WOTS MON APR 25 22
Experts: The emergency support law revives the Iraqi economy
These are the articles I discussed on the MY FX Buddies Podcast:
Al-Fateh warns against preparing the 2022 budget by the AlKazemi government and outlines the reasons
The representative of the Al-Fateh Alliance, Rafiq Al-Salihi, confirmed today, Monday,
the lack of confidence in the caretaker government regarding the numbers of the
.country's general budget
Al-Salihi said in a statement to (Baghdad Today), "We are with the management of
economic conditions, and that the wheel of growth does not stop and projects
".continue to work through the approval of the budget
He added, "In the event that the caretaker government prepares the budget, it may cause the loss of Iraq's money by granting large funds for unrealistic or unimportant matters for the purpose of satisfying those who support it or satisfying one party ".without another Al-Salihi continued, "The caretaker government is not worthy of preparing the budget because this government is tainted by many suspicions, so it is not possible to put ".the country's capabilities at the disposal of the current administration of the state
Disclosure of the secret of the US Chinook aircraft landing in an Iraqi province
Today, Monday, an informed source revealed the secret of repeated US .Chinook landings in an Iraqi province In an interview with (Baghdad Today), the source said, "The last five days, two airdrops were recorded in Hamrin (75 km northeast of Baquba) and the outskirts of the Canaan desert (30 km east of Baquba) for US Chinook aircraft carrying unknown special forces that carried out undeclared ".operations
The source added, "The operations are still very secretive, and the targets that were targeted in the landing operations are not known, and whether they are Iraqi or foreign," noting that "the issue was recently discussed at the highest security levels, especially after monitoring these planes in Hamrin recently, which was followed by a bloody attack targeting the crowd."
The tribesmen in Kashkoul near Qara Tabeh district (110 km ".northeast of Baqubah) led to casualties He pointed out that "Diyala witnessed in the past years qualitative and very secret operations that mainly targeted dangerous leaders in ISIS and outlaws after the results were revealed later," stressing that "such operations are managed directly from Baghdad by high-ranking leaders, but the announcement of some of its details is from
The controversy now being ".resolved is whether these operations were informed by Baghdad or not
This evening.. an upcoming meeting of the leaders of the coordination framework at Al-Maliki's house
The leaders of the coordination framework will hold an important meeting this evening, Monday, at the home of the leader of the State of Law coalition, Nuri al-Maliki , and an informed source said that the meeting will discuss the political blockage and dialogue with the political blocs and the latest developments in the political and security situation in the country
?What does high foreign exchange reserve mean
Disclosure of the position of the Sadrist movement and the coordination framework regarding the dissolution of the parliament presidency - urgent
A member of the House of Representatives, Aref Al-Hamami, clarified today, Monday, that there is a conviction among the major political blocs to dissolve parliament after .the failure of talks to form a government
Al-Hamami said in a statement to (Baghdad Today), "All the major political blocs do not go to the opinion of dissolving parliament and re-running the elections, even by 1%, including the coordination framework and the Sadrist movement, because the ".country is not ready for this matter He added, "We hope that there will be signs of a breakthrough to the political crisis in the next few days and that there will be consensus among all the blocs to form a ".government as soon as possible
Oil falls to its lowest level in two weeks as demand fears are fueled
Oil prices fell to a two-week low on Monday, extending losses from last week, as fears grew that a prolonged COVID-19 shutdown in Shanghai and a possible US interest rate hike would hurt global economic growth and fuel demand.
Brent crude futures were down $3.15, or 3.0 percent, at $103.50 a barrel by 04:26 GMT.
US West Texas Intermediate crude futures fell $3.01, or 3.0%, to $99.06 a barrel, after sliding earlier to $98.93, the lowest since April 12.
Shanghai authorities battling the COVID-19 outbreak have erected fences outside apartment buildings, sparking fresh public anger over the lockdown that has forced many of the city's 25 million residents indoors.
US Federal Reserve Chairman Jerome Powell has indicated that a half-point rate hike "will be on the table" when the Fed meets in May to approve the next, in what is expected to be a series of, hikes this year.
On the supply side, US energy companies added oil and natural gas rigs for the fifth consecutive week amid rising prices and government urging.
Some analysts said the worsening crisis in Ukraine could increase pressure on the European Union to punish Russian oil and prices could rise later this year.
