Iraq.. Expectations of the dollar spread to revale and return to the official price

• Time: 2024/03/02 21:06:39
• Read: 1,339 times

  

{Economic: Al-Furat News} The economist, Safwan Qusay, expected today, Saturday, the dollar difference in Iraq to recede and return to the official price after a series of financial and economic measures taken by the government of Mohammed Shia’ Al-Sudani.

Safwan said {Al-Furates News} that: “The mechanisms of the central bank previously did not know who is asking for dollars from the irregular market, and after legitimizing the financial transfer process, the demand for the dollar in the irregular market began to enter the electronic platform.”

“Gradually with the adjustment of border crossings and facilitating the task of demand, I think the difference will recede and return to the official price,” he added.

“The Central Bank is now investing in spreading financial inclusion and investment by Iraqi banks and deploying (POS) at the sector and private level,” Qusay said, stressing that “all government units are currently required to issue credit cards and that procurement committees buy from their economic units (POS).”

He explained, “Controlling the movement of the dinar and knowing where it comes from and where it moves will help in commercial regulation and enhances increasing the level of international investor confidence in financial procedures, as we have the file of money laundering and terrorist financing and currently with the expansion of the circle of financial inclusion, we will be able to where the dinar goes.”

He concluded by ruling, “The existence of 70 trillion Iraqi dinars outside the banking system, and when it enters this system, it will turn into a productive dinar, which is what the Sudanese government seeks to achieve.”

The Central Bank of Iraq, according to its sales table, determined the cash sale price (1305) dinars per dollar.

https://alforatnews.iq/news/العراق-توقعات-بإنحسار-فارق-الدولار-والعودة-الى-السعر-الرسمي

Iraq is developing a joint cooperation strategy.. Washington intends to remain in Baghdad despite the negotiations

Reports | 07:34 – 03/02/2024

Mawazine News – Baghdad
Despite the Iraqi government announcing the end of the first round of bilateral discussions to end the mission of foreign forces, the American envoy to the international coalition announced that there is no plan for an imminent withdrawal from the country.

The military spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, announced an agreement to formulate a timetable “for a studied and gradual reduction, leading to the end of the international coalition’s mission to fight ISIS in Iraq.”

Ian McCarry said, in an interview with Al-Hurra TV, that “there are no imminent plans for withdrawal,” noting that “Iraq is a founding country of the international coalition and plays a leadership role in it.”

The American official confirmed that “there are bilateral discussions with Iraq in order to establish a permanent framework for security cooperation between the two countries,” without referring to withdrawal.

Makari revealed that “there are ongoing discussions to convince Iraq of the necessity of continuing the coalition,” adding that “in general, there is a common vision between the two parties regarding the necessity of continuing the campaign against ISIS.”

Makari stressed that “the coalition forces provide technical cooperation with the Iraqis and the role of the coalition in Iraq is a supportive one,” noting that “the Iraqi forces have very advanced capabilities in fighting the organization’s elements.”

Regarding the presence of ISIS in the Middle East and the Iranian role, he said that the coalition forces would defend themselves if they were attacked by Tehran’s agents, and accused them of playing “a very negative role in the region.”

With the decline of the ISIS threat, mutual attacks between the armed factions allied with Iran and the American forces stationed increased, before the existing truce, even with the Nujaba Movement announcing that it was in a state of “repositioning.”

Last week, the Supreme Iraqi Military Committee resumed its meetings with the international coalition forces in Baghdad with the aim of “assessing the military situation, the level of danger, the operational environment, and the capabilities of the Iraqi armed forces.”

Although the Iraqi Prime Minister was informing the Western officials he met during the past two months that his country was seeking to end the presence of the international coalition, Washington spoke at the same time of a “permanent bilateral security partnership.”

There are about 2,500 American soldiers in Iraq, while about 900 American soldiers are deployed in Syria, within the framework of the international coalition launched by Washington in 2014.

https://www.mawazin.net/Details.aspx?jimare=243098

Al-Dulaimi: If America had not intervened, the liberated cities would have remained occupied until now

Political | 06:20 – 03/02/2024

Mawazine News – Baghdad 
The representative of the Kurdistan Democratic Party, Ikhlas Al-Dulaimi, today, Saturday, praised the efforts of the international coalition led by the United States of America during its support of the security forces during their operations against the terrorist organization ISIS.
Al-Dulaimi stated in a statement received by Mawazine News that “the terrorist organization ISIS was defeated by the efforts of the international coalition and the participation of the Iraqi security forces.”
She added, “If it were not for the international coalition’s air strikes, the equipment and arming, and the drawing up of plans, the criminal ISIS organization would still be in control of a number of governorates.”

