New financial statement on the adjustment of the dollar exchange rate LINK
DeepWoodz: Imo….GOOD ONE HERE!!! Ok….the first part talking in circles….
The Ministry of Finance issued, on Friday, a new statement regarding the measures supporting the increase in the positive effects of adjusting the exchange rate of the dollar against the Iraqi dinar.
….the joining of several groups to get this right…
“next week with a proposed expanded meeting with the main economic actors from the public and private sector, where the Ministry of Finance will develop its policy program.”
“she led extensive discussions in the past weeks after the budget was approved by the Council of Ministers regarding the follow-up to adjusting the exchange rate with many parties inside and outside the government.”
and….
“She hopes that these procedures will coincide with discussions within the House of Representatives on tthe budget,”
NOW FOR THE RATE….
”The Ministry of Finance promised on Friday to make an amendment to the exchange rate of the foreign currency against the Iraqi dinar,”
And with the new rate….
”the Ministry of Finance will develop a detailed policy program designed to increase the benefits from adjusting the exchange rate.
Finally the best part and should leave no doubt….
”the main policy measures to protect the poor and vulnerable have been included in the budget and discussed in the minister’s statement regarding the budget.”
Question is, are they going to do what we have been awaiting? Is it possible that they are Finally….after 18 years, going to claim their Sovereignty and Prestige as an Iraqi nation?
I’d say that if they were just going to devalue once more, then there would be no talk of taxes. There would be no talk of helping the poor and vulnerable. There would be no talk of salary reductions. There would be no need for all the planning. There would be no need to include parties from inside and outside of the government.
ALL CONFUSION STOPS HERE. IMO
DeepWoodz: Imo….Whats more PROMISING for a great rate?!?! Great prosperity for Iraq!!! This is getting SO GOOD!
Samson: Oil prices are near an 11-month high
8th January, 2021
Oil prices held close to their highest level in 11 months, today, Friday, and is on the path of achieving strong weekly gains, as Saudi Arabia’s pledge to reduce production continued to support sentiment in the oil market.
Brent crude rose 13 cents, or 0.2 percent, to $ 54.51 a barrel by 05:31 GMT. The global benchmark touched $ 54.90 on Thursday, the highest since February. And US West Texas Intermediate crude gained 14 cents, or 0.3%, to $ 50.97. Crude closed up 0.4% on Thursday, after it also reached its highest level since February, at $ 51.28 a barrel.
The two benchmarks are on track for gains of about 5% this week. “Saudi Arabia’s decision to undertake voluntary cuts to its production continues to support the market,” said Hiroyuki Kikukawa, general manager of research at Nissan Securities.
He added, “The strength of global stocks, supported by abundant liquidity, also stimulates new oil purchases,” but he warned that oil and stock markets may witness a correction soon, as their rise does not reflect the current situation of oil demand and the global economy. And earlier this week, Saudi Arabia, the world’s largest oil exporter, said it would cut production by an additional 1 million barrels per day in February and March.
UBS raised its forecast for Brent crude to $ 60 a barrel by the middle of this year, following the unilateral reduction of Saudi Arabia and expectations of a strong recovery in demand in the second quarter, with a recovery in travel due to the distribution of anti-Coronavirus vaccines. Meanwhile, Asian stocks rose to record levels today, while the Japanese Nikkei index reached a three-decade high, as investors turned a blind eye to the high incidence of Coronavirus and political turmoil in the United States, to focus on hopes for an economic recovery later in the year. LINK
