Fri. AM TNT News Articles 1-21-22



Parliamentary Moves To Reduce The Price Of The Dollar In The Next Parliamentary Session

20th January, 2022

Representative of the State of Law coalition, Hussein Nehme, confirmed, on Thursday, that the next parliament session will put the file of the high exchange rate on the parliament table.

Nehme said in a statement to the “Information” agency, that “there is a great parliamentary move by members of the state of law to reduce the dollar exchange rate and return it to its previous position,” noting that “our project in the fifth session is to reduce the price of the dollar.”

He added that “there are great moves to put the dollar file on the parliament table in the next session to ensure a reduction in its price in the coming days.” He pointed out that “the rise in the price of the dollar by the government raised the prices of all foodstuffs and made the market in a very difficult situation due to the rise, which directly affected the citizens.”

The economic expert, Nabil Jabbar Al-Ali, expected, earlier, a jump in oil prices during the coming days, after stabilizing the threshold of 75 dollars, stressing that the recovery of oil prices is a justification for reconsidering the exchange rate of the dollar?

Earlier, contractors in Diyala province accused the caretaker prime minister, Mustafa Al-Kazemi, of being behind the setback in the construction market and its decline by more than 40%. 

It may exceed $100 a barrel.. Expectations of a rise in global oil prices

Rising Global Demand, Supply Disruptions And International Political Tension Have Raised Concerns About Crude Supplies, Sending Oil Prices To Their Highest In Seven Years, With Some Predicting Crude Could Reach $100 A Barrel. 

This Has Attracted More Oil Buyers From The United States. Increased Exports And Decreased Domestic Crude Stocks, According To “Reuters”.

Seaborne Crude Oil Exports Have Increased In Recent Weeks And Are Approaching 3 Million Barrels Per Day So Far This Month, According To Matt Smith, Lead Oil Analyst For The Americas At Kpler. That Was Just Below The Average Of 3.2 Million Barrels Per Day For Crude Exports In December, The Strongest Month Since February 2020, He Said.

Shipping Data On Refinitiv Eikon Showed That Shipments Booked For The Month Of February Were Heading To Several Countries Including China, South Korea And India. These Three Are Among The Largest Regular Buyers Of US Crude.

The International Energy Agency Said, On Thursday, That Global Demand In Asia In 2022 Is Expected To Rise By 4% To 37.2 Million Barrels Per Day, Making It The Only Major Region Ahead Of The 2019 Pace.


An economic expert: The decision to remove Iraq from the money laundering list is an opportunity for Iraqi

The expert in economic affairs, Safwan Qusay, confirmed that the European Commission’s decision to remove Iraq from high-risk countries is an opportunity to enhance the openness of Iraqi private and public banks towards the international banking environment.

Qusay said in a statement to the National Iraqi News Agency / NINA / in light of the growing positive outlook towards the Iraqi economy from abroad after fulfilling the debt obligations arising from the Kuwait war, the European Commission’s decision came to remove Iraq from the countries with high risks to enhance Iraq’s ability to attract foreign direct investment and an opportunity to enhance The openness of Iraqi private and public banks towards the international banking environment.

He added, “This decision will enable Iraq to track the movement of funds abroad by allowing Iraq to deal with major international banks, and this will support the process of reducing the cost of obtaining funds from the international environment, and this will be reflected in increasing the ability of local banks to finance to increase support for the regular private sector to be a partner in real development.

He added, “The growth of the Iraqi banking sector will enhance the workspace of the Iraqi economy globally, especially since Iraq aspires to be the capital of the new Middle East due to its financial and human capabilities, in addition to its strategic location and acceptance by all countries of the world. All financial and material measures to arrive at an economic model commensurate with the needs of the global environment.”

The economic expert stressed the need to enhance external confidence in the local financial system by supporting confidence in the banking system locally through guaranteed banking products at costs commensurate with the need for local growth. link

Source: Dinar Recaps


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