bank

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

DINARRECAPS8 4/17/23 DINARRECAPS8 4/17/23

Monday Morning Iraq Economic News Highlights 4-17-23

Al-Maliki Warns Against Approving The General Amnesty And Budget Laws In One Basket: It Is Still Controversial

2023-04-17 06:55 Shafaq News/ Member of the Parliamentary Legal Committee, Raed Al-Maliki warned, on Monday, of approving the general amnesty law and the federal budget in one basket.

Al-Maliki told Shafaq News agency, "The general amnesty law is controversial and disputed over its articles and the categories it will include, and it will not be discussed in the current legislative term because the parliament is busy discussing and approving the budget law, unless there is a political requirement to approve the amnesty and budget law in one basket."

Monday Morning Iraq Economic News Highlights 4-17-23

Al-Maliki Warns Against Approving The General Amnesty And Budget Laws In One Basket: It Is Still Controversial

2023-04-17 06:55 Shafaq News/ Member of the Parliamentary Legal Committee, Raed Al-Maliki warned, on Monday, of approving the general amnesty law and the federal budget in one basket.

He added, "The Parliamentary Legal Committee will deal with the general amnesty law officially, and we warn against approving the law with the budget in one basket."

The general amnesty law is one of the most prominent demands of the Sunni blocs that stipulated its approval during the negotiations to form the state administration, which included the Shiite coordination framework and the Kurdish and Sunni blocs, which resulted in the formation of the new government headed by Muhammad Shia al-Sudani.

Despite the passage of about six months since the government's life, the general amnesty is still a matter of controversy between the Sunni and Shiite blocs, and no agreement has been reached on the categories covered by it until now.

Yesterday evening, Sunday, the parliament’s agenda included the second reading of the federal budget law, after the parliament finished, in early April, the first reading of the draft federal budget law for the Republic of Iraq for the fiscal years (2023, 2024, 2025). LINK

Iraq And The World Bank Are Discussing Anti-Money Laundering Measures And Accelerating Banking Reforms

Money and business Economy News – Baghdad The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met with the Iraqi delegation, the regional representative of the World Bank, Farid Belhaj, and his executive team, as part of a series of meetings of the World Bank and the International Monetary Fund in Washington.

The meeting dealt with, "discussing the reality of the Iraqi banking sector and enhancing the concept of financial inclusion in the country through special programs with international institutions, and the two parties also discussed the recent measures taken by the Governor of the Central Bank of Iraq in combating money laundering and financing terrorism, as well as accelerating banking reforms for government banks, Government support for reform in this vital sector.

https://economy-news.net/content.php?id=33616

An Economist Told Nina: If There Are No Financial Amendments In Parliament, The Budget Will Be Passed Today

Monday, April 17, 2023 11:23 | Economical Number of readings: 251 Baghdad / NINA / - The specialist in economic affairs, Durgham Muhammad Ali, confirmed that the amendments and transfers of funds without fundamental amendments will not delay the approval of the budget.

Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that "only the amendments with a financial side can delay the approval of the budget, as it requires returning it from Parliament to the government again to make the amendments and vote on them governmentally again and return them to Parliament again to discuss them again.” .

And between, "Transfers and formal amendments do not require these steps, so the budget will be passed if its amendments are only formal."

Parliament had started yesterday with the second reading of the Federal Budget Law./ End 8[/rtl]

https://ninanews-com.translate.goog/Website/News/Details?key=1047734&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

High dollar prices in Baghdad Market Economy News _ Baghdad The exchange rates of the US dollar rose against the Iraqi dinar, on the main stock exchange in the capital, Baghdad, today, Monday.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, this morning, an exchange rate of 144,100 dinars against 100 dollars, while the prices on Sunday morning were 143,700 dinars against 100 dollars.

The buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 145,000 dinars, while the purchase price reached 143,000 dinars for every 100 dollars.

https://economy-news.net/content.php?id=33617

OPEC + Plans Raise Oil Prices In Global Markets

Energy Economy News – Baghdad Oil prices rose slightly on Monday, supported by OPEC + plans to cut more production, while investors await Chinese economic data in search of indications of a recovery in demand by the largest oil consumer in the world.

