Thursday, December 12, 2024
Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation, 12 DEC
Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation
December 11, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation, which included the Director of the Financial Sector of the Corporation in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zughair, the Resident Representative in Iraq, the Financial Investment Officer, and the Head of the Advisory Department.
During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of cooperation between local banks and correspondent banks with technical support from the Corporation, and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman).
His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign contributions, which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing.
The meeting discussed the importance of launching Riyada Bank next year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.
Central Bank of Iraq
Media Office
December 11, 2024
BARATEL: " THE RV HAPPENING NOW IN COUNTRY FOR IRAQI CITIZENS" , 12 DEC
Baratel
RV happening now in country for Iraqi citizens.
in country exchange rates are $3.70 in country rate for govt officials, $3.50 for dong.
They exchanged and got back dinar at higher rate.
FRANK26: "PARLIAMENT BUYS & STEALS VOTES., 12 DEC
KTFA
FRANK26: "PARLIAMENT BUYS & STEALS VOTES.".........F26
Economist: Budget amendment will raise the fiscal deficit
12/10/2024
Information/Special..
Today, Tuesday, economic expert Abdul Rahman Al-Mashhadani expected an increase in the deficit in the financial budget by the end of this year and Iraq's inability to pay its debts to international institutions during the coming period.
Al-Mashhadani said in an interview with Al-Maalouma Agency, “Amending new paragraphs in the financial budget law will lead to raising the total budget to 250 trillion, and this is beyond the available capacity, and the planned deficit rate is 64 trillion dinars.” , and will rise to 30 trillion by the end of this year, ” noting that “some proposals aim to gain electoral gains, considering that next year will witness the holding of general elections.”
He added that "all expectations indicate that Iraq's debt will increase in the coming years and may reach more than 70 percent of the gross domestic product, and thus will affect the payment of salaries, as well as the payment of interest on the debt and installments owed by Iraq to international institutions," indicating that "this matter entails major economic and political issues."
It is noteworthy that the House of Representatives previously hosted Prime Minister Mohammed Shia Al-Sudani and his deputies, the Minister of Planning, the Minister of Foreign Affairs, and the Minister of Interior, where the amendments to the budget for next year 2025 were discussed .
EXCERPTS FROM MARKZ: : " IRAQ CONTRACTS ARE RENEGOTIATING RATES OF THEIR CONTRACTS WITH IRAQ, 12 DEC
EXCERPTS FROM MARKZ
Member: Texas snake has great news as well … similar to yours!
MZ: I am hearing that we are about to see Maliki’s removal from the political scene in Iraq.
And completely removing Iranian influence. ….AND AN RV.
This is what some very excited folks in Iraq shared with me this morning –which makes me feel exceptionally good. I believe we are about to see Sudani’s opposition disappear…Maliki is the one who has been backstabbing and stalling things.
MZ: I have gotten another report from another Iraq contractor saying that they are due to renegotiate rates on their contracts with the government of Iraq this week. So I am going to say that the rumors out there with contractors are true at this point. I am definitely hearing that a number of contractors are negotiating rates on contracts in the low $3 range. This has me exceptionally excited.
Member: Are Zim bonds the same as historic bonds?
MZ: No- Zim bonds are not historic bonds….they are totally separate. I am also told that the Zim that we hold is expected to go when the currencies go.
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