"Tidbits From TNT" Thursday Morning 4-27-2023

TNT:

Tishwash:  Next week .. the launch of a new experience in the world of government and private banking

Next week, financial inclusion activities will start under the auspices of the Central Bank of Iraq and the Association of Private Banks.

The banking sector is preparing to participate in the activities of the Financial Inclusion Week, to be launched next week, under the auspices of the Central Bank of Iraq and the Association of Private Banks.

Many governmental and private banks participate in the events, which showcase banking services to customers, the use of electronic payment tools, pos devices, and the culture of electronic payment, which the government seeks to generalize the experience to all private and public sector institutions.   link

CandyKisses:  Iraq disrupts official working hours on Monday on Labor Day

Shafaq News / Iraqi Prime Minister Mohammed Shiaa Al-Sudani directed to disrupt official working hours on the first Monday of next May in conjunction with International Labor Day.

This came in a brief statement issued by his media office and received to Shafaq News.

May 1 marks International Workers’ Day, an occasion that the world’s workers celebrate and demand their rights.

The story of International Labor Day began in Australia, where workers began to go out in demonstrations on April 21, 1856 to demand that 8 hours a day be set for work, followed by demonstrations every year of that day in order to fulfill their demand.

On May 1, 1886, more than 340,000 Americans announced the departure of work and the strike, and workers' protests came under the attack of police forces on May 4 in the city of Haymarket, resulting in the loss of many workers' lives.

In 1889, the World Workers' Congress was held, 400 delegates attended this conference, and a decision was made to set 8 hours a day to work.

The conference approved the proposal of the representative of the workers of the French city of Bordeaux La Vigne to designate May 1 as International Workers' Day, and the celebration of this day began from 1890 to the present day.

This day has become part of the culture of all countries of the world.

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

CandyKisses:  Al-Alaq and the Minister of Finance put Al-Sudani in the latest developments in the file "digitization of salaries and government spending"

Baghdad - Iraq today:

Prime Minister Mohammed Shia Al-Sudani chaired a meeting of the Committee for the Localization of Salaries and the Unified Treasury Account, in the presence of the Governor of the Central Bank of Iraq, the Minister of Finance, the Prime Minister's advisers, the general directors of Al-Rafidain, Al-Rasheed and Iraqi Trade Banks, and a representative of the Federal Financial Supervision Office.

During the meeting, according to a statement by his media office, Al-Sudani listened to "a briefing by the Minister of Finance on the ministry's procedures regarding the unified public treasury system, the progress of the process of localizing the salaries of state employees, and the procedures related to the application of the electronic payment points system (POS)."

"The delay in implementing the unified treasury account over the past years has caused many cases of corruption and abuse of public funds, the latest of which was the crime of stealing tax guarantee funds (theft of the century)," al-Sudani said.

He stressed "the need to address the matter by applying the unified treasury system to reduce corruption, pointing out that the continuation of the current situation makes the state unaware of the amount of its balances and accounts or the number of its employees."

The prime minister stressed that "anyone who works to obstruct this project is a contributor to covering up corruption."

Al-Sudani directed "to speed up the preparation of new standards, including the largest number of electronic payment companies, which number about 16 companies, and to contract with companies that provide better services at a lower cost."

He also directed "the formation of a committee of representatives of ministries, governorates and government banks to install electronic payment points (POS) in all institutions, and to use international experiences and foreign expertise to support the project and encourage citizens to adopt it and deal financially through it."

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

Tishwash:  The workers of the oil, gas and petrochemical sectors announce a strike for three demands

"Tansueh Irani" newspaper shed light on the coordinated protests and strikes carried out by workers in the oil, gas and petrochemical sectors in Iran, and said that given the conditions and problems that these workers were suffering from, the occurrence of these strikes was expected.  

 The newspaper interviewed the representative of the workers in the Supreme Council of Labor, Ali Kadkhadai, who criticized the government's policies towards the segment of workers who endure harsh conditions to continue working, and are deprived of many benefits and rights due to the intransigence of officials in changing their working conditions and promoting them from temporary workers and short contracts. Term to permanent and official workers.  

"The recent strikes in the gas, oil and petrochemical sector are the result of Al-Awja's policies by the government," Kadkhadai added.  

Regarding the workers' basic demands, Kadkhadai said that the workers' demands are summarized in 3 main axes: job security, livelihood, and allowing the formation of trade unions and federations that demand their rights and make their voices heard.   link

Mot:  ..... Ya ba dab ba doooooo 

Mot:  .... Hurry! -- the 2023 Models have Arrived!!

Iraqi News Highlights Wednesday Evening 4-26-23

Iraqi News Highlights Wednesday Evening 4-26-23

Tlm724 Administrator Bondlady’s Corner

The First Bank In Iraq Whose Market Value Exceeds 500 Billion Dinars

Market   Economy News / Baghdad  The market value of the Bank of Baghdad exceeded half a trillion dinars, after its share rose during the past two days.  It is considered the first Iraqi bank to exceed this value, due to the profits it achieved during the past year, which exceeded 53 billion dinars.

The Bank of Baghdad share closed today, 2.6 dinars, down from yesterday by 6.8%, which exceeded the share of 2.79 dinars.   https://economy-news.net/content.php?id=33828

Economist For / NINA /: Iraq Is On The Cusp Of The Fifth Month Without A Financial Budget For Its Economic Sectors

Wednesday 26, April 2023 10:54 | Economical Number of readings: 374  Baghdad / NINA / - The expert in economic affairs, Safwan Qusai, warned today, Wednesday, of the continued delay in approving the budget, while he stressed that most of the state's ministries are without a financial budget, which negatively affects their performance.

He said in a statement to the National Iraqi News Agency ( NINA ) that "the 2023 budget was late, which reflects negatively on service projects, the operational budget and salaries of state employees, calling for speedy approval."

He pointed out that "the fiscal year 2023 is on the cusp of the fifth month, that is, half of the fiscal year, and without a budget for it, which leads to a breach in all the budgets of the service ministries and their needs, and a lack of economic production in the country."

Last month, the Council of Ministers approved the country's draft general budget law for the year 2023, with a deficit of $48.5 billion, and referred it to parliament for review and opinion before ratifying it and transferring it to the president.

And the media office of the President of the Council stated in a statement, “The Council of Ministers approved the draft federal budget law for the fiscal years 2023, 2024 and 2025,” noting that the budget deficit amounted to 63 trillion dinars (48.5 billion dollars), which it controls.

The deficit will be covered from a group of sources, including the amount transferred in the Ministry of Finance, from the share of treasury transfers in the Central Bank, bonds, internal loans, and other sources.”

Parliament is expected to announce its observations on what was stated in the draft budget, prior to its approval, and submitting it to the President for approval and transfer. to an enforceable law.

The quantities of crude oil exports in the 2023 budget will amount to about 3.5 million barrels per day, of which 400 thousand barrels per day are via the Kurdistan region./ End 8

https://ninanews.com/Website/News/Details?key=1049344

Parliamentary Finance: We Have Started Meetings To Amend The Budget And Are Studying The Possibility Of Reducing The Deficit

Political | 01:17 - 04/26/2023  Baghdad - Mawazine News  The Parliamentary Finance Committee announced, on Wednesday, that it is studying the possibility of reducing the fiscal deficit in the budget.

The head of the committee, Atwan Al-Atwani, said during the committee's meeting to discuss the budget, that "the committee began meetings to amend the paragraphs and articles in the budget according to its constitutional authority," pointing to "the formation of sub-committees in the committee to host executive officials to discuss and study their financial allocations to speed up the process of completing the amendments."

Al-Atwani added, "The committee is studying the possibility of reducing the financial deficit in the budget," calling on "the government to adopt productive advisory projects that contribute to supporting the national economy and enhancing non-oil revenues."

