News, Rumors and Opinions Monday PM 3-27-2023
KTFA:
Clare: Planning: Recommendations to the Council of Ministers regarding the repercussions of the exchange of the dollar on the Iraqi market
3/27/2023
Today, Monday, the Ministry of Planning began discussing the effects of changing the exchange rate on the Iraqi market
And the ministry’s media mentioned in a statement received by {Euphrates News}, “The Undersecretary for Technical Affairs, Maher Hammad Johan, presided over an expanded meeting, with the participation of the Investment Authority and a number of government agencies, representatives of the Iraqi Contractors Union, the Iraqi Federation of Industries, the Baghdad Chamber of Commerce, and the Foundation for Sustainable Development.” ".
The statement added, "The meeting discussed a number of proposals and recommendations, which aim to address the repercussions of changing exchange rates on the economic and commercial movement."
He pointed out that "the ministry will submit its recommendations to the Council of Ministers during the coming period."
It is worth noting that the Prime Minister, Muhammad Shia' al-Sudani, had directed that the Ministry of Planning conduct a study of the effects of changing the exchange rate on the Iraqi market. LINK
DeepWoodz: Imo Here is your study….the higher the value of your currency, the better off are your poorest citizens. Duh
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Courtesy of Dinar Guru
Militia Man Everything we're seeing is phenomenal. They can't go back. They're gonna reprice at some point in time because they have to and I wouldn't be surprised if they are forced to talk about that very quickly...
Sandy Ingram Article: "Central bank sales exceed 800 million last week" Based on the Middle East News feeds it is important...The total sales of the Central Bank of Iraq through the window of selling hard currency to the dollar during the past week amounted to more than 800 million dollars. This news flash leads me to believe Iraq is becoming More and more like Panama each day, however Panama's currency is valued at 1 to 1 against the US dollar...Is Iraq hanging on to the US dollar so tightly because the foundation of their wealth is in US dollars? Meaning the oil revenue? ...this is a massive amount of exchange for the US dollar in one week.
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TNT:
Tishwash: Reveal the date of the oil and gas law legislation
The Oil, Gas and Natural Resources Committee in the House of Representatives revealed today, Monday, the date for the legislation of the Oil and Gas Law in Parliament.
Committee member Zainab al-Moussawi said, "There is an agreement between Baghdad and Erbil to legislate the federal oil and gas law," noting that "the House of Representatives will work to legislate it during the upcoming legislative chapters."
She added, "The Federal Oil and Gas Law guarantees the rights of the oil-producing governorates in the center and south."
And she indicated, "Discussions are underway about a draft law to finally resolve the differences between the center and the region," pointing out, "The law will include the delivery of oil revenues from the region, amounting to approximately 500,000 barrels per day, to the public treasury."
Legislation has been waiting for 18 years. An agreement between Baghdad and Erbil to approve the oil and gas law link
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