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7 hours ago, DinarThug said:

Al-Kazemi: The port of Al-Faw will enhance Iraq's geopolitical position in the region and the world

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11th April, 2021


The Prime Minister, Mustafa Al-Kazemi, confirmed, on Sunday, that the large port of Al-Faw will enhance Iraq's geopolitical position in the region and the world.

"Today we announce the start of an important strategic project that has been awaited by the people of the country for many years," 

Al-Kazemi said in a speech during the foundation stone laying ceremony for the Grand Faw Port project, according to a statement from his office that Mawazine News received a copy of, stressing that 

the port will provide great opportunities for Iraq and strengthen its geopolitical position in the region and the world, and it will create many job opportunities for the people of Basra and the rest of the provinces, and it will contribute to the development of the province." 

He added, "Many have gambled on the failure of the project and spread several rumors to frustrate the people, but the project is officially launched today after we completed the planning and negotiations stages, and we financed the project from this year's budget."

He continued: "The big FAO project is not only for Basra, but rather is a strategic project that contributes to the development and reconstruction of all governorates of Iraq, and makes the country an economic bridge linking the various countries of the region." 
 

And he added, "We are facing a new stage in the modern history of Iraq, where we overcome crises, and move towards construction, reconstruction and prosperity," calling on the people in Basra and all over Iraq to "have hope and put our hands together, and build our country from Faw to Zakho."

At the end of his speech, he affirmed that "Iraq will rise again with the arms of our young men and women, and by God’s blessing we will open the project and we will continue supervision and follow-up so that it will be completed successfully, God willing, without delay."

 

Interest in seaports enhances Iraq's economic position

 

Sunday April 11, 2021

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Baghdad: the pillar of the emirate

 

Iraq has an important maritime location that could give it an important economic power and enhance its global position, as the state’s possession of multiple sea ports helps to develop and develop its economic sectors, and build international relations with major global economies, and in the case of Iraq it could be a global trade corridor and an international industrial center. 

Taking advantage of its geographical location between the poles of the Western and Eastern world 
Trade traffic


Expert of the Strategic Center for Arab and International Studies Dr.. Ahmed Omar Al-Rawi said: “Iraq has a sea coast estimated at 58 km, and it has factors that contribute to enhancing the strategic position of its maritime ports, as a result of several factors, including its geographical location, which made it a conduit for trade movement between East Asia and Europe, through the so-called dry canal, and its possession The oil reserves estimated at 153 billion barrels, which would qualify it to provide industrialized countries with the main energy source for decades to come, especially the countries of East Asia and Europe through its maritime ports.

He added that «the maritime site of Iraq in the north of the Arabian Gulf contributes to the export of more than three million barrels of oil per day from its seaports, and it is expected that trade traffic in Iraqi ports will increase in the future, to double during the next two decades and cards outside the current capabilities of the national ports», indicating that «these The economic fundamentals oblige Iraq to develop its ports, which now need expansion and the establishment of new ports, that meet its commercial needs as a result of the increase in foreign trade, especially if we know that the capacity of the current ports does not exceed 15 million goods. 
It is noteworthy that the maritime shore of the country is limited compared to the Gulf countries, as we find that the indicators of benefiting from its maritime domain do not exceed 700 km2 and the marine area of Kuwait reaches 12,000 km2, Iran is 155,700 km2 and Saudi Arabia is 186,200.
 
Investment opportunities
Academic turn Dr. Amr Hisham stated that «the limited investment opportunities for Iraq in developing its border ports, and the reason is that its ports are located in waterways (Khor Abdullah and Khor Al Zubair) with limited depths and the abundance of sediments, which are thrown by the Shatt al-Arab and transported by water currents to those passages, which requires cleaning operations to pass medium-tonnage vessels In line with the depths of the waters of the creek, and one of the other challenges is that its maritime domain is limited relative to the land domain. ”
"These challenges have led to making the port of Faw of great importance for the development of the Iraqi coasts and achieving sectoral interlocking in order to find a comprehensive development for the country, by investing in its coast to develop navigation and stimulate trade with different countries of the world," Hesham emphasized.

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Btw, Iran - The Check’s In The Mail .....  :soon:

:D  :D  :D 

 

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Iraq pledges to pay back Iranian debts Soon

 

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12th April, 2021

 

Finance Minister Ali Abdul-Amir Allawi pledged to pay Iran the debts owed by Iraq soon

The Iraqi Minister of Finance, Ali Abdul Amir Allawi, received the Iranian Minister of Cooperation, Labor and Social Welfare, Muhammad Shariatmadari, on Sunday (April 11, 2021) in Baghdad, according to the Iranian IRNA Agency

Shariatmadari highlighted in this meeting the many common denominators and the foundations of good neighborliness between the two countries; He stressed Tehran's readiness to share its experiences, especially in areas related to work and social welfare, with Baghdad

In his turn, the Minister of Finance referred to the "good and valuable experiences" that Iran enjoys in various fields, especially the development and training of human resources. Welcome to benefit from these experiences with the aim of growth, prosperity and advancement of the Iraqi economy

