News — Dinar Recaps Blog Page — Dinar Recaps (2024)

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CandyKisses: Sudani announces the opening of 48 power transmission stations and 152 electricity distribution stations in Iraq

{Political: Al-Furat News} Prime Minister Mohamed Shia Al-Sudani announced the opening and operation of 200 power transmission and electricity distribution stations.

The media office of the Sudanese in a statement received by {Euphrates News}, that "Sudanese announced the opening and operation of 48 transmission stations for electric power for ultra high and high pressure, and 152 power distribution stations in all provinces of Iraq."

"This is part of the first phase of a package of projects to solve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of provinces," he said.

Tishwash: Al-Sudani discusses with the New Generation bloc steps for economic reform

On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani discussed with the New Generation Bloc the government’s steps towards economic reform.

The Prime Minister's media book stated in a statement received by Al-Maalouma, that "Prime Minister Muhammad Shiaa Al-Sudani received members of the House of Representatives from the New Generation Bloc, and during the meeting, they discussed the general conditions in the country, the conditions in the Iraqi Kurdistan region, and discussed the government's steps in Implementing the priorities of its program in economic reform, providing services, and alleviating unemployment and poverty rates, in a way that helps achieve a development renaissance that will be reflected in the economic and social situation in general.”

He added, "The meeting witnessed an emphasis on the importance of coordination and integration of work between the executive and legislative authorities, which is in the best interest of the country, and also stressed the need for political forces to make the required efforts in addressing issues and differences in visions, with the aim of enhancing stability throughout Iraq and preserving the democratic approach." Which supports the state and its institutions.” link

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CandyKisses: Parliament finances talk about the deficit of the budget: we will adopt this mechanism to fill it

Economy News - Baghdad

Today, Thursday (May 30, 2024), the Parliamentary Finance Committee revealed the mechanism for bridging the financial deficit in the fiscal budget for the year 2024 sent by the government to the House of Representatives.

Committee member Moeen Al-Kazemi said that "the 2024 budget, according to the schedules sent by the government to the House of Representatives, amounts to (211) trillion dinars, and the government's oil and non-oil revenues amount to (147) trillion dinars, and this means that the deficit will be (64) trillion dinars, and we in the Finance Committee will follow up on this issue and give our perceptions regarding addressing the deficit in the upper limit."

Al-Kazemi indicated that "the government wants to address this deficit by borrowing from the Central Bank of Iraq in the amount of (20) trillion dinars and from other banks with a value of (5) trillion dinars and issuing new national bonds with (5) trillion dinars, and with a rise in oil prices, up to (16) trillion dinars, and for this we will have multiple meetings with the competent government agencies to find out the details of that process and how it is possible to fill the deficit away from borrowing and reduce it."

On Wednesday (May 22, 2024), the Parliamentary Finance Committee began holding its first meeting after receiving the 2024 budget tables, to review the budget tables and start studying them for the purpose of proceeding with their approval.

Later, the Finance Committee confirmed in a statement that it held its first meeting on the Federal Budget Law for the year 2024 with the aim of developing a comprehensive plan to review and analyze the budget tables and items related to them after their arrival from the Prime Minister's Office

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Tishwash: China: We support the development of Iraq's economy and are confident of securing our companies and individuals working there

On Wednesday, Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fouad Hussein, held discussions with Wang Yi, member of the Political Bureau of the Central Committee of the Communist Party and Minister of Foreign Affairs of the People's Republic of China, on the sidelines of the tenth session of the ministerial meeting of the Arab-Chinese Cooperation Forum currently held in Beijing.

During the meeting, Chinese Foreign Minister Wang Yi renewed his welcome to accept the invitation to visit Iraq, and also welcomed the holding of the joint Iraqi-Chinese committee meeting scheduled to be held in Baghdad.

The meeting discussed many bilateral issues of common interest between the two countries, including political, economic and military issues. China is Iraq's first trading partner and one of the largest importers of Iraqi crude oil, and it has a large number of companies working in various fields to advance the Iraqi economic situation.

Hussein touched on the development project launched by the Iraqi government, which links Iraq from the port of Al-Faw to Turkey and Europe in the north, and the possibility of aligning this strategic project with the Chinese Belt and Road Initiative, which Iraq joined in 2015.

Hussein stressed the Iraqi government's efforts to diversify the sources of the economy in the fields of agriculture and religious tourism, and called on Chinese companies to invest in the field of alternative energy and gas, noting that Iraq will play an important role in investing in associated gas.
They also discussed banking and financial cooperation between the two countries, as well as China’s support for Iraq to obtain financial financing for investment in infrastructure projects from the Asian Infrastructure Investment Bank, especially in development road projects.
The two sides appreciated the diplomatic efforts in opening the Iraqi Consulate General in Guangzhou and the Chinese Consulate in Basra, as well as welcoming the opening of the Beijing-Baghdad line of Iraqi Airlines.

Wang Yi stressed China's continued support for Iraq's efforts to preserve its sovereignty and develop its economy and in the field of combating terrorism and rejecting all foreign interference. He also expressed his confidence that Iraq will provide security guarantees to Chinese institutions, companies and individuals working in Iraq.

For his part, Fouad Hussein stressed the ongoing cooperation between the two countries in the field of mutual support for international positions, pointing to Iraq’s important role in improving relations in the countries of the region, especially in bringing the views between Saudi Arabia and Iran closer. He appreciated the Chinese efforts on all pivotal issues, including the Palestinian issue and its decisions. link

Iraq Economic News and Points To Ponder Late Wednesday Evening 5-29-24

The Central Bank Concludes A Symposium On Compliance And Anti-Money Laundering

May 29, 2024 The Central Bank of Iraq, Kurdistan Region Branch, concluded an educational seminar targeting workers in mediation companies for buying and selling foreign currencies within the geographical area of ​​the branch.

The organizers of the symposium presented the concepts of controls and instructions regulating the work of exchange and brokerage companies in the sale and purchase of foreign currencies, amended No. (1) of the year 2022, and

introduced the law on combating this phenomenon, No. (39) of 2015, as well as

explaining the concepts and mechanisms for the success of the project of merging brokerage companies in the sale and purchase of currencies.

