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Tag: Economic News

CBI has Signed MOU with the Palestinian Monetary Authority

CBI has Signed MOU with the Palestinian Monetary Authority

The Governor of Iraqi Central Bank Ali Mohsin issued a statement after signing a memorandum of understanding between Iraq and Palestine at the Iraqi embassy in the Jordanian capital Amman. The Governor of Iraqi Central Bank Ali Mohsin and the Governor of the Palestinian Monetary Authority Azzam Shawa have agreed on the joint cooperation between both sides in order to support the financial work and development in banking sector in both countries. The Central Bank of Iraq informed in a…

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CBI issued plan for Auction of Treasury Funds for Next 364 Days

CBI issued plan for Auction of Treasury Funds for Next 364 Days

The Iraqi Central Bank has issued its regulations and planning for the next public auction starting from June 2017 regarding the sale of treasury transfers for next 364 days beginning from 1st June 2017. The CBI also revealed the domestic borrowing plan of the Iraqi Finance Ministry for the current year. The Iraqi Central Bank has been considered a financial agent of the finance ministry and manages auctions transfers based on the law of public debt. It authorized the Iraqi…

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Iraqi Financial Reserves have Increased: Iraqi Central Bank

Iraqi Financial Reserves have Increased: Iraqi Central Bank

On Thursday, 11th May 2017, the Governor of Iraqi Central Bank issued a statement that Iraqi foreign currency reserves have increased by 49 billion U.S dollars, since it was in the year 2016. He said in his statement that the Central Bank of Iraq was able to manage and maintained the foreign currency reserves at an acceptable level by up to 70 % and according to the international standard, in spite of continuous decline in the global oil prices. The…

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Iraq will Get Senior Position in the World Meteorological Organization

Iraq will Get Senior Position in the World Meteorological Organization

The Iraqi Transport Ministry has announced that the Ministry has received a letter sent by the World Meteorological Organization including a notification to lift the ban on Iraqi membership in the organization. It would give the right to Iraq for the nomination at senior position in the organization. The Transport Ministry of Iraq issued a statement that the commission has received a message from the permanent representative of Iraq Taher Hussein (Assistant Director General of Organization) including a decision for…

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Important Meeting between Iraqi & Swiss Foreign Ministers in Geneva

Important Meeting between Iraqi & Swiss Foreign Ministers in Geneva

On Tuesday, a statement issued from the office of the Iraqi Foreign Ministry. The statement indicated that the Iraqi Foreign Minister, Ibrahim Jaafari met with the Foreign Minister of Switzerland in the meetings of Human Rights Council. These meetings held in Geneva, Switzerland. Ministers from both sides discussed bilateral relations between Iraq and Switzerland. They also discussed about ways to promote alliance within the joint cooperation framework between both countries. The statement further indicated that the Iraqi Foreign Minister said…

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Iraq May Experience Critical Financial Situation by Stopping Auction Sale at CBI: Ali Mohsin

Iraq May Experience Critical Financial Situation by Stopping Auction Sale at CBI: Ali Mohsin

The Governor of the Central Bank of Iraq stressed that closing window for selling foreign currency especially the U.S dollars. It would lead to the collapse of Iraqi dinar and create severe financial & economic situation in the country. He said in a statement regarding the annual conference of the Union of the Arab Banks held in Beirut. He said that Iraqi Central Bank is well committed to its work, though decreased the sale of foreign currency in its auction…

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Global Oil Prices Again Decreased on Tuesday

Global Oil Prices Again Decreased on Tuesday

On Tuesday, the oil prices again showed a decline. It was due to an OPEC agreement to reduce the overflowing chain of crude oil into the heavily overloaded global oil market by at least one million barrels per day. The oil prices were decreased due to Russia (non-OPEC) has confirmed that they will not send their delegation in the meeting of Organization of the Petroleum Exporting Countries taking place on Wednesday in Vienna. The Russian Minister of Energy Alexander Novak…

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CBI has Succeeded to Reduce Inflation Rate: CBI Governor

CBI has Succeeded to Reduce Inflation Rate: CBI Governor

The Governor of Iraqi Central Bank issued a statement that CBI has adopted perfect mechanisms and we have succeeded in stabilizing Iraqi dinar exchange rate and a significant amount of decrease in the inflation rate. He confirmed that CBI will achieve the highest level of financial stability and its participation to overcome financial crisis in the country. He called on private banks to adopt perfect mechanisms about dues for the treatment of farmers and contractors. He added that numbers of…

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