On the other hand, Allawi referred to the Iraqi debts due in exchange for importing gas and electricity from Iran; He assured that these debts will be paid soon

In this meeting, the Iranian and Iraqi sides reviewed ways to enhance bilateral cooperation in the field of information exchange, social security and customs, in addition to signing a memorandum of understanding on "avoiding double taxes" between the two countries

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Iraq and Iran sign a five-year agreement to enhance economic cooperation between the two countries


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12th April, 2021

 

Iraq and Iran signed a five-year economic agreement aimed at boosting investments between the two countries

The agreement was signed by the Iraqi Minister of Finance, Ali Allawi, and the Iranian Minister of Cooperation, Labor and Social Welfare, Muhammad Shariatmadari. In statements reported by "IRNA", Shariatmadari said, "We hope to reach understandings in the fields of investments, customs, border markets and similar issues

The completion of the agreement depends on the Iraqi Finance Minister's visit to Tehran during the coming period, with the aim of "signing it before the end of the current Iranian government period next June," he added. Shariatmadari indicated that "Iranian Economy Minister Farhad Djebsand had invited his Iraqi counterpart to visit Tehran and hold bilateral talks. 
 

The Iranian Minister of Labor added, "There are broader economic issues, especially in the field of infrastructure and mutual economic opportunities, which are among the common areas of cooperation, in which both parties feel optimistic about them

On how to cooperate in the joint free zones and the consultations in this field, he said, "The negotiations were about laying the foundation for the preferential tariff system between the two countries, so that through this way, the possibility of establishing a large common market between Iran and Iraq could form a wider market in other countries

Shariatmadari added, "Given the presence of 15 neighboring countries to Iran, such a market could provide new economic opportunities for the two countries, which was also welcomed by the Iraqi side

The Iranian Minister of Cooperation, Labor and Social Welfare, Muhammad Shariatmadari, arrived in Baghdad on Sunday morning; On a 3-day official visit, to hold talks and sign some documents of understanding with the Iraqi side

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A member of Parliamentary Economy talks about 3 dangerous files related to the economy, the Iraqi dinar, and the population

 

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172 Economie 2021/04/12 18:24


Baghdad today - 

 

Follow-up to the  opinion of a member of the Parliamentary Economic and Investment Committee, Abdullah Kharbit, today, Monday, that the economic aspect was the most important thing in the recent strategic dialogue between the Iraqi and American governments last Wednesday.

Kharbit said in a televised statement (Baghdad Today) that "Iraq's economy is afflicted with cancer and the Iraqi currency will collapse in the coming years according to expectations, and this matter prompted Washington to intervene directly to help Iraq." 

He added, "The Iraqi economy is a matter of concern to the US government, so it seeks to push Iraq to exploit gas instead of importing it via Iran." 

He continued, "There is a population explosion in Iraq, where the number of citizens has reached more than 40 million and will increase over the next 20 years to 80 million."
Baghdad and Washington issued a joint statement last Wednesday, after the end of the third round of the strategic dialogue rounds between the two countries. 

The two sides said in the statement, "The role of US and coalition forces has now shifted to training and advisory missions in a way that allows the redeployment of the remainder of the combat forces outside Iraq." 

The two countries reaffirmed the importance of the principles of the Strategic Framework Agreement, while the United States reaffirmed its respect for the sovereignty and territorial integrity of Iraq and the relevant decisions issued by the Iraqi legislative and executive authorities.

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The Supreme Committee for Health and National Safety decides to impose a comprehensive curfew on Friday and Saturday

 
The Supreme Committee for Health and National Safety decides to impose a comprehensive curfew on Friday and Saturday
 
 
04/12/2021 16:43:31
 
The Supreme Committee decides to reduce the official working hours by one hour during the month of Ramadan

The Supreme Committee: The partial ban hours will be from eight in the evening until five in the morning

The Supreme Committee for Health and National Safety decides to impose a comprehensive curfew on Friday and Saturday. 

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Al-Sistani's office expects the first days of Ramadan


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12th April, 2021


The office of the religious authority, Ali al-Sistani, expects, on Monday, that the crescent of the month of Ramadan will be visible on Tuesday evening.

The office stated in a statement that Mawazine News received a copy of, that “it is expected that the crescent of the month of Ramadan will be visible on Tuesday evening (30 Shaban 1442 AH) corresponding to (April 13, 2021 AD) in the horizon of the holy city of Najaf at sunset at (6:30 pm) ), And in this case it is expected that the crescent will be clearly visible and raised, and therefore Wednesday (April 14, 2021 AD) will be the first day of the month of Ramadan.

He added, "The crescent will have an altitude of 14 degrees and 16 minutes above the horizon, and the duration of its stay after sunset is (1 hour) and (12 minutes), and the proportion of the illuminated portion of it is (1.70%), as stated in the expectations that “The crescent moon on the night before (the night of Shaban 29) is not expected to be seen with the naked eye.”