Brent crude futures rose 6 cents to $86.37 a barrel by 0350 GMT.

US West Texas Intermediate crude recorded $82.56 a barrel, up 4 cents.

Parliamentarian: All Parties Are Determined To Approve The Budget Quickly

In an interview with "Euphrates News" agency, which was followed by "Al-Iqtisad News", Al-Qaisar said, "There is a parliamentary determination from all parties to pass the budget law quickly."

High Oil Prices.. Brent Records 86.37 Dollars Per Barrel

Economy |Today, Baghdad today - follow-up Oil prices rose slightly today, Monday, supported by OPEC + plans to cut more production, while investors await Chinese economic data in search of indications of a recovery in demand by the largest oil consumer in the world.

Brent crude futures rose 6 cents to $86.37 a barrel by 0350 GMT, while US West Texas Intermediate crude was $82.56 a barrel, up 4 cents.

However, the International Energy Agency warned in its monthly report that the production cuts announced by OPEC+ producers threaten to exacerbate the expected oil supply deficit in the second half of the year and could harm consumers and the global economic recovery.

Rising costs of crude oil supplies in the Middle East, which meets more than half of demand in Asia, have already squeezed refiners' margins, prompting them to secure supplies from other regions.

Meanwhile, oil exports from northern Iraq to the Turkish port of Ceyhan were halted, nearly three weeks after an arbitration case ruled that Ankara owes Baghdad compensation for unauthorized exports. LINK

High Exchange Rate Of The Dollar In The Local Markets

Economy |Today Baghdad today – Baghdad Today, Monday, the exchange rates of the dollar against the dinar recorded a slight increase in the main stock exchange and exchange offices in the capital, Baghdad.

The (Baghdad Today) correspondent said, "The central Kifah Stock Exchange in Baghdad recorded, this morning, an exchange rate of 144,100 dinars for every 100 dollars."

He added, "The selling prices of the dollar in exchange shops recorded 144,500 dinars, while the purchase prices recorded 143,500 dinars for every 100 dinars." LINK

Report Of The Parliamentary Finance Committee Regarding The Iraq Budget Law

Policy |Today, Baghdad today – Baghdad Today, Baghdad publishes the text of the Finance Committee's report on the budget law. Press here

And the House of Representatives decided to keep its session open, provided that it resumes today, Monday, at one o'clock in the afternoon until six o'clock in the evening, and then resumes after that in the evening.

The size of the budget for the year 2023 is about 200 trillion dinars, with a deficit of 63 trillion dinars, and the base price of oil is 70 dollars. LINK

Dinar Recaps 20 4/17/23 Dinar Recaps 20 4/17/23

"Tidbits From TNT" Monday Morning 4-17-2023

TNT:

Tishwash: Parliamentarian: All parties are determined to approve the budget quickly

Doha Al-Qaiser, a member of the State of Law bloc, confirmed, on Monday, that there is a parliamentary determination to approve the financial budget "quickly."

In an interview with "Euphrates News" agency, which was followed by "Al-Iqtisad News", Al-Qaisar said, "There is a parliamentary determination from all parties to pass the budget law quickly."

TNT:

Tishwash: Parliamentarian: All parties are determined to approve the budget quickly

Doha Al-Qaiser, a member of the State of Law bloc, confirmed, on Monday, that there is a parliamentary determination to approve the financial budget "quickly."

In an interview with "Euphrates News" agency, which was followed by "Al-Iqtisad News", Al-Qaisar said, "There is a parliamentary determination from all parties to pass the budget law quickly."

Tishwash: Iraq and Egypt are the fastest growing Arab economies in 2023, and inflation is expected to decrease

The International Monetary Fund expected, on Monday, that the Iraqi and Egyptian economies will achieve the highest growth in 2023.

