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Iraqi News Highlights and Points to Ponder Tuesday AM 1-9-24

There Is No Stability In The Exchange Rates Of The Dollar Against The Dinar

Iraq  01/09/2024   Baghdad: Haider Al-Jaber  Measures to strengthen monetary sovereignty in the country by reducing dealing with the dollar and relying on the Iraqi dinar in financial transactions continue to confuse daily life in local markets, as they witness a large difference between the two prices.

Formal and parallel.

A member of the Parliamentary Economics Committee, Soran Omar, accused influential parties of being behind the manipulation of the exchange rate.

He explained that the government did not control the exchange rate radically, and all measures to reduce it have limited impact, in light of the continued smuggling and money laundering through some banks and money exchangers, noting that the Central Bank’s measures are continuing, but the exchange rate is still high on the black market, and the difference sometimes reaches 25 thousand dinars

About the official price.

Omar warned that corrupt people are benefiting from the rise in the exchange rate, and some officials are behind the manipulation of the black market, calling for taking radical measures to set the price, as it affects the economy negatively, which is a very dangerous matter that portends undesirable consequences.

He pointed out that the responsible authorities accuse merchants of being behind the increase in exchange rates due to their reluctance to enter the Central Bank’s platform to buy dollars, in addition to complaints from commercial circles about obstacles and restrictions imposed by the Central Bank that complicate the issue of dealing with the platform.

On the same level, economic expert Abdul Hassan Al-Zayadi called for encouraging agriculture, industry and the private sector to get rid of the dominance of manipulation of the exchange rate, indicating the existence of a conflict between the government and speculators who have been manipulating the market for 20 years.

Al-Ziyadi explained, in an interview with Al-Sabah, that the dollar trade is an absurd trade established by the state, and it would have been better to develop agriculture, industry and local trade, stressing that this caused a huge gap, while work is being done.

To automate cash handling.

Al-Ziyadi pointed out that the government has adopted the issue and stability will return to the currency market, as the economy has been exhausted and trade has been paralyzed. He expects that the state’s measures will lead to a positive result within a year at most.

He expressed his hope that the exchange rate would stabilize at 145 dinars per dollar, criticizing the lack of support for the private sector.

He added that although a full year has passed since the launch of the international financial transfer system “SWIFT” by the Central Bank, and the strengthening of the exchange rate file with a package of measures described as reform, this did not help the dollar exchange rates stabilize in Iraq.

Edited by: Adhraa Juma   https://alsabaah.iq/90119-.html

Amnesty, Drugs, And The 2024 Budget Are The Most Prominent Laws Of The Next Legislative Term

Iraq  01/09/2024     Baghdad: Omar Abdul Latif  The Legal Committee in the House of Representatives has placed the laws on general amnesty, narcotics and psychotropic substances, and amending the 2024 budget among its work priorities during the next legislative term.

Committee member Dara Hama Sikanyani explained to Al-Sabah that the committee had previously discussed the general amnesty law and sent it to the Presidency of the House of Representatives to include it on the agenda.

He added that the law must be amended in a manner commensurate with the crimes that have occurred in society and to prevent the release of terrorists whose hands are stained with the blood of Iraqis, stressing the need to include these groups in the penal code.

Sikanyani pointed out that the committee discussed many times the law on narcotic drugs and psychotropic substances because of the importance of this law in preventing the circulation of narcotic substances, which is considered the most dangerous scourge in the country, as it causes financial losses, destroys the energy of youth, and breaks up families socially.

He stressed that the next legislative term will witness an amendment to the 2024 budget, especially the financial entitlements of the Kurdistan region, due to the difficult circumstances its citizens are suffering due to the delay.

Their salaries for more than 3 months.  https://alsabaah.iq/90118-.html

The Exchange Rates Of The Dollar Against The Iraqi Dinar Today… Recorded An Increase

Economy 01-09-2024 | 6,274 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Tuesday, January 9, 2024.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 153,500 dinars for 100 dollars, while selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 154,500 Iraqi dinars, while purchasing prices reached 152,500 dinars for every 100 dollars.

