Iraqi News

  In Iraqi News

Iraqi News Highlights and Points to Ponder Sunday AM 12-10-23

Why Does The Dollar Maintain Its Parallel Price Despite The “Million Shipments” Arriving In Iraq?

Economy |  Baghdad today – Baghdad  Today, Saturday (December 9, 2023), the Parliamentary Finance Committee commented on the reason why the dollar exchange rate remained high in the parallel market, despite the arrival of shipments of the dollar to Iraq.

Committee member Jamal Kujar told Baghdad Today, “The reason the dollar continues to rise in the parallel market is the continuation of black transfers through which money is paid for a lot of imports, especially trade with Iran and Syria.”

Cougar stated, “The shipments of dollars that have arrived in Iraq and will arrive are for the purpose of providing this currency to pay for commercial work that is within the platform and not outside it, and for this parallel market, the dollar will remain high in it due to black transfers, for which the government has not developed any real solutions so far.” .

The Central Bank of Iraq had allowed licensed banks to import dollars from outside the country to cover legitimate requests for dollars.

On the other hand, Iraq’s annual imports from Iran amount to approximately 10 billion dollars, according to statistical data, while all of these imports are financed from the parallel market dollar due to the inability to transfer the dollar to Iran by the Central Bank of Iraq.  LINK

Baghdad Dollar Stabilizes High.. Morning List Of Prices

Economy |Baghdad today – Baghdad  Today, Sunday (December 10, 2023), the prices of the dollar against the dinar recorded stability and increase in local markets in the capital, Baghdad.

The “Baghdad Today” correspondent said, “Selling prices in money exchange shops in local markets in Baghdad amounted to 158,500 dinars for 100 dollars.”

He added, “While the purchase price reached 156,500 dinars for 100 dollars.”   LINK

Parliamentary Finance Calls For An Investigation After A Representative Spoke About Monetary Policy

Policy  2023-12-09 | Source:  Alsumaria News   5,930 views  On Saturday, the Parliamentary Finance Committee called on the Presidency of the House of Representatives to form an investigative committee to determine the authenticity and source of statements made by a representative to the “Openly” program broadcast by Al-Sumaria satellite channel, regarding monetary policy in the country.

The committee said in a statement, “We followed with great astonishment and disapproval the irresponsible statements made by Representative Muhammad Nouri  during his hosting on a satellite channel to talk about monetary policy in the country and the actions of the Central Bank of Iraq.”

She added, “While we categorically deny the allegations made by Mr. Representative, as they lack credibility, accuracy, and objectivity, and indicate his lack of familiarity with the procedures and duties of the committee, we express our strong rejection of these allegations because they constitute a great abuse of the tasks and duties of the Parliamentary Finance Committee in particular and the legislative authority in general.”

The committee’s statement continued, “We call on the Presidency of the House of Representatives to form an investigative committee to determine the veracity and source of these dangerous statements, and to take deterrent legal measures against anyone who intentionally harms the reputation of the Iraqi state and its constitutional institutions.”

The committee confirmed in its statement that “everything that Mr. Representative said was untrue. Rather, he had to verify the information by communicating with his fellow representatives who regularly attend meetings, before talking about sensitive files, despite the fact that he did not have any information about them due to his constant absence from committee meetings.”

The committee stressed that “the monetary policy of the Central Bank, especially with regard to printing currency, is subject to monetary standards and foundations, and in line with the stability of the economic situation and the level of inflation,” stressing that “our Finance Committee has a clear work program for oversight of the executive authority, which will be completed at the beginning of the semester.” “We hope that Representative Al-Nouri will commit to performing his legislative and oversight duties and tasks.”

