Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

DinarThug

Platinum VIP
  • Content Count

    26,425
  • Joined

  • Last visited

  • Days Won

    424

Posts posted by DinarThug

  1. LINK

    Two people were arrested for forging documents for receiving bank transfers in Baghdad

     

    1029102020_c3aa7796-1ea3-4e87-b22b-d60d47da3fbe.jpg

     

    29th October, 2020


    The Federal Police Force Command announced, on Thursday, the arrest of two people with the flagrante delicto for forging official documents for the purpose of receiving bank transfers back to other citizens in Baghdad.

    The leadership said in a statement that Mawazine News received, a copy of it, that “a force from the First Division Commandos Regiment , in conjunction with the intelligence detachment, managed to arrest two people with the red flag, who committed falsification of official documents in order to receive bank transfers of other citizens.

    She added, "The initial investigations showed that the defendants committed a number of previous crimes  of forgery and fraud against citizens and banking offices in Baghdad," indicating that "the defendants were duly handed over to the competent authorities to complete the necessary legal procedures against them."

    • Thanks 1
    • Upvote 3
  2. LINK

    Exhibitions General Manager: The electronic export license is a gateway to the advancement of the Iraqi economy

     

    image.jpeg.3a31c4fdd6ce0f566a2cdd87bcf618a4.jpeg

     

    28th October, 2020


    General Manager of the Iraqi Exhibitions Company at the Ministry of Trade, Sarmad Taha Saeed, confirmed that the electronic export license is a gateway to the advancement of the Iraqi economy, as it opens the export window for its wrestlers to Iraqi exporters, which contributes to the introduction of hard currency into the country.

    Saeed said during a television interview, "According to the directives of the General Secretariat of the Council of Ministers, which stressed the need to resort to electronic governance and similar to the import permit, work has been done to issue an export license, as it was circulated to the ministries and sectors concerned and in coordination with the General Authority of Customs for the purpose of electronic connectivity. And training them in the form of meals and delivering them to the accounts of the export system."

    He added, "The process of electronic linking between the ministries and the concerned sectors contributes to limiting and eliminating administrative and financial corruption, cases of manipulation and fraud, and missing the opportunity for the weak-minded as well as reducing time and routine. He noted, "There is no objection to issuing export licenses for the type of exported material after obtaining official approvals from the sectoral authorities and the ministries of health, agriculture and industry."

    In the same context, the Director of the Export Department at the General Company for Iraqi Fairs, Maytham Al-Tamimi, confirmed that "more than (70) materials are exported abroad, and the most prominent of those materials that are exported are dates of all kinds, oil derivatives, locally manufactured food cans, leather, and others."

    • Like 2
    • Thanks 1
    • Upvote 4
  3. LINK

    Al-Kaabi: The Iraqi cybercrime law will be "the best in the world."

     

    1603890458bf646cf1491485cbafe451b2de6a46

     

    28th October, 2020


    Hassan Karim Al-Kaabi, First Deputy Speaker of Parliament, confirmed, on Wednesday, that the Anti-Cyber Crime Law, and after the major amendments that have been made to it by the House of Representatives, will be the best global law in this aspect, indicating that the Iraqi citizen will be the first and last beneficiary of it. This came during the joint workshop organized today, Wednesday, October 27, 2020, by the Parliamentary Security and Defense Committee headed by Deputy Muhammad Reda, and the presence of the advanced staff in the National Security Agency, to discuss the provisions of the draft law on combating cyber crimes.

    Al-Kaabi said, "The Presidency of the Council of Representatives, the Security and Defense Committee and all the relevant committees have been keen, for nearly a year and a half, to reformulate all the provisions of the draft law that was sent by the government at the time and was written in the form of everyone's person as not meeting the ambitions, and from here the Council began Representatives hold workshops, meetings, meetings and seminars inside and outside Iraq, in the presence of all parties, including academics, federations and trade unions, in order to listen to their opinions and include them in the law, so that it comes out in an ideal and the best international form.