And he stressed the need to support the government and empower the private sector, "stressing" working to make the government's work a success.

https://www.mawazin.net/Details.aspx?jimare=225437

Iraqi Trade Bank: Our customers can make foreign commercial transfers to all countries of the world

Today, Wednesday, the Iraqi Trade Bank issued a statement regarding foreign commercial transfers.

And the media expert of the bank, Aqil Al-Shuwaili, stated in a statement, “Customers of the Iraqi Trade Bank from Iraqi private sector companies can make foreign commercial transfers through the platform of the Central Bank of Iraq to all countries of the world through the bank’s branches through their accounts opened in Iraqi dinars with the bank and are calculated at the official price approved by the bank.” by the Central Bank of Iraq.

The statement added, "The economically restricted countries are excluded from all banking transactions."    https://www.radionawa.com/all-detail.aspx?jimare=34162

The Decline In The Exchange Rates Of The Dollar In Morning Trading

Economy   Wednesday, April 26, 2023 10:42 am  Baghdad / National News Center  Today, Wednesday, the exchange rates of the dollar against the dinar recorded a decline in the main stock exchange and local markets in the capital, Baghdad.

The correspondent of the National News Center said: “The exchange rate of the dollar for today reached 140,300 Iraqi dinars for every 100 dollars on the stock exchange.”

He added, "The selling price reached 141,000 dinars per 100 dollars, and the purchase price reached 138,000 dinars per 100 dollars in local exchange offices."  https://nnciraq.com/201778/

High Oil Prices

Economy| 08:13 - 04/26/2023   Follow-up - Mawazine News  Oil prices rose in early Asian trading today, Wednesday, after data from the sector showed a significant decline in US crude oil inventories ahead of the release of government data.  Brent crude rose 16 cents, or 0.2 percent, to $80.93 a barrel by 0006 GMT.   US West Texas Intermediate crude rose 25 cents, or 0.3 percent, to $77.32 a barrel.   https://www.mawazin.net/Details.aspx?jimare=225412

Central Bank Sales Of The Dollar Increased

Economy| 12:22 - 04/26/2023  Baghdad - Mawazine News  The Central Bank's sales of foreign currency increased in an auction today, Wednesday, recording more than 187 million dollars.   https://www.mawazin.net/Details.aspx?jimare=225430

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

https://www.bondladyscorner.com/

Awake in 3D "GCR Sign???" 4-26-2023

Awake-in-3D:  GCR Sign???

Yuan overtakes dollar to become most-used currency in China's cross-border transactions

Is this meaningful in Our GCR landscape? No. Not really. But I’m sure this article will make its way around GCR Land saying the opposite.

What most likely won’t see mentioned on internet clickbait is the following, final paragraph of the article - which puts things into factual context.

“Data from SWIFT showed that the yuan's share of global currency transactions for trade finance rose to 4.5% in March, while the dollar accounted for 83.71%.”

While this is good news for China in their efforts to increase the Yuan’s use in cross-border trade, it’s of little significance to sparking a Global Monetary Reset.

I can explain…

The US Dollar supports a very deep capital market globally. No other currencies come close, and deep Capital is what fuels efficient global trade and economic development.

The USD remains the undisputed king of global commerce. Even if most countries dramatically reduce their holdings of USD reserves, 84% of global transactions are in USDs. This is the only thing that matters.

Even if China and Saudi Arabia begin transacting all oil sales in Yuan (instead of USD), Saudi Arabia cannot effectively utilize/spend all those billions of Yuan in the global market. That’s a serious problem!

Another fact we must all remember is that the Chinese Yuan is actually pegged to the US Dollar.

No significant global trading nations are going to stockpile and use Yuan that is dependent on the USD for its exchange rate value. They’re going to stick with dollars, which are liquid and readily convertible into every currency and accepted by every cross-border payment settlement exchange on the planet.

Can China end its USD peg?

Sure. But China maintains their peg so that the Yuan is remains less valuable than the dollar. This ensures that all things manufactured and exported from China have very low prices compared to other countries exports. And the USA is China’s largest export customer.

China is not going to end its USD currency peg anytime soon.

The only realistic way for the Yuan to meaningfully challenge the Dollar, and increase its attractiveness in global Capital Markets is for the Yuan to become readily convertible for use everywhere on earth.

How does China do that? They back the Yuan with gold and make the Yuan directly exchangeable for a fixed amount of the yellow metal.

And this is what I believe the BRICS endgame will be - creating a new, asset-backed currency to challenge the USD’s global convertibility for international trade.

Source: @GCR_RealTimeNews

————————————-

https://www.reuters.com/markets/currencies/yuan-overtakes-dollar-become-most-used-currency-chinas-cross-border-transactions-2023-04-26/

Many Blessings,

Ai3D

Iraqi News Highlights Wednesday Afternoon 4-26-23

Iraqi News Highlights Wednesday Afternoon 4-26-23

Tlm724 Administrator Bondlady’s Corner

How Many Years Does An Iraqi Need To Own A Million Dollars?!

April 24   Basil Abbas Khudair     Books / d. Basil Abbas Khudair One million dollars in Iraq is equivalent to one billion and 320 million dinars, according to the exchange rate set by the Central Bank of Iraq on February 7, 2023, which the markets have not adhered to until today, and

although money is a source of attraction for many people, we did not and will not know how many Iraqis would like to one day own a million dollars, and

regardless of the number of those wishing, the (Picodi) financial platform prepared a study according to which it estimated the number of years it would take for an individual in various countries of the world to collect a million dollars,

(Picodi) is a smart online shopping platform designed to help shoppers around the world, and analysts

The platform conducted the study in several countries based on the average monthly salary in each country. The study included countries from different continents, numbering 102 countries, including Iraq.

The platform’s analysts prepared an arrangement (classification) for the countries included in the study based on the average monthly salary in each country, and

According to the data available to the experts of the organization, Iraq ranked 45 (globally) among The 102 countries of the world included in the study (after excluding a number of countries such as Sudan, Syria, Palestine, etc.), and

according to the calculations made, the Iraqi individual needs 154 years and a month to collect only one million dollars, and

the first five countries that topped the classification in the ability of their members to collect a million in terms of Number of years

1. Switzerland: 14 years and 3 months

2. Singapore: 16 years and 11 months

3. Luxembourg: 17 years and 4 months

4. The United States: 19 years and 10 months

5. Iceland: 20 years and 11 months,

As for the last five countries In the classification, it was

1. Pakistan: 621 years and 3 months

2. Egypt: 603 years and 6 months

3. Uganda: 523 and 3 months

4. Nigeria: 519 and 1 month

5. Nepal: 420 and 9 months), and

the Arab countries that occupied the five advanced ranks In the Arab world, all of them are from the Arab Gulf states, which are

1. Qatar: 21 years and 3 months

2. UAE: 23 years and 9 months

3. Sultanate of Oman: 38 years and 6 months

4. Kuwait: 41 years and two months

5. Saudi Arabia:41 years and 10 months.

We mentioned them and others. They really cannot collect a million dollars, not in 154 years and a , but even in a million years, because their incomes are much less than the subsistence limits and cannot be saved, so from where do they collect a million dollars in 154 years?

They are among the groups most vulnerable to declining life expectancy due to lack of health services, poor nutrition, water quality, inadequate housing, lack of luxury, and living in poverty.

