These are the articles that I discussed on the My FX Buddies Podcast at https://anchor.fm/dashboard/episode/etm4f2
CURRENT IRAQI DINAR PEG WILL CONTINUE FOR NEXT FOUR YEARS: OFFICIAL
alright, here is the actual article and it does indeed appear to say Peg but it still is a little weird. usually when peg is used it pertains to pegging to the dollar not the exchange rate that is what I hope this means pegged to the dollar not to the exchange rate
SULAIMANI —Director of the Department of Financial Operations and Debt Management of Iraq’s Central Bank Mahmud Dagher said on Wednesday (March 24) that the price of US dollar against Iraqi dinar will be fixed at the current price for the next four years.
During an appearance in NRT’s Tawtwe interview program, Dagher said that the Council of Representatives does not have the authority to make changes in the price of US dollar.
$100 was at 144,750 Iraqi dinars as of Wednesday evening.
The devaluation of dinar, which was included in the federal government’s draft 2021 budget, was designed to preserve Iraq’s dollar reserves and allow the government to spend more Iraqi dinars.
The move however made imports and goods originally priced in other currencies, like hydrocarbons, more expensive.
On Sunday, Governor of the Central Bank of Iraq Mustafa Ghalib said that the devaluation of the Iraqi dinar this winter enhanced the country’s financial sustainability because the move increased country’s foreign currency reserves and strengthened its public finances.
Baghdad wakes up to a show of force for a pro-Iranian militia
Amidst the striking official silence about the armed militia parade, which was met with widespread condemnation and criticism, the spokesman for the Joint Operations Command, Major General Tahsin al-Khafaji, said in statements: “We were surprised by the clips (about the military parade) on social media, and the intelligence and security effort began to find out the reasons." . Al-Khafaji announced the end of the armed demonstrations. The Iraqi government has not issued any official statement about what happened (until the moment of preparing this report).
In turn; The "Popular Mobilization Authority" categorically denied the existence of any military movement of its units inside the capital, Baghdad, and said in a statement: “(The Commission) confirms that the movements of (the crowd) come within the orders of the Commander-in-Chief of the Armed Forces and in coordination with (the Joint Operations Command), and that the brigades ( The crowd) are called by numbers, not by other names, and its directorates carry the well-known official designations.
Interpretations varied about the goals behind the "Rubu Allah" parade in central Baghdad. In a statement, the militia warned that the government had not responded to four points; Among them was a "threatening message" to the United States of America. And threatened Prime Minister Mustafa Al-Kazemi with "retribution."
It also called on the Iraqi Council of Representatives to "reduce the price of the dollar against the Iraqi dinar." And she warned the politicians that she singled out the leader of the Kurdistan Democratic Party, Massoud Barzani, from "deliberately delaying and delaying the approval of the budget in order to obtain their own gains."
The leader of the "Sadrist movement", Muqtada al-Sadr, in a tweet on Twitter yesterday, implicitly referred to the issue of some parties benefiting from the previous dollar price, from which some banks were making huge profits, when he said: “One of the militias resorted to the military parade. The armed forces and the massive deployment in the beloved capital, Baghdad, for a demand such as the exchange of the dollar ».
He stated that "the decision to raise the dollar exchange has benefits and harms, and therefore we left its decision in the hands of specialists who are knowledgeable about economic matters, but the people should not be harmed much, especially with the presence of greed and high prices in the markets." Al-Sadr and his bloc in parliament support the government's actions by lowering the exchange rate of the dinar against the dollar.
Al-Sadr added that "resorting to weapons to fulfill the demands is unacceptable, and the government must prevent it from occurring again." These militias think that they will gain the people's sympathy for them. Both; Violence is beyond the sympathy of the people. ” Al-Sadr demanded the "Popular Mobilization Authority" to punish the party that conducted the show in the event that it belonged to the "crowd" or "declared innocent."
