American attempts and Iraqi solutions… The dollar is between high and low, and government measures

Information / Baghdad… It became clear to everyone the impact of US banking policies towards Iraq, especially the banking sector, in an attempt to cause confusion in the movement of the commercial market and push the government into direct confrontation with the people, after the rise in most prices, although the government was able to take a decision to reduce the exchange rate after it crossed the barrier of 175 thousand dinars for every 100 dollars.

In turn, the Sudanese government drew up a new financial policy, setting the official exchange rate at 130,000 dinars for every $100.

Despite this, however, the US measures were behind the continued rise in the exchange rate in terms of restricting Iraqi banks’ access to hard currency under the pretext of smuggling, speculation and the black market.

The representative of the Sadiqoun bloc, Muhammad al-Baldawi, told Al-Maalouma that “America is taking retaliatory measures against Iraq after its move towards resolving the electricity crisis, bartering oil with Iranian gas, and getting out of the dollar’s impasse.”

He added, “Washington seeks to impose its opinion and be dominant over decisions in Iraq, as it took retaliatory measures that caused a rise in the exchange rate of the dollar in the local markets, thus increasing the prices of goods, commodities, foodstuffs, and causing harm to the citizen.”

Al-Baldawi pointed out that “the American side seeks, through its measures, to be in control of Iraq and take whatever decisions it wants, and unlike it, it resorts to using some pressure tricks to achieve its interests and harm Iraq and its people.”

On the other hand, a member of the Al-Fateh Alliance, Ali Al-Zubaidi told Al-Maalouma, that “Washington lacks a lot of credibility in the treaties and covenants that are agreed upon, as there is no fairness in continuing to deposit the country’s money in the US Federal Bank.”

He explained, “Iraq will end the dollar crisis if it gets rid of the hegemony imposed by the United States of America on the money for selling oil, especially since Washington imposes Chapter VII restrictions on Iraq verbally in order to achieve its own interests.”

On the other hand, the economist, Safwan Qusai, confirmed to Al-Maalouma, that “the money changers in Iraq receive an appropriate commission when buying and selling dollars, which requires them to adhere to their commission, at a time when there must be a financial policy that is complementary to the central bank in its policy related to selling dollar in the parallel market.

He added, “There is an urgent need to control border crossings, as well as reduce the volume of imports without the presence of external money transfers, in addition to pushing banks towards a flexible banking system and relying on documentary credits, so that all merchants are allowed to deal with reliable suppliers.”

Almaalomah.me

Al-Fateh: The Iraqi delegation delivered important messages to Washington regarding their fate in Iraq

Information / Baghdad… On Sunday, the leader of the Al-Fateh Alliance, Hamid al-Musawi, confirmed the success of the Iraqi delegation in delivering important messages during its visit to Washington, noting that the delegation informed the American side of the need to leave Iraq.

Al-Musawi said in a statement to Al-Maalouma, “All political forces and resistance factions support the sovereignty of Iraq and demand the government to end the expulsion of any foreign forces from Iraq.”

He added, “The Iraqi delegation informed America that Iraq is still adhering to the demand for the removal of every military soldier.”

He pointed out that “America turned to the decision to end its military presence in Iraq, and it insists on the protection of advisers and experts by the international coalition at a time when the Iraqi government opposes those decisions.”

The former military advisor, Safaa Al-Aasam, revealed, in a statement to Al-Maalouma, that the Iraqi delegation refused to open any dialogue with Washington regarding requests to dissolve the popular crowd, indicating that the delegation paved the way for an important visit of Prime Minister Muhammad Shia Al-Sudani to America.

Almaalomah.me

Al-Sudani stresses the need for the continuation of the dialogue between Iraq and America

Shafaq News / The Prime Minister, Muhammad Shia’a Al-Sudani stressed, on Sunday, the need for continued dialogue between Iraq and the United States to organize the relationship, especially in the security and military field.

Al-Sudani’s media office stated, in a statement received by Shafaq News Agency, that the latter received the US Ambassador to Iraq, Alina Romanowski, and during the meeting, they discussed the overall Iraqi-American relations, and ways to enhance joint cooperation in the economic and development fields, in light of the strategic framework agreement. In a way that benefits the interests of the two friendly countries.

He indicated that Iraq will continue to implement its reform programs at various levels, and work to build fruitful partnerships with friendly and brotherly countries.

He stressed the need for continued dialogue between Iraq and the United States to regulate the relationship in the post-victory stage over the terrorist organization ISIS, and in light of the development of the capabilities of the Iraqi security forces.

For her part, the US ambassador expressed the US government’s keenness to continue cooperation and develop common interests with Iraq. She also praised the last round of strategic dialogue between Iraq and the United States in Washington, D.C., stressing her country’s readiness to continue constructive dialogue.

