WOTS THU AUG 25 21
Raising the price of the dollar against the dinar increases the suffering of Iraqis
The Planning and Follow-up Committee of the Parliamentary Government Program revealed, on Wednesday, an American scheme to destroy the local Iraqi currency and the market through a systematic policy, indicating that some political parties are implementing the scheme.
Deputy Chairman of the Committee, Muhammad Al-Baldawi, said that "the United States of America, through some political blocs and ministers, is seeking to destroy the Iraqi dinar and the complete collapse of the market, as happened in Lebanon."
He added, "Raising the price of the dollar against the dinar was the first government step within the scheme, and then seeking to implement the reform white paper, which increases taxes on basic commodities for the citizen."
Al-Baldawi pointed out that "the local market witnessed during the past few days a frightening rise, which reached by 50 percent for some basic materials and flour, at a time when some ministers sing about the illusory economic achievement, which will repeat the scenario of Lebanon and others and destroy the currency irreversibly."
A member of the Parliamentary Foreign Relations Committee, Mukhtar al-Moussawi, had revealed, in a previous statement to "The Information", the threat of the United States of America to Iraq from the consequences of contracting with China, Russia and Iran.
The government acknowledges that it is not possible to prepare a supplementary budget for the current fiscal year
Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, approved, on Wednesday, the inability to prepare a supplementary budget for the current fiscal year.
Saleh said, according to the official media: "I do not see that the fiscal year, which will enter its last quarter, encourages the production of a supplementary budget, in addition to the fact that parliamentary life is about to stop due to the legislative elections on the tenth of October, so how can such exceptional budgets be legislated with this the speed".
He added that "the government's appeal to some paragraphs of the Federal General Budget Law for the fiscal year 2021 is still before the Federal Court until this moment."
The role of the dividend and disclosure in attracting trading in the shares of joint stock companies
Direct analysis agencies, especially Arab ones, including Al-Mubasher Agency, follow up news and information on joint stock companies and trading indicators, in addition to following up on Arab financial markets.
The number of joint stock companies listed on the Iraq Stock Exchange is (103) joint stock companies representing the following sectors:
The number of industrial companies that distributed dividends to their shareholders is two.
The Minister of Planning discusses with the World Bank the mechanisms of economic reform in Iraq
Minister of Planning Khaled Battal Al-Najm discussed today, Wednesday, with the Director of the East Department at the World Bank, "Saroj Kumar Ja" and Ramzi Noman, representative of the World Bank in Iraq, a number of issues and files of common interest, including the discussion of the issue of climate change. What are the measures that can be taken in this regard?
The Minister of Planning said during the meeting that "the Iraqi government has taken a number of important decisions in this regard, including the trend towards using clean and renewable energy, and giving this matter exceptional attention."
The two parties also discussed Iraq's need for international support in reconstruction operations and addressing development gaps, by improving the investment environment, supporting the private sector, and achieving economic reform, according to what was included in the government reform plan (white paper) of comprehensive reform tracks and policies.
Iraq signs an "agreement of principles" with China to establish solar power plants
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Under the patronage of the Iraqi Prime Minister Mustafa Al-Kazemi, an agreement of principles took place today, Wednesday, between the Ministry of Electricity and the Chinese Power China Company, to establish solar power plants with a capacity of 2000 megawatts, to be implemented with a capacity of 750 megawatts as a first stage, up to a capacity of 2000 megawatts.
The Director General of the Investments and Contracts Department at the Ministry of Electricity Maha Hamoudi Abdul-Jabbar was signed on behalf of the Iraqi side, according to a statement by Al-Kazemi's office, which was received by Shafaq News Agency, while the Chinese side was signed by the Deputy Director General of the company, Li Dzhi.
The statement promised that the solar energy project is one of the first pilot projects in Iraq and is being implemented for the first time, and the project will contribute to increasing the production of electrical energy, to supply the system with clean renewable energy.
The signing of the principles agreement was attended by the Undersecretary of the Ministry of Electricity for Production Affairs, Adel Karim, and the Vice President of Power china, Jiu V.
Al-Maliki in Erbil discusses unifying positions on the elections and important files
The head of the State of Law Coalition, Nuri al-Maliki, and his accompanying delegation .arrived, Wednesday, August 25, 2021, to the Kurdistan Region, on an official visit .