The aspect that this study neglected relates to what is circulated locally and has become known by many, with the existence of large numbers of Iraqis, not only of double salaries,

but of those who receive monthly salaries between 2-17 or more, and they are in large numbers,

some with official covers due to the existence of legislation that permits collection Between more than one salary and privilege or through circumvention of contexts, forgery, forgery and other means that are difficult to monitor because of the covers that are used to protect them from misleading, and

we point out in this regard that most of the statistics in the country are estimated and not accurate, as Iraq has not conducted an actual census of the population since 1997, and

the state lacks accurate and reliable information, and most of them are in the process of numbers, and the rolling number of the number of employees has not been completed because the previous government started an early project to count the number of employees, and

according to what is announced, the percentage of its completion has not ended even if it has reached advanced stages, and there is also a case From the discrepancy between the nominal salary and allowances Incentives and privileges, not to mention the lack of fairness between the salaries of employees with the same degree, length of service, and specialization.

Therefore, the state has been seeking for years to find a fair scale for salaries,

but it is a topic that is postponed and carried over from year to year and is still in the process of preparation, and

as a matter of honesty, we say to that platform or others that are specialized in studies and arrangement. Classification and then comparisons, that

our country is not only poor, according to the International Monetary Fund report, as it placed us within the global and first Arab sequence in terms of GDP growth for the year 2022, and that

there are individuals who succeeded in collecting a million dollars or more, not in 154 years, but in days, and we do not believe that they were included in the classification To improve our national figure in the period of formation of one million dollars.

https://almaalomah-me.translate.goog/articles/26170/كم-سنة-يحتاج-العراقي-ليمتلك-مليون-دولار

Advisor To The Prime Minister: The Value Of Treasury Transfers Is Currently Estimated At 46 Trillion Dinars

Economy     Yesterday, 12:59  Baghdad - aware - Nassar Al-Hajj  Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that foreign currency reserves are high, safe and at comfortable levels, while he indicated that the

value of treasury transfers is currently estimated at about 46 trillion dinars.

Salih told the Iraqi News Agency (INA), that

"the Central Bank is an independent authority and enjoys broad legal independence, as

it is based on the Central Bank of Iraq Law No. 56 of 2004, especially Article 26, which bears an explicit title that reads:" Prohibition of lending to the government (no). directly or indirectly). 

He noted that "the Central Bank is the authority to issue the national currency and maintain the stability of the value of the national currency and its purchasing power, and

it has the freedom to intervene in the money market to impose stability and reduce inflation rates by controlling local liquidity levels, which are monetary operations that come within the operational objectives of monetary policy, and It's called "sterilization" procedures. 

He added, "The Central Bank is responsible for managing the government's financial operations, as well as managing the country's foreign currency reserves, according to the best methods of managing sovereign investment portfolios, and its standard evidence in terms of maximizing asset returns and avoiding all risks, whether legal, price and others." 

He pointed out that "although the Central Bank, by virtue of its role in controlling local liquidity levels and controlling its flows to achieve stability in the growth of the money supply,

it exercises secondary market operations in the sale and purchase of securities in general and government ones in particular in order to manage general liquidity in the economy."

And controlling its levels and growth rates in a way that achieves monetary and price stability, and

this is done through direct dealings with the national banking market exclusively. 

And he continued, "The Central Bank currently holds, through secondary market operations, about 64 percent of the total internal public debt, which are government debt instruments in the form of bonds and treasury transfers

(that is, they are government borrowing tools that were discounted by local banks, and

they are the primary holder of them before discounting them with the monetary authority).,

As banks, especially government ones, at different periods deducted their interest with the Central Bank and regained their liquidity, and

they carry an annual interest ranging between 2-3 percent, and

today they have become an integral part of the assets or assets in the balance sheet of the Central Bank of Iraq.  And he added,

"The value of treasury transfers in the possession of the monetary authority is currently estimated at 46 trillion dinars," pointing out that

"the foreign currency reserves of the Central Bank of Iraq are at very comfortable levels, which are the highest in the country's financial history, which are not less than balances (in foreign exchange and gold). ) between 110-115 billion dollars, and at the same time

it constitutes a percentage (coverage) of the cash currency issued (and according to the current exchange rate) by about 130 percent, which is a high and safe coverage.  And he continued,

“Monetary policy, and by virtue of the fact that the Central Bank of Iraq is the government’s financial advisor, and

it is the one who coordinates and consults with the government in accordance with its law to ensure consistency and harmony with the joints of financial policy and other economic policies, any decision taken by the monetary authority in accepting a discount or liquidation of any government debt instruments will be subject to

There is no escape for accurate standard equations in applying monetary policy tools and their operational objectives, within the framework of managing the liquidity of the economy in a balanced manner with macroeconomic indicators, and

in a manner consistent with the independence of the Central Bank of Iraq.

https://www.ina.iq/183644--46-.html

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

https://www.bondladyscorner.com/

Awake in 3D: Visualizing Bank Failures from 2000 to Today

Awake in 3D:

Visualizing USA Bank Failures from 2000 to Today

Taken from FDIC data, this is an impressive graphical representation of bank failures by number of banks and their asset size. 

The number of circles are the number of failed banks. The relative size of each circle represents the bank’s dollar assets (the bigger the circle, the bigger the bank). 

Clearly, many banks failed as a result of the 2008-2012 Great Financial Crisis. Yet, most were relative small banks. 

Looking at today, banks failures so far this year are few but much larger in dollar assets held. 

The bailouts this time around will be massive, and cause more persistent inflation. Which will cause the FED to raise interest rates. Which is what’s causing today’s bank failures to begin with. 

Will First Republic be the next big circle? What a mess. 

It’s such a wonderful Fiat Currency Debt System we have… the time for an alternative GCR grows ever nearer. 

Source: @GCR_RealTimeNews

Many Blessings,

Ai3D

Goldilocks "Iraq is capable of doing foreign currency exchanges internationally." 4-26-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and a link:

Trade Bank of Iraq: External transfers can be made through our branches through the Central Bank

The bank said in its statement received by Al-Mutala: “You can make foreign commercial transfers through the platform of the Central Bank of Iraq to all countries of the world through our bank’s branches through your accounts opened in Iraqi dinars with us and calculated at the official price approved by the Central Bank of Iraq, and economically prohibited countries are excluded from all banking transactions.”

The Trade Bank of Iraq has made a formal announcement.

Their banks can presently conduct foreign trade transactions through the Central Bank of Iraq.

Going forward, Iraq is capable of doing foreign currency exchanges internationally.

© Goldilocks

https://search4dinar.wordpress.com/2023/04/26/trade-bank-of-iraq-external-transfers-can-be-made-through-our-branches-through-the-central-bank/

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Wednesday 4-26-2023

TNT:

Tishwash:  Iraq supports OPEC's approach to selling oil in foreign currencies instead of dollars

The leader of the State of Law Coalition, Jassem Muhammad Jaafar, confirmed Iraq's intention to support OPEC's plans regarding selling oil without dealing in dollars, indicating that this step will support the economies of all oil-exporting countries.

Jaafar said, in a statement to Al-Maalouma, that "OPEC countries are currently heading not to deal in US dollars in oil transactions, and that dealings will take place in any local currency."

 He added, "The international trend to refrain from buying and selling oil in dollars will increase the strength of the oil-exporting countries and put the American weakness to the test."

And he pointed out that "after revealing this trend, the exchange of the US dollar has declined significantly and will cause a great loss for America," noting that "depositing the sums in the American bank for oil sales money is no longer a condition. link

CandyKisses:  Central bank foreign currency sales rise to more than $187 million

Baghdad / Nina / The Central Bank of Iraq's foreign currency sales rose on Wednesday to record about $ 187 million.

According to the table of the currency sale window, the CBE sold during its auction today 187,888,527 dollars, which the bank covered at an exchange rate of 1305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

Most of the sales went from the dollar to boost balances abroad in the form of (remittances, credits) by $ 172,788,527 million, while the remaining $ 15,100,000 went in the form of cash sales. 

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

CandyKisses:  The Finance Committee begins to amend paragraphs and articles in the budget

Baghdad Today - Baghdad

The Parliamentary Finance Committee announced on Wednesday that it is studying the possibility of reducing the budget deficit, while stressing its efforts to make the government's work successful.

