Iraqi News Highlights and Points to Ponder Tuesday AM 5-28-24

Iraqi News Highlights and Points to Ponder Tuesday AM 5-28-24

{Al-Furat News} Publishes The International Monetary Report On Iraq And Praises Its Financial Reforms

Time: 05/27/2024   {Economic: Al-Furat News} The report issued by the International Monetary Fund mission for the current year 2024 for Article Four consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.

The report, a copy of which was obtained by Al-Furat News, indicated that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.”

He added, "The Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks' mandatory reserve requirements from 15% to 18%. These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an environment A more stable economy.”

The report stressed that "important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks."

The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.” LINK     To view the full report, click here

The Dollar Is Moving Down In The Iraqi Market For The Second Day In A Row

Economy | Baghdad today – Baghdad  Today, Tuesday (May 28, 2024), the exchange rate of the dollar against the dinar recorded a decline on the main stock exchange in the capital, Baghdad .

The "Baghdad Today" correspondent said, "The dollar prices on the Al-Kifah and Al-Harithiya stock exchanges recorded 144,800 dinars for every 100 dollars."

He added, "Selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 145,750 dinars, while the purchasing price reached 143,750 dinars for every 100 dollars."

Below is the price of the dollar on the stock exchanges of six governorates: -

Erbil 144,700 offers

Basra 144,850 views

Najaf 144,800 views

Mosul 144,700 views

Kirkuk 144,600 views

Sulaymaniyah 144,600 views LINK

Dollar Prices Decline As Markets Await Important Inflation Data

Economy |Baghdad today - follow-up  Dollar prices fell during trading today, Tuesday (May 28, 2024), after a slight increase in dealers’ desire before the release of important inflation data from major economies this week .

Currency movements were largely weak in the first hours of trading in Asia after a quiet session last night due to holidays in Britain and the United States, but the general mood was positive with the rise of global stocks .

The euro rose to $1.0860 despite some cautious comments from European Central Bank policymakers on Monday and data showing a decline in German business confidence in May .

The markets are awaiting the German inflation data scheduled to be released tomorrow, Wednesday, and the broader euro zone data on Friday, to confirm the expected cut in interest rates by the European Central Bank next week, as well as to obtain indications of how quickly the bank can make a subsequent cut decision .

The British pound settled near its highest level in more than two months and reached $1.2774 in the latest trading, while the New Zealand dollar rose about 0.1 percent to $0.6155, which is its strongest level since mid-March .

The Australian dollar rose 0.03 percent to 0.6657 US dollars .

Markets are mainly focused on the US Core Personal Consumption Expenditures Price Index report, which is the Federal Reserve's preferred measure of inflation, and is expected to remain unchanged on a monthly basis .

US interest rate expectations have been the main driver of the currency over the past few years, and the latest inflation reports from the world's largest economy have been characterized by volatility, which has weakened policymakers' confidence in the pace and size of interest rate cuts expected this year .

Against a basket of major currencies, the dollar index fell 0.01 percent to 104.55 points .

The yen fell to near the level of 157 to the dollar, and in the latest trading reached 156.87 to the dollar, after the Japanese currency was heading towards achieving its first monthly gain for the year 2024 .

As for cryptocurrencies, Bitcoin fell 0.47 percent to $69,255, while the price of Ethereum fell 0.2 percent to $3,882.20.   Source: Agencies   LINK

The Budget Enters The Circle Of Complexity And There Is A Possibility That It Will Be Returned To The Government

Special Sumerian  05-27-2024  88 views  Due to the reduction in allocations to the governorates, the budget enters a circle of complexity and there is a possibility that it will be returned to the government

Many expect that it will be difficult to pass the budget schedules if the governorates’ allocations remain low and as came from the government. On the other hand, the Finance Committee is working to find a balanced formula for its schedules before approving them.  LINK 

The Framework Falls Into The Trap Of The Tripartite Budget: We Will Not Vote On The 2024 Schedules Before The Amendment

Posted On05-28-2024 By Sotaliraq   Baghdad/ Tamim Al-Hassan

Muhammad Al-Sudani, Prime Minister, embarrasses the Shiite political forces due to the reduction in governorate allocations that appeared in the new 2024 budget tables. The amounts decreased to 60 and 70% in all governorates from the 2023 budget, with the exception of Baghdad, while these forces were waiting for additional funds to support their popularity there.

Some Shiite parties within the coordination framework appear to “regret” accepting the draft tripartite budget, which was passed last year, and they had warned against it at the time.

The conflict over allocations escalated, which resulted in the search for early electoral gains, leading to Basra threatening to declare the region, and a parliamentary committee refusing to vote on the schedules.

Last week, Sudanese announced in a press conference the details of the budget schedules, which amounted to more than 210 trillion dinars, with a deficit exceeding 63 trillion dinars.

Leaks said that the deficit could have been more than that, but the Prime Minister tried greatly to pressure expenditures.

These leaks indicated that Sudanese prevented an increase in the new budget of at least 20 trillion, which was part of a plan by political leaders in support of the new conservatives.

Expenditures in the new budget tables, which are part of the tripartite budget, increased by about 12 trillion dinars over last year (it was more than 198 trillion dinars). Al-Sudani said in the press conference, “There are no justifications for increasing the allocations, as they are already high, and we must make better use of these funds.”

Meanwhile, a political advisor to one of the parties told Al-Mada: “Some parties in the coordination framework said that they have now confirmed their previous fears of passing the tripartite budget due to the reduction in allocations to the governorates.”

In the budget table leaked by some representatives, a reduction of up to about 70% appears in some governorates compared to last year’s budget, which was happening in Basra and Dhi Qar.

The advisor, who requested that his name not be published, notes that “those parties were hesitant to approve the draft tripartite budget because they would not be able to pressure the Prime Minister on most of the items.”

Last year, Parliament gave the government the green light for the first time to draw up a budget for the next three years, while requiring only that it approve the sum schedules for each year.