Masoud Barzani and Nuri al-Maliki will meet in the presence of a State of Law delegation
A source from the State of Law Office had said earlier that a high-level delegation headed by Nuri al-Maliki is .scheduled to visit the Kurdistan region Al-Maliki had said earlier that my relationship with Masoud Barzani is not a relationship today, but rather that of the days of struggle and jihad when our military headquarters were located next to the headquarters of the .Kurdistan Democratic Party in Badinan and other areas Al-Maliki pointed out that this visit was supposed to take place after the Eid, but his warning of infection with the
.Corona virus prompted him to postpone, especially since he had contracted it before
Finance Minister : Iraq no longer needs an International Monetary Fund loan
Finance Minister Ali Abdul Amir Allawi confirmed, on Thursday, that Iraq does not need an International Monetary Fund loan, while revealing huge costs borne by the state at the level of several sectors.
In response to a question by the “Nass” correspondent, during a press interview held at the Ministry’s headquarters, (August 26, 2021), the minister said that “one of the loans identified by the IMF was allocated to confront the Corona crisis,” noting that “negotiations with the Fund regarding the liquidity loan have been going on since The beginning of the year, and perhaps we will continue with them even after the next elections."
Allawi stressed, "The relationship with the International Monetary Fund is good," noting at the same time that Iraq "no longer needs to borrow due to the rise in oil prices, as well as adjusting the exchange rate of the dollar."
The minister talked about a number of files related to the volume of public spending and the amount of cost borne by the state in certain sectors such as housing and energy.
Allawi said, "The Basmaya project is very complex, as the executing company requests large amounts of money, but it does not implement some of its obligations," explaining that "the project continues with continuous banking support, and it can be completed during this year."
6 million employees.
"It would have been better if it had been done differently, it is very expensive," he added.
And on the salaries of employees of the Kurdistan region, the minister said that "our position is neutral, professional and objective," noting that "the size of salaries amounts to 200 billion dinars per month."
And he indicated that "the ministry's policy does not stand against government employment, but we are against the loss of productivity in the state sectors," attributing "the delay in the payment of salaries to the massive inflation in Iraq."
The minister revealed that the number of employees in Iraq is up to 6 million people, including all beneficiaries of government salaries.
Oil prices..and OPEC
On oil prices, the minister stated that "the price of a barrel of oil in the 2022 budget will be 50 dollars," adding that "OPEC will add 450,000 barrels to Iraq's oil production during the next year."
The minister stressed that it is not possible to "impose taxes in the absence of production," explaining that "taxes are necessary and important in stimulating production and investment, and they are very few in Iraq, and there is a new tax policy that we will work on during the coming period."
He pointed out that "taxes in Iraq are not equivalent to 1% of the national income."
He also indicated, "The tax law will reconsider the issue of tax in Iraq and draw up a new policy," stressing that "state resources in Iraq are used in an incorrect and improper manner."
Smuggled money.
The minister touched on the file of smuggled funds, saying that "the money that was smuggled abroad in the previous regime was for the benefit of the state," noting that "the value of Iraq's property abroad is not equivalent to 5% of the volume of smuggled funds."
Allawi revealed that "the volume of smuggled sums exceeds $200 billion," noting the need for "the economic, political and intelligence cooperation of the countries concerned to recover these funds."
He also revealed, "the launch of dialogue with some foreign countries and neighboring countries to return the smuggled money." But he said that "huge amounts of that money has evaporated in the banks of the rest of the countries."
The minister stressed, "Iraq's need for a clear policy and large funds for the purpose of returning the smuggled funds abroad."
Debt, electricity and recruitment.
In the same context, the minister said, "Iraq's foreign debt has reached 50 billion dollars, some of which is related to the Paris Club," explaining that the high volume of debt has led to "the collapse of international oil prices."
Allawi added, "We are dealing with corporate capital visit issues, and we encourage Iraqi private companies to prove their worth."
Regarding the electricity file, Allawi revealed that "the electricity sector in Iraq costs the state more than 25 billion dollars," noting that the size of the Ministry of Electricity's employees alone rose by more than 100,000 employees, which raised the volume of spending.
The minister also spoke about the compulsory conscription law, saying that "the law was previously presented and has not yet been officially discussed, and we do not know the position of political currents and parties," noting that its implementation "costs the government more than 150 billion dinars."
"I don't know what they want!"
On the other hand, the minister was surprised by the repeated questioning by Parliament.