A schedule of the fund, seen by Shafaq News agency, showed that "the gross domestic product of Iraq and Egypt is expected to grow by 3.7% during the year 2023 and they will achieve the highest economic growth among the Arab countries," noting that "the economic growth of Iraq will decrease in 2024 to 3.1%, While Egypt's economic growth will rise in the same year to 5%.

he fund added, "It is expected that" consumer prices in Iraq (inflation) will rise to 6.6% in 2023 from 5% in 2022, while they will decrease in 2024 to 1.6%.

He pointed out that "Iraq's current account is also expected to achieve 4.4%, down from 2022, which amounted to 11.6%," noting that it is expected to "achieve a deficit in 2024 of 2.5%."

What is meant by the current account of a country is the value of exports and imports of both goods and services and international transfers of capital. link

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

Tishwash: Iraq and the World Bank are discussing anti-money laundering measures and accelerating banking reforms

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met with the Iraqi delegation, the regional representative of the World Bank, Farid Belhaj, and his executive team, as part of a series of meetings of the World Bank and the International Monetary Fund in Washington.

In turn, Al-Alaq stressed, "continuing to support the green economy and renewable energy through the clean energy initiative, represented by lending citizens to purchase solar energy systems and cooperating with government agencies to ensure the quality of the systems," calling for "technical support and benefiting from the expertise of the World Bank in expanding the Central Bank's initiative in Small business lending in light of the successful experiences of other countries.

Al-Alaq revealed "the creation of the Department of International Organizations and External Relations, which is linked to the Governor of the Central Bank to organize, strengthen and follow up relations, programs and memorandums of understanding with organizations and external parties."

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

Tishwash: The Governor of the Central Bank discusses with the regional representative of the World Bank and his executive team the reality of the Iraqi banking sector

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed today, Monday, with the regional representative of the World Bank and his executive team, the reality of the Iraqi banking sector.

The media office of the bank stated, in a statement, that "the governor of the Central Bank of Iraq met with the regional representative of the World Bank, Farid al-Hajj, and his executive team, as part of a series of meetings of the World Bank and the International Monetary Fund in Washington," and discussed with him the reality of the Iraqi banking sector and enhancing the concept of financial inclusion in the country through programs.

Especially with international institutions, and he explained that the two sides discussed the recent measures taken by the Governor of the Central Bank of Iraq in combating money laundering and financing terrorism, as well as accelerating banking reforms for government banks, and government support for reform in this vital sector.

The governor stressed, according to the statement: "Continuing to support the green economy and renewable energy through the clean energy initiative, which is represented by lending citizens to purchase solar energy systems and cooperation with government agencies to ensure the quality of the systems," calling for "technical support and benefiting from the expertise of the World Bank in expanding the initiative of the Central Bank." In lending to small projects in light of the successful experiences of other countries.

He revealed "the creation of the International Organizations and External Relations Department, which is linked to the Governor of the Central Bank to organize, strengthen and follow up on relations, programs and memorandums of understanding with organizations and external parties."

For his part, the regional representative of the World Bank expressed his cooperation in building the functional and technical capabilities of the Central Bank employees in the field of banking supervision and the supervision of electronic payment companies and non-bank financial institutions. link

Mot: ..... Ahah!!! -- This Splains it!!! ~~~~~

Mot: ..... Getting Ready fur the Final Arrival of Spring!! ~~~~

DINARRECAPS8 4/16/23 DINARRECAPS8 4/16/23

Iraqi News Highlights Sunday Evening 4-16-23

Tlm724 Administrator Bondlady’s Corner

Alaq Presents A Proposal To The International Monetary Fund On Economic Policies With Iraq

Economy News-Baghdad On Sunday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, discussed with the head of the International Monetary Fund, Kristalina Georgieva, the development of a technical program with the Fund that takes into account the country's security and economic conditions, especially the exceptional challenges that cost it exorbitant prices at various levels, according to a statement issued by Al-Alaq's office.

