TNT – Thursday “Iraq News” ” Posted by TNT Members 4-4-2024

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Tishwash:  Iraq is no where on this list  but in their news they added themselves hahaha are they trying to tell their citizens something? Hahaha

Topped by the Kuwaiti dinar… Iraq is among the strongest currencies in the world

The strength of a currency is determined based on various factors, including interest rate differences and terms of trade. What will be the strongest currencies in the world in 2024?

The Techopedia website published a classification of the world’s strongest currencies against the US dollar, and the site stressed the importance of various economic indicators and geopolitical tensions in determining the currency exchange rate.

Currency strength is the relative purchasing power of the currency compared to other currencies, and the US currency was adopted in the classification as a standard. According to the site, 3 Arab currencies topped the rankings.

Below are the 10 strongest currencies in the world (based on data from March 27, 2024): link

CandyKisses:  Dollar falls again against the dinar in Baghdad and Erbil

Shafaq News / The exchange rates of the US dollar fell, on Thursday, in the markets of Baghdad, and in Erbil, the capital of the Kurdistan Region.

The correspondent of the Shafaq News Agency said that the dollar prices fell with the opening of the Al-Kifah and Al-Harithia stock exchanges to record 147,100 dinars for every 100 dollars, while it recorded on Wednesday 147,650 dinars for every 100 dollars.

Our correspondent pointed out that the selling prices in exchange shops in local markets in Baghdad fell, as the selling price reached 148,000 dinars, while the purchase amounted to 146,000 dinars per 100 dollars.

In Erbil, the dollar also recorded a decline in exchange shops, with a selling price of 146,900 dinars against the dollar and the purchase price of 146,800 dinars against 100 dollars.

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Tishwash:  Al-Sudani informs the framework of the reasons for his visit to Washington

 Iraqi Prime Minister Muhammad Shiaa Al-Sudani informed the Shiite coordination framework of the reasons for his visit to Washington, most notably the arrangement of the bilateral relationship between Iraq and the United States, according to what a leader in the framework said on Thursday.    

The leader of the framework, Amer Al-Fayez, told Shafaq News Agency that the coordination framework held a meeting yesterday, Wednesday, in the presence of Prime Minister Muhammad Shiaa Al-Sudani, during which the latter’s visit to the United States of America and the file of electing the Speaker of the House of Representatives were discussed.

He added that the Sudanese presented during the meeting the reasons for his visit to Washington, and that the purpose of the visit was to arrange the bilateral relationship between Iraq and the United States after the departure of the coalition forces, as discussions are now taking place between the joint military committees to arrange and discuss the mechanism for the exit of forces from Iraq.

Al-Fayez explained that Iraq is keen, at the same time, to maintain a friendly relationship with the United States, which is in the interest of both countries in the political, economic and security aspects, as well as in the field of training and military expertise.

He stressed that the visit comes for cooperation between Iraq and the United States, and that Al-Sudani will accompany with him during his visit a number of ministers, members of the House of Representatives, and businessmen for the purpose of making this visit a success, and arranging the bilateral relationship between Iraq and the United States.

He stated that during his visit to Washington, Al-Sudani will focus on developing economic relations between Iraq and the United States.

Iraqi Prime Minister Muhammad Shia al-Sudani is scheduled to visit Washington to meet with US President Joe Biden on April 15, in his first visit since assuming office in October 2022. ink

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Tishwash:  Adviser to the Prime Minister: Iraq is within the safe range countries in terms of paying foreign debts

Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reasons for reducing annual allocations to pay off foreign debts, while noting that Iraq is among the countries in the safe range in terms of debt repayment.

Saleh said to the Iraqi News Agency (INA): “According to international standards in calculating the ability of the national economy to bear the burden of external debt, Iraq is among the group of countries in the safe range in terms of the global standard for the ratio of the external debt stock,” indicating that “the gross domestic product According to estimates, it does not exceed 20 percent, while the global measure of the debt-to-GDP ratio allows up to 60 percent.

He explained, “Given Iraq’s regularity in repaying its external debts due annually, of which only approximately 20 billion dollars remain, the annual allocations to pay external debts through the federal general budget allocations have begun to show a clear decline and decrease in the amount of external debts due, and this has been reflected.”

 This is in the 2024 budget tables regarding allocations for external debt payments, compared to the 2023 budget tables, with a difference of decrease that may exceed a billion dollars.

He added, “This matter is reflected in Iraq’s high creditworthiness in repaying its debts to external creditors and its commitment to repayment since the Paris Club Agreement in 2004 until the present. These are annual financial allocation mechanisms whose installments and interest are paid on a regular basis through the annual general budget, and they are decreasing. This means that the external debt gap is heading towards shrinking and then almost disappearing.”

He noted that “the Paris Club Agreement in 2004 dropped more than 100 billion dollars of Iraq’s pre-1990 debt after Iraq obtained a discount on its debts at that time, which was 80 percent and more, and only a little of the remnants of those debts remained after it was removed.” The remainder of it has been scheduled and is paid annually according to a precise and regular accounting mechanism on the part of Public Finance and the Central Bank of Iraq, and the continuous decrease in its allocations is demonstrated by the amount of the decrease in the annual allocation of external receivables from the debts that must be paid and their waiver annually   link

Tishwash:  The Sudanese directs to reject any delay or delay in the development road project.. and an Iraqi delegation visits Europe

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixth meeting of the Supreme Committee for the Development Road, during which the latest executive steps were followed up and the procedures related to the project continued to be completed, and ways to resolve controls and instructions related to customs, tax and transit tariffs were discussed, within Project management and operation system.

The meeting also witnessed discussion of the tasks of the diplomatic delegation that will visit the European Union countries, in coordination with the Turkish side, within the route of the stations related to the project. The current position of expropriations related to the route of the road was also reviewed, and ensuring the removal of any technical or legal conflicts from all sections.

During the meeting, the Prime Minister stressed the importance of continuous coordination between the relevant authorities, ministries, relevant formations and governorates, on the path of the road, and that these parties as a whole deal with the development road project as a special priority for the Iraqi economy, and that they work to reduce time, overcome routine obstacles and bypass Obstacles. 

Al-Sudani also renewed his previous directives to reject any case of delay or delay, given the exceptional importance posed by the path of development, its pivotal position and its connection to all economic development sectors, and the government’s plans to achieve a comprehensive future economic renaissance.

The meeting also reviewed the progress rates achieved in the Al-Faw Grand Port project, its five berths, and the conformity of the work progress with the implementation schedule.   link