Sunday Morning Iraq Economic News Highlights 4-23-23

Sunday Morning Iraq Economic News Highlights 4-23-23

The Economic Shift In The Region Towards The Abandonment Of The Dollar Currency

Dr. Bilal Al-Khalifa   The Ukrainian conflict led to the acceleration of the global economic transformation in its adoption of the dollar currency, especially by the countries that were imposed on them by economic sanctions by America and its allies from among the European countries, and this means that the days of dollar hegemony are in their last days.

Let us take an example of the above, which is the West Asian region, especially the Arab Gulf countries, which have special and close relations with the United States of America, especially in the field of economy and energy, and began specifically with Saudi Arabia since 1937, the oil concession contract and the establishment of the Arab American Company (Aramco), and since that time until today Saudi Arabia has become the most important ally in the region for the Americans.

20 years ago, trade between the Kingdom of Saudi Arabia and the United States of America was exactly five times the volume of trade exchange with the People's Republic of China, as a result of several things, including:

1- The great technological and commercial development of China.

2- Licenses for Chinese products and services in exchange for other American and Chinese products.

3- Reading the economic reality that predicts that China will be the country with the largest economy in the world, and therefore it is wise to build trade relations with it.

As a result of these global variables, numbers and equations have changed, especially after 2021, the volume of trade between China and Saudi Arabia has become three times the volume of trade with the United States of America, and the figure below shows this.

On the other hand, China supplies oil from Saudi Arabia, meaning that Saudi Arabia is the largest supplier and ranks first in the field of oil and petrochemicals, and that China has a large economy, as it is the largest consumer of oil and is the largest country that buys and imports oil in the world, and this is what helps West Asian countries, including the Gulf countries. Arab countries, including the Kingdom of Saudi Arabia, tend to deal in the Chinese yuan instead of the US dollar.

This is a natural thing due to the large volume of trade exchange with China, because its interest necessitates that it deals with China in its currency, and the use of a currency other than the dollar avoids those countries from submitting to American hegemony over the economies of the region by imposing their economic will through their absolute authority over the movement of the dollar.

Examples of that The United States of America froze the assets of many countries, including the Islamic Republic of Iran and Russia, after the start of the Ukrainian crisis, which amounts to Russian reserves of foreign currency dollars at the limits of 300 billion dollars and the Swift system for financial transfers, and this matter makes many countries, including West Asian and oil-producing countries, to worry from US sanctions.

Especially after America and the European Union imposed sanctions on countries and companies operating in Russia that buy Russian oil, and then followed that with a decision to set the price of a barrel of Russian oil at $60 while the reference crude is around $80, and then also impose sanctions on petroleum products. such as gasoline and gas oil.

The most important solution that countries must adopt in which the dollar is the main currency in foreign trade transactions is diversification and planning for an alternative currency in reserve from hard currency, especially from the yuan currency. In the past few days, that is, in April of 2023, events began to accelerate in moving away About the dollar currency, and the Islamic Republic of Iran was the first country that resorted to other than the dollar, such as using the euro, the ruble, or local currencies in its commercial dealings.

Finally, after Western sanctions on the Russian Federation, the latter resorted to dealing in the Chinese yuan as a way to get rid of dealing in dollars. Russia has been imposed on countries that buy gas and oil in their local currency, which is the ruble.

As we see that at the beginning of 2022, more than 50% of Russian exports took place in the US dollar currency, and on the other hand, no commercial transaction took place in the Chinese yuan currency at a significant rate in Russian commercial transactions, as the percentage was only 0.4%, but Western sanctions from Before America and NATO accelerated the commercial transformation of transactions, as more than 14% of Russian exports are made in Chinese yuan, and this happened within one year only, but the Russians did not impose sanctions on dealing in dollars or euros, and this made it easier for the rest of the banks (except for the Central Bank) deal with that work.

The dollar, as everyone knows, and after 1972 and the Nixon setback, it became not covered by gold, and as for the Chinese yuan, it is like the rest of the world’s currencies, it has no cover of gold, and it became and becomes stronger day after day with the strength of gold and the strength of the Chinese economy, and thus it became a striking force and this is what China and Russia need to maintain On their political and economic standing against Western sanctions.

The global economic and political change has become evident to many countries of the world, and therefore some countries decided to change the currency in their commercial dealings from the dollar to the Chinese yuan. Among those countries are Brazil, India, China, South Africa and Russia. These countries are called BRICS countries, which represent 40% of the world's population.

And just as there are 12 other countries that decided to deal with China in yuan, including Saudi Arabia, which owns the second oil reserves in the world and the largest producer of it as well, which submitted a request to join the BRICS countries.

We also note that the value of the dollar during the past years has decreased year after year, and the reason is that it is not backed by gold and is backed by American hegemony only, and that the United States of America (the US Treasury) prints the dollar according to its need, not in 1972, when US President Nixon stopped valuation of the dollar in gold, and now she began to think Seriously,

the BRICS countries will create their own currency and be backed by gold in order for it to have strength, and therefore it will be the first time in more than half a century that a gold-backed currency appears to us, thus giving it priority and preference over the deteriorating US dollar, as well as giving people, countries and companies reassurance in dealing in this currency instead A dollar that is only paper.

The European Union has its own currency, and this currency has respectful dealings with regard to global trade, and it is independent of the dollar.

Therefore, the world will witness a new currency, which is the BRICS currency, in addition to the currency of the dollar and the euro, and thus it will deal according to three global actions.

As for Iraq, it will remain dependent on the dollar only because it does not dare, until now, to make blister money come directly to it, despite the absence of any legal cover for the Americans to put oil money The Iraqi is in the American Federal Bank, and what made the matter more complicated, in the recent negotiations at the end of February between the Iraqi government and the US Treasury, the funds were added to a loop that increases the complexity of the matter, which is that the funds are transferred from the Federal Bank to the GB Morgan Bank and then to the Central Bank of Iraq .    https://economy-news.net/content.php?id=33762

The Value Of The Dinar In The Parallel Market Increased By 5% Since The Beginning Of The Month

The currency of the dollar and the Iraqi dinar 

Money  and business  Economy News – Baghdad   Since the beginning of April, the value of the Iraqi dinar against the dollar has increased by about 5% in the parallel market.

The dollar was sold on the first of April at 150,750 dinars, while today it has fallen to 143,500 dinars, as its value fell by 7,250 dinars. But the dollar is sold by the Central Bank at a price of 1320 dinars to the last beneficiary.

The rise in the value of the dinar against the dollar is due to a series of measures taken by the Central Bank, known as the two reform packages that regulated foreign trade by forcing merchants to open bank accounts and deal directly with banks, in addition to coordinating trade with China through the Chinese yuan currency.

The Governor of the Central Bank, Ali Al-Alaq, said earlier this month that the central bank is on alert to restore the exchange rate of the dollar to its normal position, because what happened is that the Federal Bank audited financial transactions in advance while it was in the past after conducting the financial transfer process from Iraq.

He pointed out that now the external transfer operations have doubled, which creates a state of balance between supply and demand, and that the new system seemed to work faster than the previous one.

https://economy-news.net/content.php?id=33763

The Exchange Rate Of The Dollar On The Iraqi Stock Exchange Today

The exchange rates of the dollar recorded a decrease against the Iraqi dollar in trading today, Sunday.

The prices are as follows:

The selling price is 143,750 dinars per 100 dollars.

The purchase price is 141,750 dinars per 100 dollars.

https://takadum-news.com/archives/160852

Coordination Framework: We Are Determined To Pass The Draft Budget In Its Current Form

political| 02:40 - 04/23/2023   Baghdad - Mawazine News, a member of the coordination framework, Muhannad Al-Khazraji, confirmed, on Sunday, that the political forces are determined to pass the draft budget in its current form.

Al-Khazraji said in a statement, which Mawazine News received a copy of, that "the framework forces are determined to approve the federal general budget in its current form," noting that there are some minor amendments that may occur to some paragraphs of the budget in line with the provisions of the constitution and the law

. "There are desperate attempts by some political blocs to obstruct approving the budget in pursuit of personal and partisan projects," noting that "this budget is one of the largest budgets over the past years because it includes important economic strategic projects that will bring about a quantum leap in the field of infrastructure and economic development." nationwide

He stressed, "The framework forces and their allies are strongly supportive of the Sudanese government by passing the budget law, which has come to fulfill the ambition of the government program set by Mr. Al-Sudani," noting that "the current budget meets the aspirations of the Iraqis and is consistent with the actual need in developing the economy and maximizing its resources in the country." Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=225222

Deputy Basri: 5 Trillion Dinars Are The Shares Of The Governorates In The Budget, And We Seek To Increase Them

Policy      Baghdad today – Baghdad  The representative of Basra Governorate, Abd al-Amir al-Mayahi, announced his intention to request an increase in the share of the provinces, including Basra, in the financial budget.

