Oil announces the transfer of a copy of the oil and gas law to the Council of Ministers for approval

[md11fr8dawg]

Hey Goat Humpers, if you are waiting on me in order to pull the trigger, you're backing up!!!

[horsesoldier]

Soon

[NEPatriotsFan1]

1 hour ago, DinarThug said:

 

SUDDEN ANNOUNCEMENT OF THE OIL AND GAS LAW

I’m suddenly getting a tingly feeling, with the new notes and the fact they said that they are pegging the Dinar for the next 4 years.... when have we ever known them to do what they say, and not the exact opposite?! 

[wealthhound]

1 minute ago, NEPatriotsFan1 said:

I’m suddenly getting a tingly feeling, with the new notes and the fact they said that they are pegging the Dinar for the next 4 years.... when have we ever known them to do what they say, and not the exact opposite?! 

No doubt several articles that will follow will refute this BUT we know the truth!

All depends on whether your favorite part of the 🎢 rollercoaster is at the top of it or at the bottom of it!! LOL WH

[Floridian]

2 hours ago, dinarham said:

  Iraq is issuing new bank notes ,allegedly "covid proof"  but it's getting the peeps ready for new notes . They have their  nod from the IMF and the World Bank , a better rating from Finch ,whatever, and  a straight out acknowledgment that they are going to change the rate against the USD , It's all good ,you crazy diamonds! 

 

Thanks, so much, Dinarham.

I'm trying to do so many things at once.  Too much for me to juggle.  😂

[GreedyDinar07]

I think they are going to swop the notes for face value and it has nothing to do with the lower demos. It doesn't make sense to do this but they always do things that doesn't make sense and continue with this ridiculous 1450 rate or raise it to 1300 until the end of the year. They will  hype things up like they do at the end of December promising a RV and we will feel all warm and fuzzy on the inside again hoping for a RV 1/1/2022. I hope I am wrong, Don't neg me guys it's just my opinion. 

[Floridian]

1 hour ago, DinarThug said:

 

 

Just Read The First Article By Bro 6ly At The Beginning Of This Thread - And The More Recent One In Adam’s Chat !  

 

     

 

 

Al-Jabri announces the date for the approval of a very important law and the transfer of THE OIL AND GAS LAW to the next session

 

 

 

 

03/21/2021 18:07:42

 

 

A member of the Parliamentary Oil and Energy Committee for the Alliance of Iraqis, Sattar Al-Jabri, announced, on Sunday, the date of the vote on the Iraqi National Oil Company law after its second reading by the House of Representatives.

 

Al-Jabri said {to Euphrates News} that "the Iraqi National Oil Company law that has been read {first and second} will be submitted for a vote after the approval of the federal budget law for 2021," describing it as "very important."

He added, "As for the OIL AND GAS LAW, 

the committee sent a letter to the oil ministers, asking him to speed up sending it to the Council of Ministers for the purpose of voting on it, then transferring it to the House of Representatives for preparation, maturation and passing it after the first and second reading."
 

Al-Jabri also referred to "the importance of the law prepared since 2007 in regulating oil revenues and revenues, which represents approximately 90% of the budget, and that in order to achieve justice in the distribution of wealth, this law, which has been delayed for years, must be approved." 

While he stressed, "the committee's keenness to complete this law and follow it up by the Ministry of Oil," noting that "the law has many disagreements and differences and needs a long time to complete it."

The Speaker of Parliament, Muhammad al-Halbousi, confirmed the existence of stalled laws that the parliament will proceed to legislate, such as the oil and gas law, which is one of the laws stipulated in the constitution, and which will address the mechanism of dealing between Baghdad and Erbil and between Baghdad and the rest of the oil-producing provinces, and the law will be one of the council's next priorities. 
 

For its part, the Ministry of Oil stressed on the 25th of last February the importance of expediting the passage of the Federal Oil and Gas Law, noting that the law will work to regulate the management of oil and gas wealth in Iraq.

It is noteworthy that the Oil Ministry’s 

SUDDEN ANNOUNCEMENT OF THE OIL AND GAS LAW 

coincides with marathon negotiations between Baghdad and the Kurdistan region regarding the latter’s share in the 2021 budget 

and the mechanism for managing his oil file. 

