Demonstrations in central Baghdad calling for a reduction in the dollar (photos)

[yota691]

The Independent: The deteriorating economic reality warns of new protests in Iraq

reports
   

Economy News-Baghdad
The Iraqi Prime Minister, Muhammad Shia' al-Sudani, realizes that his government has a great opportunity to change the reality of its citizens and achieve their aspirations by providing services and job opportunities and combating corruption.

 

Field trip

On the morning of Sunday, January 1, Al-Sudani conducted an inspection field tour in several areas of the capital, Baghdad, where he met with a number of citizens with whom he exchanged congratulations on the advent of the new year, listened to their demands and needs, and was briefed on their living and service conditions.

 

The Prime Minister inspected a number of security points located in the streets of the city, met with the personnel present there, and appreciated their perseverance in performing duty in various circumstances and times, directing them towards more giving and exertion in order to facilitate the requirements and daily needs of citizens, and to provide assistance as part of duties and tasks.

Al-Sudani followed up on the field a number of work sites belonging to the service and engineering effort, and was briefed on the progress of completion and completion of the service tasks specified for those sites, and stressed the need to complete and overcome obstacles in order to meet the aspirations of citizens.

 

The year 2023 opens up a lot of expectations and speculations about the new Iraqi government and the mechanism for providing its services to citizens, especially as it enters the year with a different reality than previous governments.

 

political bets

Because of the deteriorating economic and social conditions of the Iraqis, Iraq may witness a "hungry revolution" at the beginning of 2023. The political and economic researcher, Nabil Jabbar Al-Tamimi, said, "There are big political bets about the return of protests quickly, as opposition political parties and others withdrawn from the political scene are waiting and watching." And it looks forward to the return of the protests to make it a new starting point, while the current government and the parties supporting it are working to make the government project a success and implement the goals.

Statistically, according to Al-Tamimi, "the persistence of high unemployment rates at 16.5 percent and the poverty rate at 25 percent may motivate people to protest and demonstrate, and this is what the ruling forces realized today and worked to absorb greater unemployment through a wide employment campaign that the country has not witnessed for eight years." years, by employing and installing about 400,000 individuals or more, despite warnings of the dangers of expanding the government bill.

absorption of causes

 

On the other hand, the political researcher, Ali Al-Baydar, ruled out that the matter would lead to demonstrations and a revolution of the hungry, attributing the reason to the fact that the country "has great financial potential." He added, "Most of the 2023 budget will be paid as salaries to employees, and new employees will be appointed in order to absorb unemployment, eradicate poverty, and address the state of popular discontent experienced by Iraqis as a result of their economic conditions. Moreover, the political scene appears more stable than before, and this confirms that any movement in the street It would be a cacophony, given the political circumstance."

 

He continued, "There is no possibility of demonstrations or protests taking place except in one case, which is represented by the movement of the Sadrists as a result of their provocation by the parties in power or the occurrence of something that drives them to do so," noting that "the Iraqis today have reached the point of despair and despair regarding the occurrence of internal change, even through elections." Which did not bring them reform or even the desired change, and they began to look forward to an external change that would end the political chaos that the country has been living through since 2003, and this will not happen in the near future.

 

economic risks

In the context, economic researcher Bassam Raad suggested that “this year will be another year of uncertainty fraught with economic risks, accompanied by a cycle of fluctuation of oil assets between ups and downs, in addition to the delay in the draft budget law for the year 2023, which expresses the government program for a year according to the contents of the budget and its eight dimensions ( social, political, economic, financial, legal, administrative, computational, and informational).

 

Raad acknowledged that “the delay in approving the budget affects the economic growth of the country. It also appears that the draft budget for the year 2023 is no different from its predecessor, and this means that the budget has not been structured and transformed into a budget for goals and programs, in addition to that the fiscal surplus achieved in 2022 will be used to bridge the planned fiscal deficit.” It is expected in the draft budget for the year 2023, and accordingly, the previously accumulated crises will remain unresolved.

 

Raad continued, "The economy suffers from many weaknesses, foremost of which are unemployment, inflation, and accumulated crises in the housing and health sectors. Therefore, in order to maintain societal stability, inflation must be combated and maintained at acceptable levels, and the unemployment scourge must be fought by providing a safe and encouraging investment environment for the private sector. Otherwise, The gates of the unknown will be wide open.

