Markets:
Asian Markets all closed up NIK 7.13% HSI 4.4% SHANG 2.43%
Currently at 2:48 am PST our market futures all reached limit up which is about 5%
DOW at 19387 up 5.03% SNP up 5.09% NDX up 5.35% those are futures and can change by market open
European markets are currently trading in the green
PRecious MEtals:
Gold up at 1601 Silver green at 13.99 Copper green at 218 Platinum green at 687
oil is up %5 WTI is at $23 and Brent is at $27 per https://oilprice.com/ at 4:12 am cali
Favorite Currencies Forex Quotes 5:07 am cali
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1154.1000 |  1209.7000 | 1185.2000 | 1184.7000 | 1184.7000 | 0.6000 | 06:41 |
| USD/VND | 23244.0000 | 23247.0000 | 23351.1800 | 23351.1800 | 23351.1800 | -8.2500 | 02:30 |
| USD/CNY | 7.0620 | 7.0640 | 7.0913 | 7.0569 | 7.0909 | -0.0290 | 06:57 |
| USD/KWD | 0.3122 | 0.3132 | 0.3120 | 0.3119 | 0.3120 | -0.0001 | 05:13 |
| GBP/USD | 1.1740 | 1.1742 | 1.1788 | 1.1507 | 1.1540 | 0.0202 | 06:57 |
| USD/IRR | 0.0000 | 0.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 97.5000 | 00:00 |
| USD/IDR | 16299.0000 | 16331.0000 | 16658.0000 | 16261.0000 | 16658.0000 | -360.0000 | 06:56 |
Things in the News:
Iraqi Articles:
Barclays cuts oil price forecasts by $ 12 in 2020 due to Corona and the price war
On Tuesday, Barclays lowered its oil price forecast for 2020, indicating significant downward pressure in the market caused by the price war between Russia and Saudi Arabia and the turmoil in demand caused by the Corona virus.
The bank cut its crude price forecast for 2020 for Brent and West Texas, the US mediator, by $ 12 to $ 31 and $ 28 a barrel, respectively.
"Prices are likely to remain under pressure until the situation in relation to the virus improves, and if the expected path to market equilibrium continues, Saudi Arabia and Russia will not be immune to price implications," bank analysts wrote in a note.
Barclays is joining other banks in lowering its oil price forecasts based on the collapse of an agreement to curb production between members of the Organization of the Petroleum Exporting Countries (OPEC) and allies, or what is known as OPEC +, as well as demand from the virus.
Barclays also expects global storage capacity available on the ground to be around 1.5 billion barrels, and it is estimated that the surplus in supplies will exceed five million barrels per day this year and that it will average ten million barrels per day in the second quarter.
Meanwhile, the bank says, “The US government's purchases of strategic oil reserves are unlikely to ease the difficulties of the producers.”
He added that the storage capacity available in the strategic petroleum reserve is less than 80 million barrels, according to the US Department of Energy, and this will be equivalent to a flow of less than 0.5 million barrels per day when it is filled over a period of six months, compared with a surplus in supplies of approximately ten million barrels per day during the second quarter .
The International Monetary Fund talks about the terrible challenges to the Iraqi economy because of "Corona"
The International Monetary Fund announced, on Tuesday, that dozens of countries in the Middle East and Central Asia have contacted the fund, seeking financial support to counter the impact of the Corona virus on the economy.
Jihad Azour, director of the Middle East and Central Asia Department, said, "The challenge will be especially daunting for fragile and torn countries like Iraq, Sudan and Yemen."
The International Monetary Fund had previously expected that the Corona "Covid-19" epidemic would have a severe impact on the global economy.
The head of the International Monetary Fund's Policy and Strategic Review division, Martin Muelweisen, said last week that the main goal of governments should be to limit the spread of the virus in a manner that creates confidence that the economic shock will be temporary.
The head of the International Monetary Fund's Policy and Strategic Review division, Martin Muelweisen, said last week that the main goal of governments should be to limit the spread of the virus in a manner that creates confidence that the economic shock will be temporary.
The World Bank informs Iraq of its unwillingness to discuss any new loan for Baghdad with the status quo
revealed a senior Iraqi official in Baghdad, on Tuesday, that the World Bank informed Iraq of its unwillingness to discuss any new loan to Baghdad, the current status of the country.
The official said, "The option of external borrowing, as one of the government's means to alleviate the financial crisis, is not raised due to assurances received from the World Bank that it is not ready to discuss any new loan to Baghdad in the current state of the country," noting that "recent government decisions were unsuccessful and contributed to increasing Financial deficit. "
He added, "These decisions are represented in the employment packages launched by the government and they were all courtesy motives at the expense of the actual need, and so far have reached more than a quarter of a million jobs."