    During the workshop, the most important remarks of the experts of the National Security Agency were listened to and the extent of the possibility of adding them or applying them, in preparation for starting the stage of maturing the law in its final form and including the proposals of other relevant authorities, and then including it on the agenda of the Council and voting on it during the next stage.

    • Like 2
    • Upvote 2
  4. LINK

    Temara Al-Shididi invites to invest in stocks

     

    alsabaah-51757-810x414.jpg
     

    28th October, 2020

     

    Economic specialist Temara Hussein Al-Shdidi stressed the importance of expanding the culture of shares and its role in achieving the benefit of the national economy and the investor.
     
    She added that "a large group of society does not understand anything about the reality of trading shares in the Iraqi Stock Exchange, which makes it imperative for all relevant parties to stand at this important issue and study the points of defects and diagnose them accurately, and then work seriously and effectively to develop appropriate solutions for this."  Command”.

    She pointed out that "investing in stocks is done through carefully regulated mechanisms with several options for those who wish to invest in securities, as there are brokerage companies whose role is to direct the investor towards the shares that are expected to achieve the highest interest, and this is based on the experience gained by the brokerage firms."  She pointed out that "brokerage firms always advise that the citizen invests part of his savings to invest in the shares of joint stock companies," pointing to "work to build a broad base for investment in stocks, for its positive role in economic life." 
    • Upvote 3
  5. LINK

    Representative Finance: The borrowing to secure salaries will be internal

     
    %D8%B1%D9%88%D8%A7%D8%AA%D8%A8-696x435.j
     
     
    18:22 - 10/28/2020
     

    The Parliamentary Finance Committee confirmed, on Wednesday, that borrowing will be internally from government banks and the Central Bank, attributing the matter to the existence of foreign debts on Iraq and its inability to borrow.

    A member of the Parliamentary Finance Committee, Jamal Joker, said to / the information / the committee hosted today the advanced cadre of the Ministry of Finance, including the minister, to view the details of the loan amount and the actual disbursement doors for those required numbers.

    He added that "after its amendment, Parliament will proceed to approve the law on the loan, but with an internal loan," noting that "the approval will be preceded by an inquiry from government banks and the Central Bank of Iraq, the possibility of borrowing and securing those sums or not."

    Cougar explained that "Iraq cannot borrow abroad because it has large debts, which will push it to internal borrowing."

    • Thanks 1
    • Upvote 3
  6. LINK

    Hikmat Dakkak: Developing the economy requires an attractive environment for investment

     

    alsabaah-51761-810x413.jpg
     

    28th October, 2020

     

    The deputy of the Baghdad Chamber of Commerce, Hikmat Dakkak, called for "the necessity of concerted efforts in order to create an attractive environment for international investment efforts that contribute to addressing many of the problems that confused the reality of the national economy, advancing the productive sectors and achieving a diversity of resources."
     
    Dakkak added that "Iraq has many natural resources distributed among the different regions of the country that can achieve real diversification of revenues and create a sustainable economy through a set of projects that can be established in the industrial and agricultural sectors that achieve integration in economic fields."

    Local market

    He pointed out that "the possibility of investing all of the minerals spread in various regions of the country, by the qualitative local and international investment effort to serve the local and international market," pointing out that "Iraq, with its public and private sectors, has been able to succeed in the cement industry, which now covers the needs of the local market and can go to Exports the surplus to markets Region".
     
    Industrial reality

    He explained that “the industrial sector is the most important tributary of the economy, and we have successful industrial experiences that can be employed to serve the industrial reality, as there are 73 government factories that are idle and have obligations towards a large number of employees, and modernizing the industrial system for the private sector is inevitable after the obsolescence of its laboratories. The global industrial sector has developed a lot and technology has become an effective role in promoting the industrial sector and the quality production adopted by major global economies.
     
    Specialized companies


    Dakkak warned that “specialized and large companies with international resonance within the global labor market have a great desire to enter Iraq, which is crossed by a renewed job opportunity, which requires us to work towards creating the appropriate environment to attract such an effort that left a positive echo on the reality of the national economy by moving it to a stage New, more developed and moving the country to its true place among the world economies.