Al-Mayahi told (Baghdad Today), that: "The share of the provinces amounts to five trillion dinars, and this is not enough, and therefore we want all provinces to receive their due financial allocations."

He added, "We will work to do justice to the provinces before passing the budget, including Basra, which is in an important need for services, especially the districts of Al-Hartha and Al-Dair and the north of the province."

And the Parliamentary Finance Committee had indicated, “an objection to the amounts for developing regions allocated to 15 governorates in the 2023 budget,” and considered them “few.”

The committee pointed out that "there is a remaining amount of emergency support allocated to the governorates, and it is possible to transfer funds from the allocations to ministries to the governorates," stressing that "the objection to shares in the budget can be resolved through dialogue."   LINK

The Dollar Fell By About A Thousand Dinars In The Regional Markets, Compared To Its Price Before The Holiday

 Baghdad - people     The exchange rate of the US dollar against the Iraqi dinar decreased in the markets of the Kurdistan region, on Sunday, by about 1,000 dinars, compared to its price before Eid al-Fitr, according to specialists.   The exchange rate of the dollar against the Iraqi dinar was 142,800 dinars, compared to 100 dollars.    https://www.nasnews.com/view.php?cat=106126

Iraq Is Regressing Among The Largest Holders Of US Treasury Bonds

2023-04-23 02:53  Shafaq News/ The US Treasury announced, on Sunday, that Iraq is one of the largest foreign holders of US Treasury bonds.

The treasury said in its latest table seen by Shafaq News agency, "Iraq fell one rank after Iraq reduced its holdings of bonds during last February, to reach the 30th rank among the 38 countries with the largest possession of US treasury bonds. It has more than 32 billion dollars.

And she added, "Iraq's possession of these bonds amounted to $40.7 billion for the month of February, down by 1.21 percent from last January, which Iraq's possession of bonds amounted to $41.2 billion, and an increase of 68.88 percent from February 2022."

The treasury indicated that "Iraq came as the third largest Arab country after Saudi Arabia and the UAE, while the two countries came on top of the countries with the largest possession of these bonds with 1 trillion and 81 billion dollars, followed by China second with 898 billion dollars, and the United Kingdom third with 643 billion dollars, and Belgium." Fourthly, with 331 billion dollars, and Luxembourg, fifth, with 327 billion dollars.   LINK

Iraqi News Highlights Saturday Afternoon 4-22-23

Iraqi News Highlights Saturday Afternoon 4-22-23

Tlm724 Administrator Bondlady’s Corner

The Prime Minister Congratulates Eid Al-Fitr: We Renew Our Commitment To Proceed With Building The State And Fulfilling The Aspirations Of Our People

Prime Minister Muhammad Shia'a Al-Sudani congratulated Eid Al-Fitr.   Al-Sudani said in a statement: “We extend to our honorable people, our people and our citizens in all parts of our dear Iraq, our sincere congratulations and fragrant wishes on the occasion of the blessed Eid Al-Fitr.

He added, "On this occasion, we renew our commitment to our people, and with high determination, to move forward with building the state and meeting the aspirations of our people for development, well-being, and a free and dignified life. This will only be achieved by upholding the value of hard and dedicated work, which represents our means in serving Iraq and its people."

https://www.radionawa.com/all-detail.aspx?jimare=34132

Central Bank Sales Approaching One Billion Dollars In 4 Days

Economy News-Baghdad   The Central Bank of Iraq's total sales of hard currency to dollars rose during the past week to more than 900 million dollars.

The correspondent of the "Economy News" agency stated that the Central Bank sold during the past week, during the four days in which the auction was opened, the amount of 904 million and 354 thousand and 091 dollars, at a daily rate of 226 million and 88 thousand and 522 dollars, up by 2.26% from what was recorded in the week that followed. It preceded it, in which the sales rate reached 211 million and 156 thousand and 980 dollars.

He added that the highest dollar sales during the past week were on Tuesday, when sales amounted to 283 million and 45 thousand and 994 dollars, while the lowest sales were on Monday, when sales amounted to 127 million and 85 thousand and 570 dollars.

He pointed out that sales of foreign remittances amounted during the past week to 539,954,091 dollars, an increase of 32.51%, compared to cash sales, which amounted to 364,400,000 dollars.

He explained that sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of remittances abroad and the cash sale price amounted to 1,310 dinars per dollar.   https://economy-news.net/content.php?id=33738

Iraq Is Ranked 115 Among The Richest Countries In The World

Saturday 22, April 2023 13:48 | GeneralNumber of readings: 309   Baghdad / NINA / - Iraq ranked 115th among the richest countries in the world in terms of per capita GDP adjusted for purchasing power, according to the American Global Finance magazine.

The magazine stated in its latest report for the current month of April: "The 10 poorest countries in the world have an average per capita purchasing power of $1,380, while in the ten richest countries, the average per capita purchasing power is more than $50,000, and per capita purchasing power has grown by only $30." in poor countries and more than $5,000 in high-income countries.

According to the magazine, "Iraq ranked 115th among the richest countries in the world out of 193 countries listed in the table," indicating that "per capita GDP in Iraq amounted to 12.927 thousand dollars."

Globally, according to the magazine's report, Ireland ranked first in the richest countries in the world with a share of 145,196 dollars, followed by Luxembourg with a share of 142,490 thousand dollars, Singapore came third with a share of 133,895 thousand dollars, and Qatar fourth with a share of 124,848, while South Sudan bottomed the table and ranked 193rd with a share of $ 516, preceded by Burundi $891.

In the Arab world, Qatar ranked first and fourth in the world with a share of 124,848 thousand dollars, followed by the UAE second and 6th in the world, with a share of 88,221 thousand dollars, followed by Saudi Arabia third and 23rd in the world with a share of 64,836 thousand dollars, followed by Bahrain fourth and ranked 27th in the world with a share of 60,596 thousand dollars, followed by Kuwait fifth and ranked 53 in the world with a share of 53.037 thousand dollars, followed by Oman sixth with a share of 42.188 thousand dollars, and then Libya came seventh with a share of 24.559 thousand dollars.

The magazine added that Egypt came eighth with a share of 16.979 thousand dollars, followed by Algeria ninth with a share of 13.507 thousand dollars, then Tunisia tenth with a share of 13.270 thousand dollars, then Iraq comes in the 11th place, followed by Jordan in the 12th place in the Arab world and a share of 12.893 thousand dollars, while the table did not include both : Lebanon, Syria, Afghanistan and Ukraine because there are no integrated official statistics in these countries./End

https://ninanews.com/Website/News/Details?Key=1048732

The Exchange Rates Of The Dollar On The Local Stock Exchange Today, Saturday

Saturday 22, April 2023 10:49 | EconomicalNumber of readings: 466   Baghdad / NINA /- The exchange rates of the dollar on the local stock market increased slightly today, Saturday.

The selling price was 144,000 dinars for one hundred dollars, and the purchase price was 142,000 dinars for one hundred dollars.

In the north, the selling price rose to 144,250 dinars for one hundred dollars, and the purchase price was 142,250 dinars for one hundred dollars.

In the south, the selling price reached 144,500 dinars for one hundred dollars, and the purchase price was 142,500 dinars for one hundred dollars. It is noteworthy that the central Kifah Stock Exchange in Baghdad closed last Thursday at 143,000 Iraqi dinars for 100 dollars, and on the Erbil Stock Exchange, the dollar also recorded a decline, as the selling price reached 143,250 dinars for every 100 dollars.

https://ninanews.com/Website/News/Details?Key=1048698

Foremost Among Them Is Iraq .. Iran: The Volume Of Trade Exchange With Neighboring Countries Amounted To Nearly 60 Billion Dollars

Posted On2023-04-22 By Sotaliraq   2023-04-22   The Committee on International Relations and Commercial Development of the Iranian Chamber of Industry, Mining and Commerce announced, on Saturday, that the volume of trade exchange between its country and 15 neighboring countries amounted to 58 billion and 843 million dollars during the past Iranian year (ending on March 20), usually Iraq is at the forefront of those countries.