Allawi said that he "received 7 requests for interrogation," but he "does not know what they specifically want," noting that some of the interrogation requests did not reach him officially.
Allawi confirmed, "He went to Parliament more than 14 times between visits, meetings and requests for hosting."
The Minister of Finance announces the completion of the preparation of the 2022 budget
Today, Thursday, Finance Minister Ali Allawi announced the completion of the preparation of the 2022 budget, while indicating that it will be presented within 3 weeks in the Council of Ministers.
Allawi said in an interview with a number of media outlets, including "Al-Iqtisad News", that "the preparation of the 2022 budget has been completed."
He added that "the budget will be presented within 3 weeks in the Council of Ministers."
The Ministry of Finance, Ali Abdul-Amir Allawi, announced, on Thursday, the completion of the preparation of the 2022 budget, revealing the date of its presentation in the Council of Ministers.
Allawi said, "Iraq's financial policy during a year and a half went through five exceptional circumstances, and we entered the beginning of the government's work without any financial safety valve."
He added, "The Iraqi economy has changed since 2019, the obligations of the previous government, and the Corona crisis led to the collapse of oil prices and increased unemployment. We worked as a government policy to control expenditures that were reflected in state revenues, and that the process of changing the exchange rate was not easy."
He continued, "The dollar exchange rate should have been changed years ago, which reflected something beneficial to reform the economic system. Our fiscal and monetary policy is reformist and must continue."
He pointed out, "Our fiscal policy aims at balancing oil and maximizing other resources, and we have started correct reform work, starting with banks and customs, and we have come out safely from the difficult economic situation."
The Minister of Finance said, "The preparation of the 2022 budget has been completed, and it will be presented within 3 weeks to the Council of Ministers."
He pointed out, "The exchange rate reflects many issues and its rise is beneficial to some economic sectors," stressing that "the Kurdistan region has not implemented its obligations regarding the payment of oil prices."
The Minister of Finance stressed that "the improvement in oil prices does not solve the financial distress quickly due to internal and external debts."
Finance reveals the price of a barrel of oil in the 2022 budget and waves a new tax law
Today, Thursday, Finance Minister Ali Abdul-Amir Allawi revealed the value of the price of a barrel of oil in the 2022 budget, while hinting at the imposition of a new tax law in Iraq.
He added that "65% of the state budget goes to salaries," noting that "the delay in the payment of salaries was caused by the massive inflation in Iraq."
Allawi explained that "taxes are important in stimulating production and investment, and they are very few in Iraq, and they are not equivalent to 1% of the national income," noting that "the tax law will reconsider the issue of tax in Iraq and draw up a new policy and a new law."
And he added, "The Kurdistan region has not implemented its obligations regarding the payment of oil prices, and that the price of oil obtained by the region is above the equilibrium price by about 10 dollars."
The Minister of Finance pointed out that "the improvement in oil prices does not solve the financial distress quickly due to internal and external debts."
Raising the price of the dollar against the dinar increases the suffering of Iraqis
Decreased purchasing power amid difficult living conditions
The rise in the price of the US dollar against the Iraqi dinar exacerbated the suffering of the people of Mesopotamia, which prompted
citizens to austerity to manage their affairs, amid difficult living conditions.
Increasing the selling price of the dollar
And the Central Bank of Iraq decided last December to raise the price of selling the dollar to banks and exchange companies to 1460
dinars, from 1182 dinars to the dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration in oil prices, and the Central Bank attributed the main reason behind the devaluation of the dinar to bridge a gap Inflation in the 2021 budget after the collapse of global oil prices, which is a major source of Iraqi financial resources, and he stated that “the financial crisis that Iraq was exposed to due to the Corona pandemic led to a large deficit in the general budget,” and he pointed out in his statement that the purchase price of one dollar from the Ministry of Finance. Finance will be 1450 dinars, while the price of selling the dollar to banks through the foreign currency sale window is 1460 dinars.
And the Parliamentary Finance Committee revealed earlier, that the exchange rate will remain at its current position during the next five
years.
Low purchasing power
The rise in the price of the dollar and the devaluation of the Iraqi dinar caused a decrease in the purchasing power of citizens.
Ali Ahmed, the owner of a store, said that "the prices of food commodities began to rise gradually since last October, and in the past two months they witnessed a significant increase," and stressed that "the citizen started screaming about the general situation in which he is living due to the large increase in prices."