 

Thanks, so much, Dinar Thug.  The headlines sound great!  I'll read the articles now.  😄

[GreedyDinar07]

They have been announcing the Oil and Gas Law for the last 18 years. What is the difference between now and then? Everything else is falling in place except for the GOI and this Oil and Gas Law. The Port is being built, The New CBI building is suppose to be completed by the end of the year, they have a "B" credit rating, the currency auction sales are down, they have $6 trillion in Phosphates and Sulphur, there is an abundance of Natural Gas, they are trying to get about $600 billion back that is being held up by other Countries that belong to Iraq and they may hold a quarter of the worlds Oil that rivals Saudi Arabia but we still can't get the Budget or the Oil Law passed. Now where am I going wrong here?? 

[DinarThug]

Somebody Wake Up Kraperoni - The Little Boy Who Cries ‘Float’ !  

     

 

LINK

A high-risk destination for overcoming economic crises ... What do you know about the flotation? (report)

 

23rd March, 2021

- Sudan is the latest country to implement directed flotation in February 2021
- The "float" aims to let the central bank have a currency rate determined according to supply and demand
- Floating currency exchange rates are subject to constant fluctuations
 

With the intensification of the economic crisis resulting from the repercussions of the Corona pandemic, countries around the world are looking for financial and monetary solutions to recover and adapt to the crisis, including the "floating of the national currency", which carries both pros and cons at the same time.

Countries resort to a policy of floating their currency, in the event of financial and economic turmoil, increasing speculation in the foreign exchange market and the loss of control by the Central Bank.  These disturbances affect the performance of the state's balance of payments, and cause an expansion of the trade deficit, amid the impact of exports and a contraction of foreign investment, due to a decline in confidence in the future of the economy.

Several countries, such as China, India, Brazil, Argentina, Malaysia, Egypt, Morocco, Iraq and Sudan liberalized the exchange rate of their currencies during the past years and decades. However, these experiences were not successful by a large percentage except in China and India, thanks to the high exports and the low prices of local products, which boosted the demand for them externally and locally.

** Currency editing

"Floating" is known as the floating or released rate of currency exchange, and it is one of the tools used by the monetary policy administration in central banks around the world to support economic activities.

"Floating" aims to let the central bank leave the exchange rate of one currency, and its equation with other currencies, that is determined according to the forces of supply and demand in the money market.

Governments' policies regarding floating their currencies differ, depending on the level of liberalization of their national economy, the strength of their international trade, and the efficiency of local production.

Floating currency exchange rates are subject to constant fluctuations, with any change in the supply and demand for foreign currencies, so that they can change several times per day.

** The float type

Floating includes two types. The first is "free float", which includes leaving the central bank the currency exchange rate that changes and is determined freely with time, according to market forces, supply and demand.

Central banks' intervention in this case is limited to affecting the speed of exchange rate change, not to limit that change.

The free float is considered preferred by the advanced industrial capitalist countries in dealing with their currencies, thanks to the strength of their trade balance and the support provided by economies to currencies, and they aim to reduce imports or increase commodity exports.

As for the second type, "managed float" or "directed", it means leaving the exchange rate to be determined according to supply and demand, with the intervention of the central bank whenever there is a need to adjust this price against the rest of the currencies.

The second type depends on determining the response of a set of indicators such as the amount of the gap between supply and demand in the exchange market, the levels of spot and forward exchange rates, and developments in the equilibrium exchange rate markets (black market).

Sudan is the latest country to implement a "directed float", after last February, it unified the exchange rate of the local pound against the dollar and foreign exchange, in an attempt to eliminate economic and monetary imbalances.

** Relieving pressure

The reports of the International Monetary Fund confirm that countries whose inflation targets are well stable depend on exchange rate flexibility to relieve external pressures.

"Flexible exchange rates can be a useful shock absorption tool in the face of volatile capital flows," the reports added.

The IMF also indicated that this mechanism does not achieve adequate protection in all cases, especially when access to global capital markets is disrupted or market depth is limited.

“Intervention in the foreign exchange market was among the central bank’s policy tools that complement the interest rate policy when dealing with capital inflows,” according to the fund.

