Iraq adopts the “yuan” in its foreign trade with China
Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency, including reliance on the yuan currency to organize financing foreign trade from China.
And the media office of the Central Bank stated in a statement received by Al-Maalouma Agency, that, “in addition to what was announced in the first package of facilities provided by the Central Bank to achieve stability in exchange rates.”
He added, “The second package includes organizing the financing of foreign trade from China directly and in the Chinese yuan currency through two options: a) The first option: strengthening the balances of Iraqi banks that have accounts with Chinese banks in the Chinese yuan currency.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the final beneficiary in the Chinese yuan currency through our accounts with the Bank (JP Morgan) and the Development Bank in Singapore. link
Iraq signs oil and gas deals with UAE’s Crescent Petroleum, Chinese firms
BAGHDAD, Feb 21 (Reuters) – Iraq signed deals with UAE firm Crescent Petroleum and two Chinese companies on Tuesday for the development of six oil and gas fields as it seeks to produce much needed natural gas for power stations and cut imports burdening the country’s budget.
United Arab Emirates-based Crescent Petroleum signed three 20-year contracts to develop oil and natural gas fields in Iraq’s Basra and Diyala provinces in northeastern Baghdad.
The Crescent Petroleum contracts include the Gilabat-Qumar and Khashim fields in Diyala, which are expected to begin producing 250 million standard cubic feet per day of natural gas within 18 months, the company said.
Crescent Petroleum also plans to explore and develop Khider al-Mai, a third block in Basra province for oil and gas.
China’s Geo-Jade also signed two contracts for exploration and development rights to Iraq’s Huwaiza oilfield in the south and Naft Khana northeast of Baghdad, both near the Iranian border. link
The Economic Committee hosts the Governor of the Central Bank to discuss the exchange rates of the dollar
The Parliamentary Economy, Industry and Investment Committee hosted, today, Wednesday, the Governor of the Central Bank, Ali Al-Alaq, to discuss the exchange rates of the dollar.
ur correspondent said, “The Parliamentary Economy, Industry and Investment Committee hosted the governor of the Central Bank On the relationship to discuss the exchange rate of the dollar and the stability of the market.”
He added, “The committee also discussed the results of the Iraqi delegation’s visit to Washington In addition to a number of other files. link
Popular discontent with the instability of the exchange rate, and fingers pointing towards speculators
The greed of merchants and speculators and the refusal of money changers to sell dollars to citizens at the official rates are the most prominent reasons behind the continued rise in the dollar exchange rates by more than twenty points.
The scarcity of hard currency increased the suffering of citizens in obtaining it, prompting speculators to exploit the crisis, even with the existence of government decisions aimed at reducing the exchange rate in the markets. Money exchange owners buy dollars at the official rate, but they refuse to sell them to citizens under the pretext of lack of cash liquidity, which sparked anger and resentment in the street.
Economists called on the government to impose strict measures, arrest violators of speculators and money changers, and open competitive official sales outlets, in addition to canceling or facilitating the procedures for selling currency to travelers and seriously monitoring its work. ink
The Kurdistan Regional Government launches the work of the first e-visa portal
Twilight News / The President of the Kurdistan Regional Government, Masrour Barzani, inaugurated on Wednesday the work of the first portal for issuing the e-visa, which is part of the government’s action program in the electronic transformation of public services and the digitization of government services, which is scheduled to be completed in late 2025.
On this occasion, the Prime Minister said in a speech: The technology and data of these services will facilitate the provision of more digital services, paving the way for the renovation of our airports and border crossings, in addition to contributing to opening new trade horizons with our international partners.
The Prime Minister pointed out that the e-Visa is one of several other services for this ministerial formation, and aims to improve public services and strengthen business in Kurdistan, indicating that some of these services will be announced in the coming months.
The Prime Minister also praised the Ministry of Interior and the Information Technology Department for placing digital services at the center of their priorities for their work, as well as their commitment to the e-transformation program.
The new portal (visit.gov.krd) allows visitors and investors to apply for visas online, which will help boost tourism and foreign investment in the Kurdistan Region.
In addition to the e-visa portal, several other systems have been developed to improve border security.
Source: Dinar Recaps
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