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More than $801 million in sales from the Central Bank of Iraq in a week 2023-10-14 05:56 Shafaq News/ The Central Bank of Iraq’s total sales of hard currency to the US dollar during the past week amounted to more than 801 million dollars. Shafaq News Agency correspondent stated that the Central Bank sold during the past week and for the five days in which the auction was opened, 801 million 133 thousand and 899 dollars, at a daily rate of 160 million 226 thousand and 899 dollars, higher than what it recorded last week, which amounted to 775 million 219 thousand. And $316. The highest dollar sales were on Thursday, when sales amounted to 208 million, 387 thousand and 458 dollars, while the lowest sales were on Sunday, when sales amounted to 195 million, 502 thousand and 595 dollars. Our correspondent indicated that foreign remittance sales during the past week amounted to 854 million, 800,397 dollars, an increase of 83% compared to cash sales, which amounted to 141 million, 640 thousand dollars. Mrasna explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of the amounts of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of the amounts of transfers abroad and the cash selling price reached 1,310 dinars per dollar.

Dollar prices stabilized in Baghdad and rose slightly in Erbil 2023-10-14 03:22 Shafaq News/ Dollar prices stabilized today, Saturday, in Baghdad markets, while they rose slightly in Erbil, the capital of the Kurdistan Region. Shafaq News correspondent said that dollar prices stabilized with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 160,400 dinars against 100 dollars, which are the same prices as last Thursday. Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad stabilized, as the selling price reached 161,500 Iraqi dinars, while the purchasing price reached 159,500 dinars for every 100 dollars. As for Erbil, the stock market does not trade on official holidays, but the dollar recorded in banking shops is the selling price of 160,600 dinars against the dollar, and the purchase price of 160,300 dinars against 100 dollars.

Al-Sudani: The customs automation project is an important starting point for implementing financial and banking reforms Time: 2023/10/14 12:38:22 Read: 1,014 times {Politics: Al-Furat News} Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday, that the customs automation project is an important basis and starting point for implementing financial and banking reforms. Al-Sudani’s office stated in a statement received by {Al-Furat News} that “The Prime Minister reviewed a detailed report explaining the progress of work in implementing the first phase of implementing the global system for automating and modernizing customs (ASYCUDA), and highlighted the most prominent problems and challenges and ways to overcome them, leading to the implementation of the single window for foreign trade, Through a comprehensive application of information technology, it contributes to unifying customs procedures, issuing electronic declarations and exchanging data.” The Prime Minister directed “to implement all financial obligations to complete the requirements of the first phase, and to provide the infrastructure necessary for the success of the project,” instructing “to implement technical workshops to introduce this important project, which will support the government’s efforts to develop economic structures in accordance with the foundations of integrity and transparency.” The Prime Minister stressed that “the customs automation project is one of the most important axes of economic reform that the government has adopted as part of the priorities of its government program, and it is an important basis and starting point for implementing financial and banking reforms, in accordance with the government’s vision and approach to implementing real trade and combating corruption.”

The President of the Republic stresses to the Kuwaiti Ambassador the importance of strengthening relations between the two countries and expanding horizons of cooperation Time: 2023/10/14 13:40:22 Read: 364 times {Politics: Al-Furat News} The President of the Republic, Abdul Latif Jamal Rashid, confirmed today, Saturday, to the Ambassador of the State of Kuwait, Tariq Abdullah Al-Faraj, the expansion of the horizons of bilateral cooperation between the two countries. In a statement received by {Al-Furat News}, the Office of the President of the Republic stressed "the importance of strengthening relations between the two countries and expanding the horizons of bilateral cooperation in a way that achieves the highest interests of the two brotherly peoples," noting "the necessity of coordination, cooperation, and continuing constructive dialogue on issues of common interest." In turn, the Kuwaiti ambassador expressed his "thanks and appreciation to the President of the Republic for his interest in strengthening and developing bilateral relations," stressing "his country's keenness on continuing bilateral cooperation in the service of the security, stability, and well-being of the two countries and the region."

Integrity: (34) arrest and summons orders were issued against senior officials during the month of September Time: 10/14/2023 11:29:42 Read: 858 times {Local: Al-Furat News} The Federal Integrity Commission announced today, Saturday, the total number of arrest and recruitment orders issued and executed during the month of last September against senior officials and those with high ranks. The Commission’s Investigation Department confirmed in a statement received by {Al-Furat News} that “the judicial authorities issued (34) arrest and summons orders in cases that were investigated by the Commission’s investigation directorates and offices in Baghdad and the governorates, and referred them to the judiciary.” She pointed out that “the orders issued against (32) senior officials with high ranks for the period from (9/1 – 9/30) were divided between (30) recruitment orders and (4) arrest orders.” She explained that "the orders included a former member of the House of Representatives, (3) former ministers, in addition to a current governor and two former governors, in addition to (11) current general directors, (11) former general directors, (2) former ones, and a council member." Former governorate.