Muhammad Mohsen, a seller of fruits and vegetables in one of Baghdad's central markets, considers that the purchasing power of Iraqi families has decreased due to the dollar's rise against the Iraqi dinar, and also because of the repercussions of Corona, and adds, "Most of the professions were affected, and some of them closed their stores."
The Iraqi authorities had taken a series of measures to reduce the high prices in the local markets, but the prices continued to rise.
Government goals
Economist Evan Shaker said, "More than nine months have passed since the decision to reduce the value of the Iraqi dinar against the dollar, by approximately 23 to 25 percent, and the government's main goals behind reducing the value of the Iraqi dinar against the dollar were to support the local industry and stop dollar smuggling. outside the country by selling the currency auction, as well as covering the expenses of employees’ salaries.” Shaker believed that “the majority of the goals set by the government by devaluing the Iraqi dinar during this period could not be achieved, and failed to support and develop the local industry, and also during this period, Inflation rates jumped in record numbers, which negatively affected the citizens,” and stressed that “the government failed to stop the smuggling of hard currency (the dollar), and that its decision to reduce the value of the dinar was in a random manner without taking into account the purchasing power of citizens, and even without taking into account the overall Iraqi economy. A decision that is far from modern economic thought.
Shaker stressed that "the government was supposed to reduce the value of the Iraqi dinar against the dollar gradually, and in a smooth manner, but the decision was implemented in a sudden manner without any prior injunction, and it did not happen gradually, which caused a great shock to the Iraqi economy, and also caused an unexplained recession. unprecedented in the Iraqi markets, and heavy losses affected most sectors."
He pointed out that "the government was supposed to reduce the value of the Iraqi dinar gradually between five to seven percent, and with the implementation of the reduction, the central bank was supposed to inject large liquidity by giving loans to small and medium enterprises, and after a certain period, and in the event Achieving the desired goal of the targeted growth rate, the second step begins by reducing the value of the dinar in the same proportion as the previous one, while pumping liquidity again in the same proportion. If the desired goal of growth was not achieved, the reduction could have stopped at a certain number, because the economy is flexible and on The decision-maker has to be flexible in managing the economic file.” Shaker regretted the “random method of devaluing the Iraqi dinar against the dollar, which harmed both the public and private sectors.”
One of the solutions
But the expert in international economics, Nawar Al-Saadi, saw devaluing the local currency against the dollar as one of the solutions that
some countries resort to, the aim of which is to support the local product, to reduce the phenomenon of wasting currency in imports, or in some cases, in exporting countries that reduce its local currency, to benefit from the currency difference for importers from other countries, as is happening now in China.
Providing the right ground
Al-Saadi added, "What happened in Iraq, the exact opposite of this concept, as the government, in the beginning, when it announced the reduction of the dinar, the goal was to bridge the financial deficit in the budget, support the local product, and reduce the phenomenon of import from abroad, but in fact, the value of salaries decreased indirectly and announced, on the For example, an employee who was receiving a salary of 600,000 Iraqi dinars, the value of this salary at that time was equal to 500 US dollars, but now, the value of the same salary is equal to 400 dollars, and with the increase in prices on goods and services in general, this led to a sharp contraction In the Iraqi market, economic activity has been paralyzed in general, and inflation rates have increased by four percent, according to the Central Bureau of Statistics in Baghdad. Before going to this step, provide the appropriate ground by supporting the industrial and agricultural sectors in the country.”
Present readings
Al-Saadi continued, "We always say that without the presence of strategic projects such as the iron and steel industry, and petrochemical industries, the government's decision will not be useful in supporting the Iraqi industry, because the industry in Iraq is transformative and is limited to giving priority to products manufactured abroad, in addition to the fact that Iraqi manufacturers import all raw materials, and inevitably they will be affected by the rise in the price of the dollar,” and stressed “the need for the government to return the readings of the financial present, especially after the breakthrough in the oil variable, and the rise in oil prices again, and the development of treatments and quick solutions to remedy the situation in the country for fear of the explosion of unemployment and poverty rates and the lack of control over the effects of that.” In the near future".
The Iraqi Ministry of Planning revealed last April that the poverty rate in the country had risen to between 26 and 27 percent, amid high unemployment rates and a lack of employment opportunities in the public and private sectors.
Adviser to the Prime Minister reveals the details of the Generations Fund
Today, Thursday, Adviser to the Prime Minister, Mazhar Muhammad Salih, revealed the details of the Generations Fund, while indicating that the fund will be a source of invested savings for the benefit of the next generation.
