The rise in the dollar exchange rate in Iraq.. What is its relationship to Baghdad Airport?, 17 July

 {Economic: Al Furat News} Today, Monday, the economic expert, Abdul Rahman Al-Shaikhli, revealed the reason for the rise in the dollar exchange rate in Iraq and its link to Baghdad International Airport.

Al-Shaikhli told {Euphrates News} that: “The rise in the dollar exchange rate remains subject to the behavior of the Central Bank and the extent of its responses to it, and the recent rise in the dollar came after the decision of the Central Bank of Iraq to transfer travelers’ operations to obtain dollars through Baghdad Airport exclusively.”

He explained, “The airport is not prepared to receive this large number of companies; there are about 1200 companies that sell dollars, and if they are limited to only 6 offices, it will be useless and the citizen will not be able to obtain dollars because we have gone through a previous experience of this kind.”

Al-Shaikhli added, “The Central Bank’s announcement of the suspension of transfers in the Chinese currency can be used in dollars, in addition to the continuous demand to deal with Iran in dollars, and this leads to a great momentum for the dollar.”
He added, “One of the problems is also the lack of an authorized spokesperson for the Central Bank to announce the procedures and results of the governor’s visits to Washington, as all statements are confused due to the absence of official information.”

The Central Bank of Iraq announced the new mechanism for travelers to receive foreign currency (dollars), which will be exclusively through the outlets of companies and banks at international airports, stressing that the goal of the new mechanism, which will enter into force on July 14, is to deliver the dollar to the real traveler and pass sound transactions, in addition to facilitating travelers’ access to the dollar more quickly.

 It is worth noting that the Central Bank decided to allow exchange companies to receive more than one share during the week, in order to achieve full response to travelers’ requests.
The selling and buying prices of the US dollar in Baghdad markets today with the closing of the main stock exchange came as follows:
The selling price is 149,750 dinars.
The buying price is 147,750 dinars for 100 dollars.

Raghad

https://alforatnews.iq/news/%D8%A5%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%B3%D8%B9%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%85%D8%A7-%D8%B9%D9%84%D8%A7%D9%82%D8%AA%D9%87-%D8%A8%D9%85%D8%B7%D8%A7%D8%B1-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF%D8%9F

FRANK26….7-16-24……3…2….1….LIFT OFF !!!

"RV UPDATE" BY CLARE, 17 JULY

 Clare

  Article: "Iraq resumes negotiations to join WTO"  Quote:  "The Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq's accession."

 Clare  

Article:  "Source: Iraq's Central Bank Governor in unannounced visit to US to discuss Yuan ban "  Quote:  "al-Allaq departed for Washington last Tuesday to meet with officials from the Federal Reserve and the US Treasury Department."

 Clare 

 Article: "For the first time, the Iraqi state's non-oil revenues record an increase of 11%" 

Quote: "...for the first time, the non-oil revenues of the Iraqi state recorded 11% of the total revenues, with oil revenues falling below the 90% barrier."

  Community Comment: "I don’t understand how the budget can be sent back to Parliament when the President signed and sent it to the Gazette for publishing." 

 Article:  "A representative of the framework: The 2024 budget will be returned to the House of Representatives and the reason is revealed”  

THE AMENDMENTS NEVER GOT PUBLISHED IN THE GAZETTE YET.

 Article: "Customs revenues amount to nearly one trillion dinars in the first half of 2024"

  Article:  "Foreign Minister arrives in Washington"  Quote:  "Foreign Minister Fuad Hussein arrived in Washington today, Wednesday, to participate in the 2024 NATO Summit."

https://dinarevaluation.blogspot.com/2024/07/rv-update-by-clare-14-july.html

Iraq Resumes WTO Accession Talks After 16-Year Hiatus, 17 July

 By John Lee.

Iraqi Trade Minister Athir Dawood Al-Ghurairi announced the resumption of preliminary meetings for Iraq’s accession to the World Trade Organization (WTO) after a 16-year pause.

The Iraqi negotiation teams have started preparatory meetings at the WTO headquarters in Geneva, preparing for the third working group meeting on Iraq’s accession.

According to a statement from the Ministry’s media office, Riyad Fakher Al-Hashemi, Director General of the Foreign Economic Relations Department, indicated that the first preparatory meeting was held with the WTO’s Accession Section Director and experts in goods, services, and intellectual property.

This meeting, chaired by Al-Hashemi and including negotiators from various Iraqi ministries and the Kurdistan Region, discussed key files and documents previously submitted by Iraq.

The third official working group meeting, to be led by the Trade Minister representing Iraq, will review the completed files and documents prepared by the national committee responsible for the accession. This marks a significant step as the Iraqi negotiation team reaches a high level of expertise in dealing with complex issues related to WTO membership.

(Source: Ministry of Trade)

https://www.iraq-businessnews.com/?p=222080

MILITIAMAN: Iraqi Dinar - Dinar Update-2024 Budget-Acceleration to WTO-Value Chains-...

"RV UPDATE" BY FRANK26, 17 JULY

 Frank26 

 Question: "Is this going to be a capital gain?" 

A lot of people desperately do not want to pay taxes.  I believe they live in this world they create where taxes never exist.  I'm sorry, if you honestly think you're going to be able to get involved in this and exchange this currency, that's called a capital gains, without having to pay any taxes you're delusional...

Yes you're going to pay taxes, that's why it's important to have a receipt...held for one year you'll probably be in the 20% tax bracket...if you don't have a receipt, you lost it, you'll probably be in the 40%.  Biden just said a couple days ago he wants to increase those taxes over 50%...capital gains

 Is the goal of the CBI for the Iraqi dinar exchange rate to go international?  Is that the goal of the monetary reform? 

 No.  It's to RI...The goal is not to send it to you internationally so you can make money off of their currency.  The goal of the monetary reform of the Iraqi dinar is to lift the value of the currency by removing at least three zeros from their exchange rate.  In doing so, then their monetary reform will require another reform, which is the denominations...the lower notes.

Kurdistan Finance announces the deposit of about 700 billion dinars with its account the salaries of the security forces in the region, 17 JULY

 Shafaq News / The Ministry of Finance and Economy of the Kurdistan Region announced, on Tuesday, the deposit by the federal government of a financial amount of approximately 700 billion dinars, the salaries of security forces in the Kurdistan Region for the past May and June.

The ministry said in a statement received by Shafaq News that an amount of 676 billion and 36 million dinars was deposited in its bank account to finance the salaries of May and June for the Peshmerga forces and the security services of the Kurdistan Region.

On Thursday, July 11, the Kurdistan Regional Government announced that the federal government had decided to pay the salaries of the security and military forces of the region for the past May and June.

Last Tuesday, Peshmerga Minister Shorush Ismail said the federal government had agreed to pay the salaries of Peshmerga forces.

During the past months, the federal government has been funding the monthly salaries of employees in the Kurdistan Region, with the exception of the salaries of the military, and Kurdish officials in the regional government say that there are no political or legal problems behind this, and it is up to technical issues and the audit of the lists of elements of the Peshmerga forces and the internal security forces.

https://shafaq.com/ar/كوردســتانيات/مالية-كوردستان-تعلن-يداع-نحو-700-مليار-دينار-بحسابها-رواتب-القوات-ال-منية-بال-قليم