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Tuesday, March 5, 2024
CLARE: Revealing the reasons for the delay in the arrival of amendments to the budget schedules to Parliament, 5 MARCH
CLARE
Revealing the reasons for the delay in the arrival of amendments to the budget schedules to Parliament
3/5/2024
Baghdad..
Deputy Chairman of the Parliamentary Planning Committee, Muhammad Al-Baldawi, revealed, on Tuesday, the real reasons behind the government’s delay in sending amendments to the current year’s budget schedules to the House of Representatives for the purpose of approval.
Al-Baldawi told Al-Maalouma, “The delay in sending amendments to the 2024
budget schedules to Parliament is due to several reasons, including the ministries not completing their plans regarding the lagging projects, as the government is working to close this file, as well as the difference in prices and currency values.”
He added, “Among those reasons relates to the schedules and amounts allocated to the Kurdistan region of Iraq, especially after the recent decisions issued by the Federal Court, which obligated the government to do so.”
He pointed out that “most of these reasons and obstacles have been overcome by the government and will be sent to Parliament very soon.”
"ABOUT THE BANK FDIC INSURANCE " BY PAM VIA TEXAS SNAKE TELEGRAM CHAT ROOM, 5 MARCH
PAM
Banks have said in the past they insure for the $250,000 FDIC, but if you have more, you can't have 2 or more accounts at the same bank, it only covers one, therefore you have to split it between several. Is this true.
TEXAS SNAKE
Not that this is of material value immediately but the banker is indicating those above him are indicting he is within a short window to beginning his scheduling of currency exchange appointments. Will keep you advised as info proceeds.
As had been stated I will be participating in a planning call tomorrow evening, I mentioned this to the banker, his comment was "don't get to excited but you may get filled in on some news should I hear anything from above tomorrow."
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-texas-snake-4-march.html
They are on call to be at their station within 45 minutes and all have had extensive training
Folks while nobody in our level knows when but the assurances I am being given indicates we are closer than ever.
"RV UPDATE" BY TEXAS SNAKE VIA TELEGRAM CHAT, 24 FEB
TEXAS SNAKE
Like all of us we await some word and at this point my banker like us is awaiting some updates as we await but he does indicate we should be close based upon what has been shared thus far.
"RV UPDATE" BY TEXAS SNAKE, 22 FEB
“Word is trickling in that ATMs are being loaded with the new rainbow currency and then being placed out of service until all machines are loaded. …According to some sources, Bond Holder payments begin to be processing Wed. 21 Feb. …
I was on a call that was most positive and is affirming we stand at the threshold of scheduling/ exchanging currencies. They do not have rates or exactly when the announcement will be made but it could be as early as the next couple of days.”
The Sudanese Advisor Details Iraq's Financial Situation And Addresses Exchange Rates, 5 MARCH
The Sudanese Advisor Details Iraq's Financial Situation And Addresses Exchange Rates
Economy News – Baghdad Today, Tuesday, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, stated the real growth rate in Iraq’s non-oil gross domestic product, while referring to Iraq’s financial situation.
Saleh said, in an interview followed by “Al-Iqtisad News,” that “the basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceed 100 billion dollars, and they are the cover of the national currency, which means that there is complete coverage of the national currency issued in foreign currency, which provides "Ideal stability for the Iraqi dinar exchange rate, in addition to the fact that these foreign reserves embody Iraq's commercial efficiency, as these reserves cover more than 15 commercial months, while the global standard is only three months."
He added, "We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth."
He pointed out that "the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and it expresses the growing activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops." We expect Iraq’s grain production in the next few months to reach 6 million tons.”
Views 172 03/05/2024 - https://economy-news.net/content.php?id=41130
"ANALYSIS OF IRAQ NEWS: "AND WHAT IS THE RESULT OF THAT... A NEW EXCHANGE RATE TO ADD VALUE TO THE NATIONAL CURRENCY" BY FRANK26, 5 MARCH
KTFA
FRANK26: "AND WHAT IS THE RESULT OF THAT... A NEW EXCHANGE RATE TO ADD VALUE TO THE NATIONAL CURRENCY"............F26
A government advisor to Al-Ghad Press: Dollar prices in the markets will gradually decline
3/4/2024
The financial affairs advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Monday, that the dollar exchange rates in local markets will gradually decline .
Saleh said in an interview with Al-Ghad Press, “The demand for foreign currency to finance Iraq’s foreign trade for the private sector and government trade amounts annually to approximately 60 billion dollars .”
He added, "More than 95% of Iraq's foreign trade is financed through the compliance platform in accordance with international standards, and accordingly goods and merchandise flow into the country through the official exchange rate of 1,320 dinars per dollar ."
He continued, "Foreign trade depends on the parallel market at a rate of 5%," pointing out that "the percentage referred to will not affect the local market, especially after the decline in the general level of prices, which does not exceed 4 percent annually ."
He pointed out that "the current monetary and trade policy will provide a gradual reduction between the official and parallel exchange rates, especially after the banking system adapted to the rules of international trade and the principles of financing foreign trade, all of which began to serve the interest of the stability of the national economy ."
Today, Monday, the capital, Baghdad, witnessed a decline in dollar exchange rates with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 149,850 Iraqi dinars against 100 dollars.
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