Saleh said in an interview with the Iraqi News Agency, and followed by "Al-Iqtisad News", that "the majority of the oil-producing countries or the raw wealth, which is called the group of surplus countries, have pledged to invest the proceeds of their accumulated wealth from the exports of raw materials and include them with sovereign investment funds, tools and income-generating assets through various activities. International and local investment, which is something that maximizes wealth and assets that provide prosperity and well-being for future generations.
Saleh expressed his "support to go towards establishing an Iraqi fund for generations," noting that "such a fund will include part of the financial surplus or the country's official economic surplus, which is based today on some oil revenues."
He stressed that "the fund will be a desirable source of savings that will take over the current generation of managing its investments for the benefit of the next generation, which we call sustainable development," pointing out that "this is the investment pillar that achieves the principle of succession of generations or successive utilization of wealth between generations from the present to the future." .
He added, "A proposal has been submitted to transfer the mechanisms of deductions for the current Kuwait war compensation, which will end early next year, into a national fund for generations to be used according to the vision of the Prime Minister, whereby the funds of the said fund are invested in activities, tools and income-generating assets through a highly diversified investment portfolio (i.e. tools). (financial, assets or real assets) in which there is an element of safety to a large extent of risks, as well as serious thinking about maximizing the proposed fund’s resources in the future from sources of investment returns from other untapped or unexploited natural wealth such as phosphates, sulfur, silicon, gas and other raw materials and untapped natural resources ".
He explained that "the management of such sovereign funds is handled by the central banks in the world on behalf of the government," noting that "the central bank in our country is currently the first financial agent for the government under its effective law and manages the strategic reserve of all official foreign currency and in accordance with international best practices in diversification and reducing Risks and maximizing returns, under the supervision of an independent government agency.
Iraqis are interested in the Baghdad summit as an opportunity to develop infrastructure, improve the economy and facilitate travel
The interest in the Neighborhood Summit in Baghdad shifted from the political elites to the popular circles, as Iraqis hope that this will achieve political stability, economic recovery, and openness to the .world
As for the concerns of the Iraqis, a survey indicates that the Iraqi citizen seeks for his country to be a meeting ground, not a conflict, and that this contributes to economic relations with Iran, Kuwait, Jordan and Turkey, which contribute to supporting the internal situation, providing job opportunities, and working to extinguish the debts .owed by Iraq The Iraqis do not look at the political aspect of the summit except in terms of its ability to create conditions that .contribute to improving infrastructure and attracting investments
Activist Ali Al-Amiri told Al-Masala: We no longer care about political aspects, despite their importance. We want direct results that contribute to strengthening infrastructure projects, improving the financial situation, and .allowing Iraqis to travel easily for medical and tourism purposes
In the case of the results of a summit similar to previous summits inside and outside Iraq, this no longer concerns .the Iraqi citizen
And Iraq invited Iran and its rivals from the Arab Gulf states to attend a summit in Baghdad with the aim of .calming the tension that has pushed the two sides to the brink of open conflict in the past few years
The Iraqis hope that the Iranian presence will contribute to reducing the tension between Tehran and the Gulf states, which is reflected in Iraq, where the polarization will decrease, the prospects for cooperation will open, and .Iraq will be an important economic transit point between Iran and neighboring countries
A politician close to the prime minister said that Iraq, which hosted private meetings between Saudi and Iranian officials this year, had received "positive signals" from Tehran and the Gulf states that it was ready for more direct .talks
This matter clearly concerns the Iraqis, because they believe that they are victims of a regional conflict between .Iran and its allies and between America and its allies on the other hand
The Iraqi Finance Minister supports the floating of the currency
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Finance Minister Ali Abdul Amir Allawi confirmed on Thursday that he supports floating the currency in a flexible manner.
Allawi said in response to a question by Shafaq News Agency, “The Iraqi currency is floating, but the central bank intervenes from time to time until it places it within a certain bar, for example, plus minus 5 percent.”
He added, “Personally, for me, the best kind of flotation is flexibility in pricing so that the price is not sacred as it was before when it entered people’s minds without change, and thus economic problems accumulate and explode.”
The Minister of Finance continued by saying, “There must be some kind of flexibility; it is not the flexibility with which you lose control over it, but the flexibility that stabilizes the price and setting a range of 2 to 3 percent for both parties.”
