TNT – “Tidbits From TNT” Sunday 10-22-2023

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CandyKisses:  International and international pressure to pass the oil and gas law

{Politics: Euphrates News} KDP leader, Wafaa Mohammed Karim, revealed international and international pressure to pass the oil and gas law.

“The issue of passing the oil and gas law cannot be overcome if there is no political agreement on the draft law,” Karim told {forat News}.

“At the moment there are political parties that are not served by the passage of the law, but there is international and international pressure on the government to pass the law,” he added.

Karim explained, the reason for this to “Iraq’s position as the second oil-producing country in OPEC by exporting 4 million and 250 thousand barrels and does not yet have an oil export law.”

It is noteworthy that since the first session of the House of Representatives, in 2005, the oil and gas bill has remained locked in drawers, as disagreements prevent its final approval.

After 18 years, he announced, in late August, the formation of a committee to draft an “oil and gas law and present it to the government and the House of Representatives.”

The committee formed between Baghdad and Kurdistan to draft an oil and gas law includes “the Minister of Oil, the Minister of Natural Resources in the region, the Director General of Sumo Company and the advanced staff in the Ministry of Oil, as well as the oil-producing provinces such as Basra, Dhi Qar, Misan and Kirkuk.”

The Prime Minister, Mohammed Shia Al-Sudani, said at the beginning of last August that “the draft oil and gas law is one of the basic and important laws, represents a factor of strength and unity for Iraq, and it has been stuck for years, at a time that the country today is in dire need of its legislation and benefit from this natural wealth, in all fields and sectors, as well as the contribution of the legislation of the law to solving many outstanding problems.”

The Prime Minister’s financial adviser, Mazer Mohammed Saleh, confirmed in a press statement that accelerating the approval of the federal oil and gas project law in the House of Representatives as soon as possible will establish a stable national road map for investment and production for the country’s main sovereign resource, which is oil and gas.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold accounts for more than 90 percent of Iraq’s treasury resources.

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CandyKisses:  Teaching staff demonstrate in 12 cities in the region and confirm the continuation of the general strike

Baghdad today – Erbil 

 Hundreds of teaching staff demonstrated today, Sunday (October 22, 2023), in 12 cities in the Kurdistan region, while affirming the continuation of the general strike. 

The “Baghdad Today” correspondent said, “Today, teachers launched a demonstration in 12 cities in the Kurdistan region to demand the payment of their dues, and to protest the delay in salaries.” 

He added that they “confirmed the continuation of the general strike until their legitimate demands are met.”

He pointed out that “the teaching staff in Sulaymaniyah Governorate also launched a demonstration today to demand the payment of arrears of salaries, like the rest of their peers.” 

On October 19, 2023, an official source revealed that 12 cities in the Kurdistan region will witness protest demonstrations for educational and teaching staff due to delayed salaries.

The source told “Baghdad Today” that “the unified mass demonstrations will start at 10 am on October 22, 2023 in front of the directorates of education in those cities.”

“The cities that will witness demonstrations are (Sulaymaniyah, Halabja, Garmian administration, Koya district, Ranieh district, Sharzor, Sayed Sadiq district, Kafri, Chamchamal district, Qal’at Dizi, Penguin district, Darbandikhan district),” he said.

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Tishwash:  Where do the billions of transfers from the central bank go?

The Central Bank of Iraq’s total sales of hard currency in US dollars during the past week amounted to more than $985 million.

During the past week and for the five-day period during which the auction was opened, the Central Bank sold 985 million 596 thousand and 5 dollars, at a daily rate of 184 million 462 thousand and 106 dollars, higher than what it recorded last week, which amounted to 801, 133 thousand and 899 dollars.

The highest dollar sales were on Tuesday, when sales amounted to 199 million, 829 thousand and 639 dollars, while the lowest sales were on Sunday, when sales amounted to 193 million, 925 thousand and 190 dollars.

Foreign remittance sales during the past week amounted to 776 million, 984 thousand and 105 dollars, an increase of 64% compared to cash sales, which amounted to 280 million, 613 thousand and 900 dollars.

The sales were in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,310 dinars per dollar. link

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Tishwash:  The Central Bank takes 5 measures to contain the rise in the dollar

Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Sunday that the Central Bank of Iraq has begun adopting 5 mechanisms to contain the rise in the parallel market.

Al-Karawi said in an interview with Al-Maalouma, “The difference between the dollar exchange rate determined by the Central Bank and the parallel market reaches 20%, which is a high percentage that reflects a serious state of concern because it is unstable.”

He added, “The possibility of the dollar rising is great with the demand for the parallel market in order to finance deals and travel trips for thousands of citizens,” noting that “the last meeting with the management of the Central Bank revealed negative indicators and cases in some aspects in terms of securing liquidity for the dollar in order to meet all requests.” Purchase,” pointing out that “the bank has begun to adopt 5 mechanisms to contain the rise in the parallel market, the most prominent of which is reducing dollarization in transactions according to specific contexts.”

He pointed out that “reducing the dollar exchange rate is very important, especially since any rise leads to great pressure on the markets and pushes prices higher, with speculators exploiting any opportunity to profit.”

The dollar exchange market in Iraq is witnessing an unstable situation in light of its breaking the barrier of 160 thousand dinars per $100   link