Shafaq.com

An Arab currency stronger than the US dollar… “Forbes” monitors the 10 weakest monetary currencies in the world

Shafaq News / The American “Forbes” magazine discussed the 10 weakest currencies in the world, of which the Iranian riyal is the weakest, as well as the Lebanese pound, at a time when the Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.

The American report, translated by Shafaq News Agency, pointed out that the US dollar is seen as the strongest currency in the world and is the most traded, at a certain level, but it is actually not the strongest currency, but rather the Kuwaiti dinar.

Currency pricing

The report reviewed how foreign currencies are priced, explaining that foreign currencies are traded in pairs, for example, the purchase price of the US dollar is using the pound sterling, and as a result, the currency is always priced in relation to another currency, which is known as the “exchange rate”.

The report indicated that most currencies are “floating”, which means that their value fluctuates according to supply and demand, but some currencies are “pegged”, which means that their value relative to another currency (such as the US dollar) is fixed at an agreed upon price.

The report pointed out that exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound sterling rose against the dollar, vacation expenses in the United States would be less expensive in terms of the pound sterling.

He added that exchange rate movements provide an opportunity for investors seeking to make profits through trading foreign currencies.

Then the report reviewed the ten most vulnerable currencies in the year, according to an assessment based on the number of foreign currency units that are obtained for one US dollar.

Iranian Riyal

The report considered that the Iranian riyal as the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).

He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.

He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.

Despite Iran’s leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.

Vietnamese Dong

The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978.

He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.

Laotian Cape

The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.

Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency.

Sierra Leone

As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.

He added that Sierra Leone’s main exports include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.

Indonesian Rupiah

The Indonesian rupiah is the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to free float.

The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.

Lebanese Pound

According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.

He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.

He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.

Som Uzbekistan

The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.

Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.

Guinea Franc

As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating.

Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.

Paraguayan Guaraní

And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.

Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.

Ugandan Shilling

The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.

Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.

Shafaq.com

The oil and gas law takes center stage amidst assurances that the problems of Baghdad and Erbil will not be solved

Information / Baghdad… The former member of the Parliamentary Oil and Energy Committee, Ghaleb Muhammad Ali, confirmed, on Tuesday, that the oil and gas law will not solve the existing problems between Baghdad and Erbil over the oil file, pointing out that the Kurdistan government seeks to make the region’s oil powers in its hands at a time when there is a decision by the Federal Court that obliges the government control of this file.

Ali told Al-Maalouma, “The oil and gas law will enter into mazes and many problems will arise around it if it is a political and technical law. As for the technical aspects, it will not affect oil dealings, whether with the region or other provinces.”

He added, “There is a decision by the Federal Court stipulating that the federal government control the oil file inside and outside the region, and obligated the government to have the oil management fully under the control of the Ministry of Oil and SOMO, and therefore the oil and gas law should not contradict the court’s decision.”

He pointed out, Ali, that “the oil and gas law will not solve the problem between the center and the region, as Kurdistan seeks to have all the powers of the region’s oil in its hands, while the center insists that the powers be under its authority.”

Almaalomah.me

Starting from tomorrow.. A deputy confirms the implementation of the budget items in all state institutions

Information / special… Member of Parliament, Muhammad Radi, revealed today, Tuesday, the date for implementing the general budget law in ministries and government institutions, while confirming that the Ministry of Finance will send the budget to all ministries tomorrow or the day after.

Radi said in an interview with the information agency, “The launch of the salaries of the new job grades will take place after the completion of sending information and orders in all institutions and state ministries,” noting that “there are thousands of new recruits awaiting the release of their salaries with the budget.”

And he continued, “The implementation of the budget will be decided this week after it was also circulated to all governorates,” pointing out that “there are many job grades that have been allocated and are awaiting full implementation to open the doors for submission to them.”

And on the date of implementation of the general budget, between Radi: “The Ministry of Finance will send the budget to all ministries and institutions tomorrow or the day after tomorrow.”

Many segments of society are waiting for the implementation of the budget on the ground, especially after the appeals submitted by the government to the Federal Court were answered, in addition to the cessation of many service projects due to the lack of financial funding for them, amid warnings of continued delay in its implementation seven months after its approval in the House of Representatives.

Almaalomah.me

The rise in the dollar is temporary

Shafaq News / An official in the Iraqi government described, on Tuesday, the rise in the exchange rate of the dollar against the dinar in the parallel market, “my time,” stressing that the bank’s monetary policy will correct the situation, while the owner of an exchange office considered that the electronic platform is behind the rise.

In an interview with Shafaq News agency, the official said, “The rise of the dollar in the parallel market is controlled by the supply and demand factor, and therefore it is affected by rumors of speculators to reap profits,” noting that “the exchange market is one of the markets most affected by these rumors.”