Iran's semi-official Fars news agency quoted the committee's spokesman, Ruhollah Latifi, as saying: "Last year witnessed the exchange of nearly 96,767,117 tons of goods and merchandise between Iran and 15 neighboring countries, and this volume shows a growth of 4/14 percent compared to the year in which preceded by

He added that the non-oil trade between Iran and these countries last year witnessed the export volume exceeding the import volume, as the value of exports amounted to 30,537,406,659 dollars, while the value of imports amounted to 28,305,793,797 dollars.

Latifi also indicated that 52 percent of the volume of trade between Iran and these 15 countries is for non-oil trade, and that Iraq is at the forefront of importing countries from Iran, followed by Turkey, the UAE, Afghanistan and Pakistan.   LINK

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

https://www.bondladyscorner.com/

"Tidbits From TNT" Saturday 4-22-2023

TNT:

CandyKisses:  In the Eid sermon. Al-Hakim confirms the rule and authority of the people

Baghdad (Nina) - The head of the National State Forces Alliance, Ammar al-Hakim, stressed the rule of the people and their authority over everyone who serves them or otherwise.

Al-Hakim said in the Eid al-Fitr prayer sermon held at his office in Baghdad, that "the democratic achievement through the consolidation of the pillars of freedom, pluralism and the peaceful transfer of power, overcame decades of tyranny, dictatorship and the domination of one party and the sole ruler."

He added that "the constant equation of our people is that they have the power to stay or leave for everyone who serves their interests or deviates from the legal paths imposed by them, each according to his position, and this deliberative democratic achievement is the greatest victory for any people yearning for freedom, justice and the rule of the people for themselves."

CandyKisses:  Learn about Iraq’s rank among the richest countries in the world.

Shafaq News / Iraq ranked 115th among the richest countries in the world in terms of GDP adjusted for purchasing power according to the American global Finance magazine.

“Inflation rates and the cost of domestic goods and services, we can get a more accurate picture of the country’s average standard of living: the resulting figure is the so-called purchasing power parity (PPP), often expressed in international dollars to allow comparisons between different countries,” the magazine said in its latest April 2023 report seen by Shafaq News.

“The 10 poorest countries in the world, the average purchasing power per capita is $1,380, while in the 10 richest countries, the average purchasing power per capita is over $05,000, and the purchasing power per capita grew by only $30 in poor countries and by more than $5,000 in high-income countries,” she explained.

According to the magazine, "Iraq ranked 115th in the richest countries in the world out of 193 countries listed in the table," noting that "the per capita GDP in Iraq amounted to 12.927 thousand dollars."

Globally, according to the magazine's report, Ireland came first place in the richest countries in the world with a share of 145,196 dollars, followed by Luxembourg second with a share of 142.490 thousand dollars, Singapore came third with the share of 133.895 thousand dollars, and Qatar fourth with a share of 124.848, while South Sudan appended the table with 193 with the share of $516, preceded by Burundi $891.

In the Arab world, Qatar came in first place and fourth in the world with a share of 124,848 thousand dollars, followed by the UAE and 6th place in the world, with a share of 88.221 thousand dollars, followed by Saudi Arabia third and 23rd in the world with a share of 64,836 thousand dollars, followed by Bahrain fourth with 27th in the world with a share of 60,596 thousand dollars, followed by Kuwait fifth and 53rd in the world with a share of 53,037,000 dollars, followed by Oman sixth with a share of 42,288 thousand dollars, and then Libya came seventh with a share of 24,559 thousand dollars.

The magazine added that Egypt came eighth with a share of 16,979 thousand dollars, followed by Algeria ninth and with a share of 13.507 thousand dollars, and then Tunisia tenth with a share of 13.270 thousand dollars, then Iraq comes in 11th place followed by Jordan in 12th place in Arab countries and with a share of 12.893 thousand dollars, while the table did not address: Lebanon, Syria, Afghanistan and Ukraine because there are no integrated official statistics in these countries.

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

Harambe:  Vietnam Website

Man buys $250,000 worth of plane tickets for just $17,000 after airline currency conversion mistake

| The Independent (4/21/23) 

A man has bought $250,000 worth of plane tickets for just $17,000 after the Japanese airline All Nippon Airways listed incorrect prices for tickets due to a currency conversion error, according to Bloomberg.

Bloomberg reports that a man named Herman Yip said he purchased 25 tickets at a major discount after the popular Japanese carrier listed incorrect ticket prices on its Vietnam website. The 32-year-old, who runs a travel website from Hong Kong, said he even purchased a round-trip first class flight from Jakarta, Indonesia to Aruba, via Tokyo and New York, for only $890 – a discount that’s close to 95 per cent off its original ticket price.

On Wednesday 19 April, All Nippon Airways (ANA) said that airfares were listed incorrectly on its Vietnam website due to a glitch in its currency conversion. A spokesperson for the airline told Bloombergthat it’s “investigating the cause of the bug and the size of its damage,” but it’s still unclear how many people had secured discount tickets. 

ANA has yet to make a final decision over whether the airline will honour the low-priced airfare, but discounted tickets will still be valid for those who fly before their decision is made.

“I guess ANA hasn’t made clear if they’re going to honor the tickets or not, because the impact from the incident seems so huge as the bug lasted for so long,” said Mr Yip, adding that the low ticket prices remained on the ANA website for at least 12 hours. “I know 20 people who knew about the incident, and that of course just multiplies the impact.”

In addition to his first class flight from Indonesia to the Caribbean, Mr Yip also snatched up plane tickets for his family and friends. “I didn’t even bother to ask them whether they were able to make it or not, as I needed to book really quickly,” he said. 

Mr Yip also discovered that he could change his flight for free after the order was confirmed, so he updated his first class trip to begin in Bangkok, Thailand rather than Jakarta, because it was closer to his home in Hong Kong.

Many of the tickets affected by the currency conversion error were reportedly business class flights between North America and Asia, which usually range from $8,000 to $10,000, but went for as little as $300 at the time of the glitch. Another person who works in the airline industry told Bloomberg that he booked a return business class ticket from Jakarta to Honolulu via Tokyo for 13 million dong, or about $550. After the error was fixed, the flight returned to its usual fare of $8,200.

All Nippon Airways – which was founded in 1952 – has grown to become Japan’s largest airline, receiving a five-star ratingeach year over the past 10 years. It was ranked number three out of the world’s top 100 airlines for 2021, according to Skytrax, and in 2019 it was named the world’s cleanest airline.

The Japanese airline isn’t the only carrier to mistakenly sell airfare at a significantly low price. In 2019, Hong Kong airline Cathay Pacific Airways accidentally sold first and business class tickets from Vietnam to the United States for $675, a flight that would normally cost as much as $16,000.

https://www.independent.co.uk/travel/all-nippon-airways-plane-ticket-conversion-b2324484.html

Mot: ...... siiggghhhhhhh -- Maybe this Weekend!!!!

Mot: ... hoping Sooooooooooooon - We Can Freely Do this!!

Goldilocks "The Old Financial System's Dominos are Falling Faster." 4-22-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted links with comments this morning:

Just a little over a year and a half ago, we began this journey together. Some of you have been with me since the beginning, and you may recall when I told you that Fintech and Standard Charter was and will play a vital role in the future for us. 

The Commodity Futures and Trade Commission has just made an announcement. 

"CFTC Grants RTX Fintech & Research LLC Registration as a Swap Execution Facility."

RTX supports real-time automated trading platforms.

"RTX is the only secure, risk-free full-stack Global Clearing Exchange Bridge between local niche carriers and Tier 1 operators."

What makes this so important? It is a chosen digital-asset trading platform that will allow our gold backed digital/currencies to go through the new digital banking system in our currency exchanges. 

