Al-Sudani: Iraq has become a reliable pivotal state in the region and the world, 21 DEC

Al-Sudani: Iraq has become a reliable pivotal state in the region and the world

Baghdad – Mil

The Council of Ministers, Mohammed Shia Al-Sudani, said that Iraq has become a reliable pivotal state in the region and the world, and pointed out that the religious authority emphasized the “6 principles”, and we are required to work hard to implement them.
Al-Sudani said during a televised interview with official television that will be shown later, “Iraq today is a reliable pivotal country in the region and the world.”

He added, “We have good relations with our Arab, international and regional surroundings.”

He pointed out that “the religious authority confirmed the “6 principles”, and we are required to work hard to implement them.”

https://miliq.news/political/40157–.html

NADER FROM MID EAST CC HIGHLIGHTS NOTES, 21 DEC

 NADER FROM MID EAST CC HIGHLIGHTS NOTES

Summary

Iraq’s dinar faces ongoing instability against the US dollar, driven by weak policies, market manipulation, and external sanctions.

Highlights

• 💵 Dinar’s instability persists against the dollar, surpassing 1,520 dinars per dollar on the streets.
• 📉 Experts attribute volatility to weak monetary policies and unchecked market manipulation.
• 🚧 US sanctions on Syria and Iran hinder legitimate trade, leading to dollar smuggling.
• 📊 Economic dynamics from the Syrian conflict increase demand for dollars, affecting local traders.
• 🏦 Central Bank’s shift to foreign banks raises concerns about monopolization and dollar supply bottlenecks.
• 🔄 Transition to new banking frameworks aims to stabilize currency but skepticism remains.
• ⚖️ Unofficial rates driven by illicit practices create a false disparity, impacting the economy.

Key Insights

• 💸 The dinar’s depreciation highlights the urgent need for comprehensive monetary reforms to stabilize the economy. Without these changes, currency fluctuations will persist.
• 🤔 Weak government policies and market manipulation expose the fragility of Iraq’s economic framework, leading to increased prices on basic goods and services.
• 🌍 External factors, including US sanctions and regional conflicts, significantly influence Iraq’s currency stability, underscoring the interconnectedness of global economics.
• 🔍 The shift to foreign banks for dollar transactions could monopolize the market, sidelining local banks and exacerbating supply issues.
• 📈 The Iraqi Central Bank’s reassurances about currency stability reflect a broader strategy but lack concrete enforcement measures to ensure compliance.
• ⚠️ The persistence of currency smuggling and illicit activities undermines market stability, leading to higher costs for consumers and businesses.
• 🎯 Addressing the disparity between official and unofficial exchange rates is crucial for restoring trust in the currency and improving economic conditions for Iraqis.

MARKZ: "Sometime between now and the first of the year " @DINARREVALUATION #iraqidinarinvestor

 

Iraq market achieves a big jump in traded shares and their financial value, 21 DEC

Iraq market achieves a big jump in traded shares and their financial value

Shafaq News / The Iraq Stock Exchange said on Thursday that it traded shares with a financial value of more than 27 billion Iraqi dinars during its organization of five sessions during this week, which is almost over.

According to weekly trading indicators, the number of shares traded during this week reached more than (28) billion shares with a financial value of more than (27) billion dinars.

The ISX60 market trading index closed for the first session of the week at (1043.11) points, while the index closed at the weekend at (1054.42) points, achieving a rise of (1.07%) from its closure at the beginning of the session.

The ISX15 market trading index closed for the first session of the week at (1150.48) points, while the index closed at the weekend at the end of (1168.63) points, achieving an increase of (1.55%) from its closure at the first session.

During the week (4097), a contract for sale and purchase was carried out on the shares of companies listed in the market, according to market indicators.

Last week, the Iraq Stock Exchange announced that it was trading shares of more than 4 billion dinars during its organization of five trading sessions in the second week of December.

According to market indicators, the number of shares traded during the past week reached more than (6) billion shares with a financial value of more than 4 billion dinars.

https://www.shafaq.com/ar/اقتصـاد/سوق-العراق-يتداول-اسهما-بنحو-30-مليار-دينار-خلال-اسبوع-واحد

WOLVERINE UPDATE, 21 DEC

 Wolverine

 The Bank of America system crashed today, leaving panicked customers 0 balances.

 “I have talked to Paymasters and Reno.

 It’s all coming before Christmas.

 Platforms have to be closed by Friday, so it should be released between now and Saturday Morning. 

All platforms need to be close off at the latest by Saturday so they can start releasing those funds.

FIREFLY: " THESE COUNTRIES ARE DEALING WITH IRAQ BECAUSE THEIR PROGRAM NEW RATE!!! @DINARREVALUATION

 

What are the objectives of expanding external transfer channels by the Central Bank of Iraq?, 21 DEC

 What are the objectives of expanding external transfer channels by the Central Bank of Iraq?

Baghdad Today – Baghdad

The specialist in economic affairs, Alaa Al-Fahd, revealed on Thursday (December 19, 2024), the Central Bank of Iraq’s goal of expanding external transfer channels for local banks.

Al-Fahd said, in an interview with Baghdad Today, that “within the central bank’s policy and its continuous attempts to control foreign remittances to finance trade, especially in dollars, there is a continuous effort to expand the basket of foreign currencies that are used in import, especially with countries where we have import transactions, the transfer is in the currencies of the countries, and there was an agreement on this with the Turkish side, as well as the UAE, with China and today with Jordan and Saudi Arabia.”

He pointed out that “this step reduces the demand for the dollar to finance foreign trade, as most of the demand for the dollar is to finance foreign trade, and with the expansion of the basket of currencies, the pressure in the parallel (black) market on the dollar decreases, and this reduces the exchange rate in the local market.”

He added that “this step will also allow many banks to deal with many countries according to the currencies of those countries and this strengthens a major role in developing the work of banks in terms of expertise, and its main goal is to control the dollar exchange rate and work to reduce it.”

https://baghdadtoday.news/264256-ما-اهداف-توسيع-قنوات-التحويل-الخارجي-من-قبل-البنك-المركزي-العراقي؟.html