Iraqi News Highlights and Points to Ponder Thursday AM 2-1-24
Escalation Is Not In Iraq’s Interest.. Parliament Indicates The Danger Of Moving Away From The Dollar By Selling Oil
Economy |Baghdad Today – Baghdad Today, Thursday (February 1, 2024), the Parliamentary Oil and Energy Committee pointed out the danger of moving away from the dollar in selling Iraqi oil, while stressing that escalation is not in the country’s interest.
A member of the Parliamentary Oil Committee, Dhargham Al-Maliki, acknowledges today that moving away from the dollar in selling oil will create an escalation that is not in the interest of Iraq.
Al-Maliki said in an interview with “Baghdad Today” that “Iraq’s resort to selling oil at other currencies’ prices may be part of the tools for an economic solution to the current situation, but it is not at the level that some imagine, especially since there are many complications, the most prominent of which is the pricing of selling oil in OPEC and the rest of the international organizations.” The other on the dollar.
Political side
He added, “The dollar crisis in Iraq has a political aspect and is not a purely economic matter, and its solution begins with fulfilling government promises regarding addressing many of the problems with the American side in order to accelerate the payment of financial dues coming from the treasury for the sale of crude oil.”
Iraq share
He pointed out that “continuing to sell oil away from the dollar will create escalation and lead to reducing Iraq’s share of the dollar, and this matter is not in the interest of the economy,” stressing “the need for treatments to be objective according to a vision that takes into account the country’s interests and for its markets not to be affected by any movement, whether in selling oil.” “Or something else.”
Earlier today, economic affairs expert Nabil Al-Marsoumi raised a question about the greatest danger facing Iraq, and whether it lies in the American bombing or selling oil in a currency other than the dollar?
He pointed out in a blog post followed by “Baghdad Al-Youm” that “the calls to sell Iraqi oil in a currency other than the dollar lack realism and reflect a wrong understanding of the basics of oil pricing in the global market, and because it will expose Iraq to very violent American reactions, because abandoning the dollar is an American red line.” “It will threaten the global position of the dollar, which currently represents 60% of global monetary reserves, and will undermine the economic importance of the United States on the global level.” LINK
Two Aspects, “Negative And Positive”… What Are The Effects Of US Sanctions On Iraqi Banks?
Baghdad today – Baghdad Today, Wednesday (January 31, 2024), expert in banking affairs, Ahmed Al-Tamimi, reviewed the expected effects of US sanctions on some Iraqi banks, noting that they have two aspects, “negative and positive.”
Al-Tamimi told “Baghdad Today” that “the American sanctions on some Iraqi banks have two sides, negative and positive.” The positive thing is that these sanctions will significantly reduce money smuggling and money laundering operations, and this gives strength to the Iraqi economy, as no economy can To be strong in light of currency smuggling operations.”
He added, “The negative side is that the American sanctions give a negative and unsuspecting impression regarding banking work inside Iraq, and this reduces citizens’ dependence on banks to store money or conduct banking transactions. It also temporarily affects the dollar exchange rate, since one of the sources of smuggling has stopped, and this means that the increase will be More on the black market (parallel market).”
Earlier today, Central Bank Governor Ali Al-Alaq confirmed, “There is a big difference between including a bank on the sanctions list by the Office of Foreign Assets Control (OFAC) and stopping a bank from dealing in dollars, which does not represent a punishment as much as it motivates the bank to adhere to the requirements.” Local and international compliance and combating money laundering and terrorist financing.
He pointed out that “talk about the issuance of decisions by the US Treasury to punish a number of Iraqi banks is inaccurate, and what was issued recently only relates, so far, to Al-Huda Bank and the Chairman of its Board of Directors.”
He explained that “what is mentioned regarding other banks is that the Central Bank, in continuous operations, deprives some banks for reasons related to factors or issues of compliance with instructions, controls, and rules for combating money laundering and terrorist financing,” noting that “there is a Fines and Penalties Committee that issues dozens of decisions weekly, especially since and after the platform was implemented.” Electronic banks have become obligated and required to follow compliance rules and sound international standards.” LINK
Sudanese Advisor: The Financial Situation In Iraq Is Stable And Sound
Economy | 01/02/24 Mawazine News – Baghdad, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Thursday, that the future outlook on the financial situation in Iraq is stable, while indicating that oil market indicators are still more than 10% above the price specified in the budget until now.
