Iraq resumes negotiations to join WTO

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Hashemi added that "the first preparatory meeting was held at the organization's headquarters with the Director of the Accession Department and the organization's experts in goods, services and intellectual property, headed by the Director General of the Department of Economic Relations and the membership of negotiators representing the Iraqi ministries and the Kurdistan Region; to discuss the most important files and documents submitted by Iraq in the previous stage." He pointed out that "the third official meeting of the working group, which will be headed by the Minister of Trade representing Iraq, will witness a review of the files and documents completed by the National Committee concerned with accession."

Iraq moves to break dollar restrictions in crucial talks with Washington

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Iraq experienced a shortage of dollars last year after the Federal Reserve Bank of New York began closely examining transfers to Iraqi banks. Iranian companies and individuals have long used banks in neighboring Iraq to access dollars and circumvent U.S. sanctions.

The Central Bank of Iraq has pledged to restrict all domestic trade transactions starting this year, in an attempt to limit dollar dealings outside the Iraqi banking sector and limit its smuggling abroad.

Hussein pointed out that the talks with the US Treasury aim to ease these restrictions and ensure a smoother flow of dollars into the Iraqi economy. These talks are expected to contribute to finding sustainable solutions to the financial issues facing Iraq and easing pressure on the national economy.

Baghdad and Washington discuss the stability of the exchange rate of the dinar against the dollar

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For his part, Nelson praised "the steps taken by the Iraqi government to support the Iraqi economy and address the challenges facing it. He stressed that the relevant American institutions understand the seriousness of the Iraqi government in updating the work mechanisms in Iraqi institutions, expressing the American side's readiness to help ⁠Iraq ⁠In addressing the obstacles facing his reforms, which will have a positive impact on the Iraqi economy.

The Central Bank explains the reasons for the rise in dollar prices

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Today, Wednesday, a member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, explained the reasons for the rise in dollar exchange rates in the local market.

Berihi said in a statement to the Maalouma Agency, “The issue of the rise in the exchange rate of the dollar against the Iraqi dinar in the local market is not related to the measures taken by the bank, but rather due to the American restrictions imposed on the Central Bank and related to the electronic platform.”

He added, "Another reason related to the rise in the exchange rate of the dollar is the connection to the electronic platform that controls the floating of the currency in the market where it is less than the demand. Therefore, the price of the dollar will be raised and the platform is controlled by the US Federal Reserve, which will cause a difference from the official price."

The dollar's flight does not threaten the dinar

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The dollar's flight does not threaten the dinar.. Al-Sudani's advisor dispels fears: The dollar system is a thing of the past

The financial and economic advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, commented on Monday on the return of the rise in the exchange rate of the US dollar against the Iraqi dinar in local markets.

Saleh explained to Shafaq News Agency, "The fixed exchange rate system in Iraq is based on an international reserves base that is the highest in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued."

Will the exchange rate reach 1600 dinars?

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Economic expert, Munar Al-Abidi, confirmed that the dollar exchange rate in the parallel market may reach 1,600 dinars in the coming days after the Central Bank reduced the money supply.

Al-Obaidi said that the parallel exchange rate in the local market changes as a result of supply and demand, noting that it is expected that the value of the dinar will decrease against the dollar in the coming days and reach the 1,600 dinar barrier.

He added that the reduction in the sale of cash dollars in the local market by the Central Bank is the main factor behind the rise in the value of the dollar, and the price will depend on the provision of hard currency

Despite the rise in the dollar, Saleh: The parallel market today is not important

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He added, "In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1320 dinars per dollar."

Massoud Barzani in Baghdad on Wednesday for the first time in 6 years.. What does he bring?

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According to local reports and Kurdish sources, Barzani will visit Baghdad next Wednesday to discuss several issues. The visit can be described as not discussing pending files, but rather as a final culmination of the end of all technical and legal discussions on all current files, at least those related to salaries and political crises, while the major files, such as the oil and gas law, as well as the file of resuming the export of the region’s oil, which has become a vicious circle between Baghdad and foreign companies operating in the region, continue.

The President of the Republic approves the 2024 budget schedules

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Today, Thursday, President Abdul Latif Rashid ratified several laws, including the 2024 budget schedules.

The Presidency of the Republic stated in a statement received by {Al-Furat News}, that “The President of the Republic, Abdul Latif Rashid, ratified a number of draft laws, which are the schedules of the Federal Budget Law for the year 2024, the first amendment to the law against prostitution and homosexuality, and the law extending the work of the Independent High Electoral Commission.” And the first amendment law to the law regulating the rent of agricultural lands and ownership of the right to dispose of them for agricultural and veterinary graduates.”

She added, "The laws were sent after their approval by the President of the Republic for publication in the Iraqi newspaper Al-Waqa'i to enter into force."

Parliamentary calls to curb the rise of the dollar in Iraq

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Saturday, Representative Ola Odeh called on the Central Bank of Iraq to take serious steps and quick measures to limit the continuing crisis of the high exchange rates of the dollar against the Iraqi dinar.

Odeh said in an interview with the “Al-Ma’louma” Agency, “The exchange rates of the dollar against the Iraqi dinar during the days of Eid Al-Adha witnessed a significant increase compared to the previous period.”

She added, "The coming period requires a greater effort by the Central Bank of Iraq and the Ministry of Finance to put an end to the phenomenon of high exchange rates of the dollar against the dinar."