WOTS MON APR 26 21 Washington informs the Central Bank of Iraq its readiness to support its reform plans
These are the articles I discussed on the My FX Buddies Podcast
Representative Economy: Treatments for the rise in the exchange rate of the Iraqi dinar need "time"
Mubasher: The Parliamentary Economic and Investment Committee in Iraq confirmed, today, Friday, that the treatment of the exchange rate increase needs time.
MP Salem Al-Tafili, a member of the committee, told the Iraqi News Agency (INA) that the real treatments for the exchange rate increase need time to stabilize the market.
Al-Tufayli added that many deputies called for a reduction in the dollar’s price, not at the previous rate, but in a gradual manner so that the citizen would not be affected economically, indicating that the citizen with limited income and the poor was affected by the change of the exchange rate.
He pointed out that the budget supported the private sector and large projects in order to attract part of the workforce so that there would be a work movement, and that his committee presented a program and recommendations to the Prime Minister that included supporting the private, agricultural and industrial sector.
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A member of the Parliamentary Economic and Investment Committee in Iraq explained that his country has all the infrastructure to improve the agricultural and industrial reality, but it needs fair and efficient hands.
Rikabi: There are no government indicators to return the dollar's price to its previous era
The deputy for destroying the state of law, Kataa al-Rikabi, explained, on Saturday, that there are no indications to restore the exchange rate to its previous state, according to the existing data.
Al-Rikabi confirmed in a statement to / the information / that “according to the data found in the Ministry of Finance and the government, and despite the high prices, especially in the month of Ramadan, we do not see in Parliament efforts to restore the exchange rate to its previous era.”
"The government does not care about the people or the poor classes, and this decision has been taken and they believe that returning to the normal state of the dollar is very difficult and affects the economic situation of the country," Al-Rikabi said.
Al-Rikabi said, "Destroying the state of law rejected this decision and withdrew from voting on the budget because it does not meet the simplest requirements of the Iraqi people," noting that "this decision is unfair to the right of low-income classes in Iraqi society."
The Financial Committee: The Central Bank is the sole determinant of the exchange rate .. There is no shortage of funds and the problem of mismanagement and corruption
The Financial Committee's reporter, Ahmed Al-Saffar, said on Saturday that the Central Bank is the exclusive authority that has the authority to determine the exchange rate without any interference in its decisions, pointing out that the future of the Iraqi economy is in danger due to .the wrong policies
Al-Saffar said in a statement to local satellite channels that "the Central Bank of Iraq is the exclusive authority that possesses the authority of monetary policy in the country with its tools related to the currency exchange rate, cash reserves and open market operations without any interference from any ".party in its decisions to determine the exchange rate now and in the future
He added, "Iraq is the country most affected by the economic crisis because of the pandemic that led to a drop in oil prices, on which Iraq depends on ".financing the budget with more than 90% of oil revenues
Al-Saffar pointed out, "Iraq does not suffer from a shortage of money nor from any crisis, but the problem is mismanagement of public money and corruption that exists in all joints of countries," indicating that "the reason for the government's ability to obtain all its oil and non-oil revenues is what " .resulted from the policies. Wrong fiscal and economic governments after 2003
He explained, "Government mistakes made the economy rentier dependent on oil only while relying on foreign imports, which led to an increase in unemployment and inflation," stressing that "the government did not change the current financial and monetary policies, so the future of the Iraqi economy will be unsound and in danger, because there is." Alternatives to oil and their prices are now unknown and are changing due to international " .policies and events
Finance: Budget appeals have not delayed their implementation
The Ministry of Finance confirmed, on Sunday, that appeals to the general federal budget for the fiscal year 2021 will not delay their implementation.
The ministry stated in a statement that Mawazine News received a copy of, that it "announces the completion of the instructions for implementing the Federal Budget Law for 2021, approved by the Presidency of the Republic."
She added: “In view of the legislation and the publication of Law No. 23 of 2021, the federal state budget of the Republic of Iraq for the fiscal year 2021 in the Official Iraqi Gazette No. The Budget Department, on Monday, 4/26/2021, for the purpose of receiving instructions for implementing the general budget for the fiscal year 2021 and instructions for implementing the planning budget for the public sector and self-financed bodies and companies.
And she continued: "As the federal budget instructions for 2021 were completed after a final audit was conducted by the Ministries of Finance and Planning," stressing that "appeals to the budget will not delay their implementation."
Parliament Presidency meets with the Finance Committee regarding the budget
On Sunday, the Parliamentary Finance Committee held an expanded meeting with a number of governors to approve the budgets of the provinces.
A source told NRT Arabia, (April 25, 2021), that "the Financial Committee held its meeting in the presence of a number of governors, to approve the budgets of the provinces, as well as to complete the previous meeting related to discussing the implementation of the federal budget for the year 2021."