He added, “People also accept the purchase of the dollar because they hedge against future increases in the exchange rate of the dollar on the other hand,” stressing that “correcting the exchange rate will remain a work of the monetary policy of the Central Bank of Iraq, and it is the only one capable of that.”

In turn, the Al-Waha Exchange Office indicated, in an interview with Shafaq News agency, that “the rise in the exchange rates of the dollar is due to the restrictions set by the Central Bank, which is the electronic platform in selling the dollar,” noting that “removing the platform would cause the dollar to decline (tenth of a tiger) and approach its official price.”

And the Central Bank decided to sell the dollar to banks and merchants by covering their imports through the electronic platform, in addition to financing the personal needs of all citizens, such as travel, treatment and study, through the electronic platform for cash.

The price of the dollar rose against the Iraqi dinar gradually, to reach today in the Kifah inch 148,250 dinars against 100 dollars, and in Erbil, the capital of the Kurdistan Region, 148,650 dinars against 100 dollars.

Shafaq.com

Washington imposes a blockade on Iraq in the energy file

Information / Baghdad… The Secretary-General of the Jihad and Building Movement, Jawad Al-Saadi, denounced America’s attempts to create problems between the government and the people, pointing out that Washington imposes a siege on the country in the energy file and does not allow the entry of companies other than its failed companies to work on electricity projects.

Al-Saadi told Al-Maalouma, “America does not have the ingredients that can improve the electricity situation in Iraq, and the General Electric Company has become very unsuccessful, at a time when Iraq is going through a major crisis that needs the presence of solid companies to save the energy file.”

He added, “The US administration is exercising a policy of pressure on Iraq by controlling the electricity file and not allowing contracts with the German company Siemens or other international or Chinese companies in this sector.”

And he indicated that “Washington worked to exert maximum pressure against Iraq, so that it did not allow the entry of discreet companies to revive the electricity file and did not give Iraq an opportunity to buy Iranian gas.”

Almaalomah.me

New details regarding the oil and gas law.. What is the position of Barzani’s party?

Information /exclusive… Today the Kurdistan Democratic Party (KDP) revealed new details related to the oil and gas law, and while confirming the existence of a new draft legislation under the dome of parliament, it considered it a “final solution” to the disputes between Baghdad and Erbil.

The leader of the party, Wafaa Muhammad, said in an interview with Al-Maalouma agency, “The agreement concluded politically and governmentally between the Kurdistan region and the federal government stipulates the existence of a new draft with the old draft of the oil and gas law.”

He added, “The legislation of the law in accordance with this draft will ensure the end of disputes and finding a final solution to the oil and gas file,” noting that “the new draft allows and gives authority to the region to participate in the export of oil with SOMO, according to what was stated in the Iraqi constitution.”

The leader of Barzani’s party explained: “If changes and amendments are made to the government law, as was done in the budget, it will be difficult for the Erbil government to abide by it.”

Muhammad hoped: “Passing the oil and gas law in accordance with the agreement concluded on 4/4/2023, between Al-Sudani and Masrour Barzani.”

A member of the Oil and Gas Committee, Sabah Sobhi, had confirmed, earlier, that the draft oil and gas law is still with the government due to the outstanding political differences regarding the law, pointing to “the continuation of work to solve problems on the law and put it on the parliament table for the purpose of discussion.”

It is noteworthy that one of the issues that raised controversy between Erbil and Baghdad for many years is the ratification of the oil and gas law, but it was agreed to approve the draft law between the two parties within the framework of a political agreement that led to the formation of the current government.

Almaalomah.me

The President of the Republic directs the need to work hard to implement Article 140 of the Constitution

The President of the Republic, Dr. Abd al-Latif Jamal Rashid, instructed the necessity of serious work to implement Article (140) of the Constitution and to end outstanding issues regarding it in a manner that preserves the rights of all.

The President of the Republic stressed the importance of following up the implementation of the decisions of the Supreme Committee for the implementation of Constitutional Article (140) by holding meetings and gatherings with the relevant authorities and giving priority to this file, which affects the lives of a wide segment of the components of Iraqi society.

The President of the Republic had met separately with a delegation that included a number of farmers and farmers from Kirkuk Governorate, and a member of the Supreme Committee for the Implementation of Article (140) of the Constitution, Mr. Activation of Article (140), where the delegation, after meeting the President of the Republic, held a number of meetings with officials and relevant authorities, which resulted in taking actual steps to implement Cabinet Resolution No. (29) of 2012 with the aim of finding appropriate solutions for the suffering of the farmers and farmers of Kirkuk.

The President of the Republic directed the formation of a committee in the Presidency of the Republic to follow up the implementation of the decisions of the Supreme Committee of Constitutional Article (140) by the relevant ministries and institutions, and to submit a report to the President of the Republic in this regard periodically.

Kirkuktv.net