Tuesday, April 6, 2021

WOTS MON APR 5 21

 WOTS MON APR 5 21

The exchange rates of the dollar in local markets on Monday (April 5, 2021), according to the monitoring of specialists.   

  

Baghdad - Al-Kifah Stock Exchange  

146,800  

....  

Price in exchange (approximate)  

146,250  

147,250  

————-——————————  

Najaf / Bursa  

146,900  

——————————  

Basra / Stock Exchange  

147,000  

——————————  

Erbil / Bursa  

146,900  

——————————  

Mosul / Stock Exchange  

147,000 


The Markets:
The Asian markets closed up NIK up by .79% HSI up by 1.97% SHANG up by .52%
The UK markets are currently closed today for Easter Monday
Our futures are currently trading in the green  DOW at 33259 up by .67% SNP at 4032.25 up  by .55% NDX at 13379.25 up  by .47%

Precious Metals:
Gold is red at 1725 Silver is red  at 24.84 Copper is green at 408 Platinum is red at 1209 
Brent 63 WTI  60   Bitcoin: 57,478


Things in the News:

Iraqi Articles:

IFC predicts future oil prices for the rest of 2021

link

The International Finance Institute (IFC) on Monday predicted that oil prices will hover below $60 in the current world, as global oil demand is likely to return to 100 million barrels per day by 2023.

Before the emergence of the coronavirus and its spread around the world, the world was consuming about 100 million barrels per day in 2019.

In a report seen by Twilight News, the Us-based Institute attributed the fall in oil prices to "expectations of increased supply over demand for the rest of the year, as well as increased oil inventories as a result of a gradual recovery of oil supplies in conjunction with OPEC' agreement to increase production over the next three months and saudi arabia's gradual withdrawal of voluntary cuts."

"Global demand for oil will return to 100 million barrels per day by 2023," he said, adding that the reason for this is "the continuation of closures in Europe and the decline in oil demand, as a result of the spread of home-based work culture and reduced business volumes, as well as the support of major economies for future plans free of carbon emissions."

"The rise in oil prices currently witnessed by the world is due to a combination of factors that led to a significant reduction in world oil inventories, notably Saudi Arabia's decision in February to cut production by an additional 1 million barrels per day until the end of April, and the extension of OPEC+ production cuts, which coincided with oil production disruptions in the United States at the beginning of the year due to weather disturbances, as well as delays in the arrival of oil shipments due to the recent disruption of navigation in the Suez Canal," the International Institute said.

The International Finance Institute is a global financial industry consortium with more than 450 members from more than 70 countries, whose functions are to support the financial industry in prudent risk management.


Iraq's teachers are calling on Saleh not to approve the 2021 budget

link

The Iraqi Teachers Union called on President Barham Salih not to approve the draft federal budget approved by Parliament, on Wednesday, until an amendment is made to ensure the rights of thousands of teachers are granted temporary contracts in schools.

Teachers have been working on temporary contracts in schools for 10 years for free, in the hope that they will be installed on permanent contracts and will receive monthly salaries.

The head of the Iraqi Teachers Syndicate, Abbas Al-Sudani, said during a press conference held in Baghdad yesterday, Sunday, that "teachers on temporary contracts have made efforts in the Education Department for free without any monthly dues."

Al-Sudani added that all teachers will stand by force to convert free-working teachers into permanent paid contracts, and that any services provided without paying a fee for this are exploitation and a procedure contrary to the law.

The protests area of teachers appointed on temporary contracts includes 15 Iraqi governorates, excluding the provinces of the Kurdistan region.

The captain called on the prime minister to "increase the financial allocations specified in the budget to convert temporary teacher contracts to fixed ... We call for not approving the budget until the amendment is made to the paragraph on teachers."

The country's draft budget for 2021 included an item under the name of "grant" that would be offered to teachers on temporary contracts, without clarifying the mechanism of its distribution, which was rejected by the union.

Malek Hadi, "the representative of the free lecturers", said in press statements that the total number of teachers working for free in the country in the education sector is 140,000.

Since last Thursday, that is, the day after the Iraqi parliament approved the country's budget, protests began in the southern provinces of the country, and expanded to include all provinces.

On Sunday, the governorates of Baghdad, Salah al-Din, Najaf, Karbala, Diwaniyah, Babil, Muthanna, Nineveh, Diyala, Dhi Qar, Wasit, Basra, Anbar and Maysan were witnessed.