 

2023 challenges

On the other hand, the representative of the "Sadiqoon" bloc, Muhammad Al-Baldawi, identified the most prominent tasks facing the government for the new year during the year 2023, noting that "approving the budget advances these tasks, since the approval of the law is linked to the implementation of the government curriculum." Al-Baldawi said, "The first challenge facing the government for the new year is approving the budget, as its approval will accelerate the implementation of the government's program and approach, especially in the service and economic field, as well as controlling the exchange rate of the currency and facing the challenge of the United States by obstructing it from providing Iraq with the hard currency that exists in the country." The Fed as Safeguards". He added, "One of the most important things that the government will face is conducting the general population census because of its repercussions in the field of planning and ending the annually renewed problem between the Kurdistan region of Iraq and the center regarding the region's share of the budget, and therefore some governing laws such as the oil and gas law can be approved."

 

 Al-Baldawi continued, "As for the other challenge, it is holding provincial elections, followed by combating administrative and financial corruption."

 

 

---

Views 129

Added 01/02/2023 - 9:23 AM

Updated 01/02/2023 - 5:47 PM

[yota691]

'Yes to the dinar'

Against the rise in the price of the dollar.. "angry" demonstrations in front of the Central Bank building in Baghdad (photos + video)

2023.01.04 - 14:10

 

Baghdad - people  

On Wednesday, a number of citizens organized angry demonstrations in front of the Central Bank building in the capital, Baghdad.  

  

 

  

Our correspondent reported (January 4, 2023), that "a number of citizens organized demonstrations in front of the Central Bank building on Al-Rashid Street in Baghdad, through which they raised banners calling for a reduction in the exchange rate of the dollar."  

  

Pictures monitored by "NAS" showed a side of the demonstrations that coincided with continuous showers of rain, amid an intense security deployment.  

  

  

 

 

 

  

[6ly410]

A new demonstration in front of the Central Bank to demand a reduction in the currency exchange rate

Wednesday 04 January 2023 14:59 | A new demonstration in front of the Central Bank to demand a reduction in the currency exchange rate (ninanews-com.translate.goog)

Baghdad / NINA /- Hundreds of activists and representatives of civil organizations demonstrated today, Wednesday, in front of the Central Bank of Iraq building in the Hafez Al-Qadi area, demanding a reduction in the currency exchange rate against the dinar and activating deterrent legal measures to control banking transactions./ End 5

 

 

 

 

[6ly410]

"In the Rain" demonstration in front of the Central Bank of Iraq. tire

Posted 24 seconds ago

 

Demonstration "under the rain" in front of the Central Bank of Iraq. Pictures - Iraq News (iraqakhbar-com.translate.goog)

News Source /Shafaq News

2023-01-04T11:03:31.000000Z
 

On Wednesday, dozens of people organized a demonstration in front of the Central Bank of Iraq in central Baghdad to demand a reduction in the exchange rate of the dinar against the US dollar.

The correspondent of the Shafaq News Agency said that the demonstration was organized, today, in front of the Central Bank building on Rashid Street in central Baghdad, despite the heavy rainfall, explaining that the demonstrators demanded to reduce the exchange rate and return it to 118 thousand dinars per hundred dollars.

Last Friday, Finance Minister Taif Sami revealed new details related to the draft federal budget law for the year 2023, noting that it included a fixed exchange rate of 1,450 dinars for the dollar.

[6ly410]

 

[DanP]

They need a match

[yota691]

Economist: The dollar escaped from the government's control and its price will rise

• Time: 01/06/2023 15:13:38
•  
• Read: 897 times

  

{Economic: Al Furat News} An economist ruled out the government's control over the exchange rate of the dollar.

