Sunday Slice: Saleh: The Central Bank Has A Comfortable Reserve That Helps It Impose Stability In Exchange Rates
These are the articles I discussed on the My FX Buddies Podcast:
Saleh: The Central Bank Has A Comfortable Reserve That Helps It Impose Stability In Exchange Rates
The economic expert and financial advisor to the government, Mazhar Muhammad Salih, confirmed today, Sunday, that the Central Bank currently possesses a comfortable cash reserve of foreign currencies, pointing out that there is a direct correlation between the current account surplus of the Iraqi balance of payments and the development of foreign reserves.
Saleh said in a statement to the "Information" agency, that "the monetary policy of the Central Bank of Iraq has today, a strong foreign reserve tool that can maintain the purchasing power of the Iraqi dinar and face inflationary expectations with a high capacity due to the surplus in the current account of the balance of payments."
He added that "the Central Bank of Iraq's dollar reserves can be exploited through the power of intervention to impose stability in the exchange market through open market operations exercised by the monetary authority to achieve the operational goals of monetary policy with ease and flexibility."
He pointed out that “there is a positive indicator of the accumulation of the foreign reserves of the Central Bank of Iraq during the year 2021 with a change in the direction of increase by more than 20% compared to the levels of the year 2020. .
And the Central Bank of Iraq revealed, earlier, the rise in the Iraqi hard currency reserves to 64 billion dollars.
https://www.theglobaleconomy.com/iraq/
International reserves, or foreign exchange reserves - deposits and bonds of foreign currencies held by central banks and monetary authorities - are important to support the currency and pay debts owed by the state.
Minister Of Agriculture: Changing The Exchange Rate Of The Dollar Destroyed The Iraqi Economy
Minister of Agriculture, Muhammad Karim Al-Khafaji, confirmed, on Sunday, that the change in the exchange rate of the dollar destroyed the Iraqi citizen and the economy, indicating that Iraq has achieved real sufficiency for eggs and poultry so far.
In a televised interview, Al-Khafaji said, "The change in the exchange rate of the dollar, which was adopted by the government earlier, destroyed the Iraqi citizen."
He added, "It is possible that wheat prices will rise globally, and this threatens the Iraqi economy," stressing that "until now we have not achieved real sufficiency for eggs and poultry in Iraq."
And on negotiating with Turkey on water, Al-Khafaji said that “the recently formed Supreme Water Council is the one who will take care of the negotiations, and that the Iraqi negotiator in the water file should not be below the rank of a minister.”
The Iraqis Bid Farewell To The Harshest Economic Year.. The Dinar Plunged And Spoiled The Dream Of Real Estate
The reform white paper adopted by Mustafa Al-Kazemi’s government caused historical economic repercussions, the first of which was the rise of the dollar or the dinar, then foodstuffs and medicine, and the end of the real estate crisis, whose prices had doubled by 300% in some areas.
A member of the Parliamentary Committee on Economy and Investment, Nada Shaker Jawdat, said in a statement to "Al-Maalouma" that "the current year is the harshest for citizens since 2003 until now, as the salaries of employees decreased by 30% due to the increase in the price of the dollar and the breaking of the prestige of the dinar."
Jawdat added, "Providing basic commodities has become a daunting task for most citizens, especially those with low or middle income, as it is not possible to buy medicines, which have risen and reached more than 50% of their previous value, while the share of bread has increased the most, as the price of a bag of flour rose to More than 45 thousand dinars, after it was 15 thousand dinars.
She explained that "the white paper, which adopted harsh economic policies, ended with raising the price of real estate in some areas to more than 300% under the pretext of granting loans and other issues, while the government stopped the most important housing projects such as the Basmaya project, which made the dream of buying a home difficult to achieve."
The Minister of Agriculture, Muhammad Karim al-Khafaji, had confirmed, on Sunday, that changing the exchange rate of the dollar destroyed the Iraqi citizen and the economy.
In addition, the economic expert, Basem Antoine, called on the next government to announce the establishment of a sovereign investment fund in order to exploit the surplus oil, indicating that the fund contributes to eliminating unemployment.
Antoine said in a statement to Al-Maalouma that "oil prices will exceed 100 during the next two months and will continue until the middle of next year due to the increase in industrial activity after the easing of restrictions due to Corona."
US Treasury: Iraq's holdings of bonds increased to $20 billion
The US Treasury announced that Iraq's holdings of US bonds increased by more than two billion dollars to reach 20.364 billion dollars during the month of October.
The treasury said in its schedule, and it was monitored by the independent today, Sunday, that "Iraq's possession of US Treasury bonds for the month of October rose by 2.410 billion dollars, or 13.55%, to reach 20.364 billion dollars, after it was 17.954 billion dollars in the month of September."
Indicating that "these bonds decreased from the same month of last year 2020, when Iraq's possession of bonds amounted to 21.6 billion dollars."
And she added, "Iraqi bonds, including long-term guarantees amounting to 9.028 billion dollars and short-term guarantees amounting to 11.336 billion dollars," noting that these bonds represent 0.2% of the world's bonds.