During the committee's meeting to discuss the federal budget, committee chairman Atwan al-Atwani said that "the committee has begun meetings to amend paragraphs and articles in the budget according to its constitutional authority," pointing to "the formation of subcommittees in the committee to host executive officials to discuss and study their financial allocations to speed up the process of completing the amendments."

He added that "the committee is studying the possibility of reducing the financial deficit in the budget," calling on "the government to adopt productive advisory projects that contribute to supporting the national economy and enhancing non-oil revenues."

He stressed the need to support the government and empower the private sector, stressing the importance of "working for the success of the government's work."

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

Tishwash:  Economist: The parallel dollar will touch its official rate after the budget is approved

Economic expert Bassem Antoine confirmed today, Wednesday, that the exchange of the US dollar against the Iraqi dinar will touch its official rate after the approval of the budget, while he indicated that the fifth column exploited the dollar file over the past months.

Antoine said in a statement, to Al-Maaloumah Agency, that "the government's and central bank's measures contributed to stopping the process of the dollar's rise, in addition to providing it in the local market through the electronic platform system, and obliging all licensed banks and exchange companies to work accordingly."

He added, "The fifth column team took advantage of the dollar's rise during the last period, as it was rumored that the exchange rate of one hundred US dollars would reach 200,000 Iraqi dinars."

Antoine pointed out, "The government and the Central Bank of Iraq's rapid and deliberate measures, by providing foodstuffs and launching the electronic platform system for selling the dollar, prevented its further rise and contributed to its gradual decline during the past two days."

Today, Wednesday, the exchange rates of the dollar against the dinar witnessed stability at the dollar exchange rates in the local markets in all the country’s governorates, as the selling price reached 141,000 dinars per 100 dollars, while the purchase prices reached 139,000 dinars per 100 dollars, in the capital, Baghdad   link

Mot:  . More insight on Raising the ""Wee Folks"" from Mot of Course!

Mot: .. oooooooooh Deeeeer!!! ~~~

Wednesday Morning Iraq Economic News Highlights 4-26-23

Wednesday Morning Iraq Economic News Highlights 4-26-23

“The Vote Will Not Be Delayed.” Parliamentary Finance Begins Discussing The Budget Today

Money  and business  Economy News _ Baghdad  Today, Wednesday, the Finance Committee in the House of Representatives begins discussing the federal general budget for the years (2023-2024-2025) and works through 3 paths to reduce the deficit rate to 20 percent, and the members of the committee indicated in conversations with “Al-Sabah” that approving the budget will not be long delayed. And they emphasized that the Prime Minister gave the committee great flexibility in order to make amendments in cooperation with the Ministries of Finance and Planning.

A member of the Finance Committee, Mustafa Al-Karawi, said, in an interview with Al-Sabah newspaper, followed by Al-Iqtisad News, that "the committee begins today, Wednesday, its discussions regarding the budget," and indicated that "the committee will go towards reducing operational budgets directly, unnecessary investment, and reducing loans."

He expressed his hope that "such paths will help reduce the budget deficit, which is considered abnormal and could cause future economic problems for the country."

For his part, a member of the Finance Committee, Jamal Cougar, said, "The budget will pass and the vote on it will not be delayed, especially since not all ministers will be hosted. The time period for approving the budget.

He added, "The committee has the power to reduce and transfer, and this is what will be worked on in order to reduce the deficit," explaining that "until now, the matter has not been resolved, as the numbers have not been checked or the concerned authorities have hosted."

 He stressed that "Al-Sudani gave all flexibility to the Finance Committee and expressed his willingness to send the advanced staff in the Ministries of Finance and Planning for the participation of the Finance Committee in its sessions that need them," noting that "the government requested a budget for three years, so there should be a serious scrutiny of all the numbers in the budget to avoid Any mistake, and we should also be keen to reduce the deficit, because all indications say that oil prices will not remain at these numbers and will decline in the coming years.

And he continued, "The government has this rounded year of money and perhaps for the next year as well, and we may not have this rounded in 2025, so we must make accurate calculations for this matter, and for that the committee will add a paragraph that (the government is tasked with sending a budget for the next year with amendments to it." )

Because it is unreasonable for oil prices to change and the budget does not change.” Cougar suggested that the budget would be approved “at the end of next May.”

In turn, a member of Parliament, Salem Al-Anbuge, said: "Many important points are still pending in the 2023 budget, most notably the deficit, which constitutes 33 percent of the budget's volume, which is a large number, but efforts are being made to reduce it to 20 percent in a way that gives more flexibility." Especially since the government made pledges to cover the fiscal deficit and treat it according to specific financial contexts. 

In addition, economist Haitham Al-Husseini said: The committee can squeeze "capital" expenditures in this year's budget.

Al-Husseini told "Al-Sabah": "This type of expenditure includes (maintenance, kerosene, gasoline, furniture and other materials that can be reduced), especially since comparing this year's budget with its previous counterparts shows that there is an increase in the capital budget."

He added, "The budget needs radical solutions to the issue of its preparation due to the presence of a lot of wasted money and accounting errors, as the budget must be restructured to be consistent with the event and the directions of the state. It is not possible to adopt the same budget that I used while I am following a socialist system in which the government has complete control over all joints."

 Today we are heading towards open trade. The economist suggested applying the "unified treasury" system that exists all over the world, "to know how much are the expenditures and revenues, and it is possible to know the financial movement of the amounts that are spent from anywhere in the country.

 Iraq must go beyond the classics in preparing its budgets and achieving the correct financial management system." In a related context, a member of the Legal Committee, Mahmoud Al-Salami, said, in an interview with Al-Sabah:    https://economy-news.net/content.php?id=33807

Jamal Cougar: 4 Remarks That Get In The Way Of The Budget

Baghdad - Iraq today:  The Finance Committee in the House of Representatives revealed that the committee had four observations on the draft budget law.

A member of the Parliamentary Finance Committee, Jamal Cougar, said in a press interview, “There are notes that were written down regarding the budget, including the large deficit in the budget, in addition to submitting a budget for three consecutive years, and this matter was justified by the prime minister earlier.”

And he continued, "As for the third note, it relates to some ministries that must be increased financially at this stage, and not to remain marginalized compared to other ministries that were exclusive to previous budgets."

And he continued, "The fourth observation, caused by the feeling of unfairness in some governorates in terms of financial allocations, and we will make an effort to make financial transfers in the budget to compensate for the existing impalance. LINK

The Stability Of The Dollar Exchange Rates In The Local Markets

Economy  |Baghdad today – Baghdad   Today, Wednesday, the exchange rates of the dollar against the dinar recorded stability in the main stock exchange and local markets in the capital, Baghdad.

The (Baghdad Today) correspondent said, "The exchange rate of the dollar for today, on the stock exchange, reached 140,300 Iraqi dinars for every 100 dollars."

And he added, "The selling price reached 141,000 dinars per 100 dollars, and the purchase price reached 139,000 dinars per 100 dollars in local exchange offices." LINK

One Week Separates The Dollar From Stability At The Parallel Price Of 132 Thousand Dinars

Economy  |Baghdad today - Baghdad    Today, Wednesday, the economic expert, Nabil Al-Tamimi, expected a gradual decrease in the exchange rate of the dollar in the parallel market, reaching 1,320 thousand dinars.

Al-Tamimi told (Baghdad Today) that "the central bank's procedures managed to pass a lot of remittances, leaving only simple things."

He added that "there is no need left for irregular transfers, and therefore the exchange rate of the dollar decreased, and the Iraqi street was convinced that the government would not raise the price of the dollar."

He pointed out that "the price of the dollar at the beginning of the week will settle at 1320 thousand dinars per dollar, and it will be sold in the market to the citizen at 1320 or 1330 as a maximum."