Foreign companies to form exchange companies under categories (A and B) and provide modern banking services and expand them for the purposes of combating money laundering and terrorist financing in accordance with international requirements and standards.

This symposium comes within a series of specialized seminars and workshops organized by the Central Bank, focusing on combating the crime of money laundering and terrorist financing and regulatory requirements in accordance with compliance controls. Central Bank of Iraq information Office May 29, 2024 https://cbi.iq/news/view/2594

Association Of Banks: The Joint Committee With The American Side Will Begin Its Work Next Month

President of the Iraqi Private Banks Association, Wadih Al-Handal Economy News – Baghdad The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed on Wednesday the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next month.

Al-Handal said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “the Prime Minister’s recent visit to the United States of America had a great impact on the understanding with the American side,” indicating that “what is important in this understanding is the formation of the committee that will begin... Its first meeting is at the beginning of next June.

He added, "We are very optimistic about this committee, which will be concerned with correcting the situation and returning the banking sector as much as possible to what it was, including dealing with correspondent banks and other clear points at the Central Bank of Iraq, including compliance and training of human cadres, including requirements related to money laundering."

He continued, "What was mentioned above is adopted by correspondent banks, in addition to the standards of disclosure and transparency of sources of funds, and these are the ABCs known in banking, and we sense all the seriousness and have great confidence in the direction of the Prime Minister and the Central Bank of Iraq for this," pointing out, "We are working in the banking sector currently." "To open more horizons for working with correspondent banks."

165 views 05/29/2024 - https://economy-news.net/content.php?id=43828

Oil Prices Rise To More Than $84 Per Barrel

Economy | 09:28 - 05/29/2024 Oil prices rose during early trading on Wednesday, thanks to expectations that the main producers will continue production cuts at the OPEC+ alliance meeting scheduled for Sunday, as well as expectations of an increase in fuel consumption with the start of the peak demand season in the summer.

Brent crude futures for July delivery increased by 27 cents, or 0.3 percent, to $84.49 per barrel by 0042 GMT. US West Texas Intermediate crude futures for July rose 35 cents, or 0.4 percent, to $80.18.

Traders and analysts expect the OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, to maintain voluntary production cuts, which total about 2.2 million barrels per day. https://www.mawazin.net/Details.aspx?jimare=248806

Visa Reinvents Cards And Unveils New Digital Products

Launch of Visa Pay, a payments platform that delivers world-class digital mobile payments experiences

May 29, 2024 Last updated: May 29, 2024

Independent/- Today, within the framework of the activities of the annual Visa Payments Forum in the Central and Eastern Europe, the Middle East and Africa region,

Visa revealed a package of new products and services that herald a radical transformation in card services and meet the future needs of its customers, consumers, merchants and financial institutions throughout the region.

As payment methods have changed over the past five years from what they were previously, these new innovations will provide unique payment experiences to create a qualitative shift in commercial and financial activity, including e-commerce, in-store shopping, and money transfers.

On this occasion, Visa’s Regional President for Central and Eastern Europe, the Middle East and Africa, Andrew Torrey, said:

“The significant acceleration in the growth of digital payments across the Central and Eastern Europe, Middle East and Africa region has led to a major shift in the ways we pay and collect money online and in stores.

As we continue our mission to shape the future of commerce, we are excited to support our customers, partners, consumers and merchants with the next generation of pioneering digital payment experiences.

Today, we are unveiling new card features and digital innovations that will provide consumers and merchants with more personalized, convenient, secure and comprehensive solutions.”

Visa offers a range of innovative solutions that support digital identity, seamless payment experiences, flexible payments, accepting digital payments for microbusinesses, and protecting the security of account-to-account payments.

Additionally, Visa announced the launch of its new payments-as-a-service platform, Visa Pay, which provides world-class mobile experiences for digital payments and intra-remittance transfers across the Central and Eastern Europe and Middle East Africa regions.

This platform includes a comprehensive set of payment capabilities, and allows banks to deploy innovative and rapid solutions including digital card issuance requests, payment initiation order management, click-through payment, fraud and risk management, digital wallet platforms, and many more.

The new products and services Visa unveiled today, which will begin rolling out later this year, include:

Flexible Visa Credentials

The provision of flexible credentials from Visa will allow customers to switch between different payment methods using a single card, providing greater choice for customers who can now set specific payment criteria or choose one of the payment methods that include debit cards, credit cards, or pay in four instalments., redeem reward points, or even pay in another currency.

This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.

Accepting Payments From Micro Business Owners

With an estimated 120 million formal and informal small and micro business merchants unable to accept digital payments in the CEE region, Visa is developing new ways to enable digital payments using virtual cards and credentials.

In this context, the company this year will provide new methods of payment via mobile devices to all merchants, including:

* USSD Push Payments: Allows digital payments via any mobile phone that supports this feature.

* Small Business Owner Acceptance: This allows money to be transferred from consumer to merchant through smartphone devices.

* Mobile tap: Any device can now become a point of sale (POS) by simply tapping a card or digital credential.

Visa Payment Passkey Service

Identifying people in the digital world has become very complex; This has naturally led to a significant increase in fraud, with online payment fraud today being seven times higher than in-person payments.

Based on the latest Fast Verification of Identity Online (FIDO) standards, the Payment Passkey service can confirm a consumer's identity and enable online payment through a quick scan of their biometrics such as their facial features or fingerprint.

Visa passkeys replace one-time passwords or codes when shopping online, allowing for more seamless and secure transactions.

This service also confirms the consumer's identity without interrupting the payment process, as well as enhancing security levels and reducing friction when paying digitally - through any device or website - worldwide.

Click To Pay

Visa has launched Click to Pay to provide a more seamless and secure payment experience on a broader scale, where consumers only need their email, phone number or Visa payment passkey to complete online payments.

