News — Dinar Recaps Blog Page — Dinar Recaps (2024)

Urgent| An Economic Expert Warns: We Are Close To The Moment The Dinar Collapses Against The Dollar

July 4, 2024 Baghdad/Iraq Observer Economic expert Ziad Al-Hashemi warned, today, Thursday, of the collapse of the Iraqi dinar against the US dollar in light of the presence of rising factors.

Al-Hashemi said in a blog post on the (x) platform, followed by “Iraq Observer,” that

“(dollar exchange rates) are on the threshold of 1,500 dinars and are likely to rise further, after the US Federal Reserve banned Iraqi remittances in Chinese yuan, due to suspicions of smuggling, money laundering, and financial fraud.”

He added: “It is expected that this ban will cause an increase in demand for the cash dollar within the parallel markets, and this may push the Iraqi Central Bank to return to implementing more stringent measures that will increase the state of anxiety and turmoil in the markets.” Al-Hashemi continued:

“During this week, we witnessed the cessation of selling the dollar to travelers through approved banking companies and restricting it to sales outlets inside the airport only.

This measure will cause more rapid demand for the dollar from the parallel market, especially with the start of the travel season.” He continued: “As I mentioned in previous attached tweets, the Iraqi Central Bank has not been able, more than 18 months after the exchange rate crisis, to dismantle and solve the exchange rate problem, as the factors of rising exchange rates are still effective and influential.”

He pointed out that “what happened in the last period was merely a postponement of the moment of the collapse of the dinar against the dollar, by numbing the markets with an imaginary stability as a result of a huge sale of the dollar that could decline sharply with any decision from the Federal Reserve that turns the tables on the central bank’s actions, and this is what happened today.” https://observeriraq.net/عاجل-خبير-اقتصادي-يحذر-اقتربنا-من-لحظة/

The Central Bank Urges Reporting Cases Of Corruption

July 03, 2024 The Central Bank of Iraq encourages witnesses, experts, and whistleblowers to report cases of corruption, in accordance with Article (9/second) of the Law on the Protection of Witnesses, Experts, Informants, and Victims No. (58) of 2017 related to rewarding whistleblowers for corruption cases.

This bank indicates that the informant is rewarded for reporting cases of corruption if it leads to their disclosure, within the basis and amount of the reward according to a system issued by the Council of Ministers. Central Bank of Iraq information Office 3 - July – 2024 https://cbi.iq/news/view/2610

A Government Source Announces The Size Of The Debts Collected For The Trade Bank Of Iraq

Economy Yesterday, 20:59 Baghdad – IA A government source announced today, Thursday, the volume of debts collected for the Trade Bank of Iraq.

Speaking to the Iraqi News Agency (INA), the source said, “Within the framework of the effort made by the government in the field of financial and administrative reform of the government banking sector, and based on the directives and continuous follow-up of the Prime Minister to restructure the due debts (government and private sector), which benefits the Iraqi Bank.”

For TBI Trade, the following results were achieved during the last period of the government’s life:

1. The total debts collected and owed by the government sector, including the balances of the Kurdistan region, and paid to the Iraqi Trade Bank until 6/30/2024 amounted to approximately one trillion and 630 billion Iraqi dinars. He added,

"2. The total debts collected and owed by the private sector and paid to the Iraqi Trade Bank until 6/30/2024 amounted to approximately three hundred and forty-eight billion Iraqi dinars,

3. The total amounts collected to the Ministry of Finance IRAQ2 account, which represent expired and canceled credit balances, It amounted to approximately fifty-three million dollars. He continued,

"Work is continuing to settle other debts in this area, in coordination with the entities issuing those credits." https://www.ina.iq/212001--630-.html

Nassif: “Capital” Circumvents Iraqi Law And Drains Iraqi Funds Through The Currency Auction

Policy 2024-07-03 | 2,923 views A member of the Parliamentary Integrity Committee, Representative Alia Nassif, revealed today, Wednesday, that the Capital Bank is circumventing Iraqi law, while indicating that it is draining Iraqi funds through the currency auction. Nassif said in a tweet on "X", "Capital Bank agreed with the National Bank to circumvent Iraqi law by opening an account for Iraqi clients at Capital and then making investment transfers."

She added, "Huge sums are deposited in Iraqi dinars and then transferred and received in Amman in dollars as part of an organized operation to smuggle money into Jordan," indicating that "Iraqi funds are being drained through the currency auction." https://www.alsumaria.tv/news/politics/492906/نصيف-الكابيتال-يتحايل-على-القانون-العراقي-ويستنزف-الأموال-العراقية-بمز

Stopping Dealing In Chinese Remittances, Whether Temporary Or Permanent.. Al-Kazemi Reveals The Details To Al-Sumaria

Special Sumerian 2024-07-04 | 3,920 views Member of the Parliamentary Finance Committee, MP Moeen Al-Kadhimi, revealed today, Wednesday, the reason for stopping Chinese transfers in the “yuan” currency, while indicating that the matter is temporary until investigation mechanisms are found.

Al-Kadhimi said in an exclusive interview with Al-Sumaria News that “China’s transfers in the yuan currency have been temporarily stopped Until audit mechanisms are found.” Al-Kadhimi added, "During the past period, we have found significant manipulation of Chinese remittances."

https://www.alsumaria.tv/news/alsumariaspecial/492972/إيقاف-التعامل-بالحوالات-الصينية-مؤقت-ام-دائمي-الكاظمي-يكشف-لـ-السومرية

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

I have always grown from my problems and challenges, from the things that don't work out. That's when I've really learned.-Carol Burnett

Those things that hurt, instruct.-Benjamin Franklin

Pain is the root of knowledge.-Simone Weil

Life can be real tough ... you can either learn from your problems, or keep repeating them over and over.-Marie Osmond

Bad times have a scientific value. These are occasions a good learner would not miss.-Ralph Waldo Emerson

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

TNT:

Tishwash: Iranian Ambassador after Meeting Barzani: Our Relationship with the Region is Deep-rooted and Growing

Iranian Ambassador to Iraq Mohammad Kazem Al-Sadig met with Kurdistan Democratic Party (KDP) leader Massoud Barzani in Baghdad on Thursday. Sadig tweeted that Iran’s relations with the Kurdistan Region are old, deep-rooted and growing.