Allawi pointed out that “the central bank’s policy is to maintain this price and put the gap between the official price and the market at an acceptable level,” noting that “it has also proven that the stability of the exchange rate is important except in the case of economic indicators that push you towards change.”
Floating the currency is fully or partially liberalizing the currency exchange rate so that the government or the central bank does not interfere in determining it directly, but rather it is automatically released in the currency market through the supply and demand mechanism that allows determining the exchange rate of the national currency against foreign currencies.
Al-Kazemi's spokesman reveals important goals of the Baghdad summit and clarifies about Assad's presence
Spokesman for the Prime Minister, Hassan Nazim, revealed today, Thursday, the objectives of the Baghdad Summit, which will be held next Saturday, in the presence of nine regional and foreign countries.
Nazim said, according to the official newspaper, that "the (Baghdad Cooperation and Partnership) conference is a summit that brings together the regional neighbors as well as other countries," explaining that "Iraq had a special policy during the past year from the work of the Al-Kazemi government, and the distinguished work is an attempt to restore the role of Iraq." effective regional influence.
And he indicated that "restoring this role does not mean that Iraq has a desire to play roles as much as ensuring its security and economic stability, meaning that the plans of this government stem from the country's interest in its security and economic files."
He pointed out that "these are great priorities that have been made, and there are shuttle trips for Prime Minister Mustafa Al-Kazemi from them to Arab countries such as the Kingdom of Saudi Arabia, the United Arab Emirates, Kuwait and Jordan, and even international trips to Europe such as Belgium, Italy and the United States of America."
He stressed that "there is a vigorous work to build bridges that continue with the goal of restoring Iraq's role in a manner that secures its stability and economic prosperity, and the next summit meeting is a political meeting. Certainly, the security factor will be present and decisive."
He added that "the issue of tensions in some countries in the region will also be present for discussion at the summit, and Baghdad will host great leaders of these countries, including the French president, who will attend himself and with a large delegation, and this has clear indications and indications, and evidence that Iraq is returning strongly to play its regional and international role, and the international community has become welcome." This role came after many years of reluctance and interruption.
Regarding the number of delegations of countries that expressed their willingness to participate in the Baghdad conference, Nazim said: “Iraq sent an invitation to all neighboring countries and all of them responded and will attend at high levels, and there was talk about the presence and participation of the Syrian side, and Iraq is responsive and has important relations with Syria, so if there was A controversy over Syria's participation, this controversy is not related to the Iraqi government as much as it concerns the positions of others, i.e. the participating parties, and we respect the positions of others, but we emphasize the importance of our interests in our relationship with the Syrian Arab Republic.
He added, "The invitations are comprehensive and the attendance is high, and we hope that our country will reap the fruits through this wide and large international presence in Baghdad. As for the representation in the conference, it is diverse, and attendance at the conference is at the highest level, including kings, ministers, prime ministers, and less, according to the circumstances of each country."
He pointed out that "Prime Minister Mustafa Al-Kazemi's visit to Kuwait was a mission whose main objective is to strengthen economic partnerships, and the visit resulted in the formation of technical committees from both parties, and a date was set for them to meet in order to determine the nature of these economic partnerships between the two countries."
Urgent Al-Kazemi clarifies the importance of the results of the Baghdad conference on Iraq and describes the elections as “fateful.”
Al-Kazemi said during his meeting with Arab and foreign media delegations on the occasion of the conference scheduled to be held next Saturday: "We welcome you to Baghdad, peace, and to the Iraq of meeting, cooperation and partnership, and we are preparing to hold the Baghdad Conference for Cooperation and Partnership, which will start its work next Saturday, and it is an important event not only for Iraq, but for the whole region."
He added, "There are many challenges that we suffer from in the region, and we all have to cooperate and unite in solving them, and to cross towards creating economic and social integration among the peoples of the region. We look forward to this meeting, and what it will produce in support of Iraq's historical role in establishing peace."
And he said, "This conference embodies Iraq's vision of the need to establish the best relations with its surroundings and with the countries of the world, and Iraq has begun to take its historical role, to be one of the pillars of peace in the region," noting that "Iraq can create a bridge for communication, cooperation, and comprehensive integration, with all countries in the region." .
Al-Kazemi went on to say: "Enough wars, conflicts and disputes... Iraq calls on all countries in the region to build peace on the basis of integration among the peoples of the region."