The Fund stated that these various approaches were also used during the Corona crisis, with large differences between countries' responses.

** The positives of flotation

According to data from central banks around the world, the elimination of the black market is one of the most important advantages of the floatation process, as it returns to the Central Bank the leadership of the foreign exchange file in the country, away from the control of exchange companies and traders.

The "float" also eliminates the phenomenon of "dollarization", which means that citizens keep a dollar and buy it without reason, thus causing scarcity of foreign liquidity in the markets.

Likewise, the float provides great support in reducing the balance of payments deficit, and supports foreign investment inflows, and an increase in commodity exports.

The owners of in-kind assets, such as real estate, factories or land, benefit from the increase in their value without affecting their savings, as well as the holders of foreign currencies whose wealth doubles in the local currency without effort.

** The most prominent negatives

As for the most prominent negative aspects of the flotation, which is the rise in inflation to record levels, as the liberalization of the exchange rate was accompanied by difficult economic conditions, and this is what happened in Egypt, which witnessed inflation rates at 35 percent a few months after the flotation.

The accompanying turmoil is also causing an economic recession and high levels of unemployment, with producers and importers affected in the short term.

The negatives also include a decrease in the value of monetary assets in the local currency (the erosion of deposits denominated in the local currency), in addition to the high bill for repaying the state's external debt.

[DinarThug]

LINK

Arab countries freed their currencies to remedy their crises ... Get to know them (report)

 

24th March, 2021

- Egypt and Yemen complete currency liberalization
- Morocco, Iraq and Sudan Partial float
- Elimination of the black market is one of the most important objectives of the currency
float - Currency float preceded by a gradual increase in support of basic commodities
 

The Lebanese people have been increasing fears in the recent period that the Central Bank will float the exchange rate of the pound, under pressure from the International Monetary Fund, which may mean a further decline in the local currency and an increase in prices.

The experiences of five Arab countries that have completely or partially floated their currency during the last five years are not encouraging, as this step had severe consequences for their citizens, especially the vulnerable groups and those with low incomes.

** Egypt

Egypt was the first Arab country to abandon the fixed exchange rate of the pound against the dollar, and it completely liberalized the exchange rate, leaving the price setting completely to the mechanism of supply and demand in the market.

One of the immediate consequences of the decision was a sharp decline in the pound’s exchange rate from about 8.8 to the dollar to 18, which weakened the country's foreign exchange reserves, and thus its ability to secure basic commodities, most of which are imported from abroad.

Inflation rates in Egypt increased in the months following the decision to float to more than 35 percent, at a time when Egyptian deposits denominated in the local currency were eroded due to the drop in exchange rates.

** Yemen To whom

Yemen followed the example of Egypt and fully liberalized its currency in 2017, in a move aimed at bridging the gap between the official exchange rate, set at 250 riyals to the dollar.

As a result of the move, the price of the local currency fell, within hours, to exceed 370 riyals to the dollar, which is the current exchange rate on the black market.

Today, after nearly 4 years of floating, the exchange rates of the riyal vary against the US dollar, but it averages 850-900 riyals in the temporary capital Aden, amid a shortage of foreign exchange.

Countries such as Saudi Arabia and the UAE intervened with the Central Bank, by pumping deposits denominated in dollars in order to preserve the cohesion of the riyal, but the ongoing war and lack of stability caused the country to lose most of the foreign exchange.

** Morocco, West, sunset

After the experiences of Egypt and Yemen in the complete liberalization of their currencies, and the accompanying popular protests, the Moroccan government chose a gradual floatation of the dirham, as one of the terms of a reform program stipulated by the International Monetary Fund to provide assistance to the country.

In 2018, the Moroccan government decided to allow the exchange rate of the dirham to have a margin of 2.5 percent, up or down, against a basket of currencies of the euro (with a weight of 60 percent) and the US dollar (with a weight of 40 percent), as a first stage for a full float over a period of 10 years.

In March 2020, Morocco began a second phase of floating the dirham, expanding the margin of movement to 5 percent, up or down.

Morocco did not witness any sharp confusion in the partial floatation process, because it was not a priority for the local economy, which had a degree of stability in trade activities and the balance of payments, and the country’s availability of a secure foreign currency block.

