Iraq Economic News and Points to Ponder Tuesday Afternoon 3-5-24

Tlm724 Administrator Bondlady’s Corner

Economist: Implementing The Automation System Is A Devastating Blow To Money Smugglers

Economy | 03/05/2024   Mawazine News – Baghdad  Economic expert Abdul Hussein Tawfiq confirmed today, Tuesday, that implementing the automation system in the banking system is a devastating blow to money smugglers and corrupt people.

Tawfiq said in an interview with Mawazine News, “Implementing the electronic “automation” system is in the interest of Iraq and will generate abundant funds for it.”

He added, "The tone of Finance Minister Taif Sami was very nervous, which indicates the presence of parties obstructing the implementation of the automation system."

He pointed out that "implementing the automation system will enable the state to limit corruption and end smuggling operations."

Tawfiq pointed out that “implementing the automation system is a step in the right direction by the government.”

He continued: "We hope for the best if the automation system is implemented in Iraq and it will generate a lot of money for the state treasury."   https://www.mawazin.net/Details.aspx?jimare=243295

Iraq Will Export More Than 115 Million Barrels Of Crude Oil And Its Derivatives To America In 2023

Energy  Economy News _ Baghdad   The US Energy Information Administration announced today, Tuesday, that crude oil exports to the United States amounted to more than 115 million barrels during the past year 2023.

The administration said in a table seen by Al-Eqtisad News that Iraq exported crude oil and its products to America during the past year, amounting to about 115.263 million barrels.

She added that Iraq's exports of oil and its derivatives in December amounted to 6.922 million barrels, an increase of 1.571 million barrels from what they recorded in November, when they reached 5.351 million barrels.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America within 12 months amounted to 489.69 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 1.476 million and 373 thousand barrels during the same time period.

Views 68  03/05/2024 - https://economy-news.net/content.php?id=41135

Sudanese Discusses Areas Of Cooperation With The International Finance Corporation Delegation

Economy | 03/05/2024 Mawazine News – Baghdad   Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of supporting projects associated with the Development Road Project.

The Prime Minister’s Media Office stated in a statement received by Mawazine News, that “Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the International Finance Corporation (IFC), headed by the institution’s Vice President for Middle East Affairs, Hala Sheikh Ruhu.”

He explained, "The meeting witnessed a review of the areas and prospects of cooperation between Iraq and the institution, which is one of the institutions of the World Bank," stressing that "the government is continuing with economic reforms and measures to improve the investment environment, as well as implementing projects that contribute to increasing the gross domestic product and supporting non-profit sectors." Oil and empowering the private sector.

The Prime Minister called on the Corporation to open a training institute in Iraq that specializes in developing banking work, preparing economic models for projects, and supporting the Iraqi private sector’s trends in the cement and construction materials industry, with increasing demand following the progress of new city projects, as well as developing the capabilities of the General Company for Carbon Economics. Which Iraq is working to establish.

He stressed "the importance of supporting projects associated with the Development Road Project, as well as completing the discussion of plans prepared for the rehabilitation of Baghdad International Airport, which are sponsored by the Corporation."

For her part, Hala Rouho indicated, “The institution’s readiness to cooperate with Iraq in all fields, and appreciated the government’s role in expanding reforms and adopting a path that contributes to reducing carbon emissions,” pointing to “continuing work to implement plans to rehabilitate and expand Baghdad International Airport, and support sustainable development.” And promoting the growth of various economic sectors.”    https://www.mawazin.net/Details.aspx?jimare=243266

After The Recent Decline... Dollar Prices Are Rising Againgr

Economy |  3/05/2024  Mawazine News – Baghdad  The prices of the US dollar rose against the Iraqi dinar, today, Tuesday, in local markets.

The central Kifah and Harthiya stock exchanges recorded an exchange rate of 151,100 Iraqi dinars for 100 US dollars

, while the dollar exchange rates in banking shops and local markets reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=243250

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

Provoking Points to Ponder on Decisions 

The most important fact about Spaceship Earth: an instruction book didn't come with it. - R. Buckminster Fuller

Life is the only art that we are required to practice without preparation, and without being allowed the preliminary trials, the failures and botches, that are essential for the training of a mere beginner. - Lewis Mumford

Time has told me less than I need to know.  - Gwen Harwood

I learn by going where I have to go.  - Theodore Roethke

Life is like playing a violin in public and learning the instrument as one goes on.  - Samuel Butler

We don't have enough time to premeditate all our actions.  - Vauvenargues

Every year, if not every day, we have to wager our salvation upon some prophecy based upon imperfect knowledge.  - Oliver Wendell Holmes

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