Collecting more than 100 signatures.. A parliamentary move to reduce the dollar exchange rate

Today, Thursday, Representative Uday Awad announced that he has collected the signatures of more than 100 deputies to reduce the exchange rate of the dollar against the Iraqi dinar.

Awad stated, according to a document, that “according to Article (61-Seventh-C) of the Iraqi constitution and Article (56) of the internal system, please include the issue of reducing the price of the dollar in the earliest possible session and according to constitutional contexts, and because of the economic repercussions taking place in the country and the collapse of the currency and its impact on the Iraqi citizen “.

Burathanews.com

BGG ~ With all they have going on right now, am I the only one that finds this article a little strange?

IMHO – the whole world is in a hurry to get off the USD. We have triggered our own hyperinflation (thereby HAMMERING our own currency) and NO ONE wants any part of it. Not even Iraq.

Iraq may well be the one currency in the UNIVERSE with the actual assets to be a true non-Fiat currency and is still referred to as “grossly undervalued”.

When looking for a hedge – it’s ANYTHING but green money.

We have Dinar – best rates!!

Price: $1050 per mil (plus S/H while supplies last).

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www.TheDinarExchange.com

Economist: Central Bank policy contributed to achieving monetary stability

Alsumaria news/Baghdad: The observer for economic affairs, Hassan Al-Hajj, confirmed today, Wednesday, that the policy of the Central Bank and the plans that it has set in the past months have directly contributed to achieving monetary stability and raising the level of Iraq’s strategic reserve of hard currency, in addition to the flexibility of the plans in place in line with the challenges. economic locally and globally.

Al-Hajj said in an interview with Alsumaria News, “The Central Bank’s procedures in dealing with the global economic crisis were very clear in a positive and professional manner, unlike what happened in many countries of the world, where we saw a significant increase in the bank’s hard currency reserves from 50 to 76 billion dollars. It will reach $90 billion before the end of this year, which has a positive impact on the stability of the currency price in the market and the inability of traders to manipulate it.”

He added, “The Central Bank adopts flexible policies and plans that are consistent with all the variables of the economic situation in the local and global market, and they are in remarkable progress, especially with regard to the issue of containing cases of corruption or currency smuggling that occurred in previous periods through the currency sale auction, where we saw a clear decline in These violations are a result of the new controls set by the Central Bank to contain these negative cases during the past six months, and we hope that they will end in the complete bomb phase.”

The economic expert explained, “The raising of the exchange value of the dinar against the dollar, which had some negative repercussions on the citizen, but in the end was positive to supplement the state’s reserves of currency to face crises, but in general it needs more powerful government measures to support the fragile and middle classes, which can actually be achieved in If the government draws up a coordinated policy and joint cooperation with the Central Bank in this file.”

He continued, “The policy of the Central Bank is in great improvement, and we expect that new measures will be taken by it in the coming months to ensure that the reserve level is maintained and developed to be a strategic reserve for the Iraqi state and in line with the rise in oil prices globally, and they are all positive indicators that ultimately serve the interest of the state treasury.”

Alsumaria.tv

Legislation of the oil and gas law now will cut the road to the region

The backbone and cornerstone of the region’s authority is oil and the money obtained from allegiance outside the authority of the federal government, and thus made them an empire that was able to buy the votes and consciences of many local and international politicians. Therefore, the best way to return the region to Iraq is to control the oil in the region and the opportunity is now very favorable after The latest Federal Court decision.

All indicators now show us that the region’s authority is now living in its most difficult political situation because it is living its last days in extending its influence over oil, and its recent attempts to file a lawsuit against the Minister of Oil or to try to establish oil companies corresponding to the federal companies are miserable attempts that do not benefit it from implementing the Federal Court’s decision It is also classified only as “attempts to buy time” and is betting on the weakness of the leaders from the center and the south to give up their right in return for the Kurds to vote for them.

The second matter pressing on the authority of the region is political, not judicial, technical as the first, which is the fragmentation of the tripartite political alliance, which lost the region its influence and power in Parliament and thus its voice and influence in decision-making.

In all the political statements made by the Minister of Natural Resources of the region or other leaders of the region, they mention that the federal government is constitutionally negligent in not legislating the federal oil and gas law recommended by the constitution in Article (112 – first) and therefore the federal oil and gas law must be legislated for the following reasons :

1 – The best response to the authority of the region and cutting the excuses against them

2 – Doing justice to the oppressed people of the center and the south by letting the oil exported from their land go to others.

