Bondlady’s Corner – Iraq Economic News and Points to Ponder Wednesday Afternoon  9-20-23


Iraq Economic News and Points to Ponder Wednesday Afternoon  9-20-23

Tlm724 Administrator Bondlady’s Corner

Al-Sudani Stresses Iraq’s Commitment To The Action Plan Of The International Conference On Financing For Development

Nawa:  Prime Minister Muhammad Shiaa Al-Sudani participated yesterday, Tuesday (Baghdad time), in the Sustainable Development Goals Summit, which was held in New York, in the United States of America.

Al-Sudani delivered a speech in which he affirmed Iraq’s commitment to the action plan of the International Conference on Financing for Development, which was held in Addis Ababa/2015, and the international plan issued by it calling for the development of integrated national financing frameworks to complement national strategies for sustainable development, as well as Iraq’s welcome to the summit’s adoption of the political declaration that confirms The urgent need to work hard to accelerate the implementation of development goals.

He also stressed the commitment to implementing the sustainable development goals, despite the complex challenges we face.

He said: We welcome the summit’s adoption of the political declaration, in which we stressed the need for serious work to accelerate the implementation of the sustainable development goals, especially in providing and mobilizing financial resources, in accordance with the Addis Ababa Action Programme.

He added: Our government is making great efforts to achieve the sustainable development goals, and we have made relative progress within this framework, and it is important to work with all partners to enhance progress in implementation.

He continued: Iraq submitted two voluntary reports on the extent of the sustainable development goals achieved in a transparent manner, and the Iraqi national government’s program is consistent with these goals. Pointing out that achieving the sustainable development goals is a national mission and a humanitarian duty, and Iraq deals with all of these goals at the same level.

Al-Sudani said: Implementing the sixth goal related to water is a priority in light of the severe drought that Iraq is witnessing, and we call for the comprehensive implementation of this goal and its economic and social repercussions. He stressed that Iraq welcomes the holding of the United Nations Water Conference in March 2023 and its outcomes.

He added: Iraq has taken a number of national measures related to the sixth goal, including: maintaining infrastructure, expanding the clean water network, using modern agricultural irrigation techniques, and maintaining irrigation channels.

He pointed out that Iraq faces challenges in financing the sustainable development goals, some of which are due to the financial losses it suffered in its war against ISIS terrorist gangs.

He said: Iraq gives priority to financing climate action. Being the most vulnerable to the effects of climate change.

He added: Iraq has begun implementing nationally determined contributions, including investing in associated gas to produce clean energy to achieve the goal of “zero flame” by 2030.

Dollar Prices Rise In Baghdad With The Stock Market Closing

Economy  Wednesday, September 20, 2023  Baghdad/National News Center   The prices of the US dollar rose against the Iraqi dinar, today, Wednesday, in the markets of the capital, Baghdad, with the stock market closed.

The National News Center correspondent said, “Dollar prices rose with the closure of the main Kifah and Harthiya stock exchanges in Baghdad, recording 156,500 dinars against 100 dollars, while dollar prices this morning recorded 156,300 dinars against 100 dollars.”

He added, “Selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 15,700 dinars for 100 dollars, while the purchase price reached 155,500 dinars for 100 dollars.”

The National Security Advisor Confirms Iraq’s Keenness To Cooperate With The NATO Mission

Wednesday 20, September 2023 | Political Number of readings: 137  Baghdad / NINA / National Security Advisor Qasim Al-Araji confirmed Iraq’s keenness to cooperate with the NATO mission.

The Chancellery said in a statement: “Araji met in his office today with a high-level delegation from the Dutch Ministry of the Interior, in the presence of the head of the European Union advisory mission in Iraq, Anders Vibari.”

She added: “During the meeting, ways to enhance cooperation and benefit from the experiences of friendly countries were discussed to develop the capabilities of the Iraqi police.”

Al-Araji stressed Iraq’s keenness to cooperate with the NATO mission, pointing out that the relationship between Iraq and NATO is a strategic relationship that is in the interest of exchanging expertise, consultation and information, stressing that the Iraqi security forces have gained field experience in their battle with ISIS, and this experience must be developed and supplemented by Cooperation with friendly countries.

Al-Araji also pointed out that the world remains cohesive in confronting terrorism and strengthening positions against extremism, hate speech, and extremism.

Al-Araji stressed the importance of cooperation and benefiting from international expertise in the field of developing community police skills, stressing that the role of this type is important in society and sends a message of reassurance to citizens.