The "Peace Brigades" militia affiliated with Sadr, last February, conducted a military parade in Baghdad under the pretext of coordination with the government due to the presence of security threats, which insulted Al-Sadr's credibility and exposed him and his movement to wide criticism.
Away from the exchange rate issue; Some Iraqi trends believe that the parade of the "Rubu Allah" militia affiliated with "Kataib Hezbollah" aims to "disturb the atmosphere of the summit that brings Al-Kazemi together with Egyptian President Abdel Fattah Al-Sisi and Jordanian King Abdullah II next Saturday, and create a feeling of insecurity." The capital, Baghdad ». Some sources close to the Iraqi government say that "Tehran is very disturbed by the Iraqi - Egyptian and Jordanian rapprochement, so it moved its militias in Baghdad to destabilize it with the aim of influencing any potential rapprochement between Iraq and its Arab surroundings."
A source close to Al-Kazemi's government affirms that the latter is "aware of all the dimensions and movements of the militias that are trying to draw him into the bloodshed zone for which innocent people are paying."
Central Bank: The new exchange rate has made significant gains
The Central Bank of Iraq confirmed, on Thursday, that the new dollar exchange rate has made great gains.
The deputy governor of the Central Bank, Ihssan Shamran, said, according to the official agency, that "the bank is pursuing a quiet policy in the issues that people are discussing from their viewpoints, and does not enter discussions that affect expectations."
Shamran added, "The Central Bank believes that the new price has made great gains, the first of which is to enhance competitiveness in favor of national products, whether agricultural or industrial, in addition to strengthening the public finance resource, which is another goal of the decision. "
He explained, "It is necessary to enhance the stability of this decision and not to create shocks that would disturb citizens and affect the sustainability of their activities."
Text of the joint statement issued by the hypothetical meeting between Al-Kazemi and the King of Saudi Arabia
The Prime Minister, Mustafa Al-Kazemi, and the King of Saudi Arabia, Salman bin Abdulaziz, held a virtual meeting via video technology today, Thursday.
A statement by the Prime Minister’s Office stated that the Euphrates News Agency received a copy of it “based on the solid and historical fraternal ties and ties between the Republic of Iraq and the Kingdom of Saudi Arabia and their brotherly peoples, and to strengthen the bonds of relations between them, and their sincere desire to develop them in various fields, on solid foundations and principles in Presented by Arab and Islamic brotherhood, good neighborliness and common interests, and based on the generous invitation of King Salman bin Abdulaziz Al Saud, a virtual meeting was held today from a distance between Prime Minister Mustafa Al-Kazemi and King Salman.
The two sides noted “the well-established historical fraternal relations between the two brotherly countries and peoples, and praised the level reached by these relations and contacts between them.”
They also emphasized “the role of the Iraqi-Saudi Coordination Council in a way that serves the interests of the two countries and the two brotherly peoples and the importance of expanding and strengthening the horizons of bilateral cooperation in various fields, especially political, security, trade, investment and tourism, in order to complement the efforts made and the positive results achieved from the mutual visits of officials between the two countries during the past period.” .
Saudi Arabia appreciated the efforts of the Iraqi government to achieve security, stability and development in the Republic of Iraq, while the Republic of Iraq appreciated the initiatives provided by the Kingdom of Saudi Arabia to the Republic of Iraq in the field of confronting the Corona pandemic (Covid-19).
With regard to regional issues, the two sides agreed to “intensify cooperation, coordination, and exchange of views on issues and issues of concern to the two countries on the regional and international arenas, in a way that contributes to supporting and strengthening security and stability in the region, and the need to keep them away from tensions and their causes and the joint endeavor to establish security and stability pillars, and in this context.” Prime Minister Mustafa Al-Kazemi affirmed his support for the Saudi initiative to end the crisis in Yemen.
