Bondlady’s Corner – Iraq Economic News and Points to Ponder Late Saturday Evening 4-13-24


Iraq Economic News and Points to Ponder Late Saturday Evening 4-13-24

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: My Visit To Washington Comes At A Delicate And Sensitive Circumstance 

Political |  04/13/2024   Mawazine News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday, that his visit to Washington comes at a delicate and sensitive circumstance at the level of bilateral relations and the situation of the region.

Al-Sudani said before leaving Baghdad for the United States of America, in a statement broadcast by the Prime Minister’s Media Office, followed by Mawazine News, that “the goal of the visit to Washington is to move the relationship between the two countries to a new stage and activate the strategic framework agreement,” pointing out that “the strategic framework agreement It is in line with the government program and the economic reforms it includes.”

The Prime Minister added, “Our meeting with President Biden will address the situation in the region and the role we played together to calm the situation after the events in Gaza, and will review the work of the Supreme Military Committee to reach a timetable for ending the mission of the international coalition.”

He pointed out that “the visit will witness the holding of the first meeting of the joint coordinating committee concerned with the implementation of the Strategic Framework Agreement, which has not held any meeting since the approval of the agreement,” indicating that “the meeting of the coordinating committee will address the files of trade, energy, investment, education, transportation, culture, anti-corruption, and money recovery.”

Al-Sudani pointed out that “the visit will witness several meetings with American ministers and heads of major oil and industrial companies,” stressing that “the content of the visit will bear an orientation toward building a sustainable strategic partnership based on mutual respect and preserving Iraq’s sovereignty.”

Foreign Ministry: Sudanese Will Strongly Propose Ending Sanctions On Iraqi Banks During His Visit To Washington

Saturday, April 13, 2024 Baghdad/National News Center  An official at the Iraqi Ministry of Foreign Affairs confirmed the intention of Prime Minister Muhammad Shia al-Sudani to present the file of ending sanctions on Iraqi banks by the US Treasury.

The source said that the visit “will not witness any radical changes in the relationship between Baghdad and Washington,” but added that the visit will include “discussing the file of the (international coalition forces to fight ISIS) and the American presence in Iraq, and the file of American financial sanctions on Iraqi private banks and institutions, and cooperation in Various security and economic fields.”

It is noteworthy that US sanctions recently targeted 28 banks for, according to Washington, their dealings with Iran, amid accusations of their involvement in dollar smuggling.

Baghdad and Washington are holding rounds of joint talks to remove international coalition forces from Iraq, as the first round was held on January 27. The first round led to an agreement to form a joint military committee to review and end the coalition mission, in addition to moving to bilateral security relations.

 The committee began its work on February 11. The same official stated that “the Sudanese will be at the head of a large ministerial and military delegation” to Washington, while “a bilateral partnership agreement will be announced” between the two countries.

It will also be “agreed on a periodic review of the American military presence, as well as the coalition forces, through dialogue rounds held by officials from both countries.”

For his part, the second Iraqi Foreign Ministry official ruled out any “major change in the form of the current relationship” between Iraq and the United States. He attributed this to “the situation in the Middle East, as well as the upcoming US presidential elections” next November.

Within Two Days…More Than $500 Million In Sales From The Iraqi Central Bank

Money  and business  Economy News – Baghdad  The Central Bank of Iraq’s total sales of hard currency for the US dollar during the two days in which the auction opened last week amounted to more than 500 million dollars.

During the past week and for two days in which the auction was opened, the Central Bank sold 533 million 978 thousand and 562 dollars, at a daily average of 266 million 989 thousand and 281 dollars, lower than what it recorded last week, which amounted to 1 billion 259 million 432 thousand and 212 dollars.

The highest dollar sales were on Monday, when sales amounted to 278 million 525 thousand 332 dollars, while the lowest sales were on Sunday, when sales amounted to 255 million 453 thousand and 230 dollars.

Foreign remittance sales during the past week amounted to 470,853,562 million dollars, an increase of 92% compared to cash sales, which amounted to 36,125,000 dollars.

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Globally, Oil Prices Fell In Early Trading

Economy | 08:48 – 04/13/2024  Mawazine News – Baghdad  Basra crude achieved slight weekly losses after gains that lasted for four weeks in a row, with global oil prices recording a decline of more than 1%.

Basra Heavy crude closed in its last session from the day before yesterday, Friday, with a decrease of 3 cents, reaching $86.51, and recorded gains and losses amounting to 32 cents, equivalent to 0.31%.

While Basra Average crude closed in its last session with a decrease of 3 cents, reaching $89.71, and also recorded weekly losses amounting to 7 cents, or 0.8%.

Global oil gains on Friday erased some of the losses recorded in the previous session, which was dominated by concerns about US inflation, which reduced hopes for lowering interest rates, while Brent fell 0.8 percent on a weekly basis, compared to a decline of more than one percent for US crude.

The Dollar Continues To Rise Due To The Eid Holiday

Economy | 11:24 – 04/13/2024   Mawazine News – Baghdad  The exchange rates of the dollar rose this Saturday morning in Baghdad, Erbil and Basra,

and according to the Mawazine News correspondent, the exchange rates of the dollar against the dinar, on the main Iraqi stock exchanges, today, Saturday, in Baghdad: reached 148,000, in Erbil 148,100, and in Basra: 147,600.

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Provoking Points To Ponder On Failures and Mistakes

I think and think for months, for years. Ninety-nine times the conclusion is false. The hundredth time I am right.- Albert Einstein

Take chances, make mistakes. That’s how you grow. Pain nourishes your courage. You have to fail in order to practice being brave.- Mary Tyler Moore

Take risks. You can’t fall off the bottom.- Barbara Proctor

When it goes wrong, you feel like cutting your throat, but you go on. You don’t let anything get you down so much that it beats you or stops you.- George Cukor

You must have long-range goals to keep you from being frustrated by short-range failures.- Charles C. Noble

Life is a series of relapses and recoveries.- George Ade