Al-Rafidain announces the imminent launch of electronic reservations to sell dollars to travelers Time: 10/13/2023 21:48:19 Read: 2,626 times {Economic: Al-Furat News} The Rafidain Bank announced the imminent launch of electronic reservation for selling dollars to travelers. The bank said in a statement, a copy of which was received by {Al-Furat News}, that the bank's action "is in compliance with government directives and the instructions of the Central Bank of Iraq in facilitating the procedures for obtaining the dollar for travelers easily and smoothly." The bank indicated that, “during the coming days of this month (October), it will begin approving electronic reservations by filling out the reservation form via the electronic registration link published on the bank’s website.” The bank explained, "The customer will visit the designated branch for the purpose of completing the requirements for granting the dollar directly in accordance with the applicable controls issued by the Central Bank of Iraq."

Stability of dollar prices against the Iraqi dinar in Baghdad markets Time: 2023/10/14 10:28:47 Read: 1,989 times {Economic: Al-Furat News} Dollar prices stabilized, today, Saturday, in Baghdad markets. The prices were as follows. The selling price was 161,500 Iraqi dinars, while the purchase amounted to 159,500 dinars per 100 dollars.

Nearly a billion dollars in sales from the Central Bank of Iraq within a week Today, 11:06 Al-Ghad Press/Baghdad The Central Bank of Iraq's total sales of US dollars during the past week amounted to more than 996 million dollars . The highest dollar sales last week were on Thursday, when sales amounted to 208 million, 387 thousand and 458 dollars . Wednesday recorded the lowest one-day sales last week, at $192,404,115 . The selling price of documentary credits, international settlements for electronic cards, and the selling price of transfers abroad reached (1,310) dinars per dollar, while the cash selling price reached (1,305) dinars per dollar .

Al-Sudani: The customs automation project is a starting point for implementing financial and banking reforms Today, 12:39 Al-Ghad Press/Baghdad On Saturday, Prime Minister Muhammad Shiaa Al-Sudani directed the implementation of all financial obligations to complete the requirements of the first phase of customs automation and networking, considering the project a starting point for implementing financial and banking reforms . A statement from Al-Sudani’s office received by Al-Ghad Press said, “Prime Minister Muhammad Shia’ Al-Sudani chaired, this Saturday morning, a meeting devoted to following up on the steps to automate customs and networking, in the presence of representatives of the United Nations Conference on Trade and Development (UNCTAD). ” The statement added that Al-Sudani “reviewed a detailed report explaining the progress of work in implementing the first phase of implementing the global system for automating and modernizing customs (ASYCUDA), and highlighted the most prominent problems and challenges and ways to overcome them, leading to the implementation of the single window for foreign trade, through a comprehensive application of information technology, which contributes to Unifying customs procedures, issuing electronic declarations and exchanging data .” Al-Sudani directed, according to the statement, “the implementation of all financial obligations to complete the requirements of the first phase, and the provision of the infrastructure necessary for the success of the project,” and he also instructed “the implementation of technical workshops to introduce this important project, which will support the government’s efforts in developing economic structures according to the foundations of integrity and transparency. ” . Al-Sudani stressed that “the customs automation project is one of the most important axes of economic reform that the government has adopted as part of the priorities of its government program, and it is an important basis and starting point for implementing financial and banking reforms, in accordance with the government’s vision and approach to implementing real trade and combating corruption. ”

The President of the Republic stresses to the Kuwaiti Ambassador the necessity of coordination, cooperation, and continuing “constructive” dialogue. Today, 13:48 Al-Ghad Press/Baghdad On Saturday, President Abdul Latif Rashid stressed the need for coordination, cooperation, and continuing the “constructive” dialogue between Iraq and Kuwait on issues of common concern . The Presidency of the Republic stated in a statement received by Al-Ghad Press that “President of the Republic, Abdul Latif Jamal Rashid, received today, Saturday, in Baghdad, the Ambassador of the State of Kuwait, Tariq Abdullah Al-Faraj. ” Rashid stressed, "the importance of strengthening relations between the two countries and expanding the horizons of bilateral cooperation in a way that achieves the highest interests of the two brotherly peoples," noting "the necessity of coordination, cooperation, and continuing constructive dialogue on issues of common interest. " In turn, the Kuwaiti ambassador stressed "his country's keenness on continuing bilateral cooperation in the service of the security, stability and well-being of the two countries and the region ."