** Iraq

In the second half of 2020, the Central Bank of Iraq faced a waste in foreign exchange reserves, as a result of black market speculators taking advantage of the difference between the official rate (1183 dinars per dollar) and the parallel market price (1490 dinars per dollar).

Under this pressure, and pressure from international institutions, the Iraqi authorities made in December last, a partial float of the currency, by reducing the price of the dinar to 1460 against the dollar, with the aim of eliminating the black market.

The Iraqi Finance justified the reduction of the value of the dinar, in the face of the financial crisis that the country is exposed to, following the decline in oil selling prices in global markets, due to the repercussions of the "Corona" virus. 
And soon the International Monetary Fund announced its support for the decision to reduce the value of the Iraqi dinar against the dollar, as part of a plan for financial reforms in the country suffering from a stifling economic crisis.

** Sudan

Sudan was the last Arab country to abandon the fixed exchange rate for its national currency. Last February, the Central Bank of Sudan introduced a partial float of the local currency, a step almost identical to the Iraqi measure.

As a result of the Sudanese Central Bank’s decision to "unify the exchange rate," the local currency price decreased from 55 pounds to the dollar (the official rate to date) to 370 pounds, while it reached an average of 379 pounds in this week's transactions.

A statement by the Central Bank, last month, said, "The decision aims to unify and stabilize the exchange rate, transfer resources from the parallel market to the official market, and attract remittances from Sudanese working abroad."

The Sudanese Central Bank's move was preceded by the unification of the exchange rate, gradually raising the subsidy for fuel and other basic commodities, in implementation of the demands of the International Monetary Fund as a condition for supporting Khartoum's reform program.

[DinarThug]

19 minutes ago, DinarThug said:

Somebody Wake Up Kraperoni - The Little Boy Who Cries ‘Float’ !  

 

 

 

 

     

[PrehistoricMan]

2 hours ago, NEPatriotsFan1 said:

I’m suddenly getting a tingly feeling, with the new notes and the fact they said that they are pegging the Dinar for the next 4 years.... when have we ever known them to do what they say, and not the exact opposite?! 

Is that tingly feeling good like when meeting a hot girl that likes you kind of tingly, or the other kind of tingly when one eats a Tijuana bean burrito?

[DinarThug]

16 minutes ago, PrehistoricMan said:

or the other kind of tingly when one eats a Tijuana bean burrito?

 

 

 

      

[DinarThug]

 

 

 

     

[Shelley]

3 hours ago, NEPatriotsFan1 said:

I’m suddenly getting a tingly feeling, with the new notes and the fact they said that they are pegging the Dinar for the next 4 years.... when have we ever known them to do what they say, and not the exact opposite?! 

They did exactly what said they were going to , on the day they said they were going to do it ,,,, devalued the Dinar to 1450....., The one and only time they did what they said they were going to do !!!

[keylime]

2 hours ago, GreedyDinar07 said:

They have been announcing the Oil and Gas Law for the last 18 years. What is the difference between now and then? Everything else is falling in place except for the GOI and this Oil and Gas Law. The Port is being built, The New CBI building is suppose to be completed by the end of the year, they have a "B" credit rating, the currency auction sales are down, they have $6 trillion in Phosphates and Sulphur, there is an abundance of Natural Gas, they are trying to get about $600 billion back that is being held up by other Countries that belong to Iraq and they may hold a quarter of the worlds Oil that rivals Saudi Arabia but we still can't get the Budget or the Oil Law passed. Now where am I going wrong here?? 

From what you've said, it looks like we are closer than ever to an RV....I think you've got it narrowed just right...The Budget which may or may not have the new RV'd rate in it and the HCL which according to Adam is the fuse that lights the RV...interesting that those two are the very things we are waiting on to possibly trigger this whole dream of ours and set Iraq on a course of wealth and riches like they use to have. Yes, I'd say you definitely are  reading the tea leaves that put us right on the threshold of this thing. Now if they can just knock those two things out of the park we have a winner winner chicken dinner. And it may be that because those two things are going to unlock the RV that is why they haven't been done yet. Not until they are absolutely ready because everything is going to change for them when it happens. No small thing this RV.