The exchange rates are witnessing a significant decline compared to the previous months, until the exchange rate reached 141,000 dinars compared to 100 dollars, amid expectations that the exchange rate in the local markets would reach the official price set (1320) thousand dinars in the coming days. LINK

Louay Al-Khatib: Maintaining Electricity In Iraq Is One Of The Seventh Impossibilities

Tue, 04-25-2023, Pm 4:41   Tayseer Al-Asadi   Former Minister of Electricity Louay Al-Khatib reviewed, on Tuesday, the main problems afflicting the energy sector in Iraq, stressing that the provision of electric energy will not be without lifting government subsidies and considering it a non-free commodity.

Commenting on the Prime Minister's visit to the Operation and Control Department, Al-Khatib said, "These and other cases that your Excellency reviewed during your recent visit to the Operation and Control Department are individual cases and may be regional, and are not general to the overall performance of the network, and are limited to the performance of the relevant distribution departments, and therefore are Secondary to the crisis of scarcity of equipment and fairness of distribution.

He warned that "the electricity crisis in Iraq is mainly caused by government subsidies on tariffs and fuel, as well as government domination of the electricity sector, and therefore its economic and institutional causes before they are technical."

He continued, "Simply put, the price of energy supply is linked to hard currency and international fuel prices, and therefore it is impossible to sustain energy supply to consumers and meet demand on the basis of government support that drains the treasury of a country with limited imports in light of the population growth in Iraq, which has exceeded the barrier of 2.6% annually.

Meaning." When the pricing is zero or close to it, demand will be unlimited and indefinite, in addition to government support and government domination of this sector in light of a chaotic democratic system that will perpetuate mismanagement and corruption even more.

He pointed out that "the electricity sector recently costs the Iraqi state treasury about $20 billion annually in fuel costs at international prices, maintenance allocations, import and purchase of energy, and expansion of the network (production, transmission and distribution), while the sector is supported by 90% of the state, which is non-refundable.

 Domestic demand is met, no matter how hard governments try, and the sector will remain a loser and a breeding ground for corrupt people who live on government allocations of fuel and financing for government companies that are governed by political and factional quota protocols.

He addressed Al-Sudani, saying, "The solution will not be for you to go to the Operation and Control Department and transfer the requests of some citizens. Rather, the solution lies in your meeting with the heads of parliamentary blocs to explain to them the necessary reform steps in the economic and institutional files for this important sector, which has become costly on the federal budget at a value of 20 billion dollars annually." ,

and another 20 billion dollars annually as a direct loss to the GDP due to the scarcity of equipment for the sectors of industry, commerce and agriculture, and that the issue of canceling subsidies has become necessary and inevitable to avoid the inevitable collapse of the national network in the next few years.

He pointed out that "the decision to cancel the subsidy is a government decision that needs the approval of the Council of Ministers and political support from the ruling blocs in the House of Representatives so that it does not hinder the government's steps, and all of these need tax reforms as well as the inclusion of specific financial allocations for social protection networks so that support is exclusively for beneficiaries from limited-income societal groups."

With the development of a solid and solid plan to privatize the production and distribution sectors gradually and with a time limit set according to international standards, thus financing the electricity sector will shift to attracting giant investments as well as the movement of investors in the stock market so that the sector becomes profitable, and not depending on government support that made it loser, draining the budget and costly output. country's local.

And he stressed the need to "cancel all lines of exceptions in supplying free energy to political parties and their affiliated institutions. As well as developing a tight collection plan for the entire network, especially from slums that exceeded a million slums in Iraq, by force of law, otherwise the supply is cut off centrally for groups that refuse to pay. It must also be imposed." Double fines and severe penalties for anyone found to have violated the national network.

He continued, "I explained these matters in detail during my many meetings in the House of Representatives and its committees in 2019, but the proposals were met with strong opposition from some, due to their collision with the personal interests of many deputies who depend on this sector and its government support in marketing their electoral campaigns, and the mention is sufficient for him."

And he added, "All institutions and media platforms stand against this education because they tend to populist discourse and what is consistent with the desire of society that does not want to pay the real cost of energy, while it sees it as a natural right that must be provided by the government, whatever the demand and regardless of the cost that does not want to be paid." be bound by it.”

He concluded: “Electricity is not a free service for citizens, but rather a commercial commodity, and its cost must be paid by the consumer 100% without any subsidy, otherwise it cannot be provided to consumers. And all the rumored media narratives about providing it to the people by governments in a subsidized manner is pure lies, with the exception of some The very few and limited examples that cannot be compared to Iraq, and they are usually not a rule. https://non14.net/public/156482

The Central Bank Of Iraq Succeeds In Breaking The Back Of The Dollar (Caricature)

Baghdad-Iraq today:  The Central Bank of Iraq succeeds in breaking the back of the dollar (caricature) LINK

https://up6.cc/2023/04/168248165921691.jpg

Iraqi News Highlights Tuesday Evening 4-25-23

Iraqi News Highlights Tuesday Evening 4-25-23

Tlm724 Administrator Bondlady’s Corner

Sudanese: Parliament's Movement Is Weak ... A New Political Map Waiting

 April 23 12:03     Information/private ..The deputy of the State of Law coalition, Muhammad Saadoun Al -Sudani, considered today, Sunday, the performance of the House of Representatives recently "not at the required and regulatory level, among the fact that the Prime Minister, Muhammad Shi'a Al -Sudani, employed and appointed personalities close to him in government institutions.

Al -Sudani said in an interview with the information agency, that "the current government movement at the present time is faster than the House of Representatives movement," noting that "the level of Parliament is not at the level required legislative and regional."

 He added, "The next stage will witness a new political map," noting that "the Prime Minister has entered the local and international political equation, and therefore it will have an affair in the upcoming elections."

On the frequency of the news about the Sudanese, the employment and appointment of personalities close to him in government institutions, Saadoun explained that

"this matter is not valid and free from accuracy," noting that "the primary goal of this fibrosa is to exclude the Sudan clan and its competencies."

A member of the House of Representatives explained that "the current government has proven to be as a challenge and the citizen and changed his state of frustration," noting that

"for the first time the Sudanese government is a reference government of a national political coalition that represents all components."

The spokesman for the parliamentary torque bloc, MP Muhammad Abd Rabbo, had described the performance of the House of Representatives in its current session as "the Ricke" and

the lack of seriousness in offering service files, indicating that  the current parliamentary session is the most embarrassing in the history of Iraq.

' https://almaalomah.me/news/politics/السوداني:-حركة-البرلمان-ضعيفةخارطة-سياسية-جديدة-بالانتظار

Al-Haidari: There Is Governmental And Parliamentary Will To Pass Two Laws Related To Oil And Gas

   April Information / Baghdad ..Member of the Oil and Gas Committee, Representative Alaa Al-Haidari, confirmed, on Monday, that

his committee is in the process of discussing and reviewing a draft law on oil and gas and the National Oil Company, indicating that there is a governmental and parliamentary will at the present time to approve the two laws because they will solve many problems and differences, especially between the center and the region.

Al-Haidari said in a statement to Al-Maalouma that "the oil and gas laws and the National Oil Company are among the most important laws regulating the relationship in the field of production and export and the relationship between the region and the center, but  they were too late due to the lack of political will to approve them."  

He added that "the governmental and parliamentary administration is available today in order to approve the law, and that

the Parliamentary Oil and Gas Committee is preparing to discuss and review the draft legalists," expecting that "the two laws will come to light during the current parliamentary session."  