On Wednesday, the House of Representatives approved the country's financial budget for the current year 2021, with total expenditures of 129 trillion dinars (88 billion dollars).


Fiscal sustainability is the cornerstone of economic reform

link


The observer and observer of the role of economic institutions during the lean years that Iraq has gone through and is still going through since 2003 with regard to managing the Iraqi economy notes that there are failures, challenges and repercussions related to the loss of methodology, lack of clarity of policies and programs and inconsistency of strategies prepared in partnership with international organizations, experts and advisors Iraqis with the reality of the Iraqi single-resource economy, which depends mainly on oil rent, and what this has led to a structural and structural defect in the economy, the lack of stability in the financial system and the monetary system due to the deficit in revenues, the gases of oil, the deficit in the balance of payments, the deficit in public budgets and the lack of coordination between the two financial policies Added to this was the mismanagement of public money.


In addition, the private sector was not given an effective role in making economic decisions ... All the above failures, in addition to political and security instability and the war on terror, led to economic instability and deficiencies in visions to build a solid national economy capable of drawing the preludes to the transition to a market economy. The above failures and challenges have created a fog and a pessimistic outlook for our economic future among our people and many of our economic elites. However, many economists, financial experts, local and far-sighted people believe that there are promising points and experiences that some economic institutions have carried out during the past 18 years, clearly and effectively, which are the years of the stifling economic and financial crisis, and one of the most prominent bright spots in this process is the experience of the Central Bank in supporting the national economy with its governorate. On his functions, goals and independence specified in his law. The most important achievement of the Central Bank is its contribution to achieving economic resilience and enhancing financial sustainability in crises. Through implementation and development measures and building balanced relationships with Arab, regional and foreign banks, and its strategy for the past five years, in addition to the results achieved on the scope of monetary policy applications internally, and convincing international financial organizations, the most important of which is the official reports issued by them, confirm the success of the central bank’s policy in achieving an important transition for the Iraqi economy from the gray stage. To follow up periodically. As far as we know we who are interested in economic, financial and banking affairs in the implementation procedures of the means of monetary policy applications. 

The bank has played a major role in supporting the national economy and strengthening the state treasury, in addition to its numerous contributions and initiatives to revitalize the economic cycle, enhance liquidity in banks, continue paying the salaries of employees and retirees, and contractor and farmers ’dues, and reach a re-extension of coordination bridges between the fiscal and monetary policies and propose economic and structural policies to prepare public budgets for years The upcoming and attempts to restore confidence in the banking system. 

The Central Bank has proven its obvious ability to interact, analyze obstacles to work, and create conditions to overcome challenges. However, there is still a long way to go before the Central Bank and the relevant government agencies. In order to achieve a sound national economy building, therefore, I invite economic elites to interact with bright points and experiences and sing them with their ideas, visions and proposals to build a solid national economy, overcome challenges, correct wrong paths, and in transparent and calm dialogues.Because preserving the spirit of economic steadfastness and financial victory and moving forward to ensure financial sustainability for the coming years comes for well-known reasons, the most prominent of which is that the Iraqi economy is rentier and depends mainly on oil and because of its global price fluctuations, down and up by (20% - 70%), confusion and imbalances in the management of the economy. The lack of clarity of the vision and the economic approach and the insufficient legal environment regulating the management of the economy and money.

And the lack of a sovereign fund in the years of financial abundance. All this coincided with conditions of fragility and instability, which led to the country's burden of additional economic problems and large financial costs, which were reflected in the increase in the unemployment rate and the proportion of the population below the poverty line. This required the government, its agencies, institutions, advisors, and economic elites to reconsider plans and programs to overcome the weakness and fragility that were diagnosed by national and international reports, with trends that require national sensitivity and real and sincere intentions for change and reform.

And that a new economic methodology is adopted by diversifying the sources of budgetary resources, moving the economy from rentier to

productive, establishing a market council, engaging the private sector in making economic decisions during the next five years and leading the market in accordance with Iraq’s 2030 vision.

* An economic and banking advisor

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 April  , 2021 total sales amount $ . NO UPDATE YET

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 


4-4-2021 Newhound guru Jeff  Jeff Article "Parliament welcomes Al-Kazemi's tour to Saudi Arabia and the Emirates: Iraq will return to its leadership role"  Kazemi is meeting with many different countries.  They're working towards achieving their economic independence and economic stability.  They're showing you right now they technically don't have economic independence or stability at this time because they're actually putting that together right now...drafting bilateral trade agreements...