© Goldilocks

Route Trader LINK

CFTC LINK

~~~~~~~~~~

Are we ready to hear about another bank going into default? 

The First Republic Bank is making an announcement on Monday.

And, future indicators show this bank going into decline. 

It is the future indicators that have a profound effect on investors. 

The old financial system's dominos are falling faster. 

Watch for a green light on gold to move into real values soon as the dollar moves into its real value.

© Goldilocks

Benzinga LINK

Simply Wall St LINK

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Saturday Morning Iraq Economic News Highlights 4-22-23

Saturday Morning Iraq Economic News Highlights 4-22-23

Learn About Iraq's Rank Among The Richest Countries In The World

2023-04-22 04:40   Shafaq News/ Iraq ranked 115th among the richest countries in the world in terms of per capita GDP adjusted for purchasing power, according to the American Global Finance magazine.

And the magazine stated in its latest report for April 2023, seen by Shafaq News Agency, "Inflation rates and the cost of local goods and services, we can get a more accurate picture of the average standard of living in the country: the resulting figure is what is called purchasing power parity (PPP), and often It is expressed in international dollars to allow comparisons between different countries.

She explained that "the 10 poorest countries in the world, the average per capita purchasing power is $1,380, while in the ten richest countries, the average per capita purchasing power is more than $05,000, and the per capita purchasing power has grown by only $30 in poor countries and by more than $5,000 in rich countries." high income.”

According to the magazine, "Iraq ranked 115th in the richest countries in the world out of 193 countries listed in the table," indicating that "per capita GDP in Iraq amounted to 12.927 thousand dollars."

Globally, according to the magazine's report, Ireland ranked first in the richest countries in the world with a share of 145,196 dollars, followed by Luxembourg second with a share of 142,490 thousand dollars, and Singapore came third with a share of 133,895 thousand dollars, and Qatar fourth with a share of 124,848, while South Sudan was at the bottom of the table and ranked 193rd with a share of $ 516. It is preceded by Burundi, 891 dollars.

In the Arab world, Qatar ranked first and fourth in the world with a share of 124,848 thousand dollars, followed by the UAE second and 6th in the world, with a share of 88,221 thousand dollars, followed by Saudi Arabia third and 23rd in the world with a share of 64,836 thousand dollars, followed by Bahrain fourth and ranked 27th in the world with a share of 60,596 thousand dollars, followed by Kuwait fifth and ranked 53 in the world with a share of 53.037 thousand dollars, followed by Oman sixth with a share of 42.188 thousand dollars, and then Libya came seventh with a share of 24.559 thousand dollars.

The magazine added that Egypt came eighth with a share of 16.979 thousand dollars, followed by Algeria ninth with a share of 13.507 thousand dollars, then Tunisia tenth with a share of 13.270 thousand dollars, then Iraq comes in the 11th place, followed by Jordan in the 12th place in the Arab world and a share of 12.893 thousand dollars, while the table did not include both : Lebanon, Syria, Afghanistan and Ukraine due to the lack of integrated official statistics in these countries.  LINK

Foremost Among Them Is Iraq .. Iran: The Volume Of Trade Exchange With Neighboring Countries Amounted To Nearly 60 Billion Dollars

2023-04-22 Shafaq News/ The International Relations and Commercial Development Committee of the Iranian Chamber of Industry, Mining and Commerce announced, on Saturday, that the volume of trade exchange between its country and 15 neighboring countries amounted to 58 billion and 843 million dollars during the past Iranian year (ending on March 20), usually Iraq. introduction to these countries.

Iran's semi-official Fars news agency quoted the committee's spokesman, Ruhollah Latifi, as saying: "Last year witnessed the exchange of nearly 96,767,117 tons of goods and merchandise between Iran and 15 neighboring countries, and this volume shows a growth of 4/14 percent compared to the year in which preceded by

He added that the non-oil trade between Iran and these countries last year witnessed the export volume exceeding the import volume, as the value of exports amounted to 30,537,406,659 dollars, while the value of imports amounted to 28,305,793,797 dollars.

Latifi also indicated that 52 percent of the volume of trade between Iran and these 15 countries is for non-oil trade, and that Iraq is at the forefront of importing countries from Iran, followed by Turkey, the UAE, Afghanistan and Pakistan.  LINK

Democrat: Stopping Oil Exports Through The Turkish Port Of Ceyhan Affects Iraq's Imports

Today 11:14  Information/Baghdad..    The representative of the Kurdistan Democratic Party, Jay Taymur, confirmed, on Saturday, that stopping oil exports through the port of Ceyhan causes severe damage to the total revenues of the Iraqi state, calling for the need to resume oil exports. 

Timur said in an interview with Al-Maalouma agency, that "stopping oil exports through the Turkish port of Ceyhan affects Iraq's budget on a daily basis," explaining that "it does not only affect the Kurdistan region, but also Kirkuk's exports." 

He added, "We are waiting for the government to expedite the resumption of oil exports and solve all problems with Turkey," attributing "the reason for stopping exports to the decision of the International Arbitration Court, which obliged Turkey to pay one billion 600 million dollars to the central government.” 

He pointed out that "millions of barrels are suspended, and Iraq will not benefit from its imports." He pointed out that "it is necessary to reach an agreement and reach understandings regarding the resumption of oil exports through the Turkish port of Ceyhan." 

And Prime Minister Muhammad Shia'a al-Sudani had directed all ministries to submit monthly reports that include non-oil revenues collected by the ministries and to discuss them. End / 25h  LINK

Khazali Reveals Notes That Will Be Included In The Budget Before It Is Passed

 Information/Baghdad..   The representative of the Al-Fateh Alliance, Faleh Al-Khazali, confirmed that he included some observations in the 2023 budget, indicating that some disadvantaged cities will be included for fairness.

 Al-Khazali said in a televised interview, followed by Al-Maalouma, that "the budget must ensure fair distribution according to disadvantage and oppression."

 He added, "There are parliamentary remarks that will be discussed in order to ripen the draft budget."

 He pointed out that "the employees' salaries are insured, and we stressed the need to amend the salary scale," noting that "modifying the salary scale is an urgent necessity due to inflation and the rise in the dollar." Ended 25   LINK

The exchange rates of the dollar on the local stock exchange today, Saturday

Saturday 22, April 2023 10:49 | Economical Number of readings: 157  Baghdad / NINA /- The exchange rates of the dollar on the local stock market increased slightly today, Saturday.

The selling price was 144,000 dinars for one hundred dollars, and the purchase price was 142,000 dinars for one hundred dollars.

In the north, the selling price rose to 144,250 dinars for one hundred dollars, and the purchase price was 142,250 dinars for one hundred dollars.

In the south, the selling price reached 144,500 dinars for one hundred dollars, and the purchase price was 142,500 dinars for one hundred dollars. It is noteworthy that the central Kifah Stock Exchange in Baghdad closed last Thursday at 143,000 Iraqi dinars for 100 dollars selling, and on the Erbil Stock Exchange, the dollar also recorded a decline, as the price reached 143,250 dinars for every 100 dollars./ End 8 To receive more news https://ninanews-com.translate.goog/Website/News/Details?key=1048698&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Kurdistan expects 7 million tourists to visit the region this year

Shafaq News/ Today, Saturday, the Kurdistan Region Tourism Authority expected seven million tourists to visit the cities of the region during the current year 2023.

The spokesman for the Tourism Authority of the Kurdistan Regional Government, Ibrahim Abdul Majeed, said in a press statement received by Shafaq News Agency, that more than two million local and foreign tourists arrived in the Kurdistan Region during the first three months of this year.

He added that according to the plan, more than seven million tourists are expected to visit the tourist areas in Kurdistan until the end of this year.

A spokesman for the Kurdistan Tourism Authority stated that they made full preparations for the blessed Eid al-Fitr holiday, so that the tourists who came to the cities of the Kurdistan Region could spend enjoyable times.   LINK

A Deputy Reveals Efforts To Transfer Funds To Support The Development Of The Regions In The 2023 Budget