Al-Haidari pointed out that "the oil and gas law and the law of the National Oil Company have a mutual relationship because they are one complementary to the other," explaining that "the approval of the two laws will solve many problems and differences, especially between the center and the region."

https://almaalomah.me/news/economy/الحيدري:-توفر-الارادة-الحكومية-والبرلمانية-لاقرار-قانونين-يت

Integrity: The Battle Against Corruption Is Crucial, And We Will Not Allow The Corrupt To Escape Accountability

Today 15:17    Information / Baghdad..The head of the Integrity Commission, Haider Hanoun, affirmed, on Tuesday, that the battle of integrity against corruption is crucial and deserves to make huge sacrifices for it, while indicating that the corrupt should not be allowed to escape accountability and punishment.

Hanoun said in a statement received by Al-Maalouma Agency, "The battle of integrity against corruption is a fateful battle that differs from other battles, as it clashes with personal benefits, and deserves great sacrifices for its sake," noting that  "the cadres of the Commission, especially the Investigation Department, represent the spearhead in this battle."".

 And he stressed  "intensifying the efforts of affiliates in the field of combating corruption, preventing it, prosecuting its perpetrators, and preserving public money," stressing

"not courtesy of the corrupt or allowing them to escape accountability and punishment, and emphasizing everyone against whom a judicial ruling has been issued, and not being lenient or pardoning them." 

He pointed to "the importance of consolidating authentic values in the hearts of the people of society and adjudicating conscience;

to create a generation armed with the ethics of integrity and honesty against all values of corruption and behaviors that are inconsistent with the ethics of the public office," explaining that

"the thief of the state's money and the people's power cannot claim virtue, values and good morals, as well To be a patriot or leader of a value project. 

He called on "all political and societal actors to give priority to the interest of Iraq and to reject the corrupt transgressors over public money," noting that

"the Commission is determined to emerge victorious in its battle against corruption, to recover the revenues obtained from it, and to put those involved behind bars." 

He praised  "the increase in the pace of the commission's work, one of its outputs being the implementation of unprecedented qualitative operations during last March that afflicted the corrupt, as (223) operations were carried out, during which (134) accused were arrested," explaining that

"this contributes to restoring the citizen's confidence in the oversight bodies and increases At the level of his cooperation with her in reporting corruption.”

https://almaalomah.me/news/politics/النزاهة:-معركة-الفساد-مصيرية-ولن-نسمح-بإفلات-الفاسدين-من-الم

Al-Fateh: Diversifying Currency Reserves Has Become A National Security Priority

Information / Diyala..  The leader of the Al-Fateh Alliance, Sadiq Jaafar, confirmed, on Tuesday, that the diversification of currency reserves in Iraq has become a priority for national security.

Jaafar said in an interview with "The Information", that "Washington has repeatedly tried to exploit the dollar to put pressure on Iraqi governments in various forms, as it did with other countries, which made confidence in this currency shaken, which turned into a pressure card and punishment used against countries that reject America's hegemony."   

He added, "The recent crisis and the pressure on the markets to seriously rethink the diversification of currency reserves in Iraq, as it has become a national security priority to prevent any future crises," noting that

"resorting to Chinese currencies and other countries has become a necessity in order to break the monopoly of the US dollar." 

He pointed out that  "Iraq's openness to adopting national currencies in its trade with other countries, whether China or neighboring countries, will reduce pressure on state transfers by 40%, according to economists, and this will push the dinar to more stability."

Iraqi political forces have accused Washington in recent months of using the dollar to create a crisis in the markets and raise exchange rates to limits that increased market prices in an unprecedented way.

https://almaalomah.me/news/economy/الفتح:-تنويع-احتياطي-العملات-بات-من-اولويات-الامن-القومي

Al-Sudani: The State Is Required To Pay The Money For The "Theft Of The Century"

April 24 20:07    Information/Baghdad.. The Prime Minister, Muhammad Shia' al-Sudani, affirmed, on Monday, that he would not compliment a leader or party with the cabinet reshuffle, and whoever "wants to refuse, let him refuse," pointing out that the state is required to pay tax secretariats, "the theft of the century."

Al-Sudani said in a televised interview, followed by Al-Maalouma, that "there are names of officials who will be replaced at the appropriate time," noting that

"the state is required to pay tax secretariat money (theft of the century) to companies and contractors."  And he continued:

"There is a tracking of those involved in the theft of the century, and our plans cannot be revealed, and the state is required to pay tax secretariat funds to companies and contractors." Ended 25/j

https://almaalomah-me.translate.goog/news/politics/السوداني:-الدولة-مطالبة-بتسديد-اموال-سرقة-القرن

Sudani Confirms His Insistence On A Cabinet Reshuffle In A Timely Manner

Today  Information / Baghdad..Today, Tuesday, Prime Minister Muhammad Shia Al-Sudani affirmed his insistence on proceeding with the cabinet reshuffle, while indicating that everyone is convinced of the importance of approving the budget.

And the Prime Minister said in a televised interview followed by Al-Maalouma:

"After assuming responsibility, I found files that are idle due to ignorance or bad faith, corruption and lack of vision, and we are forced to work quickly and we do not want to waste time and we are working at an escalating pace to meet the needs and aspirations of the Iraqis." 

He added, "All decisions of the Council of Ministers are implemented, and there is a team that follows up on implementation, and we have nothing but the constitution to organize the political process, despite its defects." 

The Prime Minister added, "The challenge before me is to win the people's trust, and the problem in Iraq is a service, and we did not give loose pledges."

And about the governors, he stressed, "They are the second pillar after the ministers, and after the dissolution of the provincial councils, the governors were left alone in facing service and security problems, and I attached great importance to the work of the governors from the first day of their appointment." 

He stressed, "We hold continuous meetings with the governors after previously stopping them for two years, and they are part of the ministerial program, and the previous governments made a strategic mistake by working with the ministers in isolation from the governors.

Regarding the ministers' evaluation, the prime minister said, "We talk with the ministers clearly and frankly about evaluating their work and the professional evaluation, and the constitution gives the prime minister the power to dismiss the negligent minister, and we are determined to make a cabinet reshuffle and we will choose the appropriate time, and I will not give up my constitutional powers to carry out the ministerial change."

In the file of theft of the century, the Prime Minister said, "400 billion dinars have been recovered, and the government is required to pay the amount of tax theft of 3.7 trillion dinars to companies and contractors." 

He added, "I informed the Integrity Commission and the Oversight Bureau that there are no red lines in combating corruption, and the Integrity Commission was witnessing a major defect and neglecting files."

In the budget file, the Prime Minister said, "We explained to the presidencies and political forces the contents of the three-year budget, and after the Eid holiday, the budget will be discussed in Parliament, and regarding Parliament's intentions to reduce the deficit, we are ready for discussion, and reducing the deficit must not affect spending and cause consequences," pointing out to That "everyone is convinced of the importance of approving the budget."

On foreign relations, the Prime Minister affirmed that "the international community deals with Iraq as a state and has nothing to do with people, and our vision of the form of international relations is based on productive diplomacy." https://almaalomah.me/news/politics/السوداني-يؤكد-اصراره-على-اجراء-تعديل-وزاري-في-الوقت-المناسب

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

https://www.bondladyscorner.com/

Iraqi News Highlights Tuesday Afternoon 4-25-23

Iraqi News Highlights Tuesday Afternoon 4-25-23

Tlm724 Administrator Bondlady’s Corner

Iraq Applies Two Policies To Support The Iraqi Dinar Against Foreign Currencies

Economy| 04:53 - 04/24/2023   Baghdad - Mawazine News,  the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, the implementation of two policies that supported the Iraqi dinar against foreign currencies, while revealing government measures that removed obstacles to foreign trade.

Salih said, "The monetary policy of the Central Bank of Iraq has proven that it has the ability and high flexibility in coordination with the supportive government policies in providing exceptional capabilities to impose stability on prices in general and the exchange rates of the Iraqi dinar against foreign currency in particular, which are related to import prices of goods and services."

