Parliamentary Transport reveals the paths of the Development Road Project.. Will it enter Baghdad?

Information/Private… Today, Tuesday, the head of the Parliamentary Transport and Communications Committee, Zahra Al-Bajari, revealed the latest developments in laying the foundation stone for the development road project, while confirming that the route of the road has been approved in all governorates included in the plan, except for Dohuk Governorate.

Al-Bajari said in an interview with the Maalouma Agency, “The development road will not pass inside the governorates that approved the road’s routes,” noting that “the goal of not introducing the road into the governorates is to establish factories and industrial cities outside the governorates.”

She continued, “The committees are working to reduce losses by dealing with civil accidents along the paths of the development road,” noting that “the project’s path will be outside Baghdad Governorate, according to the official plans that were drawn up by the project’s administrative and administrative committees.”

Al-Bajari concluded her speech: “The technical committees are communicating with the responsible authorities in Dohuk Governorate in order to obtain approval for all routes,” indicating that “the route of the road has been approved in all governorates included in the plan, except for Dohuk Governorate.”

The government had announced several months ago the broad lines of the development road project, which starts from the ports of Basra towards Turkey and from there to Europe to transport goods and passengers, as well as the tourist and industrial cities that will be established along the road inside Iraq.

Almaalomah.me

International Monetary: Countries are reconsidering their heavy dependence on the US dollar

Shafaq News / Some countries are working to reduce their dependence on the US dollar due to the tremors resulting from the Covid-19 pandemic and the conflict in Ukraine, as well as out of national security interests.

This was announced by Gita Gopinath, First Deputy Director General of the International Monetary Fund, and she said in her speech at Stanford University (California): “Some countries are reconsidering their heavy dependence on the US dollar in international transactions and reserves.”

Gopinath added that after several “years of turmoil,” including due to the COVID-19 pandemic and the conflict in Ukraine, countries are “reviewing their trade partnerships based on economic and national security considerations.”

But she stressed that “despite all the increasing geopolitical risks, the US dollar remains dominant.”

She said: “According to data from the SWIFT payment system, [the dollar] represents about 80% of trade financing. It also constitutes about 60% of foreign exchange reserves, despite the gradual diversification of foreign exchange reserves from the dollar to non-traditional reserve currencies such as the Australian dollar and the Canadian dollar.” “.

She noted that among US-focused countries, the “currency structure for financing trade” did not change much during the 2022-2023 period. But among China-oriented countries, the changes were “more pronounced.”

“In the Chinese bloc, the share of the US dollar in trade finance payments has declined since the beginning of 2022,” Gopinath continued. “At the same time, the share of the renminbi (RMB, the official name of China’s national currency) has more than doubled – from about four to eight percent.” .

A few days ago, American businessman Elon Musk warned that the US dollar would lose its value due to growing distrust of it, if the public debt problem in the United States was not resolved.

Shafaq.com

Iraqi Dinar / US Dollar auction results for today 5-07-2024

Results of the foreign currency selling window for Tuesday 5/07/2024

Advertisement No. (5119)

The amount:

Total amounts of transfers abroad (transfers, credits)
253,058,406

Total cash withdrawals
25,560,000

Total total sales
278,618,406

Note that: The selling price of documentary credits and international settlements for electronic cards is ( 1310 ) dinars per dollar.

The selling price for transfer amounts abroad is ( 1310 ) dinars per dollar.
The cash selling price is ( 1305 ) dinars per dollar.

cbi.iq/currency_auction

Plasschaert’s duties in Iraq end

The duties of the head of the United Nations mission in Iraq, Jeanine Plasschaert, in Iraq have ended.

A statement of the Supreme Judicial Council, a copy of which was received by {Al-Furat News}, stated that “The President of the Supreme Judicial Council, Judge Faiq Zaidan, received today, Tuesday, the Representative of the Secretary-General and Head of the United Nations Mission in Iraq, Jeanine Plasschaert, on the occasion of the end of her work duties in Iraq.”

Jeanine Antoinette Hennis-Plasschaert is a Dutch politician and diplomat, and was appointed Special Representative of the Secretary-General for the United Nations Assistance Mission for Iraq on December 17, 2018.

Alforatnews.iq

Al-Sudani: Iraqi banks are on the right track with financial transfers

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, during his meeting with the delegation of the Union of Arab Banks, headed by the Secretary-General of the Union, Wissam Hassan Fattouh, that Iraqi banks are on the right path regarding financial transfers.

At the beginning of the meeting, according to a statement from his office received by Al-Furat News, Al-Sudani welcomed the holding of the Arab Banks Conference in Baghdad, expressing Iraq’s happiness in hosting the Arab conferences, which confirm Iraq’s return to taking its natural position in the region and the world.

The Prime Minister stressed that “the process of financial and economic reform, which was adopted by the government, cannot occur without a solid banking system that is in harmony with the world,” noting that the government has placed this matter within its work of development and reform since its first day, and that Iraqi banks are proceeding today on a The right path in its transactions regarding financial transfers, and that coordination of financial and monetary policy with the Central Bank continues, while preserving the independence of the bank.”