Information / Diyala...    Representative Ahmed Rahim confirmed, on Saturday, the existence of parliamentary efforts to conduct a transfer of funds to support the development of the regions in the 2023 budget.

Rahim said in an interview with Al-Maalouma, "What was allocated in the 2023 budget for the development of the regions does not exceed 2.5 trillion, which represents a very small percentage that cannot cover the needs of the provinces, including Diyala, or at least finance ongoing projects."

He added, "The survival of what is allocated for the development of the regions within its current borders will constitute pressure on the provinces that are in dire need of new projects and ongoing financing, stressing the existence of parliamentary efforts that are currently being made in order to conduct a transfer of funds through the doors to support the development of the regions in the 2023 budget.”

He pointed out that "increasing the financial allocations of the provinces is very important, especially with the presence of projects that require direct ones, especially the ministerial ones that they have worked on for years."

And the provinces depend on the development of the regions as an annual budget to finance service projects in several fields.   LINK

Central Bank Sales Approaching One Billion Dollars In 4 Days

Drains  Economy News-Baghdad   The Central Bank of Iraq's total sales of hard currency to dollars rose during the past week to more than 900 million dollars.

The correspondent of the "Economy News" agency stated that the Central Bank sold during the past week, during the four days in which the auction was opened, the amount of 904 million and 354 thousand and 091 dollars, at a daily rate of 226 million and 88 thousand and 522 dollars, up by 2.26% from what was recorded in the week that followed. It preceded it, in which the sales rate reached 211 million and 156 thousand and 980 dollars.

He added that the highest dollar sales during the past week were on Tuesday, when sales amounted to 283 million and 45 thousand and 994 dollars, while the lowest sales were on Monday, when sales amounted to 127 million and 85 thousand and 570 dollars.

He pointed out that sales of foreign remittances amounted during the past week to 539,954,091 dollars, an increase of 32.51%, compared to cash sales, which amounted to 364,400,000 dollars.

He explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards amounted to 1,305 dinars per dollar, while the selling price of remittances abroad and the cash sale price amounted to 1,310 dinars per dollar.   https://economy-news.net/content.php?id=33738

Gallup Poll: Iraqis Hate Iran The Most In The Muslim World

  Baghdad - Nas   After years of hostility, Saudi Arabia and Iran began last week to reopen their embassies in Tehran and Riyadh, in the latest step towards restoring diplomatic relations between the two regional rivals. According to Gallup polls, it does not enjoy mass popularity even among Shiite circles, which explains the secret of the strength of the Iraqi Shiite leader Muqtada al-Sadr, according to the institution. 

The foundation's data tracked by "NAS" (April 22, 2023) shows that in 13 Muslim-majority countries stretching from Morocco to Pakistan, average support for the Saudi leadership in 2022 was much higher than the Iranian leadership (39% vs. 14%, respectively). Because in addition to being the most important oil producer in the world, it is the custodian of the Two Holy Mosques, and its relative popularity in the countries located in the immediate and surrounding areas makes it an indispensable partner easily. 

 The following is a summary of the statements of the international organization: 

The popularity of the Kingdom’s leadership is higher than that of its counterpart in Iran in all 13 countries surveyed in 2022, and many of these countries have witnessed a large gap in numbers, and Kuwait and Libya stand out in their preference for the Kingdom, while Turkey and the Palestinian territories are at the forefront of those who reject Saudi Arabia. 

 In neighboring Kuwait, the difference in popularity between the two leaderships of 47 percentage points in favor of the Kingdom highlights the close relationship between the two member states of the Gulf Cooperation Council and OPEC partners, while the difference between the popularity of the leadership recorded in Libya of 41 points is in the interest of the Kingdom. 

  While popularity is higher for Saudi Arabia in all countries, the difference in popularity between the two leaderships in Riyadh and Tehran is less pronounced in Turkey, where the strong disapproval of both the Kingdom and Iran translates into a slight difference of only three points in favor of the kingdom (11% for Saudi Arabia and 8% to Iran). 

And in the Palestinian territories, the approval gap is relatively low at 12 points, although Palestinians' opinions of all the foreign powers, including China, Russia and the United States, have remained similarly low for years. (26% for Saudi Arabia and 14% for Iran). 

  In 2022, Pakistan alone saw half of the sample respondent support Iran, while other countries reached no more than a quarter of the population, making Iranian leadership unpopular among the other 12 countries. 

  The countries where Iran has had the most influence give Tehran some of the lowest popularity scores such as Iraq, where large majorities oppose Iranian leadership in Iraq (86%), Yemen (80%) and Lebanon (73%). 

 Unlike the Kingdom and most countries in the region, Iran is not Sunni or Arab, but while Lebanon's Shia population gives Iran relatively high levels of support (58% approval vs. 39% disapproval), Iraq's Shia Muslims do not (17% agree vs. 83% rejected), and this explains the source of support for the Iraqi nationalist leader Muqtada al-Sadr. 

  Gallup poll: Iraqis hate Iran the most in the Muslim world Me_ga

https://www.nasnews.com/view.php?cat=106056

Iraqi News Highlights Friday Afternoon 4-21-23

Iraqi News Highlights Friday Afternoon 4-21-23

Tlm724 Administrator Bondlady’s Corner

Will The "Parallel Dollar" Drop Soon?

Market  Economy News – Baghdad  On Friday, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, predicted that the exchange rate of the dollar in the parallel market would approach the official rate "very soon."

Saleh said, "We expect very soon that the exchange rate of the parallel dollar will approach the official rate with the continuation of external transfers, especially since all private banks committed themselves to transfers and the electronic government controls th

Saleh said in a press statement, followed by "Al-Iqtisad News", that "all these matters will lead to the decline of the exchange rate of the parallel dollar to the official price."

https://economy-news.net/content.php?id=33731

The Dollar Is Falling Against The Iraqi Dinar In Today's Trading

Economy   Friday, April 21, 2023 12:27 PM  Baghdad / National News Center   Today, Friday, the National News Center publishes the exchange rates of the dollar against the Iraqi dinar in the capital, Baghdad, and throughout the country.

The prices were as follows:

Baghdad   Selling: 144,000 dinars per 100 dollars   Buying: 142,000 dinars per 100 dollars

South   Selling: 144,500 dinars per 100 dollars   Buying: 142,500 dinars per 100 dollars

North   Selling: 144,250 dinars per 100 dollars   Buying: 142,250 dinars per 100 dollars

https://nnciraq.com/201160/

Oil Declines And Continues The Losses Of The Previous Two Sessions

Economy| 09:06 - 04/21/2023   Follow-up - Mawazine News   Oil prices fell, on Friday, continuing the losses of the previous two sessions, and heading towards a weekly decline, as weak US economic data and an increase in US fuel stocks raised concerns about stagnation and slowing demand for oil.

By 0101 GMT, Brent crude futures for June delivery were down 14 cents, or 0.2 percent, at $80.96 a barrel.

West Texas Intermediate crude futures for June delivery fell 12 cents, or 0.2 percent, to $77.25 a barrel.

The two raw materials fell by more than 2% to their lowest levels since the end of March on Thursday, amid fears of a possible recession, and are heading towards recording a weekly decline of about 6%. Ended   https://www.mawazin.net/Details.aspx?jimare=225101

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

https://www.bondladyscorner.com/

Goldilocks "StableCoins, Bond Rates and more" Friday 4-21-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links:

"Bank of America’s Hartnett sees 20% dollar selloff, turns bullish on gold."

Hartnett's predictions do not go unfounded, and he is well known in the field of economists to make claims that come true based on facts.

March was an explosive month for Gold, and the selling/buying of Gold is beginning to really take hold in the economy. 

Gold's use case scenarios, monetary policies, and various monetary utilization is continuing to grow. 

It is important to associate ourselves going forward with firms and people who know how to align themselves with the benefits gold provides. 

© Goldilocks

Coin News LINK

USA Gold LINK

USA Gold LINK