He added, "Based on the foregoing, achieving and maintaining stability came through two policies, the first: on the monetary policy side by facilitating external transfer procedures and the official exchange rate upon transfer and restricting dealing in foreign currency through legal channels, procedures and digital banking mechanisms."

And he continued, "These channels and procedures are all characterized by disclosure and high governance across the national and international financial and banking system, in addition to the Iraqi banking system's adaptation to the compliance and audit platform related to foreign transfers of foreign currency in a professional, legal and rapid manner without prejudice to the freedom of external transfer, which is now consistent with the laws."

And the national and international regulatory regulations, which were represented by the three CBI packages.

And he added, "As for the second, it is the general government policies, and it relates to what the Council of Ministers took during the past few period in terms of soft coordination measures in the customs, tax and trade fields in a harmonious syndrome that became more accurate after removing inherited bureaucratic obstacles in the movement of foreign trade, which gave stability and high flexibility in moving the activity."

 Small merchants to exercise their direct role in importing from outside the country by themselves, without the chains of intermediaries and previous monopolistic powers that the market has accumulated with its imbalances over the past forty years. https://www.mawazin.net/Details.aspx?jimare=225298

Sudanese Advisor: Foreign Currency Reserves Are High And At Comfortable Levels

Economy| 01:13 - 04/25/2023  Baghdad - Mawazine News,  the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, that foreign currency reserves are high, safe and at comfortable levels, while he indicated that the value of treasury transfers is currently estimated at about 46 trillion dinars.

Saleh said, “The Central Bank currently holds, through secondary market operations, about 64 percent of the total internal public debt, which are government debt instruments in the form of bonds and treasury transfers (that is, they are government borrowing tools that were deducted by local banks, and they are the primary holder before discounting them with the authority.” cash), as banks, especially government ones, at different periods deducted their interest with the Central Bank and regained their liquidity, and they carry an annual interest ranging between 2-3 percent, and today they have become an integral part of the assets or assets in the balance sheet of the Central Bank of Iraq.

And he added, "The value of treasury transfers in the possession of the monetary authority is estimated at about 46 trillion dinars currently," pointing out that "the foreign currency reserves of the Central Bank of Iraq are at very comfortable levels, which are the highest in the country's financial history,

which are not less than balances (in foreign exchange and gold). ) between 110-115 billion dollars, and at the same time it constitutes a percentage (coverage) of the cash currency issued (and according to the current exchange rate) by about 130 percent, which is a high and safe coverage.

And he continued, “Monetary policy, and by virtue of the fact that the Central Bank of Iraq is the government’s financial advisor, and it is the one who coordinates and consults with the government in accordance with its law to ensure consistency and harmony with the joints of financial policy and other economic policies, any decision taken by the monetary authority in accepting a discount or liquidation of any government debt instruments will be subject to There is no escape for accurate standard equations in applying monetary policy tools and their operational objectives, within the framework of managing the liquidity of the economy in a balanced manner with macroeconomic indicators, and in a manner consistent with the independence of the Central Bank of Iraq.

https://www.mawazin.net/Details.aspx?jimare=225359

Mawazine Publishes The Full Decisions Of The Council Of Ministers

political| 06:01 - 04/25/2023   Baghdad - Mawazine News  publishes / Mawazine News / Today, Tuesday, the full decisions of the Council of Ministers during its regular session, which was held under the chairmanship of Prime Minister Muhammad Shia Al-Sudani.

The media office of the Prime Minister said in a statement, a copy of which was received by Mawazine News, that "Prime Minister Muhammad Shia' al-Sudani chaired the seventeenth regular session of the Council of Ministers, during which the general conditions, service, security and economic issues and files concerned citizens' needs and requirements, as well as following up on strategic plans and the implementation of public service projects.

The statement added, "At the outset of the session, the Prime Minister valued the work of the ministries during the holy month of Ramadan, noting that it was the first month that did not witness a security breach, in addition to the fact that the holy month was marked by the highest number of hours in supplying electric power," noting that "the Sudanese continues."

 The pace of implementation by state institutions and agencies of the government program, stressing the ministries not to hesitate in providing the relevant committees with implementation indicators, so that we can stand on the points of strength and weakness.

He pointed out, "With regard to the Iraqi citizens present in the Republic of Sudan, the Prime Minister directed the competent authorities to make maximum efforts to evacuate our citizens, and to ensure their security as a result of the deteriorating security conditions there."

And he stated, “Within the framework of the Council of Ministers’ follow-up to the development file and the investment plan and ensuring its continuity, the Council of Ministers approved the recommendation of the Ministerial Council for the Economy (230027 s), which stipulates confirming the implementation of the amended Cabinet Resolution (14 of 2022) regarding the validity of work with the powers of the Minister of Planning, the competent minister and the head of the unrelated entity.”

 In the Ministry and the Governor, to implement the projects of the investment plan until the issuance of the Federal General Budget Law and the instructions for facilitating the implementation of its provisions for the year 2023.

And he continued: “In the oil wealth management file, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (23027i) for the year 2023, which provides for extending the validity of a memorandum of understanding between the Ministry of Oil in the Republic of Iraq and the Ministry of Oil in the State of Kuwait, regarding the common border fields for a period of two years, starting from 6 September 2022, until September 6, 2024, taking into account that it is not a reason for requesting additional financial allocations for the Ministry, and that any amendment, supplement or contract resulting from the implementation of this memorandum is presented to the General Secretariat of the Council of Ministers for study and opinion on it before signing it.

The Ministry of Oil should follow up the issue with the concerned authorities to provide a technical study for the joint fields.

He stressed that "the Cabinet approved the recommendation of the Ministerial Council for Energy (23025i) for the year 2023, which includes approving the recommendation of the Central Committee for Review and approval of the referral in the Ministry of Oil, to refer the second phase of the gas drying project, for the Gharraf oil field, to the coalition of Oil Projects Company / Ministry of Oil and the Oil Company.

 Italian (PEG) project, with the amount of the commercial offer submitted, amounting to (320,884,293) dollars, with a period of implementation (35) months, and a guarantee (12) months (as far as the issue relates to financial validity), while he decided to agree to amend the first paragraph of the Cabinet’s decision ( 23070) for the year 2023, regarding the principles of cooperation for the energy program in Iraq, the second phase, to become as follows:

“Approval of the signing of principles of cooperation for the energy program in Iraq, the second phase, between the Ministry of Electricity and Siemens Energy Global Gmbh, specialized in the field of power production stations.” .

And he continued, "As part of the follow-up to the services file, the Council of Ministers approved the continuation of the contract between Babil Governorate and (GCITS Babel Limited), (a consortium of companies) referred to in Cabinet Resolution (242 of 2020), regarding the contract for the large Hilla sewage project / first phase."

He pointed out that "after many years of delay, the Council of Ministers ended the land crisis on which the People's International Stadium was built, by agreeing to allocate the stadium's real estate to the Ministry of Youth and Sports, and the Council also decided to stop all lawsuits filed about the real estate, the subject of the research, including the lawsuit filed by it."

The Real Estate Bank, while the Council approved a proposal to control the sale of distinguished vehicle numbers, in the public auction, prepared by the General Traffic Directorate, as well as the allocation of the property numbered (7/32 / M11), for the benefit of the General Traffic Directorate, so that it can implement the project to establish a production line for traffic signs. In an investment capacity, without legal violations.

And he continued, "The Council of Ministers decided to approve what was stated in the Ministry of Interior's letter, dated March 16, 2023, regarding the national card fees. During the session, the Council considered a number of topics and files presented on its agenda and took the following decisions: First / Approval of the following

1- Allocating the financial amount approved in the table of contributions, according to the memorandum of the Cabinet Affairs and Committees Department, without specifying the names of the priority organizations, as they all constitute financial obligations that Iraq must pay

. Al-Iraqi for Foreign Development, for the purpose of scheduling the amounts owed by Iraq towards Arab or international organizations, or paying them until December 31, 2022.