3 – It helps the people of the region by distributing oil imports to them, as is the case with the people of the center and the south, and ensuring that their salaries are not interrupted.

4 – Reducing the inflation of some members of the authority in the region, which now feels larger than Iraq.

5 – Inflating the general revenues included in the federal general budget, which are estimated annually at more than ten billion dollars annually, in addition to the resources of border crossings, as well as the funds that it takes from the federal government.

The conclusion is that the latter’s movements fall under the pretext of indifference only, but the matter and the circumstances are taking place contrary to their current, and the local or international judicial decisions will inevitably come with what the Kurdish politicians do not desire.

They are prejudiced. The days of forming the government come, and therefore the Shiite leaders need the votes of the Kurds in forming the government, and therefore they use the oil card in negotiating, but now the issue is very different and that the second party is in its strongest condition and does not need the voice of the regional authority and therefore, as I said, they are in great weakness and therefore the circumstance must be exploited in Legislation of the oil and gas law to ensure the right of the center and the south.

Non14.net

Iraqi Finance Minister: If we make the right decisions, we will be the global energy center for the coming centuries

Shafaq News / The Iraqi Minister of Finance, Ali Allawi, called on Saturday to invest Iraqi capital to maintain the current oil production rates, stressing the need to focus on raising the rates of electric power production, suggesting that the country would turn into a source of energy.

Allawi said at the Energy Forum held at the American University in Baghdad; It is “Iraq must divert capital investments to maintain current oil production rates while shifting focus to electricity production where demand is expected to grow. We have a great opportunity to restore Iraq as a major supplier of electricity.”

Allawi added; “Iraq today needs to make strategic decisions based on where it wants to be. 20 years from now, Qatar made huge investments in gas production in the 1990s. It was one of the greatest strategic decisions that were taken and they are now reaping its fruits.”

The Iraqi Finance Minister stressed that “if we make the right choices, the right partners, and the right strategic direction, I believe that this country can easily be the global center for energy trade for the twenty-first century and beyond.”

On Saturday, the American University in the Iraqi capital, Baghdad, hosted the Sixth Energy Forum, with the participation of OPEC Secretary-General Muhammad Barkindo.

The conference was also attended by the Iraqi Minister of Finance, Abdul Amir Allawi, and a group of ministers and officials of the Iraqi government.

Shafaq.com

Al-Kazemi’s renewal is a compromise to end the government knot in Iraq

The hosting of the leaders of the coordination framework of the Iraqi Prime Minister, Mustafa Al-Kazemi, for the first time in their meetings, sparked a political debate in Iraq, amid questions about whether the step had anything to do with the support of some forces within the framework to renew Al-Kazemi’s mandate.

Al-Kazemi attended a meeting of the framework leaders Thursday at the home of the head of the Popular Mobilization Authority, Faleh Al-Fayyad, and the meeting included the leader of the Al-Fateh Alliance Hadi Al-Amiri, the head of the State of Law coalition, Nuri Al-Maliki, and the leader of Asa’ib Ahl Al-Haq, Qais Al-Khazali.

A statement distributed by the framework indicated that hosting the Prime Minister was related to discussing security challenges and the Turkish incursion into northern Iraq, and the statement distinguished between the second part of the meeting, which was devoted to discussing the file of forming the government after the Sadrist bloc’s resignation from Parliament, and pointed out that the meeting took place without Al-Kazemi’s presence. , but political circles see that hosting has other dimensions, especially since there are leaders of the framework who see that the renewal of Al-Kazemi may constitute a compromise to end the government formation complex.

Al-Sadr, despite his withdrawal from the political process, remains influential in the scene, and is able to play more than one card, including the street

Some leaders of the coordination framework, including Al-Amiri, are cautiously dealing with the current developments on the political scene in Iraq, especially in relation to the resignation of the Sadrist movement’s representatives from Parliament, and the decision of the movement’s leader Muqtada Al-Sadr to boycott the entire political process.

These leaders believe that it is better to go in the option of discussing the formation of a non-provocative government, to the street or to Sadr, who, despite his adherence to the boycott, but remains influential in the scene, and is able to play on more than one card, including moving the street, considering that the renewal of Al-Kazemi may be the best option.