POSTED ON 2023-10-13 BY SOTALIRAQ An economic expert explains the importance of linking Iraq to the Gulf Electricity Market Authority platform The Iraqi economic expert, Omar Al-Halbousi, said that Iraq’s electrical connection with the Arab Gulf countries is an important step to get rid of the electricity crisis that Iraq is experiencing. The economic expert explained that the step to link Iraq to the Gulf electrical market platform comes to solve the Iraqi crisis and contribute to increasing the hours of electricity supply to citizens, in addition to the fact that the supply prices are better than Iranian electricity prices and there are no problems hindering the implementation of financial obligations. He added that this connection came at the right time, as “the electricity crisis that Iraq has been suffering from for years, especially in the summer, places great burdens on the Iraqi citizen in light of the lack of a national electricity system, and to get rid of dependence on Iranian electricity that is sold at high prices to Iraq, as well as “For not fulfilling obligations to Iraq, which is costing Iraq huge losses,” he said. Al-Halbousi pointed out that “Iraq is being subjected to blackmail through electricity, through which Iran is pressuring Iraq in order to mediate with the American side in order to allow the release of parts of the financial amounts in dollars to Iran, which has made Iraq a victim of the American-Iranian conflict,” he said. . Al-Halbousi stressed, “The Iraqi government must exploit the resources that Iraq possesses in order to establish national electricity, and Iraq has all the capabilities to achieve self-sufficiency and even export, but what is lacking from the Iraqi government is the will and hard work to establish a national electricity system that will save Iraq the costs.” He pays for importing electricity from neighboring countries.” Last Tuesday, the platform for the project linking the Gulf electricity market to Iraq was launched, which Baghdad is counting on to solve its worsening electricity crisis, especially in the summer.

