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Tishwash:
Angry demonstrations in Al-Shafi’iyya: Protests and burning tires to demand basic services
Al-Shafi’iyah district in Diwaniyah Governorate, southern Iraq, began on Monday morning with angry demonstrations that included burning tires to demand improved services.
A local source told Al-Mustaqilla that the protesters are demanding the improvement of basic services, most notably electricity, which is in severe shortage in the region.
Hundreds of citizens took to the streets to express their dissatisfaction with the deteriorating service conditions. link
An economic expert calls for canceling the currency sale window
The economic expert, Dhia Al-Mohsen, called for canceling the currency selling window, pointing out that some beneficial political blocs were behind the continuation of this window to achieve financial gains.
Al-Mohsen told Al-Maalouma, “The citizen’s interest necessitates the government to go towards canceling the currency selling window, in order to end the confusion occurring in monetary policy.”
He added, “The late former Central Bank Governor Sinan Al-Shabibi was behind opening the currency selling window for 4 years at that time in order to eliminate the inflation taking place in the country after its rate reached 50%.”
He stated that “some political blocs have financial interests that push for the continuation of the operation of the currency selling window, to make it a gateway to financial gain, despite the absence of the need for it.” link
U.S. Consulate in Erbil Renews Support for Digital Financial System: Electronic Payments Are More Secure
The U.S. Consulate General in Erbil on Sunday, July July 14, 2024, renewed its support for the digital financial system, explaining that electronic payments are the most secure process.
The US Consulate General said in a statement, seen by Kurdistan 24, that “electronic payments are a safer way to access the US dollar, as it can be traded at its official price when used while traveling abroad.”
The digital financial system will enhance access to “formal banking services such as loans, insurance, payments and savings, while reducing the risk of loss, theft and financial crime, and providing more investment channels,” the statement said.
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Washington’s consulate in Erbil stressed continued support for the U.S. government and U.S. companies “to provide an accessible financial system for all” and urged “everyone to conduct their transactions through official banking channels.”
Digital transformation is one of the top priorities of the ninth government formation of the Kurdistan Region. Therefore, the KRG through the Information Technology Department has committed to announcing and disseminating the KRG’s first digital transformation strategy, which includes the following six core strategic activities: digital governance, digital engineering, human capital, user-centered design, security and data privacy, and procurement.
The strategy is key to achieving the KRG’s vision, and its main objective is to make the KRG a hub of government digital maturity and thus one of the leading digital governments in the region by 2025. This means that it ensures that services are easily and quickly found and used by citizens. It is also designed to eliminate bureaucracy and enhance the efficiency of institutions in the public interest through the adoption of modern technology. link
Tishwash:
This was in Iraq’s news
The International Monetary Fund warns the United States of a possible decline in demand for its government bonds
The International Monetary Fund said that the United States risks facing a sudden decline in demand for its government bonds due to the authorities’ inability to restore stability in the American financial system.
“Financial stability risks could manifest themselves in the form of an unexpected decline in foreign demand for US fixed-income securities, which constitute a major component of the country’s external liabilities,” the fund’s report said.
The International Monetary Fund warned that this threat may materialize if the American authorities are unable to restore financial stability in the national economy.
According to the Fund’s forecasts, the possibility of such a risk remains moderate due to the dollar’s dominant position as a reserve currency.
US Treasury bonds first appeared when the United States decided to enter World War I and found itself in need of money to finance the war. Bonds due for payment after a certain number of years and at a specific interest rate were issued to raise money from the public and institutions. The American government has continued to obtain financing for spending and filling the budget deficit through the sale of Treasury bonds to this day, while China is considered the most important foreign owner of these bonds. link
Source: Dinar Recaps
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