On the other hand, other leaders, led by Al-Maliki and Khazali, find in Al-Sadr’s withdrawal a valuable opportunity to pounce on the political process and impose absolute control over its details, and therefore they strongly reject Al-Kazemi’s choice, which they consider to be outside their orbit.

Observers say that Maliki, who has become the largest number of Shiite representatives after the withdrawal of the Sadrist movement, sees himself as the first qualification for the position of prime minister, which he previously held twice, and the result was tragic for Iraq.

Observers point out that al-Maliki’s assignment, if it were done, would not pass easily, as al-Sadr will not accept the boycotts of the political process to have his political opponent again at the head of the government, and this may lead the country to a dangerous turn, especially since al-Sadr has hundreds of thousands of followers who are ready to take to the street.

Observers consider that a government led by al-Maliki or any provocative political figure for al-Sadr will not last long, and is doomed to fall, recalling the scenario of the collapse of Adel Abdul-Mahdi’s government.

Abdul-Mahdi’s government was forced to resign at the end of 2019, in the face of unprecedented protests in Iraq, in which the Sadrist movement participated before withdrawing from it.

Observers say that this matter prompts a number of the framework leaders to propose keeping Al-Kazemi, who, despite the differences with him about his government orientations, especially in relation to foreign policies, but succeeded to some extent in controlling the pace of the situation in Iraq, in addition to being supported by Al-Sadr who had previously And expressed a desire to renew it.

The coordination framework announced on Thursday evening the formation of a negotiating committee for dialogue with the national forces to form the next government.

Al-Sadr does it and boycotts the entire political process
At the conclusion of the meeting, in which Al-Kazemi attended the first part, the framework forces confirmed that they had discussed political issues and the ongoing dialogues between the national forces, in order to complete the preparations related to the constitutional entitlements and the formation of a government of national unity.

Al-Maliki stated, “We extend our hands to everyone in cooperation with the Islamic and patriotic forces, whether they are inside or outside Parliament, as long as the goals and challenges do not separate us.”

He said in a tweet to him on his personal account on the social networking site Twitter, “We are keen to search for points of convergence, cooperation and integration, not intersection and disharmony, and we should not be separated by differences that are simple and not strategic.”

The Shiite leader Muqtada al-Sadr confirmed Wednesday the withdrawal of the Sadrist bloc’s deputies from parliament and the political process, which opened the doors for the forces of the Shiite coordination framework to lead the negotiations to form the new government, as it is the most numerous bloc in the Iraqi parliament, after the majority of the Sadrist bloc’s vacant seats in the Iraqi parliament came to it. .

The coordinating framework forces say that they wish to form a consensus government similar to all the governments that were formed in Iraq after 2003, which means the participation of all political forces in forming the new government, while the positions of the independent representatives are not yet clear, especially after the withdrawal of the Sadrist bloc that was calling for the formation of the new government. National majority government.

Observers believe that the most important position is the one that will be issued by the two allies of Al-Sadr, the Kurdistan Democratic Party and the Sunni Sovereignty Coalition, and whether they are willing to engage with the framework in efforts to implement the rest of the entitlements.

The leader of the Sovereignty Coalition, Parliament Speaker Muhammad al-Halbousi, had expressed optimism about the possibility of an end to the political blockage, the day after he accepted the resignation of al-Sadr’s deputies.

Al-Halbousi stated, “After the resignation of the Sadrist bloc, things will go in a different way,” noting that “the constitutional procedures will proceed if the number of members of the House of Representatives is completed, the vacant seats are compensated, and the political blockage is removed.”

Regarding the dissolution of Parliament and the early elections, Al-Halbousi pointed out that “this option is a constitutional option, and the previous elections were early and took place with the dissolution of Parliament, but so far this option has not been raised.” and its performance, and its evaluation shall be before the people.”

Rawabetcenter.com

The leader of the National Union, Ghiath Al-Sorji: Forming the government will take only days

The leader of the National Union, Ghiath al-Sorji, confirmed that the withdrawal of the Sadrist movement from the House of Representatives will not affect the political process, and between the presence of a close breakthrough between the Kurdish parties to proceed with the coordination framework to form the government, it is likely that the formation of the government will take only days.