Additionally, Visa will collaborate with card issuers in several markets around the world to enable Click to Pay and Visa Payment Passkey services on new Visa cards, reducing manual entry of card details and passwords from the moment you start using the card.

The “Click to Pay” service is available today in the Central and Eastern Europe, Middle East and Africa regions.

Visa Protection for Account-to-Account (A2A) Payments

Visa processes more than 200 billion transactions annually and analyzes 500 data elements in each transaction to detect and stop fraud in real time.

By collaborating with real-time payments (RTP) networks around the world and leveraging decades of experience, Visa is working to use artificial intelligence to reduce fraudulent attempts in account-to-account payments across these networks.

Visa's P2P protection service has already identified 60% of fraud across real-time payments channels, which financial institutions in the UK and Latin America had not previously detected.

This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.

Visa Pay Platform

Visa Pay is a payments-as-a-service platform that allows banks to quickly launch a range of new digital services for consumers and sellers through their mobile banking apps to stay ahead of consumers' digital preferences.

This platform enables digital card issuance applications, payment initiation order management, pay-per-click, risk and fraud management, tokenization, digital wallet platforms, and issuer processing through a partner.

This platform allows banks to enhance their applications on mobile phones, as consumers will enjoy world-class user experiences via mobile phone to complete digital payments and financial transfers, as well as enhance security levels and reduce fraud attempts.

The Visa Pay platform is scheduled to be launched in the Central and Eastern Europe, Middle East and Africa regions in the coming months. https://mustaqila.com/visa-تعيد-ابتكار-البطاقات-وتكشف-عن-منتجات/

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

ProvokingThoughts and Points To Ponder on Character:

Always do right. This will gratify some people, and astonish the rest.-Mark Twain

He's an honest man - you could shoot craps with him over the telephone.-Earl Wilson

The man whose conscience never troubles him must have it pretty well trained.-Anonymous

Too often when conscience tries to speak, the line seems to be busy.-Anonymous

Generous people are rarely mentally ill people.-Karl Menninger

When wealth is lost, nothing is lost; When health is lost, something is lost; When character is lost, all is lost!-Anonymous

The great hope of society is individual character.-William Ellery Channing

Conscience is a treacherous thing, and mine behaves badly whenever there is a serious danger of being found out.-Margaret Lane

http://famousquotesandauthors.com/topics/character_quotes.html

http://famousquotesandauthors.com/

Goldilocks' Comments and Global Economic News Wednesday Evening 5-29-24

Good Evening Dinar Recaps,

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© Goldilocks

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Project Tourbillon explores anonymity for digital payments |Youtube

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Semler Scientific unveils strategy for Bitcoin Treasury |Crypto News

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Ripple and Axelar Foundation Partner to Enhance XRP Ledger’s Interoperability Across Blockchains |Axelar

Ripple and Axelar Foundation are partnering to bring seamless interoperability to the XRP Ledger (XRPL) across a diverse range of blockchain networks. XRPL is a decentralized, layer 1 blockchain with reliability and stability proven for over a decade that is trusted by businesses and builders globally for the efficient tokenization and exchange of crypto-native and real-world assets. This collaboration aims to drive forward a more interconnected blockchain ecosystem, offering developers new opportunities for integration and application development. Axelar’s network will serve as an additional resource to further broaden XRPL's utility and reach.

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Digital Asset Investor |Twitter

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Microsoft introduces Copilot bot for Telegram users; here's how it works -BusinessToday

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READ PDF HERE

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IMPORTANT Iraq Loosing Millions Each Month |Youtube

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European Commission Arm Says Convergence of Blockchain and AI Is ‘Upcoming Trend’ To Watch -The Daily Hodl

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Master of Science in Digital Financial Technologies (Fintech) |Kennesaw State University

Here is another one. Do you see a trend?

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Iraq Economic News and Points To Ponder Wednesday Afternoon 5-29-24

Economist: The budget is not affected by the dollar exchange rates... and explains why

Time: 05/28/2024 15:33:18 Read: 3,458 times {Economic: Al-Furat News} An economic expert ruled out that the financial budget was affected by the dollar exchange rates.

Bassem Jamil Antoine told Al-Furat News Agency, “The budget is not affected by the rise or fall of the dollar exchange rates, because Iraq will receive the dollar from oil exports, and on the contrary, revenues increase with the increase in dollar prices globally.” He stated that "market obligations are dealt with in the Iraqi dinar, and there is no dealing in the dollar, and the budget is built primarily on the Iraqi dinar and not on the dollar, so the budget is never affected by the dollar exchange rates."

https://alforatnews.iq/news/خبير-اقتصادي-الموازنة-لا-تتأثر-بأسعار-صرف-الدولار-ويوضح-السبب

The United States Ambassador Praises Iraq's Ratification Of The Electronic System

The US Ambassador to Baghdad, Elena Romanowski, praised Iraq's official ratification of the electronic payment system at the end of April.

Romanowski previously described this approval in her blog on the X-Twitter platform as great news.

He added that this step will pave the way for a modern financial system and economic growth, noting that this ratification was a joint effort by the United States Agency for International Development, the Central Bank of Iraq, and the United Nations Development Programme. https://www.radionawa.com/all-detail.aspx?jimare=38375

A Decline In Dollar Exchange Rates In Baghdad, Basra And Erbil

Wednesday 29, May 2024 10:55 | Economical Number of readings: 294 Baghdad / NINA / The exchange rates of the dollar against the dinar witnessed a decline this morning, Wednesday, in Baghdad, Basra, and Erbil. Below is a list of dollar selling prices: $100 = 144,900 dinars in Baghdad $100 = 144,950 dinars in Basra $100 = 144,900 dinars in Erbil.

https://ninanews.com/Website/News/Details?key=1129415

The British Ambassador: We have a desire to strengthen Iraq's friendship and support it in reconstruction

Economy News – Baghdad The British Ambassador to Iraq, Stephen Charles Hutchin, confirmed, on Wednesday, during his meeting with the President of the Republic, Abdul Latif Jamal Rashid, his country’s desire to strengthen cooperation with Iraq and provide support in construction and reconstruction.