https://www.mawazin.net/Details.aspx?jimare=243092

The Iraqi Central Bank confirms to Shafaq News the provision of five foreign currencies as an alternative to the dollar for merchants

EconomyBreakingDollarCentral Bank Of IraqForeign Currency

2024-03-02 08:54ShareFont

Shafaq News/ The Central Bank of Iraq confirmed, on Saturday, that it has provided five alternative currencies to the dollar, for merchants to use in purchasing their goods from other countries using each country’s currency through the bank.

Deputy Governor of the Central Bank, Ammar Hamad, told Shafaq News Agency, “The Central Bank provided other foreign currencies to Iraqi merchants, which are (the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee).

He added, “These currencies have become available to merchants for the purpose of financing foreign trade. When a merchant imports goods from China, he can now pay the Iraqi dinar to the Iraqi bank, and through the bank, the amount will be paid to the Chinese company and factory in the Chinese currency.”

Last week, the Central Bank of Iraq’s total sales of hard currency in US dollars amounted to more than one billion dollars.

Shafaq News Agency correspondent stated that the Central Bank sold during the past week, and for a period of five days during which the auction was opened, one billion and 52 million and 796 thousand and 86 dollars, at a daily rate of 210 million and 559 million and 217 dollars, lower than what it recorded the previous week, when it amounted to one billion and 62. One million 587 thousand and 198 dollars.

https://shafaq.com/ar/%D8%A7%D9%82%D8%AA%D8%B5%D9%80%D8%A7%D8%AF/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%8A-%D9%83%D8%AF-%D9%84%D8%B4%D9%81%D9%82-%D9%86%D9%8A%D9%88%D8%B2-%D8%AA%D9%88%D9%81%D9%8A%D8%B1-%D8%AE%D9%85%D8%B3-%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D8%A8%D8%AF%D9%8A%D9%84%D8%A9-%D8%B9%D9%86-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%84%D8%AA%D8%AC-%D8%A7%D8%B1

Economist: Electronic payment will reduce demand for foreign currency in Iraq

Economy| 11:30 – 02/03/2024

Mawazine News – Baghdad
The economist Khaled Al-Shammari stressed that electronic payment will increase investment opportunities by depositing money in banks, while he pointed out that the ATM card increased to one million cards during this year.
“The process of switching to electronic payment reduces the cash payment of the currency, thus reducing the demand for the foreign currency and increasing confidence in the local currency,” Al-Shammari said in a televised interview.
He added, “Only about 15% of Iraqi cash is deposited in banks,” noting that “the increase in bank deposits is used for investment purposes instead of disappearing them in the citizen.”
Al-Shammari called for “the need to put the benefits to the bank deposit process for the purpose of encouraging citizens,” pointing out that “citizens are afraid of hacking and forgery in electronic cards, so it must be directed to add security elements such as the adoption of an eye fingerprint.”
He pointed out that “the ATM card increased to one million cards during this year, and this indicates the high rates of application of the electronic payment system.”

https://www.mawazin.net/Details.aspx?jimare=243060

US envoy reveals talks to convince Iraq ‘need to continue international coalition’

PoliticsIraqThe International Alliance

2024-03-02 00:19Font

Shafaq News / The US envoy to the international coalition to fight ISIS, Ian McCary, confirmed that there is currently no plan to withdraw troops from Iraq.

He said in an interview with Al-Hurra channel, that Iraq is a founding state of the international coalition and plays a leading role in it, stressing that the coalition benefits from the Iraqi experience in targeting the organization.

Makary stressed that there are bilateral talks with Iraq in order to establish a permanent framework for security cooperation between the two countries.

The US official revealed that “there are ongoing talks to convince Iraq of the need to continue the coalition,” adding that “in general, there is a common vision between the two parties for the need to continue the campaign against ISIS.”

Makary stressed that coalition forces provide technical cooperation with Iraqis and the role of the coalition in Iraq is a supportive role, stressing that “Iraqi forces have very advanced capabilities in fighting the organization’s elements.”

On the presence of ISIS elements in the Middle East and the Iranian role, he said that the coalition forces will defend themselves in the event of attacks from Tehran’s proxies, and accused Iran of playing a very negative role in the region.