POSTED ON 2023-10-14 BY SOTALIRAQ Details of the final moments of the deal to release 5 American prisoners in Iran Zainab Makki After years of painstaking negotiations with Iran, and with the mediation of the Arab Gulf states, senior aides to US President Joe Biden reached an agreement on June 6 that would release 4 Americans detained in one of the worst Iranian prisons. In return, the United States lifts the freeze on $6 billion. Dollars from Iranian oil revenues and charges against Iranians accused of violating US sanctions are dropped. According to a report published by the New York Times, the American negotiators knew that there could still be obstacles at the last minute, but things were moving forward, and indeed the prison guards in Tehran gathered the Americans and took them to an office and asked them to pack their bags. Their release was imminent, they told them “they should be ready to return home within 3 days.” But White House officials were about to receive some bad news when, just one day after the agreement was reached, they learned from the FBI that Iran had detained another American citizen, a retired woman from California who was doing relief work in Afghanistan. It was not clear then, and even now, whether the woman's detention was a strategic decision or whether she was simply caught up in Iran's security net, a situation in which the country's left hand does not know what its right hand is doing. Either way, US officials were enthusiastic, but there was no way Biden could sign a deal that would leave that woman behind. She had to be released, too. Indeed, the deal collapsed, and the prisoners, who expected to return home any day, were frustrated. They expected that it would be several more weeks before American officials, still working in secret, got the talks back on track, with the help of diplomats in Oman, Qatar and the United Arab Emirates. When Biden finally announced last Monday that Americans - including the newly arrested woman - were on their way home, it was the culmination of years of delicate negotiations that focused not only on the release of prisoners, but also on efforts to deprive Fuse tensions with Iran and confront what the United States sees as Tehran's destabilizing activities across the Middle East. “When all the pieces finally fall into place, there is a collective sigh of relief,” said the president’s national security adviser, Jake Sullivan, “but until that moment we are all holding our breath. We do not want the terrible ordeal these Americans are enduring to last one day longer than it has to.” “. Throughout this period, officials in the United States, Iran, and Qatar were telling the story of those negotiations. Relatives and lawyers of some of the prisoners, and representatives of other organizations familiar with the talks, spoke on condition of anonymity to discuss the secret talks about the prisoners. The result, they said, is proof that even fierce adversaries can sometimes find their way to an agreement. Nuclear talks stopped Work to bring Americans home began in early 2021, just weeks after Biden took office. Siamak Namazi, Imad Sharqi, and Murad Tahbaz were imprisoned on baseless espionage charges and held in Evin Prison, which was notorious for torture accusations and a symbol of the regime’s authoritarian approach to justice. Biden and his advisers were determined to get them out one way or another, and for months, Secretary of State Antony Blinken carried the names of those detained in his pocket. First, the United States and Iran needed to find ways to talk about broader issues. Throughout 2021 and the first half of 2022, Washington and Tehran hoped they could revive the Obama-era nuclear deal, which limited Iran's nuclear program in exchange for sanctions relief. Former President Donald Trump has abandoned the deal. Now, American and Iranian officials have engaged in indirect talks in Vienna, and on a separate track, the Biden administration has pushed for a way to release imprisoned Americans. But by August last year, those talks had completely collapsed, as Iran was making demands about its nuclear program that the United States could not accept, and was rapidly increasing uranium enrichment to 20%, then 60%, and stockpiling beyond the levels approved in the Obama deal that It no longer exists now. Senior Iranian officials sided with Russia in its invasion of Ukraine, and reports have emerged of Iranian drones being sold to Russia and being used to target civilians. Behind the scenes, discussions about releasing imprisoned Americans have become entangled with the broader nuclear agreement, known as the Joint Comprehensive Plan of Action. For negotiators on both sides, it seemed clear that the United States would not agree to a costly deal for prisoners when nuclear negotiations collapsed. Independent deal “Throughout 2021 and most of 2022, the United States appeared to prefer to package the detainees’ deal in restoring the JCPOA,” said Iranian official at the International Crisis Group, Ali Vaez, who was familiar with the negotiations on both the American and Iranian sides. “It was only late last year, when it closed The window to nuclear diplomacy, a stand-alone deal for the detainees was considered.” Iran wanted to be able to access $6 billion in oil revenue that was sitting in accounts in South Korea, which could hardly be used due to currency issues, and Iranian negotiators demanded that the money be moved in a way they could use it. The United States had been insisting that the money should be placed in restricted accounts, with controls that would make it impossible to use it for anything other than food, medicine, medical devices or agriculture, but the Iranians rejected the proposal outright. A month later, in mid-September, nationwide protests erupted across Iran following the death of Mahsa Amini in the custody of the Morality Police. The Iranian government responded with brutal force, and scenes of young men being shot, killed, beaten and arrested dominated newspaper headlines around Iran. Iranian forces have intensified their attacks on American forces in Syria, and many in the Iranian American diaspora have organized protests in cities across the United States and pressured Washington to end all negotiations with Iran and support Iranians fighting for democratic change. By this time, Iran had arrested a fourth American, a businessman and scientist whose identity has been