~~~~~~~~~~

House Republicans Face Resistance Reviving Stablecoin Bill

The United States is at a crossroads. There has been some resistance since the beginning of the year in formulating policies and standards for stablecoins, but the issue can no longer be denied. 

"Continue Work on Stablecoin Legislation or Risk Forfeiting the Financial Future."

Countries around the world have already begun establishing standards and protocols for the use of their own digital currencies. 

In order for the United States to compete, we are going to have to get into the game. This creates pressure on the dollar status as World Reserve Currency as money velocity increases demand and value for countries well on their way to establishing these new opportunities. 

"Yesterday, the House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Inclusion held a hearing on stablecoins (cryptocurrencies pegged to the value of an asset like the dollar)."

As you can see, we are currently engaged in establishing monetary policies and protocols that will allow the US to engage in the future of the global economy. 

© Goldilocks

Cato LINK

WSJ LINK

~~~~~~~~~~

Russia's Crypto Power Move: Changing The Game For International Business

The Central Bank of Russia is currently drafting legislation for the use of cryptocurrencies in international trade.

And now, they are forming special organizations that will allow them to mine and produce digital currencies in cross-border trade. 

This will serve as a great compliment to the enhancement of the BRICS Nations.

© Goldilocks

LINK

~~~~~~~~~~

There’s Still Time To Lock In 6.89% I Bond Rates Before They Reset

Forbes LINK

~~~~~~~~~~

"BoE and CFTC continue CCP supervision agreement."

This is another situation where the CFTC is supervising the clearance of cross-border international trading for the Bank of England.

This standardizing process of the Commodities Futures Trading Commission will clear both sides of a trade and ensure the funds are there in doing so. 

© Goldilocks

Asset Servicing Times LINK

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Friday Morning Iraq Economic News Highlights 4-21-23

Friday Morning Iraq Economic News Highlights 4-21-23

A Government Advisor Expects The Exchange Rate Of The Dollar In The Parallel Market To Approach The Official Rate

Economy  The economic advisor to the Prime Minister, Mazhar Muhammad Salih, expected that the exchange rate of the dollar in the parallel market would approach the official rate.

Saleh said in a press statement: "We expect very soon that the exchange rate of the parallel dollar will approach the official rate with the continuation of external transfers, especially since all private banks have committed themselves to transfers and the electronic government controls these external transfers."

And he indicated that "all these matters will lead to the decline of the parallel dollar exchange rate to the official rate."

Prime Minister Muhammad Shia al-Sudani said in an interview with a number of local media two days ago that: "The fluctuations in the exchange rates of the dollar are the result of the non-implementation of the agreement signed between the previous government and the central bank with the Federal Bank and the US Treasury."

Al-Sudani added, "The exchange rate of the dollar against the dinar will decrease to reach its official price of 1,320 dinars," stressing that "the Iraqi dinar is strong and the financial situation is at its best, and we have great confidence in the Iraqi dinar."

He stressed that "the exchange rates of the dollar tend to stabilize and reach the official rate soon."

https://kirkuktv.net/AR/Details/14763

Finance Committee: We Are Going To Reduce The Budget Without Prejudice To The Government's Plan

Politics / Economics    Baghdad today – Baghdad  Today, Thursday, the Chairman of the Finance Committee, Atwan Al-Atwani, confirmed the existence of a continuous study of the budget before its approval, indicating that the trend is towards reducing it.

Al-Atwani told (Baghdad Today) that "we will reduce the final amount of the budget in order to reduce the deficit in it," adding, "However, the values ​​of the budget cannot be compromised in terms of its form, because it is the responsibility of the government, as it was placed within its government program."

He pointed out that "the committee will proceed to increase the amounts of the provinces because it has greatly reduced it to 5 trillion after it was 9 trillion within the food security law," noting that "the budget that will be approved is the budget for the current year, while the budgets for the next two years will be passed each in its year."

Al-Atwani praised the "great cooperation between the Parliamentary Finance Committee and Prime Minister Muhammad Shia'a Al-Sudani in order to reach a final agreement on the budget figures." LINK

Low Dollar Exchange Rates In The Local Market

Information/Baghdad..  Today, Friday, the exchange rates of the dollar against the dinar witnessed a slight decrease in the exchange rate of the dollar in the local markets in all governorates of the country.

The correspondent of the information agency said, “The buying and selling prices witnessed stability in the exchange rates of the dollar in exchange shops in the local markets in all governorates of the country, as the selling price reached 144,000 dinars per 100 dollars, while the purchase prices reached 142,000 dinars per 100 dollars.”    LINK

Obelisk Clock: Oil Wealth Is Improperly Managed And Poor Money Management

April 21, 2023   Baghdad/The Obelisk Al-Hadath: The Obelisk publishes the most prominent interactions of TV dialogues.   MP Youssef Al-Kalabi during a televised interview:

- The delay in the population census greatly affected the allocations of the central and southern cities in the budget

- Karbala has become an attractive environment for investment and its allocations in the budget must be doubled to receive millions of visitors annually

- The oil wealth in the country is managed incorrectly and the problem in Iraq is poor money management

- Wasit requests the federal government 1.5 Trillions of petrodollar allocations

- Wasit is not a “minor” for anyone, and we will sue any personality or entity that interferes in the province

– the deputy’s duties are limited to the legislative role and support for the province he represents

– there is a remarkable development in Wasit province and work is still in place

– there are integrated files to activate investment and the private sector In Wasit

- there is a major setback in the budget allocations to the governorates

- the ministries have doubled their financial allocations in the 2021 budget

https://almasalah.com/archives/49813

Expert: Operating The Karbala Refinery Will Cause Iraq To Lose 3.3 Billion Dollars Annually.. How Is That?

Energy   Economy News-Baghdad  Economic expert Nabil Al-Marsoumi revealed, on Thursday, that Iraq loses more than 3 billion dollars annually due to the operation of the Karbala oil refinery, presenting a solution to face the negative financial impact of the refinery.

Al-Marsoumi said in a post on Facebook, "Despite the strategic importance of the Karbala refinery through its production of environmentally friendly light oil derivatives, reducing imports of gasoline, kerosene and white oil, and employing many workers, as well as deepening the front and back links of the refinery with other sectors, the start of actual production If the refinery reaches its maximum capacity of 140,000 barrels per day in the coming months, it will result in a loss of public finances of about $3.3 billion annually.

He explained that "the loss represents the value of the difference between the price of selling Iraqi oil in the global market and the price of selling a subsidized barrel to the refinery, because the revenues from selling oil derivatives, including black oil, are not included in the accounts of the Ministry of Finance, but are included in the accounts of the Refineries Company and the General Company for the Distribution of Petroleum Products."

He added, "The government obtains 45% of the profits of the refinery and the General Company for the Distribution of Petroleum Products based on the Public Companies Law No. 23 of 1997, but this represents only a small part of the loss of the state treasury, especially since crude and refined oil is sold and bought internally at subsidized prices."

Al-Marsoumi indicated that "this loss can be avoided by charging the Ministry of Oil with the value of the difference between the price of a barrel of subsidized oil and the global price, especially since the budget of the Ministry of Oil has increased in the general budget for the year 2023 to 23.5 trillion dinars, after it was 11.5 trillion dinars in the 2021 budget."    https://economy-news.net/content.php?id=33707

Deputy: The "Audacity" Of Al-Sudani's Decisions Recovered The Looted Money And Stirred Up The Economic Recession

Money  and business   Economy News – Baghdad  Member of the Committee on Oil, Gas and Natural Resources, Representative Muhannad Al-Khazraji, considered, on Friday, that the "boldness" of Prime Minister Muhammad Shia'a Al-Sudani's decisions recovered the looted funds, strengthened the state's sovereignty, and moved the economic recession.

Al-Khazraji said in a statement, "The coordination framework in particular and the State Administration Coalition are continuing to support the Prime Minister's efforts to combat corruption," calling at the same time the House of Representatives and other political components to "support the government's efforts to pursue those wanted through international Interpol in corruption and terrorism cases." .

He added, "Hundreds of wanted people owe billions of dollars and live in complete prosperity, along with their families, as a result of the looting of public money," adding that "reforming the situation in the country takes a long time through integration between the executive and legislative governments to control economic security in the country and support independent bodies charged with fighting corruption."

Which is the main obstacle to the growth and prosperity of the national economy, especially since the Sudanese government has achieved tangible successes on the ground in a period not exceeding six months.    https://economy-news.net/content.php?id=33720

International Report: Eid Announces The Beginning Of A New Phase In The Middle East And The Improvement Of Iraq's Conditions

Arabic and international |Today, Baghdad today – Baghdad   In a report published Thursday, the Associated Press International described the beginning of Eid al-Fitr celebrations as a "declaration" of the beginning of a new phase in the Middle East that is witnessing the spread of peace and reconciliation, despite the emergence of a new conflict in the region, this time far from Iraq, according to its description.