Financial Inclusion Week
Mohamed Sharif Abu Maysam
What is Al-Sadr’s position regarding the fact that Israel is the third largest importer of the region’s oil?
Aswar // Saadoun Al-Hilli: Iraqis are asking questions about the position of the leader of the Sadrist movement Muqtada Al-Sadr, who is an ally of Massoud Barzani in the tripartite alliance, about the position on the fact that Israel is the third largest importer of the region’s oil, as information indicates that Erbil is one of the largest oil exporters to Tel Aviv. Which may impede the normalization bill with Israel proposed by the leader of the Sadrist movement, Muqtada al-Sadr.
Economist Nabil Al-Marsoumi said, on Monday, April 25, 2022, that Israel is the third largest importer of Kurdistan oil, as its imports during the first quarter of this year amounted to 5.582 million barrels, at a rate of 62,000 barrels per day, which is equivalent to 15% of the oil exported from Kurdistan, while Italy comes in first place By 37%, then Greece by 27%.
He added that, according to Deloitte's data for the first quarter of 2022, Kurdistan exports 36,460 million barrels, and the average export rate is 405,000 barrels per day.
On Sunday, April 24, 2022, the National Salvation Union announced that it had submitted a proposal to criminalize normalization with Israel to Parliament, calling for a vote on it.
According to the information, the law came to cover the continuation of the two poles of the Triple Alliance (the Kurdistan Democratic Party and the Alliance of Sovereignty) with their inner relationship with Israel, in exchange for removing embarrassment from the Sadrist movement.
The continuation of the esoteric relationship of the Kurdish and Sunni forces means that Barzani's party will not change its esoteric relations with Israel, as severing Erbil's relationship with Tel Aviv is impossible because the region is one of the largest oil financiers of Israel.
Documents circulated on social media showed that the region had exported oil to Israel, while information revealed that Kurdistan’s oil covered Tel Aviv’s needs by 70% at very low prices.
In numbers.. Iraq achieves a surplus of 7 trillion dinars within two months
And the corporation expected, in a statement received by {Euphrates News}, a copy of it, that "Iraq will achieve if oil prices continue at their normal rates and current and investment expenditure rates continue at the same pace followed by an annual surplus that will reach 25 trillion dinars."
She pointed out that "the rise in this surplus is due to the rise in oil prices globally and the failure to approve the 2022 budget, which made expenditures continue at the same rates that were in 2021.
It was not clear if there was any approval of the 2022 budget as a result of the lack of agreement on forming a government that would enable it to present A budget to the House of Representatives for the purpose of legislating it.”
Finance Minister Ali Allawi described yesterday, Sunday, the financial situation in the country as “very good and we do not need support from any foreign parties, except for certain projects.
Experts: The emergency support law revives the Iraqi economy
Economist: The Government Will Do Financial Justice To Some Segments In Order Not To Reduce The Dollar
between the economic expert Wissam Al-Tamimi, that talking about adjusting the salary scale of employees and going to other options are nothing but measures intended to maintain the dollar exchange rate at its current level, something that will benefit some segments while most of the people will continue to suffer from the high cost of living.
Al-Tamimi told Al-Maalouma, "The emergency support law, increasing the items of the food basket, supporting the ration card, and amending the salary scale for employees, are all measures that will not be sufficient to reduce prices and reduce the burden of the cost of living."
He added that "the government may move to take a lot of measures in order to ensure that the dollar exchange rate is not reduced, which most of the political class benefited from by continuing to trade in currency auctions and benefiting from their money in international banks."
And he indicated that "most of the political class is pushing to maintain the exchange rate of the dollar, in order to serve its projects, especially since most of this class controls housing projects, factories, factories, tourist facilities and private universities."
He pointed out that "the government will work to do justice to some segments under the pretext of addressing the consequences of the high exchange rate of the dollar, including the segment of employees, which constitutes only 10 percent of the Iraqi population, while most of the people will suffer from the high cost of living and high prices."
Al-Kazemi’s advisor expects 3 gains for Iraq after meeting with the International Monetary Fund and the World Bank
Al-Jubouri, technical advisor to the Prime Minister, identified the most important proposed projects, which are expected to be discussed with the International Monetary Fund and the World Bank during an upcoming meeting in Baghdad, and 3 of the gains expected to be made by Iraq, while he explained the extent of investment in surplus oil prices in implementing the support law. Emergency Food Security and Development.
