Bondlady’s Corner

Iraqi News Highlights Sunday Evening 1-15-23

Tlm724 Administrator Bondlady’s Corner

Central Bank Sales Of Foreign Currency Exceed $ 219 Million

Economy News-Baghdad   The central bank’s sales of foreign currency rose today, Sunday, to exceed $200 million.  Data obtained by “Al-Iqtisad News” showed that “the total sale in foreign currency sales today, Sunday, amounted to 219.9 million dollars.”  She added, “The total number of mediation companies is 143.”   The bank’s sales recorded a decrease during the last period, as a result of the application of new mechanisms in the circulation of the dollar through the currency sale window.

Views 126   Added 01/15/2023 – 2:08 PM  Updated 01/15/2023 – 5:55 PM

The Dollar Rises To 158 Thousand Dinars In The Iraqi Market

Economie| 10:36 – 01/15/2023   Baghdad – Mawazine News  Today, Sunday, the exchange rates of the dollar witnessed a slight increase in the local markets.   Selling  price: 158,000 dinars per 100 dollars   Buying price: 157,700 dinars per 100 dollars

The Prime Minister’s Advisor Determines The Total Public Debt Of Iraq

Economie| 03:10 – 01/15/2023   Baghdad – Mawazine News   , the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the foreign reserves in Iraq are very high, while determining the total public debt.

Saleh said, “The country’s internal public debt is currently estimated at about $50 billion, which is entirely owned by the government banking system (that is, debt within the government apparatus and not outside it).”

He added that “63% of the internal public debt is held by the Central Bank of Iraq and represents local assets in the structure of the central bank’s balance sheet,” noting that “the remainder of the internal debt is held by the three main government banks, with an annual interest of between 2-3%.”

He pointed out that “the effective external debt that must be paid during the period from 2023 does not exceed 20 billion dollars, which means that the total public debt is estimated at about 70 billion dollars currently, and it constitutes only a percentage of 30% to 35% of the country’s gross domestic product, which is a very safe percentage.” Compared to the standard or international standard rate of 60%.

He continued, “The efficiency of the country’s foreign reserves is very high and covers external debt liabilities by 5 times, which is a high and reassuring standard ratio and reflects the strength of Iraq’s financial situation,” noting that “the mechanism for repaying internal and external debts takes place through annual allocations approved in the federal budget.”

And he continued, “Fiscal policy in Iraq tends to adopt the principle of financial discipline, which is based on gradually reducing the total accumulated public debt, offset by narrowing the annual deficit in the federal general budget and making the debt created when necessary within the standard ratios, so that the new public debt does not exceed 3% annually.” Ended 29/ h

The Wall Street Journal: Al-Sudani Supports Not Setting A Time Limit For The Presence Of US Forces In Iraq

Political | 03:35 – 01/15/2023   Baghdad – Mawazine News   The American Wall Street Journal revealed that Iraqi Prime Minister Muhammad Shia al-Sudani did not specify a timetable for ending the American presence in Iraq.

And the newspaper stated in a report published by it, that “Iraqi Prime Minister Muhammad al-Sudani defended the presence of American forces in his country and did not set a timetable for their withdrawal, which indicates a less confrontational stance towards Washington early in his term.”

“We believe we need foreign forces,” al-Sudani said, according to the newspaper, referring to US and NATO units that train and assist Iraqi units in confronting the terrorist organization ISIS, but remain largely out of the fray.

He added that “the elimination of ISIS needs more time.”

“I see Iraq on good terms with Iran and the United States,” he said.

He added that President Biden ”

In the interview at the presidential palace in Baghdad, Al-Sudani said he plans to send a high-level delegation to Washington for talks with US officials next month, a move aides said they hoped would pave the way for Al-Sudani to meet with Biden.

“Inside Iraq, we do not need combat forces,” Al-Sudani said, referring to the role of the United States in helping to train Iraqi forces and intelligence in chasing the terrorist organization ISIS. If there is a threat to Iraq, it is the penetration of ISIS terrorist cells through Syria. Ended 29/h

Planning: The Private Sector Contributes To Employing Half Of The Workforce

Money and business   Economy News-Baghdad   The Ministry of Planning announced, on Sunday, that the private sector contributes to employing half of the labor force in Iraq, and contributes to 37 percent of the gross domestic product.

The ministry’s spokesman, Abdul Zahra Al-Hindawi, said, “The private sector is a key partner for the public sector in achieving growth, as the percentage of private sector participation in the formation of the gross domestic product reaches 37 percent, and this percentage seems high, but in reality it is less than the required percentage,” stressing That “this sector contributes to the employment of 50 to 55 percent of the workforce.”

