WOTS TUE FEB 15 21
These are the articles are discussed at the MyFX Buddies Podcast at: https://anchor.fm/dashboard/episode/eqha2u
The International Coalition announces the killing of a civilian contractor, the wounding of 5 contractors, and the wounding of an American soldier in the Erbil attack
link this is breaking news right now more details will come out later but this is not good
International Coalition: A civilian contractor was killed, 5 contractors were wounded, and an American soldier was wounded in the attack on Erbil
An economist warns of a decline in the citizen's purchasing power as the dollar’s exchange rate continues to rise
Economic expert, Wissam Al-Tamimi, warned of the decline in the purchasing power of the Iraqi citizen in light of the continued high exchange rate of the dollar in the local markets, pointing out that the government is seeking to drain the money inside homes, which will increase the suffering of the citizen in the coming days.
Al-Tamimi told "the information", "Talking about the presence of 34 trillion dinars inside homes is something that the government has exploited in an attempt to obtain these sums by raising the exchange rate of the dollar against the dinar."
He added that "the purchasing power of the citizen and the owners of the market shops will decrease significantly, due to the continuing rise in prices, especially since many merchants emphasized the continued rise in food prices without any government control over this rise."
And that "the coming days will witness a significant increase in poverty rates, as the government's continued disregard for the demands of the people will have disastrous results on the economic level for the individual and even the employee, as it should reduce the dollar exchange rate with the continued rise in oil prices."
parliament finance announces the date for voting on the budget law
link so now we're back to Thursday hmmm
Today, Tuesday, the Parliamentary Finance Committee set the date for voting on the 2021 budget.
The committee’s reporter, Ahmed Al-Saffar, said that “the committee has completed the draft budget, and is awaiting the results of the region’s delegation’s meetings to prepare the text for the Kurdistan quota.”
He suggested that "the voting session on the budget will take place during the next two days," noting that "the meetings with the Kurdistan region delegation are still continuing to reach a final agreement that satisfies all parties.
The WOTS report is below:
According to a reporter for The Shafq News Agency, the Central Al-Za'ayd and Al-Harthiya Stock Exchange in Baghdad recorded 146,100 Iraqi dinars today for $100.
The Central Struggle Stock Exchange opened at 145,900 Iraqi dinars on Monday morning for $100.
Our correspondent pointed out that the prices of buying and selling increased in the banking shops in the local markets in Baghdad where the selling price reached 146,500 Iraqi dinars, while the purchase price reached 145,500 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar also rose, with the selling price of 146,200 dinars per 100 dollars, and the purchase at 146,000 dinars per 100 U.S. dollars.
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1433.0000 |  1482.4000 | 1457.9000 | 1457.9000 | 1457.9000 | 0.1000 | 06:09 |
| USD/VND | 23010.0000 | 23020.0000 | 23004.5700 | 23004.5700 | 23004.5700 | 0.4300 | 01:30 |
| USD/CNY |  6.4565 | 6.4585 | 6.4576 | 6.4565 | 6.4576 | -0.0011 | 00:42 |
| USD/KWD | 0.3018 | 0.3028 | 0.3021 | 0.3019 | 0.3021 | -0.0002 | 05:01 |
| GBP/USD | 1.3931 | 1.3933 | 1.3951 | 1.3898 | 1.3898 | 0.0033 | 05:22 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | -914.4000 | 07:13 |
| USD/IDR | 13935.0000 | 13940.0000 | 13954.0000 | 13726.0000 | 13842.0000 | 100.0000 | 05:22 |
With Mardi Gras canceled, New Orleans residents are making their homes into floats...
New skin patch promises comprehensive health monitoring...
Oil prices jump with strong stardom in America shut down oil wells
Oil prices rose Tuesday, after a worsening u.S. energy crisis disrupted crude production and forced the closure of some of the country's largest refineries, and prices rose on optimism about the recovery of the global economy amid accelerated release of COVID-19 vaccines.
Brent crude rose 35 cents, or 0.6 percent, to $63.65 a barrel at 0509 GMT after climbing to its highest level since January 2020 in the previous session.
West Texas Intermediate (WTI) crude futures rose 77 cents 1.33% to $60.29 a barrel.
Cold weather in the United States halted oil wells and refineries in Texas on Monday and imposed restrictions on natural gas operators and crude pipelines.
The rare deep freeze prompted the state's power suppliers to impose power outages, resulting in power outages for nearly 3 million homes and businesses.
Texas produces nearly 4.6 million barrels of oil per day and is home to 31 refineries, the largest number of any U.S. state, according to Energy Information Administration data, including some of the nation's largest refineries.
The World Health Organization (WHO) on Monday introduced a vaccine against the new coronavirus (COVID-19) of Oxford University and AstraZeneca for emergency use, expanding access to the relatively inexpensive vaccine in the developing world.
