Bondlady’s Corner

Iraqi News Highlights Monday Evening 2-13-23

Tlm724 Administrator Bondlady’s Corner

Fuad Hussein From Washington: The Currency Crisis Is Gradually Receding, And Iraq Is Becoming Aware Of It

Money and business   Economy News _ Baghdad  Fuad Hussein, Deputy Prime Minister and Minister of Foreign Affairs, on Monday, expressed optimism that the Iraqi currency crisis that prompted him to visit Washington appears to be receding, after the recent central bank raised the value of the currency, and after his meetings here with treasury officials.

Hussein said in statements to Al-Monitor, followed by Al-Iqtisad News, that there is already a system in place between the Central Bank of Iraq and the US treasury, but it is new, and the Iraqi parties have become more familiar with the mechanism.

He added, “Iraq also benefits from large currency reserves and relatively high oil prices.” “There are also positive results from the recent shifts made by the Central Bank of Iraq in monetary policy. So I think this crisis is gradually receding.”

Finance: The Problem Of The High Price Of The Dollar Was Remedied By Governmental And Popular Will

Political | 03:12 – 02/13/2023   Baghdad – Mawazine News,  Minister of Finance, Taif Sami, announced, on Monday, that the ministry is in the process of finalizing work on the federal budget for the current year, while indicating that the problem of the high price of the dollar was remedied by governmental and popular will.

Sami said in her speech at the Seventh Arab Finance Forum, which opened its business in the UAE capital, Abu Dhabi, and was followed by Mawazine News: “We sought to pass the food security, development and financial hedging law at an amount of (25) trillion dinars in order to alleviate poverty, achieve financial stability and continue to provide services to citizens. “,

Indicating that” the Iraqi government has confronted the Corona epidemic by taking several immediate measures to limit its spread through national, mobilizing, health and social policies that focused on marginalized social groups and facilitated access to health services and social care, which added these immediate and precautionary measures heavy financial burdens on public money. “.

She added, “The Iraqi economy suffers from chronic structural problems, as the spring character is still mostly on it, and its recovery depends on oil prices in the global market, which puts the government and its economic and financial institutions on alert to overcome challenges and crises,”

noting that “the adoption of the Iraqi government headed by a president The Council of Ministers, Mohamed Shia Al-Sudani, launched an ambitious program on the economic and financial level, and over a period of several months, its positive indicators appeared on the life of society and the institutional structure of the state to achieve financial sustainability.

And she stated: “We are on the verge of ending work with the federal budget for the year 2023 and moving towards comprehensive economic reforms in the Iraqi economy and setting a clear strategy to diversify its economy, raise its revenues and push development forward,”

pointing out that “the Iraqi government appreciates the unremitting efforts and keenness to strengthen economic cooperation between Arab countries.” And coordination with partners to serve the economies and investments of those countries.

And she continued, “International relations are based on balance and expanding the base of interests to serve the goals of economic and financial development in the Arab countries,” pointing to “the challenges that the world faces from the effects of climate change, which have become more dramatic and their repercussions on peoples, which makes it imperative for Arab countries to increase financing, cooperation and income.” investments that help mitigate the effects of climate change.

Sami expressed “the Iraqi government’s high confidence that the annual financial forum is an important factor in transferring successful Arab and international ideas and experiences and the lessons it offers from the sustainable development goals for the year 2030 that raise the level of the Arab reality, which is exposed to very serious challenges.”

It is worth noting that the Seventh Arab Finance Forum was organized by the Arab Monetary Fund in cooperation with the International Monetary Fund and with the participation of Arab ministries of finance, governors of central banks and Arab monetary institutions, as well as a number of heads and senior officials and experts from international and regional financial institutions. Ended 29/h

Learn About The Exchange Rates Of The Dollar Against The Dinar

Economie| 10:43 – 02/13/2023  Baghdad – Mawazine News  Today, Monday, the exchange rates of the dollar are stable on the local stock exchange.  Selling price: 147,000 dinars per 100 dollars. Buying price: 146,500 dinars per 100 dollars.

The Ministry Of The Interior Takes Proactive Measures To Control Prices With The Advent Of The Month Of Ramadan

Economie| 01:49 – 02/13/2023   Baghdad – Mawazine News   The Ministry of Interior announced, on Monday, that it had taken proactive measures to control prices with the approaching month of Ramadan.

“Some people take advantage of any opportunity or crisis in order to raise prices and exploit citizens to profit illegally and without right,” said the ministry’s spokesman, Major General Khaled al-Muhanna, in an interview with the official news agency, followed by Mawazine News.

He added, “One of the duties of the Ministry of Interior and the Anti-Organized Crime Directorate is to combat monopoly, price manipulation and speculation,” noting that “the economic crime detachments are active at such times to track down and arrest those found guilty of such kind of practices.” Ended 29/N33

Oil Prices Are Falling Amid Demand Concerns

Economie| 08:37 – 02/13/2023   Follow-up – Mawazine News  Oil prices fell on Monday, after rising 2% in the previous session, as investors ignored the impact of Russian production cuts, and focused instead on short-term demand concerns stemming from refinery maintenance in Asia and the United States.

Brent crude futures were down 69 cents, or 0.8%, at $85.70 a barrel by 0420 GMT, after rising 2.2% on Friday.    US West Texas Intermediate crude was at $79.04 a barrel, down 68 cents, or 0.9%, after rising 2.1% in the previous session.


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