Earlier today, the Ministry of Finance announced the completion of instructions for implementing the Federal Budget Law for 2021, approved by the Presidency of the Republic .
In a statement received by NRT Arabic, a copy of it, the ministry called , “The spending units of ministries, governorates, bodies and entities not associated with a ministry to come to the Ministry of Finance / Budget Department tomorrow, Monday, for the purpose of receiving instructions for implementing the general budget for the fiscal year 2021 and instructions for implementing the planning budget for the public sector and the funded bodies and companies Self. "
An armed faction expects: The coming days will witness more painful incidents!
The so-called "Cave Friends" group expected, on Sunday, that the coming days will witness more painful incidents, after the fire of the "Ibn Al-Khatib" Hospital in Baghdad.
In a statement received by NRT Arabia, a copy of it (April 25, 2021), the group indicated that "the state is witnessing the hegemony of corrupt people who claim to serve Iraq and they are, in fact, the poor and exhausted financially and securely in Iraq."
"Economy News" publishes instructions to implement the 2021 federal budget
link it's in Arabic and 68 pages
Economy News publishes instructions for the 2021 Federal Budget Bill after it is published in the official fact sheet.
To read the learnings click here
Washington informs the Central Bank of Iraq its readiness to support its reform plans
On Monday (April 26, 2021), the US ambassador to Iraq expressed his country's readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq.
A Central Bank of Iraq statement, said that the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mkhaif , had received the US ambassador to Iraq, Matthew Toller.
The statement added that the governor of the bank discussed, during the meeting, ways of joint cooperation between the two countries in the monetary and economic fields, including emphasizing the importance of technical support and joint cooperation to advance the reality of the Iraqi banking sector.
In turn, the American ambassador praised the reform plan adopted by the administration of the Central Bank of Iraq towards the banking sector, expressing his country's readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq.
Here is another version this is being posted in many places they definitely want the citizens to see this article
Washington is ready to support the financial policy of Iraq
link
Today, Monday, the US ambassador to Iraq expressed his country's readiness to provide support and assistance to the central bank and the banking sector in Iraq
The media office said a statement of the Central Bank of Iraq received by Alsumaria News, "The governor of the bank Mustafa Ghaleb Frightening the US ambassador received in Iraq Matthew Toller.
The statement added that the meeting dealt with ways of joint cooperation betweenBaghdad And theWashington In the monetary and economic fields, including the emphasis on the importance of technical support and joint cooperation to advance the reality of the Iraqi banking sector.
In turn, the American ambassador praised the reform plan adopted by the administration of the Central Bank of Iraq towards the banking sector, expressing his country's readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq
Below is the daily Word on the Street WOTS report:
Baghdad - Al-Kifah Stock Exchange
148,000
….
Price in exchange (approximate)
147,500
148,500
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Erbil / Bursa
148,200
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Basra / Bursa
148,150
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1460.0000 | 1465.0000 | 1457.9000 | 1457.6000 | 1457.6000 | 0.3000 | 16:00 |
| USD/VND |  23040.0000 | 23045.0000 | 23055.0600 | 23052.7100 | 23055.0600 | -2.8200 | 22:45 |
| USD/CNY | 6.4842 | 6.4862 | 6.4945 | 6.4837 | 6.4945 | -0.0102 | 05:26 |
| USD/KWD | 0.3005 | 0.3015 | 0.3008 | 0.3006 | 0.3008 | -0.0002 | 05:26 |
| GBP/USD |  1.3911 | 1.3912 | 1.3929 | 1.3864 | 1.3879 | 0.0032 | 05:28 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14457.0000 | 14460.0000 | 14517.0000 | 14435.0000 | 14513.0000 | -54.0000 | 05:27 |
Washington state passes carbon pricing measure...
World's first 'floating' sky pool...
Oil falls as COV spreads in India
Oil prices fell on Monday, as India's CO2 virus spread to the world's third largest oil consumer, as investors assessed demand expectations ahead of the main OPEC+ meeting later this week.
The United States and China are recovering strongly from the epidemic and there are some positive signs from Europe, but the market is facing headwinds from the outbreak of the virus in India. This could be a problem for the OPEC+ alliance, which has agreed to start adding more supplies from May.
Oil's strong start to the year faltered in mid-March as some regions began to see a resurgence of the virus, although prices remain nearly 30% high in 2021, and OPEC+ is scheduled to meet on Wednesday to assess the oil market.
U.S. crude for June fell 0.45% to $61.85 a barrel on the New York Mercantile Exchange at 5:30 GMT.
Brent crude for June crude fell 0.50% to $65.09 on the European Ice Futures Exchange after rising 1.1% in the previous session.
Despite the challenges posed by the Indian crisis, there are signs of a broader recovery, with Ceo Schlumberger, the largest oilfield contractor, predicting that global oil demand will return to pre-epidemic levels by the end of next year, if not earlier, while the Chinese economy continued to prosper in April from record growth in the first quarter.