withheld, and the Biden administration continued to press for their release. Robert Malley, who served as Iran's envoy to the United States, met several times with Iran's ambassador to the United Nations, Amir Saeed Iravani. These were the only major face-to-face discussions between the United States and Iran about prisoners, but they did not result in a breakthrough, and Iravani did not respond. ” to questions from The New York Times about the talks. Families of detainees Families of American detainees and their lawyers have publicly pressured Biden to put aside politics and bring their loved ones home. Namazi, a 51-year-old businessman, gave an interview to CNN in March from Evin prison in which he said that successive American presidents had left him behind to rot in an Iranian cell, and he asked for help. “I was a hostage for 7 and a half years, 6 times as long as the hostage crisis,” Namazi told CNN, referring to the Americans who were taken hostage in Iran during the 1979 revolution and held for 444 days. By this spring, agreement on anything that involved concessions to Iran seemed a million miles away. Resumption of shuttle diplomacy American diplomats arrived in Oman in May with a heavy dose of skepticism, and Iran had sent word, through intermediaries, that Tehran wanted to reduce tensions. Just weeks ago, Biden ordered American fighter jets to attack an ammunition depot in eastern Syria linked to Iranian intelligence services, and his administration believes that the attack, a direct response to Iran’s complicity in the first death of an another site in Syria in years, has shaken the Iranians, but American officials - including Brett McGurk, a veteran Middle East diplomat - were skeptical about Iran's seriousness. McGurk and his American team gathered in one room in a hotel in Muscat, the capital of Oman, and the Iranian delegation, headed by Deputy Foreign Minister Ali Bagheri Kani, met in another delegation. For hours, the Omani mediators moved back and forth between the two groups, who could see each other through the windows. . The message from McGurk was simple: “If Iran wants to reduce tensions, and perhaps even resume discussions about the country’s nuclear program, it should stop attacking American forces.” Through the windows, McGurk could see the Iranians arguing, an indication that there was hardly a consensus, but the messages returned by the Omani mediators contained a surprise. The Iranians wanted concessions on easing sanctions on oil sales, but were willing to consider US demands for an exchange that would release imprisoned Americans. Within weeks, further talks were arranged in neighboring Gulf state Qatar, which had been trying for years to help broker the release of the Americans. “Iran decided that if the nuclear agreement with the United States was not sustainable, it had to solve its smaller problems such as exchanging prisoners and reducing tensions in the region,” said Ghaith Gharishi, a political analyst in Iran who advised its Foreign Ministry. He added, “The approach is that if we eventually untie some of the knots, it could lead to greater openness, easing of sanctions, reaching a nuclear agreement, and the like.” On June 6, while the Qataris were acting as mediators in Doha, American and Iranian officials reached a written agreement: The Americans would be released, and the United States would allow Iran to purchase humanitarian goods using $6 billion of its profits from oil sales that were stuck in banks in South Korea. The United States will also drop charges against 5 Iranians accused of violating US sanctions. For McGurk and others in the White House and at the State Department, the flurry of diplomacy in Oman and Qatar this spring was a moment of hope, perhaps a chance to bring Americans home after all. Another delay But the arrest of the fifth American, a woman from California who was carrying out relief work in Afghanistan, upended any hopes for a quick solution. For several weeks, McGurk and others in the United States tried to revive the agreement they signed on June 6, and working through mediators again, American officials made it clear that the only way to move forward with the deal was to release it as well. It took some time to “unpack” the situation, one American official recalled, but once the Iranians agreed to the demand to release the five prisoners, negotiations reached a turning point. In early August, after a visit by Qatari Minister of State Mohammed Al-Khulaifi to Tehran, the two sides reached a final agreement setting the terms, including the exchange of prisoners and a money transfer mechanism. There were also conditions that the funds would be kept in Qatar and paid directly to vendors when Iran wanted to make humanitarian purchases of food, medicine and medical equipment. On August 10, all prisoners were transferred to a hotel in northern Tehran and placed under house arrest awaiting the full transfer of funds. Finally, on Monday, the Swiss ambassador in Tehran - known as the “protecting force in Iran” for the United States, which has no diplomatic presence there - led two other American citizens to the airport. Iran had agreed to allow Namazi’s mother, Effie, and Morad Tahbaz’s wife, Vida, to leave on the same plane with their relatives. At the hotel where they were under house arrest, the five American prisoners were also prepared to leave for the airport, where a plane provided by the Qatari government waited to take them to Doha for a Cold War-style exchange on the tarmac and then return home. But there was another delay, as officials in Iran claimed that not all of the money had reached the bank account in Qatar, and that they would not allow the Americans to leave, and for more than two hours, everyone waited. In New York, where the president and his aides arrived for the upcoming United Nations General Assembly, national security officials were waiting impatiently, and when Iranian officials confirmed they were satisfied that the money had arrived, the Americans took a 40-minute drive to Tehran airport. At 5:30 a.m. Tuesday, after a brief stop in Doha, the Americans exited the plane at a military base in northern Virginia, free for the first time since their imprisonment. Two hours later, Sullivan, the president's national security adviser, posted a photo of Americans gathered on the small government plane, and alongside an emoji of the American flag, he wrote: “Welcome home.”

