Bondlady’s Corner

Iraqi News Highlights Tuesday Evening 5-16-23

Tlm724 Administrator Bondlady’s Corner

Iraq Reduces Its Holdings Of US Bonds

Economy  May 16, 2023    Follow-up / National News Center   The US Treasury announced today, Tuesday, that Iraq’s holdings of US bonds decreased for the second month in a row, to reach $39 billion.

And the Treasury stated, “Iraq’s possession of US Treasury bonds for the month of March of the year 2023 decreased by 1.4 billion dollars, to reach 39.3 billion dollars, after it was 40.7 billion dollars during the previous month,” indicating that “these bonds increased by 50% from the same month.” From the year 2022, when Iraq’s possession of bonds amounted to $ 26.2 billion.

In the Arab world, Saudi Arabia comes at the forefront of the countries with the most possession, amounting to 116.2 billion dollars, and the UAE comes second with 61.5 billion dollars, then Kuwait third with 39.3 billion dollars, then Iraq fourth, and Oman fifth with 7.061 billion dollars, then Morocco with 3.890 billion dollars.

She indicated that “the most holders of US bonds are Japan with 1087.7 trillion dollars, followed by China with 869.3 billion dollars, followed by the United Kingdom with 714 billion dollars, and then comes Belgium with 336.5 billion dollars.”

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

Economy   May 16, 2023 Baghdad / The National News Center  The decline in the exchange rates of the US dollar against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 144,800 Iraqi dinars against 100 dollars, while the prices this morning were 146,000 dinars.”

He added, “The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 145,500 dinars, while the purchase price reached 144,500 dinars for every 100 dollars.”

Qatari Delegation To Al-Sudani: Iraq Is A “Capacious Environment” For Investment And They Are Ready To Find Strategic Partnerships

Money  and business  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani received, on Tuesday, a delegation of businessmen and investors from Qatar, headed by Nawaf bin Nasser Al Thani.

During the meeting, Al-Sudani stressed, “Iraq’s economic openness to its regional and international surroundings, and serious work to establish constructive partnerships in the field of investment, in light of the available economic opportunities launched by the government, especially in the field of renewable energy, and optimal investment in associated gas and petrochemicals.”

He referred to “the many measures taken by the government since the beginning of its formation, in order to provide an appropriate and attractive investment environment, whether for the local investor or for investors from outside Iraq,” stressing “the government’s seriousness in achieving an economic renaissance that enhances the path of development in the country.”

For their part, the members of the delegation stressed, “the readiness to work in Iraq, and to find strategic partnerships with businessmen and the private sector in Iraq, which has become a spacious environment for investment.” Views 138  Added 05/16/2023 –

The Minister Of Planning Directs The Formation Of Committees On The National Development Plan For The Next Five Years

Today, Tuesday, Minister of Planning Muhammad Ali Tamim directed the formation of committees on the national development plan for the next five years.

A statement by the ministry stated that “Minister of Planning Muhammad Ali Tamim chaired a meeting of the Supreme Committee to prepare the five-year national development plan 2023-2027, with the participation of a number of deputies from the Finance Committee, the Economic and Investment Committee, the Strategic Planning Committee, the governors of Baghdad, Nineveh and Basra, the economic advisor to the Prime Minister, and undersecretaries. A number of ministries, heads of federations, and a number of general managers who represent ministries and entities not linked to a ministry.

During the meeting, the Minister of Planning stressed that “the development plan that is being prepared is a realistic and ambitious plan, and that the executive authorities can achieve their basic goals, according to the economic reality,” noting that “it will be consistent with the government program and the ministerial curriculum, in supporting the local arms represented by the provincial governments.”

In light of population increases, which necessitates investing in projects with a social dimension, focusing on infrastructure related to productive sectors, especially the agricultural, industrial and tourism sectors, and working to achieve economic diversification, in order to address development gaps and reduce disparities

. By forming specialized sub-committees whose mission is to follow up on what is achieved of the plan’s goals on a regular basis, in order to address any challenges or problems facing the implementation of the plan.

He pointed out that “the meeting witnessed a discussion of the general framework of the next development plan, the economic vision, goals, priorities, and the proposed economic model for the plan, and what was achieved during the meeting of the goals of the previous five-year plan 2018-2022.”


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