Al-Jubouri told Al-Iraqiya News and followed by the Iraqi News Agency (INA), that "the recent World Bank report indicated that there had been positive growth in the Iraqi economy, in both its oil and non-oil parts, and this came after economic reforms through corrective steps taken by the current government and the previous parliament."
He added, touching on the current problems that the economy suffers from, that "the inflation rate was 6% in 2020, and in the last two years it rose to 7.9%, and the reasons for this are the first of which is the increase in the monetary mass offered in the Iraqi market, which rose from 51 trillion dinars to 76 trillion, an increase of 25 trillion dinars, and the second reason is the increase in the dollar's exchange rate against the dinar."
He pointed out that "the unemployment problem has also risen to 12.7%, due to the outbreak of the Corona pandemic and the suspension of some production plants," noting that "the revenues generated as a result of high revenues can address the problems of inflation and unemployment if invested correctly."
On the upcoming meeting that government officials will hold in Baghdad with representatives of the International Monetary Fund and the World Bank, al-Jubouri said that “the two parties were briefed on government reforms represented in the white paper and had valuable observations, which were not binding on the Iraqi government, and their observations are viewed by international institutions into consideration, especially with regard to granting loans and investments.
He stressed that "the World Bank provides loans at a zero interest rate and a repayment period of more than twenty years to the Iraqi government in order to support the investment budget and does not grant any loans to the operating budget such as salaries and expenses."
He pointed out that "Iraq needs the implementation of new projects in the field of rail linkage and new roads, the completion of the great port of Faw and the development of airports, and these are plans that can be supported by the World Bank after its last positive report."
He pointed out that "the World Bank will study these plans after they are presented by the Iraqi side at the meeting, and perhaps finance part of them, and this is a great gain for Iraq because it will push the wheel of development, increase job opportunities and create productive projects."
Regarding the extent of investment of the financial mass achieved from the increase in oil imports in the Emergency Support Law for Food Security and Development, Al-Jubouri explained, “It will go to strengthen the vocabulary of the ration card, support farmers and peasants, cover the costs of oil production, import electric power and gas, and pay off Iraq’s debt, and 30% of it will go to developmental investment projects. "
In its report issued during the current month of April, the World Bank confirmed that Iraq ranked first in the Arab world with the largest growth in GDP and per capita for the year 2022.
The World Bank report expected that "Iraq's gross domestic product will grow during the current year by 8.9 percent, surpassing the rest of the Arab countries, including Qatar, which is expected to grow by 4.9 percent, Saudi Arabia 7 percent, Kuwait 5.7 percent, UAE 4.9 percent, Algeria 3.2 percent, Egypt 5.5 percent, and Jordan." 2.3 percent and Morocco 4.3 percent.
He added, "The growth of Iraq's GDP will be 4.5 percent, similar to Qatar, and it will rise in Egypt to 5 percent, Saudi Arabia will have 3.8 percent, Kuwait 3.6 percent, Algeria 1.3 percent, Tunisia 3.5 percent, and Jordan 2.3 percent."
The World Bank report indicated that "Iraq will also be the highest among the Arab countries in terms of per capita GDP growth during 2022, at 6.3 percent, while Saudi Arabia's per capita growth will be 5.5 percent, Kuwait 4.5 percent, Bahrain 1.4 percent, Egypt 3.6 percent, and Qatar." 4.5 percent, while Morocco will decrease 0.1 percent.
Al-Asadi: The door to dialogue between the framework and the current has not been closed.. and negotiations will return soon
Head of the National Bond bloc, MP Ahmed Al-Asadi, revealed today, Monday, that the blessings of the month of Ramadan will flood the Eid Al-Fitr of understanding between the political forces, in reference to signs of a soon breakthrough that will end the political blockage.
Al-Asadi said in a televised interview, which was followed by Earth News, that "the blessings of the holy month will overflow on the feast of an understanding between the political forces," stressing that "neither the coordinating framework nor the Sadrist movement can gather 220 deputies."
He added, "The door of dialogue between the framework and the movement has not been closed to end the political clash, despite the deadline set by the leader of the Sadrist movement, Muqtada al-Sadr."
Al-Asadi continued, "The framework met with Sadr in Al-Hanana in order to reach political understandings, and we informed him of the need to preserve the largest Shiite bloc."
