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Mon. AM-PM TNT News Articles 1-16-23

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Tishwash:
The Prime Minister of Kurdistan leaves for Davos to participate in the World Economic Forum

The Prime Minister of Kurdistan Region, Masrour Barzani, left Erbil International Airport today, Monday, to participate in the World Economic Forum 2023 in the Swiss city of Davos.

A statement issued by the Presidency of the Regional Government, received by Shafaq News Agency, stated that the prime minister will hold, during the forum’s work, a series of meetings with political leaders and businessmen, in which he will deal with a number of files topped by economic diversification and banking services, in addition to discussing finding new markets for Kurdistan’s agricultural products. And opportunities for regional trade across the Kurdistan Region.

The discussions also shed light, according to the statement, on investing in minerals, oil, gas and renewable energy, in addition to discussing security and political developments in Iraq and the region, climate change and combating drought, as well as the results of the Davos Forum at last year’s session.

The statement indicated that the meetings and meetings held by the prime minister with a number of investors and representatives of the Gulf countries at the Davos Forum in the 2022 session culminated in the success of the process of exporting the Kurdistan pomegranate crop to several Gulf countries, and the export process is still continuing.

The prime minister’s meetings in the previous session of the forum also resulted, according to the statement, in an agreement to achieve more coordination and cooperation with many consulting firms and countries of the world, especially the United Kingdom and the United Arab Emirates, to advance various government sectors in the Kurdistan Region, including the banking and financial system, Enhancing foreign investment, electronic transformation in KRG institutions and departments, and diversifying revenues.  link 

So both governments in Iraq are at Davos

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The President of the Republic leaves the country for Switzerland

The President of the Republic, Abdul Latif Jamal Rashid, left today, Monday, Iraq, heading to Switzerland to participate in the meetings of the World Economic Forum in Davos.

A statement by the media office of the Presidency of the Republic, received by Earth News, said, ” The President of the Republic, Abd al-Latif Jamal Rashid, left Iraq, accompanied by Foreign Minister Fuad Hussein, heading to Switzerland to participate in the meetings of the World Economic Forum in Davos . “

He added that ” Rashid will participate in a number of seminars and dialogue sessions at the conference, to discuss several issues related to food security, sustainable development, regional and international partnerships to support the energy, agriculture and water sectors, confront climate change, combat corruption, develop infrastructure and protect society . “link

Economist: Al-Sudani’s visit to Germany will turn Iraq into a global investment opportunity in the field of gas and energy

The expert on economic affairs, Safwan Qusay, confirmed that Al-Sudani’s visit to Germany will contribute to transforming Iraq into a global investment opportunity in the field of gas and energy.

Qusai said in a statement to the National Iraqi News Agency ( NINA ): “The visit of Prime Minister Muhammad Shia’ al-Sudani to Germany comes as a prelude to turning Iraq into a global investment opportunity in the field of associated and liquefied gas, because Iraq is still burning gas at a rate of 2.5 billion dollars annually and imports the same amount.” for electric power generation.

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He added: “Iraq is in dire need to invest in the field of gas and operate its electrical stations with Iraqi gas, in addition to expanding the circle of dependence on gas in consumption in homes, factories and means of transportation, and then export at the same time.”

He explained: “Germany is considered a strategic ally in the energy sector to transfer Iraq’s gas to Europe, and German companies can now invest in other sectors in Iraq, such as railways, ships, medical materials, waste management, petrochemicals and other various industrial fields.”

Qusai continued: “We believe that the time is right for that, and this will motivate Asian countries, the United States of America and the United Kingdom to speed up entry into the Iraqi market and defend their share in the Iraqi environment.   link

Parliamentary anger at ignoring the discussion of the dollar crisis

The head of Zakho Al-Faw Gathering, independent MP Amer Abdul-Jabbar, warned, on Monday, of a major humanitarian crisis as a result of the crisis of the continued rise of the dollar, expressing his surprise at the failure to include a paragraph discussing the rise in the exchange rate of the dollar on the agenda of the session last Saturday. 

Abdul-Jabbar said in a statement to Al-Maalouma, “We are surprised that a paragraph was not included discussing the rise in the exchange rate of the dollar, despite the approval of First Deputy Mohsen Al-Mandalawi.” 

He added, “We collected about 182 parliamentary signatures in order to discuss the dollar crisis, which negatively affected daily employers, the poor, and those with limited income.” 