3- Taking into account the nomination of representatives of the Republic of Iraq, with high qualifications and professional specialization, in Arab and international organizations; In order for them to compete with the candidates of other countries.

4- Coordinating with the Ministry of Foreign Affairs, if the ministry, or an entity not affiliated with a ministry, wants to withdraw from an Arab or international organization.

5- Coordinating with the Ministries of (Foreign Affairs and Finance), in the event of a desire to participate with an Arab or international organization, after obtaining the official approvals from the Ministry or the sectoral authority.

6- The ministry, or the entity not associated with a ministry, can make a transfer from its financial allocations, if it wishes to contribute to a new organization and a financial allocation is not available for it; To pay its financial contributions to the Federal General Budget Law.

7- Recommending to the House of Representatives instructing the parliamentary committees and concerned departments not to reduce the amounts of contributions of ministries and entities not linked to a ministry to Arab and international organizations and to include them fully in the federal budget law.

Second / Approval of the following:

1- Granting a subsequent leave with the power to negotiate and sign a draft agreement, regarding mutual exemption from entry visas, for holders of diplomatic, special, service and public affairs passports, between the government of the Republic of Iraq and the government of the People's Republic of China, to the Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, For signing the aforementioned draft agreement on June 6, 2022, based on the provisions of Article (6) of the Treaty Contract Law No. (35) of 2015.

2- Approving a draft law ratifying an agreement on mutual exemption from entry visas for holders of diplomatic, private, service and public affairs passports, between the government of the Republic of Iraq and the government of the People's Republic of China, signed in Baghdad on June 6, 2022, and referring it to the House of Representatives.

Third: The Ministry of Commerce takes the necessary measures to destroy the quantities of wheat (unfit for human consumption).

Fourth / Approval of the recommendation of the Ministerial Council for Social Services (23019 G), which concerns a proposal by nuclear science expert Dr. (Hamid Muaidy al-Bahli) to distribute the amount of the budget for cleansing Iraq of depleted uranium, amounting to (4,929,000,000) dinars, only four billion, nine hundred and twenty-nine million dinars, to To be distributed among the budgets of the agencies participating in the purification process.

Fifth / The Council of Ministers authorized the competent minister, or the head of an entity not affiliated with a ministry, from among those covered by the Opinion Council Law (9 of 2011), to choose two experts with specialization, who are not employees, to attend the meetings of the Opinion Council, without being members therein, in return for a reward. Financial not more than (500) thousand dinars per session.   https://www.mawazin.net/Details.aspx?jimare=225381

The Dollar Exchange Rates Continue To Decline In The Local Markets Today

Tuesday 25, April 2023 14:29 | Economical Number of readings: 388  Baghdad / NINA / - The exchange rates of the dollar on the local stock exchange decreased today, Tuesday.

The selling price was recorded at 141,000 thousand dinars for one hundred dollars, and the purchase price was 140,000 thousand dinars for one hundred dollars.

In the north, the selling price reached 141,750 thousand dinars per hundred dollars, and the purchase price reached 139,750 thousand dinars per hundred dollars.

In the south, the selling price reached 141,500 thousand dinars for one hundred dollars, and the purchase price was 139,500 thousand dinars for one hundred dollars./End 7

https://ninanews.com/Website/News/Details?Key=1049165

The Increase In Foreign Remittances In The Sales Of The Iraqi Central Auction Today

Posted On2023-04-25 By Sotaliraq   2023-04-25  Foreign remittances in the Central Bank's dollar sales increased significantly at the expense of cash sales in today's auction, Tuesday.

Our correspondent stated that “the Central Bank sold today, during its auction for the sale and purchase of US dollars, 171 million and 508 thousand and 366 dollars, which the bank covered at a basic exchange rate of 1305 dinars per dollar for documentary credits and international settlements for electronic cards and at a price of 1310 dinars per dollar for foreign transfers and at a price of 1310 dinars per dollar.” dollars in cash.

Our correspondent added that most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits), amounting to 164,408,366 dollars, while the remaining 7,100,000 dollars went in the form of cash sales.

Our correspondent indicated that the number of banks that bought cash dollars amounted to 5 banks, while the number of banks that responded to requests for strengthening balances abroad reached 24 banks, while the total number of exchange and mediation companies participating in the auction was 17 companies.    LINK

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

https://www.bondladyscorner.com/

Goldilocks "BRICS, SWIFT News and more" Tuesday 4-26-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted Commentaries and links this morning

Iraq News - Iraq Caught in Middle USD vs BRICS  Will This Affect IQD Investors?

https://youtu.be/MRpZFZ79KlA

“Iraq’s entry into the SWIFT foreign transfer platform list has a positive impact on Iraq, which has led to the stability of the market on the one hand and preventing smuggling on the other.”

Iraq's current listing and implementation of their entry into the Swift System is now underway.

This will keep Iraq's currency secure and deliver more velocity to their National Currency near and far.

This is truly a monumental achievement for Iraq. It is an entrance into the International stage inside a global digital banking system.

© Goldilocks

https://search4dinar.wordpress.com/2023/04/25/economist-iraqs-entry-into-the-swift-platform-led-to-the-stability-of-the-market-and-preventing-currency-smuggling/

~~~~~~~~~~

A great transfer of wealth is underway on the institutional level. Institutional money moves mountains in the global world of finance.

This amount of money is not moved very often. Only in times of transitions in our economy do you see these kinds of moves.

People with money along with banks are consolidating and positioning themselves for a transition. (See articles below)

© Goldilocks

Bloomberg LINK 1
Bloomberg LINK 2
Bloomberg LINK 3

~~~~~~~~~~

"The New Development Bank (NDB) of the BRICS group has begun to offer loans in local currencies."

When a Global World Reserve Currency loses its value as we are currently witnessing, new alliances are formed that establish new values in countries seeking refuge from the fall.

This new alliance being established with the BRICS Nations in the form of loans in a country's own local currencies will establish new credit for those countries who used to utilize the dollar for credit.

It will increase the demand for their own local currencies in the east, and these new lines of credit along with demand will increase their value.

© Goldilocks

https://watcher.guru/news/brics-new-development-bank-now-offers-loans-in-local-currencies-instead-of-us-dollar

~~~~~~~~~~

"Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such payments,” the top official explained."

Oh my, this is going to be very attractive to countries trying to avoid sanctions under our current financial system.

This new movement of money will create money velocity in countries who take their sovereignty back and begin operating with their own local currencies.

New values are forming all over the world. At any moment, these new implemented values will begin to show up in our currencies.

© Goldilocks

https://news.bitcoin.com/russia-launching-payment-system-with-no-restrictions-digital-currencies-to-be-completely-unrestricted/

~~~~~~~~~~

"The Commodity and Futures Trading Commission has sued 14 entities for fraudulently claiming to be registered as futures commission merchants (FCM) and retail foreign exchange dealers (RFED)."

The CFTC is cleaning house of exchange dealers for a reason.

This will enable people to make foreign currency transactions with a piece of mind.

As a group, we have been noticing how our new digital-asset based trading system is formulating security and clarity for our road ahead.

Currency reforms include cleaning the swamp.

© Goldilocks

https://www.leaprate.com/financial-services/charges/cftc-charges-14-fx-dealer-firms-for-fraudulent-registrations-claims/

~~~~~~~~~~

Wealth Managers have gone digital.

Digital Wealth Managers are currently utilizing digital tools with other established financial advisors to create standardized client experiences across all digital devices and platforms.

If you think our banks have not been in transformation this past year and a half, you might want to take another look.

© Goldilocks

https://www.hubbis.com/article/the-rise-of-digital-wealth-management-in-the-growth-markets-of-asean

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps