The exchange rate in Baghdad was 1461 dinars, or 146 thousand and 100 dinars for one hundred dollars, and yesterday's price was 1460 dinars.
In Basra Governorate, the dollar rose to 1,461.5 dinars, or 146 thousand and 150 dinars.
In Erbil, the dollar also recorded a rise and reached 1,463 dinars, or 146 thousand and 300 dinars
The Markets:
The Asian markets closed mixed Nikkei-0.58% Hang Seng+1.16% Shanghai Composite+1.43%
The UK markets are currently trading in the red from .14% to .73%
Our futures are currently trading in the the DOW at 31443 is down by .05% SNP at 3924 down by .08% NDX at 13736 down by .23%
Precious Metals:
Gold is red at 1788 Silver is red at 27.10 Copper is red at 381 Platinum is red at 1230
Brent 64 WTi 60
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1459.0000 | 1464.0000 | 1457.6000 | 1457.4000 | 1457.4000 | 0.3000 | 20:47 |
| USD/VND | 23010.0000 | 23018.0000 | 22997.9200 | 22993.2800 | 22993.2800 | 5.9300 | 00:21 |
| USD/CNY |  6.4575 | 6.4595 | 6.4576 | 6.4570 | 6.4571 | 0.0004 | 00:21 |
| USD/KWD | 0.3020 | 0.3030 | 0.3021 | 0.3020 | 0.3021 |  -0.0001 | 04:41 |
| GBP/USD | 1.3868 | 1.3869 | 1.3907 | 1.3862 | 1.3901 | -0.0033 | 05:15 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | -914.4000 | 07:13 |
| USD/IDR | 14079.0000 | 14085.0000 | 14090.0000 | 13985.0000 | 13996.0000 | 83.0000 | 05:11 |
Things in the News:
Iraqi Articles:
Financial Advisor: Rising oil prices will strengthen the financial leverage for Iraq
link
- Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that the government will benefit from the high oil prices in strengthening “the country's financial leverage,” while the Parliamentary Finance Committee stated that it will continue discussing the budget even with the imposition of a health ban.
Saleh said in an interview with the official newspaper and its independent affiliate, today, Wednesday, that “the break-even point in the budget requires that the average price of an annual barrel of oil exported abroad be at least $ 75- $ 80 a barrel,” indicating that “at that time the gap will be closed. The deficit completely. The sources of borrowing to meet the budget deficit are mostly automatically canceled.
He added that "the government benefits from the current high oil prices, which have reached more than what was written in the budget, especially with the country heading to closure again," stressing that "this will lead to strengthening the country's financial leverage to face the problems of social need."
For his part, the reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, explained that "the decision to ban the curfew due to the Corona pandemic will not affect the continuation of meetings and dialogues to resolve the budget file and vote on it because it concerns the fate of a country and is supposed to be resolved."
It is likely that "the end of the current week will witness the vote on the budget in the House of Representatives after it was completed by the Finance Committee. It is awaiting the results of the region’s delegation meetings to prepare the text for the region’s share of the budget."
Al-Kazemi receives a phone call from the US Secretary of State to discuss the bombing of Erbil airport
link
Prime Minister Mustafa Al-Kazemi received a phone call from US Secretary of State Anthony Blinken to discuss the bombing of Erbil airport.
US State Department spokesman Ned Price said in a statement followed by (Iraqi Media News Agency / INA) : Foreign Minister Anthony Blinken spoke with Iraqi Prime Minister Mustafa Al-Kazemi today, and the minister conveyed his discontent over Monday's multiple rocket attacks in Erbil and expressed his condolences to innocent Iraqi civilians The coalition personnel who were injured and the family and loved ones of the civilian contractor who was killed in the attack.
The minister encouraged Prime Minister Mustafa Al-Kazemi to continue working closely with the regional government to tackle violent extremists.
They discussed ongoing efforts to identify and hold accountable groups responsible for the attacks, as well as the Iraqi government's responsibility and commitment to protect US and coalition personnel in Iraq who are at the government's invitation to fight ISIS.
Highlight the items of the second part of the white paper
link
The government warned of the "dangers" of not adhering to the reform plans contained in the "white paper", noting that the paper works to create the appropriate conditions for the country's economy to recover and grow.
The paper is divided into two parts, the first in "Governance of the reform program, including the structures and processes responsible for overseeing, follow-up and evaluation of the implementation of the plan, and linking the program with the executive body of the state to ensure the availability of the necessary powers."
As for the second section, it "included transferring the components of the white paper to the reform program, which includes a group of projects, the number of which reached 64, each of which includes a set of objectives that lead the process of their implementation in an integrated manner to the completion of each project, and the projects are integrated with each other to complete the reform program as a whole." .
The white paper enjoys the full support of the international community, which is embodied in the establishment of a special committee for support called "The Economic Contact Group for Iraq IECG ", whose mission is to provide support for the economic reform process in Iraq within the framework of the White Paper.
This group includes the seven industrialized countries, the G7, the World Bank and the International Monetary Fund, in addition to the European Union.
This group was established following the prime minister's visit to Britain, and one of the primary tasks of this group is to coordinate the appointment of international specialists and advisors to assist the Iraqi government in the basic areas of reform, and whenever there is a need for technical and administrative assistance.
According to the paper, international support provides important opportunities to benefit from advanced international expertise in various areas of implementing the reform plan, as well as providing the appropriate conditions to facilitate support for international institutions to deal with the various complications that may accompany the implementation process.
The paper recommends "the existence of representation of the Economic Contact Group for Iraq and the World Bank in the Supreme Committee for Reform by representatives who do not have the right to vote, and in a manner that is closely coordinated by the continuation of international support for the plan."
The paper also recommended the formation of a high-level committee of economists and statesmen, to provide advice to the implementation team on the strategy that affects the trends of the Iraqi economy.
The paper stated that the committee may meet quarterly, or when needed, to evaluate the pathways for implementing the reform plan, and to suggest remedies and amendments that may be required by the plan. The number of members of the committee does not exceed 10 persons from different countries and experiences of different proven success. "
Over a period of 4 years, the paper aims to complete 64 projects and reduce the budget deficit to 3% from 20%, in addition to liquidating the losing government companies and reducing financial support for public companies by 30%.
It also aims to reduce the salary bill from 25% to 12.5%, reviewing the salary scale for employees, as well as ending reliance on imported gas and investing associated gas instead of burning it and implementing gas licensing mobile contracts.
The paper seeks to reform the collection of electricity wages by re-activating the privatization of taxation companies, and their inclusion in uncovered areas, in addition to other goals.
Parliamentary Finance sets the date for voting on the 2021 budget
link
The Parliamentary Finance Committee set, on Wednesday, the date for voting on the 2021 budget.
A member of the committee, Ahmed Hama Rashid, said in an interview with the Iraqi News Agency, which was followed by Al-Eqtisad News, that "the remaining issue in the draft budget law relates to the region’s share," noting that "the Kurdish component, including the opposition, accept the government text that was agreed upon but not So far, an agreement has been made to amend this paragraph or replace it with a new text. "
Rashid pointed out, "It is possible to resolve this issue within the next 48 hours, and that the vote on the budget bill will take place next Thursday or early next week," stressing that "there are positive signs, but no agreement has yet been reached on a final version of the text.
The Minister of Finance announces the launch of the new experiment in the comprehensive banking system
link
On Wednesday, Minister of Finance, Ali Abdul-Amir Allawi, inaugurated the Al-Alawi branch in the Rafidain Bank, according to the comprehensive banking system.
The ministry’s media office said in a statement received by Al-Iqtisad News that, “Under the auspices of the Minister of Finance, Al-Rafidain Bank opened the Al-Alawiya branch in Al-Firdous Square in accordance with the comprehensive banking system.”
Allawi said, during the opening, according to the statement, that "the new branch is part of the development plan pursued by the Ministry of Finance by adopting modernity and development in the application of the banking system," adding that "this branch represents the real breakthrough towards popularizing the new experience in all Iraqi banks."
The statement emphasized that "the departments of the Ministry of Finance are working diligently and continuously to improve the quality of services provided to citizens."
The opening was attended by the General Director of Al-Rafidain Bank, the branch manager and the bank’s staff.
another version
The Minister of Finance, Ali Allawi, inaugurated the comprehensive electronic bank application system project at Rafidain Bank.
The bank said in a statement that the opening ceremony was attended by the Minister of Finance, Director General of Al-Rafidain Bank and other personalities.
He indicated that this system is a positive initiative in the application of electronic work in the bank, away from the traditional paper-based methods.
CBI Update: Just a note:
They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is
here.
Click on the link above for the latest update.
The CBI for rate is 1460
The currency auction For February 17, 2021 total sales amount $54,668,275.
ISX Update:
www.isx-iq.net/
Shares Traded: not updated for today
Value Traded: not updated for today
https://www.dinarguru.com/2-16-2021 Newshound Guru Jeff Since December to now, mid-February, both the World Bank and the IMF have shown their face more than they have before. Why? It's because both the World Bank and the IMF are bringing Iraq to the finish line...both the World Bank and the IMF are working with Iraq to bring their economy and country to the international world...
2-16-2021 Intel Guru Frank26 Article: "Iraqi government to begin implementation phase of the white paper for economic reform" What's in the White Papers IMO? A rate...those that are coming in that are going to rebuild economically the country of Iraq you think they've been shown this new exchange rate? IMO hell yes! Quote: "The Iraqi government is preparing to begin the implementation phase of its reform program known as the White Paper for Economic Reform." ...the implementation mechanism of the new exchange rate. The white papers are coming out. IMO you know what's in them. You can see the only way to launch, explode, implement the economic reform is by what? First having the monetary reform...2-16-2021 Newshound/Intel Guru Mnt Goat Article: "AN ECONOMIST: THE FORMATION OF A COMMITTEE FOR ECONOMIC REFORM IS A GOOD AND UNPRECEDENTED STEP TO IMPLEMENT THE PROVISIONS OF THE WHITE PAPER" did you read it? I quote “FORMATION OF A COMMITTEE FOR ECONOMIC REFORM IS A GOOD AND UNPRECEDENTED STEP TO IMPLEMENT THE PROVISIONS OF THE WHITE PAPER.” Yes, an UNPRECEDENTED STEP.2-16-2021 Intel Guru MarkZ [via PDK] [Mark how close are we to the RV in your opinion?] I think between now and the first week of March. I am leaning towards the month of February if you want to know my gut feeling. Just my guess…Still more news from Iraq about the lifting or raising the value of the dinar so they can remove the 3 zeros…this was published in 3 different publications in Iraq over the weekend...the news out of Iraq is phenomenal…2-16-2021 Newshound Guru Jeff This is not pegged to our calendar. This is pegged to God's Hebrew calendar. Iraq implemented a 90-day tool on December 20th to reduce the 3 zero note count in the country of Iraq...that 90-day step ends Sunday March 21st. The first month of the Hebrew new year is their 7th month. It's the month of Nisan...2-16-2021 Intel Guru Frank26 Article: "Is there a threat to hard currency reserves? The Central bank explains" They're telling you they not only have enough to back up their hard currency but also their digital currency...they are trying to tell you they have a new exchange rate...It's right in front of your eyes.2-16-2021 Intel Guru MarkZ We are seeing the 2021 Budget coming out in Iraq …they have to have a value for it and it has be in effect by April 1st. No new value in Iraq over the weekend like I thought there might be but there are articles out now about deleting the 3 zeros to raise the value of the dinar and the de-dollarization of their economy and that they would be competing internationally. I believe we are close and have been waiting for this. I am looking for things to take off at break-neck speed now. When we think things are not happening…there are a lot of things happening in the background.
Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Council of Ministers holds a regular session headed by Prime Minister Mustafa Al-Kazemi
Today, Tuesday, the Council of Ministers held its regular session chaired by the Prime Minister, Mr. Mustafa Al-Kazemi, during which a number of topics included in its agenda were discussed, as well as the developments in the security situation in the country, and the attack that affected the city of Erbil, where Mr. Al-Kazemi confirmed that the terrorist act In the Kurdistan region, he aims to shuffle the cards and destabilize.
The Prime Minister, Mr. Mustafa Al-Kazemi, confirmed that he had directed a joint investigation between the federal government and the regional government regarding the incident and the arrest of criminals.
His Excellency referred to the efforts of the heroic security forces, which managed to arrest the criminal gang involved in the killing of a number of citizens in Basra, indicating that the government will not forget the blood of citizens and is determined to proceed with the pursuit of criminal gangs.
Mr. Al-Kazemi stated that the government is making great efforts to calm the situation in the region and keep the country away from any conflicts, indicating that Iraq will not be a back garden for it.
The Minister of Health and Environment gave a presentation on the developments of the work of the committee to strengthen government measures in the areas of prevention and control of health and awareness regarding limiting the spread of Corona virus, and the efforts of the Ministry of Health to confront the escalating increase in infections among citizens.
After the Council of Ministers discussed what was included in its agenda, it issued the following decisions:
Firstly/
1- Authorizing the Ministry of Health to sign the special agreement with the companies producing the vaccine, and it includes that the aforementioned companies will not bear any compensation or fine resulting from preparing and using the vaccine.
2- Allocating an amount of (100) million dollars to cover contracts for laboratories, medicines and supplies related to Covid-19 disease, other than vaccines, from the World Bank’s portfolio for stalled projects in Iraq.
3- Allocating an amount to provide (300) ambulances through the Ministry of Industry and Minerals, provided that one of the loans be paid from the World Bank in coordination with the Ministries of Finance and Planning to choose the loan.
Second - Approval of the referral of the project of neonatal intensive care services to the (GE) company, with the exception of the controls and instructions, provided that the amount is paid from the World Bank in an estimated amount ($ 45 million), provided that the contract is made by the Ministry of Health / Public Marketing Company Medicines and medical supplies, according to the technical specifications of the advisory committees, in order to reduce the mortality rate among newborns in the various governorates of Iraq.
Third - Granting the Minister of Health the authority to exempt from the curfew procedures stipulated in Paragraph (1) of the Supreme Committee for National Health and Safety Decision No. (5 of 2021), and this is exclusively for the necessary categories and cases, based on a request from the competent minister or the head of the non Associated with the Ministry.
- Excluding the Premier League football competition from the measures to confront the Coronavirus pandemic and allowing it to continue without an audience.
Fourth - Adoption of the Ministerial Council for Energy recommendation No. 7 of 2021, according to the following:
The Ministry of Oil undertook to finance the Ministry of Finance account from the profits of oil companies in the amount of (10,000,000) dollars, only ten million dollars, for the purpose of opening the documentary credit from the Iraqi Trade Bank without delay, to ensure the achievement of the goal of providing electrical energy to Nineveh Governorate.
Fifth - The Ministry of Water Resources amending the instructions issued to facilitate the implementation of the decision (80 of 1999), the introduction of services installed in the draft law of the Water Resources Fund in the instructions, and the distribution of wages proceeds by allocating the state treasury's share of the resources resulting from the provision of those services by making it (20% Instead of the enforceable provision according to which all wages are transferred to the public treasury.
Sixth - Authorizing the Minister of Electricity to negotiate and contract with one or more specialized companies to equip and install prepaid meters as a minimum (100 thousand) housing units to be selected by the Ministry of Electricity, with the exception of the instructions for implementing government contracts No. (2) for the year 2014, and the instructions Implementing the general budget when it is approved.
Seventh - Approval of the recommendation of the National Investment Commission according to the following:
1- Approval of the announcement issued by the Ministry of Electricity regarding the investment of seven electrical stations to generate alternative energy at a rate of (755) megawatts in the governorates of (Holy Karbala, Wasit, Babel, and Muthanna) without announcing them on the website of the National Investment Authority in accordance with paragraph (3) of the axis The second from Cabinet Resolution (245 of 2019).
2- The National Investment Commission took the necessary measures to proceed with the referral steps.
Eighth - Mrs. Hayam Nemat Mahmoud / Minister of State, will represent the government in the House of Representatives and clarify the decisions of the Council of Ministers before the House of Representatives and its sectoral committees.
Ninth - The authorization for media and journalism workers shall be granted by joint operations instead of the Ministry of Health, to reduce pressure on the Ministry of Health in confronting the Corona pandemic.
Media Office of the Prime Minister
February 16-2021
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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi receives a phone call from the Secretary-General of the North Atlantic Treaty Organization (NATO)
Today, Tuesday, Prime Minister Mustafa Al-Kazemi received a phone call from the Secretary-General of the North Atlantic Treaty Organization (NATO), Mr. Jens Stoltenberg.
During the call, they discussed joint cooperation between Iraq and NATO and ways to enhance it, especially with regard to providing support to the Iraqi security and military institutions in the areas of training, advice, and intelligence cooperation, in accordance with the priorities and directives of the Iraqi government and in a way that preserves the sovereignty of Iraq.
Mr. Al-Kazemi stressed the importance of developing cooperation with NATO, in light of the Iraqi security forces continuing their military operations in the face of terrorism and pursuing the remnants of ISIS terrorist gangs.
For his part, NATO Secretary General Jens Stoltenberg praised the Iraqi government's steps in the field of combating terrorism, stressing the continuation of NATO's support for Iraq in efforts to pursue terrorist organizations, and Stoltenberg expressed the admiration of the (NATO) countries for the government's steps in its commitment to the reform approach it adopted and went on to implement it. To advance the reality of the country.
Media Office of the Prime Minister
February 16-2021
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ARTICLE 2 (from Government of Iraq twitter account)
2-16-2021 around 1:45 pm Eastern The Minister of Health: There will be penalties for any violation of these decisions which include a ban on gatherings, the mandatory wearing of face masks in public places and total and partial curfews starting at 8 PM this Thursday 18/2/2021, and other restrictions.