"The government has not yet controlled the movement of the dollar in the local markets," Nabil Al-Marsoumi told {Euphrates News} agency, expecting that "the exchange rate will continue to be above 1,500 dinars if an understanding is not reached with the US Federal Bank because there is an increase in dollar smuggling."
He added, "If this crisis is not resolved, the exchange rate will continue in its current position, or it may exceed this limit, unless the problem of bank transfers and the deliberate obstruction of the US Federal Reserve is resolved."
It is noteworthy that dozens of citizens organized yesterday a protest stand in front of the Central Bank of Iraq to demand the government to intervene in order to regulate the exchange rate of the dinar against the dollar, as the exchange rate on the black market exceeded 156 thousand dinars for every 100 dollars, while the authorities kept the exchange rate in the central bank at 146 thousand dinars for every 100 dollars.
It is noteworthy that the local markets have witnessed, two days ago, a return to a slight rise in the exchange rates of the dollar, despite its relatively low days ago, after a series of measures by the Central Bank of Iraq in selling foreign currency at a price of 1460 dinars to travelers exclusively, and at an amount of 10 thousand dollars via the MasterCard card.
And in the bank's latest measures to control the price of the dollar, it announced last Monday the expansion of the number of bank outlets for selling foreign currency to 20 banks instead of 10 banks.
The bank said in a statement, "Increasing the amounts allocated to these banks weekly to meet the largest possible number of those covered by the purchase of foreign currency, in accordance with the instructions and controls issued by the bank."

Raghad Daham

[yota691]

POSTED ON2023-01-05 BY SOTALIRAQ

Angry protests in front of the Central Bank to demand a reduction in the dollar

Baghdad - Ibtihal Al-Arabi

Citizens protested yesterday, in front of the Central Bank building in the middle of Al-Rashid Street in Baghdad, after the currency exchange rate rose again and reached the threshold of 156 thousand dinars per hundred dollars, and demanded a reduction in the price of the dollar against the dinar. The security forces closed the street leading to the bank. Witnesses said that (the demonstrators held banners calling on the Central Bank to reduce the price of the dollar against the dinar, blaming it for the high exchange rate). The demonstrations coincided with continuous showers of rain, and the security forces closed Al-Rashid Street in anticipation of any emergency. The dollar exchange rate rose on the local stock exchange. The selling prices were recorded at 156,000 dinars per 100 dollars, while the buying prices of the dollar were 155,500 dinars per 100 dollars. And the bank decided earlier to adjust the exchange rate of the dollar against the dinar, as the price of buying a dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen was 1470 dinars per dollar.

[6ly410]

Economist: The dollar escaped from the government's control and its price will rise

• Time: 01/06/2023 15:13:38
•  
• Read: 7,306 times

 https://alforatnews.iq/news/خبير-اقتصادي-الدولار-أفلت-من-سيطرة-الحكومة-وسعره-سيرتفع 

{Economic: Al Furat News} An economist ruled out the government's control over the dollar exchange rate.

"The government has not yet controlled the movement of the dollar in the local markets," Nabil Al-Marsoumi told {Euphrates News} agency, expecting that "the exchange rate will continue to be above 1,500 dinars if an understanding is not reached with the US Federal Bank because there is an increase in dollar smuggling."
He added, "If this crisis is not resolved, the exchange rate will continue in its current position, or it may exceed this limit, unless the problem of bank transfers and the deliberate obstruction of the US Federal Reserve is resolved."
It is noteworthy that dozens of citizens organized yesterday a protest stand in front of the Central Bank of Iraq to demand the government to intervene in order to regulate the exchange rate of the dinar against the dollar, as the exchange rate on the black market exceeded 156 thousand dinars for every 100 dollars, while the authorities kept the exchange rate in the central bank at 146 thousand dinars for every 100 dollars.
It is noteworthy that the local markets have witnessed, two days ago, a return to a slight increase in the exchange rates of the dollar, despite its relatively low days ago, after a series of measures by the Central Bank of Iraq in selling foreign currency at a price of 1460 dinars to travelers exclusively, and at an amount of 10 thousand dollars via the MasterCard card.
In the bank's latest measures to control the price of the dollar, it announced last Monday the expansion of the number of bank outlets for selling foreign currency to 20 banks instead of 10 banks.
The bank said in a statement, "Increasing the amounts allocated to these banks weekly to meet the largest possible number of those covered by the purchase of foreign currency, in accordance with the instructions and controls issued by the bank."

Raghad Daham

[6ly410]

All eyes are on Sunday

A specialist draws a scenario for what the dollar needs to reach 170 dinars in Iraq

2023.01.06 - 15:14

A specialist draws a scenario for what the dollar needs to reach 170 dinars in Iraq (nasnews.com)

 

 

  

Baghdad - Nas  

A finance expert predicted that the dollar will fall next Sunday, because the Central Bank of Iraq will release $ 83.8 million in cash and $ 28 million in remittances.     