Corona may revitalize the Iraqi economy .. Baghdad is on the cusp of exemptions from foreign debt payments
World Bank Group President David Malpas said on Monday that the bank may harness up to $ 150 billion in resources over the next 15 months to help developing countries fight and recover from the Corona virus pandemic, while calling on G20 leaders to allow the poorest to suspend all debt payments .
In a statement to the finance ministers and central bankers of the Group of Twenty countries issued by the World Bank, Malpas called the creditor countries in the group to allow the poorest countries to suspend all bilateral debt payments while fighting the virus.
He said the poorest countries should be allowed to focus their resources on health measures in the face of the crisis.
"I call on the leaders of the Group of Twenty to allow the poorest countries to suspend all official bilateral debt payments, until the World Bank and the International Monetary Fund have completed a comprehensive assessment of their needs for reconstruction and financing," he said in the statement.
Malbas said that the bank is currently preparing projects in 49 countries to help fight the virus under a new fast-track credit facility, and decisions are expected this week on up to 16 projects.
He explained that the bank is consulting with China and other major countries to obtain assistance for the rapid industrialization and delivery of many of the medical supplies that countries need.
Iraq debt
A parliamentary committee in the Iraqi parliament revealed, at the end of last year, the foreign debts of Iraq, noting that it had reached the stage of the threat to the economic future.
Member of the Parliamentary Finance Committee, Ahmad al-Jubouri, told the official Al-Sabah newspaper that “the committee had previously suspended debt, especially foreign, in the 2019 budget, at a time when there is an obligation to continue debt as it was present during the war against ISIS gangs in the governorates of Nineveh, Anbar and Salah al-Din.”
He pointed out that "debts, especially foreign affairs, amounted to 125 billion dollars."
He warned that "its survival portends a danger to the economic future of Iraq," noting that "there are 20 paragraphs of debt that will be in the 2020 budget."
The International Monetary Fund said, last year, that Iraq’s debts worsened during the past years, where they were 6 years ago 73.1 billion dollars, and rose in 2014 to 75.2 billion dollars, and in 2015 they became 98.0 billion dollars, while two years ago it was 114.6 billion dollars, to rise In the year 2017 to $ 122.9 billion.
The currency market in Sulaymaniyah opens its doors to citizens for five hours
On Tuesday, the Sulaymaniyah currency market opened its doors to citizens for five hours.
And the currency market began to reopen its doors to the citizens for a period of 5 hours a day in the city of Sulaymaniyah and the Kurdistan region on Tuesday 3/24/2020.
And the currency market began to reopen its doors to the citizens for a period of 5 hours a day in the city of Sulaymaniyah and the Kurdistan region on Tuesday 3/24/2020.
The Ministry of Interior in the Kurdistan Regional Government decided to allow banking shops to open their doors to customers for a period of 5 hours a day, starting today in the cities of Erbil, Sulaymaniyah, Dohuk, Halabja, and the Karmyan and Raprin administrations.
According to the decision, these markets will open their doors daily from 11:00 a.m. to 3:00 p.m., in order to convert currencies for commercial purposes, and in conjunction with that, the commercial movement continues between the region and abroad.
Placeholder: Al-Zarrafi cannot be expected to pass
deputy from the Al-Fateh Alliance said, on Tuesday, that Adnan al-Zarfi could not be expected to pass.
"The political forces have agreed, since the first hours, to announce the appointment of Adnan al-Zarfi, by the President of the Republic, Barham Salih, to change him and refuse to vote for him in the Iraqi parliament," said coalition deputy Karim al-Muhammadawi.
"The political forces have agreed, since the first hours, to announce the appointment of Adnan al-Zarfi, by the President of the Republic, Barham Salih, to change him and refuse to vote for him in the Iraqi parliament," said coalition deputy Karim al-Muhammadawi.
Al-Muhammadawi said that "some political parties tried to change the political position rejecting Zarfi, but they failed, and the last meeting (Sunday) confirmed his rejection and the trend towards changing it, and dialogues are underway to find a substitute for him, and there are names that have been proposed, and others will be presented in the coming hours and days."
The deputy from the Al-Fateh Alliance asserted that "Al-Zrafi, and those who support him from the Iraqi political forces, and even the international parties, cannot lead to him gaining confidence in parliament, and for this he will not pass, regardless of the pressures, and it cannot be expected to pass it from the ground up."
CBI, ISX,Dinar Guru:
CBI Update: IT SEEMS the CLOSURES have BEEN Extended WE SHALL SEE
Click on the link above for the latest update.