4-4-2021   Intel Guru MarkZ   [via PDK]  A number of regional news outlets in Iraq are saying no revalue for 4 more years…this is similar to what we heard in Kuwait and China just before they revalued their currency. It’s similar to what they said with the Japanese yen and German Mark after world war 2.

4-4-2021   Newshound Guru Pimpy  Question:  [How long would it take for international banks to reinstate out of country?]  What do you mean by 'out of country'?  There is no 'out of country' or 'in of country'.  When they redo the rate it's all at the same time...  


Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)

For the joint Iraqi-Emirati statement 

Based on the ties of brotherhood and the close historical ties between the Republic of Iraq and the United Arab Emirates, Prime Minister Mustafa Al-Kazemi met during an official visit to the United Arab Emirates, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates.

The Prime Minister thanked the UAE and His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, for the support provided by the UAE and its leadership to Iraq and its people.

During the visit and official meetings, prospects for cooperation between the two brotherly countries at all levels were discussed, and means of developing and developing them in the service of common interests, and the two sides praised the depth of the fraternal relations between the two brotherly countries.

The two sides also reviewed the latest regional and international developments and developments, and touched on the importance of international cooperation, coordination and integration of efforts in the face of the "Corona" pandemic, and containing its economic and health repercussions on the countries of the world. The Prime Minister thanked the UAE and its leadership for the medical aid provided to Iraq and its people to face Pandemic.

The two sides agreed on the importance of developing and strengthening cooperation in economic fields, developing trade and increasing trade exchange, encouraging investment movement between the two countries, inviting businessmen from the two countries to exchange visits, establishing the Iraqi-Emirati Business Council, and facilitating all measures that serve the interests of the two countries.

In this context, the UAE announced its investment of $ 3 billion in the Republic of Iraq, and the initiative aims to strengthen economic and investment relations, create new opportunities for cooperation and partnership, and advance economic, social and developmental growth to support the Iraqi people.

Iraq also appreciated the UAE’s initiative to rebuild the Al-Hadba Lighthouse, the Al-Nuri Mosque, and a number of churches in Nineveh Governorate.

The two sides touched upon the need for security and military cooperation, and the exchange of information to combat terrorism.

The two sides agreed to expand cooperation in the energy field, especially in the areas of clean energy.

At the conclusion of the visit, the Iraqi Prime Minister thanked Mr. Mustafa Al-Kazemi, the leadership, government and people of the UAE for the warm welcome and hospitality.

Media Office of the Prime Minister
April 4, 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 meets with UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum

Prime Minister Mustafa Al-Kazemi met today, Sunday, the Prime Minister of the Emirates and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, as part of his current official visit to the United Arab Emirates.

Mr. Al-Kazemi discussed with His Highness Sheikh Al Maktoum the bilateral relations between the two countries, and discussed ways to enhance joint cooperation and develop its mechanisms in all fields.

Media Office of the Prime Minister
April 4, 2021

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ARTICLE 1-C (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi meets in the UAE a number of Emirati companies and businessmen

The Prime Minister, Mr. Mustafa Al-Kazemi, met today, Sunday, at his residence in the United Arab Emirates, a group of Emirati companies and businessmen.

During the meeting, Mr. Al-Kazemi stressed that Iraq has gone through difficult and complex conditions that have delayed development and services, and that Iraq is the cradle of civilizations and the great diversity that represents an element of strength for us, deserving of efforts to serve its citizens.

He explained that the Iraqi government has taken bold measures in the financial sector, economy and development, and there is a gradual recovery of the Iraqi economy.

The Prime Minister referred to the reform paper prepared to reform the private sector and provide all facilities to it, and stressed that the doors of Iraq are open to Emirati companies and businessmen, and indicated that several measures have been taken to reduce bureaucracy and overcome obstacles facing companies.

Mr. Al-Kazemi stressed that the government attaches great importance to clean energy, and has drawn up plans and taken several measures regarding them.

For their part, the businessmen praised the reforms taken by the Iraqi government headed by Mr. Al-Kazemi, which were recently touched, and stressed their readiness to work in Iraq in various sectors.

Today, Sunday, the Prime Minister, Mustafa Al-Kazemi, is conducting an official visit to the United Arab Emirates, to discuss bilateral relations between the two countries, enhance mutual cooperation, and discuss a number of files of common interest.