Today.. Zarif in Baghdad to discuss joint cooperation
Iranian Foreign Minister Mohammad Javad Zarif arrives in Baghdad on Monday as part of a regional tour that will include Qatar to discuss joint cooperation.
"Foreign Minister Fouad Hussein will discuss with his Iranian counterpart the issues of bilateral cooperation and the development of relations between the two countries," foreign ministry spokesman Ahmed al-Sahaf told the official Iraqi news agency INA.
"Zarif will hold talks with senior officials during his visit to Iraq and Qatar," foreign ministry spokesman Saeed Khatibzadeh said.
On the purpose of his visit to Iraq and Qatar, Zadeh said, it is part of "developing bilateral relations and pursuing regional talks."
Sumaisem to "Tigris": Increasing oil prices would eliminate the fiscal deficit
The economic expert, Salam Sumaisem, said today, Sunday, that the increase in oil prices could eliminate the financial deficit in the budget, noting that the strict financial policy is paid by the simple citizen.
Sumaisem told "Tigris", "It is possible that the increase in oil prices will eliminate the financial deficit, by investing the increases in bridging the economic gap that exists inside Iraq."
However, Sumaisem said, "There is no sign or glimmer of hope for the improvement of the economic situation in Iraq. Rather, the government has given the impression to everyone that it is on the way to austerity and following the strict traditional measures pursued by the financial policy, which the middle class pays for.
Just a headline at this time no details with the article
Washington informs the Central Bank of Iraq its readiness to support its reform plans
CBI Update: Just a note:
including $34,650,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
[post 2 of 2]
4-25-2021 Newshound Guru Kaperoni An article...came out from economic adviser Saleh stating Iraq cannot float the dinar because is using the daily currency auctions. He mentions several reason. This is true. They cannot float while they continue to use the currency auctions. Iraq is only one of a few if even that left in the world using a currency auction. Central banks manage their currency by freedom of movement of capital and supply and demand selling blocks of currency to balance the exchange rate on the global financial system. [post 1 of 2.... stay tuned]
4-25-2021 Intel Guru Frank26 The CBI is about to go on a massive advertising campaign about the monetary reform...inside Iraq... television commercials, newspaper ads, billboards...there's going to be CBI workshops. The CBI will rent out big auditoriums, gymnasiums...they'll set up table, 'We'll like to explain to you what's going on.'
4-25-2021 Newshound Guru MilitiaMan This new plan is going to be vastly different in nature from previous era Marshal Plans of the world...The previous were industrial in nature primarily. This one will have and industrial nature of course, but with a new and improved digital component to it...That road is transparency. The new system requires it. The digital world they’ll begin to live with looks to be with the USA help is to go live 05/01/2021 digitally for both Dinar and the Dollar...To do that Interconnectivity is to be international... Article 8 compliant. Cross border payments and settlements for trade require it.. imo... So with having the E-Gov, E- Commerce, E-Borders and new E-Currency we should see an exchange rate change at or before the roll out of the digital playing field they suggest is to roll out May 01. I am very optimistic...Let’s see what the day brings us. imo. [post 2 of 2]
4-25-2021 Newshound Guru MilitiaMan ...with all we know and understand the exchange rate has not thus far gone the direction we have been hoping and praying for. Or has it? ...The powers that be have been working for years to get the country of Iraq to reconstruct and get back to a rightful place in her region and the world. We can see the progress on many fronts over the past 4-5 years now. But more recently we see a laundry list of crucial items (mechanisms) coming together to facilitate the birth of a new nation of Iraq. ...One that is to have an advancement to their internal and external systems like no other possibly in history or at least our life times with or in respect to the “Iraq Marshal Plan”. [post 1 of 2....stay tuned]
4-25-2021 Intel Guru Bruce [via WiserNow] ...there have been over 1100 arrests – in the last several days there – these have been bankers- financial people – Iranian sympathizers - have all been arrested and removed from the scene - this was done in 4 major cities – these arrests needed to happen – and they also I think paved the way for us to move forward – so in other words with that done and the rate for the dinar going into the gazette and being internationally seen on Saturday - I think basically that takes Iraq and we can maybe close the chapter on Iraq...
4-25-2021 Intel Guru Frank26 IMO the budget that...is now going to receive an official exchange rate from a sovereign country that...will be shown to be under Article VIII...you can see very clearly that the action of many countries, many companies...they're casting a shadow of the monetary reform. They're not going to come out and tell you, 'Hey guess what? They told us they're going to raise the value of their currency.' Because they can't. It's illegal to do that...a good forensic detective can walk into a room and tell you basically what's happened in the last 24 hours in that room by interpreting the signs, the clues, the patterns...the monetary reform itself is naked. It's visible...
Al-Fateh warns of massive popular demonstrations and calls Parliament to a closed session
Economic Committee: We support the government's intention to withdraw the lagging investment licenses
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