The Presidency of the Republic stated in a statement, seen by Al-Iqtisad News, that “President of the Republic, Abdul Latif Gamal Rashid, received, today, Wednesday, at Baghdad Palace, the British Ambassador to Iraq, Stephen Charles Hutchin.”

According to the statement, Rashid stressed "the importance of strengthening bilateral relations between Iraq and the United Kingdom, expanding the horizons of economic, investment and technological cooperation, and joint work to confront climate and environmental changes."

He pointed out that "the security and political stability that the country is witnessing and their positive repercussions on the economic, service and living aspects," stressing Iraq's keenness to establish balanced relations with its regional surroundings in accordance with the principles of good neighborliness and in a way that preserves its security, stability and national sovereignty.

For his part, the British ambassador affirmed his country's "desire to strengthen relations of cooperation and friendship with Iraq and support it in the sectors of economic and social development, construction and reconstruction." Views 87 05/29/2024 - https://economy-news.net/content.php?id=43839

The Central Bank to NINA: The expansion of electronic payment operations will push towards the adoption of electronic signature in Iraq

Wednesday 29 May 2024 17:31 | Economical Number of readings: 340 Baghdad / NINA / The Central Bank of Iraq stressed the importance of proceeding with the adoption and implementation of the electronic signature project in Iraq.

Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in a statement to the National Iraqi News Agency ( NINA ): “The expansion of the use of electronic payment operations will impose the need to implement the electronic signature.”

He added: "The need for paper signatures in government transactions and official papers will diminish in the future, until the need disappears completely with the expansion of the use of electronic payment processes and electronic signatures in daily transactions. There will be an obligation to amend laws or implement previous legislation related to electronic signatures."

Last March, the Ministry of Communications announced that 90% had been achieved in the electronic signature project, which aims to include Iraq in the list of countries in the world whose electronic transactions are recognized as reliable, upon adopting the electronic signature in these transactions, which can be issued to any citizen or governmental or private entity.

Desiring to obtain it by obtaining the internationally accredited electronic certification certificate, which will be issued by the Ministry of Communications in accordance with the law.

She explained: “Adopting the electronic signature in administrative and financial transactions in Iraq will contribute to simplifying procedures and supporting the government’s orientations towards digital transformation. And reducing financial and administrative corruption.”/End 5 https://ninanews.com/Website/News/Details?Key=1129504

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

ProvokingThoughts and Points To Ponder on Character:

He liked to like people, therefore people liked him.-Mark Twain

Generous people are rarely mentally ill people.-Karl Menninger

The great hope of society is individual character.-William Ellery Channing

You must look into people as well as at them.-Lord Chesterfield

Human improvement is from within outward.-James Froude

Talent is nurtured in solitude; character is formed in the stormy billows of the world.-Goethe

When wealth is lost, nothing is lost; When health is lost, something is lost; When character is lost, all is lost!-Anonymous

Every man has three characters - that which he exhibits, that which he has, and that which he thinks he has.-Alphonse Karr

Not in the clamor of the crowded street, Not in the shouts and plaudits of the throng, But in ourselves, are triumph and defeat.-Henry Wadsworth Longfellow

Who knows nothing base, Fears nothing known.-Owen Meredith

In men whom men condemn as ill I find so much of goodness still, In men whom men pronounce divine I find so much of sin and blot I do not dare to draw a line Between the two, where God has not. -Joaquin Miller

In this world a man must either be anvil or hammer.-Henry Wadsworth Longfellow

http://famousquotesandauthors.com/topics/character_quotes.html

http://famousquotesandauthors.com/

Iraq Dinar-IQD-Update-Digitial Transformation-New Cash Denominations-IMF-Ratification-Electronic Pay

MilitiaMan and Crew: 5-29-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=nA7JGVwfxTQ

TNT:

CandyKisses: Oil rises amid expectations of major producers maintaining production cuts

Economy News _ Baghdad

Oil prices rose in Asian trading on Wednesday amid expectations that major producers will maintain production cuts at Sunday's meeting, and that fuel consumption should start rising at the start of the peak demand season in the summer.

Brent crude futures for July delivery rose 15 cents, or 0.2 percent, to $84.37 a barrel by 0304 GMT. U.S. West Texas Intermediate crude futures for July rose 25 cents, or 0.3%, to $80.08.

Both benchmark crudes rose more than 1% the previous day.

Traders and analysts expect the Organization of the Petroleum Exporting Countries and its allies including Russia, known as the OPEC+ group, to maintain voluntary production cuts totaling about 2.2 million bpd.

Monday's Memorial Day holiday marks the start of peak demand in the United States, the world's biggest oil consumer, and maintaining production cuts would keep prices supported as consumption rises.

Increased fighting in the Gaza Strip as Israeli tanks advance into the heart of the Rafah Strip has also provided some price support amid fears that the conflict could spill over into the greater Middle East, the main supply area.

Investors are also awaiting U.S. crude inventories data from the American Petroleum Institute, which will be released later in the day. The release of the data was delayed by a day due to the Memorial Day holiday on Monday.

A preliminary Reuters poll on Tuesday showed U.S. crude oil inventories were expected to fall by about 1.9 million barrels last week.

Investors are also awaiting US inflation data this week which could weigh on expectations of a rate cut from the Federal Reserve and weigh on oil prices.

The US Core Personal Consumption Expenditure Price Index (PCI) report for April is due on Friday. The Fed's preferred inflation gauge is expected to remain flat on a monthly basis.

Expectations about the timing of the rate cut have fluctuated, with policymakers concerned as the data still reflects flat inflation

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CandyKisses: Al-Sudani chairs the second meeting on the follow-up of agreements and memoranda concluded with Turkey

Baghdad /Nina/ Prime Minister Mohammed Shia Al-Sudani chaired the second meeting on the follow-up of agreements and memoranda concluded with Turkey, during the recent visit of the Turkish President to Iraq.

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CandyKisses: Good news regarding the federal budget

Shafaq News / The coordination framework held a meeting on Tuesday in the presence of Prime Minister Mohamed Shia Al-Sudani.

