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Iraq Economic News and Points to Ponder Saturday Afternoon  9-16-23

Tlm724 Administrator Bondlady’s Corner

With The Stock Market Closed…The Dollar Rises In Baghdad And Erbil

Economy  Saturday, September 16, 2023 Baghdad/National News Center  Dollar prices rose today, Saturday, in Baghdad markets, and decreased in Erbil with the closure.

The National News Center correspondent said, “Dollar prices rose with the closure of the Al-Kifah and Al-Harithiya stock exchanges to record 156,200 dinars against 100 dollars, while dollar prices recorded this morning 155,800 dinars against 100 dollars.”

He added, “Selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 156,500 Iraqi dinars for 100 dollars, while the purchase price reached 155,000 dinars for 100 dollars.”

As for Erbil, the dollar recorded an increase, as the selling price reached 156,500 dinars for every 100 dollars, and the purchasing price was 155,700 dinars for every 100 dollars.

Parliamentary Finance Hosts The Ministers Of Oil And Natural Resources

Noah:  The Finance Committee decided to host the Deputy Prime Minister and Minister of Oil, Hayan Abdul Ghani, and the Minister of Natural Resources and Agency in the Kurdistan Region, Kamal Muhammad Salih, to discuss the region’s oil exports and deliver the allocated quantity to the federal government in accordance with the budget law, in addition to resuming exports from the pipeline to the port. Jihan Al-Turki.

Committee member Muhammad Nouri said in a press statement that the Parliamentary Finance Committee decided to host Abdul-Ghani and Saleh in the coming days, to review the most important private oil matters in the Kurdistan Region, and to reach an understanding with the region regarding oil exports and revenues and handing them over to the federal government.

He added that during the hosting, the volume of oil revenues for the region and their delivery to Baghdad will be known, and the real numbers regarding oil exports and the financial revenues generated from them will be determined.

He continued by saying that the Parliamentary Finance Committee will discuss during the hosting the issue of resuming the resumption of oil exports via the Turkish Ceyhan line, and where the dialogues and understandings with the Turkish side have reached in this regard.

Article 13 of the budget obligates the Kurdistan Region to deliver at least 400,000 barrels of crude oil on a daily basis to SOMO for export through the port of Ceyhan, or to use it locally if it is not exported.

At The Request Of Iraq…The Security Council Decides To End The Mandate Of “UNITAD”

NOAA:  The UN Security Council decided to end the mandate of the investigation team to enhance accountability for crimes committed by ISIS, “UNITAD,” in September 2024.

Yesterday evening, Friday, the Council voted unanimously to end the mandate of UNITAD after a year, at the request of the Iraqi government.

The resolution, which was prepared with British support, refers to an Iraqi request from UN investigators to hand over the documents they collected about ISIS crimes to Iraqi institutions with the aim of holding members of the organization accountable and the people who provided it with financial support.

The investigation team was formed to enhance accountability for crimes committed by ISIS in 2017, in accordance with UN Security Council Resolution 2379 and at the request of the Iraqi government.

Last June, Special Adviser and Head of the Investigative Team, Christian Reicher, told the UN Security Council that investigators were gathering evidence of ISIS “developing and using chemical weapons,” in addition to strengthening their evidence of sexual and gender-based violence and the organization’s crimes against Sunni children. Shiites, Yazidis and Christians.

The British delegate to the United Nations, Barbara Woodward, indicated in her speech before the Security Council that the team “was able during the last period to help Iraq open mass graves, facilitate the return of the remains to their families, and work closely with Iraqi judges and investigators, specifically in the field of collecting evidence.” “.

She stated, “The team provided the opportunity for survivors, including female survivors, of sexual and gender-based violence to give their testimonies safely and with their rights fully respected.”

She noted that the team was able to provide “psychosocial treatment in partnership with the Iraqi Ministry of Health, which had a real impact on the survivors.”

The resolution adopted by the Security Council calls on the Secretary-General of the United Nations, António Guterres, to submit a report by next January, including his recommendations on demanding that Iraq hand over the evidence collected by the UNITAD team.

The Security Council also called on the team to determine, with the approval of the Iraqi government, ways to share evidence with other countries, and to inform Baghdad before handing over any evidence to a third country.

The British delegate pointed out that her country is working with the Iraqi government to “continue the team approach in Iraq and the whole world.”

Trade: Iraq Was Not Affected By The Global Crisis Regarding Rising Food Prices

Saturday 16, September 2023 11:31 | Economical Number of readings: 363

Baghdad / NINA / The Ministry of Commerce confirmed, today, Saturday, that Iraq was not affected by the global crisis, with regard to the rise in food prices, thanks to the regular distribution of the food basket on time.

Ministry of Commerce spokesman, Muthanna Jabbar Al-Fariji, told the official agency, “Iraq was not affected by the global crisis, with regard to the rise in food prices, thanks to the regular distribution of the food basket on time.”

Al-Fariji added: “With regard to the global crisis that the world has gone through, which is related to the rise in food prices, as well as the wheat crisis and the problems of implementing Ukrainian wheat contracts to the Turkish side, in addition to the intervention of the Russian authorities in preventing wheat from reaching the Turkish side, and the great confusion it caused in The movement of global market prices for foodstuffs, Iraq did not feel the magnitude of the crisis, thanks to the regular distribution of food baskets to Iraqi families.”

He continued: “The basket program is stable and has made a significant contribution to stabilizing prices in the local food market, and has helped heads of families reduce the burden on them in terms of purchasing power,” pointing out that “the food basket program, over two years, has completed 19 baskets, of which 11 will be in the year 2022.” And 8 baskets during the current year until the present day.”

He stressed that “work is continuing, and the Ministry of Commerce’s warehouses contain good quantities of storage, in addition to the strategic storage, in addition to the arrival of all the basket materials to the agents. The citizens received all the basket items at once, which created stability and satisfaction among the citizens.”

He explained, “This stability was evident in the questionnaires conducted by the Ministry in all governorates, as it was found that most of those whose opinions were taken in the questionnaire were satisfied with the quantities of basket materials received.”

Al-Fariji explained, “The Ministry hopes that the government’s support will continue, and that the basket program will continue to be supportive and supportive of Iraqis, those with limited income, and those below the poverty line.”/End


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Points to Ponder on Gratitude:

You must give some time to your fellow men. Even if it’s a little thing, do something for others -The great art of giving consists in this: the gift should cost very little and yet be greatly coveted, so that it may be the more highly appreciated.  Baltasar Gracian

Gratitude is born in hearts that take time to count up past mercies.  Charles E. Jefferson (1860 – 1937)

Gratitude is not only the greatest of virtues, but the parent of all others.   Cicero (106 BC – 43 BC), ‘Pro Plancio,’ 54 B.C

The excellence of a gift lies in its appropriateness rather than in its value.  Charles Dudley Warner (1829 – 1900), ‘Eleventh Study,’ Backlog Studies, 1873

Gratitude is merely the secret hope of further favors.   Francois de La Rochefoucauld (1613 – 1680)

A compliment is a gift, not to be thrown away carelessly, unless you want to hurt the giver. Eleanor Hamilton

Gratitude is the most exquisite form of courtesy.  Jacques Maritain (1882 – 1973), Reflections on America, 1958