The agency said, according to what was translated (Baghdad Today), that Iraq is no longer the focus of the poor security situation after its significant improvement and the entry of the countries of the region that have conflicted with each other for years a stage of "reconciliation" that led to the achievement of peace in Iraq, Syria, Yemen and Lebanon, in A reference to the Saudi-Iranian agreement.

The agency also indicated that the holiday that comes this time with the presence of "effects of destruction and conflict" in large areas of the Middle East that are still suffering from the effects of previous security events, now carries with it signs of a new phase in the Middle East with the Saudi-Iranian consensus and the Gulf states' tendency towards restoring relations. With Syria, in addition to stopping the conflict in Yemen.

The improvement of the political and security situation in the region, according to the agency, worsened the outbreak of conflict in Sudan between the army and the Rapid Intervention Forces, following clashes between the two parties that led to "hundreds of victims" despite international calls to stop the violence.   LINK

Developing The Gas Industry In Iraq

Thursday, 20-04-2023, Karrar Al-Asadi  Written by: Saleh Lafta  The great waste of gas wealth that is burned without any justification and costs Iraq billions annually, according to the Prime Minister’s admission, and goes away without Iraq benefiting from it in operating power plants, factories, and exports. It is a dilemma that has not found a solution. short.

The large reserves of Iraq enable it to occupy a high position among the two gas exporters, and constitute a major shift in diversifying its exports after adding gas imports to the current revenues, with the positive effects of gas exploitation on all sectors, such as falling energy prices and lower operating costs, and thus encouraging investors to open factories and factories in Iraq. It contributes to increasing job opportunities.

The measures to stop waste and take advantage of this enormous wealth were not at the level of ambition and did not put Iraq on the map of gas producing and exporting countries, although it is the fourth in the Arab world and the twelfth in the world with confirmed gas reserves according to specialized international companies, and it is still the second country in the world in burning gas with the pollution caused by burning operations. for the environment.

After the Russian-Ukrainian war and the sanctions imposed by European countries on Russian gas exports, and the damage to the Northern Stream pipelines that transport Russian gas to most European countries, Iraq has a historic opportunity to supply the European Union with gas in huge quantities through pipelines because reliance on transport in ships is costly and not as fast as pipelines. .

Therefore, if Iraq is serious about developing the gas industry, it should start from now on two parallel tracks so that there is no delay in one of them that causes the other to be disrupted or not benefited from

.The gas reserves in more than one region, particularly the geographical areas or patches, are large and it is expected that gas will continue to be extracted from them for many years.

The second of these paths: -

It is to start linking Iraq with European countries that are thirsty for cheap and clean energy with a pipeline network through Turkey and from there to the European Union so that the arrival of Iraqi gas to consumers is not delayed, as well as the development of export ports so that exports can be made to markets that cannot be connected to pipes.

Also, Iraq, taking advantage of its geographical location, can import gas from the Gulf countries and export it through the Iraqi pipeline network to the countries of the European continent, benefiting from the price difference and transportation costs, thus increasing its political influence on the countries of the world that are trying as much as possible to support stability in Iraq to maintain energy supplies.

The funds that the gas industry needs for its development can be easily saved through investments, and therefore we should not neglect or leave any opportunity from which Iraq can benefit from increasing the revenues of the public treasury. https://non14.net/public/156362

"Tidbits From TNT" Friday Morning 4-21-2023

TNT:

CandyKisses:  The President of the Republic congratulates the advent of Eid Al-Fitr

Baghdad Today - Baghdad

President of the Republic Abdul Latif Jamal Rashid congratulated on Friday the Iraqi people on the occasion of Eid al-Fitr.

Rashid said in a tweet on Twitter followed by (Baghdad Today), "With the advent of the blessed Eid al-Fitr, my warmest congratulations to all Iraqis, and all Muslims."

"Every year, our country and our people enjoy peace and prosperity. May God return him with goodness, Yemen and blessings, and to consolidate security and stability throughout the country."

Tishwash:  International Report: Eid announces the beginning of a new phase in the Middle East and the improvement of Iraq's conditions

In a report published Thursday, the Associated Press International described the beginning of Eid al-Fitr celebrations as a "declaration" of the beginning of a new phase in the Middle East that is witnessing the spread of peace and reconciliation, despite the emergence of a new conflict in the region, this time far from Iraq, according to its description.

The agency said, according to what was translated (Baghdad Today), that Iraq is no longer the focus of the poor security situation after its significant improvement and the entry of the countries of the region that have conflicted with each other for years a stage of "reconciliation" that led to the achievement of peace in Iraq, Syria, Yemen and Lebanon, in A reference to the Saudi-Iranian agreement. 

The agency also indicated that the holiday that comes this time with the presence of "effects of destruction and conflict" in large areas of the Middle East that are still suffering from the effects of previous security events, now carries with it signs of a new phase in the Middle East with the Saudi-Iranian agreement and the Gulf states' tendency towards restoring relations. With Syria, in addition to stopping the conflict in Yemen. 

The improvement of the political and security situation in the region, according to the agency, worsened the outbreak of conflict in Sudan between the army and the Rapid Intervention Forces, following clashes between the two parties that led to "hundreds of victims" despite international calls to stop the violence.  link

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Tishwash:  Iraq: Crowds in the Eid markets, without buying

Markets are not as usual every year, despite the crowd of pedestrians in their streets, in Iraq they are witnessing a noticeable stagnation and lack of shopping with the advent of Eid Al-Fitr.

The reasons for this are multiple, including the high prices of materials and commodities, and the significant decline in the purchasing power of employees and those with daily wages and limited income.

This holiday represents a new challenge for the poor and low-income class, due to the lack of approval of the budget law after the passage of the first third of the current year 2023, in addition to the instability of prices and the stability of the dollar price in the parallel market.

High prices

Al-Araby Al-Jadeed surveyed the opinions of a number of citizens in a market in the capital, Baghdad, where they complained about the continued high prices of clothes, holiday cakes, and foodstuffs, despite the Iraqi government's announcement to reduce the exchange rate of the dollar in an attempt to address the high prices of goods and materials in the markets.

Citizen Nazim Kamel held the merchants responsible for the rise in prices, because they took advantage of the need of Iraqi families who used to buy foodstuffs and pastries in preparation for the holidays.

Kamel explained that the exchange rate of the dollar against the dinar decreased relatively about 3 weeks ago in the parallel market, but the high prices of goods and materials are still exhausting the pockets of Iraqi families, especially employees and people with limited income or those who do not have stable sources of income.

Kamel called on the governmental and oversight agencies to intervene quickly and put an end to what he considers "exploitation of merchants" during the Eid period, which increases the burden and burdens the citizens.

For his part, citizen Atef Al-Azzawi added that the prices of sheep, cows and poultry meat are also witnessing a significant increase, as the price of a kilogram of lamb exceeded 20 thousand dinars (about 14 dollars), while its price at the beginning of this year was less than 16 thousand, which means That the price increased by 3 to 4 dollars per kilogram.

Al-Azzawi stressed that the market has become in a state of constant turmoil, with the absence of any governmental oversight or efforts working to limit this large increase in prices, indicating that there are many merchants who took advantage of this crisis in order to manipulate price levels and achieve the largest amount of profits at the expense of citizens.

Traders problems

Traders say that the rise in prices is not in their hands, as they face major problems related to the decline in the purchasing power of citizens, explaining that their goods remained in the warehouses due to the lack of demand for purchase.

A wholesaler in Baghdad, Amer Jumaa, said that the markets and subsidiary retail stores buy various commodities and merchandise in bulk from warehouses and large companies, and most of these companies import goods from abroad at official dollar prices supported by the Central Bank and through the currency sale window, which is Responsible for setting prices in the markets, where small traders buy their goods from these companies, which refuse to reduce prices.

Juma blamed the major import companies in Iraq for the high prices. Jumaa added that the value of the dinar has recently increased against the dollar, but there are materials that were purchased before this rise, and therefore we cannot sell them at a lower price in order to avoid losses.

Economic expert Karim El-Helou believes that the state of turmoil and financial instability in the market is mainly caused by the high value of the dollar and the technical problems that accompanied the electronic platform concerned with selling the dollar, the monopoly of import at the official price by subsidized companies and the deprivation of small traders and small companies from obtaining the dollar at the official price.

Al-Helou added, in his interview with Al-Araby Al-Jadeed, that the dollar’s ​​rise in the parallel market led to instability and an increase in the prices of food, consumer goods, clothing, and other imported goods.

Al-Helou pointed out that there are large numbers of low-income people and those below the poverty line who suffer from high prices compared to the declining standard of living. With the spending and living standards of the Iraqi family.   link

Mot:  ..... Kids!!! -- All the Same!! --- sigghhhhh – LOL

Mot:.... fer the Uninitiated Parents to Be!!! ~~~

Iraqi News Highlights Thursday Afternoon 4-20-23