He continued, "The forces of the coordination framework provided evidence of fraud in the elections," noting that "it was built on incorrect results."
Al-Asadi indicated that the Lebanese scenario based on consociationalism is not suitable for its application in Iraq, "noting that the Iraqi political blocs have transformed the quotas into a bazaar for sharing positions."
Iraq has been experiencing a severe political crisis, since the election results were announced, due to the conflict between the two poles of the equation, the “coordinating framework” and the “triple alliance” over the largest bloc and the form of the next government.
The coordinating framework forces seek to form a “consensual government” in which all political parties participate, similar to previous governments after 2003, while the leader of the Sadrist movement, Muqtada al-Sadr, insists in return on forming a “majority government.
Al-Kazemi issues directives to end the problem of Iranian gas flow
Today, Monday, Prime Minister Mustafa Al-Kazemi issued new directives to end the problem of importing Iranian gas and re-pump its agreed quantities prior to the visit of an Iraqi government delegation to Tehran.
A spokesman for the Ministry of Electricity, Ahmed Moussa, told the official channel, which I followed (Al-Oula News), that "the Prime Minister is supervising on a daily basis the file of electrical energy supply with the aim of standing up to obstacles and overcoming them. During his visit today to the ministry, a meeting of the Ministerial Energy Council was held."
He added, "The Prime Minister listened to the ministry's plan to increase production capacities and introduce strategic transport lines between the governorates, and listened to a set of proposed measures to improve the reality of electricity." He added that "the Ministry of Electricity confirmed the necessity of finding continuous financial liquidity to support its work, and the Council of Ministers voted to allocate 500 billion Iraqi dinars to support the Ministry of Electricity's operational plan, and so far it has not been available, and the Prime Minister will discuss financing the operational plan for electricity with the Ministry of Finance tomorrow."
And he indicated that "the Prime Minister directed to release the above amount as of tomorrow." And Moussa stressed that "the ministerial council meeting also touched on the problems facing the West Baghdad-Bayji line, and implementation was referred to the Ministry of Electricity, and we also put forward the necessary fuel plan, and the meeting also touched on a visit The government delegation to Iran to solve the gas problem, and the Prime Minister instructed to follow up the issue quickly, and we believe that within two days the delegation will be formed with the membership of officials from the ministries of Electricity, Finance, Oil and the Trade Bank of Iraq to discuss the releases and pay the dues.”
He pointed out that “tomorrow’s meeting of the Council of Ministers in its regular session will witness the presence of the Minister of Finance and with him the payments allocated to repay the gas debts, and the director of the Fuel Center in the Ministry of Electricity will be hosted, and the matter will be discussed with the Minister of Oil. One billion dollars for the year 2020 because there was no budget and the ministry paid what it owed during the past year.”
He stressed that "Al-Kazemi issued several directives to the delegation that will visit Iran, and we expect an Iraqi-Iranian agreement that will allow the perpetuation of the flow of gas in a manner commensurate with the Iraqi need."
He stressed that "the meeting also discussed the issue of overtaking on electric power, as there are more than one million irregular users in Iraq."
During today's meeting of the Ministerial Council for Energy, Prime Minister Mustafa Al-Kazemi renewed, today, Monday, his previous directives to invest time in providing electrical energy.
The Media Office of the Prime Minister said in a statement received by (Al-Oula News), that "Prime Minister Mustafa Al-Kazemi conducted a visit today to the headquarters of the Ministry of Electricity, and chaired an expanded meeting of the Ministerial Council for Energy, which was attended by the advanced staff of the Ministry of Electricity."
He added, "The meeting witnessed a brief presentation before the Prime Minister of the Ministry's procedures and cadres in relation to maintenance and follow-up, its latest preparations to face the summer season, and the efforts made to ensure higher hours of supplying electric power to citizens," noting that "Al-Kazemi followed the progress of preparations in a file processing." Iranian gas and electricity, executive details of emergency financial allocations, and the recent cabinet decision to allocate an amount of 500 billion dinars within the operational plan for the electricity sector.
And he indicated, "The meeting examined the progress of cooperation mechanisms between the ministries and the concerned authorities that provide support to the Ministry of Electricity, as well as the efforts made to protect the transmission towers of electric power and protect the components of the national network," noting that "the work of the power line of the Nakara Al-Salman district was reviewed." The progress of work in the Maysan investment station, the rehabilitation of the Baiji line west of Baghdad and the requirements of the Ministry of Electricity in this regard, as well as the Turkish line project.