A statement after the meeting said that the meeting deliberated on the financial budget tables and stressed the need to approve them to achieve the interests of citizens and support the economic situation.

The meeting also stressed the importance of proceeding with the election of the Speaker of the House of Representatives as soon as possible.

A political source revealed to Shafaq News Agency on Monday that the reason for the meeting is due to objections to the budget tables sent by the Iraqi government, by the framework forces and refused to pass them in their current form.

The government had sent the budget tables to parliament for a vote after a delay of more than five months as a result of technical problems centered on the size of the deficit, and the government's attempts to reduce it.

There was controversy over the budget tables after allocating an investment budget to the provinces amounting to 41 trillion Iraqi dinars, which some saw as unfair to the provinces by reducing their quotas in exchange for increasing the Kurdistan Region's share of 4 trillion, which the government denied.

The 2024 budget, according to Prime Minister Mohamed Shia Al-Sudani, is 211 trillion dinars, and the salaries of employees for the year 2024 amount to 62 trillion dinars, while the budget for 2023 was 199 trillion dinars and the salaries of employees 59 trillion dinars.

The revenues of the 2024 budget are estimated at 144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars

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Tishwash: Parliamentary Finance announces the necessity of maintaining the economic foundations in the budget

Iraq Economic News and Points To Ponder Late Tuesday Evening 5-28-24

With The End Of Her Duties Approaching...Plasschaert: I Thank All Iraqis And My Deep Appreciation For The Cooperation And Support...Long Live Iraq

Tuesday 28, May 2024 18:59 | Political Number of readings: 181 Baghdad / NINA / The United Nations envoy to Iraq, Jeanine Hennis-Plasschaert, today, Tuesday, sent a message on the occasion of the approaching end of her term in the country, in which she extended thanks and gratitude to all Iraqis.

Plasschaert said in her message, according to a statement by the United Nations Mission in Iraq (UNAMI): “As my term as Special Representative of the Secretary-General in Iraq approaches its end, I would like to express my deep gratitude and appreciation to all Iraqis, especially those I have met and worked with.”

She added, "Over the past five years, I have been repeatedly touched by the generosity and hospitality of a people who have never deviated from their traditions of welcoming a stranger or helping the needy, even if it was at the expense of their comfort or time. I have learned a lot from listening to Iraqi women and men as they recount their history with pride." ".

She pointed out, "Although many faced serious challenges, optimism for the coming days was always bright. They welcomed me and my other colleagues at the United Nations in their cities and homes, and invited us to join them in a meal or event. They did not miss an opportunity to highlight Iraq's rich culture and enormous beauty, and in every way."

Across the country, including the Kurdistan region, countless people of all ages spontaneously shared, again and again, their hopes and aspirations, and I will never forget any of them.”

She continued, "I truly appreciate the professional meetings and discussions we had with a wide range of partners, from civil society representatives, academics, tribal leaders, and religious leaders to local authorities, governorate authorities, national authorities, judges, security officials, and politicians. It goes without saying that their opinions and viewpoints have taught us a lot and guided our work." .

Plasschaert pointed out that "some of these meetings included people who put aside daily differences to find solutions in the critical stages of Iraq. All of these interactions left an indelible impression on me. I cannot overstate our gratitude to the various agencies of the Iraqi government, which facilitated our work, through the efforts "She tirelessly protected the United Nations staff and its operations."

“None of this means that the United Nations has been immune to criticism – some of it justified, some of it simply based on misperceptions about who we are, and what we can and cannot do,” she stressed. “But talking to those who understand the organization’s values ​​and what it stands for was important.” Very productive. As I have said many times, the United Nations does not have a magic wand.

Ultimately, the balance between conflict and peace, or poverty and prosperity, depends on the political will of countries, but if we can make a difference in people’s lives, it is worth intensifying the work and continuing. In the end, the United Nations has one major priority at its core: to promote peace and prosperity for all – regardless of affiliation, religion, background or race.”

Plasschaert concluded her message by saying, “Once again, I would like to express my deep appreciation and thanks for the generous cooperation and support provided to the United Nations Assistance Mission for Iraq (UNAMI) and the broader United Nations family in Iraq, and to me personally.. Long live Iraq.”/End 8 https://ninanews.com/Website/News/Details?Key=1129285

More Than $283 Million In Iraqi Central Bank Currency Auction Sales

Economy News – Baghdad On Tuesday, the Central Bank of Iraq's dollar sales amounted to more than $283 million at the currency auction.

The Central Bank sold in its auction today 283 million and 73 thousand and 871 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,305 dinars per dollar in cash.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 261 million 993 thousand and 871 dollars, an increase of 94% over cash sales amounting to 21 million and 80 thousand dollars.

The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 7 banks, and the total number of exchange and brokerage companies participating in the auction was 176 companies. Views 79 05/28/2024 https://economy-news.net/content.php?id=43786

Parliamentary Finance Stresses The Importance Of Supporting The Government In Implementing The Government Program

Oil Prices Stabilize With A Balance Between Production Expectations And Interest Concerns

Arab and international Economy News - follow up Global oil prices stabilized on Tuesday, as the possibility of OPEC+ maintaining oil supply restrictions at its meeting on June 2 and expectations of strong fuel demand from the United States during the summer helped balance concerns about the continued rise in US interest rates for a longer period.

Oil prices rose more than 1 percent yesterday, Monday, in quiet trading due to public holidays in Britain and the United States, with expectations of increased demand from the United States with the beginning of the summer holiday season.

Brent crude futures for July rose 38 cents, or 0.5 percent, to $83.48 a barrel by 13:27 GMT.

US West Texas Intermediate crude futures also rose $1.43, or 1.8 percent, to $79.15, compared to Friday's settlement price, after it was traded during an American holiday without settlement.

Charalambos Pisouros, an analyst at brokerage firm XM, said: “Oil has recovered recently, and this may be driven by expectations of strong demand for fuel with increased vehicle driving times during the summer holiday season.”

