SUDANESE MEETS WITH THE MINISTER OF FINANCE AND THE GOVERNOR OF THE CENTRAL BANK AND TAKES 3 DECISIONS
March 14 22:30
Information / Baghdad
On Thursday, Prime Minister Muhammad Shiaa Al-Sudani met with the Minister of Finance and the Governor of the Central Bank and subsequently took 3 decisions related to loans and debts.
The Prime Minister’s Media Office stated in a statement received by Al-Maalouma, that “Prime Minister Muhammad Shia Al-Sudani chaired a meeting that included the Minister of Finance, the Governor of the Central Bank of Iraq, and a number of relevant advisors, in the presence of the Director General of the Trade Bank of Iraq.”
He added, “The meeting discussed a number of issues related to the government banking sector, related to government debts and non-performing private sector loans, and took a number of decisions regarding them, which were the following:
1-The Ministry of Finance begins paying government debts to the Trade Bank of Iraq.
2- Preparing a plan to be presented to the Council of Ministers regarding the repayment of troubled loans owed by the private sector to government banks, including the Trade Bank of Iraq.
3- Forming a joint committee to study expired credits; In order to return its funds to the public treasury.
Before Sudanese's Visit To Washington, The Factions Are Silent, The Framework Is Waiting, And Parliament Is Waiting For The Implementation Of Its Decision
Reports | 01:45 - 03/24/2024 Mawazine News – Baghdad The Iraqi armed factions remained silent regarding the visit of Iraqi Prime Minister Muhammad Shiaa Al-Sudani to Washington, which was scheduled for mid-April, amid doubts about the possibility of resolving the issue of ending the role of the international coalition in Iraq during the visit, while Iraqi sources confirmed that Al-Sudani stressed He stressed the priority of this file during his upcoming visit.
Yesterday, Friday, the White House announced that US President Joe Biden will meet with Sudanese at the White House, next April 15, and that they will reaffirm their commitment to the Strategic Framework Agreement, and will work to deepen their common vision for a safe, sovereign, prosperous Iraq that is fully integrated into the broader region, while Al-Sudani's office confirmed that the visit would discuss the post-international coalition phase, without further clarification.
The visit’s program did not appear to be identical, according to the two official statements regarding the international coalition file, which reinforces the factions’ doubts about Washington’s seriousness in ending the coalition’s role in Iraq, especially since American officials had previously confirmed that Baghdad did not request ending the coalition’s role.
The Iraqi government reassured those factions that the issue of ending the coalition’s presence would be among the topics of the visit, and the advisor to the Iraqi Prime Minister, Hussein Allawi, said in a press statement yesterday, Saturday, that “in addition to the data of the dialogues of the Supreme Military Committee, the expected meeting of the Iraqi Prime Minister with the President "A timetable will be determined on the basis of which the American coalition forces will withdraw."
He added, "The strategic partnership between the Iraqi government and the United States proceeds within the framework of the Strategic Framework Agreement that Parliament voted on during the past years," stressing that "Al-Sudani took a decision to end the tasks of the international coalition, and this decision made the Iraqi-American Supreme Military Committee conduct a dialogue between Iraq and representatives The international coalition countries, to set a timetable,
and these dialogues are continuing by the committee and go in the direction of assessing the threat of ISIS and the capabilities of the Iraqi armed forces, and in return, they will set a timetable based on these data on the one hand, and on the basis of the meeting between the Prime Minister and Biden.
AFTER HOSTING THE GOVERNOR. PARLIAMENTARY FINANCE: WE LOOK FORWARD TO RAISING THE VALUE OF THE DINAR
Baghdad/Iraq Observer
The parliamentary finance committee on Thursday expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market.
A statement said that “the Finance Committee met under the chairmanship of Atwan Al-Atwani and in the presence of its members with the Governor of the Central Bank Ali Al-Alaq, to discuss monetary policy and the banking system in the country and ways to increase the value of the Iraqi dinar.”
At the beginning of the hosting, which was held at the headquarters of the committee, the chairman of the committee stressed “the importance of following up the economic file and monetary policy, based on the supervisory side, and finding appropriate solutions to the obstacles facing the work of the Central Bank.”
The Finance Committee expressed “its aspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar, control the market in order to alleviate the burdens of citizens, and address the deficit.”
For his part, the Governor of the Central Bank reviewed “the economic and monetary aspect, pointing to “the development of basic rules in order to monitor the process of remittances and analyze monetary operations, praising “the role played by the Finance Committee in following up the financial and economic movement of the country.”
The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the reality of banks, the possibility of expanding relations with international banks, drawing the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank Law.
The Prime Minister's Advisor Announces The Decline In The Effects Of The Parallel Market And The Decline In Its Activity
Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, announced on Sunday the decline in the effects of the parallel market and the decline in its activity, while revealing the reasons for the decline in the exchange rate of the dollar against the dinar, and the importance of monetary policy and its imposition of a climate of stability at the general level.
Saleh said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “economic policy played a major role in imposing a climate of stability in the general level of dollar exchange rates,” indicating that “the state of superiority of the official exchange market in financing Iraq’s foreign trade caused... With the decline in the effects of the parallel market and the decline in its illegal activities.”
He pointed out that "the decline in parallel market rates in favor of the official exchange rate is a tangible success in the cohesion of the country's economic policy in its three aspects: financial, monetary and commercial," pointing out that "the work and high coordination of policies led to providing an incubator of stability embodied in relative price calm and the containment of seasonal price fluctuations." “For materials in high demand, specifically the provision of basic goods related to consumption and daily living for citizens.”
He noted "the importance of using the customs policy, which was represented by (reducing customs tariffs and diversifying imports without quantitative limits for basic and necessary goods) as part of the performance of the financial policy in providing price stability and ensuring the supply of materials, food and essential goods, and production supplies at the official exchange rate and in accordance with the requirements of the national economy."
In addition to the high stability in bank financing for foreign trade for the private sector, which began to adopt the stable official exchange rates of 1,320 dinars per dollar in a wide and more flexible manner through the regularity and stability of financing operations.
He pointed out that "the demand for foreign currency for the purposes of financing the country's foreign trade, on the part of the private sector, is today backed by large foreign currency reserves, which are the highest in the country's history, reaching nearly 111 billion dollars today."
He continued, "These high foreign currency reserves reflect the country's annual trade efficiency of more than 16 months of import at least in light of the global standard for the commercial efficiency of foreign reserves, which is set at only about three months, and that the ability of these reserves to cover the exported currency is considered complete coverage in foreign exchange, which is an indicator of stability." Contains any existing or anticipated adverse price fluctuations.
Article quote: "Iraq joins FEMOZA" It's the World Federation of Free Economic Zones. Why is this important? Iraq has accession to this...We have the accession law to join the European Bank and now we have the accession to the World Free and special economic zones federation..
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Both of these entities are about finance and building new industrial cities. If you don't think Iraq is going to go international, you might think again...
Article Quote: "Al Sudani of Iraq to the White House to coordinate common priorities and reinforce the strong bilateral partnership between the United States and Iraq. The leaders will reaffirm the commitment to the Strategic framework agreement..." I like that part they will reaffirm it so in other words, if they reaffirm it as it is the United States isn't going anywhere... Quote "Al Sudani of Iraq to the White House on the 15th of April."