“Today I met with Masoud Barzani in Baghdad and discussed issues of mutual concern and ways to improve bilateral relations,” Sadiq tweeted. “Security and trade are pillars of regional development and the main priority in the relations between the two sides,” he added.

The meeting was part of the agenda of Massoud Barzani's visit to Baghdad, which began yesterday, Wednesday, and is scheduled to end on Thursday night. It included a series of meetings, discussions and talks with political and diplomatic parties in Baghdad. link

CandyKisses: Central Bank Explains New Mechanism for Delivering Dollars to Travelers

The Central Bank of Iraq revealed, on Thursday, the new mechanism for passengers to receive foreign currency (dollars), which will be exclusively through corporate outlets and banks at international airports.

"The goal of the new mechanism, which will enter into force on July 14, is to reach the real traveler and pass proper transactions, as well as facilitate the arrival of travelers to the dollar faster," the bank said in a statement.

The Central Bank reviewed "the new mechanism for travelers to receive their share of foreign currency (dollars) by the traveling citizen going to the authorized exchange companies, spread in all cities to deliver the amount in dinar equivalent to the citizen's share of the dollar according to the official exchange rate of the Central Bank of Iraq."

He pointed out that "the company will work to enter the data of the traveling citizen and remove his name in the electronic platform of the Central Bank of Iraq and deliver him a receipt that supports the process of depositing the dinar, to receive the cash dollar exclusively inside the airport," noting that "when completing the departure procedures, the amount will be delivered in dollars through the ports available at the airport, 24 hours a day, 7 days a week."

The statement noted that "the Central Bank decided to allow exchange companies to receive more than one quota during the week in order to achieve full response to traveler requests."

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Tishwash: Al-Sudani: Our country has natural and human resources and assets, some of which have not been invested to this day.

Prime Minister Mohammed Shia al-Sudani confirmed, today, Thursday, that Iraq has the highest growth rate in the region, while pointing out the necessity for the government sector to perform its duties.

The Prime Minister's Media Office said in a statement received by the Iraqi News Agency (INA), "Prime Minister Mohammed Shia Al-Sudani sponsored, today, Thursday, the annual celebration of the National Job Day, which was held at the government palace in the capital, Baghdad, where 50 distinguished employees in various fields were honored, who were chosen by specialized committees; For their excellence in job performance."

Al-Sudani praised “the distinguished employees who worked hard and deserved distinction,” stressing that “this selection of male and female employees proves the strength of the Iraqi and the principles, confidence, and positive energy he carries.”

He added, "The martyr who sacrificed himself for Iraq and the Iraqis remains the first distinguished person," praising "the initiative to honor distinguished employees."

He appreciated “the efforts of the concerned committee and everyone who contributed to this initiative, which confirms the ability of employees in the public sector and negates the negative image of them, as it highlights the loyal, efficient, productive and honest employee,” noting “the presence of other numbers of distinguished employees who perform their duties with dedication and high efficiency.”

The Prime Minister referred to “the stories of distinguished employees that are worthy of consideration and enhance confidence in government employees, especially since some of them were able to transform the difficult circ*mstances and challenges they are experiencing into success, distinction and dedication in the public service they provide to citizens,” indicating that “one of the people of determination achieved excellence over his colleagues in programming, as well as the insightful student in Shatra who excelled and overcame her health conditions, which is a case of creativity that we have the right to be proud of.”

He touched on “the pivotal and essential role of the public sector in building the country, and its implementation of the government’s program and priorities, in addition to its importance in improving the country’s reality in all areas, as Iraq is witnessing the highest growth rate in the region, and the government sector must perform its duties in this regard,” stressing that “the government has made significant progress in less than two years in working and addressing challenges in all areas, as our country possesses natural and human resources, capabilities, and resources, some of which have not been invested to this day.” link

************

Tishwash: Al-Sudani: Iraq is witnessing the highest growth rate in the region

Prime Minister Mohammed Shia al-Sudani confirmed today, Thursday, that Iraq is witnessing the highest growth rate in the region.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that Al-Sudani "sponsored today, Thursday, the annual celebration of the National Job Day, which was held at the government palace in the capital, Baghdad, where 50 distinguished employees in various fields were honored, who were chosen by specialized committees; for their excellence in job performance."

Al-Sudani praised the "distinguished employees who worked hard and deserved distinction. This selection of male and female employees proves the strength of the Iraqi and the principles, confidence and positive energy he carries," stressing that "the martyr who sacrificed himself for Iraq and the Iraqis remains the first distinguished one."

He added, "We commend the initiative to honor distinguished employees, and appreciate the efforts of the relevant committee and everyone who contributed to this initiative, which confirms the ability of employees in the public sector, and negates the negative image of them, as it highlights the loyal, competent, productive and honest employee," noting that "there are other numbers of distinguished employees who perform their duties with dedication and high efficiency."

He pointed out that "the stories of distinguished employees are worthy of consideration and enhance confidence in government employees, especially since some of them were able to transform the difficult circ*mstances and challenges they are experiencing into success, distinction and dedication in the public service they provide to citizens," indicating that "one of the people of determination achieved excellence over his colleagues in programming, as well as the insightful student in Shatra who excelled and overcame her health conditions, which is a case of creativity that we have the right to be proud of."