Iraqi News Highlights Thursday Afternoon 4-20-23

Tlm724 Administrator Bondlady’s Corner

The Decline In Dollar Prices In Baghdad With The Closing Of The Stock Market

Economy  Thursday, April 20, 2023 4:10 PM  Baghdad / The National News Center  The exchange rates of the US dollar decreased against the Iraqi dinar, today, Thursday, 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 at an exchange rate of 142,800 Iraqi dinars for 100 dollars, while the prices this morning were 143,500 dinars for 100 dollars.”

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 143,500 Iraqi dinars, while the purchase prices reached 142,000 dinars per 100 dollars."    https://nnciraq.com/201039/

At A Value Of About 3.7 Million Dollars.. Disclosure Of Details Of A UN Project In "Al-Chibayish"

Money  and business  Economy News-Baghdad  The United Nations Development Program (UNDP) in Iraq announced that it has signed, in partnership with the Canadian Department of Foreign Affairs, Trade and Development (DFATD), an agreement for a project to protect the Iraqi Marshes, with approximately $3.7 million to increase biodiversity protection and people's resilience to climate change.

The program stated in a statement that “Iraqi Mesopotamian Marshes, one of the most important biodiversity hotspots in West Asia, a UNESCO World Heritage Site, and home to the country’s famous Marsh Arab culture, are now threatened by climate change and unsustainable human activities.

The unique ecosystems of the marshes are characterized by extreme drought, high temperature, low precipitation, and high rates of evaporation, in addition to the effects of climate change.

The resilience of ecosystems and biodiversity in the marshes is weakened by human impact on river flow, chemical pollutants and wastewater, and habitat destruction.

"The indigenous people of the Mesopotamian marshes, especially women and girls, are among the first to face the direct consequences of climate change and environmental devastation, due to their close relationship with nature," he added.

The range of activities proposed under the project, according to the statement, aim to “build the resilience of local communities to the impacts of climate change, particularly the indigenous Marsh women, address the root causes of biodiversity degradation, and protect wildlife populations, in a way that achieves co-benefits through poverty reduction.” social cohesion and climate change mitigation.

In particular, the project will focus on “investing in the empowerment of Marsh women where gender inequality is high, increasing their participation in decision-making processes and encouraging them to become agents of change in the Marshlands.

Given the extreme scarcity of water, the project will work to increase local water security by restoring Rehabilitating water recycling systems, equipping them with solar energy units, and conducting a comprehensive analysis of possible solutions to secure drinking water for the residents of the marshes, which are sustainable and developable in the long term, with climate change as a stress factor, which leads to accelerating the depletion of the marshes' resources.

The program indicated that "the project will conduct an important assessment of ecosystems to provide the first-ever scientific analysis of the state of the ecosystems in the Marshes, and their economic, social and cultural composition, and to present scenarios for human and environmental well-being in the future, to adapt conservation policy and manage them accordingly to support the restoration and preservation of ecosystems on the the earth". 

The project will include “locally managed hatcheries to replenish local fish stocks, improve regulations on sustainable hunting and fishing, enforcing such regulations in a gender and culturally sensitive manner, along with awareness campaigns in order to increase local ownership of biodiversity conservation.”

The project will focus on “a specific area of the central part of the marshes located in the Chibayish district of Dhi Qar Governorate, where the Central Marsh was listed as one of the Mesopotamian Wetlands of International Importance, and classified as a socio-environmental site due to the high levels of interaction between the local population.” and nature for thousands of years.

This project is a critical step towards protecting the Mesopotamian Marshes, addressing the growing effects of climate change, and preserving Iraq's natural heritage for future generations."

He pointed out that "the implementation of the project will be under the leadership of the Center for the Restoration of Iraqi Marshes and Wetlands (CRIMW) in the Iraqi Ministry of Water Resources."

https://economy-news.net/content.php?id=33713

The Industry Confirms Its Tendency To Open Up To All Countries To Conclude Agreements That Contribute To The Development Of Iraqi Industry

Thursday 20, April 2023 14:40 | Economical Number of readings: 220  Baghdad / NINA / - The Ministry of Industry and Minerals affirmed its tendency towards openness to all countries to reach partnership agreements that contribute to the development of Iraqi industry.

A statement by the Ministry of Industry stated that the administrative undersecretary of the ministry, Vice-Chairman of the Iraqi-Syrian Committee, Makki Ajib Al-Dairi, held an expanded meeting to discuss the working paper of the Iraqi side in the eleventh session of the joint Iraqi-Syrian committee, to be held in Syria next month, in the presence of the head of the National Investment Commission and a number of general managers and officials. In the ministries of trade, transport, finance, health, communications, agriculture, culture, and the Border Crossings Authority.

During the meeting, the Undersecretary of the Ministry of Industry stressed the need to discuss bilateral cooperation files in order to consolidate relations and enhance ways of economic, industrial, commercial, technical, cultural and scientific cooperation between the two brotherly countries and discuss proposals and observations of ministries and relevant authorities, pointing to the need to work on developing new memorandums of understanding for cooperation in the field of textile and leather industries.

And food industries and mineral resources through the development of the factories of the companies affiliated to the Ministry of Industry and Minerals through partnership with the Syrian side.”

As the agent confirmed, the Ministry of Industry is moving towards openness to all countries with the aim of reaching understandings and concluding partnership agreements, which would contribute to the development of Iraqi industry. In light of the many investment opportunities and projects available to the Ministry of Industry and its companies in various industrial fields.

. During the meeting, visions and ideas were put forward about activating new memorandums of understanding in various fields pertaining to the ministries of water resources, communications, health, education, culture, transport, interior, construction and housing for the purpose of presenting them to the Syrian side during the upcoming visit in order to reach common goals that serve the interest of the two brotherly peoples.    https://ninanews.com/Website/News/Details?key=1048450

Oil Prices Drop, And Brent Records 82 Dollars Per Barrel

Thursday 20, April 2023 10:01 | Economical Number of readings: 381  Baghdad / NINA / - Oil prices fell in Asian morning trading, today, Thursday, with the strength of the US dollar, amid expectations of raising interest rates and reducing demand concerns.

Brent crude futures fell 80 cents to trade at $82.32 a barrel.

West Texas Intermediate crude futures fell 69 cents to $78.47 by 04:40 GMT.

And these two crudes are the ones that are declining for a second day after falling by 2% yesterday, Wednesday, at their lowest levels since OPEC + announced a sudden production cut on April 2.

The US dollar index rose about 0.40% this week. A stronger dollar makes oil more expensive for holders of other currencies.

Although China reported better-than-expected GDP data, both industrial production and fixed-asset investment were lower than agreed, which did not help boost oil prices.

US economic activity has not changed much in recent weeks, with employment growth moderating somewhat and price increases appearing to be slowing./End 7

https://ninanews.com/Website/News/Details?key=1048409

Iraq Market Stops Its Activity For Five Days

Economy| 12:19 - 04/20/2023   Baghdad - Mawazine News   The Iraq Stock Exchange announced, today, Thursday, that it will stop its activity for a period of five days.

The market said in a statement, "Based on the Cabinet's decision to declare an official holiday for a period of five days on the occasion of Eid Al-Fitr, it will not organize trading sessions, starting from Thursday, corresponding to April 20, until next Monday."

The statement added, "The first trading session after the Eid holiday will be on Tuesday, April 25, according to its official timings."   https://www.mawazin.net/Details.aspx?jimare=225046

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Goldilocks "Blockchain Technology and more" Thursday 4-20-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links with comments this morning:

Commercial Real Estate concerns are beginning to show up on the market.

Many Banks are leveraged inside commercial real estate.

Banks are becoming increasingly cautious in lending out money at this time.

The days of easy money is gone.

© Goldilocks

Blockchain technology is challenging the Swift system.

The ability to make cross-border international trading transactions in milliseconds is becoming a preferred alternative.

The challenge in the past has always been the emerging market system and getting transfers to go through efficiently.

The cost of blockchain digital ledger transfers make it even more preferred to utilize the new digital International Payment System.

The Swift system is rapidly becoming outdated technology, and the shift to Quantum Financing is beginning to gain traction.

© Goldilocks

https://www.finextra.com/blogposting/24015/swift-alternatives-and-crypto-remittance--sending-money-with-crypto

https://striga.com/blog/swift-alternatives-how-is-crypto-remittance-replacing-swift-payment/

https://news.bitcoin.com/blockchain-to-become-more-relevant-in-payments-this-year-sberbank-exec-says/

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"CoinMENA now offers crypto services in Iraq"

This is allowing the private sector and their citizens an opportunity to move money internationally in digital format.

It will increase the demand for their money in cross border international trading situations adding to the money velocity of the Iraqi Dinar.

This new demand on their money will increase money flows into and outside of the country creating more value in the currencies they hold.

Remember, 70% of any marketplace comes from the consumers.

© Goldilocks

https://www.iraqinews.com/iraq/coinmena-now-offers-crypto-services-in-iraq/

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