The World Bank Mission Comments On The Implementation Performance Of Social Fund For Development Projects

Money  and business  Economy News – Baghdad The World Bank mission in Iraq praised, on Wednesday, the level of performance and progress achieved in implementing the projects of the Social Fund for Development affiliated with the Ministry of Planning during the past months, according to a statement published by the latter.

According to the ministry’s statement, this came “during the letter sent by the resident representative of the World Bank in Iraq, Richard Abdel Nour, to the Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, following a series of joint meetings between the two sides.”

Abdel Nour expressed his “thanks to the teams of the Ministry of Planning and the Social Fund for the Development Project, for the excellent cooperation and support provided to the World Bank team during the implementation support mission, which took place from August 31 to September 5, 2023.”

Abdel Nour also thanked the representatives of the Prime Minister’s Advisory Committee and the Ministry of Finance for their participation in the mission. Pointing out that the Fund has made good progress during this period, praising the level of performance of the Fund Manager, the Project Management Office, and the project management teams over the past few months, stressing that the intensive efforts made by those teams contributed to accelerating the implementation of projects, with commitments increasing to about 130 million. dollar “.

The World Bank representative noted in his letter that “the mission has reviewed and discussed the Iraqi government’s request to address a second restructuring of the Social Fund to improve long-term institutional development prospects and increase allocations to community-led subprojects.”

He expressed his “aspiration for continued cooperation between the two sides, stressing the keenness and readiness of the World Bank to support the efforts of the Ministry of Planning, to make the Social Fund for Development experiment a success, and to achieve comprehensive social protection in Iraq.”

Views 29   09/20/2023 –

The Central Bank Sells More Than $197 Million In Currency Auction

Economy News – Baghdad  Today, Wednesday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 197 million dollars.

The Central Bank’s website published its dollar sales schedule, which Al-Iqtisad News viewed. It included the participation of 26 banks and 110 exchange companies, and foreign transfer requests covered $167.2 million, while cash requests amounted to more than $29.8 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

Views 74 09/20/2023 –

Oil Prices Recorded $93.55 Per Barrel

Economy |  09/20/2023  Ann News – Baghdad  Oil prices fell from their highest levels in ten months in Asian trading on Wednesday ahead of the Federal Reserve’s (US central bank) decision on interest rates, with investors uncertain about when interest rates will reach their peak and the extent of this impact on energy demand.

Investors are awaiting a set of interest rate decisions from major central banks this week, including the US Federal Reserve’s decision on Wednesday, to assess the outlook for economic growth and fuel demand.

The Fed is widely expected to keep interest rates unchanged, but the focus will be on its policy path, which is unclear.

Prices fell despite increasing fears of a scarcity of crude supplies in the remainder of 2023 due to a larger-than-expected withdrawal from US oil reserves and weak shale oil production in the United States.

Sector data showed on Tuesday that US crude oil inventories decreased last week by about 5.25 million barrels, according to data from the American Petroleum Institute.

Analysts in a poll conducted by Reuters had expected a decrease of 2.2 million barrels.

“The significant decline in US oil inventories and the slowdown in shale oil production in the United States have exacerbated supply concerns resulting from the extension of production restrictions by Saudi Arabia and Russia,” said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities.

He added, “There will be some short-term adjustments in oil prices due to the recent rise, but expectations of reaching $100 a barrel for both Brent and West Texas Intermediate later this year will remain unchanged.”

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Points to Ponder on Truth:
The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth.   Niels Bohr (1885 – 1962)

The truth is rarely pure and never simple.   
Oscar Wilde (1854 – 1900), The Importance of Being Earnest, 1895, Act I

Truth persuades by teaching, but does not teach by persuading.  
 Quintus Septimius Tertullianus (160 AD – 230 AD), Adversus Valentinianos

Truth is beautiful, without doubt; but so are lies. 
 Ralph Waldo Emerson (1803 – 1882)

I have been truthful all along the way. The truth is more interesting, and if you tell the truth you never have to cover your tracks.   
 Real Live Weblog, January 04, 2004

I guess sometimes you have to lie to find the truth. 
Scott Westerfeld, Extras, 2007

Turns out if you never lie, there’s always someone mad at you.  
 Scott Westerfeld, Extras, 2007

How often have I said to you that when you have eliminated the impossible, whatever remains, however improbable, must be the truth?   
 Sir Arthur Conan Doyle (1859 – 1930), (Sherlock Holmes) The Sign of Four, 1890