  

  

Omid Qardaghi, a professor of public finance at the University of Sulaymaniyah, said in a blog post followed by "NAS" (January 6, 2023) that "the Sudanese government seeks to preserve the value of the dinar against the dollar at any cost, angry with the demonstrators."  

  

"If the value of $100 reaches 170,000 Iraqi dinars, 3 million Iraqis will fall below the poverty line according to the approved classifications," Qardaghi said.  

[Officiallytook]

Knock it down until they reinstall purchasing power

[dinarham]

  The powers that be better listen up before the protestors wind up in their living rooms , because that is exactly what will happen .

[Bama Girl]

Uh Huh, I feel your pain boys and girls! 😒😡🙄

[yota691]

All eyes are on Sunday

A specialist draws a scenario for after the dollar reaches 170 dinars in Iraq

2023.01.06 - 15:14

 

Baghdad - Nas  

An expert in finance expected that the dollar would decline next Sunday, because the Central Bank of Iraq will release $83.8 million in cash, and $28 million in transfers.   

 

  

  

Omid Qardaghi, a professor of public finance at the University of Sulaymaniyah, said in a post followed by "NAS" (January 6, 2023) that "the Sudanese government seeks to preserve the value of the dinar against the dollar at any price, angry at the demonstrators."  

  

Qardaghi added, "If the value of $100 reaches 170,000 Iraqi dinars, then 3 million Iraqis will fall below the poverty line, according to the approved classifications."  

  

[yota691]

inflation and stagnation

Traders explain the repercussions of the rise of the dollar on the Iraqi markets

2023.01.07 - 08:32

 

Baghdad - Nas  

Reuters reported that the exchange rate on the black market rose to a record level of 158,000 dinars per 100 dollars, while the authorities kept the exchange rate in the central bank at 146,000 dinars per 100 dollars.  

  

  

  

Muhammad Al-Mansouri said to the agency's report, followed by "NAS" (January 7, 2023), that "since the start of the October Revolution, we have said no to the corrupt political class, from which we only reaped misfortune, destruction, murder, and bloodshed."  

  

He added, "Today, we cut off part of our demand, which is to reduce the price of the dollar, as its rise harmed the Iraqi citizen and affected the poor."  

  

He continued, "According to the controversial statistics of the Ministry of Labor, more than 42 percent unemployment in Iraq, and this segment was harmed because of the strength of the dollar."  

  

Price fluctuations and currency depreciation caused waves of inflation that hit the market hard.  

  

Abdullah Jabr (a shopkeeper) stated that "the rise of the dollar caused paralysis in the market, as the shopper comes to the market and finds the prices surprising, and they are increasing day by day."  

  

He said, "While the Iraqis are waiting for the rains, we find that the dollar reached 160, now 156, then 155 thousand dinars, and prices are rising by five and six figures, which are already high."  

  

A citizen named Abu Zahraa stated, "We have become forced to austerity. I mean, we no longer take one or two kilograms, but rather half a kilogram or three-quarters of a kilogram. There is no cheap commodity and everything has changed, and prices are getting worse day after day."  

  

A government employee called Ali pointed out the difficulty of the situation, saying, "We are going through difficult circumstances. The salary ends in the middle of the month, and the prices of meat and milk have increased. This means that we can no longer afford to buy anything, and we have been greatly affected by the dollar."  

  

Iraqi economist Kovind Sherwani believes that one of the reasons for the currency shortage is the sanctions imposed by the US Treasury Department on a number of Iraqi banks that contributed a large share in selling the currency.  

  

Sherwani added, "The first reason is the issuance of sanctions by the US Treasury Department on a number of banks that used to account for a large share of the window for selling the currency."  

  

As for the second reason, it is represented in the fact that the central bank has created an electronic platform for submitting requests to purchase currency by banks and exchange offices, and this platform has requirements imposed by the US Treasury and the US Central Bank. He points out that banks seem to be late in meeting these requirements.  

  

Sherwani attributes the problem to a third factor, which is the existence of speculation in the markets by some traders "who monopolize the currency and store it for other periods."  