The State of Law, led by Nouri al-Maliki, was the most skeptical about Sudanese intentions behind the new project, according to MPs’ statements.

According to what was circulated at the time, the Shiite forces imposed a ban on the Prime Minister from participating in the local elections that took place at the end of last year, to ensure that the funds were not exploited for electoral propaganda.

Provincial test

This new budget came for the first time after local elections that stopped for 10 years, while the political forces are subjected to a harsh test in the extent of their success in managing these cities.

The budget tables show a decrease in allocations in Basra from more than 2 trillion and 800 billion dinars in 2023 to more than 850 billion dinars in 2024. As a result, members of the Provincial Council threatened to declare Basra a region, a proposal that was rejected by most of the Shiite forces in Basra.

Samir al-Maliki, an activist in the city and one of the supporters of the Basra region, told Al-Mada: “The political parties were refusing to support us, and now, when their interests have been harmed, they have returned to threatening the region.”

Al-Maliki calls on the local authorities in Basra, if they are serious about their demand for the region, to immediately begin conducting a population census for the province.

Parties, most notably Al-Dawa, had previously thwarted attempts to declare Basra a region, and accused supporters of federalism in the south of seeking to tear the country apart.

Representatives from Basra, including Mustafa Sanad, who is close to Al-Attar, criticized the granting of larger allocations to the Kurdistan region.

But the Ministry of Planning denied this information in a previous statement. She said that the total allocations to the governorates are 41 trillion dinars for investment, including 4 trillion dinars only for the Kurdistan region, and 38 trillion for the rest of the governorates.

She added, “The comparison between regional development allocations to the governorates and the total investment spending of the Kurdistan region is incorrect.”

The Ministry of Planning has been criticized for the funds allocated to the ministry.

Nabil Al-Marsoumi, a professor of economics in Basra, said in a post on Facebook, “One of the strange things in the 2024 budget is that the investment allocations to the Ministry of Planning amount to 1.855 trillion dinars, even though the ministry does not have large investment projects to implement.”

The strangest thing is, Al-Marsoumi added, “The investment allocations to the Ministry of Planning in the 2023 budget were 7 trillion dinars, of which only 24 billion dinars were spent in 2024, with an implementation rate of only 1%.”

In another series of publications, the professor of economics at Al-Maqal University in Basra revealed that 7 ministries had a “zero” implementation rate in last year’s budget, namely: Foreign Affairs, Defence, Labor, Planning, Agriculture, Environment, and Immigration. He explained that the implementation rate of the Ministry of Communications was 1%, Commerce 2%, and Culture 4%.

At the governorate level, Diwaniyah was the lowest at 5%, then Babil 17%, Maysan 18%, then Diyala 20%, then Muthanna 24%, Karbala 27%, then Basra 36%, while the highest implementation rate was in Nineveh 62%. Al-Marsoumi said that these numbers mean that “the implementation rates in the governorates are much better than the ministries, which eliminates one of the justifications for reducing investment allocations to the governorates.”

In Parliament..

A representative in the State of Law and in the Legal Committee confirmed that the budget tables included fundamental changes outside the context, indicating that they were not voted on in this way.

Representative Raed Al-Maliki said in a press conference that “the tripartite general budget law does not require a new vote from the House of Representatives, which means that the schedules should be identical and in agreement with what was included in the budget law and do not include new amendments.”

But he added, "The schedules sent to the House of Representatives included fundamental amendments to the provisions of the general budget regarding revenues and expenditures."

He continued, “There are changes, including reducing the allocations to some governorates, and others increasing the region’s allocations, which may include introducing amounts for contracts for oil companies in the Kurdistan region, and these were not included in the tripartite general budget law.”

He stated, “This matter requires proceeding with the context of amending the general budget law, that is, subjecting it to the first and second readings and then voting on it.”

He added, “In light of this, we express our objection to reducing the governorates’ allocations in the budget, and we will have a position on that, and we will not vote on the budget if it continues in this manner.”

With the same threat, Moin Al-Kazemi, a member of the Finance Committee and a leader in the Badr Organization, said that “they will not vote on the tables in this way without amendment.”

There are 12 days remaining until the supposed deadline announced by the Chairman of the Finance Committee, Atwan Al-Atwani, to finish discussing the schedules within the committee and then vote on them in Parliament, which he said “will not exceed the 9th of next June.”

In the same context, Mustafa Al-Karaawi, a member of the Finance Committee, expects in contact with (Al-Mada) that “the committee will finish the details of the budget schedule during the last extension of Parliament’s work.”

Al-Karaawi says, “Our work includes providing a technical vision for these schedules, and preventing any political deals behind granting some allocations.”

The member of the Finance Committee indicated that the meeting was held with the Ministries of Planning and Finance to find out “the reason for the increase in spending and deficit and the reduction of allocations to the governorates,” indicating that “our authority is to reduce the amounts and transfers.”   LINK

Goldilocks' Comments and Global Economic News Monday Evening 5-27-24

Goldilocks' Comments and Global Economic News Monday Evening 5-27-24

Good Evening Dinar Recaps,

Cognitive Computing Market is Going to Boom | Microsoft, IBM, | OpenPR

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Russia and China insist on a new "multipolar" world order |  Atalayar

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US Government Pays $514,000,000,000 in Interest on National Debt in Seven Months, Surpassing Defense and Medicare Costs: Report - The Daily Hodl

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OVHcloud Adds Qiskit To Market Leading Quantum Notebooks Portfolio |  TheQuantumInsider

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China Sells $48,900,000,000 in US Treasuries in One Quarter, Analyst Says 'Clear Intention' To Dump US Dollar Holdings on Display - The Daily Hodl

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BRICS: China sold off US Treasury bonds worth 74 billion USD in 7 months | US 2024 |  Aliteq

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US Treasury Secretary Yellen Warns of Challenges in Controlling Deficits and Interest Expense – News Bytes Bitcoin News

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Zimbabwe Authorities Mix Charm With Force In An Attempt To Shore Up The World’s Newest Currency

Zimbabwe Authorities Mix Charm With Force In An Attempt To Shore Up The World’s Newest Currency

FARAI MUTSAKA   Sun, May 26, 2024

HARARE, Zimbabwe (AP) — The introduction of the world's newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold.

