Wed. AM TNT Iraq News Articles 4-5-23



Iraq maintains its position in the global gold market 4/5

The World Gold Council announced, on Wednesday, that global central banks had purchased 52 tons of gold, while noting that Iraq maintained its rank 30 globally.

In its latest schedule for the month of April 2023, which was seen by Shafaq News agency, the Council stated that, “during February, global central banks added 52 net tons of gold to the global international reserves, and this increase is the eleventh in a row.”

He added, “The Chinese Central Bank bought 25 tons of gold, the Turkish Central Bank bought 9 tons, Uzbekistan 8 tons, Singapore 7 tons, and India 3 tons,” noting that “the Central Bank of Kazakhstan was the only one who made the sale, at 3 tons.” .

The World Gold Council stated that Iraq maintained its rank 30 globally out of 100 countries listed in the table with the largest gold reserves, after it rose ten ranks in July 2022, by purchasing 33.9 tons of gold, bringing its possession to 130.3 tons, which represents 8.2% of the rest. other precautions.

Globally, according to the table, the United States of America still leads the rest of the countries with the largest possession of gold in the world at 8,133 thousand tons, followed by Germany with 3,355 thousand tons, then Italy with 2,451 thousand tons, while El Salvador ranked 100th with 1.4 tons, preceded by Suriname with 1.5 tons.

On June 27, 2022, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.


It is noteworthy that the World Gold Council is based in the United Kingdom and has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest gold mining companies in the world.  ink

Al-Sudani: Iraq is on the verge of a (reconstruction revolution)

Prime Minister Muhammad Shia’ al-Sudani affirmed today, Wednesday, that Iraq is on the verge of a “reconstruction revolution and the announcement of projects.”

Al-Sudani’s office said, in a statement received by Mawazine News, that “Prime Minister Muhammad Shia’a Al-Sudani launched, today, Wednesday, the executive works in the first three projects concerned with relieving traffic congestion in Baghdad.”

Al-Sudani announced, “The implementation of the bridge linking Palestine Street and Al-Dakhil Street, east of Baghdad, has begun. At the same time, work was launched on two other projects: the bridge linking the Jamila area and the extension of Al-Jihad Street – Bab Al-Mu’azzam via the Army Canal, and the bridge linking the intersection between Al-Quds Street and Al-Quds Street.” 77, and its approaches and ancillary works.

Al-Sudani confirmed, in an interview with a number of young engineers, according to the statement, that
The Prime Minister considered, “The launch of these three projects is an opportunity to meet graduate engineers who did not obtain a job opportunity, with the aim of helping them find alternatives that depend on private sector opportunities.”

Al-Sudani affirmed, “his support for young innovators, especially that Iraq is on the verge of a reconstruction revolution and the announcement of projects,” and directed that “ten engineers be supported in this project to establish a company, and all procedures related to the establishment of this company will be completed.”  link


Iraq and Saudi Arabia are discussing strengthening investment cooperation and overcoming work “obstacles”.

The Minister of Finance, Taif Sami, discussed today, Wednesday, with a delegation from the Saudi Ministry of Investment, enhancing opportunities for investment cooperation between the two countries, encouraging the work of Saudi companies in Iraq and overcoming the obstacles they face.

The ministry said in a statement received by Shafaq News agency, “The Minister of Finance, Taif Sami Muhammad, received today, Wednesday, the delegation of the Ministry of Investment in the Kingdom of Saudi Arabia, headed by Mishaal bin Khaled Al-Hathal, and the two sides reviewed the most important economic issues and files of common interest, and ways to consolidate bilateral cooperation between Iraq.” And the Kingdom, and focus on building broader partnerships to promote sustainable development in the field of investment and business.

The statement added, “The meeting dealt with mechanisms to encourage Saudi companies to work in Iraq and overcome obstacles that they may face, and direct communication between the concerned ministries of the two countries with the aim of attracting more investments and strengthening relations between businessmen from both sides.”  link

Source: Dinar Recaps


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