WOTS THU JUL 7 22
The Central Bank of Iraq: There are currently no sufficient justifications to change the exchange rate of the dollar against the dinar / expanded
These are the articles I discussed on the My FX Buddies Podcast:
The Central Bank of Iraq: There are currently no sufficient justifications to change the exchange rate of the dollar against the dinar / expanded
The Central Bank of Iraq has settled the controversy over the parliamentary and societal demands to change and restore the currency exchange rate against the Iraqi dinar.
The Deputy Governor of the Central Bank, Ammar Khalaf, stated, in a statement to the National Iraqi News Agency ( NINA ), that "there is no justification for changing the exchange rate at the present time, and we, as a monetary authority, do not find that there is a sufficient justification to change the currency exchange rate for the time being," noting He pointed out that "the currency exchange rate has changed more than once since 2004 until now, due to monetary policy tools and economic conditions, whether to strengthen or reverse the value of the dinar."
He added, "The economic circumstance is the main ruler in the currency exchange rate, as there is no time limit planned for five years or less or more for changing the exchange rate, which is subject within monetary policy to the competence of the Central Bank exclusively."
He explained, "When the Central Bank sees that there is a necessity, the exchange rate is changed, but at the present time we do not find a necessity or justified need to modify the current exchange rate."
He continued, "The economic conditions determine the appropriate decision-making and in a manner appropriate to the time period," noting that "the monetary policy is characterized by flexibility, but in general it is not good for the exchange rate to be changed quickly because it confuses local markets and weakens the wheel of the economy."
And the government official considered, “It is incorrect for the central bank to change the exchange rate during a convergent time limit, as it will affect the movement of the markets and reduce investment and production,” noting that: “During the first quarter of 2021, we took steps to change the exchange rate when we found a quasi-economic stagnation. In business."
The Food Security Law .. Does it guarantee all the financial ?surpluses achieved for Iraq
Today, Thursday, the economic expert, Manar Al-Obaidi, commented on the fact that all financial surpluses go to finance the provisions of the .Food Security Law Al-Obaidi said, to (Baghdad Today), that "the information that talks about the disappearance of the financial surpluses that were achieved from the rise in oil prices since the beginning of the year to finance the paragraphs of the Food Security Law is ".absolutely incorrect, so it is not possible to spend all of this surplus in one time
And he indicated that "it is not a necessity or a condition that Iraq spends all the allocated matters within the provisions of the Food Security Law," explaining that "even the public budgets do not spend all the funds allocated in them, and a lot of ".unspent funds remain for several reasons
And he added, "This matter will apply to the provisions of the Food Security Law, and that is why not all the financial surpluses of the past months will go to finance the ".provisions of the law It is noteworthy that the House of Representatives voted on the eighth of last month .on the law of emergency support for food security, in the presence of 273 deputies
Photos: A new meeting between the presidents of the republic and the ministers in the presence of Bafel Talabani in Baghdad
The President of the Patriotic Union of Kurdistan, Bafel Jalal Talabani, discussed today, Thursday, with the President of the Republic, Barham Salih, and Prime Minister Mustafa Al-Kazemi, the political, economic and security situation in Iraq.
Talabani's media office said, in a statement received by Earth News, that he "received the President of the National Union, Pavel Jalal Talabani, at the home of President Mam Jalal in Baghdad, the President of the Republic, Barham Salih, and the Iraqi Prime Minister, Mustafa Al-Kazemi."
He added, "During the hosting, the political, economic, and security situation in Iraq was discussed, and efforts to gather political forces and parties and to give priority to the language of dialogue and understanding were highly appreciated."
He continued, "During the discussions, the government's role in improving citizens' lives and providing more services was discussed. He also described continuing efforts to make the reform process successful and confront corruption important."
Talabani stressed "to perpetuate the wise policy of President Mam Jalal, and said: The Presidency of the Republic and the Prime Minister can play an important and effective role in building peace and stability in Iraq." He added, "We hope that dialogue and understanding will be a basis for action, and that all efforts will be for a more prosperous future for citizens."