“Despite the indisputably brighter mood we have seen in the past two days, interest rate concerns will act as a brake on further attempts to raise oil prices significantly in the near future,” said Tamas Varga of brokerage BVM.

All eyes are on the next online meeting of the OPEC+ alliance on June 2, as traders and analysts expect voluntary production cuts to continue at 2.2 million barrels per day.

“The assumption that there will be no changes in production levels is a fair assumption,” Varga said.

Views 56 05/28/2024 - https://economy-news.net/content.php?id=43803

Trade Exchange Between Iraq And China Exceeds 50 Billion Dollars

Economy | 05/28/2024 Baghdad - Mawazine News The Ministry of Foreign Affairs announced on Tuesday that the volume of trade exchange with China exceeded $50 billion in two years.

Deputy Foreign Minister for Political Planning Affairs Hisham Al-Alawi said, “Arab-Chinese relations are important, as the volume of financial cooperation has reached about 400 billion dollars,” pointing out that “China is the largest trading partner and the exchange volume has exceeded 50 percent.”

He added, "The volume of trade exchange between Iraq and China during the past two years amounted to more than 50 billion dollars," noting that "there is advanced cooperation between Beijing and Baghdad in the field of oil and gas, in addition to renewable energy."

https://www.mawazin.net/Details.aspx?jimare=248767

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

Provoking Thoughts and Points to Ponder on Money

Money is the poor people's credit card.-Marshall McLuhan

A man is rich in proportion to the things he can afford to let alone.-Henry David Thoreau

Money is like a sixth sense, and you can't make use of the other five without it.-W. Somerset Maugham

Money swore an oath that nobody who did not love it should ever have it.-Irish proverb

I'm so happy to be rich, I'm willing to take all the consequences.-Howard Ahmanson

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Where The Price Of Oil Is Just $15/Barrel

Notes From the Field By James Hickman (Simon Black) Tues May 28 2024

In the year 1712, an English ironworker and part-time Baptist preacher named Thomas Newcomen finally put the finishing touches on a new invention that had been more than a century in the making.

Newcomen called it the ‘atmospheric engine’, and it was essentially a very crude, rudimentary steam engine that he used to pump water.

The idea had existed since the early 1600s, and a number of inventors had attempted to create something similar. But Newcomen was the first to develop a functioning engine, and his key breakthrough was including a fuel source (wood) to heat up water and create steam.

It’s remarkable that, even to this day, most automobile engines, generators, and electrical power plants still rely on Newcomen’s basic concept: burn a fuel to create heat, then harness that heat energy to generate motion and mechanical work.

Obviously, the design has been much improved since then; James Watt perfected Newcomen’s invention decades later with the first commercially viable steam engines (which ultimately kicked off the Industrial Revolution).

Inventors also discovered far more efficient fuel sources.

Coal, for example, was found to have more than twice as much heat energy per pound than wood… which is a key reason why coal became the most important commodity of the 1800s. But other commodities like oil and gas were later discovered to be even more fuel efficient than coal.

Today all three are still used in vast quantities. In fact, coal-fired power plants still produce over 2,300 gigawatts of electricity worldwide, which constitutes about 30% of global electricity production capacity.

Natural gas is also responsible for nearly 2,000 gigawatts (in addition to its widespread use in heating). And oil is clearly the most dominant fuel source for internal combustion engines which power global transportation.

Now, at the end of the day, all three commodities serve essentially the same purpose, i.e. they are fuel sources whose heat energy is harnessed to perform work. And because of this, their heat energy should be priced more or less the same.

For example, a barrel of oil contains the equivalent of 5.6 million British Thermal Units (BTUs) of heat energy. So, at a price of roughly $80 per barrel of oil, this is the equivalent of about $14.28 per million BTUs of heat energy.

Oil prices do vary from place to place. But the differences are fairly minor; the West Texas Intermediate price (used primarily in the US) is slightly lower than the Brent oil price (used primarily in the North Sea), but they are within a few percent of each other.

But natural gas is a totally different story.

In Europe, for example, natural gas prices are significantly higher than they are in the US and currently trade for roughly $9.12 per million BTUs. And only a few months ago, natural gas prices in Europe were nearly $14 per million BTUs, i.e. almost equivalent to oil price when measured in dollars (or euros) per million BTUs.

But natural gas prices in the US are dramatically lower than they are in Europe… and it’s easy to understand why: the US has some of the biggest natural gas reserves in the world, while Europe has almost nothing by comparison. (This is why Europe is so reliant on Russian gas).

And since Joe Biden has banned the exporting of LNG (liquefied natural gas) from the US, there’s basically nowhere for all that excess US natural gas to go.

This is why prices in the US are less than $3, versus more than $9 in Europe. If US producers were free to export, prices in the US would rise, prices in Europe would fall, the global natural gas prices would be more or less the same, just like global oil prices.

But, at least for now, LNG exports are banned… and that keeps prices incredibly cheap in the US. How cheap exactly?

Well remember that $80 oil is the equivalent of $14.28 per million BTUs of heat energy. US natural gas prices are $2.77 per million BTUs of heat energy. So, based on the price per million BTUs, natural gas is about 80% cheaper than oil in the United States.

Another way to say it is that US natural gas is priced at the equivalent of $15 for a barrel of oil… which makes US natural gas the most underpriced conventional energy commodity in the world.

Now, I say “conventional” because there is another option that blows natural gas away-- and that’s nuclear.

The energy released in a nuclear reaction from just a single cubic foot of uranium is literally FIFTY BILLION times greater than the energy released from burning an equivalent amount of natural gas. So, nuclear is, by far, the cheapest and most efficient energy… which is why China, India, Russia, etc. are all feverishly building nuclear power plants.

The West, by comparison, is shutting their nuclear plants down. It is the dumbest policy imaginable.

So, at least for now, natural gas is America’s cheapest energy source. But it probably won’t stay that way for long.

First, large tech companies, which are building massive, energy-hungry AI data centers, are also looking at putting in their own power plants… which will most likely be powered by natural gas.

This increased demand will certainly have a big impact on price.