Abdul-Jabbar pointed out that “the House of Representatives supports the government’s measures to combat corruption and address the file of money laundering within private banks,” considering that “it is unacceptable to leave people facing high prices without finding solutions to the dollar crisis.” 

Earlier, the representative of the Sadiqun bloc, Uday Awad, accused Parliament Speaker Muhammad al-Halbousi of using his powers to confiscate the rights of other political forces, indicating that he had ignored the signatures of 200 parliamentarians regarding the dollar crisis.  link

The Central Bank reveals to Alsumaria the reasons for the rise in dollar prices

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The bank’s advisor, Ihsan Al-Yasiri, revealed the reasons for the rise in the exchange rates of the dollar against the dinar in the local markets, while noting that the exchange rates of the dollar will return to 1470 soon

Al-Yasiri said in an interview withAlsumaria NewsThe reasons for the rise in the exchange rate of the dollar are:Central Bank of Iraq More than a year ago, he started organizing the foreign trade financing sector, which is an important sector because the real productive sector is inIraqIt is not enough now to satisfy the public’s consumer demands

And he continued, “Therefore, import remains the largest funder of the public’s requirements, such as food and consumer goods, and others.”

Al-Yasiri pointed out that, “The Central Bank, after 2003, has become financing import operations through the window for selling foreign currency and is trying to improve the mechanisms of financing foreign trade to ensure the movement of the dollar and its access to those in need, whether it is cash dollars or financing foreign trade with remittances or credits.”

And the Central Bank advisor went on to say, “A year ago, we started building what is called (the platform), which is a mechanism through which banks raise their requests for the purpose of meeting the needs of financing foreign trade,” adding, “Previously, financing foreign trade also performed for the purposes of financing trade, but it did not produce information because The central bank was preparing funds for banks based on information provided by their customers.

He pointed out that “banks also carry out tasks of searching for the customer according to what is known as the task (know your customer), that is, knowing the nature of the customer and the sources of his money, and then the money goes out in favor of the customer, and after that the goods are returned.”

Al-Yasiri explained, “There are problems at the border crossings, that is, the financial authority, with regard to customs fees and tax secretariat fees,” noting that “this platform will organize the work very accurately.”

And he stressed that “the dollar that the bank receives goes to the beneficiary in exchange for real goods that return to the country,” noting that “this platform will make the banks work to define all customers who aim to buy the dollar in order to carry out import operations and identify the correspondent banks to it and the customers to benefit from the result.”

And he added, “And Al-Yasiri said, “Some merchants now fear tax and customs procedures, fees and information, and many merchants who actually buy dollars in return for real goods are more than 90 percent of the dollar that comes out of the central bank, instead of real goods.”

And he stressed, “The exchange rates will return to 1470 soon, and the rates that it reached were not critical,” noting that “Iraq Besieged by countries that have a decline in the price of their currency and are worried economically, and this challenge casts a shadow on them Iraq And Al- Yasiri went on to say, “Returning the exchange rate of the dollar to what it was in the past (120) thousand dinars for every 100 dollars leads to confusion in the economy and the market.  link

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Source: Dinar Recaps


Tishwash:
Deputy: The dollar file is ambiguous and marred by corruption

A member of the House of Representatives, Amir Al-Mamouri, confirmed, on Monday, that the currency auction has become a front for draining the dollar and making profits from corrupt money, pointing out that the file of resolving the dollar crisis has not made any progress. 

Al-Mamouri said in a statement to Al-Maalouma, that “the exchange rate in the local markets is 160,000 for every 100 dollars, without finding any real solutions,” noting that “there are corruption deals in the exchange rate file.” 

He added, “The House of Representatives is serious about finding out the reasons for the high exchange rate and finding solutions to save the poor classes,” noting that “there are more than 75 government and private banks that we do not know the nature of their work.”

Al-Mamouri asked, “Do the banks in Iraq perform a service, or is their presence only money laundering and smuggling them out of the country,” stressing that “the dollar file requires the government to take a serious stand and be transparent with the public.”

The independent MP, Amer Abdel-Jabbar, warned earlier of the crisis of the continued rise of the dollar on the poor segments, expressing his surprise at the failure to include a paragraph discussing the rise in the exchange rate of the dollar on the agenda of the session last Saturday.  link

Source: Dinar Recaps

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