During the ceremony, Al-Sudani addressed the "pivotal and essential role of the public sector in building the country, and its undertaking of implementing the government's program and priorities, in addition to its importance in improving the country's situation in all fields, as Iraq is witnessing the highest growth rate in the region, and the government sector must perform its duties in this regard."

He stressed that "the government has, in less than two years, made significant progress in working and addressing challenges in all areas, as our country possesses natural and human resources, some of which have not been invested to this day." link

Mot: This Guy Flew His Drone Through Fireworks. What He Filmed..........

https://www.youtube.com/watch?v=a9KZ3jgbbmI

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In An Economic Analysis.. Indicating The Most Prominent Reasons For The Variation In Dollar Prices In Iraq

Time: 2024/07/04 Read: 1,586 times {Economic: Al Furat News} The economic expert, Salah Nouri, indicated that the American embargo is one of the most prominent reasons for the variation in the dollar price in Iraq.

Nouri explained via {Al Furat News} that: "Another reason that affects the disparity between the parallel market price of the US dollar and the official exchange rate is the US ban on each of {Russia, Iran, Syria}."

Nouri added, "Therefore, goods and merchandise cannot be imported from them through financial transfers via the electronic payment system of the Central Bank of Iraq, but rather by obtaining the dollar from the parallel market, i.e. increasing demand for it."

Stability of the price

In addition, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed the stability of the dollar exchange rate against the dinar despite its significant rise today, reaching 1,500 dinars.

Salih told {Al Furat News} that the fixed exchange rate system in Iraq is based on the rule of international reserves, which is the highest in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued.

In view of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports) amounting to 1320 dinars per dollar.

The selling prices in the field of exchange in the local markets with the closing of the main stock exchange in Baghdad today, Thursday, recorded 149,750 Iraqi dinars for 100 dollars, while the purchase amounted to 147,750 dinars for 100 dollars. LINK

Government Source Announces The Amount Of Debts Collected For The Benefit Of The Trade Bank Of Iraq

Trade Bank of Iraq Banks Economy News – Baghdad A government source announced, on Thursday, the amount of debts collected on behalf of the Trade Bank of Iraq.

The source said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "within the framework of the government's efforts in the field of financial and administrative reform of the government banking sector, and based on the directives and continuous follow-up of the Prime Minister to restructure the due diwan (government and private sector) that benefit the Trade Bank of Iraq (TBI),

the following results have been achieved during the past period of the government's life:

1. The total debts collected and owed by the government sector, including the balances of the Kurdistan Region and paid to the Trade Bank of Iraq until 6/30/2024, amounted to approximately one trillion and 630 billion Iraqi dinars."

He added, "2. The total debts collected and owed by the private sector and paid to the Trade Bank of Iraq until 6/30/2024 amounted to approximately three hundred and forty-eight billion Iraqi dinars. 3. The total amounts collected to the Ministry of Finance's account IRAQ2, which represent balances of expired and canceled credits, amounted to approximately fifty-three million dollars."

He added, "Work is ongoing to settle other debts in this area, in coordination with the entities issuing these credits." 76 views 07/04/2024 - https://economy-news.net/content.php?id=44903

Al-Sudani: Iraq is witnessing the highest growth rate in the region

Money and business Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani confirmed today, Thursday, that Iraq is witnessing the highest growth rate in the region.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that Al-Sudani "sponsored today, Thursday, the annual celebration of the National Job Day, which was held at the government palace in the capital, Baghdad, where 50 distinguished employees in various fields were honored, who were chosen by specialized committees; for their excellence in job performance."

Al-Sudani praised the "distinguished employees who worked hard and deserved distinction. This selection of male and female employees proves the strength of the Iraqi and the principles, confidence and positive energy he carries," stressing that "the martyr who sacrificed himself for Iraq and the Iraqis remains the first distinguished one."

He added, "We commend the initiative to honor distinguished employees, and appreciate the efforts of the relevant committee and everyone who contributed to this initiative, which confirms the ability of employees in the public sector, and negates the negative image of them, as it highlights the loyal, competent, productive and honest employee," noting that "there are other numbers of distinguished employees who perform their duties with dedication and high efficiency."

He pointed out that "the stories of distinguished employees are worthy of consideration and enhance confidence in government employees, especially since some of them were able to transform the difficult circ*mstances and challenges they are experiencing into success, distinction and dedication in the public service they provide to citizens,"

indicating that "one of the people of determination achieved excellence over his colleagues in programming, as well as the insightful student in Shatra who excelled and overcame her health conditions, which is a case of creativity that we have the right to be proud of."

During the ceremony, Al-Sudani addressed the "pivotal and essential role of the public sector in building the country, and its undertaking of implementing the government's program and priorities, in addition to its importance in improving the country's situation in all fields, as Iraq is witnessing the highest growth rate in the region, and the government sector must perform its duties in this regard."

He stressed that "the government has, in less than two years, made significant progress in working and addressing challenges in all areas, as our country possesses natural and human resources, some of which have not been invested to this day."

105 views 07/04/2024 - https://economy-news.net/content.php?id=44888

The Central Bank Explains The New Mechanism For Delivering Dollars To Travelers

Economy | 04/07/2024 Baghdad - Mawazine News The Central Bank of Iraq revealed, today, Thursday, the new mechanism for travelers to receive foreign currency (dollars), which will be exclusively through company and bank outlets at international airports.

The bank confirmed in a statement that "the goal of the new mechanism, which will come into effect on July 14, is to deliver the dollar to the real traveler and pass sound transactions, in addition to facilitating travelers' access to the dollar more quickly."

The Central Bank reviewed the "new mechanism for travelers to receive their share of foreign currency (dollars) by the traveling citizen going to the authorized exchange companies, spread across all cities, to hand over the amount in dinars equivalent to the citizen's share of the dollar according to the official exchange rate of the Central Bank of Iraq."