The catchy tune, titled “Zig Mari,” received generous play on state television and radio. The musician, Ras Caleb, received a car and $2,000 — ironically paid in greenbacks, not the new ZiGs — from a businessman with close ties to Zimbabwe's ruling party and President Emmerson Mnangagwa; he said he wanted to reward an act he considered “patriotic.”

Although money typically doesn't require publicity, Zimbabwe's sixth national currency in 15 years needs all the help it can get.

Desperate to halt a money crisis underlining the country’s economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been battered by depreciation and often outright rejection by people unwilling to put their faith in it.

Senior officials from the Reserve Bank of Zimbabwe and the ruling ZANU-PF party embarked on a flurry of public rallies and meetings to encourage the skeptical population to now embrace the ZiG ahead of the U.S. dollar — also legal tender in the southern African nation. Commercial jingles heralding the currency flooded the airwaves along with Caleb's single.

Yet despite the charm offensive, the ZiG is facing a familiar problem: public mistrust and structural barriers that have people still clamoring for U.S. dollars. Although the ZiG has largely held its value on the official market, it has tumbled on the black market, where $1 can be exchanged for up to 17 ZiGs.

Law enforcement agents have arrested more than 200 street currency dealers on allegations of flouting foreign currency exchange regulations, national police spokesman Paul Nyathi said. The government accuses them of undermining and devaluing the new currency by using exchange rates higher than the official one.

Twin brothers Tapiwa and Justice Nyamadzawo, 24, were arrested two weeks after the launch of the new currency after allegedly selling undercover detectives cellphone airtime worth $10 at a rate of 15 ZiGs per dollar, according to court papers. The official exchange rate was just over 13 ZiGs per dollar. Like other currency traders, the twins were denied bail and remain in pretrial detention on charges that carry a maximum prison term of 10 years.

The crackdown is incongruous, because Zimbabwe has a long history of street currency dealers whose unofficial rates often carry the day. Many shops and merchants also ignore the official rate and only accept the local currency at their own rates. And many vendors, particularly in the unlicensed sector that employs more than 80% of adult Zimbabweans, still only accept the dollar.

What's more, the government has allowed some businesses, such as gas stations, to refuse to accept the ZiG in favor of U.S. dollars. Some departments, like the office that issues and renews passports, also accept only greenbacks. Many others still list their fees in U.S. dollars, although they accept the equivalent in local currency.

The government has announced fines up to 200,000 ZiG or about $15,000, for businesses that fail to stick to the official exchange rate. Authorities have also frozen bank accounts of some businesses on accusations of rejecting the new currency or trading using exchange rates higher than the official rate. The Reserve Bank didn't name the affected businesses.

Zimbabwe has a long and tumultuous history of monetary instability. The ZiG is the sixth currency used following the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world’s worst currency crashes.

The government printed a 100-trillion Zimbabwe dollar banknote to keep up with spiraling prices that saw a loaf of bread going for more than 500 million Zimbabwe dollars.

To Read More:

https://news.yahoo.com/news/finance/news/zimbabwe-authorities-mix-charm-force-052549339.html

Iraq Economic News and Points To Ponder Monday Evening 5-27-24

Iraq Economic News and Points To Ponder Monday Evening  5-27-24

A Positive Report From The World Bank On Iraq's Monetary Policy

Economy |  05/27/2024  Baghdad - Mawazine News  The report issued by the International Monetary Fund mission for the current year 2024 for Article Four consultations, today, Monday, praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.

The report indicated, according to a statement issued by the Central Bank and received by “Mawazine News,” that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation,” adding that “the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5%.” % and increasing banks’ mandatory reserve requirements from 15% to 18%.

These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.

The report stressed that “important reforms in the banking sector such as gradually increasing In bank capital and mergers between small banks aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”

The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”

https://www.mawazin.net/Details.aspx?jimare=248722

The Minister Of Finance Confirms The Government's Commitment To Implementing The Financial Management Law

Economy   Monday, May 27, 2024 3:54 PM  The Minister of Finance confirms the government's commitment to implementing the Financial Management Law    https://nnciraq.com/256545/

The Iraqi Central Bank Sells More Than $275 Million During Today's Auction

Economy News – Baghdad  The Central Bank of Iraq announced, on Monday, its sales of hard currency, amounting to more than 276 million dollars in today’s transactions, according to the official rate of 1310.

The bank's data showed that the total internal cash withdrawals amounted to $25,100,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $251,787,116, while the total sale amounted to $276,887,116.

Views 80 05/27/2024 - https://economy-news.net/content.php?id=43768

Iraq Is Close To Opening The First Factory To Produce Naval And Military Boats

Money and business   Economy News – Baghdad  During the current year, the Military Industries Development Company will open the first factory of its kind in the country to produce military naval boats, revealing that it has concluded pre-manufacturing contracts with the leadership of the Naval Force.

The company’s general manager, Ali Mohsen Khudair, said in a statement followed by Al-Ahed News Agency, “The authority, as part of its plans to develop the military industry in the country in cooperation with international companies, will open during the current year the first factory of its kind for the production of military naval boats, and it will also specialize in rehabilitating and maintaining ships.” River and marine vessels.

He added, "The factory, which was equipped with the latest advanced devices and equipment, and is currently in operation, is located within the site of the (Uqba bin Nafi) facility in the Yusufiyah region, noting that the production of boats of various types was carried out before 2003 within the Dhat Al-Sawari Company affiliated with the Ministry of Industry and Minerals." However, it was not at the required level.”