Iraqi News Highlights Sunday Evening 4-16-23

Tlm724 Administrator Bondlady’s Corner

Alaq Presents A Proposal To The International Monetary Fund On Economic Policies With Iraq

The statement stated that Kristalina expressed understanding of the situation in Iraq and the circumstances it went through, and supported the governor's proposal of the need for a program with the Fund to serve as a proven reference for economic policies between the two parties.

Later, the governor met with the Executive Director of the International Monetary Fund, Mahmoud Mohieldin, and the two sides discussed issues of financial stability in Iraq.

And Mohieldin expressed "the Fund's interest in providing the necessary support to Iraq in economic reform issues in order to achieve a gradual increase in its non-oil imports."

The two parties discussed "the need to sign an agreement between Iraq and the Fund whose framework and content will be determined during the visit of the International Monetary Fund team delegation to Baghdad."

The visit, which is scheduled to take place next month, aims to organize the economic reform steps, financial performance programs, and aspects in which Iraq requires technical and advisory support.

It is noteworthy that the Fund's experts stressed to the Iraqi delegation the importance of Iraq embarking on economic reforms in times of financial abundance, as oil revenues provide the possibility of support and flexibility for this program, especially those related to supporting the poorest segments and building financial buffers to counter fluctuations in global oil prices. https://economy-news.net/content.php?id=33611

The Central Bank is discussing with the International Monetary Fund the need for Iraq to develop a technical program

Economy| 08:57 - 04/16/2023 Baghdad - Mawazine News, Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed today, Sunday, with the head of the International Monetary Fund, Kristalina Georgieva, the need for Iraq to develop a technical program with the fund.

The bank said in a statement, a copy of which Mawazine News received, that "the governor of Iraq at the International Monetary Fund and the governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met on the sidelines of the fund's annual meetings in Washington, Kristalina Georgieva, head of the International Monetary Fund."

He added, "Al-Alaq discussed Iraq's need to develop a technical program with the fund that takes into account the country's security and economic conditions, especially the exceptional challenges that cost it dearly at various levels."

For her part, Kristalina expressed "understanding of the situation in Iraq and the circumstances it went through, and supported the governor's proposal of the need for a program with the Fund to serve as a proven reference for economic policies between the two parties."

The statement added, "The governor met later with the Executive Director of the International Monetary Fund, Mahmoud Mohieldin, and the two sides discussed issues of financial stability in Iraq."

Mohieddin expressed, according to the statement, "the Fund's interest in providing the necessary support to Iraq in issues of economic reform in order to achieve a gradual increase in its non-oil imports."

The statement continued, "The two parties discussed the necessity of signing an agreement between Iraq and the Fund, whose framework and content will be determined during the visit of the International Monetary Fund team delegation to Baghdad."

And he added, "The visit, which is scheduled to take place next month, aims to organize the steps of economic reform and financial performance programs, and the aspects in which Iraq requests technical and advisory support."

And he indicated that "the Fund's experts stressed to the Iraqi delegation the importance of Iraq embarking on economic reforms in times of financial abundance, as oil revenues provide the possibility of support and flexibility for this program, especially those related to supporting the poorest segments and building financial buffers to counter fluctuations in global oil prices."

https://www.mawazin.net/Details.aspx?jimare=224752

The Iraq Stock Exchange Announces Trading Indicators For The First Quarter Of The Current Year

Sunday 16, April 2023 09:51 | Economical Number of readings: 414 Baghdad / NINA /- Today, Sunday, the Iraq Stock Exchange announced trading indicators during the first quarter of 2023.

The market said in a statement that it "organized (60) trading sessions during the first quarter of 2023 with the shares of the listed joint-stock companies, numbering (103) Iraqi joint stock companies.

He added, "Among the most important indicators of the first quarter 2023 that the report showed:

1. The number of trading days reached (60) sessions - which are the actual working days

2. The number of traded shares reached (226) billion shares

3. The value of traded shares amounted to (260) JD

4. The value of the ISX60 price index increased from (611.83) points at the close of January to (637.07) points at the close of February, by (4.1)%

The value of the ISX60 price index increased from (611.83) ) points in the closing month of January to (641.46) points in the closing month of March, with a rate of (4.Cool%

6. Trading sessions will continue to be organized according to their official timings from 9:30 AM until 1:30 PM in various technical classifications on electronic systems.