He pointed out that "the company will work on entering the data of the traveling citizen and uploading his name on the electronic platform of the Central Bank of Iraq and handing him a receipt confirming the process of depositing the dinar, to receive the cash dollar inside the airport exclusively," indicating that "upon completing the departure procedures, the amount will be handed to him in dollars through the outlets available at the airport, 24 hours a day, 7 days a week."

The statement noted that "the Central Bank decided to allow exchange companies to receive more than one share during the week, in order to achieve full response to travelers' requests." https://www.mawazin.net/Details.aspx?jimare=250764

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Adversity comes with instruction in its hand.-Anonymous

Mistakes are often the best teachers.-James A. Froude

Pain, indolence, sterility, endless ennui have also their lesson for you.-Ralph Waldo Emerson

Prosperity is a great teacher; adversity is a greater. Possession pampers the mind; privation trains andstrengthens it.-William Hazlitt

Wisdom comes by disillusionment.-George Santayana

You have learned something. That always feels at first as if you had lost something.-George Bernard Shaw

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Willem Middelkoop: The Big Reset - How Power and Pricing is Shifting Away From the West

Palisades gold Radio: 7-3-2024

Tom Bodrovics welcomes back Willem Middelkoop, author of 'The Big Reset,' to delve into his insights on the anticipated transformation of the international monetary system and its effects on global finance and investment strategies.

Published in 2007, 'The Big Reset' garnered considerable attention after the financial crisis in 2008 due to Middelkoop's beliefs regarding the impending collapse of the dollar system as a result of mounting debt and economic instability.

In this conversation, he reflects on how his viewpoint has progressed since 'The Big Reset's debut and the emergence of Bretton Woods 3.0 from the eastern world, as well as the shift towards commodity-based currencies.

Middelkoop highlights the importance of gold in the context of evolving reserve currencies and its function as a hedge against currency devaluation. He underscores the significance of comprehending the process rather than fixating on timing when anticipating these financial transitions.

Discussing potential alternatives to the US dollar as the world's primary reserve currency, Middelkoop acknowledges China's expanding influence and burgeoning gold reserves. He asserts that the transition will unfold gradually with minimal impact on daily life for western residents but issues a warning of potential harm to Europe in the power struggle between the U.S. and China.

Moreover, he voices concerns regarding economic and geopolitical risks, particularly escalating tensions among major world powers that could lead to significant military confrontations.

Middelkoop shares his investment portfolio strategy, dividing it equally among equities, real estate, liquid cash or Bitcoin, physical gold, and silver.

He advocates for diversification and caution in response to the inflation of bond and equity valuations. Middelkoop believes that commodity-backed currencies and base metal producers present opportunities for underpriced investments. Middelkoop also addresses the difficulties faced by the silver mining industry due to jurisdictional risks, low silver prices, and a lack of incentives for exploration.

Time Stamp References:

0:00 - Introduction

0:45 - The OG Reset Book

8:10 - Hindsight & Timing

13:05 - Pozsar & Dedollarization

17:47 - Gold Vs. Fiat History

20:45 - A New Gold Standard?

23:30 - Global Debasem*nt

29:38 - Dollar Replacements?

33:15 - BRICS 'Trade' Currency

36:39 - Hegemony & Conflict Risks

44:02 - Dollar Weaponization

46:08 - Silver & Physical Deficits

48:44 - Central Banks & Silver

53:36 - No New Silver Finds??

56:45 - Jurisdictional Risks

1:00:07 - Portfolio Weighting

1:03:09 - Signposts Ahead?

1:05:33 - Wrap Up

Talking Points From This Episode

- Middelkoop emphasizes gold as a hedge against currency devaluation in the context of evolving reserve currencies.

- He highlights China's expanding influence and growing gold reserves as potential alternatives to the US dollar.

- Middelkoop advocates for diversification in investment portfolio, including commodity-backed currencies and underpriced base metal producers.

https://www.youtube.com/watch?v=_zSzVmAgZt0&t=14s

TNT:

Tishwash: Iraq is “crowded” with all kinds of holidays: Businesses are halted and employees “are not compensated” for official working hours

Hardly a week goes by in Iraq without one of its days being a holiday, paralyzing Iraqis and making some of them “happy” and others “grumpy,” especially with the cessation of work in official departments.

According to the reading of specialists and researchers, Iraq is the country that witnesses the most disruption in official working hours. If the federal government does not declare a holiday, it authorizes the governorates and districts to make the day they want an official holiday.

The official holidays in Iraq for the year 2024 are as follows:

January 1, New Year's Day

January 6, Iraqi Army Day

April 10th for three days, Eid al-Fitr

May 1, Labor Day

June 16-20, Eid al-Adha

June 26, Eid al-Ghadir

According to expectations, the Islamic New Year will fall on July 7.

July 14, Revolution 14 (public holiday)

According to expectations, July 16 will be the tenth of Muharram (an official holiday), and the birth of the Prophet Muhammad will be on September 15.

October 3, Iraqi National Day

December 10, Iraqi Victory Day.

All of these holidays are official, and are specified by an official law voted on by Parliament on May 22, 2024, for Iraqis to enjoy, excluding the weekend, which is designated as (Friday and Saturday).

Earlier, economic expert Nabil Al-Marsoumi said:

*Year = 48 weeks

*Total official holidays per year (Friday and Saturday) = 96 days

*Total official occasions in the year = 22 days

*Total number of official holidays per year = 118 days.

According to Al-Marshoumi, these holidays “are added to religious occasions and emergency holidays such as rain and high temperatures announced by the central government and local governments, which are estimated at about 22 days a year, the highest in the world, while there are 8 official holidays in England and Wales, which is considered one of the fewest number of holidays in the world.”