Khudair revealed that “the Authority had concluded prior contracts with the leadership of the Iraqi Naval Force to equip it with naval boats with specific specifications, which reflects the success of the economic feasibility achieved previously, which focused on the factory’s production of boats of various types, in accordance with the requirements and specifications of the beneficiary in the security services of the maritime police.” And the river.”

He pointed out that "the manufactured boats are characterized by being fast interceptors, designed according to international specifications, operating with high efficiency in various marine conditions, and also enjoying high stability."

The company director confirmed, “The Authority intends to develop the work of the fleet of boats and military naval boats of various types, which will contribute to supporting the country’s economy as well as creating great job opportunities for the workforce:.  201 views  Added 05/27/2024 - https://economy-news.net/content.php?id=43765

Decrease In Dollar Exchange Rates In Baghdad And The Provinces

Economy |  05/27/2024  Baghdad - Mawazine News  Today, Monday, the dollar exchange rates recorded a decrease in the local markets in Baghdad and the governorates.  Below is a list of exchange rates: 

Baghdad 145,000   Erbil 144,925   Basra 145,000   Najaf 145,000   Mosul 145,000   Kirkuk 144,950   Sulaymaniyah 144,850   https://www.mawazin.net/Details.aspx?jimare=248730

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Money

Never ask of money spent Where the spender thinks it went. Nobody was ever meant To remember or invent What he did with every cent.  - Robert Frost

The almighty dollar, that great object of universal devotion throughout our land, seems to have no genuine devotees in these peculiar villages.  - Washington Irving

Jesus went into the temple... overthrew the tables of the money changers, and the seats of them that sold doves.  - Bible

When I had money everyone called me brother.  - Polish proverb

Take care of the pence, and the pounds will take care of themselves.  - William Lowndes

Ah, take the Cash, and let the Credit go, Nor heed the rumble of a distant Drum!  - Omar Khayyam

When money speaks the truth is silent.  - Russian proverb

Money is not required to buy one necessity of the soul.  - Henry David Thoreau

Not greedy of filthy lucre.  - Bible 

The love of money is the root of all evil.  - Bible

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Goldilocks' Comments and Global Economic News Monday Afternoon 5-27-24

Goldilocks' Comments and Global Economic News Monday Afternoon 5-27-24

Good evening Dinar Recaps,

I will be taking the day off Monday to spend time with my family and friends for Memorial Day.

I expect to return Tuesday morning with more information on where we are in the transition of our economy.

© Goldilocks

504,339 views  May 25, 2016  Memorial Day Tribute

The Oasis Christian Church video honoring the fallen hero's of war. Freedom came at a high price and we want to say thank you to all the men and women of our armed forces. https://youtu.be/i-ZCvBct6lA?si=zrgCtIFgSAVwW0Bn

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Tomorrow, MICA (Global Regulations) are done. Then, we begin the process of implementing the QFS. It will not be done in one day, but the process begins.

© Goldilocks

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“Tidbits From TNT” Monday 5-27-2024

TNT:

Tishwash:  We are not Qashmars.” Parliamentary Finance reveals a surprise about the 2024 budget and reveals what is hidden

A member of the Parliamentary Finance Committee, Mustafa Jabbar Sanad, revealed that stopping disbursement in the 2024 budget is due to the lack of cash liquidity, as there is a need for 17 trillion per month, while all revenues do not reach the limits of 10 trillion, so the problem is the lack of money whether it is Vote on the budget in the House of Representatives or not.

Sanad said in a voice print seen  that “the budget tables, whether voted on by the House of Representatives or not, will not stop the budget, as the tripartite budget came to treat the annual budget, knowing that the annual budget has no problem if it comes.”

The annual budget has ended and the year after which the Operational Financial Management Law is implemented, 1/12 is spent, and investment is spent on completed work sectors, that is, when the contractor completes his work, he receives his money even if he exceeds the governorate’s allocations for the previous year, and this was implemented in 2022, and the Minister of Planning had an important role in it. Crafting this story.”

The representative explained, “The tripartite budget is approved schedules, but it is not permissible and there is no justification for stopping disbursement, and stopping disbursement is due to the lack of cash liquidity, as the 2023 budget was 206 trillion, and it was exceeded by 8 trillion, and revenues are approximately 130 to 140 trillion.” Per year, therefore, according to the 2024 budget, there is a need for 17 trillion to be spent per month.

 Where are these amounts obtained from?

At a time when oil revenues are 8 to 9 trillion, and there are licensing expenses that are obtained in addition to the revenues that come from taxes, customs, and others. There are also 400 thousand barrels from the region, and all of these will not reach 10 trillion per month, so the problem is the lack of money whether the budget is voted on in the House of Representatives or not.”

A member of the Finance Committee pointed out that “the 2023 budget was voted on, but the governorates were funded with only 30 percent of their entitlements, and the same is true with the ministries and investment. This is all a clear game, and we (are not Qashmars), but rather understand state affairs.”  link

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Tishwash:  A government advisor reveals a plan to reduce the budget deficit

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the variables of the financial tables for the 2024 budget are consistent with the constants of the tripartite budget, and while he indicated that the pattern of spending will contribute to reducing the deficit, he pointed to the presence of high discipline in maximizing non-oil revenues.

He pointed out that "oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a positive change rate of more than 16 percent above the approved price, and we are approaching the middle of the fiscal year while maintaining the export rates approved in the budget and managing oil production efficiently and in accordance with... International agreements with OPEC on the issue of controlling production quotas.”

He added, "There is high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in tax and customs estimation, estimation, and collection."

He pointed out, “Seeking to impose discipline on operational expenditures and keeping spending on them within acceptable minimum limits, in addition to being keen to raise the efficiency of investment spending and operating all approved projects, in order to ensure a high growth rate in the gross domestic product at a rate exceeding twice the population growth rate, by launching a movement New projects without delay or stop. 