He stressed, "There are great opportunities in Iraq in which the countries of the region can cooperate and contribute, and create a new space for all the peoples of the region to build peace and stability for them."
Al-Kazemi said: "We are heading to fateful and decisive elections in a month and a half, which will strengthen the democratic path in the country, and we have worked for about a year and two months at various levels, to reform the economic, security and political tracks in the country, and we have succeeded in achieving great goals, and we are still going and committed to building an effective state." stable and sustainable.
In all of this, we look forward to regional cooperation with all the countries of the region, and it is relied upon, media professionals, to convey a true image that reflects the positives and achievements of your country, Iraq, and its diversity at various levels to the world. You are always influential, and what you will convey will help this. The ancient country is on the rise again, in order to regain its historical role, which extends back to seven thousand years.”
Publishes a list of the dollar exchange rates in the Iraqi local markets for Thursday, (August 26, 2021), according to the monitoring of specialists.
Baghdad - Stock Exchange of struggle
147,200
....
The price is in most Baghdad exchanges
Purchase
146,750
Sale
147,750
Basra - Bursa
147,400
Erbil - Bursa
147,375
Mosul - Bursa
147,400
Sulaymaniyah - Bursa
147,450
Najaf - Bursa
147,250
Kirkuk
147,400
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1430.9000 |  1481.8000 | 1457.2000 | 1456.6000 | 1456.6000 | 0.8000 | 12:52 |
| USD/VND | 22785.0000 | 22789.0000 | 22804.3300 | 22799.8000 | 22804.3300 | -5.6400 | 00:35 |
| USD/CNY |  6.4811 | 6.4831 | 6.4855 | 6.4739 | 6.4749 | 0.0062 | 05:27 |
| USD/KWD | 0.3005 | 0.3015 | 0.3007 | 0.3006 | 0.3007 | -0.0002 | 05:04 |
| GBP/USD | 1.3741 | 1.3743 | 1.3767 | 1.3731 | 1.3762 | -0.0019 | 05:28 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14435.0000 | 14435.0000 | 14452.0000 | 14408.0000 | 14410.0000 | 27.0000 | 05:26 |
A major collapse of the Iranian currency
On Wednesday, the Iranian currency recorded a major collapse against foreign currencies, shortly after the government of new President Ibrahim Raisi gained the confidence of the Islamic Consultative Assembly.
According to the "Aftab News" website, the price of one US dollar amounted to 280,810 Iranian riyals on the black market, while the value of the euro amounted to 320 thousand and 120 riyals, and the value of the pound sterling reached 387,560 Iranian riyals.
Since the beginning of last June, the exchange rate of the dollar has been constantly rising, and the Iranian national currency has lost about 15% of its value during this period.
Iranian officials did not say the reason for the sharp rise in the value of the dollar, but the Iranian Treasury recently reported that only “three percent” of oil revenues were generated this spring, with the withdrawal of the Iram network.
Oil was the most important source of foreign exchange for Iran in the period before the US sanctions imposed by the administration of former President Donald Trump, with annual sales of $60 billion.
According to the budget law, the government of former President Hassan Rouhani allocated $33.5 billion for oil exports this year, of which $19 billion is a share in the general budget, but only 3% of the expected figure was achieved this spring.
The price of the dollar at the beginning of last year was 160,000 Iranian riyals, but it reached its peak last November at about 320,000 riyals.
Iran faces a problem in providing hard currencies, including the US dollar; Because of the sanctions imposed by the administration of former US President Donald Trump, after withdrawing in 2018 from the 2015 nuclear agreement, the Iranian government was also prevented from accessing its blocked funds in foreign banks.
The depreciation of the Iranian rial affected the living and economic conditions in the country, as the prices of basic materials rose several times, and gold prices and the prices of cars and homes rose several times as well, and all the measures taken by the government of former Iranian President Hassan Rouhani failed to limit the price hike.
China sends a message to the international community regarding Iraq
The Chinese envoy urged the international community, on Thursday, to continue supporting the political process and helping Iraq in the field of combating terrorism, confronting the Corona pandemic and restoring its infrastructure.
China's deputy permanent representative to the United Nations, Geng Shuang, said during a virtual meeting of the UN Security Council on the situation in Iraq, quoting the Chinese News Agency, that the upcoming elections in October are a top priority on Iraq's current political agenda and a decisive step forward in its political transition. He called on the international community to continue supporting Iraq in advancing its domestic political process.
