Thursday, May 2, 2024
Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar, 2 MAY
Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar
5/1/2024 Baghdad,
Economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar.
Qusay said, in a televised interview followed by Mawazine News, that “oil revenues rose during the first three months of this year, and this is thanks to the current government’s policy and with Muhammad Shiaa Al-Sudani personally supervising this success.”
He added, “Iraq currently embraces more than 600 investment projects, including the Baghdad Metro.”
He pointed out, “Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit.”
He pointed out that “there should be rationalization and advice in local financial consumption.” LINK
"RV UPDATE" BY FRANK26, 2 MAY
Frank26
Question: "Do you have to change rates before May 9th ascension in the WTO?" No, you can have a membership in the WTO with a low exchange rate. That doesn't interfere with it.
The budget does not need parliament...The budget waits for the exchange rate. The exchange rate is not waiting for it or anything else...The budget is born without them...
Article: "Will the agreements signed with the US Treasury reflect positively on the exchange rates?"
Yeah because they want at least 1 to 1 but they never changed it. They kept it at 1320. I think they're going to come out at maybe 1 to 1.30 or 1 to 1.50 and then float...The only reason they ask this question is because they know the answer to the question!
“Hidden Hands"... An Expert Diagnoses A Strange Growth In The Profits Of Banks Owned By Non-Iraqis, 2 MAY
“Hidden Hands"... An Expert Diagnoses A Strange Growth In The Profits Of Banks Owned By Non-Iraqis
May 1 Information / Baghdad.. The economic philanthropist, Manar Al-Obaidi, on Wednesday reported a “strange growth” in the profits of banks owned by non-Iraqis, warning of “hidden hands” behind it.
Al-Obaidi said in a publication seen by “The Information” that
“the profits of banks owned by non-Iraqi parties, according to the first quarter data, show significant growth and numbers that are strange for any sector,” wondering,
“Is it normal for any project to achieve annual profits amounting to 100% of the capital while Other banks are suffering, and
is it normal for a bank whose maximum profits in previous years did not exceed the barrier of 10 billion dinars as a maximum amounting to more than 300 billion Iraqi dinars within a year?” He added,
"It was a true success story based on free competition without external interference.
Of course, we are with it, but we fear that there are hidden hands that intended to make these particular banks achieve profits without others," noting that
"one of the banks' expected net profit in 2024 will be 100%." % of its capital and the amount of cash credit granted by it does not exceed 2% of its total assets. Ended/25 hours
Evening News with MarkZ. 05/01/2024
EXCERPTS FROM MARKZ, 27 NOV
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