Saleh stressed that “the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the acceptable international standard ratio for financing the deficit, which is.” 3 percent of the country's total gross domestic product. link

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Tishwash:  With three explosive devices... targeting the KFC restaurant in Al-Jadriya

A security source reported today, Monday, that the KFC restaurant in central Baghdad was subjected to an armed attack.

The source told Mawazine News, "The KFC restaurant in Baghdad was completely damaged after it was subjected to an armed attack with three explosive devices."

It is noteworthy that the restaurant had previously received repeated threats and witnessed popular demonstrations in front of its building due to the ongoing war in Gaza.

 Iraqi security forces on Sunday announced the arrest of two gunmen who targeted a branch of popular fast food restaurant KFC in Baghdad by throwing a homemade “explosive device” at the front door. 

A KFC restaurant branch in Baghdad’s Palestine Street was targeted on Saturday night by two suspects on a motorcycle who “threw a homemade explosive device,” Baghdad Operations Command said in a statement. 

“After following the surveillance cameras and tracking down the perpetrators, their identities were revealed and they were caught and arrested,” the statement said, adding that their pistols were also confiscated. 

The attack resulted in material damage to the entrance of the restaurant. 

A world-renowned American fried chicken chain, KFC is among a number of Western brands that have been subject to boycott calls over their alleged links to Israel, with boycotts in the Muslim world particularly slashing the earnings of many popular chains including McDonald’s and Starbucks. 

The boycotts are in response to Israel’s deadly military campaign against the Gaza Strip which has killed over 35,700, according to the Palestinian health ministry. Israel’s campaign was in retaliation to a large-scale incursion into southern Israel by Palestinian Hamas militants based in Gaza, which killed over 1,170. 

Iraq is a staunch supporter of the Palestinian cause and has on several occasions condemned the lack of global support for justice for Palestinians. 

KFC also has several branches in the Kurdistan Region’s capital of Erbil, and an additional branch in Duhok city. link

Mot: .... Soooo What Can You Build with 100,000 Legos!!!???

Mot:  ................ every weekend 

Iraq Economic News and Points To Ponder Monday Afternoon 5-27-24

Iraq Economic News and Points To Ponder Monday Afternoon  5-27-24

After The Central Bank Denied And Confirmed That It Is Not Printing Them For The Time Being... Revealing The Truth About The New Currencies

Sunday 26 May 2024 23:25 | Economical Number of readings: 394  Baghdad / NINA / Today, Sunday, community circles were busy with what was reported on social media sites and platforms about the efforts of the Central Bank of Iraq to issue a new currency of 100,000 Iraqi dinars and pump it into the local market, before the Central Bank quickly denied those rumors and emphasized that there was no... There are intentions to print a new currency at the present time.

The origin of the incident, which was circulated on social media sites and platforms, goes back to artistic paintings drawn by students of the Institute of Fine Arts in the city of Mosul, which included designs for coins marked with images of the late Iraqi-born international architect Zaha Hadid and the Abbasid Caliph Harun al-Rashid, as part of the requirements for the graduation project, but the matter went beyond The scope of control quickly expanded beyond that, after pictures of the painted paintings were published and circulated as a model for the new currency that will be printed soon.

This comes as the Central Bank of Iraq denied issuing a new currency in the denomination of (100) thousand dinars, despite what was circulated on social media sites about a picture of a new banknote that is a “fake” picture bearing the image of the late Iraqi architect Zaha Hadid.

The bank called on citizens to be careful and not deal with it if some offer it for the purpose of fraud, stressing that there are no intentions to print a new currency at the present time, stressing that it will take legal measures against violators and promoters of this counterfeit currency./End 5

https://ninanews.com/Website/News/Details?key=1128939

International Praise For The Efforts Of The Iraqi Central Bank: Controlling Inflation And Strengthening The Banking Sector

Economy News – Baghdad  The International Monetary Fund praised the actions of the Iraqi government led by the Central Bank of Iraq, indicating that it had taken several measures aimed at stabilizing the national currency and controlling monetary inflation.

The Central Bank media stated, in a statement received by Al-Eqtisad News, that it “raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that are affecting the economy.” Iraq suffered from it, and this contributed to creating a more stable economic environment.”

The report stressed that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”

The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”

116 views  Added 05/27/2024 - https://economy-news.net/content.php?id=43771

The International Monetary Fund Praises The Monetary Policy Of The Central Bank Of Iraq

Economy   Monday, May 27, 2024 2:55 PM  Baghdad/National News Center   On Monday, the International Monetary Fund praised the monetary policy of the Central Bank of Iraq.

According to the report issued by the International Monetary Fund mission for the current year 2024 for Article 4 consultations, the Iraqi government’s measures will be more severe, including the monetary policy led by the Central Bank of Iraq.

The report indicated that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.” It added that “the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks’ mandatory reserve requirements from 15% to 18%.” %, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.”

The report emphasized that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”

The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”

https://nnciraq.com/256541/

Sudanese Advisor: Oil Prices Are Still Higher Than Their Budget Estimates And We Are Trying To Keep Spending To The Minimum

Time: 05/27/2024 Read: 1,404 times  {Economic: Al-Furat News} A financial advisor to Prime Minister Muhammad Shiaa Al-Sudani revealed features of the financial budget schedules for the year 2024.

Mazhar Muhammad Saleh told {Al-Furat News} agency, “The announcement of the variables in the financial tables for the past year 2024 was undoubtedly in conformity with the constants adopted by Law No. 13 of 2023, the Federal (Tripartite) General Budget Law, specifically in the axis of the hypothetical deficit amounting to approximately 64 trillion dinars, and did not stray far.” Estimates of the budget tables in the planned deficit paragraph, as stated in the law above.”

He added, "Despite the above, there are important trends in the management of the public budget, whether on the side of public expenditures, in which the spending ceiling reached 211 trillion dinars, or the revenues and deficit itself, and they are summarized as follows:

1- Oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a percentage change." Positively exceeding 16% above the approved price above, as we approach the middle of the fiscal year, while maintaining the export rates approved in the budget and managing oil production efficiently and in accordance with international agreements with OPEC regarding the issue of controlling production quotas.

