Do not burden Sudanese’s visit to Washington with more than its “true meaning.” What exactly is its purpose?
The political and academic researcher, Hani Ashour, stressed today, Friday, the importance of not burdening the upcoming visit of Prime Minister Muhammad Shiaa Al-Sudani to the United States of America more than its true meaning.
Ashour told “Jarida”, “The visit of Prime Minister Muhammad Shiaa Al-Sudani to the United States of America is a protocol visit within the framework of joint relations between the two countries in the security, economic, political and other areas that were previously agreed upon, in addition to what is included in the strategic framework agreement.” “.
He added, “All prime ministers since 2003 have made visits to the United States of America and met with the American President, except for Adil Abdul Mahdi, due to the incident of the assassination of Al-Muhandis and Soleimani. Therefore, this visit should not be burdened with more than its true meaning. Rather, it comes within the framework of the existence of agreements with the International Monetary Fund.” The US Treasury is concerned with the Iraqi financial and economic situation, and there are agreements that must be activated in this regard.”
He pointed out that “linking the visit to a future political project for the Sudanese is unlikely, as evidenced by the fact that Al-Kadhimi had visited Presidents Trump and Biden, but that did not help him assume the second term. Therefore, the Sudanese visit does not go beyond activating previous agreements and signing new agreements in the fields of security, armament, and the exit of American forces from Iraq and drawing A scenario for this exit, in addition to joint cooperation on economic and investment issues. link
MarkZ:
I do not think this weekend is in play. But many others believe this weekend is still in play. Most of what I am hearing is they expect most of the historic bonds to start between the 15th-22nd. Then Currency exchanges following directly on its heels. But, none of us know the timing. They cloud it on purpose
Comment: Ramadan ends April 9th or 10th…then 3 days of Eid El Fitr…where they like to give each other gifts…. It would make sense for Sudani to give it to the people of Iraq before Eid El Fitr.
MarkZ: That would make sense...that is the celebration at the end of Ramadan. It would make a lot of sense for Sudani to release it about then.
Iraq and Saudi Arabia sign 12 memorandums of understanding for specific investment projects
Iraq and the Kingdom of Saudi Arabia signed memorandums of understanding with 12 Saudi companies with the aim of enhancing cooperation in a number of specific investment projects.
A statement from the ministry, a copy of which {Al-Furat News} received, said, "The memorandums of understanding signed with 12 Saudi companies came with the Iraq Fund for Development, with the aim of enhancing cooperation in a number of qualitative investment projects in Iraq."
Last December, Saudi Arabia signed a partnership agreement with Iraq in the field of industrial investments for the private sector, as part of the two countries’ efforts to strengthen their bilateral relations and attract foreign investments. link
The exchange rate is in the budget to be voted on by parliament. But the budget is waiting for the new exchange rate. The budget is not waiting for any vote on parliament.
You know how close you are to this? If you're not as close to being prepared, good luck.
Sudani said to his citizens, 'Before the end of Ramadan, before the start of EID it is my desire to make a major announcement.' Ramadan comes to an end on the 8th of April. On the 9th EID starts. From the 9th to the 11th we have an amazing window to study and to see what happens with our investment because on the 15th Sudani will go to Washington DC to see the president of the Untied States.
PRESERVING FOREIGN RESERVES. AN IRAQI ACADEMIC STUDY ANSWERS THE QUESTION “THE STABILITY OF THE IRAQI DINAR AGAINST THE DOLLAR”
(This article is a history less of what happened in the past 4 years, even covers the Covid pandemic time period. But we want to know where the dinar is right now. Go to the next article for this information.)
Shafaq News / At a time when the price of the dollar is still fluctuating between high and low, and forcing the market to live in a state of confusion, because the hard currency constitutes an important tool in Iraqi trade, being a trade that depends on imports in most of the products in the local market, a researcher whose master’s thesis was discussed, at the Faculty of Administration and Economics at the University of Tikrit, on Monday, some possible solutions to hold and control the price of the dollar, as his message came about the role of the bank The central bank and the window of selling the currency and their role in the stability of the dinar against the dollar and the importance of maintaining foreign currency reserves.
Ahmed researcher Abdullah Okil told Shafaq News Agency that “the study aims to know and measure the extent of the impact of some of the Central Bank’s tools in achieving the stability of the exchange rate of the Iraqi dinar against the US dollar during the period (2004-2022) in order to know the places of imbalance and negatives that hinder the stability of the value of the local currency according to what suits the nature of the Iraqi economy, as the goal of maintaining the value of the local currency was the main goal of the bank in order to maintain the level of prices mainly related to the exchange level local dinar against the US dollar.”
He added that “the variables of the study were analyzed and measured according to the program (Eviews 13), and it was found that there is a positive relationship between some of the Central Bank’s tools as independent variables and the official and parallel exchange rate as dependent variables in the short term, with some negative and positive correlations for some variables in the long term, as it was noted that some tools were ineffective in influencing the currency exchange rate, such as the legal reserve, the rediscount rate and open market operations, but the impact of some of them was limited to inflation.”
He pointed out that “while the impact of the interest rate and the window was positive on the value of the local currency as a result of its reduction to the nominal exchange rate, and this indicates the ability of the Central Bank to influence the stability of the exchange rate of the local currency against foreign currency, especially through the window of sale of currency throughout the study period, except for some last years of the study period, as the nominal exchange rate returned to rise, as well as the case in the parallel market by a decision of the monetary authority represented by the Central Bank, for the purpose of facing public expenditures. And facing the repercussions of the global health crisis related to the Corona epidemic and the accompanying decline in oil prices, which is the main source of the US dollar due to the rentier nature of the Iraqi economy.”
He continued: “It was also noted that the gap between the official exchange rate and its counterpart in the parallel market increased due to the increase in demand for foreign currency, and the study made a number of recommendations, the most important of which is to continue to work in the window without overusing foreign reserves and diversifying sources of obtaining foreign currency by advancing development and activating the real sector, industry and agriculture, in order to achieve a reduction in imports, which reduces currency depletion, in addition to tightening control measures to prevent the smuggling of foreign currency and works that affect the supply of it, which contributes to to stabilize the exchange rate of the local currency.”
He stressed that “continuing to work in the window of selling currency without wasting foreign reserves, and diversifying the sources of obtaining foreign currency so that the exchange rate does not remain hostage to oil prices, as it is almost the only source of obtaining foreign currency.”
He pointed out that “advancing development in Iraq, activating the real sector, activating industry and agriculture to reduce imports to relieve pressure on foreign reserves of the dollar, keeping the Central Bank away from political pressures and granting it the necessary powers to deal with fluctuations in the economic situation, including exchange rate fluctuations, and tightening control measures to prevent the smuggling of foreign currency abroad so as not to affect the supply of foreign currency, and thus the value of the local currency.”