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Mon. AM TNT News Articles 11-7-22

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TNT

Tishwash:
The Central Bank stops dealing in dollars with four banks in Iraq (document)

The Central Bank of Iraq issued a circular to all approved banks and non-bank financial institutions.  

And the bank confirmed, in a letter obtained by “NAS” (November 7, 2022), that “for auditing purposes, it was decided to stop dealing in the US dollar currency for the banks listed below, with the permissibility of dealing with them in other currencies.”   link

Dollar sales in the Central Bank of Iraq fall to the lowest level in two years

Dollar sales in the bank’s auction fell today, Monday, to the lowest level in nearly two years, to just over $80 million.

Shafak News Agency correspondent stated, “The Central Bank sold today, during its auction to buy and sell US dollars, 80 million and 337 thousand and 582 dollars, which were covered by the bank at a base exchange rate of 1460 dinars per dollar.

The average sales of the bank during the past week amounted to 158 million dollars.

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Our correspondent added that 91% of these sales went to enhance balances abroad in the form of remittances and credits, which amounted to 73 million and 537 thousand 582 dollars, while the rest went in the form of cash sales, which amounted to 6 million and 800 thousand dollars.

Our correspondent indicated that 15 banks have responded to requests to enhance balances abroad, and 8 banks to meet cash requests, in addition to 21 mediation companies. link

The 2023 budget is on its way to Parliament.. a time limit for access and passage

Today, Monday, the Parliamentary Finance Committee confirmed that it did .not know the details of the draft new budget law for the year 2023 Committee member Jamal Cougar told (Baghdad Today) that “until this moment, the Parliamentary Finance Committee does not know anything about the draft budget law for the year 2023,” stressing, “We do not have any information about its paragraphs, as . “.it is still under study and construction by the government

He added, “We expect that the draft budget law for the year 2023 will reach the Iraqi “.parliament within the next (20) days He pointed out that “Parliament will work to legislate it before the end of the current “.year, after studying it well

Yesterday, Sunday, independent MP Hamid Al-Maliki submitted a proposal to the Ministry of Planning and the Finance Committee to prepare a medium- .term budget for a period of 3 years Al-Maliki said in a press conference held in the House of Representatives and attended by (Baghdad today), that “we submitted a proposal to the Ministry of Planning and the Parliamentary Finance Committee to prepare a medium-term budget for a period of “.three years

He added that “according to the provisions of Article 4 Second of the Financial Management Law No. 6 of 2019, which states the following, the Federal Ministry of Finance must prepare a medium-term budget for a period of three years, to be submitted once and legislated. For the second and third years, with the approval of the .House of Representatives

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He pointed out that “we asked the above authorities to consider this proposal, which is based on realistic justifications, and with the aim of developing a financial plan for the state with an average time ceiling that must be carried out in terms of programs and “.projects, and an estimate of current and investment revenues and expenditures  link

A wave of protests is expected..Ayn al-Sadr is looking towards a comprehensive escalation against the government (report)

The American network, “MSN”, suggested that the leader of the Sadrist movement, Muqtada al-Sadr, would “exploit” what it said were “expected demonstrations” during the next few months to topple the newly formed government of Prime Minister Muhammad Shia al-Sudani, before the latter .succeeded in arranging his papers enough to exclude the Sadrists

And the network stated in a report published on the seventh of this November and translated by (Baghdad Today), that “Al-Sadr’s followers see in Al-Sudani’s personality as a follower of former Prime Minister Nuri Al-Maliki, and they expect him to target their “.interests by using his government authority in the coming period She added, “It is certain that al-Sadr, on his part, is preparing to exploit the Iraqi street “.against the Sudanese and his government

The network indicated in its report that “in view of the difficult conditions of the country and the spread of unemployment rates, which reached nearly forty percent of the total Iraqi youth, the failure of Prime Minister Muhammad Shia Al-Sudani to exploit the current financial liquidity enjoyed by the Iraqi budget will lead to an increase in popular discontent amid a current rise

The momentum of the popular demonstrations again, .which continues now intermittently,” referring to the October 2019 demonstrations The network indicated in its report that “the wave of demonstrations expected to erupt in the coming months as a result of the continuing crises of unemployment, the lack of services and the economic decline, according to its description, will lead to its exploitation by Al-Sadr to take a proactive step against the Sudanese, during which he can topple his government before the latter succeeds in arranging his papers.” enough “.to oust the Sadrist  link 

Source: Dinar Recaps

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