KTFA:

Samson:  Al-Obaidi: The Iraqis Are Feeling Frustrated Because They Have Lost Hope In The Political System

21st July, 2022

The leader of the Alliance of Resilience, Khaled Al-Obaidi, confirmed today, Thursday, the extent of the frustration that Iraqis feel because of their loss of hope in the political system

Al-Obaidi wrote on Twitter, and Earth News followed him, saying that “the amount of frustration that Iraqis feel because of their loss of hope from the political system, holds all blocs, led by the brothers in the coordinating framework, a great responsibility to expedite the resolution of the issue of choosing the prime minister to start forming a government of services, investments and employment.  It sets clear and binding deadlines and time limits for itself to carry out its duties towards the Iraqis, and so that it is not a government of promises without promises  LINK

Samson:  The repercussions of the European Central's decision to raise the interest rate on the Iraqi economy

21st July, 2022

The economic expert, Sabah Alo, confirmed, today, Thursday, that the European Central Bank’s decision to raise the interest rate to 5% will affect the value of the Iraqi dinar, despite its stability during the current stage.

Alo said in a statement to (Baghdad Today), "The European Central Bank's decision to raise the interest rate to 5% indicates an increase in the monetary inflation process, as the euro will be clearly affected against other hard currencies."

He added, "This decision directly affects the rentier-economy countries that depend entirely on their sale of various kinds of wealth in dollars or euros, which will lead to an increase in the prices of imported and manufactured goods in European countries and America, where the monetary inflation situation is high." "Turkish and Iranian goods are currently on the rise, and this is a result of global inflation caused by the Russian-Ukrainian war," he added.

He pointed out that "Iraq will be directly affected by these global economic changes, as it does not carry out industrial and agricultural operations for the materials it needs, and this will lead to a decrease in the value of the Iraqi dinar despite its stability.

In return, the value of the dollar or the euro and the hard currency that Iraq receives as a result of selling oil or gas will be affected." It negatively affects the ethnic citizen. He pointed out that "the ethnic government must take measures to maintain a simple inflation rate that does not directly affect the livelihood of citizens."  LINK

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Samson:  The Turkish lira is at its lowest level in its history

07/21/2022 15:42:32

The Turkish lira recorded its lowest level in its history. The price of 100 dollars was 1768 pounds.

The Turkish Central Bank announced today, Thursday, that it will keep the interest rate at the level of 14%, and the decision came in line with analysts' expectations.

The Central Bank said after its meeting today: “The Monetary Policy Committee decided to keep the repurchase rate “repo” for a week at 14%.”   LINK

Samson:  Ukraine devalues currency by 25% against greenback amid war

21st July, 2022

Ukraine's central bank on Thursday devalued the national currency by 25% against the greenback in order to protect its foreign exchange reserves as the ongoing war continues to batter its economy. 

The move comes a day after it was reported that Ukraine had requested foreign debt payments from key creditors.

It altered the official exchange rate of the hryvnia to the US dollar by 25%, to UAH/USD 36.5686, according to a statement from the National Bank of Ukraine (NBU).

The decision was motivated by a shift in the fundamental parameters of the economy, it said. "This step will improve the competitiveness of Ukrainian producers, converge exchange rate conditions for different groups of businesses and households, and support the resilience of the economy during the war," it added.

The adjustment of the official hryvnia exchange rate will have only a limited impact on the acceleration of price growth, the central bank asserted, adding that "instead, fixing the official rate at a new, more stable level will allow the NBU to keep price developments in Ukraine under control."

"Changing the exchange rate will raise inflows – and thus sales – of foreign currency revenues by exporters, minimize the speculative behavior of market participants, and allow stabilizing exchange rate expectations," the bank said.  LINK

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Samson:  Britain Imposes A Ban And Sanctions On The Import Of Gold, Coal And Oil From Russia

21st July, 2022

The British government announced, this morning, Thursday, the imposition of a ban and sanctions on gold imports and the import of coal and oil from Russia

And the official statement was published on the British government’s website and stated, “This amendment prohibits the import of oil, petroleum products, coal, coal products and gold, as well as the purchase, supply and delivery of these products directly or indirectly

The ban on gold imports from Russia will come into effect on July 21, in addition to the ban on coal imports on August 10, 2022

The ban on oil imports will also enter into force on December 31, 2022  LINK