[6ly410]

A new statement from the government regarding salaries and allowances in the 2021 budget and the exchange rate adjustment

Posted 4 hours ago

https://iraqakhbar.com/2988515

News source / Iraqi Media News Agency "INA"

 

News source / Iraqi Media News Agency "INA"

Baghdad

Today, Wednesday, cabinet spokesman Hassan Nazim made new statements regarding salaries and allocations in the 2021 budget, while indicating that the government cannot predict when the budget will be approved.

"The new allocations added to salaries in the 2021 budget must be launched. We are now in a crisis and there must be remedies for the deficit in salaries due to the change in the exchange rate and the deficit that hit salaries," Hass Nazim said in a televised interview. “.

Nazem added, "If the budget is approved and taxes are fixed on employees' salaries, their value will decrease after the price escalation, and there must be treatments through allocations, and this is what we think about."

Nazem denied statements attributed to him to the effect that the government is not obligated to change the exchange rate by Parliament, indicating that “a government spokesman is not permitted to be stoned by absence regarding the possibility of changing the exchange.”

On Kurdistan, a spokesman for the Council of Ministers said, "The current government has positive links with the Kurdistan region, and there is a sense of comfort in the discussions, and there is a complex currently related to the region's share in the budget and is still under negotiation," noting that "the knot has prolonged and continued and must be Solved, and we will now enter the fourth month without finding solutions to some of the contracts in the 2021 budget, including the region’s share.

Regarding the date for approving the budget, Nazem said: "We cannot predict when the budget will be approved next Saturday or not."

On the Corona pandemic file, Hassan Nazim said, "The world is moving towards openness with the availability of the vaccine, and we in Iraq will open up with the global situation by providing the vaccine, which is the most important option, and the spread of the vaccine means walking towards openness and normal life."

A spokesman for the Council of Ministers indicated, "A meeting of Arab tourism ministers in Saudi Arabia next month, to issue an Arab decision on whether to open up to the global tourism situation or not

[6ly410]

 

Parliamentary Finance is suspended on projects, deficits, and adjusting the exchange rate in the budget

Posted 6 hours ago

https://iraqakhbar.com/2988422

News source / NR TV

News source / NR TV

A member of Parliamentary Finance, Magda Al-Tamimi, confirmed that the committee focused during its work on the federal budget for the fiscal year 2021 on the issue of project development, and raised the value of the amount allocated to it from 2 trillion to become 4 trillion.

Al-Tamimi said in a special statement to NRT Arabia, today (March 24, 2021), that “The Financial Committee is determined to find a fund in all oil-producing provinces to put petrodollars dues into it and make it 1 trillion, and the monthly cash amount enters the fund after the petrodollar allocations amounted to 500 billion. And often it is just ink on paper, in addition to developing regions, and this means an increase in the number of projects.

She added, "The value of the budget deficit was reduced from 71 to 28, meaning that the reduction rate reached 59%, and so is the loans as well, as most of the loans that we do not need have been raised in order to shackle the country, and the private sector has also been focused on."

Al-Tamimi explained, “With regard to calculating the price of a barrel of oil, the committee hosted the oil rigor about 5 times, and it also hosted the director of a Sumo company, general managers and the Board of Financial Supervision, and discussed with them the issue of oil prices until it reached the committee’s agreement after estimating the reports and the decision was taken that The price of one barrel of oil is calculated at 45 dollars.

It indicated, “The Central Bank Law Article (16) Paragraph (B) authorized the Board of Directors of the Central Bank to formulate policies that would achieve the main objectives of the monetary policy, including the exchange rate policy. And their implementation, including increasing foreign exchange, is the task of the central bank. These and other laws make the exchange rate exclusively for the CBI’s specialty

[6ly410]

Saturday's session will not lead to a vote without resolving the outstanding issues ... Parliamentary Committee for "Al-Zawra": Budget disputes focus on the share of the Kurdistan region and changing the exchange rate

Posted 4 hours ago

https://iraqakhbar.com/2988561

News source / Al-Zawra Newspaper

News source / Al-Zawra Newspaper

Al-Zawra / Yusuf Salman:

In preparation for the parliament session, scheduled to be held next Saturday, to vote on the draft General Budget Law 2021, the Parliamentary Committee for Monitoring the Implementation of the Government Program and Parliamentary Strategic Planning disclosed the pending differences so far, which will complicate the passage of the voting process on the bill in light of the blocs' threats The political to boycott the vote in protest at the unfairness of the poor and affected governorates, and the failure to change the exchange rate of the dollar against the dinar.
The deputy head of the committee, Muhammad al-Baldawi, told Al-Zawraa: “There is a great possibility that the voting session on the 2021 budget bill will pass by a majority if the representative forces do not reach solutions to the pending differences.” Referring to the continuation of negotiations are continuing in the hope of reaching final understandings before the session next Saturday.
He added that "the next session will not lead to anything if the political blocs do not reach solutions and conclusive consensus for the complexity of differences in the draft budget law, the most important of which is the share of the Kurdistan region and the change of the exchange rate of the dollar and the budgets of the ministries and the allocations of the provinces," indicating that "there is agreement with a large part of the Kurdish parliamentarians." To enter the session and vote on the budget law.
He explained that "the Kurds refuse to hand over the region’s revenues to the center, but many Kurdish positions confirm their desire to localize the region’s salaries and link them directly to the center," noting that "the exchange rate may be the most important problem facing the passage of the budget because of the parliamentary determination to reduce it."
The Al-Fateh Alliance had confirmed that it was not ready to vote on the budget bill at next Saturday’s session in light of the dollar’s exchange rate remaining as it is now.
The deputy of the coalition, Hamid Al-Mousawi, told Al-Zawra recently: “The Al-Fateh Alliance refuses to pass the budget law in light of the government's insistence on keeping the exchange rate within the new price of 1450 dinars against the dollar.”
He added that "the Sunni blocs, independent deputies, civil blocs and other alliances agree with the opinion of the Al-Fateh Alliance to refuse to vote on the budget law except after reducing the exchange rates to the previous or average price." Indicating that "taxes were raised from the budget law and a return to the previous tax law, as it will be applied in its natural form in force."
He explained that "taxes were imposed on some imported goods to try to transfer capital towards the local product and revive it again, instead of relying on imports." He pointed out that "taxes were excluded from the food and drug security that affects the life of the Iraqi citizen, in order to ensure that no harm to the citizen or his living situation

[6ly410]

 

The government declares salaries and allowances in the 2021 budget and an exchange rate adjustment

Posted 6 hours ago

https://iraqakhbar.com/2988443

News source / NR TV

News source / NR TV

Cabinet Spokesman Hassan Nazim - A televised interview The new allocations for salaries added in the 2021 budget must be launched. We are now in crisis. There must be remedies for the deficit in salaries due to the change in the exchange rate and the deficit that affected salaries if the budget is approved and taxes are fixed on salaries. Employees, their value will decrease after the rise in prices, and there must be treatments through allocations, and this is what we think. There is no truth to what was reported to me from a statement that the government is not bound by any change in the exchange rate by Parliament. A government spokesperson may not impute unseen about the possibility of changing the exchange for the current government. Positive links With the Kurdistan region, there is a sense of comfort in the discussions, and there is a complex currently related to the region’s share in the budget and is still under negotiation. This node has prolonged and continued and must be resolved. We are now entering the fourth month without finding solutions to some contract, including the region’s share. We cannot predict the date of approving the budget on the day Next Saturday or not regarding the Corona pandemic,The world is moving towards openness with the availability of Iraq, and we in Iraq will open up with the global situation by providing the vaccine, which is the most important option. The spread of the vaccine means walking towards openness and normal life, and there will be a meeting of Arab tourism ministers in Saudi Arabia next month to issue an Arab decision regarding openness to the global status of tourism

[6ly410]

The first statement from the Central Bank of Iraq to NRT regarding changing the exchange rate of the dollar

Posted 8 hours ago

https://iraqakhbar.com/2988294

News source / NR TV

News source / NR TV

The Central Bank of Iraq announced, on Wednesday, the difficulty of making any change to the exchange rate of the dinar against the dollar, stressing that determining the exchange rate of currencies is the prerogative of the Central Bank exclusively.

