Iraqi Economic News & Points To Ponder Monday Afternoon  9-11-23

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: The Decision To Raise The Dollar Exchange Rate In The Previous Government Was Not Well Thought Out And Its Impact Was Negative On The Citizen

Monday 11, September 2023 22:01 | Economical Number of readings: 201

Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed that the decision to raise the dollar exchange rate in the previous government was not considered and its impact was negative on the citizen. He  said in an interview with a number of Iraqi satellite channels that the dollar is linked to many sectors and cannot be dismantled.

He added that the banking and financial sector He has not witnessed any reform process since 2003, and he explained that Iraq's trade is now reliable and real.

He continued that the Iraqi and Iranian central banks are working on a mechanism to regulate trade and break the back of the parallel market.

He explained that the tobacco trade has zero revenues despite it being the strongest trade.

He continued: We have real reforms for the financial sector, and the teams are working on that.

He said that the banks that were banned from dealing in dollars were supposed to be punished by the Central Bank

He added: There is an American understanding of all the measures taken regarding reforms from Iraq./End   https://ninanews.com/Website/News/Details?key=1077006

A Slight Increase In The Dollar Exchange Rates On The Baghdad Stock Exchange

Economy  Monday, September 11, 2023 Baghdad/National News Center  The exchange rates of the US dollar against the Iraqi dinar witnessed a slight increase, today, Monday, in the markets of the capital, Baghdad.

Exchange rates rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 154,100 dinars against 100 dollars, while the prices yesterday morning, Sunday, were 154,000 dinars.

Selling prices in banking shops in local markets in Baghdad reached 155,000 dinars per 100 dollars, while purchasing prices reached 153,000 dinars per 100 dollars.    https://nnciraq.com/226268/

How Do We Benefit From The Decisions Of The G20 Summit?

Samir Al-Nusairi   The G20 Summit began in the Indian capital, New Delhi, and concluded its work over two days in the absence of the Russian President and the Chinese President, and with the participation of the leaders of 28 countries, including the original members of the summit, in addition to the leaders of the countries invited by India to attend the summit.

The leaders participating in the New Delhi summit focused on many plans and solutions aimed at confronting global crises, most notably climate change - which threatened to exacerbate poverty, famines and humanitarian crises, and negatively affected sustainable development plans in a large number of countries, especially developing ones.

The summit’s agenda also discussed many issues. Important ones include ways to promote green development, finance plans to confront the effects of climate change, the European Union Environment and Climate Action Programme, promote strong and sustainable economic growth, the progress that has occurred in efforts to implement the United Nations Sustainable Development Plan, technological transformation and digital infrastructure, and the efforts of international institutions to promote development and shape...

The economies of the G20 countries account for about 85 percent of the world's gross domestic product, 75 percent of the volume of trade, and 60 percent of the world's population.

Among the most prominent goals of the G20 are to strengthen and develop the global economy, in addition to reforming international financial institutions and improving the financial system, supporting global economic growth, developing mechanisms for job opportunities, and activating free trade initiatives.

What concerns us in Iraq is how our economy can benefit from the goals and decisions of the summit in particular, and the Iraqi economy is suffering from many problems that are exacerbated as it is affected by the crises and challenges of the global economy, which is also suffering from expectations of the continuation of the food, energy and climate crises, the problems of the Russian-Ukrainian war, and the currency conflict of some major economic countries. Russia and China are working with the US dollar to limit its dominance in financial transactions and exchanges between countries.

Since the successful economic reform in Iraq is not only achieved internally, but rather it is achieved to the extent that the competent economic bodies in Iraq are able to achieve by building diverse financial, commercial and economic relations with the countries of the world, especially the G20 countries, with a focus on bilateral relations with the seven major industrial countries and member countries with emerging economies.