On February 7, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

For about a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system “SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets.  LINK

It Was Withdrawn A Year Ago And Is Surrounded By Mystery… 9 Important Projects In The Corridors Of Parliament Awaiting Legislation

Posted On01-09-2024 By Sotaliraq  Baghdad/ Haider Hisham  More than 400 days have passed since many important laws were withdrawn from within Parliament, during the Council of Ministers session, at a time when many are wondering about the fate of these laws, and what is the reason that prevents the government from sending them back to the House of Representatives again, to vote on and approve them, but “ “An important obstacle” identified by politicians that may prevent any law from being amended or legislated.

On November 15, 2022, the Council of Ministers, headed by Muhammad Shiaa Al-Sudani, held its regular session, and during the session, the Council authorized Al-Sudani to withdraw important laws from the House of Representatives, which is what Al-Sudani actually worked on, as he worked to withdraw nine draft laws.

According to a statement from the Prime Minister’s Office, received by Al-Mada, “The Council of Ministers decided to withdraw the draft law on addressing residential abuses, the draft law on the Reconstruction Council, the withdrawal of the list of ambassadors, in addition to withdrawing the draft law amending the companies law, as well as withdrawing the law on the first amendment to the National Oil Company law.”

The decision also included the withdrawal of the Flag Service Law, and the draft law on the second amendment to the Public Roads Law, and the last law was represented by the Federal Civil Service.”

The second deputy in the Strategic Planning and Federal Service Committee, Muhammad Al-Baldawi, revealed the fate of the laws that the Council of Ministers withdrew, while noting that The “main reason” for withdrawing these laws is that some of them are likely to be passed during the new legislative term.

Al-Baldawi said, in an interview with (Al-Mada), that “the Council of Ministers withdrew many important laws to reconsider and audit them and then re-send them,” adding: “There were many comments about them in principle to the Iraqi Council of Representatives, which prompted the government To withdraw it.”

He added, “The Council of Ministers, after withdrawing the laws, decided to hand them over to advisors, who are currently working on holding continuous meetings and meetings in order to complete them and mature them in order to advance them to the House of Representatives, even if they carry few notes, and after that it is possible to proceed inside the dome of Parliament.” “Without any political objections to it.”

The Vice Chairman of the Planning Committee explains, “The new legislative term may witness the passage of many laws in the House of Representatives.”

Important obstacle”
Political affairs researcher, Ziad Al-Arar, identified an “important obstacle” in amending and legislating laws in Iraq, while sending a message to the political forces.

Al-Arar mentioned, in an interview with (Al-Mada), that “there is a real obstacle that everyone collides with, which is (political consensus), which if it is not achieved regarding any file in Iraq, this file will not be amended, and will not see the light,” indicating that “the differences Quotas and political consensus are what manage the process of running the country in Iraq.”

He goes on to say: “Neither the Sudanese nor anyone else can amend or legislate what the government deems appropriate unless there is a political consensus because the political process was built on the basis of consensus,” pointing out that “this consensus took a new turn, so the Shiite forces now have a political consensus on A specific issue, then the Sunni forces, and the same is the case with the Kurdish forces, as there must be consensus in these houses, and then it goes into the public space.”

The political affairs researcher points out, “The scene has become complex, and we cannot blame the government for a specific failure to legislate and amend laws in light of political consensus.

This is a fact that we must speak publicly about so that the political forces know that the people know what is going on behind the scenes.”

At a time when many observers and followers of parliamentary affairs in Iraq consider that the current session is the least in terms of legislation and oversight, including interrogations, compared to previous sessions, there are those who defend this session in terms of the circumstances that accompanied it.

It is noteworthy that the new legislative term of the House of Representatives will begin today, Tuesday, January 9, while the Presidency of the House announced last Sunday that it will set the date for the next regular session to complete legislative and oversight duties, in addition to setting a session to elect the Speaker of Parliament.   LINK 

 Provoking Points To Ponder on Adversity:

Problems are the cutting edge that distinguishes between success and failure. Problems … create our courage and wisdom.- M. Scott Peck

It is often better to have a great deal of harm happen to one than a little; a great deal may rouse you to remove what a little will only accustom you to endure.- Grenville Kleiser

When things come to the worse, they generally mend.- Susanna Moodie

Things have got to be wrong in order that they may be deplored.- Whitney Griswold

Remorse begets reform.- William Cowper

 

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