The US Treasury praises the actions of the government and the Central Bank in the Washington meetings
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
[rtl]Samir Al-Nusairi[/rtl]
[rtl]During the visit of the Prime Minister to Washington and his meeting, in the presence of the Governor of the Central Bank, with the US Treasury delegation, and the negotiations that took place regarding the financial and banking reform strategy implemented by the government and the Central Bank, the American side emphasized its praise of the reform measures and steps, which resulted in organizing foreign trade financing and complying with international standards in 2023 and the past months of 2024, and to bridge part of the gap between the official price and the price equivalent to the dinar exchange rate against the US dollar. This refutes the criticisms, allegations and media exaggerations of some satellite channels by insulting the Central Bank and the banking sector and pointing out some violations in the issue of controlling the monetary dollar, which were addressed at the time of the beginning of the application of the electronic platform. What is important and what must be confirmed now is that 100% of the external transfers that were made were in accordance with the relationship What is new between our banks and international correspondent banks, in accordance with the instructions and mechanisms of the electronic platform, are sound and transparent transfers in accordance with international standards, and that the window for selling foreign currency is an economic indicator that achieves one of the objectives of monetary policy.[/rtl]
[rtl] “Accusing the Central Bank and banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling, and the proposition that says selling currency is a waste of public money is a description that has nothing to do with the economic process.”[/rtl]
[rtl]It must be noted that “the process of the currency sale window began to be implemented by the Central Bank on 10/4/2004 in implementation of Article 28 of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and this process has continued to meet the needs of the Ministry of Finance for currency.” The local government, for the purposes of the operating budget, purchased the dinar from the public for the purpose of controlling liquidity levels, which is known as the monetary sterilization process on the one hand, and to recycle the dinar and resell it to the Ministry of Finance for the purposes of paying salaries and wages, securing government expenditures, as well as meeting and covering imports, and maintaining the stability of the exchange rate targeted by the Central Bank.[/rtl]
[rtl] “The foreign currency selling window is considered one of the largest open market operations in controlling local liquidity levels and putting the cash surplus on its proper paths. It is a good economic indicator and achieves one of the goals of monetary policy, and this is consistent with the multi-dimensional functions that the Central Bank of Iraq performs, as it is concerned with financial stability.” It manages the payments system, manages foreign reserves, licenses and monitors banks and financial institutions, and sets preventive controls, in addition to other tasks related to monetary issuance and publishing economic data, indicators and forecasts.”[/rtl]
[rtl] “The basic tasks carried out by the central bank are to manage monetary policy, which aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.”[/rtl]
99 views
Added 04/23/2024 - 9:26 AM
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
[rtl]Samir Al-Nusairi[/rtl]
[rtl]During the visit of the Prime Minister to Washington and his meeting, in the presence of the Governor of the Central Bank, with the US Treasury delegation, and the negotiations that took place regarding the financial and banking reform strategy implemented by the government and the Central Bank, the American side emphasized its praise of the reform measures and steps, which resulted in organizing foreign trade financing and complying with international standards in 2023 and the past months of 2024, and to bridge part of the gap between the official price and the price equivalent to the dinar exchange rate against the US dollar. This refutes the criticisms, allegations and media exaggerations of some satellite channels by insulting the Central Bank and the banking sector and pointing out some violations in the issue of controlling the monetary dollar, which were addressed at the time of the beginning of the application of the electronic platform. What is important and what must be confirmed now is that 100% of the external transfers that were made were in accordance with the relationship What is new between our banks and international correspondent banks, in accordance with the instructions and mechanisms of the electronic platform, are sound and transparent transfers in accordance with international standards, and that the window for selling foreign currency is an economic indicator that achieves one of the objectives of monetary policy.[/rtl]
[rtl] “Accusing the Central Bank and banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling, and the proposition that says selling currency is a waste of public money is a description that has nothing to do with the economic process.”[/rtl]
[rtl]It must be noted that “the process of the currency sale window began to be implemented by the Central Bank on 10/4/2004 in implementation of Article 28 of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and this process has continued to meet the needs of the Ministry of Finance for currency.” The local government, for the purposes of the operating budget, purchased the dinar from the public for the purpose of controlling liquidity levels, which is known as the monetary sterilization process on the one hand, and to recycle the dinar and resell it to the Ministry of Finance for the purposes of paying salaries and wages, securing government expenditures, as well as meeting and covering imports, and maintaining the stability of the exchange rate targeted by the Central Bank.[/rtl]
[rtl] “The foreign currency selling window is considered one of the largest open market operations in controlling local liquidity levels and putting the cash surplus on its proper paths. It is a good economic indicator and achieves one of the goals of monetary policy, and this is consistent with the multi-dimensional functions that the Central Bank of Iraq performs, as it is concerned with financial stability.” It manages the payments system, manages foreign reserves, licenses and monitors banks and financial institutions, and sets preventive controls, in addition to other tasks related to monetary issuance and publishing economic data, indicators and forecasts.”[/rtl]
[rtl] “The basic tasks carried out by the central bank are to manage monetary policy, which aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.”[/rtl]
99 views
Added 04/23/2024 - 9:26 AM
[You must be registered and logged in to see this link.]