Khazali and Al-Halbousi issue a unified position regarding the formation of the next government
The Secretary-General of Asa'ib Ahl al-Haq movement, Qais Khazali, received today, Thursday, Muhammad al-Halbousi, Speaker of the Iraqi Parliament.
Khazali's media office said in a statement received by Earth News, "During the meeting, they discussed the most important political events taking place in the country, and discussed the obstacles facing the Iraqi political process and ways to solve them in a manner consistent with the nature of the sensitive stage."
At the conclusion of the meeting, “the two sides stressed the need for joint cooperation between all parties and components and to send messages of reassurance to all political parties aimed at advancing the political reality and not being drawn into calls and ideas that hinder the formation of a solid and coherent national government,” according to the statement.
Baghdad always sends money.. Why doesn't the payment of ?salaries in Kurdistan turn to electronic
Today, Thursday, the leader of the New Generation Movement, Hamaddad Ahmed, revealed the main reason for the Kurdistan government's failure .to distribute the salaries of retirees according to the electronic system Ahmed told (Baghdad Today) that "administrative and financial corruption and the presence of thousands of aliens make the Kurdistan government fear the application ".of the MasterCard system
He added that "the application of the electronic system means the disclosure of these satellite numbers, as they follow the ruling parties, so the government maintains the salary system on manual distribution, which causes disasters and ".deaths for the elderly
And last Saturday, a member of the Kurdistan Regional Parliament, Muslim Abdullah, confirmed that the regional government can pay the salaries of .employees without the need for Baghdad Abdullah said in an interview with (Baghdad Today) that "the boom in international oil prices means a significant increase in the region's financial revenues, which ".exceeded the barrier of one billion and 200 million dollars He added, "The Kurdistan government can only sell oil to pay the employees' salaries in full, without the need for the 200 billion dinars that Baghdad sends monthly to ".help pay the employees' salaries . Half of the salaries of the region's employees
And at the end of last June, the spokesman for the Kurdistan Regional Government, Jutiar Adel, announced that the federal government had so . far only sent half of the salaries of the region's employees Adel said in a press conference, that "the federal government has only sent 13 times the amount allocated to a region so far, while it was supposed to send 26-month ". allocations
He added, "Our doors are open for dialogue with Baghdad and the solution of all ". problems He pointed out that "the Kurdistan government meeting today, it was emphasized the need for media institutions to deal properly with sensitive issues and not to be a ". cause of fear among citizens He continued, "The issue of job opportunities was raised by the Ministry of Labor, and Prime Minister Masrour Barzani recommended all ministries to provide job ".opportunities for young people on an equal basis
Expert: The current government is a caretaker and cannot send the budget to Parliament
Legal expert Raqiah Al-Khazali explained the possibility of passing the 2022 budget by Parliament in light of the presence of the caretaker government in power.
Al-Khazali said in a press statement, which was monitored by The Independent, that "the current government is a caretaker and cannot send a budget to Parliament for its legislation, because it does not have the legal right to raise bills, including the budget."
She added that "passing the budget is by going towards forming the new government, which in turn studies the budget and submits it to Parliament for a vote."
And she indicated that "the budget can be legislated during the era of the current government by voting by members of Parliament by a simple majority within the House of Representatives, and therefore these votes give the government the legal framework to raise the budget in order to vote on it."
A delegation of Iraqi businessmen visits Tehran at the end of July to discuss 3 files
Iraqi businessman Rahim Al-Obeidi confirmed on Thursday that a delegation of businessmen will visit the Iranian capital, Tehran, at the end of July to discuss 3 important files.
Al-Obaidi said in an interview with Al-Information that "there are great opportunities to develop trade and economic relations between Diyala and many Iranian cities, including Kermanshah, with the presence of two border crossings," stressing that "a delegation of businessmen will visit Tehran to discuss 3 files, most notably investment." reciprocal.”