He pointed out that “the policy of clarity, which was adopted by the government, helped in identifying the deficiencies in the banking system and worked to fix them,” noting that the Development Road Project is one of the aspects of economic integration in the region, as His Excellency welcomed the holding of a banking workshop to discuss the role of banks in the project and in establishing… Industrial cities on the path of the road.

For its part, the delegation of the Union of Banks praised the government’s measures to reform the banking sector. As they are clear measures aimed at strengthening and enhancing the work of this sector, the delegation also expressed its appreciation for the government’s steps in supporting the private sector and enhancing its role in sustainable development and international and regional partnerships.

Alforatnews.iq

Advisor: Iraq is a strategic location in the region and the world

Information / Baghdad… Advisor to the Prime Minister for Religious Affairs, Munir Al-Tarihi, confirmed today, Tuesday, that Iraq represents an important region and a strategic bridge in the region and the world.

Al-Tarihi said in an interview with the Maalouma Agency, “Inciting sectarianism and racism does not serve the country,” pointing out that “these moves are part of the West’s attempts to target Iraqi society.”

He added, “Iraq is considered an important region and a strategic bridge connecting the world, so these attempts exist,” noting that “the enemies’ plans to sow despair among the Iraqi people have failed, and the credit for this goes to the ability and steadfastness of the Iraqis.”

He continued, “The Iraqi people have proven to all countries of the world the extent of their ability not to be led by rumors and strife.”

Almaalomah.me

A deputy in finance expects the Council of Ministers to approve the budget schedules in today’s session

Information / private… On Tuesday, a member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, suggested that the Council of Ministers would approve the amendments to the 2024 budget schedules during its regular session today, indicating that if approved, they will be sent to Parliament tomorrow, Wednesday.

Al-Kadhimi told Al-Maalouma, “The Council of Ministers is supposed to approve the 2024 budget tables during its regular session,” suggesting that “the Council of Ministers will vote on the tables today, especially after the pressure put on the Council by Parliament, which considered delaying the approval unjustified.” .

He added, “If approved today, the schedules will be sent to the House of Representatives tomorrow, Wednesday, and therefore the Parliamentary Finance Committee will study the schedule and provide a briefing to Parliament for the purpose of approving it,” noting that “the House of Representatives will extend its legislative recess until the 2024 budget schedules are approved.”

Almaalomah.me

Iraqi Dinar / US Dollar auction results for today 5-06-2024

Results of the foreign currency selling window for Monday 5/06/2024

Advertisement No. (5118)

The amount:

Total amounts of transfers abroad (transfers, credits)
267,940,620

Total cash withdrawals
15,680,000

Total total sales
283,620,620

Note that: The selling price of documentary credits and international settlements for electronic cards is ( 1310 ) dinars per dollar.

The selling price for transfer amounts abroad is ( 1310 ) dinars per dollar.
The cash selling price is ( 1305 ) dinars per dollar.

cbi.iq/currency_auction

Iran calls for the use of national currencies in economic exchanges with Iraq

Iranian First Vice President Muhammad Mokhber received, on Monday, Iraqi Trade Minister Atheer Daoud Salman al-Ghurairi.

According to Iranian agencies, during the meeting, an informant said that the achievements and successes of the Iraqi government and people have always been of special importance to the Islamic Republic of Iran, expressing his hope that we will witness, day after day, the achievement of more successes and prosperity for the peoples of the two countries.

Mukhbar considered that facilitating cooperation between the private sector in the two countries is the basis for developing economic relations between Iran and Iraq, and added: The Iranian private sector has a great motivation to work in Iraq, due to the friendly relations between the two countries and the presence of the holy shrines.

He called for the Joint Cooperation Committee to identify obstacles to the development of trade relations between the two countries, and to take the necessary steps to resolve them.

Mukhbar also stressed the necessity of using national currencies in economic exchanges, pointing out that the friendly, deep and historical relations between the two countries require the use of national currencies in commercial and economic exchanges, instead of using the currency of a third country.

Alforatnews.iq

An economic expert explains the reasons for the dollar’s decline in the parallel market

Information / Baghdad… Today, Monday, economic expert Safwan Qusay explained the reasons for the decline in the value of the dollar against the Iraqi dinar in the parallel market, pointing out the necessity of taking a number of government financial and economic measures to support the dinar.

Qusay told Al-Maalouma, “There is a policy followed by the Central Bank of Iraq to support the value of the dinar, as the dollar is still being sold for 1,320 dinars, and the commercial system in Iraq has improved so that merchants can invest through the electronic platform and enhance balances by obtaining the dollar at the official price.”

He added, “Demand withdrew from outside the parallel market towards the electronic platform of the Central Bank, in addition to the fact that there is a policy followed by the Sudanese government to implement reforms in financial management towards diversifying the economy and investment and supporting the value of the dinar.”

He stated, “There is a need to implement financial and economic reforms and get out of the circle of the oil economy, as oil prices are what support or reduce the value of the dinar.”

Almaalomah.me