Today at 5:15 am by Rocky
» Al-Alaq describes the parallel dollar as “abnormal”: There is great stability in prices
Today at 5:14 am by Rocky
» utube 11/8/24 MM&C MM&C -Iraq Dinar-International Stability-Financial System-IMF-Art
Today at 5:08 am by Rocky
» utube 11/5/24 MM&C MM&C News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removi
Today at 5:05 am by Rocky
» Foreign Ministry: Iraqi-Saudi Coordination Council to convene in Baghdad next month
Today at 5:04 am by Rocky
» Travelers demand cancellation of electronic reservations by government banks in selling them dollars
Today at 5:03 am by Rocky
» Al-Sudani directs to increase bank branches to expand financial services and modernize buildings in
Today at 5:01 am by Rocky
» Census Without Nationalities: An Attempt to Write a New Narrative of Iraq’s Unity
Today at 4:59 am by Rocky
» Diplomatic Embrace or the Specter of Sanctions: Iraq Sways in Positions towards Trump
Today at 4:58 am by Rocky
» The National: The British Army Returns to Iraq Under New Pretext
Today at 4:57 am by Rocky
» Zidane and Al-Mandlawi discuss the issue of approving laws related to the work of the judiciary
Today at 4:55 am by Rocky
» MP: The ministerial change is not linked to a specific component or party
Today at 4:54 am by Rocky
» For these reasons, Al-Mashhadani came to power as Speaker of Parliament.
Today at 4:53 am by Rocky
» Al-Kroui to Al-Maalouma: 4 oil and gas fields on the table of the upcoming licensing rounds
Today at 4:51 am by Rocky
» Raouf: The region needs more time to form the new government
Today at 4:50 am by Rocky
» Al-Sudani issues 6 directives to increase financial inclusion and raise its indicators in all govern
Today at 4:49 am by Rocky
» Kurdistan Men's Union Diagnoses Danger Threatening Society's "Collapse" and Proposes Polygamy
Today at 4:47 am by Rocky
» Anbar explains details of the Western Desert irrigation project and sets its opening date
Today at 4:46 am by Rocky
» Large ships at the five berths of Al-Faw Port
Today at 4:44 am by Rocky
» Al-Marsoumi: Faw Port and Development Road will generate revenues worth 6 trillion dinars in 2038
Today at 4:43 am by Rocky
» Nearly half of Iraq's factories are "stopped"... moves to rescue them
Today at 4:42 am by Rocky
» Gulf central banks follow the Federal Reserve and cut interest rates
Today at 4:41 am by Rocky
» Iraqis are the most likely to buy real estate in Jordan in 2024
Today at 4:39 am by Rocky
» Iranian-Sudanese agreement to expand economic and trade cooperation
Today at 4:38 am by Rocky
» Completion of 670 schools in all Iraqi governorates
Today at 4:38 am by Rocky
» Al-Sudani's advisor: We have put in place a mechanism to provide loans to these groups
Today at 4:37 am by Rocky
» A set of recommendations from Al-Sudani to reform the financial and banking system in Iraq
Today at 4:36 am by Rocky
» A dialogue seminar in Basra discusses the anti-torture file and fair trial mechanisms