The Minister of Health: Teams from the Ministry of Health, working in cooperation with the security forces, began to implement the decisions of the Higher Committee for Health and National Safety.
The Minister of Health: I briefed the Cabinet today on the latest health developments, including the detection of one of the new Covid-19 variants in Al-Karkh in Baghdad as well as in Karbala and Najaf provinces and in other areas.
Cabinet Spokesperson: At today’s Cabinet meeting, PM @MAKadhimi
thanked our security forces following the arrest of members of a criminal gang known as ‘the death squad’ in Basra who are responsible for acts of murder and terrorism in the province. *************
ARTICLE 3
Nine parliamentary proposals on the budget law
2/16/2021 15:07
[Baghdad-Where]
The head of the parliamentary government program monitoring committee, Hazem Al-Khalidi, presented, on Tuesday, a set of observations on the draft budget law.
The notes are as follows:
First: We reject the proposal of the Finance Committee that holds citizens of residential neighborhoods that do not have an electricity network and the financial implications of establishing those networks by private sector companies.
Second: We refuse for the citizen to bear the cost of changing the overhead distribution networks to land networks, which are paid as dues to the private sector companies that implement this.
Third: We demand to oblige the Ministry of Electricity to re-negotiate investment contracts for electric power production stations in a way that removes unfairness from the Iraqi state.
Fourth: The Financial Committee suggested not to promote any transaction in state departments in the event of non-payment of water and electricity bills, and it is correct that it is not met by those covered by social protection, the poor and the limited income.
Fifth: The Finance Committee proposed a new tariff for water wages of 250 dinars per cubic meter, and we suggest that those covered by social protection, the poor and those with limited income be excluded from these changes.
Sixth: The Finance Committee suggested rescheduling the installments for those who purchased state real estate in the liberated areas. We suggest distinguishing between citizens and officials who purchased those real estate. Those responsible for rescheduling should not be included from paying installments, nor are they exempt from late fines.
Seventh: The Finance Committee suggested exempting mixed sector companies from paying customs duties for raw materials, while the government text only includes the public sector with exemption from customs duties. Thus, the committee’s proposal is inconsistent with the principle of revenue maximization because it will excrete revenues that can be collected from customs duties imposed on mixed sector companies Public sector companies and contractors.
Eighth: We reject the proposal of the Finance Committee to withhold the ration card from the family whose income is one million dinars, and we suggest that the blocking be for those whose monthly income exceeds two million dinars.
Ninth: The Financial Committee suggested that new investment projects in the governorates, whose cost do not exceed (5) billion dinars, be exempted from instructions for implementing government contracts, including the procedures for announcing and referring to those projects, which means the absence of transparency, oversight, and verification of the efficiency of companies that are contracted. With her to implement those projects.
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ARTICLE 4
Al-Kazemi: The terrorist act that targeted the Kurdistan region aims to create chaos and shuffle the cards
2/16/2021 16:00
[Baghdad-Where]
Prime Minister Mustafa Al-Kazemi confirmed, on Tuesday, that the terrorist act that targeted the Kurdistan region aims to create chaos and shuffle the cards.
Al-Kazemi said during the cabinet session, that "the terrorist act that targeted the Kurdistan region aims to create chaos and shuffle the cards and comes with the great efforts made by the government to calm the situation in the region and keep the country away from conflicts and that Iraq is not a back garden for it."
He added, "We have directed a joint investigation between the federal government and the regional government to arrest the criminals."
Regarding the arrest of death squads in Basra, Al-Kazemi explained, “Our heroic security forces managed to arrest the gang (death squads) that killed a number of citizens, activists and media workers in Basra, and the government will not forget the blood of citizens and those who killed them, and they are determined to move forward. In this aspect. "
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ARTICLE 5
Al-Kaabi: Updating the electoral card is a guarantee of the success of the elections
2/16/2021 14:52
[Baghdad-Where]
The First Deputy Speaker of Parliament, Hassan Al Kaabi, confirmed, on Tuesday, that the process of updating the electoral card is an important step that will enable all voters to vote in the upcoming elections and ensure the success of the electoral process.
A statement by the First Deputy Speaker of Parliament stated, "Al-Kaabi has updated his biometric electoral card, in response to the invitation of the Independent High Electoral Commission for the Iraqi people, and in preparation for the upcoming important early elections."
Al-Kaabi stressed, according to the statement, "the necessity to update the personal data of the voters' records to obtain the biometric electoral card."
He added, "The modernization process is an important step that will enable all voters to vote in the upcoming elections and ensure the success of the electoral process and give it full legitimacy away from cases of fraud and manipulation."
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