The member of the Parliamentary Finance Committee, Muhammad Al-Nouri, considered, the day before yesterday, Thursday, in his speech to the program (Openly) broadcast by Al-Sumaria satellite channel, that most of the decisions of the Central Bank are political and do not have an economic content, while he pointed out that parliamentary finance is absent and partisan.   LINK

Tension At The Climate Conference.. OPEC Faces 80 Countries That Want To “End The Oil Era” With An International Agreement

Economy  2023-12-09 | 833 views  Alsumaria News-International   Disagreements have erupted between countries over a potential agreement to phase out fossil fuels at the United Nations Framework Summit on Climate Change in Dubai, jeopardizing attempts to make the first-ever commitment to eventually end the use of oil and gas in 30 years of warming talks. Thermal.

Saudi Arabia and Russia were among several countries that insisted that theDubaiThe conference focus only on climate reducing pollution, and not on targeting the fossil fuels that cause it, according to observers at the negotiations, as reported by Reuters.

On the other hand, at least 80 countries, including the United States, the European Union and many poor and climate-vulnerable countries, are demanding that the COP28 agreement explicitly call for an eventual end to the use of fossil fuels.

He called Sultan Al Jaber , president  Conference of the Parties 28, countries late on Saturday to accelerate their work to reach a final agreement, saying that “there are still more areas of disagreement than agreement.”

“The window is closing to fill the gaps,” he told the summit.

The Secretary General of OPEC said Haitham Al-Ghais Earlier in remarks read to summit delegates by one of the officials: “We need realistic approaches to tackling emissions. An approach that enables economic growth, helps eradicate poverty and increases resilience at the same time.”

Earlier this week, the group of oil producers sent a letter urging its members and allies to reject any mention of fossil fuels in the final summit agreement, warning that “unwarranted and disproportionate pressure against fossil fuels may reach a tipping point.”

This was the first time that the OPEC secretariat intervened in the UN climate talks with such a message, according to him.  Alden Meyer From the E3G Climate Change Research Centre. “It indicates a whiff of panic,” he said.

Commissioner criticized  European Union  For climate and Hoekstra cried The letter described her as “out of control” with climate efforts.

“From the perspective of many, including myself, this was seen as out of the ordinary, unhelpful, and inconsistent with the world’s position regarding the very dire situation of our climate,” he said.

And Kingdom of Saudi Arabia It is the first producer in OPEC and the de facto leader of the organizationRussiaA member of the so-called OPEC+ group.

By insisting on focusing on emissions rather than fossil fuels, the two countries appear to be banking on the promise of expensive carbon capture technology, which the UN climate science panel says cannot replace reducing fossil fuel use around the world.

Other countries, inclIndiaAndChina, explicitly phasing out fossil fuels in Conference of the Parties  [/url] 28th, but supported a popular call to promote renewable energy.

China’s chief climate envoy, Xie Zhenhui, described this year’s climate summit as the most difficult in his career.

“I have been involved in these climate negotiations for 16 years,” he told reporters. “The most difficult meeting is this year. There are a lot of issues to be settled.”

He said there was little chance of calling the summit a success if countries could not agree on language on the future of fossil fuels.

The Indian Minister of Environment demanded Bhupinder Yadav  “Fairness and justice” in any agreement, considering that rich countries must lead global climate action.

Wider diplomatic complaints were also aired on the platform on Saturday, obscuring the focus on global warming.   LINK

Provoking Points to Ponder on Giving:

One must be poor to know the luxury of giving.  George Eliot (1819 – 1880)

Give what you have. To someone, it may be better than you dare to think. Henry Wadsworth Longfellow (1807 – 1882)

Make all you can, save all you can, give all you can. John Wesley (1703 – 1791)

Generosity is giving more than you can, and pride is taking less than you need. Kahlil Gibran (1883 – 1931)

Do give books – religious or otherwise – for Christmas. They’re never fattening, seldom sinful, and permanently personal. Lenore Hershey

You try to give away what you want yourself. Lois McMaster Bujold, “Memory”, 1996

If we have the opportunity to be generous with our hearts, ourselves, we have no idea of the depth and breadth of love’s reach. Margaret Cho, weblog, 03-09-04

If you want to see what children can do, you must stop giving them things. Norman Douglas

What a child doesn’t receive he can seldom later give. P. D. James, Time to Be in Earnest