The second catalyst is that the export ban probably won’t last. There are lawsuits, legislation, and an upcoming election, any one of which could reverse the ban and start up LNG exports once again. When this happens, US natural gas prices could quickly rise

In either case, natural gas producers stand to benefit substantially from higher prices. And it just so happens that shares of many of the best quality producers right now are laughably cheap, with low multiples relative to earnings, book value, and Free Cash Flow.

We’ll talk about this more in the future, but our core view is that it makes a lot of sense to own ‘real assets’, i.e. scarce, high quality, productive assets that the world truly needs (and cannot be conjured out of thin air by central banks.)

Energy commodities like natural gas, and their highest quality producers, definitely fit that description, with the added benefit that they’re dirt cheap right now.

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

P.S. If you’re interested in more analysis on this theme, including our best research on some of the most deeply undervalued real asset producers in the world, consider giving The 4th Pillar, our real-asset focused investment newsletter, a try.

https://www.schiffsovereign.com/trends/where-the-price-of-oil-is-just-15-barrel-150883/

Goldilocks' Comments and Global Economic News Tuesday Evening 5-28-24

Good Evening Dinar Recaps,

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Digital Vs Electronic Records Management Explained |Armstrong Archives

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Digital Payments - Worldwide |Statista Market Forecast

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Iraq 7 Factors to Increase Iraq's Currency- Iraqi News |Youtube

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US Ambassador to Iraq Alina Romanowski commended Iraq for its official ratification of an electronic payment system at the end of April. |Shafaq News

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"The implementation of electronic procedures by the Central Bank of Iraq under the supervision of the US Treasury Department had a clear impact on economic growth as well as on the decline in the value of the dollar against the Iraqi dinar." |Shafaq News

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International Monetary Fund mission for the current year 2024 for Article Four consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.

The report indicated that the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.

Adding that the Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an economic environment. More stable.

The report emphasized that important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.

The report noted that Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, as well as the role of the Central Bank of Iraq in expanding relations. Correspondent banking, to facilitate smoother international trade financing operations.

Central Bank of Iraq
Information Office
May 27, 2024

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The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask. |Economy News

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Financial Services Providers Highlight Opportunities in Cloud-Native Banking |Pymnts

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Stablecoins and Economic Stability: A Balancing Act -Daijiworld

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A flood of cheap Chinese exports is putting the entire global economy at risk, France’s finance minister warns |Fortune

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MoMo, VNPAY, and ZaloPay Enable QR Payments for Visa Cardholders in Vietnam -Fintech Singapore

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What the SEC's Pivot To Approve Spot Ether ETFs Means |Investopedia

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SWIFT |Swift

Register now to explore the transformative journey that ISO 20022 offers for the future of payment systems around the world.

Swift’s Tom Dunbar will be joined by Mel Gauci from the Australian Payments Network, and Christine Orina from the Central Bank of Kenya, to discuss market standards for ISO 20022, and how these will bolster financial stability and spur innovation.

Join us to learn more about this exciting topic!

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Thank youDinar Recaps

Iraq Economic News and Points To Ponder Tuesday AM 5-28-24

Central Bank: The Issuance Of New Monetary Denominations Will Not Affect The Dinar Exchange Rate

May 27 Information / Baghdad Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.

Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.”

He added, "The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations."

He explained, "If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar." Ended / 25 AD

https://almaalomah.me/news/65796/economy/البنك-المركزي:-صدور-فئات-نقدية-جديدة-لن-يؤثر-على-سعر-صرف-الد

Specialists Identify A Number Of Factors To End Sanctions On Iraqi Banks

Economical 05/28/2024 Baghdad: the mainstay of the emirate Financial and economic affairs specialists have identified the correct frameworks that must be taken to address the sanctions that affected a number of banks by the US Treasury, stressing that

those frameworks that should be followed with the aim of mitigating or canceling the sanctions are to improve the level of banking compliance in Iraq within the scope of harmony in the international banking and financial market. In accordance with the best standards,

stressing at the same time the need to work seriously to restructure the Iraqi governmental and private banking system according to a coordinated road map.

The meetings conducted by the Prime Minister, Muhammad Shiaa Al-Sudani, during his visit to Washington last month, witnessed joint understandings regarding the sanctions imposed on a number of Iraqi banks,

which led a number of specialists to suggest that the results of that visit would result in easing or canceling the sanctions, especially after The Treasury’s assurances to the Prime Minister that 80% of transfers are in accordance with international standards,

while the official visit, which witnessed the participation of the private sector, was met with a broad parliamentary welcome, confirming support for government efforts that seek to achieve the interests, sovereignty and prosperity of the people, while the Finance Committee in the Council of Ministers expressed Representatives, and in the words of its president, Atwan Al-Atwani,

“its full support for the positive understandings that resulted from the visit to Washington, and within the framework of the shift in the relationship between the two countries from the security and military aspects to the areas of development, reconstruction, economy, and investment.”

According to the vision of the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Saleh, during his speech to Al-Sabah, there are two directions to address or reduce these sanctions.

The first is to move towards improving the level of banking compliance within the scope of harmony with the international banking and financial market and in accordance with the best standards and practices. approved in the world, and

this is what all national banks are working on in cooperation with the monetary authority and its supervisory role in this The matter. Saleh pointed out that the

second trend, which would address or limit the sanctions, requires us to begin restructuring the Iraqi public and private banking system according to a coordinated road map and long-term visions in cooperation with international expert houses to put the banking system on modern competitive foundations and make it enjoy efficiency and governance.

And to be able to deal better with the development of digital payment systems and financial technology in a way that serves the provision of opportunities for stability and economic growth in our country, as well as optimal integration with the international financial market, which in all circ*mstances encourages all investment climates and attracts foreign investment to work in the fields of development and economic progress in our country. .