POSTED ON 2023-10-14 BY SOTALIRAQ An official reveals details of Macron's upcoming visit to Baghdad and Kurdistan Ali Dolmari, representative of the Kurdistan Regional Government in France, revealed details of an upcoming visit by the French President to the Iraqi capital, Baghdad, and the Kurdistan Region. Dolmery said, “The French President is expected to visit Baghdad and the Kurdistan Region without specifying the time. The visit comes due to the good relations enjoyed by the regional government and the political parties in France, as well as the importance of the security of the region and Iraq to the security and stability of Europe.” An informed government source had previously revealed an expected visit by French President Emmanuel Macron to participate in the third Baghdad conference. The source explained, “Until the moment, there is no specific date for the third edition of the Baghdad Conference to be held, and this conference is threatened with not being held due to the Gulf position on Iraq after the decision of the Federal Supreme Court regarding the Khor Abdullah Agreement.” On September 4, the Federal Supreme Court (the highest judicial authority in Iraq) ruled that the law ratifying the maritime navigation agreement in Khor Abdullah with Kuwait was unconstitutional.

The dollar will be reduced in Iraq.. A new government project related to trade with 3 countries was revealed 19 hours ago 960 The State of Law coalition revealed a new government project related to trade exchange between Iraq and three countries, while clarifying America’s position on that, and its impact on the dollar. The leader of the coalition, Jassim Muhammad, said in a press interview seen by “Taqaddam” that “there is a new government project to adopt currencies other than the dollar to deal with several countries, including China, Iran and Russia,” stressing that “this project, if implemented correctly, will work to reduce the demand for the dollar.” In Iraqi markets.” He added, “The project to create a currency for exchange between Iraq and these countries will greatly affect the dollar and will lead to a decline in its prices,” stressing that “the current rise in dollar exchange rates in Iraq will not be able to be reduced by any party, whether the central bank or others, as long as the demand for it is high.” . Regarding America’s position on the new project, Muhammad explained, “America has no relationship with this project, and it does not matter whether or not it agrees to the project to create a currency other than the dollar for Iraqi commercial transactions, provided that there is a will from Iraq and these countries.” The leader of Al-Maliki’s coalition stated, “Iraq is required to believe in this issue and adopt this project during the coming period, and the need to overcome the stage of fear and anxiety about the results.”

The Central Bank issues a decision to facilitate the mechanism for travelers to obtain dollars Economy Today, 00:27 Baghdad - INA Today, Thursday, the Central Bank of Iraq issued a decision facilitating the mechanism for travelers to obtain the dollar. It was stated in a document issued by the Deputy Governor, Ammar Hamad Khalaf, and addressed to the exchange companies of category (A), and a copy of it was obtained by the Iraqi News Agency (INA), that “this bank seeks to facilitate travelers’ access to the dollar currency through your companies and by opening offices.” At the airports of (Baghdad - Basra - Najaf - Erbil), companies wishing to open an office in one or more of the above airports, depending on the geographical area of the spread of their branches, must submit their applications to this bank, specifying the airport in which they wish to work.

The Central Bank calls for the opening of exchange offices in Iraq's airports The Central Bank building, which is still under construction in the Jadriya area in Baghdad Drains Economy News - Baghdad The Central Bank of Iraq called on Class A exchange companies to open offices in Iraqi airports in order to facilitate obtaining the dollar currency for travelers. Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, “The Central Bank directed the Class A exchange companies to facilitate travelers’ access to the dollar currency through their companies and by opening offices in the airports of (Baghdad - Basra - Najaf - Erbil).” Khalaf addressed companies wishing to open an office in one or more of the above airports, depending on the geographical area of the spread of their branches, by “submitting their applications to the Central Bank, specifying the airport in which they wish to work.” The Director General of the Investment Department at the Central Bank, Mazen Ahmed, said a few days ago, in an interview with Al-Iraqiya News Channel, that the Central Bank will open 5 branches of banking offices inside the airports of Baghdad, Najaf, and Basra in order to sell the dollar to travelers, indicating that Erbil Airport will be in the next stage. 283 views Added 10/13/2023 - 2:50 AM

The International Monetary Fund is pessimistic about the future of the Iraqi economy International Monetary Fund building money and business Economy News - Baghdad The International Monetary Fund confirmed that restrictions on foreign currency sales in Iraq have hindered growth in the gross domestic product. The Fund said in a report on regional economic developments and prospects, seen by Al-Iqtisad News, that “reductions in oil production are having repercussions on oil-exporting countries, as the growth of the gross oil domestic product has slowed following three rounds of sharp cuts in oil production under the OPEC + agreement.” October 2022, April 2023, and June 2023.” He added that the Gulf countries' non-oil GDP grew, thanks to the strength of the manufacturing industry and the recovery of the services sector, while in Iraq, restrictions on foreign currency sales hinder growth. Although the Iraqi Ministry of Planning announced that inflation reached 3.5%, the International Monetary Fund placed Iraq alongside Algeria, which has an inflation rate of more than 9%, and Iran at 30%. He said, “Inflation is still high in another group of oil exporters, which are Algeria, Iraq, and Iran,” referring to countries with currencies pegged to the US dollar, except for Iraq. Central banks followed in the footsteps of the Federal Reserve, which led to a rise in basic interest rates this year by 100 points. Average basis until August 2023. The International Monetary Fund noted that Iraq's primary non-oil balances declined due to the rise in public sector wages, in addition to the increase in the support rate. The Fund stated that this year, growth is expected to record a noticeable slowdown in oil-exporting countries, reaching 2%, stressing that growth in Iraq will decline due to the reduction in oil production and the impact of rationalizing the use of foreign currency in import-dependent sectors. He pointed out that in 2024, it is expected that the increase in the wage bill in Iraq will lead to a decline in the public financial position. 390 views Added 10/13/2023 - 2:36 AM