Al-Obaidi added, "There is an Iranian desire to invest in several areas inside Iraq, including Diyala, especially in the housing and industry files," noting that "the interaction of businessmen is important in order to agree on a set of broad lines that contribute to creating the atmosphere for joint business."
He pointed out that "the stability of the security situation provided a great opportunity to revitalize the economic and commercial dimension between Diyala and Iran in particular, in light of the presence of border crossings."
Iranian goods and materials are flowing in abundance through two border crossings towards Diyala, which contribute to promoting economic and commercial activity.
Al-Party Alludes To Accepting Maliki's Candidacy For Prime Minister In This Case
The Kurdistan Democratic Party called, on Thursday, for the coordination framework to respect the party’s privacy and electoral gains to pass its candidate for the presidency of the republic, indicating that the nomination of Nuri al-Maliki to head the government came because of his possession of the majority in the framework and this is what the Democrat wants in the presidency.
The party's deputy, Mahma Khalil, said in a televised interview, which was followed by "The Information", that "Nuri al-Maliki's nomination to head the government came because he had the largest number of parliamentary seats in the coordination framework."
Khalil added, "As a democratic party, we seek to implement this standard with us, as we are the largest Kurdish bloc and we have our electoral right that qualifies our candidate for the presidency."
Regarding the competition for the position of President of the Republic, Khalil affirmed, “The position will be from the share of any candidate who obtains the votes of two members of the House of Representatives.”
Because of the difficult financial conditions that citizens are experiencing...deflation
Iraqi economists confirmed that the economic crises that hit the country made this holiday not like the previous ones due to the state of deflation and the lack of financial liquidity.
A number of them indicated that the Iraqi market these days leading up to Eid al-Adha suffers a noticeable stagnation due to the economic crisis, and the deterioration of the financial conditions of citizens with the absence of the state's financial budget for 2022.
They explained that the Iraqi markets and commercial centers witnessed in previous years a great momentum by citizens in shopping during The days leading up to Eid al-Adha are to buy clothes, prepare food for sweets and more.
Economic analyst Abdul Rahman Al-Dulaimi said that the economic and social conditions and the high cost of living, as a result of the high exchange rate of the dollar against the Iraqi dinar, contributed to a decrease in the purchasing power of many segments of society, in the face of a continuous stagnation in local markets since the beginning of the current year 2022.
Official figures of the Iraqi Ministry of Planning indicate , that the poverty rate in Iraq exceeded 22.5 percent.
A new phase of "comprehensive cooperation" between Washington, Baghdad and Erbil
The American senator confirms that Iraq is the most important strategic partner of the United States in the region
Last Monday and Tuesday, the fourth and fifth of July, an American delegation headed by US Senator Lindsey Graham visited the Iraqi capital, Baghdad , and the Kurdistan Region, where he met with the three Iraqi authorities and the regional government to discuss the new phase of security cooperation in the field of advice and capacity building of the Iraqi security forces. .
The interest of the Iraqi and American peoples
The Iraqi Prime Minister, Mustafa Al-Kazemi , after meeting Graham and his accompanying delegation, expressed his aspiration to strengthen bilateral relations and ways to develop them in the economic, cultural, and educational fields, in a manner that is in the interest of the Iraqi and American peoples. From security cooperation in the field of advice and capacity building for the Iraqi security forces after the end of the combat role of the American forces, as well as discussing the regional situation in general and the situation in Syria in particular, and what Iraq can contribute to achieving regional stability in light of its escalating role in this field.
The US senator stressed, according to the statement, "the unlimited commitment to providing long-term assistance to Iraq, and enabling it to achieve its security, economic, and social priorities, and made it clear that the United States aspires for Iraq to be a major player in the Middle East, based on its strong democracy and economic reforms as a supporting factor." for regional and international stability.