2- There is high discipline in Maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in tax and customs assessment, estimation, and collection.

3- Striving to impose discipline on operational expenditures and keeping spending on them within acceptable minimum levels.

4- Ensuring to raise the efficiency of investment spending and operating all approved projects. This is to ensure a high growth rate in the gross domestic product, at a rate more than twice the population growth rate, by launching the movement of new projects without delay or stop.

Saleh noted that “the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the accepted international standard percentage for financing the deficit, which amounts to 3%.” “of the country’s total gross domestic product or slightly exceeding it.”

He pointed out "not to forget that the efficiency of annual spending in the operational and investment aspects is an important issue in determining the total annual public spending as planned."  LINK

Iraq Is Turning To Digital Banks.. What Does It Offer To The Banking Sector?

Economy News – Baghdad  The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask.

Financial expert Ziad Al-Hashimi says, “Online banks, also known as digital banks or neo-banks, are banking financial institutions that operate completely and exclusively over the Internet, and unlike traditional banks, where digital banks usually do not have physical branches.” In cities, they rely on providing their services on the website and mobile phone applications, and the banking services that citizens, merchants, and institutions need can be provided through phone applications.”

He continues, “The most important advantages of digital banks are the ease of opening an account, accessing and managing the balance, lower fees and costs, and having diverse and distinct services (such as budget applications, spending plans, and flexible integration) and other advantages. Because of these advantages, digital banks have begun to spread in many countries in Europe.” And the Americas and Asia, and among these banks - Chase bank - Monzo - Revolut - Starling - Tide and other digital banks.”

Al-Hashemi explains, “The issue of the success and expansion of this type of bank is linked to the state of the economic environment and the nature of society, as these banks often rely on non-cash electronic operations that are active in an advanced banking system, and a society that tends to use cards instead of cash in its transactions.”

The financial expert calls on the Central Bank of Iraq to “wait a little in granting licenses to digital banks, evaluate all these risks and challenges, and search for new timings to launch this type of banks. They must be aware of the availability of favorable conditions and the presence of high chances of success, instead of haste and adventure, as this is a recipe.” "Ready to fail."

The establishment of any digital bank, inside Iraq, requires that about 30% of its shares belong to a traditional bank, and the services should be published via the Internet and mobile phone applications, and there should not be any branch, but only the general administration, and all services via the Internet, such as issuing a bank card and financial transfers. Deposits, loans, etc.

Iraq owns more than 70 banks, many of which were subjected to US sanctions, while the financial inclusion rate reaches a low level due to weak confidence between the banking sector and citizens as a result of the bankruptcy of some of them.

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, had previously confirmed, on the sidelines of a celebration organized by the bank, that the steps achieved in financial inclusion that were accomplished today are accelerating and can close the gap that occurred during the past years as a result of the circumstances that Iraq went through.

Al-Alaq stated that the bank has ongoing meetings with the Iraqi government to expand the customer base in electronic payment methods and enhance financial inclusion, “as we see a great response from various state institutions in the context of expanding the financial and banking culture in Iraq.”

Al-Alaq said, “The factors that lead to the success and expansion of the role of financial inclusion are the citizen’s confidence in the institutions and tools available to him, as well as his vision of his interest in using them.”

He continued, "The Central Bank has become at the forefront of global central banks by using various financial technologies that provide speed and accuracy," revealing at the same time that "the bank has received large numbers of applications to establish digital banks. The concerned departments are working on the possibility of granting it a license to carry out its work in accordance with the controls and instructions issued." By the bank.

For his part, financial expert Mahmoud Dagher believes in a press interview followed by Al-Iqtisad News that “digital banks are natural banks, just like traditional banks, but they operate through applications and do not have face-to-face interactions.”

According to Dagher, digital banks can perform their work as an independent digital bank or even as classic banks, pointing out that the young generation has now become knowledgeable in using financial technology for withdrawal, transfer, etc.

Today, Iraq has one digital bank, while many applications are waiting for the green light from the Central Bank of Iraq to grant them a license to carry out their work in accordance with the controls and instructions issued by it.

According to the Central Bank of Iraq, licensing requirements to practice digital banking activity include that digital bank licenses in Iraq do not exceed (10%) of the total licensed banks, in addition to the presence of an economic feasibility study that includes business plans, strategies, and financial indicators for 4 years, including the technical aspect and services. scheduled to be launched.

It is noteworthy that these digital banks are subject to all laws, regulations and instructions issued by the Central Bank, including the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015.

170 views  Added 05/27/2024 - https://economy-news.net/content.php?id=43770

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Money

Another good thing about being poor is that when you are seventy your children will not have you declared legally insane in order to gain control of your estate.  - Woody Allen

Money makes the man.  - Aristodemus

 fool and his money are soon parted.  - George Buchanan

Penny wise, pound foolish.  - Henry Burton

Wine maketh merry: but money answereth all things.  - Bible

If you would know the value of money, go and try to borrow some.  - Benjamin Franklin

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

MilitiaMan: Iraq Dinar - IQD - USD - Exchange Rate Change Inevitable - CBI Launch National Strategy for Banking

Iraq Dinar - IQD - USD - Exchange Rate Change Inevitable - CBI Launch National Strategy for Banking

MilitiaMan and Crew:  5-26-3034

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=4X-4HuyJQqI

Some “Iraq News” Posted by Clare at KTFA

KTFA:

Clare:  The government sees clear indicators: the parallel dollar will be equal to the official one

5/26/2024   Baghdad

Today, Saturday (May 25, 2024), Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that the dollar exchange rate in the parallel market is close to matching the official price, in conjunction with the increased capacity of banks to meet requirements.