As for Syria, Makary explained that there is no cooperation with the Syrian regime and there are no diplomatic contacts with it, stressing that “there are still elements of ISIS in Syria and we are working to confront them.”

On Thursday, the spokesman for the Commander-in-Chief of the Iraqi Armed Forces, Yahya Rasool, announced that the minutes of the meetings of the Supreme Military Committee have been lifted to complete the plan to end the tasks of the international coalition in the country.

There are about 2,500 American troops in Iraq, while about 900 American soldiers are deployed in Syria, within the framework of the international coalition launched by Washington in 2014.

https://www.shafaq.com/ar/سیاسة/مبعوث-مريكي-يكشف-عن-مباحثات-ل-قناع-العراق-ضرورة-استمرار-التحالف-الدولي

President of the Republic: Iraq has doubled its oil production to 4.7 million barrels over the past 10 years

PoliticsIraqOilPresident Of The Iraqi Republic

2024-03-02 05:59Font

Shafaq News / President Abdul Latif Jamal Rashid said on Saturday that the Iraqi Ministry of Oil has increased crude production to 4.7 million barrels over the past 10 years.

“It has become clear that the world needs the stability of the energy sector and confidence in this stability, just as it needs the energy itself,” Racheid said in a speech during the 7th Summit of Heads of State and Government of the Forum of Gas Exporting Countries – Algeria.

He added that “global efforts are still focused on balancing energy security with reducing emissions, and energy shortages are no less harmful than the effects of warming on human beings, there are nearly a billion people in the world who lack access to energy sources.”

Rashid also pointed out that “despite all the challenges, the Ministry of Oil in Iraq has doubled its production to (4.7) million barrels during the past ten years, with Iraq alone occupying its contribution in one fifth of the global increase in production.”

He added, “We have launched the projects complementary to the fifth round and the projects of the sixth round, which are mostly promising gas fields,” stressing the approval of the Council of Ministers of the recommendations to establish the liquefied gas platform in the large port of Faw, which is the first of its kind in the country in order to enhance energy security and diversify its sources.

The President of the Republic continued, “We are also making deliberate steps to exploit gas, and before the end of 2023 a gas project was operated,” noting that “this year the ministry is currently making great efforts to launch more than one gas project in multiple regions of Iraq.”

https://www.shafaq.com/ar/سیاسة/ر-يس-الجمهورية-ضاعف-العراق-انتاجه-من-النفط

Nechirvan Barzani adviser reveals developments of resumption of region’s oil export and date of Erdogan’s visit to Iraq

Kurdistan WomenErbilBaghdadBreakingOil ExportsAppealErdogan’s Visit

2024-03-02 06:43Font

Shafaq News / Rahne Falah Mustafa, senior adviser to the President of the Kurdistan Region, on Saturday, the issue of resuming the region’s oil exports with Erbil and Baghdad reaching a final agreement in this regard, expecting that Turkish President Recep Tayyip Erdogan will visit Iraq after the local elections are held in his country.

“With regard to the resumption of oil exports of the Kurdistan Region again through the port of Ceyhan, the Republic of Turkey is ready for this,” Mustafa said at a press conference held today in Antalya.

But this issue is more about Baghdad, he said, stressing that “once Erbil and Baghdad reach a final agreement, the export process of Kurdistan oil will start again.”

Regarding the expected visit of the President of the Republic of Turkey to Iraq, Mustafa said that President Erdogan is scheduled to visit Baghdad as well as Erbil after the Turkish municipal elections, saying that: This visit will be a factor to strengthen bilateral relations with Iraq in general and the Kurdistan region in particular.

https://www.shafaq.com/ar/كوردســتانيات/مستشار-نيجيرفان-بارزاني-يكشف-تطورات-است-ناف-تصدير-نفط-ال-قليم-وموعد-زيارة-ردوغان-للعراق

The central bank announces the increase in the size of its reserves to more than $100 billion. What does oil have to do with

Localities

   

---

Economy News – Baghdad

The central bank attributed the increase in Iraqi reserves of the dollar to the stability of oil export imports, which it said reflected on the financing of external trade activity and support for the dinar.

The deputy governor of the bank, Imad Hamad Khalaf, said in press statements followed by “Economy News”, that the Central Bank of Iraq recorded an increase in its reserves of more than $100 billion currently.

Khalaf added that “the stability of Iraqi oil export imports contributed to an increase in monetary reserves and was also reflected in the financing of external trade activity and support for the dinar.”

---

78 views

Added 2024/03/02 – 9:26 AM

https://economy-news.net/content.php?id=41020