The main focus of the region's security
The President of the Republic of Iraq, Barham Salih, in turn, stressed that Iraq is a pivotal hub for the security and stability of the region. Emphasizing the importance of continuing work and coordination to combat terrorism and eradicate its roots in the whole region, and cooperate in confronting economic fluctuations, combating the scourge of financial and administrative corruption, and helping to recover Iraqi funds smuggled abroad, as well as cooperation in confronting the phenomenon of climate change and protecting the environment. Also, they discussed the latest regional and international developments of common interest.
According to the statement, President Saleh stressed, "the importance of easing regional tensions, defusing crises through dialogue and ending terrorist havens," pointing out "the importance of Iraq in the region as an essential hub for the security and stability of the entire region."
For his part, the US senator affirmed the US commitment to support the security and stability of Iraq, and to establish close relations in various fields, pointing to the importance of Iraq in the region and its active role in establishing security and stability.
Support the Iraqi forces
The Speaker of the House of Representatives, Muhammad al-Halbousi, also discussed, with the US Senator, “security cooperation and support for Iraqi forces in facing the challenges of terrorism, and the issue of displaced women and children and the humanitarian situation in al-Hol camp.” The meeting also discussed developments in the regional situation, and Iraq’s growing role in achieving security. and stability in the region, as well as a number of issues of common interest.
The situation of Iraq and the region
The President of the Kurdistan Region, Nechirvan Barzani and the US Senator also discussed the latest developments in Iraq and the region, and the media office of the President of the Region stated in a statement that "Barzani received Graham and an accompanying delegation that includes the US Ambassador to Iraq, Alina Romanowski, the commander of the international coalition forces, General John Brennan, and a number of diplomats and senior officers. During the meeting, they discussed the situation in Iraq, the political process in the country, the latest developments in the war on terrorism, Erbil-Baghdad relations, and dialogue to solve the problems between them, as well as the situation in Syria and the Kurdish file in it.
The statement added that "the two sides stressed the importance of maintaining security and stability in the region, and agreed in the opinion that the threat of terrorism and the re-emergence of ISIS is a real threat to the security and stability of Iraq and Syria, and it is necessary, to confront this danger, to maintain security and stability in the region, and all parties devote their efforts and endeavors In this context, he added, "The relations of Iraq and the Kurdistan region with neighboring countries and countries of the region, and the latest developments in the situation in the region, in general, and a set of issues of common concern, formed other axes of the meeting," and indicated that "Barzani expressed thanks and gratitude to the Kurdistan region." For US support and aid to Iraq and the region in the war against terrorism.” Barzani said that “the key to stability and solving Iraq’s problems is solving the problems of Erbil-Baghdad through dialogue and in accordance with the constitution.”
strategic partners
In addition, the American senator stressed that Iraq is the most important strategic partner of the United States in the region, and a statement of the American embassy in Baghdad stated, “Graham visited Iraq to meet with senior Iraqi government officials and discuss political, economic, humanitarian and security cooperation with the government of Iraq and the Kurdistan Regional Government,” the statement continued. In his meetings, Graham expressed his support for the US strategic priorities in Iraq: promoting stability and economic growth, strengthening democracy and governance, and ensuring security and sovereignty, and reconfirming, according to the statement,His country's commitment to Iraq as one of the most important strategic partners of the United States in the region, and highlighted the importance of strengthening democracy in Iraq, and reviewed the efforts of the United States to strengthen the relationship between the United States and Iraq under the Strategic Framework Agreement, including through humanitarian assistance, stabilization, economic cooperation and efforts Fighting corruption, protecting human rights, empowering women, and academic and cultural exchanges.
Iraq earns billions with a record
link there is a video report but it is in Arabic
With the continuation of the global economic crisis left by the Russian war on Ukraine, the share of oil with the insane rise in prices of Iraq's imports, the most this year, amounting to more than sixty billion dollars, with expectations that it will reach more than one hundred and fifty billion by the end of this year, figures that coincide with bad in Distribution of salaries and high unemployment rates.