He pointed out, "The indicators for the first quarter of 2023 increased compared to the first quarter of last year 2022, as follows:

1. The number of trading days index did not change - and the sessions were organized according to plan.

2. The number of shares traded index increased by (25.8 ) 3%.

The value of traded shares increased by (56.2)%

4. The value of the ISX60 price index increased by (9.5)% from the close of 2022./End2

https://ninanews.com/Website/News/Details?key=1047456

The Central Bank Takes Measures To Spare Currency Reserves From Risks

Economy 04-15-2023, 11:15 Baghdad – conscious Today, Saturday, the Central Bank of Iraq announced the size of foreign reserves, while indicating that it seeks to spare them from risks.

The Deputy Director General of the Investments Department at the Central Bank of Iraq, Muhammad Yunis, told the Iraqi News Agency (INA):

"The central bank's investments originate in foreign reserves held by the bank," pointing out that

it is divided into a group of segments, including liquidity segments and investment segments."". Yunus added,

"These reserves have now exceeded (110) billion dollars," noting that

"most of them are invested in assets that are as close as possible to risk-free." He continued,

"We try as much as possible to enter into investments that achieve reasonable returns and avoid the risks that foreign reserves may be exposed to," stressing that

"the returns on investments achieved are acceptable and achieve the goal for which the reserves were found." https://www.ina.iq/182975--.html

The Exchange Rates Of The Dollar On The Iraqi Stock Exchange For Today

Economy Sunday, April 16, 2023 11:37 am Baghdad / National News Center Today, Sunday, the National News Center publishes the exchange rates of the dollar against the dinar throughout Iraq.

In Baghdad: the purchase price of the dollar is 144,750 per 100 dollars, the purchase price of the dollar is 142,750 per 100 dollars

In the north: the purchase price of the dollar is 144,500 per 100 dollars, the purchase price of the dollar is 142,500 per 100 dollars

In the south: the purchase price of the dollar is 145,250 per 100 dollars, the purchase price of the dollar is 143,250 per 100 dollars https://nnciraq.com/200130/

The Governor Of The Central Bank Meets The President Of The International Monetary And The Executive Director Of The Fund

April 16, 2023 The Governor of Iraq in the International Monetary Fund and the

Governor of the Central Bank of Iraq met His Excellency Professor Ali Mohsen Al -Alaq on the sidelines of the annual meetings of the Fund in Washington,

Mrs. Crystalina Gorghevar, President of the International Monetary Fund.

His Excellency the Governor discussed the need of Iraq to develop an artistic program with the fund that takes into account the country's

security and

economic conditions, especially the

exceptional challenges that cost it a high price at various levels.

For her part, Mrs. Crystalina expressed

an understanding of the conditions of Iraq and the

circumstances that he went through, and

supported the proposal of His Excellency the Governor of the necessity of a program with the fund to serve as a reference to economic policies between the two parties.

His Excellency the Governor also met with the Executive Director of the International Monetary Fund, Mr. Mahmoud Mohiuddin, and the two parties discussed financial stability issues in Iraq.

Mr. Mohiuddin expressed the interest of the fund to provide the necessary support to Iraq in issues of economic reform in order to gradually achieve its non-oil imports.

The two parties discussed the necessity of signing an agreement between Iraq and the fund, which is

determined by its framework and content during the visit of the delegation of the International Monetary Fund team to Baghdad.

The visit to the next month aims to

organize the steps of economic reform and financial performance programs, and the

aspects in which Iraq is asking for technical and advisory support.

It is noteworthy that the experts of the fund assured the Iraqi delegation the

importance of Iraq to implement economic reforms in times of financial abundance because of the support and flexibility of oil revenues for this program,

especially those related to supporting the poorest segments and building financial bumps to meet the fluctuations of global oil prices.

The Central Bank of Iraq information Office 16 - Nissan – 2023 https://cbi.iq/news/view/2308

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