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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Iraqi markets are awaiting the visit of the Iraqi delegation to Washington to discuss "Swift".

    rocky
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    • Post n°1

    The Iraqi markets are awaiting the visit of the Iraqi delegation to Washington to discuss "Swift". Empty The Iraqi markets are awaiting the visit of the Iraqi delegation to Washington to discuss "Swift".

    Post by rocky Mon Feb 06, 2023 7:55 am

    The Iraqi markets are awaiting the visit of the Iraqi delegation to Washington to discuss "Swift".

    [ltr]2023.02.06 - 12:05[/ltr]


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    Baghdad - Nas  
    Amidst an American welcome, and Iraqi caution and anticipation, tomorrow, Tuesday, the Iraqi delegation, headed by Foreign Minister Fuad Hussein, will begin to visit the United States, after the US Federal Bank's decision to place restrictions on the transfers of the Central Bank of Iraq due to its non-compliance with the "Swift" system.  
      
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    The talks, which were held in Istanbul by the Governor of the Central Bank of Iraq, Ali Al-Alaq, and the Assistant Secretary of the US Treasury, led to a relative decrease in dollar prices, which witnessed a sharp rise in the Iraqi markets last week, after monitoring the transfer process and stopping the bleeding of currency smuggling outside Iraq.  
      
    And some dealers in dollar prices said, “At a time when all banking companies seem not to work because they do not know what might happen tomorrow or the day after tomorrow, everyone is ready to buy the dollar in any amount that can be offered due to its scarcity.”  
      
    Observers in the dollar buying and selling market believe that “this is normal, and it is expected to be done by price speculators in the parallel market for the dollar, and in the end, banking companies, and even intermediary banks, despite the apparent paralysis of the situation, but they record large profits every week as a result of This fluctuation.  
      
    In addition, the process of instability of the dollar prices was reflected in the financial budget, which Parliament is still awaiting its arrival from the government in order to start discussing it in preparation for its approval. In this context, Jamal Cougar, a member of the Finance Committee in the Iraqi parliament, says that the budget will end the dollar speculation crisis and will raise the value of the dinar.  
      
    And Cougar added, in a statement to him, yesterday, Sunday, that “the government is determined to send the budget, during the coming days, and it is expected to reach Parliament at the end of the week,” noting that “the crisis cannot continue regarding the dollar, so the approval of the budget is a positive indicator and improvement.” strong for the Iraqi dinar; It will spend about 200 trillion dinars in the market, in exchange for the exchange of the dollar.  
      
    He pointed out that "the features of the budget for the current year are radically different from what they were in previous years, and will include reform measures within the government curriculum."  
      
    For his part, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, affirmed that "the economic freedom that the country provides in dealing with foreign transfers naturally is sufficient to reduce resort to economic crimes represented by the illegal depletion of funds."  
      
    He explained that «the coming days in Iraq will witness greater freedom for external transfer or transfer of foreign currency with flexible, transparent and arbitrary tools and means at the same time, and through the Iraqi banking system».  
      
    And Saleh continued, "The first soft procedural package launched by the Central Bank of Iraq is nothing but an expression of facilitating the legitimate and legal transfer of funds outside the country, which will cut off the trail of crimes that undermine national economic security."  
      
    The Istanbul talks coincided with the phone call that US President Joe Biden made with Iraqi Prime Minister Muhammad Shia'a al-Sudani, with the participation of Jordan's King Abdullah II, who is in Washington. However, this call, and the consequent American commitment to Iraq's stability, did not result in a significant decrease in Iraq's stability. Dollar prices are awaiting the results of the final talks that will be held by the Iraqi delegation heading to Washington, which was scheduled to include the Minister of Finance, Taif Sami, in addition to the Governor of the Central Bank.  
      
    And identical sources reported that a senior official at the Ministry of Finance will replace Sami in the membership of the delegation accompanying Foreign Minister Fuad Hussein. Observers, and even ordinary Iraqi citizens who deal in dollars, whether for normal commercial purposes, treatment, or tourism, are divided between those who believe that the dollar will restore stability without returning to the official price that was agreed upon during the period of the previous Iraqi government headed by Mustafa Al-Kazemi; It is 145,000 Iraqi dinars per US dollar.  
      
    In practice, the stock exchange witnesses dollar prices in the financial markets, whether in the Iraqi capital, Baghdad, or in other Iraqi cities and provinces. Including the city of Erbil, the capital of the Kurdistan region, was almost completely paralyzed.  
      
    Quoted from "Asharq Al-Awsat"   
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