Report - Naji Abu Louz #Iraq
Al-Kazemi is on an official visit to Mosul
Today, Thursday, a security source announced an upcoming visit of Prime .Minister Mustafa Al-Kazemi to the city of Mosul, Nineveh Governorate
The source told (Baghdad Today), "The Prime Minister's Protection Regiment arrived last night in the city of Mosul in preparation for an upcoming visit by Al-Kazemi ".today, Thursday
He added, "The visit comes to inaugurate a number of projects in Nineveh ".Governorate On March 20, 2022, Prime Minister Mustafa Al-Kazemi paid a visit to the city of Mosul, during which he held a series of meetings with security leaders and a tour of .the streets of the province, during which he met the citizens In his recent visit, Prime Minister Mustafa Al-Kazemi chaired a meeting that included the heads of service departments in Nineveh Governorate, which was attended by a .number of ministers and the governor of Nineveh
Al-Kazemi said, "During the meeting, Al-Kazemi was briefed on the service and health reality of local departments, as well as the most important obstacles and obstacles facing service work, in order to meet the needs of the province and rehabilitate its ." infrastructure
During the meeting, interest in all service aspects that affect the life of the citizen was emphasized, and the need for the reconstruction of Nineveh Governorate hotels and infrastructure was discussed. Because it was and will be an important tourist . destination in Iraq, according to the statement
Al-Kazemi said: "I am happy to be in Mosul, Al-Hadba, as it shakes off the dust of terrorism and ISIS, and crosses to the stage of reconstruction and construction," stressing that what is required today is cooperation and coordination; In order to . advance the province, and record a successful experience at the level of Iraq
The Prime Minister stressed - according to the statement - the importance of thoughtful planning for strategic projects in the governorate, and that they be comprehensive and meet the conditions; In order to be able to provide the best services to citizens, directed by listening to the citizen’s complaint and meeting his needs, which is the cornerstone of service work, and he directed the concerned ministries to overcome obstacles to the governorate’s projects, and provide all . assistance and facilities to them
Below here is the WOTS for the day "Word on the Street" report:
List of the Iraqi dinar exchange rate against the dollar on the Iraqi Stock Exchange for today, Thursday (July 7, 2022), according to specialists.
Baghdad - the stock exchange
148,400
--------
The price is in most Baghdad exchanges
147,750
148,750
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Basra - Bursa
148,500
--------
Erbil - Bursa
148,400
--------
Mosul - Bursa
148,400
--------
Samawa
148,500
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1431.1000 |  1490.1000 | 1458.5000 | 1458.5000 | 1458.5000 | 1.4000 | 06:08 |
| USD/VND | 23350.0000 | 23360.0000 | 23364.6100 | 23359.2700 | 23359.2700 | 3.6900 | 04:23 |
| USD/CNY | 6.7007 | 6.7027 | 6.7114 | 6.6977 | 6.7063 | -0.0060 | 05:21 |
| USD/KWD |  0.3070 | 0.3080 | 0.3071 | 0.3070 | 0.3071 | -0.0001 | 05:02 |
| GBP/USD | 1.2013 | 1.2014 | 1.2023 | 1.1908 | 1.1915 | 0.0098 | 05:21 |
| USD/IRR | 42100.0000 | 42600.0000 | 42378.5000 | 42358.6000 | 42378.5000 | 29.3000 | 11:44 |
| USD/IDR | 14991.0000 | 14995.0000 | 15015.0000 | 14956.0000 | 14995.0000 | -5.0000 | 05:20 |
Dollar continues dream run, little stands in way...
UPDATE: Oil from U.S. reserves sent overseas?
Copper Slide Signals Mounting Recession Concern...
Mysterious Georgia monument destroyed by explosive device...
Minister of Agriculture to the Serbian ambassador: The Iraqi market is open to all countries of the world
Minister of Agriculture, Muhammad Al-Khafaji, discussed today, Wednesday, with Serbian Ambassador Oros Balov, agricultural cooperation between the two countries.
