TNT
Tishwash:
“ExxonMobil” is close to leaving Iraq.. Learn about the details of the upcoming deal
ExxonMobil is close to exiting the West Qurna 1 field.
And the “Iraq Oil” website stated in a report translated by “Al-Iqtisad News”, that the company “is negotiating a two-part deal to sell its 32.7% stake in the West Qurna 1 oil field to the Malaysian Pertamina Company and the Basra Oil Company owned by the Iraqi state.”
The sale, if it takes place, according to the site, will lead to “resolving the dispute that Exxon Mobil presented to international arbitration. On the other hand, it will strengthen China’s foothold in the Iraqi oil sector, as the Chinese PetroChina Company, which currently owns a non-operating share of 32.7 percent, will take over. % in the project, the role of the operator.
According to the site, two Iraqi officials in the oil sector confirmed the outlines of this proposed deal, “whereby Pertamina will obtain an additional 10% stake in the project, raising its total stake to 20%, while the Basra Oil Company will buy the remaining 22.7% stake from ExxonMobil.” link
CandyKisses:
Close to Sudanese: Those who obstruct the contract of the German company Siemens
Baghdad – Iraq Today:
A member of the House of Representatives, Mohammed Saadoun Al-Sudani, revealed the reasons for America’s move towards addressing the electric power crisis in Iraq after 20 years of its exacerbation, while Washington’s assistance to Baghdad was considered a “new obstruction.”
Al-Sudani said in a press interview that “America’s progress to help Iraq in the field of electric power at this particular time is part of the obstacles to address the crisis by contracting with the German company Siemens.”
Al-Sudani asked: “Where has America been since 2003 until now in addressing the electricity crisis?” He pointed out that “the current US move comes as a result of the seriousness of the current government to contract with Siemens and return electric power to normal.”
The member of the House of Representatives stressed that “America’s new position is not serious and unclear,” pointing out that “during the previous governments that tried to contract with Siemens, Washington is well aware that the heads of the Iraqi government are not serious and their movements are just (ink on paper);
Tishwash:
Member of Parliamentary Finance: The 2023 budget will exceed 200 trillion dinars
Economy News – Baghdad
A member of the Parliamentary Finance Committee, Representative Nermin Maarouf, confirmed, on Friday, that the size of the 2023 budget amount exceeds 200 trillion dinars.
Maarouf said, “The recent changes and the reduction in dollar prices disrupted or delayed sending the budget from the government to parliament,” indicating that “the price of the dollar in the budget has not been determined yet after the government approved reducing its price and circulation to 1,300 dinars per dollar.”
And she added, “Changing the price of the dollar and its official approval will determine the budget deficit and its amount, if any, and we are awaiting the official approval of the dollar price in the next budget.”
“The volume of the 2023 budget exceeds 200 trillion dinars, and it is awaiting the arrival of the budget to parliament and discussing its doors in detail,” Maarouf said in an interview with “Shafaq News” agency, followed by “Al-Iqtisad News”. link
The Iraqi delegation in Washington: Government measures aim to reform the banking system
The Iraqi delegation, headed by Foreign Minister Fouad Hussein, who is currently in the US capital, Washington, confirmed today, Friday, that the government’s measures aim to reform the banking system.
Foreign Ministry spokesman Ahmed Al-Sahhaf said in a statement, “Deputy Prime Minister and Foreign Minister Fuad Hussein and his accompanying delegation met with US Deputy Secretary of the Treasury Wali Adimo, Assistant Secretary of the Treasury Elizabeth and senior ministry officials concerned with Iraq and the Middle East,” pointing out that “during The meeting discussed issues of common interest and bilateral cooperation between the two countries.
The Iraqi delegation indicated, according to the statement, that “the measures of the government and the central bank in developing and reforming monetary policy, and the government’s priority in promoting investment and trade, diversifying energy sources, and facing current challenges at the monetary and banking levels, and what these measures reflect in terms of reforming the banking system by combating corruption and money laundering, and the importance of The continuation of technical meetings between specialists in this aspect. link
Source: Dinar Recaps
Tishwash:
Reducing the exchange rate.. Will Iraq move to the “punished currencies” zone? – urgent
The economist, Salam Sumaisem, shed light on an issue related to the move to reduce the exchange rate of the dollar, noting that it “contradicts” with Iraq’s post-2003 policy, which goes towards a system of “freedom of exchange” rather than restricting it, wondering whether the step comes within the context of the “divorce of the dollar.” And move to the penalized currency area.
Sumaisem said in an article published by the Public Policy-Making Forum-London, which Baghdad Today viewed, that “reducing the exchange rate is not a government decision, but rather a product of economic policies and reform measures that cause an adjustment in the exchange rate,” noting that “this reduction will lead to some On a dollar at a reduced price and selling it at a higher price to people, and the difference between the two prices will be high, which leads to new inflation that hits the economy.
She pointed out that “Iraq after 2003 abandoned the policy of restricting the exchange rate to a system of freedom of exchange,” while wondering whether “Iraq had retreated and decided to return to the previous system, or is it a step to divorce the dollar and move to the area of penalized currencies?”
And if the second goal is achieved, Sumaisem shows that there are two facts: “The first is that no oil country is allowed to value its oil in anything other than the dollar, and whoever dares to bear the consequences, like Venezuela, Iran, and Iraq before 2003.”
The second is that “the international monetary system for the world after 1945 and until now is a system that relies on the dollar, as the Bretton Woods agreement aims to create a kind of stability in monetary policies and exchange rates between countries of the world by laying the infrastructure for the movement of capital between countries as a basis for facilitating trade.” Global,” indicating that “Iraq does not need economic suicide, but rather a decision that realizes the economic importance of Iraq and its great role.” link
The Governor of the Central Bank of Iraq meets the Executive Director of the International Monetary Fund
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, met with the Executive Director of the International Monetary Fund, Dr. Mahmoud Mohieldin, on the sidelines of his visit to Washington, DC.
During the meeting, aspects of bilateral cooperation were discussed to serve the interest of the Iraqi economy and monetary policy, as well as ways to develop the Iraqi banking sector.
For his part, His Excellency the Governor said: The Central Bank of Iraq has taken a package of measures to reform the Iraqi banking sector and develop its work in line with international standards, which will reflect positively on Iraq’s international trade and the national economy.
He added: The Central Bank continues its measures in combating money laundering and terrorist financing, by taking a set of decisions that support these measures, which reflected positively on Iraq’s ratings in this field.
In turn, the Executive Director of the International Monetary Fund, Dr. Mahmoud Mohieldin said that the International Monetary Fund continues to provide technical support to the Central Bank of Iraq in various fields.
It is noteworthy that His Excellency the Governor of the Central Bank, is currently visiting Washington, as part of an official government delegation, in order to start official talks with the US Federal Bank.
Central Bank of Iraq
Media Office
10/2/2023 link
Source: Dinar Recaps
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