Wednesday, February 7, 2024

Mawazine News – Baghdad

The United States of America renewed its keenness to continue joint work and communication between the two sides, and to support the Iraqi government in various fields, especially in the field of economic cooperation.

A statement by the Iraqi Foreign Ministry received by Mawazine News said that “the Deputy Prime Minister and the Minister of Foreign Affairs received a phone call yesterday evening from US Secretary of State Anthony Blinken, as part of the follow-up to the most prominent developments and regional and international issues of common interest.”

He added, “During the call, the attacks launched by the United States of America on military and civilian sites in the areas of Okashat and Al-Qaim, which targeted Iraqi security forces that resulted in the martyrdom of a number of security forces and Iraqi civilians.”
The Deputy Prime Minister and Foreign Minister stressed “the rejection of the Government of Iraq for such attacks and the need to stop them and that Iraq is not an arena for settling accounts between the opposing countries, stressing the need to return to the table of dialogue and negotiations within the framework of the meetings of the Supreme Military Committee. The two sides also stressed the importance of working to strengthen the strategic partnership between the two countries and continue coordination and consultation during the coming period to follow up on the paths of joint action in order to face the increasing challenges in the region.”

Hussein touched on “the sanctions imposed by the US Treasury on seven Iraqi banks recently preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions were not indicated, and whether Washington’s imposition of these sanctions came due to the lack of discipline of these banks in implementing instructions and banking compliance rules, or for other political reasons, especially as the US Treasury Department is in constant contact with the Central Bank of Iraq.”

He pointed out that “these banks have an important and significant role in financing the expenses of the ration card and providing the food basket for Iraqi families with limited income, and the minister officially called for a review of the US Treasury decision on the subject, and pointed to Iraq’s keenness to build partnership and cooperation relations with friendly countries and joint work towards confronting economic and security challenges in a way that supports the consolidation of stability in the region.”
For his part, the Foreign Minister stressed his keenness to “continue joint work and communication between the two sides, and to support the Iraqi government in various fields, especially in the field of economic cooperation.”

mawazine.net

"RV UPDATE" BY PIMPY, 8 FEB

Pimpy

I already said this about the World Trade Organization - There is no certain exchange rate that you must have to get into the World Trade Organization. What they're looking for is an exchange rate that's very stable. Although...IMO I'm pretty sure they would prefer it if you didn't have so many zeros.

Is it possible the exchange rate of the Iraqi dinar increases and for whatever reason we can't benefit from it over here in the west?

...I want to make money off the Iraqi dinar but not at the expense of the Iraqi people. The thing that's most important is that the people in Iraq prosper from this, they've been suffering a long time... As far as the people in the west not getting a taste of this wealth, the only thing I can think of is the exchange rate changing and for whatever reason Iraq is still on sanctions so we have a hard time finding a place to exchange our Iraqi dinar because a lot of people aren't going to have the money to go fly elsewhere to exchange...That would be a scenario I think that could play out...

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-pimpy-7-feb.html

🔥 Iraqi Dinar 🔥 See The Big News Wait is Over 4.81$ IQD Rate CBI Confirm...

Iran Downplays The Impact Of Canceling The Operating Licenses Of Three Of Its Banks In Iraq: It Harms Baghdad, 7 FEB

Iran Downplays The Impact Of Canceling The Operating Licenses Of Three Of Its Banks In Iraq: It Harms Baghdad

Economy Iraq Iran breaking Drains Cancellation of license 2024-02-05 Shafaq News/, Monday, Iran reduced the news that talked about stopping dealing with three of its banks in Iraq, and

while it indicated that two of those banks had their operating licenses originally canceled two years ago, one Iranian expert described the commercial situation in Iraq as “without law.” Some tribes have more power than the government.”

The Iranian Eqtisad News website said in a report translated by Shafaq News Agency, that the head of the Joint Iranian-Iraqi Chamber of Commerce, Yahya Ali Ishaq, touched on the issue of canceling Bank Melli’s license in Iraq, saying,

“In Iraq, we had three banks, namely Bank Melli, the Parsian Bank, and the Islamic Cooperative Bank.”".

The report pointed out that “Bank Melli and Parsian Bank have not had any currency transfers and transactions for two years, and therefore such news now would not affect the relations between the two sides and the currency market.”