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Talabani: We are committed to implementing the agreement with Baghdad

Posted 1 hour ago
News source / PukMedia Network
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PukMedia Network
News source / PukMedia

 

The Deputy Prime Minister of the Kurdistan Region, the head of the negotiating delegation of the regional government, Qubad Talabani, visited the Kurdistan Parliament today, Monday 4/12/2021, accompanied by the members of the delegation, and was received by the President of the Kurdistan Parliament and a number of representatives.

The delegation then met with the Speaker of Parliament and heads of the relevant blocs and committees, to clarify the content of the agreement of the prominent delegation of the Kurdistan Regional Government with the Iraqi parties and confirm it in the 2021 Federal Budget Law.

Talabani indicated during the meeting that this agreement is the results of the meetings and understanding between us, as we were able to deliver the information in a true and correct manner and discuss issues related to the financial rights and entitlements of the Kurdistan Region, the issue of the budget, revenues and expenses, and a mechanism for installing a paragraph in the budget law that can be implemented.

The Deputy Prime Minister said that the regional government has expressed its commitment to implementing that agreement, and the concerned parties have been assigned for this purpose.

For her part, the Speaker of the Kurdistan Parliament, Rewaz Fayek, praised the efforts of the negotiating delegation of the Kurdistan Regional Government, calling for the law to be implemented

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Economist: The increase in the central bank’s reserves has nothing to do with lowering the price of the dinar

Posted 2 hours ago
News source / PukMedia Network
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PukMedia Network
News source / PukMedia

 

Economic expert Dr. Hammam Al-Shamaa emphasized that increasing the Central Bank's reserves has nothing to do with the reform policy undertaken by the federal government nor with the reduction of the national currency's rate against the US dollar. 

In a special statement to PUKmedia , on Monday 12/4/2021, Al-Shamma said that the increase in the Central Bank's currency reserves, which was announced by Federal Prime Minister Mustafa Al-Kazemi, is due to the turmoil that occurred in the markets as a result of raising the price of the dollar and reducing the value of the dinar, which made the market stop On the one hand, on the one hand, government revenues rose as a result of high oil prices, and thus the central bank’s reserves increased.

Al-Shamaa added that the central bank’s reserve is to cover Iraq's imports from abroad and makes the countries of the world trust the credits opened by Iraqi banks, stressing that the size of the reserves has no limits, but there are minimum limits that if reduced from them, this would be a risk, as they must cover the value of 6 months of Iraq's foreign imports.

Al-Shamaa stressed that Iraq has sufficient reserves to cover 100% of the value of its foreign imports. 

The Prime Minister, Mustafa Al-Kazemi, announced yesterday, Sunday, that the Central Bank’s foreign currency reserves rose to more than 60 billion dollars, after it was 51.9 billion before the initiation of the reform measures of this government.

 

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Central Bank says No Further Devaluation of Iraqi Dinar

13th April 2021 in Iraq Banking & Finance News

By John Lee.'

https://www.iraq-businessnews.com/2021/04/13/central-bank-says-no-further-devaluation-of-iraqi-dinar/

 

The Deputy Governor of the Central Bank of Iraq (CBI) has reassured the markets that there will be no further devaluation of the Iraqi dinar.

Ammar Mohammed said:

"It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars ... to serve the interests of the Iraqi economy ... it will also enhance the competitiveness of domestic products and reduce imports ...

"The decision ... is final, and there will be no further change in this rate."

He added that the Central Bank has sufficient foreign reserves to sustain the new exchange rate.

(Source: Govt of Iraq)

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Iraqi Govt Relaxes Monetary Policy

https://www.iraq-businessnews.com/2021/04/13/iraqi-govt-relaxes-monetary-policy/

By John Lee.

The Iraqi government has said it is relaxing monetary policy to help businesses and people on low incomes.

Ammar Mohammed (pictured), the Deputy Governor of the Central Bank of Iraq (CBI), said the measures include the provision of "soft" loans up to a value of 15 million Iraqi dinars (IQD) [$10,250], with no interest and a commission of four percent, to be repaid over five years.

He also said the government has launched a 5-trillion-dinar [$3.4 billion] initiative to support businesses with very low interest loans.

(Source: Govt of Iraq)

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A sudden jump in the dollar exchange rate ... the escalation continues, and there are no signs of a decline

2021-04-12
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Yes Iraq: Baghdad

The exchange rates of the dollar increased further today, Monday, bringing the selling price to 148,000 dinars per 100 dollars, after the stability of the official pricing and the people's demand for dollars.

 

Al-Kifah Central Stock Exchange in Baghdad recorded 147,700 Iraqi dinars against 100 US dollars, while Al-Harithiya Stock Exchange recorded 147,650 dinars per 100 US dollars.

 

The selling and buying prices also increased in the exchange shops in the local markets in Baghdad, where the selling price reached 148,250 Iraqi dinars, while the purchase prices reached 147,250 dinars per 100 US dollars.

 

Some banking owners attributed that the market is currently witnessing an increase in demand for the dollar, after citizens were reassured about the survival of the dollar exchange rate without fear of it coming back

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