He continued: “The total number of official and unofficial holidays is 140 days, and the total number of annual working days is 225 days,” noting that “the total number of employees’ salaries, including self-financing and contracts, is 70 trillion dinars.”

Al-Marsoumi pointed out that “the average daily salary is 192 billion dinars, which represents the daily loss from the disruption of work, while the total financial losses from unofficial holidays, except for Friday and Saturday, may amount to 4.224 trillion dinars, and the total financial losses from official and unofficial holidays, except for Friday and Saturday, amount to 8.448 trillion dinars.”

Most Iraqi cities and districts contain shrines for the masters and infallibles, and if the anniversary of one of their martyrdoms falls, the governorate declares an official holiday that includes all its departments, or it is designated in a specific district or district, as happened with the Babylon Governorate Council.

The council said in a statement today, Wednesday, that it had “voted to suspend official work in Al-Hamza Al-Gharbi only for tomorrow, Thursday, on the occasion of the martyrdom of the grandson of Al-Abbas, peace be upon him.”

Unlike Al-Marsoumi, economic expert Dhurgham Muhammad Ali does not see any losses incurred by Iraq due to official holidays, while he pointed out the existence of “benefits.”

Ali said in an interview with “Eshan”: “Official holidays in Iraq do not constitute major losses for government departments because most government departments are service-oriented, not productive.”

He explained that “the increase in official holidays leads to a reduction in electricity consumption, traffic congestion and fuel. On the other hand, there are no major economic losses resulting from the holiday because the departments are only service departments, and most of the departments that are in contact with citizens’ lives, such as health, emergency services and others, continue their work.”

He pointed out that "the economic losses come only from the fact that the number of working hours for employees is less for the same salaries, and this is not considered a direct loss." link

************

Tishwash: Carrying the Kurds' "dreams"... Barzani in Baghdad

The office of the President of the Kurdistan Democratic Party, Masoud Barzani, announced that the party leader will visit Baghdad today, Wednesday (July 3, 2024), to hold a series of meetings with Iraqi officials and political leaders.

Barzani's office said in a statement received by Baghdad Today, "The party's leader will visit Baghdad today to hold a series of meetings with political parties and political leaders."

He added, "The budget, the formation of the local government in Kirkuk, the Sinjar issue, and the election of the Speaker of the Iraqi Parliament will be among the main topics in his meetings."

According to local reports and Kurdish sources, the visit was described as not to discuss pending files, but rather as a final culmination of the end of all technical and legal discussions on all current files, at least those related to salaries and political crises, while the major files related to the oil and gas law and the file of resuming the export of the region’s oil, which has become a vicious circle between Baghdad and foreign companies operating in the region, continue.

Barzani's visit also coincides with the Turkish incursion and ground operations it is carrying out in northern Dohuk within the Kurdistan Region, while these operations came in accordance with a prior agreement between Baghdad and Ankara during the visit of Turkish President Recep Tayyip Erdogan to Baghdad link

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CandyKisses: Al-Gizani: Barzani’s visit is the culmination of a positive movement between Baghdad and Erbil

{Politics:Euphrates News} A member of the General Assembly of the Hikma Movement, Sami Gizani, promised the visit of the head of the Kurdistan Democratic Party, Massoud Barzani, "coronation" of a positive movement between Baghdad and Erbil.

Al-ji*zani, during his hosting of the program {Free Word} broadcast by the Euphrates satellite channel this evening, said:

- Barzani's visit came to consolidate relations and the state of clarity and transparency is present in Baghdad and is the culmination of a positive movement between Baghdad and Erbil.
- Baghdad remains the sponsor, and the country can for everyone under the constitution and laws to regulate the relationship with Erbil.

-The Sudanese government of Mohammed Shia has 3 elements of a force and is {a parliamentary arm, a coalition of state administration, and the personality of the prime minister}.

- Personal desires weaken the building of the homeland, and there are parties working to make crises and harmony and peace do not benefit them, and we need to make ranks and it is in Iraq's interest that Baghdad and Erbil are strong.

- Iraq emerged from a major crisis after the victory over the terrorist ISIS, and the sounds of starrel are working to create a repelling environment for the meeting, politics and the economy, and today we need a national voice that represents all Iraqis and the coalition of the state administration is a successful model of Iraqi unity.

- The size of the problems during the many 20 decades between Baghdad and Erbil and there are parties in the region talking about issues contrary to the constitution. We believe that the Constitution and the decisions of the Federal Court are enough to solve all crises. Therefore, there is a desire on the parties to whistle them and the conviction that dialogue is the only way to solve the problems.

- Dialogue is a health condition and the political player has every strength in dismantling the scene and Barzani's visit to the coordination framework and the state administration reflects the state of maturity in the political scene.

- The personal contract affected the political scene between Baghdad and Erbil, and the dialogue will end the crises, and internal stability will block the way for foreign interference in Iraqi affairs.

- The exit of the international coalition forces from the country must be an Iraqi non-political decision, and the localization of salaries for the region's employees is a force for Baghdad and Erbil.

The head of the Kurdistan Democratic Party, Massoud Barzani, arrived today, Wednesday, in the capital Baghdad on an official visit, where Prime Minister Mohammed Shia Al-Sudani, who in turn confirmed that he has come an important way in building trust between the federal governments and the region, while Barzani pointed out that the Sudanese is leading the state with intentions that have reached everyone to this comfortable situation.

It is noteworthy that after a break that lasted about 6 years, the President of the Kurdistan Democratic Party, Massoud Barzani, visits Baghdad, in a sign of the positivity of the current relations between the Kurdistan region and the federal government.

