Parliamentary Oil Committee: The Oil And Gas Law Has Not Reached Parliament And Is Still In The Government’s Drawers, 19 NOV

 Parliamentary Oil Committee: The Oil And Gas Law Has Not Reached Parliament And Is Still In The Government’s Drawers, 19 NOV

Iraq  Saturday, November 18, 2023 4:35 PM  Exclusive / National News Center  The Second Deputy Chairman of the Parliamentary Oil and Gas Committee, Adnan Al-Jabri, today, Saturday, called on the Prime Minister to open an investigation into the devaluation of the rights of lecturers in Basra.

Al-Jabri said in a statement to the National News Center: “Data for 35,721 retirees in the General Directorate of Basra Education was published as contracts for lecturers and administrative volunteers in the education departments in Basra Governorate, but we were surprised by the lecturers who have direct positions in their schools.”

Al-Jabri stressed on the Ministry of Education, “Do not underestimate the merit of volunteers who have been working for free for three years and filling vacancies in many schools affiliated with Basra Education.”

Regarding the oil and gas law, he explained that “it has not yet reached the House of Representatives and is still in the government’s custody, and the government has formed many committees to study the organization of the draft law.” 

He added, “This law must be enacted during this session to resolve the problems between the center and the region, preserve the entitlements of the oil-producing governorates, and regulate production operations and management of oil and gas.”   https://nnciraq.com/237375/

"RV UPDATE" BY CLARE & PIMPY, 18 NOV

 Clare

  Article:  "Private banks and exchange companies express their preparations to reduce the exchange rate"  Quote: "Private banks and exchange companies are showing great preparations, collectively and in coordination, to reduce the price of the dollar”

 Pimpy   

It's a tug-of-war for you to find that sweet spot when it comes to currency exchanges.  Right now I believe the Iraqi dinar is way too low, It's too cheap.  Iraq is starting to get get back on track.  If they're going to start doing trade with  other countries they're going to need a stronger Iraqi dinar...

What would really be a super huge lift and bring a ton of value to the Iraq dinar is if they get away from the greenbacks and start using their own currency to do transactions for the oil.  That would be huge. 

US Envoy Mediates Crisis Over Iraq Speaker's Removal, 18 NOV

US Envoy Mediates Crisis Over Iraq Speaker's Removal

ERBIL — US Ambassador to Iraq Alina Romanowski is mediating between conflicting parties to address the ongoing issue involving Parliament Speaker Mohammed al-Halbusi, a leading Arab newspaper reported.

The diplomat held discussions with Iraqi Supreme Judicial Council Chairman Fayeq Zeidan over recent developments and the country's security situation, emphasizing the significance of an independent court adhering to legal procedures and the Iraqi constitution.

Romanowski acknowledged her meeting with Halbousi, referring to him as the "speaker of the House of Representatives" in a recent tweet. The diplomat is reportedly engaged in a series of political meetings to tackle the crisis triggered by the Federal Court's decision to remove Halbousi from parliament.

Anonymous sources within the Iraqi parliament revealed that Romanowski has proposed a resolution to the issue, considering the removal of Halbousi as an urgent decision not grounded in the constitution. The US ambassador aims to act as a mediator between Iraq's political factions to address the matter, deeming it potentially perilous for the country's stability.

Iraqi political analyst Mujahid Tai highlighted on social media that there are numerous parties challenging the Federal Court's decision on Halbousi. He expressed the view that maintaining the existing political balance in Iraq is more challenging than upholding the court's ruling.

On the other hand, Halbousi’s opponent, Bassem Khashan, criticized the US ambassador, asserting that she favors retaining Halbousi as the speaker of the Iraqi parliament. Khashan accused her of supporting someone accused of “fraudulent” activities.