The CBI for rate is.
The currency auction total sales amount $ 0. No Auction today
ISX Update: At my last checking
Failure to organize trading sessions 17 / 3-2020 / 3/23
it's a document in Arabic but these are the words
Iraq Stock Exchange Iraq market for ur number: Date: \ ۷/۱۹ / C To the Securities Commission What is the lack of organization of trading sessions 3/17 - 3/23/2020
We give you our best regards. . .
Based on the decisions of the Health Crisis Cell dated 3/15/2020.
The Board of Governors decided not to organize trading sessions and stop trading activity in securities as of Tuesday 3/17/2020 to enable brokerage firms and investors to complete financial settlements between them and the clearing bank until Monday. 3/23/2020 The trading session after suspension is organized on Tuesday 3/23/2020 according to instructions and rules with appreciation THIS HAS BEEN EXPANDED UNTIL APRIL 1
Taha Ahmed Abdel Salam Duran Soran
Shares Traded: N/A
Value Traded: N/A
3-24-2020 Intel Guru Frank26 Question: Is it possible for the RI to be pushed out several months from the coronavirus epidemic? Of course it is but the way it's moving right now in the direction that it's going crescendo - peaking - almost over with, manufacturers helping, the whole economic world is not listening 'Oh it's a disaster' instead they're holding back and they're gonna move the moment Trump tells them. So is it possible that the RI could be pushed out several months...? Based on all those things that we've been saying and studying, no I just don't see that.
3-23-2020 Intel Guru Okie_Oil_Man JUST A FAST FLY-BY — I AM BEING TOLD TO EXPECT LANDING PERMISSION WEDNESDAY 3-25...
3-23-2020 Newshound Guru Pimpy I agree with Trump. Once we get out of this coronavirus thing our economy is going to slingshot IMO...Trump thinks we're gonna be out of this by April. Well one of the things you could do is change the rate of the Iraqi dinar. We know people are holding it including countries everywhere. You can give the appearance of a stimulated economy...
3-23-2020 Intel Guru Frank26 ....one, two, three are the things we've dreamed about for years in order to raise the value of the currency. Security. Stability. Stop the auctions and they're not using the American dollar...if I was Steven Spielberg I don't think I could have even come up with a greater scrip than this for a Hollywood movie. 1-2-3 and then go to the bank honey!
3-23-2020 Newshound Guru Breitling Iraq can't just add value for no reason. Because any country could just add value to their currency. Why can Iraq add value? Because they are artificially below...it's not a foreseen thing, 'oh, Iraq is just going to add value to their currency.' No. They're correcting the value of their currency. That's actually the correct term. The Iraqi dinar is not at its correct value. They are artificially keeping it low because based on their supply times velocity and how they back up their currency they just print more currency and the value goes down. We have articles that specifically say that. What happens when they pull currency out of their markets? Their value goes up...It's not a far fetched thing that Iraq needs to add value to their currency. A. It's correcting the value of their currency. B. They need to because they have no options...
3-23-2020 Intel Guru MarkZ [if martial law is declared would we be able to go to the bank for exchanges?] Im still hearing that with our 800 numbers, via email we will get our travel documentation to exchange...according to sources and what they are told …we really are “any day now”. does this mean this week or this month….we just don’t know.
3-23-2020 Newshound Guru Jeff ...we know that they're not gonna want people coming into the banks regarding the whole coronavirus especially with the lock-downs...we ultimately know that the Trump Administration is in charge and then we know that Iraq's economically is going to start suffering if the rate doesn't change. There could be a solid chance that Iraq and Trump have met in the middle of this. Maybe they agreed to change the rate IMO tentatively agreed to change the rate during the month of April. Because April will start the new fiscal year...it gives the US a chance to implement a lock-down process for say two to three weeks...there could be a good chance they've selected the first half to the middle of April to change the rate...
3-23-2020 Newshound Guru Pimpy ...I got in a dispute with somebody. He keeps telling me that the IMF controls the rate of the Iraqi dinar. They don't control the rate. They make recommendations on monetary policies...The IMF works with the World Trade Organization and works with the United Nations. The United Nation is the one that has the sanctions on Iraq right now. People are going 'no they don't'. Yes they do...the CBI sets the rate under the guidance of the IMF and WTO. It does no good for the rate change if the UN doesn't allow them to be recognized internationally...once the CBI makes the rate change the currency must be recognized internationally. If the GOI had their way the rate would have been set exactly at $3.22. They have been bugging for year to have their rate reinstated...
3-23-2020 Intel Guru Frank26 Question: "Is it a coincidence that starting April 6th they're going to start sending out stimulus checks and on that same date all other countries have to stop using the dollar? ...I find this April 6th fascinating...