In the Arab world, Saudi Arabia is at the forefront of the most possessing countries, with an amount of 116.4 billion dollars, followed by the UAE with 53 billion dollars, Kuwait third with 45.9 billion dollars, then Iraq fourth, Oman fifth with 5 billion dollars, then Morocco with 3.7 billion dollars.
She pointed out that "the most countries in possession of US bonds are Japan, with a value of 1.320 trillion dollars, followed by China, with a rate of 1.065 trillion dollars, followed by Britain, with a rate of 579 billion dollars
Iraq announces that its military bases are free of foreign forces
Iraq confirmed today, Sunday, that the military bases in Iraq have become devoid of any combat forces of the international coalition.
The spokesman for the Commander of the Armed Forces, Major General Yahya Rasoul, said that the Ain al-Assad base in Anbar Governorate is currently under the full control of the Iraqi forces, and there are advisers working to provide logistical support and empower the Iraqi forces. He added, that the base is Iraqi, and that the advisers are also part of the Iraqi protection. He said that several places inside the base were completely emptied of foreign combat forces, and some sites belong to the delivery of equipment and logistical support equipment to the Iraqi forces, including weapons, vehicles and equipment that support our forces in the mission of defending the country.
Iraq and America agreed to move the relationship from a combat presence to support forces, training and providing advice, ending on December 31, 2021.
A statement from a US official about the missile attack in Baghdad
On Sunday, a US official indicated that the dawn missile attack targeted the US embassy in the Green Zone in central Baghdad.
The official said in a statement followed by "Nass" (December 19, 2021), that "the US military shot down a missile that was fired at the embassy."
The official, who was quoted by "Fox News", added that a second missile fell north of the embassy compound in the heart of the capital, Baghdad.
The official said that the first missile was hit by the C-Ram anti-missile and mortar defense system, noting that there were no reports of casualties.
Officials in Washington expect that the attacks of the Iranian-backed armed factions will increase in the coming weeks, according to Reuters.
Earlier, the Security Media Cell issued a statement about the incident.
A brief statement of the cell, a copy of which was received by "Nass", stated that "the Green Zone in Baghdad was bombed by two Katyusha rockets, as the first was detonated in the air by the Ceram system, and the second fell near the celebrations square, causing damage to two civilian vehicles, as the security forces began an investigation and determination of the launch site.
Eyewitnesses reported hearing a strong explosion that shook the heart of the capital, Baghdad, before three o'clock midnight on Saturday (December 19, 2021).
Fateh Khaybar Brigade decides to start targeting US forces in Iraq
The so-called "Fateh Khaybar Brigade" decided to target the American forces in Iraq with "painful" strikes.
And a statement issued by this brigade stated: "The American enemy does not understand the language of dialogue and peace, and only the force of arms can benefit from it."
The general stated that the deadline given to the US forces "is nearing the end and the agreement has not been implemented" to leave the country.
According to the data that came in the statement, Fateh Khaybar decided to confront the American forces with "painful strikes that disturb their sleep and shake their foundations."
On December 8, the Sayyid al-Shuhada Brigades decided to postpone the targeting of US forces until "further notice", to allow the celebration of Christmas.
And the Secretary-General of the Brigades, Abu Ala Al-Wala’i, stated in a blog post on November 19, 2021: “With the approaching hour of decisiveness and the major confrontation, the Islamic Resistance, the Sayyid Al-Shuhada Brigades, announces the opening of the door to belonging and volunteering to its ranks and calls on our resistance Iraqi people and the resistance factions to raise the level of readiness In preparation for the decisive and historic confrontation with the American occupation on December 31, 2021, after 12 pm.
Pictures.. A remarkable turnout of Baghdadis on the "Christmas" tree and "Santaclaus"
The Iraqis, like the peoples of the world, started the countdown to celebrate Christmas and New Year's Day, as its revival has become an annual habit, where the streets and houses are decorated with the Christmas tree, and all sects gather in front of this famous "Christmas" tree.
However, this year seemed different, according to what was monitored by the lens of Shafak News Agency, with a strong and remarkable turnout for citizens to buy the tree and the dolls in their red clothes, especially "Santa Claus" or what is known as "Santaclaus".
In a field tour, Shafak News moved between the shops and streets of the famous Shorja market (the largest mall in Baghdad), to monitor preparations for the New Year celebrations, and according to the tour, the "Christmas" tree, as well as "Santa Claus" and colored dolls, topped the purchases of the Baghdadi citizens who flocked to buy them. Unprecedented turnout.
The Christmas tree or Christmas tree is one of the most widespread and main symbol of Christmas traditions, and it has many shapes. The tree may be a coniferous or green cone tree such as spruce, pine, cypress, or an artificial tree of similar appearance.
As for "Santa Claus" or "Papa Claus", it is a mythical character associated with Christmas, and is known as an old man who is always happy and fat, with a white beard and dressed in red marked with a long white line in the middle with a black belt and a red fez, and in his hands a large red box filled with gifts and sweets Which he distributes to whoever meets him on the road, descends on his house, or enters it through open windows and small door cracks, as is well known in children's stories.
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