Saleh said, “The federal general budget for the year 2024 is still stable, with an expenditure ceiling of approximately 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent of the total expenditure ceiling, and oil exports are stable at their set rates of approximately 3.4 million barrels of oil per day.” The price of a barrel for the purposes of calculating budget revenues from exported oil is $70 per barrel,” pointing out that “oil market indicators are still more than the price specified in the budget by more than 10% until the moment.”
He added, “Energy market expectations lead to an increase in the needs of continued demand for crude oil in general,” noting that “the future outlook on Iraq’s financial situation is stable.”
He pointed out that “there is high stability as we enter the second month of the current year, which indicates that the budget is in balance and carries some surpluses, so the situation is stable, good and sound.” https://www.mawazin.net/Details.aspx?jimare=241425
Advisor To The Prime Minister: The Financial Situation In Iraq Is Stable And Sound
Sudanese Advisor: Money and business Economy News _ Baghdad Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Thursday, that the future outlook for the financial situation in Iraq is stable, while indicating that oil market indicators are still more than 10% above the price specified in the budget until now.
Saleh said, in an interview with the Iraqi News Agency, followed by “Al-Eqtisad News,” that “the federal general budget for the year 2024 remains stable, with an expenditure ceiling of about 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent of the total spending ceiling, and oil exports.”
Stable at its set rates of approximately 3.4 million barrels of oil per day, at a price of a barrel for the purposes of calculating budget revenues from exported oil of $70 per barrel,” pointing out that “oil market indicators are still more than the price specified in the budget by more than 10% until the moment.”
He added, “Energy market expectations lead to an increase in the needs of continued demand for crude oil in general,” noting that “the future outlook on Iraq’s financial situation is stable.”
He pointed out that “there is high stability as we enter the second month of the current year, which indicates that the budget is in balance and carries some surpluses, so the situation is stable, good and sound.” Views 64 02/01/2024 – https://economy-news.net/content.php?id=40040
Advisor Mazhar Saleh: The Future Outlook For The Financial Situation In Iraq Is Stable
February 1, 2024 Baghdad/Al-Masala Al-Hadath: Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that the future outlook on the financial situation in Iraq is stable, while pointing out that oil market indicators are still more than 10% above the price specified in the budget until now.
Saleh said that the federal general budget for the year 2024 remains stable, with an expenditure ceiling of about 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent of the total spending ceiling, and oil exports are stable at their rates set at approximately 3.4 million barrels of oil per day at the price of a barrel. For the purposes of calculating budget revenues from exported oil at $70 per barrel, he pointed out that oil market indicators still exceed the price specified in the budget by more than 10% until now.
He added that the expectations of energy markets indicate an increase in the needs of continued demand for crude oil in general, indicating that the future outlook for Iraq’s financial situation is stable.
He pointed out that there is high stability as we enter the second month of the current year, which indicates that the budget is in balance and carries some surpluses, so the situation is stable, good and sound. https://almasalah.com/archives/81458
Compiled By Kevin Kruse Top 100 Inspirational Quotes
Inspirational quotes and motivational quotes have the power to get us through a bad week, and can even give us the courage to pursue our life’s dreams.
In my book, 4 Keys to Happiness and Fulfillment at Work, By Kevin Kruse, I share surprising research into the true triggers of workplace motivation.
So in the spirit of self motivation, here are 100 inspirational quotes.
- It does not matter how slowly you go as long as you do not stop. – Confucius
- If you look at what you have in life, you’ll always have more. If you look at what you don’t have in life, you’ll never have enough. – Oprah Winfrey
- Remember that not getting what you want is sometimes a wonderful stroke of luck. – Dalai Lama
- You can’t use up creativity. The more you use, the more you have. – Maya Angelou
- Dream big and dare to fail. – Norman Vaughan
http://www.forbes.com/sites/kevinkruse/2013/05/28/inspirational-quotes/