3-23-2020 Newshound Guru Breitling ...you and I are in an absolute phenomenal position...I've been getting emails asking 'How did you know it [oil] was gonna get down to $26 barrel?' ...This is a direct cause by policy. It doesn't matter if the coronavirus came out or not. The coronavirus accelerated it 100% in my mind...we knew we were gonna get to $26 a barrel...
3-23-2020 Newshound Guru Pimpy I agree with Trump. Once we get out of this coronavirus thing our economy is going to slingshot IMO...Trump thinks we're gonna be out of this by April. Well one of the things you could do is change the rate of the Iraqi dinar. We know people are holding it including countries everywhere. You can give the appearance of a stimulated economy...
3-23-2020 Intel Guru Frank26 ....one, two, three are the things we've dreamed about for years in order to raise the value of the currency. Security. Stability. Stop the auctions and they're not using the American dollar...if I was Steven Spielberg I don't think I could have even come up with a greater scrip than this for a Hollywood movie. 1-2-3 and then go to the bank honey!
3-23-2020 Newshound Guru Breitling Iraq can't just add value for no reason. Because any country could just add value to their currency. Why can Iraq add value? Because they are artificially below...it's not a foreseen thing, 'oh, Iraq is just going to add value to their currency.' No. They're correcting the value of their currency. That's actually the correct term. The Iraqi dinar is not at its correct value. They are artificially keeping it low because based on their supply times velocity and how they back up their currency they just print more currency and the value goes down. We have articles that specifically say that. What happens when they pull currency out of their markets? Their value goes up...It's not a far fetched thing that Iraq needs to add value to their currency. A. It's correcting the value of their currency. B. They need to because they have no options...
3-23-2020 Intel Guru MarkZ [if martial law is declared would we be able to go to the bank for exchanges?] Im still hearing that with our 800 numbers, via email we will get our travel documentation to exchange...according to sources and what they are told …we really are “any day now”. does this mean this week or this month….we just don’t know.
3-23-2020 Newshound Guru Jeff ...we know that they're not gonna want people coming into the banks regarding the whole coronavirus especially with the lock-downs...we ultimately know that the Trump Administration is in charge and then we know that Iraq's economically is going to start suffering if the rate doesn't change. There could be a solid chance that Iraq and Trump have met in the middle of this. Maybe they agreed to change the rate IMO tentatively agreed to change the rate during the month of April. Because April will start the new fiscal year...it gives the US a chance to implement a lock-down process for say two to three weeks...there could be a good chance they've selected the first half to the middle of April to change the rate...
3-23-2020 Newshound Guru Pimpy ...I got in a dispute with somebody. He keeps telling me that the IMF controls the rate of the Iraqi dinar. They don't control the rate. They make recommendations on monetary policies...The IMF works with the World Trade Organization and works with the United Nations. The United Nation is the one that has the sanctions on Iraq right now. People are going 'no they don't'. Yes they do...the CBI sets the rate under the guidance of the IMF and WTO. It does no good for the rate change if the UN doesn't allow them to be recognized internationally...once the CBI makes the rate change the currency must be recognized internationally. If the GOI had their way the rate would have been set exactly at $3.22. They have been bugging for year to have their rate reinstated...
3-23-2020 Intel Guru Frank26 Question: "Is it a coincidence that starting April 6th they're going to start sending out stimulus checks and on that same date all other countries have to stop using the dollar? ...I find this April 6th fascinating...
3-23-2020 Newshound Guru Breitling ...you and I are in an absolute phenomenal position...I've been getting emails asking 'How did you know it [oil] was gonna get down to $26 barrel?' ...This is a direct cause by policy. It doesn't matter if the coronavirus came out or not. The coronavirus accelerated it 100% in my mind...we knew we were gonna get to $26 a barrel...
Catnip's Corner:
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ARTICLE 1 (from PM Mahdi's website; posted only on Arabic side, not on English side)
ARTICLE 1 (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister Adel Abdul-Mahdi holds a broad meeting on protecting citizens from the effects of the Corona epidemic
The Prime Minister, Mr. Adel Abdul-Mahdi, held a wide meeting today, Monday, on measures to protect citizens from the economic, social and service effects resulting from the Corona epidemic.
The meeting discussed developments in the health situation in the country, the preventive and remedial measures used, expectations and preparations, and benefiting from medical expertise and efficiencies, in addition to assessing the economic situation, ways to secure the living needs and basic services for citizens, market stability, social protection and the requirements of the private sector.