" The decision to reduce the value of the Iraqi dinar against the US dollar was taken about 3 months ago on (December 20, 2021), and it is difficult to change this decision during this short period," said Mahmoud Dagher, director general of the Central Bank, in a special statement to NRT .

He added, "Confidence in the Iraqi dinar has been subjected to a major shock following the bank’s decision to reduce its value against the dollar, and any other decision of this kind will contribute to further undermining confidence in the Iraqi currency."

He explained, "Determining the value of the exchange rate is within the authority of the Central Bank of Iraq exclusively according to the law and the constitution, and neither the Council of Representatives, the Council of Ministers, or any other institution has this authority, and they are not entitled to issue any decision in this regard, and in the event that a decision of this type is issued by Parliament." He will meet with a case filed by the Central Bank, and the Federal Court will support us. ”

He continued, "Iraq is on the verge of an election season, and the statements issued regarding changing the exchange rate of the dollar against the Iraqi dinar are merely electoral propaganda, because Parliament does not have this authority in the first place."

And, "the statements of parliamentarians and politicians in this regard generated confusion and a state of instability in the local markets, calling on the House of Representatives to approve the draft budget law as soon as possible."

He pointed out that "after approving the budget, there is a possibility of a further rise in the exchange rate of the dollar against the dinar and may reach 1500 dinars, but overall, the lowest price for the exchange of the dollar against the Iraqi dinar will be 1460 dinars."

On his advice to citizens about buying the dollar or the Iraqi dinar at this time, Dagher explained, "The citizens who have a surplus of the dollar should keep it, and those who own a surplus of the Iraqi dinar should exchange it for the dollar, because the dollar exchange rate will witness another rise after the budget is approved

[6ly410]

 

Parliamentary Finance: No parliamentary request was received to reduce the exchange rate

Posted 9 hours ago

https://iraqakhbar.com/2988167

News source / Iraqi Media News Agency "INA"

 

News source / Iraqi Media News Agency "INA"

/ Baghdad / N.N.

The Parliamentary Finance Committee announced, on Wednesday, that it denied any parliamentary request to reduce the exchange rate, stressing that the Baghdad and Erbil crisis is still an obstacle to passing the budget. 

A statement by Committee member Muhammad al-Shabki, reported by (Iraqi Media News Agency /) correspondent, stated that “Article 11 related to the oil agreement, the region’s dues and settling accounts from 2004 to 2020 is still the obstacle that stalled negotiations between the parties to resolve the Maronite law.” 

He added, "The political blocs intervened to give a week for deliberation between leaders in the region to come out with a clear position on Article 11 and the region’s commitment to pay dues to the federal government and the latter’s commitment to the region’s dues." 

He pointed out that "reducing the exchange rate is the prerogative and policy of the Central Bank, and there is an agreement with the Ministry of Finance on the subject, and the House of Representatives and the Finance Committee have nothing to do with that." 

He pointed out that "there is no request to the House of Representatives and to address the Central Bank to reduce the exchange rate, but there are several parliamentary claims to reduce it

[6ly410]

Al-Fath: There is no retreat from the government's demand to reduce the exchange rate in exchange for voting on the budget

19:35 - 24/03/2021

https://www.almaalomah.com/2021/03/24/526888/

Information / Special ...

Al-Fateh Alliance confirmed, on Wednesday, that the positions within it regarding reducing the exchange rates of the dollar in exchange for the vote on the budget will not decline.

A member of the coalition, MP Hamid Al-Mousawi, said in a statement to Al-Maalouma Agency, that “there is no retreat in the Al-Fateh Alliance’s position regarding entering the budget voting session in exchange for reducing the dollar’s exchange rate to its previous position or setting a new price that is satisfactory and appropriate to reality.”

Mousawi added, "The forces participating in the political process have been informed of the coalition's willingness to sit down for a scientific discussion on this issue and to prove the accuracy of the diagnosis."

He pointed out that "it is necessary to support other partners in this decision far from me and try to impose wills because the citizen considers all the blocs as a guardian of his interests

[boosterbglee]

A rate “appropriate to reality!”  😍

[screwball]

1 hour ago, 6ly410 said:

entering the budget voting session in exchange for reducing the dollar’s exchange rate to its previous position or setting a new price that is satisfactory and appropriate to reality.”