Bondlady’s Corner – Iraq Economic News and Points to Ponder Thursday Evening 2-8-24


Iraq Economic News and Points to Ponder Thursday Evening 2-8-24

Tlm724 Administrator Bondlady’s Corner

Washington: We Support The Sovereignty Of Iraq And Are Holding Talks With It About The American Military Situation There

Time: 02/08/2024 Read: 936 times {Politics: Al-Furat News} US National Security Council spokesman John Kirby announced Washington’s support for the sovereignty and unity of Iraq. Kirby said in a press statement, “We have good relations with Iraq and we support its territorial sovereignty.”

He added, “We are holding talks with Iraq about the American military situation in the country.”

The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, announced in a brief statement this evening, a copy of which {Al-Furat News} received, that “to discuss and schedule the end of the international coalition’s mission in Iraq, the Supreme Bilateral Military Technical Committee between Iraq and the United States of America will resume its work next Sunday.”

It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani confirmed during his meeting with the Spanish Minister of Defense today that “the insistence on ending the international coalition’s mission in Iraq comes after the Iraqi forces gained advanced capabilities in combating terrorism, and the remnants of ISIS no longer pose a threat to the Iraqi state.”  LINK

Will The Banking System Collapse In Iraq? A Former Director Of The Central Bank Answers

Money  and business   Economy News – BaghdadOn Thursday, Mahmoud Dagher, an economist and former director general of the Central Bank, ruled out the collapse of the banking system in Iraq following the sanctions imposed by the US Treasury on a group of banks in the country.

Dagher said in an interview followed by Al-Iqtisad News, “The collapse of the banking system due to these sanctions and restrictions will not happen despite the continued pressure of this intensity that is harming these banks.”

He added that there are no real reasons for these sanctions, adding that the US Treasury only restricted these banks from obtaining the dollar.

Dagher stated, “Because there are no reasons, and because the case is suspicious, it is not a penalty, but rather a restriction on those banks, but it results in harm to them, to the people, and to the import financing process.”

He stated that the penalties were based on banks dealing with suspicious financial transfers during the past year 2023.

The day before yesterday, Tuesday, Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, called on the United States of America to reconsider the sanctions imposed on 21 Iraqi banks that contribute to financing the food basket items for families with limited income, as the Iraqi Ministry of Foreign Affairs announced on Wednesday.

In July 2023, the US Treasury Department imposed sanctions on 14 Iraqi banks in a crackdown on Iran’s dollar transactions.

An official document issued by the Central Bank of Iraq this February showed that 8 Iraqi banks were banned from participating in the foreign currency buying and selling window.

Iraq has more than 70 private banks, a relatively new feature in a sector that was almost entirely under state control until the fall of Saddam Hussein’s regime after the US invasion in 2003.

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Prime Minister: The Government Has Placed Combating Corruption At Its Top Priority

Economy News – Baghdad   Prime Minister Muhammad Shiaa Al-Sudani confirmed on Thursday that the government has placed combating corruption at its top priority.

The Prime Minister’s Media Office said in a statement, seen by Al-Iqtisad News, that “Prime Minister Muhammad Shiaa Al-Sudani received the head of the Lebanese National Anti-Corruption Authority, Judge Claude Karam.”

Al-Sudani pointed out – during the meeting – that “the Iraqi government has placed the fight against corruption at the top of its priorities, and has made the cooperation of brotherly and friendly countries with Iraq on the issue of recovering stolen and wanted funds a criterion for successful diplomatic relations with those countries.”

The statement added, “The meeting witnessed a discussion of requests for legal assistance, procedures for extraditing those wanted in corruption cases, recovering stolen funds, exchanging information regarding the accused and wanted persons, and emphasizing the importance of exchanging experiences and techniques that raise the efficiency of workers in the field of combating corruption in the two countries.”   Views 54    02/08/2024

Oil Rises Due To Strong Demand For Fuel In America  

Mawazine News – Baghdad   Oil prices recorded an increase during early Thursday trading, after Israel rejected a proposal from the Palestinian Hamas movement for a ceasefire, while talks continue to try to end the ongoing conflict in Gaza and tensions in the Middle East in general, which have cast a shadow on the market since October.
Indications of strong demand for fuel in the United States also supported the market’s upward trend this week.
By 01:32 GMT, Brent crude futures rose 22 cents, or 0.28 percent, to $79.43 per barrel, and US West Texas Intermediate crude futures increased 19 cents, or 0.26 percent, to $74.05 per barrel.

Dollar Exchange Rates Recorded A Slight Increase In 7 Governorates

Thursday 08, February 2024 18:36 | Economical Number of readings: 302  Baghdad / NINA / The exchange rates of the dollar against the dinar recorded a slight increase this evening, Thursday, in 7 Iraqi governorates.   Below is a list of the dollar selling price:

Baghdad 152,350   Erbil 152,200   Basra 152,500   Najaf 152,400   Nineveh 152,300  Kirkuk 152,300   Sulaymaniyah 152,300.

 To read more current and reliable Iraqi news please visit BondLady’s Corner: 

 Points To Ponder on Anxiety about the Future Quotes and Quotations
He that fears not the future may enjoy the present.  – Thomas Fuller

Grief and constant anxiety kill nearly as many women as men die on the battlefield.  – Mary Bokin Chesnut

To tremble before anticipated evils is to bemoan what thou hast never lost.  – Johann von Goethe

He who foresees calamities suffers them twice over.  – Beilby Porteous

He who fears he shall suffer already suffers what he fears.  – Michel de Montaigne

If you are afraid for your future, you don’t have a present.  – James Petersen