Seminar at the Mosul Families Council The Central Bank in Nineveh: We are subject to Washington’s sanctions and we are waiting for them to be lifted to open the dollar auction (video) 2023-10-12 | 21:47 Mosul 964 The Director of the Central Bank in Nineveh, Dr. Hussein Al-Zaidi, confirmed the imminent opening of an outlet to sell currency within the governorate, after it had stopped since 2014 and was subject to the restrictions of the US Federal Bank, during a symposium organized by the Mosul Families Council, which invited him to clarify monetary policy and exchange rates, in the presence of experts and academics. Dr. Hussein Al-Zaidi, Director of the Central Bank in Nineveh, told the 964 network: There are directives from the Governor of the Central Bank that there will be dealing in dollars in Nineveh soon, and we have made all preparations for this matter and the banks through which the dollar will be sold have been identified, and we are awaiting the final decision to start selling. During the recent meeting of the Governor of Nineveh, Najm al-Jubouri, with Prime Minister Muhammad Shia al-Sudani, in the presence of the Governor of the Central Bank, the issue of activating the dollar in Umm al-Rubaieen was discussed, and the Governor of the Bank directed this. We began preparations to sell the dollar in Mosul and chose 4 banks, 2 government and 2 private. We presented two proposals to the government: either open a main, direct outlet in Nineveh to distribute the dollar, or the bank takes the dollar from Baghdad and distributes it to the banks, but the electronic platform and the American side still say that Umm al-Rubaieen is unsafe, and we are awaiting a decision from the American Treasury to allow the circulation of the dollar within Nineveh. After ISIS occupied the city, a decision was taken to close all money exchange companies in Nineveh, which numbered 76 companies. Some of their owners were blacklisted by the US Federal Reserve, and some of them were on the list of freezing terrorist funds. Since the beginning of my assumption of the position of the bank in Nineveh, we have been able to reopen 35 of the closed companies, and we have 11 companies in Nineveh that are allowed to deal in dollars, but there is a decision from the bank not to allow them to enter the currency selling window until they merge with other companies to form a company of category A or B. The companies are classified into 3 classifications: A represents the merger of 10 companies together, B represents the merger of 5 companies, and C represents one company alone. Today, 10 companies have merged in Nineveh and will be classified as A. They will enter the currency sales window and will be allowed to sell to citizens at the official price. Since the beginning of the crisis of the rise in the dollar, the Central Bank has taken a package of measures aimed at restoring balance in the exchange rate and ending the gap between the official rate and the black market. All measures by the bank are progressive. The coming days will witness an end to the crisis. I respect the Iraqi dinar and advise relying on the dollar. Iraq represents a great economic power, but there is mismanagement of the country's economy. The electronic platform is the solution to restore dealing with the official price of the dollar, and a call for all trade to resort to the platform through the Central Bank to obtain the dollar at a price of 1320 and end the exaggerated demand on the black market. The measure of any country is embodied in the development of its banking industry, and we need society’s cooperation with us through citizens depositing their money into the banking system. If we want to achieve development in society, we need funding, and this must come from within the country and not from outside it. We have 70 banks in Iraq, and the government will take action starting in 2024 to reduce this number by merging any bank whose capital does not exceed 400 billion Iraqi dinars with another bank. The Central Bank gave the banks a large and long opportunity to address their situation, but they were unable to do so. They either merged with other banks or left the market. There are 20 banks in Baghdad that are allowed to sell dollars to citizens. There are also outlets in the airports of Baghdad, Erbil, Basra, and Najaf, and if Mosul airport opens, it will have a sales outlet. There are ongoing efforts and meetings by the Central Bank with the US Federal Reserve to facilitate obtaining the currency, but I do not know when it will be completely resolved. Dr. Khaled Hamed, economic expert, 964 Network: The Central Bank must rush to solve the currency crisis, which is worsening day after day, and it has many keys and monetary policies that curb this rise. If the current fluctuations in the exchange rate continue like this, it will rise further, not to mention the global economic problems that negatively affect oil prices and affect the Iraqi economy.

The Iraqi Central Bank directs exchange companies “A” to grant dollars to travelers (document) 2023-10-12 15:46 Shafaq News/ On Thursday, the Central Bank of Iraq issued a directive to Class A exchange companies regarding travelers obtaining dollar currency at four airports inside the country. Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, according to an official letter, a copy of which was obtained by Shafaq News Agency, that “the Central Bank directed the A-class exchange companies to facilitate travelers’ access to the dollar currency through their companies and by opening offices in (Baghdad) airports.” - Basra - Najaf - Erbil). Khalaf addressed companies wishing to open an office in one or more of the above airports, depending on the geographical area of the spread of their branches, by “submitting their applications to the Central Bank, specifying the airport in which they wish to work.” The Central Bank of Iraq decided, earlier today, Thursday, to suspend the “Western Union” international financial transfer service until further notice. The bank's governor, Ali Al-Alaq, had decided last September to limit internal commercial transactions to dinars instead of US dollars, with the exception of those delivered to travelers. It is noteworthy that the Central Bank recently adopted a new mechanism for auctioning foreign currency, in accordance with the requirements and conditions of the Federal Bank, in order to track the dollar and stop attempts to smuggle the currency abroad.