Amid these political tensions, concerns have risen about the potential impact on Iraq and the region. The Kurdistan Democratic Party (KDP) recently commented on the matter and emphasized the need for a careful assessment of the situation, calling for responsible steps to align with the constitution, coalition agreements, and the federal government agenda. The party stressed the importance of returning to principles that promote partnership, consensus, and balance for the stability and unity of Iraq.

https://www.basnews.com/en/babat/830625

Iraq-Turkey Collaborative Efforts to Reorganize Trade, 18 nov

 Iraq-Turkey Collaborative Efforts to Reorganize Trade, 18 nov

ERBIL — Discussions took place on Thursday between Iraqi and Turkish officials aiming to regulate and restructure economic exchanges between the two countries.

Iraqi PM Muhammed Shia’ al-Sudani directed the establishment of comprehensive trade regimes and standards, aiming to discourage reliance on parallel markets, Iraqi News Agency reported.

The meeting involved representatives from the Iraqi Central Bank, PM advisors, a Turkish delegation led by the Turkish ambassador, Turkish banks operating in Iraq, and representatives from the Turkish private sector.

The discussions highlighting the importance for Turkish customs authorities to align with Iraqi customs, ensuring equal exchange between the two nations.

They also shed light on establishing interconnected financial and banking systems between the countries to facilitate capital transactions and commerce, reducing reliance on the parallel market.

The meeting further discussed exploring simplified access to credit card usage in Turkey for Iraqi residents and tourists.

These measures are expected to aim at reorganizing and regulating trade regimes and capital exchanges between the two neighboring countries using approved legal and banking methods.

https://www.basnews.com/en/babat/830515

2023 Budget Canceled - Finance Salaries

" RV UPDATE" BY MARKZ, 18 NOV

 MarkZ 

 [via PDK]  The big news...is “Parliament convenes Special Session as alliance nominates three successor candidates to Al-Halibousi” The overwhelming agreement is that Halibousi has been a major roadblock especially on the 3 paragraphs of the HCL…the Kurds and Baghdad. So they removed Al Halibousi who was wildly considered to be a roadblock and kept us from getting across the finish line with the HCL law. From my sources I feel very confident that he was the roadblock. It is very encouraging that he was removed and is being replaced. They continue to tell me they want this done by Dec. 1st. Let’s pray and hope this is accurate.

We certainly expect it to go by Dec 1st. The latest chatter I am getting from Iraqi sources is  the last 3 paragraphs of the HCL have been 100% completed. And the World Trade Organization Iraq ascension is expected within days. They are feeling very confident with their Dec 1st goal. A number of my sources are still saying before Thanksgiving.  It looks really good.

 Comment:  Chase Bank wealth management sent me a lengthy email that they would like to manage my wealth. Funny thing is I only have about 2 thousand dollars in my account.  MarkZ:  They know what’s coming. It is a regular conversation with many bank employees now. 

To What Extent Do The Government And The Central Bank Control Dollar Smuggling Operations? Parliamentarian Explains, 18 nov

 Time: 11/18/2023 Read: 1,404 times {Economic: Al-Furat News} Member of the Parliamentary Finance Committee, Ali Jabbar Mu’nis, explained today, Saturday, that tightening control and maintaining the official price limits smuggling operations, and this matter falls on the responsibility of the government and the Central Bank.

For several months, the value of the Iraqi dinar has fluctuated sharply, losing on some days 15 percent of its value against the dollar, which sparked sporadic demonstrations by Iraqis worried about losing their purchasing power.

Muanis told {Al-Furat News} agency: “With regard to the rise in the exchange rates of the parallel dollar due to the lack of tight control over the parallel market, smuggling operations must be controlled according to mechanisms established by the government,” indicating that “tightening control and maintaining the official price limits smuggling operations.”

He added, "Remaining in this situation leads to maintaining the large difference between the parallel and official prices, and this matter falls on the responsibility of the Central Bank and the government," indicating that "the situation remaining in this situation is worrying and needs to be stopped."

During the past few days, many Iraqi banks have begun to stop giving depositors their money in dollars, even though they have accounts in Iraqi dinars and US dollars.

This came after statements made by officials at the Central Bank talking about preventing cash transactions in dollars and restricting them to the Iraqi dinar only in an attempt to control exchange rates.

The selling price of the dollar in Baghdad markets this morning reached 160,500 Iraqi dinars, while the buying price reached 158,500 dinars for every 100 dollars.  LINK