Today at 4:33 am by Rocky
» The conclusion of the Ninth International Scientific Conference of the College of Veterinary Medicin
Today at 4:32 am by Rocky
» Minister of Interior from Amman: The government has launched a major campaign to improve the service
Today at 4:31 am by Rocky
» Al-Bujari: The Grand Faw Port Project is an opportunity to do justice to graduates of maritime speci
Today at 4:29 am by Rocky
» Al-Sudani announces a package of new banking directives to enhance financial inclusion in the govern
Today at 4:27 am by Rocky
» Iraqi oil returns to gains as Iran-Israel tensions escalate
Today at 4:25 am by Rocky
» Next week... Parliament is close to resolving the controversial laws
Today at 4:22 am by Rocky
» Zidane discusses with Mandalawi and Maliki cooperation between the judicial and legislative authorit
Today at 4:21 am by Rocky
» Al-Atwani to Al-Maliki: We have embarked on a new philosophy for managing the financial sector based
Today at 4:20 am by Rocky
» Al-Sudani issues a set of recommendations to reform the financial and banking system in Iraq
Today at 4:18 am by Rocky
» Iraq's Maritime Future.. Everything You Need to Know About Faw Port and Completion Rates (Video)
Today at 4:17 am by Rocky
» Trump poses a threat to Iraq's budget
Today at 4:16 am by Rocky
» A detailed explanation of the implications of Trump’s victory on Iraqi oil policy
Today at 4:14 am by Rocky
» Minister of Interior inaugurates the unified card system at the Iraqi Consulate in Jordan
Today at 4:13 am by Rocky
» Iraqi Parliament extends its legislative term until the ninth of next month
Today at 4:11 am by Rocky
» Parliamentary Services: We will hold accountable those responsible for the failure in the sewage dep
Today at 4:09 am by Rocky
» Urgent demands to withdraw US forces and warning against Washington's procrastination
Today at 4:08 am by Rocky
» Why did Qatar enter the Total project: A report criticizes China’s “colonial entry” into Iraq
Today at 4:06 am by Rocky
» Parliamentary movement to pass 5 “important” laws
Today at 4:05 am by Rocky
» Iraqi congratulations and divided positions.. What after Trump's victory?
Today at 4:04 am by Rocky
» Parliament Presidency decides to extend legislative session for 30 days
Today at 4:01 am by Rocky
» Government Media Announces Completion of 670 Model Schools in All Governorates
Today at 4:00 am by Rocky
» More than 10 billion dinars.. Sulaymaniyah and Halabja imports in a week
Today at 3:59 am by Rocky
» Parliamentarian reveals reasons behind the phenomenon of "loose weapons" and details of the state ad
Today at 3:56 am by Rocky
» "Everything Above Ground"... What does the population census include?
Today at 3:53 am by Rocky
» Increasing complaints and slow processing of transactions.. Demands for the necessity of replacing t
Today at 3:52 am by Rocky
» Can Iraq prosecute Trump using old arrest warrant?