For his part, the specialist in financial affairs, Dr. Mahmoud Dagher, stated during his speech to “Al-Sabah” that the

sanctions or denial of access to the dollar were taken before the Prime Minister’s visit to Washington, but in the end nothing was achieved and we did not notice any progress except that in the next month of this year it will be

There is a committee from the Central Bank of Iraq, the US Federal Reserve, and the Treasury that is preparing a road map for reforms, that is, to address the situation of sanctions. He continued,

“We from the beginning noticed that there was nothing to prove what the mistake had been committed.” Drains.

Dagher praised the moves taken by the government and the Central Bank to try to correct the situation, which will need some time in order to reach joint understandings, and there are skirmishes between the two parties, and he stressed that the solution to this situation is through political understanding.

https://alsabaah.iq/97361-.html

The International Monetary Fund Praises The Monetary Policy Of The Central Bank Of Iraq

Monday, May 27, 2024 2:55 PM Baghdad/National News Center On Monday, the International Monetary Fund praised the monetary policy of the Central Bank of Iraq.

According to the report issued by the International Monetary Fund mission for the current year 2024 for Article 4 consultations, the Iraqi government’s measures will be more severe, including the monetary policy led by the Central Bank of Iraq. The report indicated that

“the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.” It added that

“the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks’ mandatory reserve requirements from 15% to 18%.” %, and

these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.”

he report emphasized that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”

The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”

https://nnciraq.com/256541 /

Investment And Its Development Impact

Economical 05/28/2024 Muhammad Fadel Al-Khafaji Investment in Iraq is considered one of the main factors that contribute to the development of the economy and raising economic growth rates in the country,

due to its numerous and abundant natural resources, and it has a strong industrial base and infrastructure that supports the expansion of investments in various sectors, and local and foreign investments can have a job opportunity. Renewable, achieving real mutual benefit for all parties.

Investing in building countries is necessary to achieve progress and prosperity.

When investments are directed towards areas such as education, health, and infrastructure, the standard of life improves for citizens and job opportunities and economic growth increase.

Investing in Iraq represents an opportunity for companies and investors to achieve significant financial returns and expand the scope of their business, as the market provides

The huge and growing Iraqi capital offers diverse and rewarding investment opportunities in various sectors such as industry, agriculture, tourism, and infrastructure.

Enhancing confidence between national and international investors is extremely important and achieves results that serve the country,

especially when there is a stable and favorable investment environment, which encourages increasing the volume of investments and developing local industries and goes towards expanding the circle of benefits that enhance the country’s financial capabilities.

It is no secret to everyone that investment contributes to building countries, achieving sustainable development, and enhancing economic and social stability, by directing investments towards developing skills and promoting innovation and scientific research.

Developing countries can advance their economies and break out of the cycle of poverty and underdevelopment,

so governments, the private sector and civil society must We work together to create a stimulating investment environment that contributes to building the country, achieving sustainable development, and providing better life opportunities for all.

Investments contribute to achieving economic and social stability in the country, as investments can provide job opportunities for young people, reduce unemployment rates, enhance cooperation between the public and private sectors, and raise rates of sustainable economic growth.

In addition to the possibility of strengthening infrastructure and raising the level of public services such as education, health and transportation in Iraq, here

we must realize the importance of working to create an attractive environment for investment and its success. https://alsabaah.iq/97362-.html

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

Provoking Thoughts and Points to Ponder on Advice :

But one must know where one stands, and where the others wish to go.-Goethe

No man ever listened himself out of a job.-Calvin Coolidge

Thanksgiving comes after Christmas.-Peter Kreeft

The proverb warns that, "You should not bite the hand that feeds you." But maybe you should, if it prevents you from feeding yourself.-Thomas Szasz

I remember my father telling me the story of the preacher delivering an exhortation to his flock, and as he reached the climax of his exhortation, a man in the front row got up and said, 'O Lord, use me. Use me, O Lord - in an advisory capacity!'-Adlai Stevenson

http://famousquotesandauthors.com/topics/advice_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

TNT:

Tishwash: Central Bank: The issuance of new monetary denominations will not affect the dinar exchange rate

Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.

Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.”

He added, "The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations."

He explained, "If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar." link

VictorD: IMO, they can release all the paper currency they want, at any rate they want, it will not effect the currency value, just like the article states because it is controlled by the CBI. What effects the currency value is what the CBI sets it to or if it floats, the float value. Once the currency floats, it's a whole different ball game.

Tishwash: Adviser to the Prime Minister: Iraq's position in the World Summit Forum was prominent

The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed that Iraq’s position in the World Summit on the Information Society Forum was prominent.

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CandyKisses: Al-Atwani: Employees' salaries, appointments and contracts are secured in the budget

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Tishwash: Expert: The Iraqi economy is witnessing remarkable growth, which was contributed to the decline in the dollar exchange rate

Economist Jabbar Goran revealed on Tuesday the high rate of economic growth in the country and that the Iraqi financial system is linked to the global banking system.

The economic expert and spokesman for the currency market in Sulaymaniyah, Jabbar Gorran, said in a statement to Shafaq News Agency: "The economic and financial situation of Iraq is developing and growing significantly, and now we are witnessing an increase in the country's economic growth by 2%, and this is a good thing for the Iraqi economy compared to previous years."

He added, "The implementation of electronic procedures by the Central Bank of Iraq under the supervision of the US Treasury Department had a clear impact on economic growth as well as on the decline in the value of the dollar against the Iraqi dinar."

He stated that "the monetary financial policy currently followed in the country has made the difference between the exchange rate of the dollar and the dinar shrink to the limits of ten thousand dinars, and this difference is considered normal for many reasons."

He pointed out that "the measures taken since the middle of last year have been implemented in a realistic manner, amounting to 30 financial measures, which had a positive impact on dealing in the Iraqi dinar instead of the dollar, when transactions in the Iraqi dinar in the country are now estimated at 90%, with the exception of the Kurdistan Region, and also paved the way for merchants to deal." Through external transfers directly through banks, 85% of local merchants can now deal with external transfers through banks to import materials from abroad.”

Kuran ruled out that the dollar exchange rate would be the same as the government exchange rate for administrative and financial reasons, indicating that the difference should remain this way at around 10 thousand dinars between the dollar and dinar exchange rate. link