Corruption A Challenge, Foreign Donors & Investors.

[Luigi1]

Luigi asks...

Could corruption in Iraq be turning away donors & inventors in Iraq?

If so...what must Abadi do to re-gain the donors & investors confidence in Iraq?

How will this impact Monetary Reform, the RV? Your opine.

 

 

1 Feb 2018  MntGoat...

Article: “AL-ABBADI RETURNED DISAPPOINTED WITH DAVOS AFTER HEARING HARSH WORDS“

Quote: “ABADI FACES A GREAT CHALLENGE IN PERSUADING FOREIGN DONORS AND INVESTORS TO WORK IN IRAQ IN LIGHT OF THE SPREAD OF CORRUPTION AND LACK OF POLITICAL AND ECONOMIC GUARANTEES“

Investors don’t want to lose their invest in Iraq by corruption. Maybe they need to move to the currency reform as this too might show sincerity in making progress in the reform direction? It is time to trigger this effort. 

[Luigi1]

here's another article related to the above...

 

2-1-2018   Newshound Guru Enorrste   Article:  "Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks"   I sense that the IMF is still in the background pushing Iraq forward slowly.  Like KAP [Guru Kaperoni]  I'm reluctant to get too excited until we see this actually implemented and deposits start to flow into the banks.
 

[Luigi1]

here's another article related to the above...

 

2-1-2018   Newshound/Intel Guru BGG  Article quote:   ”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…"   This might explain the less-than-luke-warm response Abadi got while at Davos.
 

[Luigi1]

here's another article that suggests Iraq is not ready...

 

 

3 Feb 2018  Mike...

Article:  "Washington reaffirms its support for the Iraqi economy"   Iraq's leadership just don't get it, the US is ready and chomping at the bit to get the TIFA side of the the project moving and all Iraq has to do is pass the legislation for the banks and the economy and get out of the way. But they don't and then complain about it. We're not going to: "give a signal to US companies that Iraq is open for business." It's not true, Iraq still has some heavy lifting to do before the country is open for outside investment. Property rights, business ownership, the currency, the banks and the economy are not attractive to US investment on a large scale if it doesn't pertain to oil, it's just too risky. Your move Abadi.

[Luigi1]

here's another article related to the above....

Amnesty Law allows the corrupt to go free.

 

 

4 Feb 2018  Uraq News...

Corruption in Iraq has reached unprecedented levels due to the general amnesty law that freed many corrupt officials, an official source said on Sunday.

He added that this law has crippled the war on corruption in Iraq, along with the pressures from the political factions and parties against judges to put a stop to corruption cases.

[Luigi1]

here's another article related to the above...

This article suggests Iraq has no intentions of going after the corrupt.

 

 

2-13-2018   Newshound Guru mike  Article:  "Corruption, bureaucracy and armed practices threaten 157 Iraqi projects at the donor conference"   Parliament just passed a law protecting those in government from prosecution for corruption, their timing couldn't have been worse. I realize the west doesn't want to leave Iraq vulnerable to Iran's influence, but at this point, Iraq is in Iran's back pocket, losing them to Iran has already happened. These folks can't even agree on a 2018 budget, how can they expect the world to donate billions when they can't even balance their own checkbook?  The world has stood up and done everything it can to help this country...  These guys have got to put on their big boy pants and act like they care about the country and its citizens, if they don't, the world won't. IMO.
 

[Luigi1]

here's another article related to the above...

 

16 Feb 2018  Mike...

Article: “World Bank: Iraq is not able to afford the donor debt”

So, the WB thinks that Iraq needs to address the corruption as well:

Quote: “The World Bank had recommended the Iraqi government not to borrow more loans, including soft, but the participating countries of Iraq granted sovereign loans, threatening the country ‘s wealth in the event of failure to regulate the investment process .”