Saleh said in a press statement followed by “Baghdad Today” that “the price of the dollar will be 1320 dinars in the coming days,” noting that “the important factors that work to reduce the value of the US dollar against the Iraqi dinar in the parallel exchange market will remain centered on two important variables, the first of which is the rise Abilities of operating banks to comply with external transfer rules.

He explained that "the indicators are witnessing a cumulative rise, according to which the percentage of requested and executed requests in foreign currency for the benefit of financing foreign trade for the private sector through official transfer ports has increased, which has increased to more than 85%."

For more than two months, the exchange rates of the dollar against the Iraqi dinar have stabilized around 145 thousand dinars per 100 dollars, after it was between 155 and 160 thousand dinars per 100 dollars, while the decline in the exchange rate coincided with an increase in the amount of the Central Bank’s sales of dollars.    LINK

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Clare: Al-Haims announces joint cooperation to list government bonds on the Iraq Stock Exchange

5/26/2024

Baghdad - IA - Wissam Al-Mulla

Today, Sunday, Chairman of the Securities Commission, Faisal Al-Haims, announced joint cooperation with the Central Bank and the Ministry of Finance to list government bonds on the Iraq Stock Exchange.

Al-Haimas told the Iraqi News Agency (INA): “The authority is independent and affiliated with the Council of Ministers. Its work is to monitor the trading of bank shares to complete their requirements and list them in the Iraq Stock Exchange, by submitting financial statements according to the required timelines.”

He pointed out, "There has been great cooperation during the recent period with the Central Bank and the Ministry of Finance to list  government bonds in the Iraq Stock Exchange."   LINK

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Clare:  Iraq and Iran are discussing ways to strengthen relations in the oil and energy sector

5/26/2024

The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani, met on Sunday with the Ambassador of the Islamic Republic of Iran to Iraq, Muhammad Kazem Al-Sadiq.

The Ministry of Oil stated in a statement, “During the meeting, they discussed bilateral relations between the two countries in the oil and energy sector, and ways to enhance them in service of common interests.”   LINK

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Clare:  The Prime Minister confirms the government’s aspiration towards consolidating joint cooperation with Oman

5/26/2024  Baghdad
 
Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Sunday, the government’s aspiration towards consolidating joint cooperation with Oman.

A statement issued by the Prime Minister’s Media Office, received by the Iraqi News Agency (INA), stated that “Prime Minister Muhammad Shia’ al-Sudani received today the Ambassador of the Sultanate of Oman to Iraq, Hamid bin Ahmed Aidaroos, on the occasion of the end of his work duties.”

According to the statement, Al-Sudani appreciated “the efforts made by the Omani ambassador during his tenure in Iraq,” expressing his “wishes for success in his future duties.”

He stressed "the importance of bilateral relations between the two countries, and the government's aspiration towards consolidating and developing joint cooperation at various levels," noting "the importance of coordinating efforts to confront the challenges in the region as a result of the continued aggression against Gaza and the expansion of the conflict, which has been reflected in the security and stability of the region."

For his part, Aidaroos expressed his "appreciation for the extent of the cooperation he received during his work in Iraq," stressing "his country's government's keenness to strengthen bilateral relations and raise the level of cooperation in several fields, in order to achieve the interests of the two countries and the prosperity of their people." LINK

Clare: Nechirvan Barzani: The environment is suitable for Qatari investment in Iraq and the region

5//26/2024

The President of the Kurdistan Region, Nechirvan Barzani, received today, Sunday, the Secretary-General of the Qatari Ministry of Foreign Affairs, Ahmed bin Hassan Al-Hammadi.

The Presidency of the Region said, in a statement received by Shafaq News Agency, that the meeting was attended by the Ambassador of Qatar to Iraq and the Consul General of the State of Qatar in Erbil, indicating that the two sides stressed the development of Qatar’s relations with Iraq and the Kurdistan Region, and they also talked about Qatari investment opportunities in Iraq and the Region.

The Qatari delegation affirmed its confidence in Iraq and the Kurdistan Region, and its desire to develop relations in the economic and commercial fields that Qatar is opening in Erbil. 

The delegation also expressed its willingness to invest in the fields of energy, tourism, agriculture, education, health and many other fields.

Barzani congratulated the Qatari delegation on the opening of the Consulate General in the Kurdistan Region, and stressed that the environment is suitable for Qatari investment in Iraq and the Kurdistan Region, especially in infrastructure projects.

 He also expressed his gratitude for the support of the State of Qatar and its assistance to Iraq and the Kurdistan Region, noting that Iraq and the Kurdistan Region have many partnerships with Qatar.

During the meeting, the situation in the region and a number of issues of common interest were also discussed.   LINK

Iraq Economic News and Points To Ponder Sunday Afternoon 5-26-24

Iraq Economic News and Points To Ponder Sunday Afternoon 5-26-24

Oil Expert: Iraq Is Capable Of Producing 5 Million And 700 Thousand Barrels Per Day

 Time: 05/25/2024 18:38:18 Read: 1,261 times    {Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, confirmed today, Saturday, Iraq’s ability to produce 5 million and 700 thousand barrels per day after working on 18 or more oil fields.

 Al-Jawahiri said {to Al-Furat News} that:

“There was an increase in Iraq’s oil production, which does not mean that it will be pumped to the markets or produced because it is committed to OPEC’s decisions.”  He added,

"Iraq currently has a production capacity of one million and 500 thousand barrels that can be added due to the work being done on 18 or more oil fields, and

it can raise its production from 4 million and 200 thousand barrels of oil per day to 5 million and 700 thousand barrels per day." 

Al-Jawahiri added,  "With regard to the issue of gas production, we find seriousness from the government towards this matter and we hope for its success, if work continues at this pace."

The Minister of Oil, Hayan Abdul Ghani, announced in his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, that 29 promising projects were proposed within these licenses to advance industry and gas wealth.  He explained that

 the licensing rounds have an impact by adding two million barrels of oil to national production, while stressing  the imminent announcement that Iraq's oil reserves will rise to 160 billion barrels.  

 https://alforatnews.iq/news/خبير-نفطي-العراق-قادر-على-إنتاج-5-ملايين-و700-الف-برميل-يومياً     

The New Refineries Stop Iraq's Import Of Diesel.. Has The Purchase Of Gasoline Increased In Return?