Today at 3:50 am by Rocky
» Calls to revive 35,000 idle factories
Yesterday at 7:35 am by Bama Diva
» utube 11/2/24 MM&C Report-Iraq 3 Presidents-National-Constitutional Entitlements-Open Market Operati
Yesterday at 6:51 am by Rocky
» With the document.. Cancellation of the suspension of the agricultural plan in the Iraqi "breadbaske
Yesterday at 5:13 am by Rocky
» Economist criticizes government's neglect of tourism, agriculture and dependence on oil
Yesterday at 5:12 am by Rocky
» Al-Sudani: The development path will be an artery linking most countries in the region
Yesterday at 5:11 am by Rocky
» Parliamentary bloc: Popular Mobilization Forces retirement law ready for voting
Yesterday at 5:10 am by Rocky
» Al-Kadhimi: Financial costs and government insistence will force Americans to withdraw militarily
Yesterday at 5:09 am by Rocky
» Parliamentary Committee Rejects Inclusion of Public Money Thieves in Amnesty Decision
Yesterday at 5:08 am by Rocky
» Al-Mashhadani directs to resolve differences over draft laws before submitting them to Parliament
Yesterday at 5:07 am by Rocky
» Emaar: Launching the housing loan application form in early 2025
Yesterday at 5:04 am by Rocky
» Parliamentary Health: The environment needs 2.6 billion dinars to operate air purification stations
Yesterday at 5:03 am by Rocky
» Al-Sudani: We faced major challenges in implementing the “Greater Iraq” project
Yesterday at 5:02 am by Rocky
» Iraqi Ports reveals in numbers the percentage of completion in the Grand Faw Port projects
Yesterday at 5:00 am by Rocky
» More than $300 million.. Central Bank sales increase in today's auction
Yesterday at 4:59 am by Rocky
» Faw Port prepares to receive the first commercial ship
Yesterday at 4:57 am by Rocky
» Service Effort of {Sabah}: Completing all projects with high implementation rates before the end of
Yesterday at 4:57 am by Rocky
» Government agency for digital transformation
Yesterday at 4:55 am by Rocky
» Parliamentary Committee: Final version of the National Day Law
Yesterday at 4:54 am by Rocky
» Al-Imar to {Sabah}: Launching the housing loan application form at the beginning of 2025
Yesterday at 4:53 am by Rocky
» Iraq looks forward to a new phase after Trump's victory
Yesterday at 4:52 am by Rocky
» Training workshops to help the unemployed in Kirkuk
Yesterday at 4:51 am by Rocky
» Nineveh to open oncology hospital in early 2025
Yesterday at 4:50 am by Rocky
» Service Effort: Completion of all projects that exceeded 80% completion rates.
Yesterday at 4:49 am by Rocky
» Parliamentary Health: The environment needs 2.6 billion dinars to operate air purification stations
Yesterday at 4:48 am by Rocky
» Transportation: 20 public transport lines to be launched this month
Yesterday at 4:47 am by Rocky
» Al-Emaar to {Al-Sabah}: Launching the housing loan application form in early 2025
Yesterday at 4:46 am by Rocky
» The most prominent achievements of Al-Sudani's government in the youth care and sports sector files
Yesterday at 4:45 am by Rocky
» Planning: The percentage of women in the workforce does not exceed 13 percent
Yesterday at 4:43 am by Rocky
» Baghdad is the capital of Arab tourism
Yesterday at 4:42 am by Rocky
» Al-Sudani: The Grand Faw Port is Iraq's largest project
Yesterday at 4:39 am by Rocky
» Parliamentary Foreign Affairs Committee to NINA: This is what is delaying the selection of the list
Yesterday at 4:38 am by Rocky
» Parliamentary lawsuit to challenge the contract with the International Finance Corporation
Yesterday at 4:37 am by Rocky
» Minister of Justice issues directive regarding foreign lawsuits file
Yesterday at 4:35 am by Rocky
» How will Trump's victory affect Iraq?
Yesterday at 4:33 am by Rocky
» State Administration Coalition holds meeting with Al-Sudani and Al-Mashhadani in attendance
Yesterday at 4:31 am by Rocky
» Formation of the regional government.. How much influence does the new US administration have on the
Yesterday at 4:30 am by Rocky
» Al-Sudani announces the receipt of the five berths that represent the backbone of Al-Faw Port
Yesterday at 4:29 am by Rocky
» Despite its global rise... Iraqi oil returns to the red zone
Yesterday at 4:27 am by Rocky
» Iraq Counts on the Grand Faw Port, and an Expert Says: It Will Change the Economy - Urgent
Yesterday at 4:25 am by Rocky
» Rafidain Bank expands comprehensive banking system to include 48 branches
Yesterday at 4:23 am by Rocky
» "The reference" indicates the seriousness of the situation... and the political forces "shuffle the
Yesterday at 4:22 am by Rocky
» Criminal wanted by Iraqi judiciary.. Rashid and Al-Sudani’s congratulations to Trump spark widesprea
Yesterday at 4:21 am by Rocky
» State Administration Coalition holds meeting with Al-Sudani and Al-Mashhadani in attendance
Yesterday at 4:19 am by Rocky
» Parliamentary Security and Defense: There are “fake” security companies run by “suspicious” figures
Yesterday at 4:18 am by Rocky
» Fares Issa meets the Czech Ambassador to Iraq
Yesterday at 4:17 am by Rocky