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Tues. AM TNT News Articles 5-24-22

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TNT

Tishwash:
Parliamentary meeting to discuss the Food Security Law before referring it to the second reading

The Parliamentary Finance Committee held, today, Tuesday, a meeting to discuss the Food Security Law before referring it to the second reading

And the Media Department of the House of Representatives stated in a brief statement received by Alsumaria News, that “the Parliamentary Finance Committee held a meeting to discuss the emergency support law for food security and development before referring it to the second reading.   link

CandyKisses:
UNAMI invites the region’s parties to a closed meeting next Thursday

Baghdad / Obelisk: The United Nations Assistance Mission for Iraq “UNAMI” called on Monday, May 23, 2022, representatives of political parties in the Kurdistan region to a joint closed meeting within days.  

This came in a statement by the mission, which was received by Al-Masala, that it is inviting representatives of political parties in the Kurdistan region to a joint closed meeting on Thursday, May 26.

The statement added: With the approach of the Kurdistan Region elections scheduled for October 1, 2022, this meeting provides a good and timely opportunity to exchange views directly.

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Tishwash:
Iraq raises the value of its investments in US bonds, and the financial advisor comments

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, said on Tuesday that the application of investment guides to the country’s foreign reserves represents the efficient management of the country’s reserves and maintains its constant purchasing power while maintaining its liquidity, commenting on the rise in the value of Iraqi investments in US bonds to $26 billion.  

Saleh said, in a statement to the official newspaper, followed by “Nass” (May 24, 2022), that “there is a dangerous confusion in understanding the international financial relations of Iraq, as well as a confusion between monetary policy, its reserves, public finances, and its budgets.

The reserves of the Central Bank are monetary or foreign financial assets that employ For the stability of the value of the Iraqi dinar or the so-called national currency cover to ensure the stability of the purchasing power of the Iraqi dinar, they are not resources for the general budget in the end, but rather the resources of monetary policy to protect the external value of the Iraqi dinar, and these reserves represent the important aspect of the investment portfolio of the Central Bank of Iraq.  

He added that “Those foreign currency reserves are invested within the balance sheet of the Central Bank of Iraq in accordance with standard investment guides issued by international multilateral financial institutions, including investment opportunities in short-term financial instruments or quasi-money such as US treasury bonds because of their high liquidity, which at the same time have a credit rating.

Class AAA, which means that the degree of confidence and security in it is high, and the importance of applying investment guides to the country’s foreign reserves to represent the efficient management of the country’s reserves and maintaining its constant purchasing power while maintaining its liquidity while achieving a good benefit at the same time.

The US dollar is currently on the rise, and it is a policy practiced by the Central Bank of Iraq within its strong and successful strategies, and it is an important part of managing the US reserves. The country’s foreign currency, which today exceeded 70 billion dollars.”  

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Yesterday, Monday, the US Treasury announced that Iraq’s possession of US bonds had risen to more than two billion dollars during the month of March, to total more than 26 billion dollars.     link

Source: Dinar Recaps

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