 Economy ​ 05-17-2024, 19:00 |Baghdad today - follow-up  Commercial data revealed that   Iraq stopped importing “diesel” or “kerosene” according to long-term contracts, due to achieving sufficiency as a result of the development of refineries.

 However, the data indicated an increase in the import of gasoline according to futures contracts for this year compared to last year, in contrast to the Ministry’s data.

Oil imports decreased by 8 million barrels per day after the opening of the Karbala refinery, it says.

 According to a report published by Bloomberg and followed by “Baghdad Today,”

Iraq suspended diesel import contracts after the modernization of some refineries contributed to enhancing local production, which put the country on the path to achieving self-sufficiency in fuel, as

Iraq ended purchase deals at the end of last year and did not buy fuel. Under long-term contracts so far in 2024, according to traders participating in the market.

 Market data provider Vortexa indicated that the country had purchased three shipments of diesel this year, but traders said they were spot shipments.

 Fixed Term Deals

However, Iraq is still buying gasoline under fixed-term deals, according to traders who requested anonymity because the information is not public, according to Bloomberg.

The country aims to stop imports of fuel used to operate cars as soon as this year.

 Hamed Younis, Undersecretary of the Ministry of Oil for Refining Affairs, said last February that the country is working to renovate the refineries that were damaged during two decades of war, with the North Refinery restarting in 2024, with other refineries to follow.

 Benzene

Iraq imported 2.83 million barrels of diesel last year, or about 7,800 barrels per day, according to Vortexa.

 It also held a tender to purchase about 55,000 barrels per day of gasoline on average until the end of this year, according to traders, and

 this represents an increase from about 43,000 barrels. of seaborne gasoline was saved daily on average last year, according to Vortexa.

Baghdad buys gasoline from the trading units of Saudi Aramco, Reliance Industries, and Omani state energy company OQ, among other companies, according to traders and Vortexa ship-tracking data.

Traders said that these companies supply under long-term contracts, which Iraq continued this year.

  https://baghdadtoday.news/249593-المصافي-الجديدة-توقف-استيراد-العراق-للديزل.-هل-ارتفع-شراء-البنزين-بالمقابل؟.html    

Oil Expert: Iraq Is Capable Of Producing 5 Million And 700 Thousand Barrels Per Day

Time: 05/25/2024 18:38:18 Read: 2,197 times  {Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, confirmed today, Saturday, Iraq’s ability to produce 5 million and 700 thousand barrels per day after working on 18 or more oil fields.

Al-Jawahiri said {to Al-Furat News} that: “There was an increase in Iraq’s oil production, which does not mean that it will be pumped to the markets or produced because it is committed to OPEC’s decisions.”

He added, "Iraq currently has a production capacity of one million and 500 thousand barrels that can be added due to the work being done on 18 or more oil fields, and it can raise its production from 4 million and 200 thousand barrels of oil per day to 5 million and 700 thousand barrels per day."

Al-Jawahiri added, "With regard to the issue of gas production, we find the government is serious about this matter and we hope for its success, if work continues at this pace."

In his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, Oil Minister Hayan Abdul Ghani announced that 29 promising projects were proposed within these licenses to advance industry and gas wealth.

He explained that the licensing rounds have an impact by adding two million barrels of oil to national production, while stressing the imminent announcement that Iraq’s oil reserves will rise to 160 billion barrels.  LINK

Iraq's Oil Exports To America Increased Within A Week

Energy  Economy News _ Baghdad  The US Energy Information Administration announced on Sunday that Iraq's oil exports to America rose during the past week.

The administration said in a table seen by Al-Iqtisad News, “The average US imports of crude oil during the past week from eight major countries amounted to 5.241 million barrels per day, a decrease of 406 thousand barrels per day compared to the previous week, which amounted to 5.647 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 239,000 barrels per day last week, an increase of 116,000 barrels per day from the previous week, which amounted to 123,000 barrels per day."

The administration indicated that "the majority of America's oil revenues during the past week came from Canada at an average of 3.495 million barrels per day, followed by Saudi Arabia with an average of 486 thousand barrels per day, followed by Brazil with an average of 315 thousand barrels per day, and from Colombia at an average of 215 thousand barrels per day."

According to the table, “the amount of American imports of crude oil from Mexico was at a rate of 184 thousand barrels per day, from Ecuador at a rate of 163 thousand barrels per day, and from Nigeria at a rate of 144 thousand barrels per day.” 05/26/2024 - https://economy-news.net/content.php?id=43733

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Money

To make money, buy some good stock, hold it until it goes up, and then sell it. If it doesn't go up, don't buy it.  - Will Rogers

What some people mistake for the high cost of living is really the cost of living high.  - Doug Larson

The wretchedness of being rich is that you live with rich people.  - Logan Pearsall Smith

Definition of the upper crust: A bunch of crumbs held together by dough.  - Anonymous

Money can't buy happiness, but it will certainly get you a better class of memories.  - Ronald Reagan 

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Currency Insider Video Update Sunday Afternoon 5-26-24

Currency Insider Video Update Sunday Afternoon 5-26-24

Iraqi Dinar Shocking It’s Big News Update – 2:30

Vietnam Dong It’s Massive Change – 2:16

Iraqi Dinar Rate Update It’s Higher – 2:26

 Iraqi Dinar Shocking It’s Big News Update – 2:30

https://www.youtube.com/watch?v=1NZGH_t649o

Vietnam Dong It’s Massive Change – 2:16

https://www.youtube.com/watch?v=hfEajO1AX20

Iraqi Dinar Rate Update It’s Higher – 2:26

https://www.youtube.com/watch?v=9xer1VHMzQ0