Mot: Red Skelton - Two Highway Patrolmen & Two Texans & Frogs.............

https://www.youtube.com/watch?v=NSFucXg-FzQ

Mot: Listen To Lee Greenwood’s New Rendition of ‘God Bless the U.S.A.’ ...................

https://www.youtube.com/watch?time_continue=194&v=SrMftm6Km3g&feature=emb_logo

"Short-Term".. Al-Sudani's Advisor Explains The Reasons For The Continued Rise In The Exchange Rate

Money and business Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Mohammed Salih, revealed the reason for the continued rise in the dollar exchange rate in local markets, while stressing that this rise is short-term and does not constitute any relative importance in affecting the stability of the general price level.

Saleh said in an interview followed by "Al-Eqtisad News", "Despite the fluctuations in the parallel or irregular exchange market, whose short-term fluctuations are the result of noise from colored or confusing information originating from international or regional circ*mstances, or the issuance of some regulatory instructions adapted to foreign currency, which some speculators are trying to exploit to generate a trend of fateful profits in the exchange market, it can be said that the fixed exchange rate system in Iraq is still based on a strong foundation consisting of the country's international reserves."

Noting that "it is the highest in Iraq's history through the management of its foreign reserves, resulting from a surplus in the current account of the balance of payments at a significant rate that may reach (positive 7% of the country's gross domestic product)." He indicated that "foreign currency covers a percentage of more than 130% of the total currency currently issued into circulation."

Saleh added, "In light of the strength of the official central exchange rate and its role in financing nearly 90% of the private sector's foreign transfer transactions, excluding the government sector, the dollar-to-dinar exchange rate in the parallel market does not constitute any relative importance in its fluctuations in influencing the stability of the general price level, which has become static in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1320 dinars per dollar."

He stressed that "this lack of influence is embodied in the state of stability of the relative prices of goods and services to a large extent, as the average annual inflation in our country does not exceed 3%."

He continued, "Based on the above, and in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds $100 billion, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods, due to urgent international or regional political events here and there, or in adapting some of the instructions regulating the monetary market, as we noted above."

He added, "After the decline of the dollarization phenomenon in domestic transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition, the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets, and at a rate of 10% of the total supply and demand transactions for the currency."

He stressed that "the stability of the dinar to dollar exchange rate that the country is witnessing even in the secondary markets above is a real and solid stability, and is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country, and containing inflationary expectations that were caused by the parallel exchange market forces during the past years."

He added in his speech that "the irregular secondary market, due to the freedom of external transfer, falls under the influence of the official exchange market rate, whose operations are constantly expanding in favor of dealing with the fixed official exchange rate."134 views 07/04/2024 https://economy-news.net/content.php?id=44872

An Economist Explains The Reasons For The Dollar’s ​​Rise And Sets A Condition For Its Decline - Urgent

Economy |Baghdad Today – Baghdad Financial expert Alaa Jaloub Al-Fahd revealed, today, Thursday (July 4, 2024), the reason for the rise in the dollar price again in the parallel market.

Al-Fahd said in an interview with Baghdad Today, "The dollar exchange rate in the parallel market is witnessing an increase, decrease and fluctuations as a result of the Central Bank of Iraq taking new measures regarding selling the currency to travelers and delivering the amounts exclusively from the airport," indicating that "there are also those who are trying to raise concerns with any new measures taken by the Central Bank for the benefit of some speculators."

He explained that "the Central Bank of Iraq has announced more than once that it will continue to sell the currency and cover all needs, whether for import or travel, and there are no concerns," adding, "But there are those who are trying to spread some negative concerns for the sake of profit."

He added that "the Central Bank of Iraq controls all monetary policy measures and the financial situation is reassuring," expecting that "the dollar exchange rate will decrease in the parallel market if all transactions are restricted to the electronic platform of the Central Bank of Iraq."

The exchange rate of the dollar against the Iraqi dinar witnessed a noticeable increase during the past few days, as the selling price reached 150 thousand for every 100 dollars. LINK

Al-Sudani's Financial Advisor Reveals The Reason For The Continued Rise Of The Dollar And Confirms: Short-Term

Posted On 2024-07-04 By Sotaliraq The financial advisor to the Prime Minister, Mazhar Mohammed Salih, revealed on Wednesday the reason for the continued rise in the dollar exchange rate in local markets, while stressing that this rise is short-term and does not constitute any relative importance in affecting the stability of the general price level.

Saleh said that “despite the fluctuations in the parallel or irregular exchange market, whose short-term fluctuations are the result of noise from colored or confusing information originating from international or regional circ*mstances, or the issuance of some regulatory instructions adapted to foreign currency, which some speculators are trying to exploit to generate a trend of fateful profits in the exchange market, it can be said that the fixed exchange rate system in Iraq is still based on a strong foundation consisting of the country’s international reserves.”

Noting that “it is the highest in Iraq’s history through the management of its foreign reserves, resulting from a surplus in the current account of the balance of payments at a significant rate that may reach (positive 7% of the country’s gross domestic product).” Indicating that “foreign currency covers a percentage of more than 130% of the total currency currently in circulation.”

Saleh added, “Given the strength of the official central exchange rate and its role in financing nearly 90% of the private sector’s foreign transfer transactions, excluding the government sector, the dollar-to-dinar exchange rate in the parallel market does not represent any relative importance in its fluctuations in influencing the stability of the general price level, which has become static in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1,320 dinars per dollar.”

He stressed that “this lack of influence is embodied in the state of relative stability of prices of goods and services to a large extent, as the average annual inflation in our country does not exceed 3%.”

He continued, “Based on the above, and in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds $100 billion, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods, due to urgent international or regional political events here and there, or in adapting some of the instructions regulating the monetary market, as we noted above.”

He added, "After the decline of the dollarization phenomenon in domestic transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition, the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets, and at a rate of 10% of the total supply and demand transactions for the currency."