The Prime Minister stressed the importance of the unity of plans and integration in implementation and speech, enhancing confidence and continuous follow-up, developing monitoring, examination, quarantine and health protection measures, and increasing coordination and cooperation between the various state institutions and citizens in order to overcome the crisis, as well as continuing cooperation with countries of the world to confront the epidemic.
During the meeting, working papers were presented that included a number of proposals to take the necessary decisions regarding them at the meeting and in the Cabinet.
Media office of the Prime Minister
23-March-20
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ARTICLE 2 (from Government of Iraq twitter account)
At the time this report was submitted, there are no new articles posted on the Government of Iraq twitter account.
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ARTICLE 3
The President of the Republic receives the Minister of Health and the United Nations representative to discuss the spread of the Corona epidemic and the measures taken as a result
3/23/2020 20:55
Baghdad
Today, Monday, President of the Republic Barham Salih received, at the Peace Palace in Baghdad, the Minister of Health and Environment, Jaafar Sadiq Allawi, the Special Representative of the Secretary-General of the United Nations, Jenin Henness Blaskhardt, and the representative of the World Health Organization in Iraq, Dr. Adham Ismail.
Saleh stressed, during the meeting, the importance of joining efforts among all to confront the Corona epidemic and increase coordination and cooperation between the various state institutions and citizens in order to overcome this pandemic, in addition to continuing cooperation with countries of the world to confront this virus.
He added that the epidemic has become a serious challenge to the entire world, and requires the concert and cooperation of all countries, international institutions and peoples to ensure the health and safety of all humanity.
He pointed to the efforts of the Ministry of Health and the medical staff in facing this epidemic and ways to reduce its effects and preserve the safety of all.
During the meeting, they discussed the health situation in the country and the preventive and remedial measures used to confront the Corona epidemic and limit its spread, in addition to evaluating the preparations and plans in place and benefiting from medical expertise and competencies in this regard.
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ARTICLE 4
Parliamentary Agriculture: The country witnessed a qualitative boom in the national product during the Corona crisis
3/23/23 13:52
[Baghdad-where]
On Monday, the Parliamentary Agriculture Committee revealed a qualitative leap in the national product that was achieved in the time of Corona.
Vice-Chairman of the Committee, Mansour Al-Baiji, said in a statement that [where] received a copy of it, “The country witnessed a qualitative boom by providing most of the agricultural and animal materials that pertain to citizen consumption during the current crisis the world is going through, including ours due to the outbreak of the Corona virus, which caused Close the borders and prevent the entry of goods into the country during the current crisis. "
He explained, "The Iraqi farmer and owners of animal fields have proven their ability to provide the food basket to the Iraqi citizen from the national product during the current crisis and this is achieved for the first time since the fall of the defunct regime and what is currently available in the markets is the best proof of that."
Al-Baiji added, "The dumping of the Iraqi markets after the fall of the defunct regime with goods, materials and agricultural products is a blow to the country's economy and destruction of the agricultural and industrial sector and made it a consuming country dependent on import, especially with regard to the food basket, but what happened now is to provide what the citizen needs from the food basket is a qualitative leap in terms of National Product. "
Al-Baiji added that "the Iraqi government is to provide full support to the agricultural and industrial sectors to revive them during the coming period and not to rely on oil as a basic resource for the country, especially since oil prices are experiencing a variation of decline and rise between one period and another, so it should not be relied upon and that supporting the national product is a lift to the country's economy and recovery during the period Coming. "
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ARTICLE 5
The provincial government extends the curfew until April 1
3/3/203 18:18
[Erbil-Wayne]
The Kurdistan Regional Government announced today, Monday, the extension of the curfew until the first of next April.
This came during the delivery of the President of the Kurdistan Regional Government, Masroor Barzani, a televised message to the citizens of the Kurdistan region on the crisis of the Corona virus.
In his televised message, Masroor Barzani called on citizens to take the issue of Corona virus "in a serious way" and to act in a spirit of responsibility towards this epidemic.
According to the Kurdish websites, Barzani said: Dear citizens of the Kurdistan region, I invite you to take the Coruna virus epidemic very seriously, and I invite you to fully comply with the directives and decisions of the Ministries of Health and Interior.
He added that "health teams, doctors, medical personnel, security forces and police are in the first line of defense against the virus and are working for the safety of your lives, so I hope that you will help them in this."
He continued, "The provincial government has taken many preventive measures and imposed a curfew until the first of April. I wish the citizens of the Kurdistan region to abide by it, not your lives alone, but the lives of your loved ones and your loved ones are also in danger in the event of not adhering to the imposed ban."
Barzani concluded his televised message, saying: "Together, with us together, we can face this epidemic. I wish safety to you and the Kurdistan region.
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