Media Office of the Prime Minister
April 4, 2021

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ARTICLE 1-D (from PM Kadhimi's website; posted only on Arabic side, not on English side)

The Iraqi and Emirati delegations hold an expanded meeting to discuss a number of cooperation files 

Prime Minister Mustafa Al-Kazemi, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, chaired the expanded meeting of the Iraqi and Emirati delegations, which was held today, Sunday, within the framework of the official visit of Mr. Al-Kazemi and the delegation Accompanying him to the United Arab Emirates.

During the meeting, they discussed strengthening joint cooperation between the two countries, in the fields of investment, energy, culture, trade, transportation, services and other sectors, and discussed ways to advance bilateral relations between Iraq and the UAE, and work with everything that develops and elevates the level of joint cooperation mechanisms, in a way that serves the interests of the two countries ’peoples.

Media Office of the Prime Minister
April 4, 2021 

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ARTICLE 1-E (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi discusses with the Crown Prince of Abu Dhabi the bilateral relations between Iraq and the UAE

The Prime Minister, Mustafa Al-Kazemi, met today, Sunday, the Crown Prince of Abu Dhabi, Deputy Supreme Commander of the Armed Forces of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, as part of his current visit to the United Arab Emirates.

The meeting witnessed the discussion of bilateral relations between the two countries, the strengthening of means of joint cooperation in many sectors, as well as the discussion of the overall situation in the region, and the return of Iraq to play its important pivotal role in calm and stability.

His Highness Sheikh Mohammed bin Zayed Al Nahyan, welcomed the Prime Minister and his accompanying delegation, and praised the Iraqi government's reform steps aimed at developing the economy and improving the investment environment, and praised the role of Iraq in enhancing security and stability in the region, and its approach to a policy of appeasement and dialogue.

Media Office of the Prime Minister
April 4, 2021

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ARTICLE 1-F (from PM Kadhimi's website; posted only on Arabic side, not on English side)

An official reception ceremony for the Prime Minister, Mr. Mustafa Al-Kazemi, in the United Arab Emirates 

The official reception ceremony for the Prime Minister, Mustafa Al-Kazemi, was held at Qasr Al-Watan in the United Arab Emirates today, Sunday, by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates.

During the official reception, the Iraqi national anthem and the Emirati national anthem were played, the honor guard was searched, and 21 welcome artillery rounds were fired, in addition to the Prime Minister’s wheel escort.

Prime Minister Mustafa Al-Kazemi is conducting an official visit to the United Arab Emirates, in which he will discuss strengthening bilateral relations and developing joint cooperation between the two countries, in addition to discussing files of common interest.

Mr. Al-Kazemi and his accompanying delegation were received at Abu Dhabi Airport by Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates, and the UAE Minister of Energy, Mr. Suhail Al Mazrouei.

Media Office of the Prime Minister
April 4, 2021

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ARTICLE 1-G (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi arrives in the United Arab Emirates 

No article...just 2 pix showing arrival at airport.

Media Office of the Prime Minister
April 4, 2021

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ARTICLE 1-H (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi leaves the homeland at the head of a government delegation heading to the United Arab Emirates to discuss strengthening relations between the two countries in many areas 

No article...just 2 pix showing departure from airport.

Media Office of the Prime Minister
April 4, 2021

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ARTICLE 2 (from Government of Iraq twitter account)
We extend our best wishes for a Happy #Easter
 to Christians in Iraq and around the world.
PM @MAKadhimi is welcomed by the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces @MohamedBinZayed. They discussed strengthening Iraqi-UAE relations in a number of areas.

PM @MAKadhimi meets the Prime Minister of the United Arab Emirates and the ruler of Dubai @HHShkMohd. Together, they discussed bilateral relations and enhancing joint cooperation across a number of areas.

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ARTICLE 3

Al-Sadr tweets about the openness of Iraq to the Arab countries
07:49 - 04/04/2021
BAGHDAD - Mawazine News

The leader of the Sadrist movement, Muqtada al-Sadr, tweeted on Sunday about the visits of Prime Minister Mustafa Al-Kazemi, to Saudi Arabia and the Emirates, and the Iraqi openness to Arab countries.

Al-Sadr said, in his tweet on the "Twitter" platform, that "the opening of Iraq to the Arab countries is a step towards the right path, whether this is the visit of Al-Kazemi to the Kingdom of Saudi Arabia or the sisterly United Arab Emirates. We have with the two countries a rich history and we will get with them a prosperous future that brings us together and them brotherhood, partnership and peace." For the sake of our country and their countries. "
He added, "And for Iraq to be the axis of peace in the entire region and the Middle East in particular."

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