According to the statement, King Salman invited the Prime Minister to visit Saudi Arabia to meet Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, to discuss ways to strengthen relations between the two countries and the two brotherly peoples and discuss all issues of common interest, and for his part the Prime Minister expressed his appreciation And accept the invitation.
King Suleiman asked Al-Kazemi to “convey his greetings to his brother, the President of the Republic of Iraq, wishing him and the Prime Minister good health and happiness, and for Iraq more progress and prosperity.”
The Prime Minister also expressed his thanks and appreciation to King Salman and the Crown Prince, and his best wishes for good health and the Saudi people for further prosperity and progress. ”
SPECIAL FORCES ARE DEPLOYED AROUND THE GREEN WALLS IN BAGHDAD
Baghdad-Al-Sharqiya, March 26: Baghdad witnessed in late hours yesterday a heavy security deployment in implementation of the plan to secure the tripartite summit that will be held between Jordanian King Abdullah II and Egyptian President Abdel Fattah Al-Sisi and Prime Minister Mustafa Al-Kazemi in the Iraqi capital
. The green walls and the surrounding areas, while security sources reported that the streets that were blocked are Al-Saadoun, Bab Al-Sharqi, and the road leading to Tahrir Square and Karrada, and indicated that the security forces prevented all people from crossing those streets
Throwing a large force of the army at the entrances to the fortified Green Zone in Baghdad
On Thursday, the security forces in charge of protecting the Green Zone in central Baghdad reinforced their presence at the entrances to the area.
A security source informed Shafaq News Agency; The security forces have strengthened their presence at the entrances to the Green Zone, in anticipation of any emergency.
Source added; This security reinforcement comes after the armed deployment of elements of the Rubu 'movement in the center of the capital, Baghdad, and its threats against Prime Minister Mustafa Al-Kazemi.
The Arab European Center gives Ziad Khalaf an international award
The Arab European Center for Human Rights and International Law awarded the Chairman of the Board of Directors of the International Development Bank, Ziyad Khalaf, the International Prize for Economics and Banking Management .
An official ceremony was held to mark the honor at the representative office of the International Development Bank in Dubai on Thursday 3/25/2021 in the presence of the Iraqi consul, head of the Iraqi Private Banks Association, VIPs, ambassadors accredited in the Emirate of Dubai, the Secretary-General and executives at the Arab European Center, and the International Prize for Economics was presented. The management of banks and the scarf of peace and goodwill ambassadors from the Arab-European Center, which is based in the Kingdom of Norway and operates under the Charter of the United Nations, where this award was previously awarded to kings, presidents, ministers and prominent humanitarian figures, including King Abdullah bin Abdulaziz (King of Saudi Arabia) in 2011 and Sultan Qaboos bin Said (Sultan) Oman) in 2017 and General Michel Aoun (President of Lebanon) in 2016 .
This honor came in recognition of Mr. Ziad Khalaf's great efforts in achieving the principle of pioneering work and community cooperation in support of the economic development process in Iraq through the development of the banking sector and the adoption of the latest practices in contemporary banking and the personal follow-up to provide the best services that live up to international standards and enhance transparency, institutional governance and management. Wise .
During the ceremony, the Chairman of the Board of Directors was awarded a number of international certificates of appreciation in appreciation of the successes achieved, the most important of which are the shield of the International Prize for Economics and Banking Management, the Certificate of Peace and Goodwill Ambassadors of the Arab-European Center, the international membership cards and ambassador identification cards, the International Excellence Badge, and the Advisory Membership Certificate of the International Investment Commission. And high appreciation certificates from international bodies and academies, and the mantle of peace and goodwill ambassadors from the Arab-European Center for Human Rights and International Law .
It is noteworthy that this award is a high-level and first-class international award granted for the first time in 2021 to commemorate the efforts of leading and prominent personalities in the economic development sector and bank management and the most influential and tender in this field and those who have actively contributed to the field of promoting economic development in the world through initiatives and approaches that are compatible With international development standards
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