Al-Sorji said in a press interview, “After the resignation of the Sadrist bloc’s deputies, the National Union Party will go with the Kurdistan Democratic Party to agree on the personality of the President of the Republic and then go to the coordination framework,” explaining, “there are intense meetings between the two parties to solve all outstanding problems between them.”

He added, “The Sadrist movement’s exit from the political process is normal,” noting that the movement will not resort to inflaming the street because the responsibility for security and political stability rests with everyone, and the movement knows that.

And he indicated, “The coordination framework will become the largest bloc after the resignation of the Sadrist bloc’s deputies and the parliament’s resort to the substitutes after the end of the legislative term holiday, and therefore the formation of the government will take only a few days.”

Burathanews.com

Officially.. the Speaker of Parliament terminates the membership of the Sadrist bloc members

On Sunday, Parliament Speaker Muhammad al-Halbousi issued parliamentary orders to terminate the membership of the Sadrist bloc members based on submitting their collective resignations to the parliament’s presidency, according to documents issued by the parliament.

On Sunday, the Strategic Center for Human Rights announced that the House of Representatives had received the names of the replacements for the Sadrist bloc’s resigned representatives.

The leader of the National Union, Ghiath al-Sorji, confirmed, on Saturday, that the withdrawal of the Sadrist movement from the House of Representatives will not affect the political process, and between the presence of a close breakthrough between the Kurdish parties to proceed with the coordination framework to form the government, it is likely that the formation of the government will take only days.

Burathanews.com

“The Blockage Has Come To An End” .. Victory: The Framework Will Be A Strong Bloc Within Parliament

Information / special… A member of the Victory Coalition, Aqeel Al-Rudaini, confirmed today, Saturday, that the coordination framework will be a strong bloc within the parliament after changing the course of the political process, while indicating that the resignation of the Sadrist bloc will result in a new political stage and a gesture to form the government.

Al-Rudaini said in an interview with the Information Agency, that “the coordinating framework, with the presence of the forces close to it, such as the Patriotic Union of Kurdistan and the Sunni Azm Alliance, in addition to a large part of the independent representatives, will be the strongest bloc within the political process and the parliament’s dome.”

He added, “In the event that the resignation of the Sadrist bloc’s deputies is accepted and things go smoothly, the largest bloc will be formed and vote on the presidency with the agreement of the political blocs, in addition to choosing the prime minister from the Shiite component exclusively.”

A member of the Victory Coalition explained that “the stage of political blockage has reached its inevitable end, and there will be a new stage after what happened from the Sadrist movement’s representatives and their collective resignations to Parliament.”

The leader of the State of Law coalition, MP Muhammad Chihod, had confirmed, today, Saturday, that the next government will be a service government with the participation of political forces and according to its electoral entitlement, noting that the framework and other political forces are engaged in continuous dialogues to expedite the formation of the government after the legislative recess of the House of Representatives. 25 riyals

Almaalomah.me

An Economist Identifies 3 Repercussions Of Raising The US Interest Rate On Iraq

Information / Baghdad…  Economist Nabil Al-Marsoumi identified the repercussions of the US Federal Reserve’s decision to raise interest rates, warning that Iraq could be affected by the decision regarding the prices of imported goods.

Al-Marsoumi said in a Facebook post that was seen by / the information / that “the US Federal Reserve raised interest rates, by 75 basis points, to a range between 1.50% and 1.75%, in order to return inflation to its target of 2% after it reached last May. to 8.6%, which is the highest in 40 years.

He warned that “the harshest impact will be on Iraq and other developing countries, because the rise in US interests raises the exchange rate of the dollar against most of its currencies, and thus contributes to inflation and the cost of debt financing as much as it is borrowed in dollars. The annual basis is based on the market or (moving) interest in dollars, which the financial markets indicate to rise, such as the interest (Libor), which is the interest of lending and borrowing between banks in dollars in the London market, and even if some loans carry a fixed interest on the loan itself, but they carry a hedging risk margin around the fixed interest. .

He added, “All Iraqi exports are denominated in dollars, and most imports are either in dollars or with a country that manages its currencies fixed against the dollar, or close to stabilization, and therefore the rise of the dollar may benefit the parties that deal with it, including Iraq.”

He cautioned that “Iraq’s investment in dollar-denominated deposits or US bonds will lead to higher returns in the future, with higher US interest rates.” finished/25h

almaalomah.me