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  • Investors Iraq News's Avatar
    Today, 01:18 AM
    The United Nations Human Settlements Programme (UN-Habitat) welcomes an additional contribution of USD 3.6 million from the Government of Japan to support reconstruction and peacebuilding in Iraq through the rehabilitation of war-damaged houses and construction of low-cost housing units in Sinjar, Ninewa Governorate. Under the new phase of this project, UN-Habitat will improve living conditions in Sinjar through a comprehensive urban recovery approach, including (a) rehabilitation of public spaces and infrastructure, (b) construction of low-cost housing units to accommodate returnees whose houses are totally destroyed and have not received any support for rehabilitation or reconstruction of their houses, and (c) vocational training. Graduates of the vocational training will be employed for rehabilitation and construction activities implemented by UN-Habitat, which will contribute to rebuilding their livelihoods. His Excellency Mr. Hashimoto Naofumi, Ambassador of Japan to the Republic of Iraq, stated: "Japan has recently decided to provide a new assistance package for Iraq amounting to USD 41 million including this project as assistance for conflict-affected areas in Ninewa Governorate. With this package, the total amount of Japan's assistance to the people affected by the crisis reaches USD 540 million since 2014. "I hope that the assistance from the Government and people of Japan will help rebuild livelihoods of affected communities through rehabilitating community infrastructure and housing units". UN-Habitat is grateful to the people and the Government of Japan for their continuous generous support which allows integration of the New Urban Agenda and physical interventions for post-conflict reconstruction and peacebuilding. In line with the New Urban Agenda, UN-Habitat is committed to promote adequate services, accommodation and decent job opportunities for conflict-affected persons in urban settings. With a contribution of approximately $55 million since 2015, the Government of Japan has been a vital partner to UN-Habitat's Iraq Programme. (Source: Reliefweb) Source: Post your commentary below.
    0 replies | 10 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 10:05 PM
    The Finance Committee comments on the central bank’s decision to stop the flow of the dollar 04/3/2020 17:34 The Finance Committee comments on the central banks decision to stop the flow of the dollarBaghdad today _ Baghdad The Finance Committee commented, on Friday, on the Central Bank’s decision to stop the dollar from flowing into the market with the aim of floating the dinar and reducing its value, in order to fill part of the budget deficit and the needs of the government. The committee’s rapporteur, Ahmed Al-Saffar, said in an interview with (Baghdad Today) that “reading the central bank’s intention to stop the flow of the dollar and floating the dinar to fill part of the state’s budget deficit is impossible, but it may be in harmony with the current situation to compensate for the shortfall in oil revenues” . Al-Saffar added, “At the same time, the central bank may also be unintentional because of the curfew and the suspension of most life activities.” And the rapporteur of the Finance Committee in Parliament, Ahmed Al-Saffar, spoke last Sunday about the authority of the Central Bank to issue a set of decisions on withdrawing the commission of the US dollar. Ahmed Al-Saffar said, in an interview with (Baghdad Today), that “the decisions issued by the Central Bank regarding the commission of withdrawing the US dollar are considered within its powers and it is who determines the interest rate, whether by depositing or withdrawing.” Al-Saffar added, “Iraq’s revenues from selling oil go to the Ministry of Finance account at the US Federal Reserve, which the central bank has a branch in,” explaining that “the process is that the revenues are transferred to the central bank account and the bank transfers it to the Iraqi dinar to the Ministry of Finance to pay salaries.” employees”. He continued, “The process of withdrawing the dollar and depositing it is related to the policy of the central bank, which is monetary policy. The central bank has the right to raise or reduce interest rates, and this is one of the methods of monetary policy that you use.” On Sunday (March 29, 2020), the Central Bank of Iraq issued a set of decisions regarding the US dollar withdrawal commission. And included a document issued by the bank and received (Baghdad today): “The commission for withdrawing cash for the US dollar, which comes from the incoming transfers to the bank to our accounts in the American Federal Bank, as well as the transfers received to banks from other banks by a rate of seven thousand.” The bank added: “The amounts of the above remittances are transferred to banks by (75%) in cash in dollars according to the above commission, and (25%) pay Iraqi dinars at the official bank rate (1182) dinars to the dollar.” He continued: “The banks must spend the (25%) above on their remittances customers at a price of (1200) dinars / dollars, and submit their requests at the end of each month to the accounting department at the central bank for the purpose of addressing the two price differences in our accounts in Iraqi dinars.” And he continued: “Banks can spend the full amount of the transfer received in the Iraqi dinar if the customer desires to do so. He stressed, “The above mechanism does not include customer deposits in dollars in cash, where it is paid to the customer in full, but is limited to customers who receive remittances received from outside Iraq of any kind, and internal dollar transfers between their banks in our accounts.”
    1 replies | 53 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 07:28 PM
    The central bank talks about when to stop the high dollar exchange rate in Iraq Baghdad / ... The Central Bank of Iraq media revealed, on Saturday, the implementation of several steps to control the high exchange rate of the dollar in the markets, most notably the opening of outlets for sale and the strengthening of banks in hard currency. The director of media and relations at the Central Bank, Acer Jabbar, said in a press statement, "that the rise in the exchange rate of the dollar against the local currency ends this week." Jabbar said, "The Central has implemented a number of steps to control the exchange rate of the dollar," noting that "the bank will try and in any way to curb this large disparity." He expected, "This week will witness a solution to this issue related to the rise in dollar prices." The exchange rate of the dollar in the local markets during the past days increased, reaching sometimes from 126 to 128 thousand dinars per 100 dollars.
    1 replies | 60 view(s)
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