"China supports the Iraqi people's independent choice of the development path that meets their national reality," he added, noting the progress in the preparations for the elections.
He affirmed his support for the United Nations in providing electoral assistance to Iraq, expressing that the United Nations mission, UNAMI, plays a constructive role in ensuring the smooth and successful conduct of the elections.
He added, "The international community must continue its support for Iraq in fighting terrorism and maintaining national security and stability."
He stressed "the need to increase international support to help Iraq confront the threat of terrorism and expedite the deportation of foreign terrorist fighters to their countries."
"The international community must translate its aid commitments into action, effectively assist Iraq in rebuilding its infrastructure, accelerating social and economic development, and reversing the plight of vulnerable groups including the displaced and this assistance must not be accompanied by political conditions," he said.
The envoy added, "China is ready to continue working with the rest of the international community to support Iraq in combating COVID-19, accelerating reconstruction, restoring economic and social development, and achieving long-term peace and security, as the third batch of vaccines provided by the Chinese government has arrived in Baghdad."
Activating the Consumer Protection Law supports market monitoring
CBI Update: Just a note:
including $45,250,000. CASH
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8-25-2021 Intel Guru Frank26 Two years ago International banks got [new dinar note] 'specimens'. Yes. Now all the banks in Iraq are getting the 'specimens' to display for the citizens... [See Guru Walkingstick's post below for more details about the 'specimens']
8-25-2021 Newshound Guest Guru Desert Advisor This [Iraqi dinar revaluation] wouldn't be so crazy, well it kind of would be crazy if this didn't happen this year - Gamestop was up a thousand percent return this year. A thousand percent for Gamestop? People don't even go buy video games no more. You just download it straight to your computer/game console...Dogecoin...4,821 percent return. Seeing stocks go up, crypto currencies go up, I wouldn't not be in the least surprised to see currencies go up... Iraq looks very strong. Very very strong.
8-25-2021 Newshound Guru Breitling Question: "What are the changes of what occurred in Afghanistan can/will happen in Iraq? WTO or IMF froze all of Afghanistan's government access to their funds." If Iraq goes the way of Afghanistan the IMF and the WTO freezes Iraq's assets Iraq is going to have to revalue their currency. And you need to get out as quickly as possible if they do that, whatever the rate get out because it's going to go to nothing. You want an example? Venezuela.
8-25-2021 Newshound/Intel Guru Walkingstick & Frank26 The ATM machines and these [new denomination] notes...that are going to be arriving at banks very soon, it's all being coordinated. They're pushing the citizens to get into the banks to open up accounts...the [new note] 'specimens' are not for the ATM machines. That's why they're not in there. They're not legal tender... [See Guru Frank26 and Guru Walkingstick's posts from yesterday for more details.]
8-25-2021 Intel Guru Holly Wednesday Rv News: The news is very positive we will see this blessing this week or by the end of this month, which is Tuesday.
8-25-2021 Newshound Guru Pimpy There's no redemption centers. There's no 800 numbers. There's no military intel. The military don't got crap to do with it...there's no Tier one, tier two. There's no 'back screens'. Nobody has changed the rate...we talk about the different things that affect currencies and that's all currencies not just the dinar. We know what affect it and we pay attention to it to see if Iraq is on track. And they are.
8-25-2021 Intel Guru Frank26 The ATM machines, the old ones, they're online. The new ones, they're not online yet. The old ATM machines, they actually have the software of the new small category notes and they have the software of the 3 zero notes. The new ATM machines...thousands and thousands of them, they have the software for the new small category notes but they don't have it for the 3 zero notes. Iraqi citizens you're running out of time. The new ATM machines will be loaded with the new small category notes...they will eventually be online with the new exchange rate, with the new small category notes and the timing of the ATM machines and these [new note] "specimens" IMO is being coordinated... [Reference Guru Frank26 News Article 8-24-2021 below]
8-25-2021 Intel Guru MarkZ [via PDK] ... a cool banking story...So this person called a JP Morgan office in Florida to specifically ask about the currencies. They took a message and then called him back...Long story short…They asked how much he had and told him he will be very pleased and to expect a call back from them early next week or late this week. I have had a number of those bank stories lately...A number of these calls happened the end of last week and beginning of this week and we are only at Tuesday now...I firmly believe in my heart of hearts we will get our reset soon...
ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)
ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)
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