The head of the Joint Iranian-Iraqi Chamber of Commerce, Al Ishaq, added, "As a result, this issue is not a new matter, and will not affect the financial transactions of businessmen, and there is no need to worry." Al-Ishaq concluded his speech by saying,

“It appears that the news that was published in cyberspace about the cancellation of Bank Melli’s activities in Iraq is nothing but the work of exploiters and brokers to stop the trend of decline in the exchange rate that began at the beginning of this week.”

For his part, an Iranian trade expert confirmed that “canceling the National Bank’s license has no impact on trade between the two countries,” noting that “commercial exchanges between Iran and Iraq take place in different ways.”

Muhammad Ali Nadib said in a statement to the Iranian Bazaar website and translated by Shafaq News Agency, “It cannot be said that canceling the bank’s license could have a special impact on Iran’s trade with this country.”

Pointing out that Iraq does not have a clear commercial law, Nadib said, “The government is not strong in this country and some tribes have greater authority than the government, and for this reason the commercial path of this country is different from other countries,” stressing that

“with this news, there will be no There is a change in trade with this country, and it will not happen, even if there is a problem for one of the two countries in trade, that country will be Iraq, not Iran,” he said.

The Iranian trade expert in Iraq stated that “most of Iran and Iraq’s exports are made through the Emirates,” stressing that “this news did not have a negative impact on the trade of the two countries, and exchanges between the two countries continue as before, and

therefore the exaggeration of this news came to increase the price of the dollar because this The news is baseless and has been exaggerated by beneficial people.” The Iranian expert concluded his speech by saying,

“This news has no special impact on trade or the currency market, but the price of the dollar has been affected by political tensions in the past few months,” pointing out that

“the Iranian government’s handling of the situation and reducing tensions has contributed, since the beginning of the week, to the improvement in the trend.” Towards a decline in exchange rates.

https://www.shafaq.com/ar/اقتصـاد/يران-تقلل-من-ت-ثير-لغا-رخص-عمل-ثلاثة-من-مصارفها-في-العراق-يضر-بغداد

"RV UPDATE" BY CLARE, 7 FEB

Clare

Article: "The Governor of the Central Bank of Iraq receives a delegation from the World Bank" Separate article quote: "The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region."

Article: "A government advisor details indicators of the efficiency of foreign reserves: Iraq is in the best financial condition" Quote: "All indicators of the efficiency of foreign reserves mentioned above indicate that Iraq today is in the best condition in its financial history."

Article: "A government advisor details indicators of the efficiency of foreign reserves: Iraq is in the best financial condition" Quote: "...The financial advisor to the Prime Minister, Mazhar Muhammad Salih, detailed indicators of the efficiency of foreign reserves, while confirming that they indicate that Iraq today is better off in its financial history"

Article: "Advisor to the Prime Minister: The financial situation in Iraq is stable and sound"

Quote: "Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Thursday, that the future outlook for the financial situation in Iraq is stable, while indicating that oil market indicators are still more than 10% above the price specified in the budget until now"

Article: "Romanowski regarding the US Treasury’s visit to Iraq: enhancing cooperation between the two countries”

Quote: “The United States and Iraq share the goal of supporting a sound and strong financial system in Iraq, which will attract investment and ultimately benefit the Iraqi people. She added: I am pleased with the visit of US Treasury Undersecretary Ryan Nelson to Iraq, stressing that this visit has strengthened this important cooperation."

Article: " The Credit Bank of Iraq achieves a profit of 17.5 billion dinars during the year 2023”

Quote: "For the year 2023... its assets rose to 507.7 billion dinars, while it was 406.7 billion dinars in the year 2022, a growth rate of 24.8%...The bank's profits grew by 63.5% during the year 2023 compared to the year 2022, which reached 10.7 billion dinars ”

Clare: With the closure...the dollar price decreased

1/20/2024

The main stock exchange in the capital, Baghdad, closed today, Saturday, due to the decline in the exchange rate of the dollar against the Iraqi dinar.

Selling prices in money exchange shops in local markets in Baghdad reached 153,250 Iraqi dinars for 100 dollars, while purchasing prices reached 151,250 dinars for 100 dollars. LINK

https://dinarevaluation.blogspot.com/2024/01/rv-update-by-paulette-27-jan.html