Al-Khafaji stressed, according to a statement by the ministry, the strengthening of bilateral cooperation between Iraq and Serbia to serve the development and advancement of the agricultural sector, indicating the depth of bilateral relations between the two friendly countries and the desire to develop imports of agricultural products.
He added, "The Iraqi market is open to all countries of the world and has a large area to import Serbian materials, including Serbian apples."
Al-Khafaji indicated that an Iraqi ministerial delegation will visit Serbia to activate the memorandum of understanding and discuss its provisions in the field of agricultural research, marketing and development of plant crop production and modern mechanization, and in the field of manufacturing, manufacturing and food industries and methods of combating diseases, especially since Serbia is advanced agriculturally and technically.
During the meeting, they discussed cooperation in the field of technologies, localization of modern technology, attracting businessmen, and cooperation in the field of agricultural research and studies, as well as benefiting from the scientific and agricultural expertise owned by Serbia, including the transfer of similar experiences and legislation between the two countries in the field of land distribution and regulation.
Al-Khafaji invited Serbian specialists and experts to visit Iraq and hold workshops and seminars on land-related legislation to benefit from and transfer and localize these legislations that contribute to the development of the agricultural sector.
For his part, Balov expressed his country's desire to enhance joint cooperation that serves the development of agricultural and animal fields, stressing his country's readiness to enhance joint cooperation and supply fresh products to Iraq.
The Central Bank of Iraq: There are currently no sufficient justifications to change the exchange rate of the dollar against the dinar / expanded
The Central Bank of Iraq has settled the controversy over the parliamentary and societal demands to change and restore the currency exchange rate against the Iraqi dinar.
The Deputy Governor of the Central Bank, Ammar Khalaf, stated, in a statement to the National Iraqi News Agency ( NINA ), that "there is no justification for changing the exchange rate at the present time, and we, as a monetary authority, do not find that there is a sufficient justification to change the currency exchange rate for the time being," noting He pointed out that "the currency exchange rate has changed more than once since 2004 until now, due to monetary policy tools and economic conditions, whether to strengthen or reverse the value of the dinar."
He added, "The economic circumstance is the main ruler in the currency exchange rate, as there is no time limit planned for five years or less or more for changing the exchange rate, which is subject within monetary policy to the competence of the Central Bank exclusively."
He explained, "When the Central Bank sees that there is a necessity, the exchange rate is changed, but at the present time we do not find a necessity or justified need to modify the current exchange rate."
He continued, "The economic conditions determine the appropriate decision-making and in a manner appropriate to the time period," noting that "the monetary policy is characterized by flexibility, but in general it is not good for the exchange rate to be changed quickly because it confuses local markets and weakens the wheel of the economy."
And the government official considered, “It is incorrect for the central bank to change the exchange rate during a convergent time limit, as it will affect the movement of the markets and reduce investment and production,” noting that: “During the first quarter of 2021, we took steps to change the exchange rate when we found a quasi-economic stagnation. In business."
A new shock for the Iraqis... Parliamentary Finance: 2022 without a budget - Urgent
The Parliamentary Finance Committee expected, on Wednesday, that the current year’s budget will not be passed due to the end of the half-year, indicating that the . time is ideal to start discussing the 2023 budget
Member of the Parliamentary Committee, Ikhlas al-Dulaimi, said in an interview with (Baghdad Today) that "all indicators show Parliament's inability to pass the 2022 budget, most notably due to the passage of 6 months of the year, as well as the presence of a caretaker government and ".the approaching date of delivering the next year's budget according to the law
She added, "What is occupying Parliament at the moment is the formation of the government, and the duration of its formation may take three months, which means reaching October or second of this year, at which time it is possible for this government to prepare a draft budget for ".the next year, vote on it and send it to Parliament, and then
And she added, "All the data indicate the need to prepare for the next year's budget, which must arrive according to the Financial Management Law in October for the purpose of discussion by ".Parliament and passing
CBI Update: Just a note:
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