The Central Bank determines the valid and rejected Iraqi banknotes for circulation

Shafaq News / The Central Bank of Iraq determined, on Monday, the valid and non-negotiable banknotes of the local currency.

The bank said, in a statement received by Shafaq News agency, that it is “responsible for defining the categories of Iraqi coins, their standards, printing, and minting coins, and is responsible for destroying and replacing them and identifying defective ones,” noting that “discriminating between their categories by imposing a specific category on the public or refusing to receive A certain category is unacceptable and against the law.”

And he explained that “the banknotes issued by him remain valid for negotiation in the event that they were exposed to any tear of more than 3 cm, and it was repaired with transparent adhesive tape on one or both sides and did not affect its features.”

He added that “the banknotes also remain valid if they were cut in one of their corners within 2 cm and did not affect their features, and also if traces of circulation and use appeared on them and were not harmed or damaged affecting their shape, color and size.”

He pointed out that “banknotes are considered unfit for negotiation if the banknote is worn out or damaged even though it was not torn or parts of it were lost, and if it was damaged as a result of exposure to water or various liquids, and it is also considered unfit for negotiation if it is composed of two parts with different numbers.” Its area was close to that of the original banknote.

And he indicated that “the banknote is also considered invalid if the banknote is fixed with a transparent tape or more on its width or length, in addition to pieces of it more than one angle or loaned, or if it is defective in terms of design and size and if it loses 50% of its area.” It is also considered unfit for circulation if foreign materials stick to it and affect its features, such as inks and dyes, or if they are perforated.”

Shafaq.com

“Dinar and Dollar” file is at the forefront of talks

An expected visit of an Iraqi delegation to Washington, and the “Dinar and Dollar” file is at the forefront of the talks

Economy News – Baghdad… Deputy Prime Minister for Economic Affairs and Foreign Minister Fuad Hussein announced, on Saturday, that he will lead a high-ranking Iraqi delegation to visit the United States on the eighth of next February.

“The delegation, which includes economic officials and from the Central Bank, will hold meetings with senior US officials in Washington to discuss the issue of the dinar and the dollar, and the economic relations between the two countries,” Hussein said in an interview with the “Rudaw” network, followed by “Al-Iqtisad News”.

Economy-news.net

The central bank sets a date for the return of the dollar exchange to “normal”

{Economic: Al Furat News} The Central Bank of Iraq has set the date for the return of the exchange rate of the dollar against the dinar to its “normal state.”

The bank’s advisor, Ihsan Al-Yasiri, said in a press statement, “The turmoil in the dollar prices is a temporary situation, and within two weeks, the dollar price will return to its normal stable position of 1470, that is, before the end of this month of January.”

He pointed out, “The Central Bank’s resources are now at their highest levels in decades,” stressing that “the state’s financial situation is very comfortable.”

Al-Yasiri pointed out, “The controls that were put in place for selling the dollar on the platform came in order for the dollar to go to the real beneficiary, and it is a regulatory process.”

Alforatnews.iq

Parliament calls on the government to expedite the approval of the budget law, and a deputy confirms its completion by the Ministry of Finance

Shafaq News / Independent MP, Yasser Al-Husseini announced, on Thursday, the completion of the draft budget law for the year 2023, and it will be discussed in the next cabinet session, while the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, urged the government to expedite the approval of the budget.

Al-Husseini told Shafaq News agency, “The Ministry of Finance has completed the final draft of the general budget bill for the year 2023, and it is expected to be sent to the General Secretariat of the Council of Ministers next week.”

He added, “Next week’s session of the Council of Ministers will witness a discussion of the budget law, and then a vote on the law and sending it to the House of Representatives.” dollars.”

In turn, the First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, called on the government to expedite the submission of the budget law to the House of Representatives for a vote on it.

Al-Mandalawi’s media office stated, in a statement received by Shafaq News agency, that the latter met with Prime Minister Muhammad Shia’a al-Sudani, to discuss a number of files and priority issues.

Al-Mandalawi stressed the need to expedite the completion of the draft budget law for the current year, and send it to the House of Representatives to include it in the agenda, read it first, and make amendments to it before submitting it to the vote, and stressing the inclusion of contract holders, lecturers, holders of higher degrees, top students, and others from various segments of society within its provisions.

Shafaq.com

Currency auction in Iraq… Total sales drop to 360 million dollars in a week

Shafaq News / The total sales in the currency auction of the Central Bank of Iraq amounted to 360 million dollars during the past week.

Shafaq News agency reporter stated that the Central Bank sold during the past week for the five days in which the auction was opened, starting from Sunday to Thursday, the amount of 360 million and 945 thousand and 774 dollars, at a daily rate of 72 million and 189 thousand and 154 dollars, down by 29.52% from the previous week.

Our correspondent added that the highest dollar sales during the current week were on Sunday, when sales amounted to 112,424,526 dollars, while the lowest sales were on Monday, when sales amounted to 45,169,559 dollars.

He pointed out that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of dollars transferred to bank accounts abroad, in addition to cash sales, amounted to 1460 dinars per dollar.

Shafaq.com

Deputy: The date for approving the budget will not exceed next month

Information / Baghdad… The representative of the Kurdistan Democratic Party bloc, Mahma Khalil, confirmed, on Saturday, that the approval of the 2023 budget law will not exceed the month of next February, indicating that there are no major obstacles to the completion of the draft law.

Khalil said in a statement to Al-Maalouma, “The preparation of the draft budget law for the year 2023 is in its final touches, and that sending it to the House of Representatives is very close.”

He added that “the approval of the draft budget law will not exceed the month of February next,” noting that “there are no major obstacles to the completion of the bill.”

