Bondlady’s Corner

Iraqi News Highlights Wednesday Evening 2-15-23

Tlm724 Administrator Bondlady’s Corner

Central Bank Governor: We Are Determined To Stabilize The Exchange Rate

Economie| 01:00 – 02/15/2023   Baghdad – Mawazine News  The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed today, Wednesday, that the platform was found to protect the banking sector, while indicating the central bank’s determination to stabilize the exchange rate of the dollar.

Al-Alaq said, “The new electronic platform is to avoid any penalties for those who carry out transfers, whether they are banks or others. It is a protection for the banking sector, the central bank and banks from falling into any forms related to external financial transfers, and this serves all parties.”

On the exchange rate of the dollar, Al-Alaq explained, “The responsibility of the central bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal.” He added, “Our discussions with the International Monetary Fund were very fruitful, and we agreed on programs that serve properly directly and indirectly to achieve this goal.” Ended 29 / h

Dollar Exchange Rates Today

Wednesday 15 February 2023 10:43 | Economical Number of readings: 505  Baghdad / NINA / – The exchange rates of the dollar rose, on Wednesday, on the Iraqi Stock Exchange, to exceed 155,000 dinars per 100 dollars.   The selling price of the dollar in Baghdad reached 153 thousand dinars for every 100 dollars.   And the purchase is 152 thousand dinars for every 100 dollars.

And the selling price of the dollar in Erbil was 155,500 dinars for every 100 dollars.  And the purchase is 154,500 dinars for every 100 dollars./

Sudanese Advisor Reveals The Size Of Iraq’s Internal And External Debts

Money and business  Economy News – Baghdad   The financial advisor to the Prime Minister, Mazhar Muhammad Salih, determined, on Wednesday, the total public debt of Iraq, while indicating that extinguishing and repaying debts are subject to a tight financial program and regular timings.

Salih told the official news agency, “Iraq’s internal debt, which is exclusively in the possession of the government banking system, is estimated at about $55 billion if it is valued in foreign currency according to the new exchange rate,” noting that “a percentage of no less than 63% of the internal public debt is in the possession of the Central Bank.” Iraq, whether in the form of government bonds or treasury transfers.

He added, “The average annual interest on all of them is about 3% with the offer,” pointing out that “the external public debt that must be paid between the years 2023-2028 is estimated at 21-23 billion dollars, which means that the total internal and external indebtedness is 76 billion.” dollar”.

He pointed out that “the total balance of public debt (internal and external) still does not exceed 35% of Iraq’s gross domestic product, while international standard ratios allow up to 60% and consider it stable.”

And he continued, “Based on the rules of discipline or fiscal reinforcement, the fiscal policy should reduce the total amount of public debt annually, as well as gradually reduce the annual deficit rate through rational management of public spending and maximizing total public revenues, especially non-oil revenues, the proportion of which should become About 20% of the total public revenues in the budget instead of the current percentages that do not exceed 8%, according to what was stated in the ministerial curriculum of the government of Prime Minister Muhammad Shia’a al-Sudani.

He noted that “extinguishing and repaying debts are subject to a tight financial program and regular timing, especially external debt receivables through the allocations allocated in the general budget for debt extinguishment and services, which still indicates Iraq’s high creditworthiness with international credit rating institutions and according to its data issued periodically since its adoption.” from 2015 to the present.

Integrity: A 7-Year Prison Sentence For The Assistant Manager Of The Rafidain Bank Branch In Khalidiya

Political | 02:58 – 02/15/2023  Baghdad – Mawazine News  The Federal Integrity Commission announced, today, Wednesday, the issuance of a judgment in presence against the assistant director of the Rafidain Bank branch in Al-Khalidiyah, serving seven years in prison for “damaging public money.”

According to a statement received by Mawazine News, the Commission’s Investigation Department stated, “The Rusafa Criminal Court, which is competent to look into integrity cases, issued a judgment in the presence of seven years imprisonment against the assistant director of the Rafidain Bank branch in Al-Khalidiya, formerly the “credit officer,” on the background of issuing (6 Letters of guarantee for the amount of (3,411,000,000) billion dinars, without following the required mechanism when issuing letters of guarantee.

The department stated, “The details of the case indicate that the accused issued (6) forged letters of guarantee in collusion with the former branch manager, at the request of two limited trading and general contracting companies, for the benefit of a company affiliated with the Ministry of Industry and Minerals merged with the General Company for Copper and Mechanical Industries.” Indicating that “the issuance of letters of guarantee was without following the required mechanism when issuing them represented by taking commissions and insurances, while taking sufficient guarantees covering the amount of the guarantee.”

And she pointed out that “the court, after reviewing the evidence obtained in the case represented by the statements of the legal representative of the bank who requested the complaint against the accused and the administrative investigation record, reached sufficient conviction of her negligence, so it issued the ruling against her, based on the provisions of Article (340) of the Iraqi Penal Code.” Ended 29/N33


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