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Thurs. AM-PM TNT News Articles 1-19-23

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TNT

Tishwash:
The Iraqi dinar may also fall victim after the collapse of the Toman and the lira in Syria, Turkey, Iran and Lebanon

Despite the stability of the Iraqi dinar in the official markets, the news reveals a violent decline of the Iraqi dinar against the dollar in the parallel markets.

According to the “Investing.com” financial platform, the Iraqi dinar is falling against the dollar, despite the fall of the US dollar index below the 102 levels, following the release of US inflation data and its significant slowdown.

The price of the dollar in Iraq against the local currency reached 1610 dinars per 100 US dollars, while it settled in the official market at 1450 dinars per 100 dollars. Thus, the dollar gap between the official and parallel rate has now returned to more than 11%.

The decline of the local currency in the parallel market led the Iraqis to rush towards gold as a safe haven to preserve the value of their money, and gold continues to rise inside Iraq, and its prices have risen 10% compared to the last quarter of last year, and an ounce of 21-carat gold, the most prevalent in Iraq, is 78,530 dinars.    link

After his refusal to attend.. Parliamentary Integrity is moving legally against the Governor of the Central Bank

The Parliamentary Integrity Committee announced, on Thursday, its intention to take legal measures against the governor of the Central Bank after he refused to attend hosting it to follow up on the issue of the dollar’s exchange rate hike. 

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Committee member Hadi al-Salami said in an interview seen by /the information/, that “the committee, and after the continuous follow-ups of the rise in the exchange rate of the US dollar against the Iraqi dinar, which led to great resentment because of its great impact on the dealings of merchants and local markets and its direct impact on the daily livelihood of citizens, Yesterday, Wednesday, a hosting invitation was sent to the governor of the Central Bank to come to the committee and discuss the issue of restoring the exchange rate to its previous one, but he refused to attend. 

Al-Salami added, “The committee is determined to take legal measures against him, especially since he refused the committee’s request to send the details of the daily publication to the banks after sending him an official letter,” stressing that “the Integrity Committee has the right to know the fate of the foreign currency in the country, and to find out what is currently going on, is it Monopoly or smuggling of hard currency.

He pointed out that “the committee has a plan and continuous follow-ups regarding the rise in dollar prices, because of its direct and significant impact on the lives of citizens and the sustenance of their families.”   link

CandyKisses:
Al-Sudani chairs a meeting on the “final details” of the general budget

Iraqi Prime Minister Mohammed Shiaa Al-Sudani chaired, on Thursday morning, a meeting on the “final details” of the country’s draft general budget for the current year.

“Prime Minister Mohammed Shiaa Al-Sudani chairs a special meeting to discuss the final details of the draft federal budget law 2023,” his media office said in a brief statement received by Shafaq News Agency.

In the middle of this month, Iraqi President Abdullatif Jamal Rashid informed Prime Minister Mohammed Shiaa Al-Sudani of his intention to approve the draft federal budget law of 2023, as he announced her arrival at the presidential office.

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Al-Sudani announced, on (3/1/2022), the increase in the amount of salaries in the general budget for the year 2023, but that the draft law needs a lot of time.

Al-Sudani said in a press conference that the amount of salaries in the budget increased from 41 to 62 trillion dinars, explaining that the budget needs a lot of time.

The Parliamentary Finance Committee indicates that the completion rate of the draft budget 2023 amounted to more than 95%, while pointing out that “last touches” are delaying its discussion in the corridors of the Council of Ministers.

Tishwash:
The President of the Republic: Iraq is going through a period of advancement and development, and there are strategic and development projects

Today, Thursday, the President of the Republic, Abdul Latif Jamal Rashid, affirmed that Iraq is going through a period of advancement and development, indicating that there are strategic and development projects.

The Presidency of the Republic said in a statement, “The President of the Republic, Abd al-Latif Jamal Rashid, received, at his residence in Davos, the Prime Minister of Tunisia, Naglaa Boudin, on the sidelines of the World Economic Forum.” 

And she added, “During the meeting, they discussed developing cooperation and developing tourism activity between the two countries and benefiting from important tourism facilities in Iraq and Tunisia, and political developments on the regional and international arenas were also discussed.”

And the President of the Republic stated that “Iraq is going through a period of advancement and development, and there are strategic and development projects for the purpose of improving the service, health and educational aspects for all Iraqis.”

The President of the Republic affirmed that “Iraq’s firm positions regarding all regional and international challenges,” pointing to “the need to support international efforts to establish stability in the region, and to confront the economic and environmental challenges facing the world.”

In turn, the Tunisian Prime Minister affirmed “her country’s desire to develop bilateral relations and expand cooperation between the two countries to serve common interests     link

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Source: Dinar Recaps


Shybaby:
IMF: Philippines performing exceptionally well

DAVOS – The chief of the International Monetary Fund (IMF) has praised the Philippines for being an “exceptionally well-performing country” despite its challenges and has expressed willingness to help the country attain sustainable growth, Malacañang said yesterday.

President Marcos met with IMF Managing Director Kristalina Georgieva on the sidelines of the World Economic Forum (WEF) in this Swiss city last Tuesday and discussed issues affecting the world economy.

Presidential Communications Secretary Cheloy Garafil said Georgieva had commended Marcos for his leadership as the country faced “more immune and more complex challenges.”

“We found the Philippines to be an exceptionally well-performing country… what you have done in the last year of turbulence to sustain growth… is quite commendable,” Garafil quoted Georgieva as saying.

Georgieva said the IMF is ready to help its member-countries, including the Philippines, achieve sustainable growth and push for economic policies that would benefit more Filipinos.

“We have been really interested to engage more deeply with our members to recognize the traditional challenges… they are still there,” the IMF chief said.

Marcos said there is a need to “go back to the basics” as the Philippines is still addressing a number of challenges.

He also reiterated his resolve to step up the government’s digitalization initiatives, saying they are important in making the bureaucracy more efficient and effective.

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“I hold a lot of hope and confidence in the new technologies… if you are adept with new technologies, you are already at (the) forefront… so that’s basically how we are approaching the problem,” said Marcos.

The IMF is a special agency of the United Nations that provides financial assistance and debt service relief to member-countries. It has $28 billion in outstanding loans to 74 nations. The Philippines joined the agency on Dec. 27, 1945.

Source: Dinar Recaps

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