[6ly410]

What is the relationship between industry and agriculture and the rise in the dollar exchange rate in Iraq?

•  Time : 2023/01/07 17:47:56
•  
•  What is the relationship between industry and agriculture and the rise in the dollar exchange rate in Iraq? - Euphrates News (alforatnews.iq)

  

{Economic: Al-Furat News} The impact of the concern about the rise in dollar exchange rates in the local market is of great concern to the competent authorities, including the Parliamentary Finance Committee.

 

A member of the committee, Mutsafi Al-Karawi {Al-Furat News} said: "The issue of rising dollar exchange rates needs to be radically solved through the materials consumed by citizens made locally and do not depend on imports, to prevent the impact of citizens' livelihood by the rise in dollar prices."
He warned of "the impact of neglecting the activation of the industrial or agricultural sectors in the country and the survival of the internal economy dependent on the external economy and dollar exchange rates."
Al-Karawi explained that "securing the livelihood of citizens internally will reduce the impact of fluctuating exchange rates on the living situation, which requires the government to balance between external and internal pressures and start drawing a plan to compensate and reduce this problem and its impact on the citizen."
For his part, an economist, Nabil Al-Marsoumi, ruled out the government's control over the dollar exchange rate, while he expected the exchange rate to continue above 150 dinars if an understanding is not reached with the US Federal Bank because there is an increase in dollar smuggling operations.
Dozens of five citizens organized a protest in front of the Central Bank of Iraq to demand that the government intervene in order to regulate the exchange rate of the dinar against the dollar, as the exchange rate on the black market exceeded 156 thousand dinars per 100 dollars, while the authorities kept the exchange rate at the Central Bank at 146 thousand dinars per 100 dollars.
The dollar exchange rate rose on Saturday in Baghdad.
The selling price was 156,500 dinars per $100, while the purchase price was 155,500 dinars per $100.

By: Raghad Daham

[Officiallytook]

On 1/7/2023 at 4:55 AM, yota691 said:

Sherwani attributes the problem to a third factor, which is the existence of speculation in the markets by some traders "who monopolize the currency and store it for other periods." 

Awedayumn they're talking about us holders and exchanges 😅

[6ly410]

 

Warnings of flooding the markets with dollars, which could cause an economic catastrophe

Posted 6 seconds ago

 

Warnings of flooding the markets with dollars, which could cause an economic catastrophe (iraqakhbar-com.translate.goog)

 

news source /Iraq Today Agency

 

Baghdad - Iraq today:

Economists have warned of the consequences of expanding spending under the influence of an unprecedented rise in monetary reserves, and they rule out the return of the exchange rate to the old one due to financing problems.

Professor of Economics, Nabil Al-Marsoumi, touched on the exchange rate crisis that will be present in writing the federal budget, and said in an interview with the official newspaper that “the reserves of the Central Bank exceed 99 billion dollars, which is the largest in its history, and therefore the problem is not in the supply of dollars, but rather the problem in bank transfers through The electronic platform established by the US Federal Bank with the Central Bank of Iraq,” noting that “this platform checks remittances and returns most of them while financing the country’s imports, which led to a significant decrease in currency auction sales to reach $120 million per day after it had exceeded $250 million.” .

Al-Marsoumi added that “the current measures are ineffective in light of the increase in cash sales, which now constitute from 75 to 80% of the currency window sales, while it was no more than 10% two months ago, which led to an increase in dollar smuggling outside Iraq to carry out transfers to merchants and importers, which means Also, increasing the exchange rate and raising the prices of goods and services, “usually,” the continuation of sales in this way that there will be a crisis in the dinar that the state needs to cover its expenses amounting to $ 7 billion per month, and therefore the central bank will be forced to issue a new monetary currency, which means increasing the volume of the monetary mass and raising commodity prices. and services.”

With regard to the return of the dollar exchange rate to the old rate, Al-Marsoumi explained that “returning to the old rate will cause the government to lose 40 trillion dinars from budgets when converting dollars into dinars at the old exchange rate, which will lead to a decrease in government revenues,” explaining that “in light of the high The big one in the 2023 budget, whose size reaches 180 trillion dinars, in light of the price of 1450 dinars, the deficit will reach 40 trillion dinars.

