Friday Report NOV 26 21 Central Bank Governor: The "Iraqi" economy is achieving good growth
No My FX Podcast today but I did want to post this article that is pretty encouraging:
Iraq and Turkey are discussing opening bank branches and facilitating private transfers for residents
Makheif said in a statement during his meeting with his Turkish counterpart, "Our visit aims to develop banking relations between the two countries, support the opening of branches of Iraqi banks in Turkey and open mutual accounts, in a way that contributes to the development of trade relations between the two countries on the basis of reciprocity."
The Governor of the Central Bank called on his Turkish counterpart, to "provide facilities to Iraqi banks in a way that facilitates the settlement of the trade balance between the two countries and the transfer of funds belonging to Iraqis residing in Turkey."
For his part, the Governor of the Central Bank of Turkey praised "the efforts made by the Central Bank of Iraq in developing the national economy, stressing that it is ready to open the doors of cooperation and facilitate banking operations between the two countries.
Economist: Huge budgets and large revenues lack economic solutions and face corruption
Antoine told Al Furat News that "there are huge budgets and large financial revenues, but we do not find any economic solutions for the country."
He added, "As well as the spread of economic problems and the large spread of unemployment, and huge numbers of citizens below the poverty line."
Antoine pointed out, "a great paralysis afflicts the productive and tourism sectors, caused by a waste of public money and widespread corruption in all parts of the state."
The Iraqi Ministry of Finance revealed that it had started preparing the 2022 budget, which it described as "reformatory" that faces "the reality of Baghdad's obligations."
For his part, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the completion of the draft budget for next year, explaining that the budget will include a hypothetical deficit that will be paid from the funds of the oil price difference.
He pointed out that the draft 2022 budget was completed, but it is not discussed in the Council of Ministers, because the current government in the conduct of business developed, pointing out that the budget will be presented to the next government are installing observations on them, and then turned to the House of Representatives. "
And that passed will be after The formation of the new parliament, adding that "the Ministry of Finance has set, according to the upcoming budget, 50 dollars per barrel of oil, and the rest was considered as a hypothetical deficit to be paid from the differences in high oil prices."
New confirmation of communications: We do not deal in dollars
The ministry's spokesman, Raad al-Mashhadani, told {Euphrates News}, "The Ministry of Communications is sovereign. It does not deal in dollars at all, but in Iraqi dinars, and this prompted us to provide a purely Iraqi service, which is (Viber to Home) in Iraqi dinars."
And he indicated that "the prices of calls for this service amounted from a landline fiber to the last 5 Iraqi dinars, and from a landline fiber to the last provinces, it is 10 dinars, and from my landline to a mobile phone is 50 dinars per minute," stressing that "these prices are supported by the Ministry of Communications.
The Governor of the Central Bank of Iraq meets the head of the Banking Licensing and Supervision Authority in Turkey
The two parties discussed the importance of joint interaction and the exchange of experiences between Iraq and Turkey, and His Excellency stressed the need to develop banking relations between Iraqi and Turkish financial institutions, in addition to supporting Iraqi banks wishing to open branches in Turkey in accordance with the principle of reciprocity, as well as stimulating the branches of licensed Turkish banks in Iraq to Develop its business and presence in the Iraqi market.
His Excellency the Governor of the Central Bank of Iraq said that the Iraqi economy is achieving good growth, according to the indicators issued by international institutions such as the International Monetary Fund and the World Bank, and therefore Iraqi banks have the ability and ability to be present in more than one country such as Turkey and others, adding that the Central Bank worked throughout the period. The past has supported the economy through banks, and this helped in the development of Iraqi banks.
On the sidelines of the meetings, representatives of Iraqi banks met with major Turkish banks and discussed banking relations and future cooperation to serve the two countries.
November 26, 2021
Central Bank Governor: The Iraqi economy is achieving good growth
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, confirmed on Friday that the Iraqi economy is achieving good growth.
And the bank stated in a statement that Mawazine News received a copy of it, that "the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, met the head of the Banking Licensing and Supervision Authority in Turkey, Mehmet Akban, on the sidelines of the invitation addressed to him by the Turkish Central Bank during his official visit to the Republic of Turkey, accompanied by A number of heads of Iraqi private bank boards.
The statement added, "The two parties discussed the importance of joint interaction and the exchange of experiences between Iraq and Turkey, and His Excellency stressed the need to develop banking relations between Iraqi and Turkish financial institutions, in addition to supporting Iraqi banks wishing to open branches in Turkey in accordance with the principle of reciprocity, as well as stimulating bank branches." Turkish licensed in Iraq to develop its business and presence in the Iraqi market.
The Governor of the Central Bank of Iraq said, according to the statement, that "the Iraqi economy is achieving good growth, according to indicators issued by global institutions such as the International Monetary Fund and the World Bank, and therefore Iraqi banks have the ability and ability to be present in more than one country such as Turkey and others," adding that "the Bank The Central Bank has worked over the past period to support the economy through banks, and this has helped in the development of Iraqi banks.”
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