He stressed that “the stability of the dinar to dollar exchange rate that the country is witnessing even in the secondary markets above is a real and solid stability, and is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country, and containing inflationary expectations that were caused by the parallel exchange market forces during the past years.”

He added in his statement that “the irregular secondary market, due to the freedom of external transfer, falls under the influence of the official exchange market rate, whose operations are constantly expanding in favor of dealing at the fixed official exchange rate.”

The dollar price recorded a rise today, Wednesday, with the closing of the Al-Kifah and Al-Harithiya stock exchanges, reaching 149,000 dinars for every 100 dollars, as the price recorded this morning 148,500 dinars. LINK

Provoking Thoughts and Points To Ponder On Adversity:

By becoming more unhappy, we sometimes learn how to be less so.-Madame Swetchine

Every experience, however bitter, has its lesson, and to focus one's attention on the lesson helps one overcome the bitterness.-Edward Howard Griggs

A good scare is worth more to a man than good advice.-Edgar Watson Howe

It is from the level of calamities ... that we learn impressive and useful lessons.-William Makepeace Thackeray

When I have listened to my mistakes, I have grown.-Hugh Prather

We only think when we are confronted with a problem.-John Dewey

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

IQD Updates - Iraqi Dinar - Relations w / Baghdad & Kurdistan - Good - Financial - Economic Reforms

MilitiaMan and Crew: 7-3-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=J7WbmoX6NMI

IQD Update Part 2 -Iraqi Dinar -

MilitiaMan and Crew: 7-3-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=ID9wXBUbKNU

World Bank: Iraq Maintained Its Status Within The Upper Middle-Income Category

Wednesday 03 July 2024 | Economic Number of readings: 204 Baghdad / NINA / The World Bank Group announced today, Wednesday, that Iraq has maintained its level within the upper segment of middle-income countries.

According to the bank's report for July of the current year 2024, "Iraq has maintained its level within this segment since 2012."

The bank added that it classifies the world's economies into four income groups: low-income countries, lower-middle-income countries, upper-middle-income countries, and high-income countries, based on the per capita share of gross national income. The measures of gross national income are expressed in US dollars. It pointed out hat "all the countries of the Arabian Gulf fall within the upper high-income segment. The bank indicated that "this year, three countries - Bulgaria and Belarus - moved from the upper-middle-income category to the high-income category."

Algeria, Iran, Mongolia, and Ukraine moved this year from the lower-middle-income category to the upper-middle-income category. / https://ninanews.com/Website/News/Details?key=1139505

Securities Commission: The Government Has Successfully Completed The Sale Of Financial Bonds

Market Economy News – Baghdad The Securities Commission confirmed on Wednesday that the government had successfully completed the sale of financial bonds, while indicating that many foreign investors had purchased those bonds.

The head of the authority, Faisal Al-Haimus, said: “The government has successfully completed the sale of financial bonds,” indicating that “all financial bonds that were sold were subscribed to, and this reflects the strength and stability of the State of Iraq.”

He pointed out that "there are many foreign investors who bought financial bonds, and this reflects the stability of the Iraqi state."

Government bonds are a type of debt-based investment where you lend money to a government in exchange for an agreed-upon interest rate. Governments use them to raise money that can be spent on infrastructure or new projects, and investors can use them to earn set returns that are paid at regular intervals.172 views 07/03/2024 - https://economy-news.net/content.php?id=44856

Today.. The Central Bank Sells Only About 15 Million Dollars Domestically

Economy | - 03/07/2024 Baghdad - Mawazine News The Central Bank of Iraq revealed, on Wednesday, its sales of US dollars to banks inside Iraq.

The bank's data showed that the total internal cash withdrawals amounted to $14,775,300, covered by a basic exchange rate of 1310 dinars per dollar.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to $260 million, 135 thousand, and 797 dollars, an increase of 94% over cash sales of $14 million, 775 thousand, and 300 dollars. https://www.mawazin.net/Details.aspx?jimare=250701

Al-Hakim: Iraq's Oil Rentier Economy Is A "Major Challenge"

Wednesday 03 July 2024 Politics Number of readings: 193 Baghdad / NINA / The head of the National State Forces Alliance, Ammar al-Hakim, considered the rentier oil economy in Iraq a "major challenge."

Al-Hakim said during his hosting at the Baghdad Forum for Young Leaders, which was held by the Ishtar Foundation, that "the rentier economy is a major challenge and oil prices will not last long, especially if the influences that led to the rise in prices are removed."

He added: "To help break the rentier economy equation and move to the five-point agriculture, industry, tourism, investment and technology, and that all these titles are capable of opening a window of work for young people and transforming them into an effective and productive segment."

He pointed out that "Al-Sudani succeeded in his performance, which was positively reflected on the forces supporting and enabling him, and that the focus was on popular satisfaction with the government, while there is another popular satisfaction with the political forces, as evidenced by the results of the recent elections," indicating: "

Al-Sudani's success in his previous tasks is what prompted the Coordination Framework to empower him in the prime minister's office and assign him to manage the government."

Al-Hakim pointed out that "youth are a vital pillar in our Iraqi reality, given their numbers and proportions in society, which requires care and empowerment for them, taking into account requirements, developments, technology, information technology, and the like."

He continued: "Youth face major intellectual and social challenges, the first of which is drugs," calling for empowerment that is commensurate with the capabilities of youth, trust in Iraqi youth, and attention to their successful experiences." / https://ninanews.com/Website/News/Details?key=1139566

Oil Prices Fall To $85 Per Barrel

Economy | 03/07/2024 Baghdad – Mawazine News Oil prices rose in early Asian trading on Wednesday after industry data showed a larger-than-expected draw in U.S. crude inventories, boosting hopes for strong fuel demand during the summer driving season in the world’s top oil consumer.