Unilateral production cuts in Saudi Arabia have also helped to rise by more than 20% this year, as bloated global stocks have been withdrawn even as the intractable CORONA virus continues to increase closure.
parliament finance announces the date for voting on the budget law
link so now we're back to Thursday hmmm
Today, Tuesday, the Parliamentary Finance Committee set the date for voting on the 2021 budget.
The committee’s reporter, Ahmed Al-Saffar, said that “the committee has completed the draft budget, and is awaiting the results of the region’s delegation’s meetings to prepare the text for the Kurdistan quota.”
He suggested that "the voting session on the budget will take place during the next two days," noting that "the meetings with the Kurdistan region delegation are still continuing to reach a final agreement that satisfies all parties.
Deputy: The problems are big, and the budget will not pass in the current month
Deputy Muhammad al-Khalidi said, on Tuesday, that there are major problems that must be solved before going to approve the budget, indicating that these problems may postpone the vote until the end of the month, if resolved.
Al-Khalidi said in a press interview, "The negotiations for passing the budget have not started yet and there are several problems before going to vote on it," indicating that "the government has not yet responded and has not given its official position on the budget amendments made by the Parliamentary Finance Committee and may object to some items and amendments." .
He added that "the share of Kurdistan and the proportions of oil exported and received from Erbil to the SOMO company, as well as loans, salary cuts and other items all need adjustments and this takes time."
Khalidi suggested that "the budget will be passed at the end of this month in the event that there is an agreement, especially after the
completion of the parliamentary finance duties and its distribution to the various political forces
Al-Nusiri calls on the government to preserve hard currency and prevent its leakage to the outside
The economic and banking advisor, Samir Al-Nasiri, confirmed, on Tuesday, that hard currency in Iraq is still subject to leakage outside the country and called on the government and its specialized economic institutions to take measures, mechanisms, and economic, financial and monetary policies.
Al-Nusiri said in an interview with "Al-Eqtisad News", that the foreign currency will not return due to unplanned and uncontrolled imports of consumer and unnecessary goods and goods from poor origins and outside the Iraqi standard specifications, while putting forward a set of proposals that would preserve the hard currency that Iraq needs in His current crisis he is going through.
He added that Iraq since 2003 until now has not stimulated and activated the productive sectors such as industry, agriculture, energy and tourism, and the local product, which is the basis for determining imports, has not been supported, indicating that import is a complement to local production and not a substitute for it, but after the opening of borders and markets and the entry of poor imported materials at prices. Low compared to the local product due to the lack of security of raw materials and government support, which led to the exit of hard currency, mainly through imports of the private sector.
Al-Nusiri stated that the best solution to preserve hard currency is for the government to support local production and activate the laws to protect the local product and protect the consumer, which are laws that have been on the shelves for years and have not been activated, stressing the importance of providing raw materials and electricity to the factories, structuring government factories and engaging the private sector. In its management.
He continued that Iraq without local products that match the importer cannot maintain its hard currency as required, pointing to the need for the government to address the structural imbalance in the economy, activate the productive sectors, and address the deficit in non-oil revenue and the deficit in the balance of payments and the trade balance.
"We are a country that does not have a clear economic approach, and the private sector has not been involved in making economic decisions, which requires and must be supported by the government," Al-Nusairi said.
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
The Iraqi government is preparing to begin the implementation phase of its reform programme known as the White Paper for Economic Reform.
This phase will focus on the implementation mechanisms and on the fulfilment of the objectives and the vision outlined by the White Paper.
The implementation phase consists of:
- Putting in place governance, oversight, monitoring and evaluation mechanisms to ensure that the reform process is administrated and managed effectively under the direction and guidance of strong and competent leadership which will have a direct link to the Prime Minister, with the aim of equipping the implementation team with the necessary authority to carry out the reform programme, providing vigorous oversight of the implementation process, and ensuring coordination between different governmental institutions
- Translating the vision of the White Paper for Economic Reform into a practical programme for delivering 64 projects and for ensuring their implementation in an integrated and coherent manner by specifying detailed procedures for each project, setting a specific timeline for progress and identifying the state entity which will be responsible for carrying out each project
The Iraqi government adopted the White Paper for Economic Reform prepared by the Crisis Cell for Financial and Fiscal Reform in October 2020.
The White Paper is a comprehensive programme that sets out a clear roadmap to reform the Iraqi economy and address the accumulated, decades-old serious challenges that confront it.
The White Paper identified two overarching strategic objectives. The first is to initiate an immediate reform programme to address the budget deficit to create a fiscal space to give time for the process of implementing the other wider reforms over the medium term.
The second objective is to put the economy and the federal budget on a sustainable path, after which Iraqis can decide and choose the economic direction of the country.
The White Paper anticipates that the short and medium-term objectives and associated reforms will require between 3 to 5 years to implement.
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