At the summit, which currently constitutes an important economic pole in the areas of investment, sustainable development, and building important financial and banking relationships in a way that regulates control over the monetary and commercial market in Iraq, the Central Bank has actually begun concluding banking agreements with India and China, and unremitting efforts are being made to conclude agreements with European countries.

Therefore, we believe that the decisions issued by the G20 Summit must be taken into consideration and study how to deal with them through analysis and discussion in the Ministerial Council for the Economy, preparing an analytical and evaluation report to be submitted to the Council of Ministers with recommendations, and setting a time plan for action to achieve activation and strengthening of the existing bilateral economic agreements with some G20 countries and research. For new agreements with countries with which we do not have relations in all fields, because our adherence to the global economic system and its international standard standards is the basic solution to our complex and accumulated economic problems 227 views  09/11/2023 https://economy-news.net/content.php?id=36245

Al-Sudani: We Are Continuing To Evaluate The Ministers, And There Is A Cabinet Reshuffle Soon That We Will Announce In The Coming Days

Monday 11, September 2023 22:13 | Political Number of readings: 165 Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani said, “We are continuing to evaluate the ministers, and there is a cabinet reshuffle soon that we will announce in the coming days.”

Al-Sudani added in a meeting with representatives of a number of Iraqi satellite channels: “All ministers are subject to evaluation, and we will work to change any minister who is proven.” His negligence in work, adding, “We are continuing to evaluate the ministers, and there is a cabinet reshuffle soon that we will announce in the coming days.”

He continued: “We will announce during this week the dismissal of 15 undersecretaries and advisors in the ministries.”

Al-Sudani said that the commitment to combating corruption is a practical reality and not a reality included in the promises.

He added that the will The fight against corruption exists, and there are no red lines in front of any file.

He continued: All reports made by members of Parliament regarding our corruption files are investigated, indicating that our anti-corruption procedures are professional.

Al-Sudani said that the principle of recovering funds and wanted persons has become a reality and countries have begun to respond to Iraq.

He added: For the first time, the corrupt feel that they are being pursued and that nationality will not protect them. Our relationship with countries depends on responding to this file, stressing that many of those wanted abroad have begun calling, and some of them have turned themselves in./End

https://ninanews.com/Website/News/Details?key=1077009

Masrour Barzani Receives The US Ambassador To Iraq

Today, Monday (September 11, 2023), Masrour Barzani, Prime Minister of the Kurdistan Regional Government, received Alina Romanowski, the US Ambassador to Iraq, and her accompanying delegation.

The meeting witnessed a mutual agreement on the importance of resolving problems between the Kurdistan Region and the federal government, under the umbrella of the constitution and through dialogue and negotiations.

The discussions centered on the constitutional and financial rights of the Kurdistan Region in the Federal General Budget Law, where Barzani indicated that there are parties seeking to deal with the region unfairly and outside the scope of the provisions of the Budget Law, despite the fact that the region’s negotiating delegation provided the relevant authorities in the federal government with accurate data and information. Based on legal and constitutional documents.

n another context of the meeting, the recent events in Kirkuk Governorate were discussed, with an emphasis on the necessity of normalizing the situation, the return of the headquarters of the Kurdistan Democratic Party, and maintaining the security and stability of the governorate.

https://www.radionawa.com/all-detail.aspx?jimare=35651

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Points to Ponder on Change:

“You must be the change you wish to see in the world.” - Gandhi

“Consider how hard it is to change yourself and you’ll understand what little chance you have in trying to change others.”  - Jacob M. Braude

“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”  - Charles Darwin

“The only thing constant in life is change.”  - Francois de la Rochefoucauld

“He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.”  - Harold Wilson

“Progress is impossible without change, and those who cannot change their minds cannot change anything.”  - George Bernard Shaw

“No change of circumstances can repair a defect of character.”  - Ralph Waldo Emerson

“Only the wisest and stupidest of men never change.”  - Confucius

“Change the changeable, accept the unchangeable, and remove yourself from the unacceptable.”  - Denis Waitley