Brent crude futures rose 16 cents, or 0.2 percent, to $85.60 a barrel by 00:33 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 14 cents, or 0.2 percent, to $82.95 a barrel.

Crude prices closed lower on Tuesday as concerns faded that Hurricane Beryl could disrupt production in the Gulf of Mexico.

U.S. crude inventories fell by 9.163 million barrels in the week to June 28, according to market sources citing figures from the American Petroleum Institute on Tuesday. However, gasoline stocks rose by 2.468 million barrels, and distillates fell by 740,000 barrels.

Gasoline demand in the United States is expected to rise as the summer travel season picks up with the Independence Day holiday this week.

OPEC oil output rose in June for a second straight month, a Reuters survey showed on Tuesday, as higher supplies from Nigeria and Iran offset voluntary supply cuts by other members and the broader OPEC+ alliance. https://www.mawazin.net/Details.aspx?jimare=250677

A List Of Dollar Prices In The Markets Now

Economy | 03/07/2024 Baghdad - Mawazine News The exchange rates of the US dollar against the Iraqi dinar in the markets witnessed a slight increase on Wednesday evening. The list is as follows:

Baghdad Selling prices: 148,500 Buying prices: 147,000

Erbil Selling prices: 148,000 Buying prices: 146,500

Basra Selling prices: 147,000 Buying prices: 146,000

https://www.mawazin.net/Details.aspx?jimare=250714

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

By becoming more unhappy, we sometimes learn how to be less so.-Madame Swetchine

Every experience, however bitter, has its lesson, and to focus one's attention on the lesson helps one overcome the bitterness.-Edward Howard Griggs

A good scare is worth more to a man than good advice.-Edgar Watson Howe

It is from the level of calamities ... that we learn impressive and useful lessons.-William Makepeace Thackeray

When I have listened to my mistakes, I have grown.-Hugh Prather

We only think when we are confronted with a problem.-John Dewey

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

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KTFA:

Clare: IT WAS REPORTED ON IRAQI TV BY EDDIE, THAT IRAQ WILL BE FULL MEMBERS OF THE WTO JULY 18TH IMO

FROM WTO WEBSITE:

During the visit to Baghdad, the Chair was informed that Iraq's initial market access offers on goods and services would be circulated soon, in preparation for holding the 3rd meeting of the Working Party in the middle of 2024.

The team in the Ministry of Trade will “take real steps that will shorten the path to Iraq's accession to the World Trade Organization and ultimately benefit from the advantages offered by this accession,” indicated Minister Al Ghurairi.

THU 18 JUL 10:00

Working Party on the Accession of Iraq

Clare: Central Bank urges reporting of corruption cases

July 03, 2024

The Central Bank of Iraq encourages witnesses, experts and whistleblowers to report corruption cases, in accordance with Article (9/Second) of the Law on the Protection of Witnesses, Experts, Informants and Victims No. (58) of 2017 regarding rewarding informants on corruption cases.

This bank indicates that the informant is rewarded for reporting corruption cases if it leads to their disclosure, within the basis of the reward and its amount in a system issued by the Council of Ministers.

Central Bank of Iraq
Media Office
3 - July - 2024

https://cbi.iq/news/view/2610

************

Clare: World Bank: Iraq maintains its status within the upper middle-income category

7/3/2024

The World Bank Group announced on Wednesday that Iraq has maintained its status within the upper middle-income category.

According to the bank's report for July of the current year 2024, which Shafak News Agency reviewed, "Iraq has maintained its level within this category since 2012."

The bank added that it classifies the world's economies into four income groups: low-income countries, lower-middle-income countries, upper-middle-income countries, and high-income countries, based on per capita gross national income. The measures of gross national income are expressed in US dollars.

She pointed out that "all the Gulf countries are within the upper high-income category. The bank stated that "this year, three countries - Bulgaria and Belarus - moved from the upper middle-income category to the high-income category."

Algeria, Iran, Mongolia and Ukraine moved from lower-middle-income to upper-middle-income countries this year. LINK

************

Clare: Securities Commission: The government has successfully completed the sale of financial bonds

7/3/2024

Baghdad

The Securities Commission confirmed on Wednesday that the government had successfully completed the sale of financial bonds, while indicating that many foreign investors had purchased those bonds.

The head of the authority, Faisal Al-Haimus, said: “The government has successfully completed the sale of financial bonds,” indicating that “all financial bonds that were sold were subscribed to, and this reflects the strength and stability of the State of Iraq.”

He pointed out that "there are many foreign investors who bought financial bonds, and this reflects the stability of the Iraqi state."

Government bonds are a type of debt-based investment where you lend money to a government in exchange for an agreed-upon interest rate. Governments use them to raise money that can be spent on infrastructure or new projects, and investors can use them to earn set returns that are paid at regular intervals. LINK

Clare: Despite the rise in the dollar, Saleh: The parallel market today is not important

7/3/2024

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed the stability of the dollar exchange rate against the dinar, despite its significant rise today, reaching 1,500 dinars.

Saleh told Al Furat News Agency, "The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued." He added,

Saleh continued, "Based on the above, and in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds $100 billion, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods due to urgent international or regional political events here and there or in adapting some instructions regulating the monetary market.

Stressing that after the decline of the dollarization phenomenon in internal transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition."

He stressed that "the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets and at a rate of 10% of the total supply and demand transactions for the currency."

He stressed that "the stability of the exchange rate of the dinar to the dollar that the country is witnessing even in the secondary markets above is a real and solid stability, and is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country and containing inflationary expectations that were caused by the parallel exchange market forces during the past years."

He noted that "the irregular secondary market, due to the freedom of external transfer, is affected by the official exchange market rate, whose operations are constantly expanding in favor of dealing with the fixed official exchange rate."

Raghad