Representative Ali Turki confirmed, in a previous statement to Al-Maalouma, that the Sudanese government has completed the draft budget law, and it will be sent to parliament in conjunction with the start of the second legislative term, which will start its work on the ninth of this month, for the purpose of discussing and approving it.

Almaalomah.me

Al-Darraji: The presence of two prices for the dollar portends a “dangerous” situation

Information/Baghdad… Former MP and Minister Muhammad Sahib al-Darraji warned, on Saturday, of a “dangerous situation” for the Iraqi economy due to the existence of two prices for the dollar.

Al-Darraji said in a tweet on Twitter, “The uncontrolled rise of the dollar must be confronted with measures at the level of controlling the exchange rate. And at the level of addressing the effects of the devaluation of the dinar on the vulnerable classes of society.”
He added, “The presence of two different prices for the dollar (official in the Central Bank and real in the commercial markets) portends a dangerous situation in the Iraqi economy.”

A member of the House of Representatives, Muhammad al-Ziyadi, called earlier on the Prime Minister, Muhammad Shia’ al-Sudani, to stand with the interest of the poor and find the necessary solutions to address the dollar price crisis, while stressing that the continued sale of oil in US dollars will not provide any result.

Almaalomah.me

Because of the dollar crisis.. Parliament intends to host Al-Sudani, the governor of the Central Bank and the Minister of Finance

A member of the House of Representatives, Aqil Al-Fatlawi, revealed today, Saturday, the existence of a movement by members of the House of Representatives to host the Prime Minister, Muhammad Shia Al-Sudani, the Governor of the Central Bank and the Minister of Finance, to discuss the repercussions of the crisis of the high dollar exchange rates in the Iraqi markets.

Al-Fatlawi said, in an interview with Al-Maalouma, that “the crisis of the rise in dollar prices will be present in the process of hosting Prime Minister Muhammad Shia’a Al-Sudani, the governor of the Central Bank and the Minister of Finance inside the dome of Parliament.”

He added, “The dollar file is considered one of the most important files that will be discussed inside the parliament dome in order to clarify from the executive authorities about whether there are solutions to address the crisis and to identify the reasons behind the rise, so that the Iraqi people know in which direction Parliament is going towards the dollar file.”

The member of the House of Representatives explained, “The subsequent sessions will be hosted by Al-Sudani, Taif Sami, and the Governor of the Central Bank, which requires collecting the signatures of approximately 75 deputies.”

Al-Fatlawi said, “Parliament has the right to host the prime minister or submit a request when the parliament is completed.”

The crisis of rising dollar prices continues in the Iraqi markets for the third week in a row, amid fluctuations in prices between low and high, despite government measures and an attempt to control them by increasing the pumping of the dollar into the Iraqi markets.

Burathanews.com

Independent deputy: We are determined to find solutions to the exchange rate of the dollar

Information / Baghdad… Independent MP Kazem Al-Touki confirmed, on Friday, that there are parliamentary moves to find remedies and solutions to the crisis of the high exchange rate of the dollar, pointing to the presence of merchants and owners of capital, as well as moves from Washington to raise the value of the dollar against the dinar and harm the Iraqi citizen.

Al-Touki said in an interview with Al-Maalouma, that “commodities, merchandise, and even foodstuffs all rise and fall according to the exchange rate of the dollar in the local markets, as the current changes have negatively affected the citizen’s living situation.”

He added, “The House of Representatives is determined to take its measures after it discusses the issue of the exchange rate and finds out its reasons and causes, and obliges the concerned authorities to find remedies and solutions to the current crisis.”

And he indicated that “America has taken financial and banking measures, and therefore these measures are against the Sudanese government, in addition to that there are capitalists and merchants working to impose their hegemony on the currency and achieve personal gains.”

Almaalomah.me

Within 11 months.. about 150 trillion dinars, Iraq’s revenues last year

Shafaq News / The Iraqi Ministry of Finance revealed, on Thursday, that the state’s revenues during the past year amounted to nearly 150 trillion dinars, and a financial surplus exceeded 55 trillion dinars, within 11 months.

According to tables and data issued by the ministry, and followed by Shafaq News agency, the accounts of the Iraqi state, from January 2022 until November of the same year, amounted to 149 trillion and 556 billion and 392 million and 918 thousand and 861 dinars, which represents 95% of the total revenues.

And it showed that the total expenditures with advances amounted to 93 trillion and 859 billion and 526 million dinars.

According to the finance table, the budget surplus until last October amounted to 55 trillion, 696 billion and 866 million dinars (equivalent to 38.040 billion dollars).

For his part, the financial expert, Muhammad al-Hassani, stressed in an interview with Shafaq News agency, “the need to invest the financial surplus in developing industry and agriculture and supporting the foundations of the real private sector, to operate factories and factories.”

And that “this guarantees the solution of several problems existing in the Iraqi economy, including unemployment and corruption, in both its financial and administrative aspects.”

He added, “Oil prices are affected by global demand, which in turn is affected by global economic, political and health fluctuations,” expecting that “the surplus may not be available to Iraq during the current year 2023 or next year, according to the data of international financial institutions that are pessimistic towards the global economy.”

The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021, in an interview with Shafaq News agency, that the reasons for the survival of the Iraqi economy as a rentier go back to the wars and the imposition of the economic blockade during the past era, and the political conflicts we are witnessing today, which led to the dispersal of economic resources.

And the continuation of the Iraqi state relying on oil as the sole source of the general budget puts Iraq in danger from global crises that occur from time to time due to the oil being affected by it, which makes Iraq tend every time to cover the deficit by borrowing from abroad or internally, and thus indicates the inability to manage State funds effectively, and the inability to find alternative financing solutions.

Shafaq.com