Al-Kazemi renewed his "previous directives to invest time and the need to prepare and reserve for emergency situations, and to provide a quick alternative in the event that some lines are subjected to being out of service, in addition to the importance of securing specialized cadres in sites that require speedy procedure and treatment."
Below here is the daily WOTS report "Word on the Street" for APR 25 2022
The exchange rates of the dollar on the Iraqi Stock Exchange, on Monday (April 22, 2022), according to the monitoring of specialists.
Baghdad - the stock exchange
147,450
The price in most exchanges
147,000
148,000
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1433.5000 |  1489.1000 | 1457.9000 | 1456.6000 | 1457.9000 | -2.4000 | 13:03 |
| USD/VND | 22983.0000 | 22986.0000 | 22972.7600 | 22962.6600 | 22962.6600 | 11.1300 | 02:27 |
| USD/CNY | 6.5645 | 6.5665 | 6.5652 | 6.5004 | 6.5006 | 0.0636 | 05:15 |
| USD/KWD |  0.3053 | 0.3063 | 0.3052 | 0.3052 | 0.3052 | 0.0000 | 04:59 |
| GBP/USD | 1.2724 | 1.2725 | 1.2860 | 1.2714 | 1.2860 | -0.0098 | 05:15 |
| USD/IRR | 42100.0000 | 42600.0000 | 42285.7000 | 42272.4000 | 42285.7000 | 13.8000 | 12:57 |
| USD/IDR | 14443.0000 | 14443.0000 | 14489.0000 | 14404.0000 | 14442.0000 | -7.0000 | 05:14 |
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Oil falls to its lowest level in two weeks as demand fears are fueled
Oil prices fell to a two-week low on Monday, extending losses from last week, as fears grew that a prolonged COVID-19 shutdown in Shanghai and a possible US interest rate hike would hurt global economic growth and fuel demand.
Brent crude futures were down $3.15, or 3.0 percent, at $103.50 a barrel by 04:26 GMT.
US West Texas Intermediate crude futures fell $3.01, or 3.0%, to $99.06 a barrel, after sliding earlier to $98.93, the lowest since April 12.
Shanghai authorities battling the COVID-19 outbreak have erected fences outside apartment buildings, sparking fresh public anger over the lockdown that has forced many of the city's 25 million residents indoors.
US Federal Reserve Chairman Jerome Powell has indicated that a half-point rate hike "will be on the table" when the Fed meets in May to approve the next, in what is expected to be a series of, hikes this year.
On the supply side, US energy companies added oil and natural gas rigs for the fifth consecutive week amid rising prices and government urging.
Some analysts said the worsening crisis in Ukraine could increase pressure on the European Union to punish Russian oil and prices could rise later this year.
Disclosure of the position of the Sadrist movement and the coordination framework regarding the dissolution of the parliament presidency - urgent
A member of the House of Representatives, Aref Al-Hamami, clarified today, Monday, that there is a conviction among the major political blocs to dissolve parliament after .the failure of talks to form a government
Al-Hamami said in a statement to (Baghdad Today), "All the major political blocs do not go to the opinion of dissolving parliament and re-running the elections, even by 1%, including the coordination framework and the Sadrist movement, because the ".country is not ready for this matter He added, "We hope that there will be signs of a breakthrough to the political crisis in the next few days and that there will be consensus among all the blocs to form a ".government as soon as possible
Al-Fateh warns against preparing the 2022 budget by the AlKazemi government and outlines the reasons
The representative of the Al-Fateh Alliance, Rafiq Al-Salihi, confirmed today, Monday,
the lack of confidence in the caretaker government regarding the numbers of the
.country's general budget
Al-Salihi said in a statement to (Baghdad Today), "We are with the management of
economic conditions, and that the wheel of growth does not stop and projects
".continue to work through the approval of the budget
He added, "In the event that the caretaker government prepares the budget, it may cause the loss of Iraq's money by granting large funds for unrealistic or unimportant matters for the purpose of satisfying those who support it or satisfying one party ".without another Al-Salihi continued, "The caretaker government is not worthy of preparing the budget because this government is tainted by many suspicions, so it is not possible to put ".the country's capabilities at the disposal of the current administration of the state
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