In turn, economic expert Jaafar Baqir Alloush said, according to the newspaper, that “the return of the dollar to its previous price of 1118 dinars is purely wishful thinking,” noting that “the expenditures amounting to 180 trillion dinars will be worth 124 billion dollars.”

Alloush added, "If the return to the previous price takes place, the expenditures will have amounted to 161 billion dollars, and the planned deficit will be approximately 50% of the budget value, meaning that implementing a budget in this way will cause a real disaster in the state's ability to fulfill its short-term obligations."

The expert called for "working to control the rhythm of the dinar and dollar movement channels through transfer mechanisms and the method of monetizing demand and expenditures, because without that, a disaster will come and the poorest groups in society will be affected."

For his part, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained to the newspaper, “There is a paradox in the economy today, between oil revenues that are the highest in the country’s economic history, which exceeded 116 billion dollars, and foreign reserves that touched 100 billion dollars, which is also the highest in the country’s financial history.” In addition to a surplus in the current account of the balance of payments, which may touch positive 15% of the gross domestic product, which is one of the large positive indicators indicating the strength of the country's external economic sector.

And Saleh added, “All of this is an external restriction for the departments of compliance and international oversight of dollar payments that are responsible for the flow of dollars from the country’s foreign deposits to cover the requests of the private sector in its foreign trade, especially imports, which is a sign that occurs for the first time after the economic blockade in the nineties of the last century.”

He stated that these procedures "come in light of the poor transparency of some of the Iraqi commercial community and its disclosure of its foreign trade in the dollar currency, which is the currency responsible for financing 85% of international trade, and because Iraq is located within the dollar area in its foreign trade."

[6ly410]

[Bama Girl]

When the article mentions the “old rate”, does anyone have an opinion which “old rate” they mean? 

[Half Crazy Runner]

1 hour ago, Bama Girl said:

When the article mentions the “old rate”, does anyone have an opinion which “old rate” they mean? 

My guess is the rate from December 2020. 1190 I think it was ..?

[horsesoldier]

What a 3 RING CIRCUS ...there are more clowns in Iraq than there are cars to squeeze them into.

[T B]

How the Hellllllll can they flood the markets when they never started with the right rate? forgive me!

[6ly410]

Economist: Iraqi-American talks await on the dollar exchange rate

Monday 09 , January 2023 10:18 |EconomicalViews: 94

Economist: Iraqi-American talks await on the dollar exchange rate (ninanews-com.translate.goog)

Baghdad /Nina/ Expert in economic affairs Salam Smaisem said: "There are expected talks to be held between Finance Minister Taif Sami and the US Secretary of the Treasury to develop solutions to the dollar rate." In a statement to the Iraqi National News Agency (
), Smaisim said: "The adoption of the budget faces great challenges that the government must expedite in solving them."
She explained: "The budget faces the challenges of monetary instability due to the disparity in the exchange rate of the dollar, the disparity in the price of a barrel of oil and other political issues, in addition to the absence of prior financial planning." noting: "This chaos needs a serious political decision to speed up the approval of the general budget for the implementation of stalled service projects." /Ends8
 

[6ly410]

Deputy: Parliament will summon the authorities responsible for the dollar exchange rate

• Today 09:22

dDeputy: Parliament will summon the authorities responsible for the exchange rate of the dollar | Information (almaalomah-me.translate.goog)

Kazem Altoki

Information / Baghdad...
Independent MP Kazem Al-Tooki confirmed that the House of Representatives will summon, during its next session of its new legislative term, the responsible authorities regarding the exchange rate of the dollar and its repercussions, and the most important real solutions to ensure the return of the price to its previous state.
Al-Touki said in a statement to Al-Maalouma, that "many members of the House of Representatives worked on all signatures in order to hold an extraordinary session with the aim of discussing the issue of the dollar's high exchange rate in the local markets, identifying its causes and repercussions, and knowing all its reasons."
He added, "Parliament will begin its new legislative session by holding a session in which the aforementioned issue will be discussed in order to summon the authorities concerned with financial affairs in order to find out the real treatments for the rise that occurred and restore the situation to its predecessor."
The government moved and took measures to reduce the exchange rate of the dollar, but this did not bring the desired results despite the distribution of currency to authorized banks of the same value, but the treatment was immediate and could not restore the exchange rate to its previous position," he said. Finished 25n