Al-Hindawi pointed out that “private sector indicators in Iraq are divided into two categories, the first is an organized private sector and the other is unregulated,” noting that “the largest percentage is for the unorganized private sector, and in order for the private sector’s activity to be more effective, a number of governing and regulating legislation should be reviewed.

As well as the laws that activate the effectiveness and contribution of this sector, in addition to the necessity of activating the private sector strategy that the Ministry of Planning emphasized years ago in cooperation with national agencies and international organizations.

He explained, “The strategy of the private sector proceeds in three stages, the first includes preparing and preparing this sector, while the second stage represents the procedures for forming the private sector, and the third is the stage of leadership and pioneering,” pointing out that “the step that was implemented in this direction is the formation of a development council.”

The private sector, which is headed by the Minister of Planning and includes in its membership representatives of the relevant economic sectors and representatives of the ministries of finance and trade and other relevant authorities.

And Al-Hindawi stated, “The mission of this council is to involve the private sector in economic decision-making and other procedures and tasks that the council undertakes, including activating the banking sector so that it can enter strongly into financing projects.”

Views 159   Added 01/15/2023 – 11:14 AM Updated 01/15/2023 – 6:14 PM

Decrease In Iraq’s Oil Exports To America

Sunday, January 15, 2023 9:04 am  Follow-up / National News Center  Iraq’s oil exports to America decreased, reaching 150,000 barrels per day, on average, during the past week.

And the US Energy Information Administration stated, in a report today, Sunday, that “the average US imports of crude oil during the past week from eight countries amounted to 5.677 million barrels per day, up by 573 thousand barrels per day from the previous week, which amounted to 5.104 million barrels per day.”

The administration added, “Iraq’s oil exports to America amounted to an average of 150,000 barrels per day last week, down from the previous week, when oil exports to America amounted to an average of 354,000 barrels per day.”

And she continued, “Most of America’s oil revenues during the past week came from Canada at a rate of 3.737 million barrels per day, followed by Mexico at a rate of 668 thousand barrels per day, and oil revenues from Saudi Arabia at a rate of 464 thousand barrels per day, and then Colombia at a rate of 346 thousand barrels per day.”

She pointed out, “The amount of US imports of crude oil from Nigeria amounted to an average of 143,000 barrels per day, from Ecuador at an average of 137,000 barrels per day, and from Brazil an average of 132,000 barrels per day, while Russia or Libya did not import any quantity.”

Parliament Resumes Its Sessions By Ignoring The Dollar Crisis

Posted On2023-01-15 By Sotaliraq   Baghdad / Firas Adnan   Yesterday, Saturday, Parliament began its sessions in its third term by ignoring the most prominent crisis facing the Iraqi street, which is the rise in the exchange rate of the dollar and its impact on the local market.

Representative Amer Abdel-Jabbar said, “82 deputies signed a request that the rise in the price of the dollar be discussed in the first parliament session.”

Abdul-Jabbar continued, “The agenda for yesterday was devoid of this paragraph, although the changes in the price of the dollar greatly affected the citizen, with a clear price hike in the markets.”

He pointed out, “The citizen does not bear the burden of the government’s mistakes, which must provide radical solutions,” noting that “Parliament is with dealing with money laundering operations and pursuing the corrupt, but this is not done at the expense of the citizen.”

Abdul-Jabbar pointed out that “the issue of the dollar falls directly on the central bank and the executive authority. As for the role of parliament, it is a supervisory one represented by hosting the governor of the central bank, Mustafa Ghaleb Makhaif, and if necessary, hosting the Prime Minister, Muhammad Shia’ al-Sudani.”

And he stated, “If the government does not put in place radical solutions, then we will go to use our powers in interrogation, because we do not accept that the citizen bears the price.”

For his part, the other deputy, Sharif Suleiman, stated that “Parliament must put in its first concern the issue of changing the exchange rate of the dollar and its impact on the Iraqi street.”

Suleiman continued, “The representatives will not stand by and watch the rise in the exchange rate,” stressing that “the role of the House of Representatives oversight over the rest of the authorities helps it to remedy the crisis.”

Parliament finished its first session of the new legislative term, reading a report and discussing the Fourth Amendment Law to the Industrial Investment Law for the private and public sectors No. (20) of 1988 and the first reading of the draft Communications and Informatics Law. The session also witnessed, according to an official statement of the parliament, the oath of three new deputies, Ghazwan Ali Muhammad Munshed and Kazem. Attia Kazem and a leftist student.   LINK


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