The Monetary Fund and the World Bank call for increasing anti-poverty financing l 2 hours ago Sky News Arabia - Abu Dhabi Ajay Banga and Kristalnia Georgieva On Friday, the President of the World Bank and the Director-General of the International Monetary Fund called for strengthening the financing capacity of the two international institutions to help poor countries combat poverty and climate change. The invitations from Ajay Banga and Kristalnia Georgieva came during the annual meetings of the two international financial institutions with the participation of finance ministers and central bank governors in Marrakesh, Morocco , which is the first time that these meetings have been held in an African country since 1973. "We are seeing progress slowing in our fight against poverty," Ajay Banga said in his first major speech since taking office last June. He added, "We are facing an existential climate crisis, food insecurity, and fragility, while the recovery from the pandemic is in its infancy, and we are all feeling the impact of conflicts that extend beyond the front lines." “The world faces a storm of intersecting challenges and geopolitical complexities that, taken together, exacerbate inequality,” Banga continued. Banga, an American of Indian descent, warned of a "growing crisis of confidence" between developing and developed countries. “The dissatisfaction of the countries of the South is understandable,” he said during a plenary session. “In many ways, they pay the price for the prosperity of others.” Banga has been pushing for a change in the World Bank since US President Joe Biden chose him to replace David Malpass, who stepped down before the end of his term after doubts about his position on climate change. Banga went on to say, "Today we have a new vision and mission at the World Bank based on achieving a world free of poverty on a livable planet. However, time is running out."

IMF official: Digitization contributes to enabling financial inclusion l 6 hours ago Sky News Arabia - Abu Dhabi /images/v1/2023/10/13/1661484/900/506/1-1661484.jpg MF: 2.7 billion people do not have access to technology Deputy Director General of the International Monetary Fund, Antoinette Sayeh, said that digitization is of great importance in enhancing financial inclusion in countries and improving the services provided to peoples, pointing to its advantages that emerged during the Corona pandemic, as countries were able to provide basic social services and provide cash transfers to the poorest people who... They were affected by the closures. Sayeh's statements came in a session on the sidelines of the meetings of the World Bank and the International Monetary Fund in Marrakesh, entitled “Digital currencies for central banks... Will they become the future of money?”, which was moderated by Lubna Bouza, editor-in-chief of economics at Sky News Arabia. Sayeh said that many countries are looking to catch up with digitization, in order to benefit from its advantages, but she pointed out the challenge of the large cost of this process, as about 2.7 billion people around the world do not have access to technology in the first place. “According to our estimates, the cost of digitalization infrastructure in low-income countries may reach 3.5 percent of GDP, which is a high percentage,” said the Deputy Director General of the International Monetary Fund. She indicated that it is important for countries to work on a set of axes until the infrastructure for the digitization process is completed, noting the necessity of working on structural reforms such as removing trade restrictions, investment in electricity, and strengthening governance, which will pave the way for them to provide digital services, and these are the matters that the IMF is discussing. With officials in countries, according to Sayeh.

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Briefing by SRSG Jeanine Hennis-Plasschaert at the UN Security Council meeting | 10 October 2023 UN Iraq 578 views Oct 10, 2023 Briefing (As Delivered) by the Special Representative of the United Nations Secretary-General for Iraq and Head of the United Nations Assistance Mission for Iraq (UNAMI), Ms. Jeanine Hennis-Plasschaert, at the 9432nd meeting of the United Nations Security Council on the situation concerning Iraq, held via video-teleconference from Baghdad on Tuesday, 10 October 2023.

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With the document...the Central Bank facilitates the mechanism for travelers to obtain dollars Time: 10/12/2023 23:54:53 Read: 6,318 times {Economic: Al-Furat News} The Central Bank of Iraq issued a decision facilitating the mechanism for travelers to obtain the dollar. It was stated in a document issued by Deputy Governor Ammar Hamad Khalaf and addressed to the exchange companies of category (A), a copy of which {Al-Furat News} obtained: “In an effort by this bank to facilitate travelers’ access to the dollar currency through your companies and by opening offices in airports ( Baghdad - Basra - Najaf - Erbil), companies wishing to open an office in one or more of the above airports, depending on the geographical area of the spread of their branches, must submit their applications to this bank, specifying the airport in which they wish to work.