    #########

    Baghdad Chamber Of Commerce Calls For Creating An Attractive Environment For International Investments  LINK

    • Thanks 1
    • Upvote 4
  7. LINK

    Mineral investment maximizes non-oil resources

     

    23866.jpg

     

    28th October, 2020

     

    The House of Representatives intends to legislate the Minerals Investment Law, in a move to maximize non-oil resources, as specialists in economic affairs saw that Iraq possesses the finest minerals in the world, but it is still not optimally exploited, calling for mineral investment in ways that enhance the state’s financial revenues

    A member of the Parliamentary Economy and Investment Committee, Representative Nada Shaker Jawdat, said in an interview with Al-Sabah, which was seen by Al-Eqtisad News, that the House of Representatives is in the process of legislating a mineral investment law that will provide an opportunity to exploit and invest minerals in Iraq

    And she added: "The mineral investment will contribute significantly to enhancing the state's financial revenues, provided that it is better exploited," calling for "the establishment of specialized factories to be invested in the process of sustainable economic development
     
    Choosing sober companies

    She pointed out, "the necessity of choosing sober international companies to invest in minerals in order to ensure the transparency of their investment, as they represent a natural wealth that belongs to the people, and it is necessary to think about how to use them to maximize financial revenues." And she continued: "The law is one of the best laws, but it needs real implementation on the ground after its approval," stressing that "the country needs to maximize its non-oil revenues, especially after the current financial crisis that hit it

    For his part, the specialist in economic affairs, Ahmed Al-Majidi, said in an interview with Al-Sabah:Minerals investment is a step towards maximizing the state’s financial resources, because the country has natural resources represented by various types of minerals such as phosphates, sulfur, mercury, cement and other potential minerals that are still Untapped
     
    Optimal investment of minerals

    He warned that "Iraq has phosphate reserves estimated at more than 11 billion tons, as well as about 650 thousand tons of sulfur," noting that global mineral prices are high compared to oil prices. He explained, "The optimal investment of these minerals through their exploration, extraction, and then exportation will bring economic benefit to the state in terms of maximizing revenues," calling for "setting up plans to better invest in minerals." He stressed"the need to search for non-oil resources in financing the general budget, such as investing minerals or gas, controlling ports, collecting taxes, customs duties and others, in order to maximize financial resources in light of the financial crisis

    For its part, the Parliamentary Economic and Investment Committee confirmed, earlier, that the Mineral Investment Law is ready to vote on it, and it is likely that the law will be passed during the coming sessions. Committee member Yahya Al-Ithawi said in a press statement: "The Mineral Investment Law is ready for voting, and it is expected to pass it during the next sessions." He added that "there are many details in this law, and we want it to be issued in a good manner, without gaps, to prevent the corrupt from entering
    through it.

    #########

    Deputy: Minerals Investment Law Legislation Will Maximize Non-Oil Resources  LINK

    %D9%86%D8%AF%D9%89-%D8%B4%D8%A7%D9%83%D8

    • Upvote 6
  8. LINK

    Parliamentary Finance: We will approve 9 trillion dinars to lend the government

     

    23544.jpg
     

    28th October  2020

     

    The Parliamentary Finance Committee announced that it would approve lending the government 9 trillion dinars, not 31 trillion dinars

    A member of the Parliamentary Finance Committee, Ahmed Mazhar, said that the Ministry of Finance needs 9 trillion dinars to cover the fiscal deficit in the coming months

    He added that 31 trillion dinars, the size of the deficit, is incorrect, explaining that the Finance Committee refuses to grant this amount to the government

    • Thanks 1
    • Upvote 4
  9. LINK

    The Financial Committee warns of the danger of going to print a new currency to cover the deficit


    image.jpeg.da5eeef44228f55ef8e01fedd3f92c75.jpeg

     

    28th October, 2020


    The Finance Committee warned, in the House of Representatives, on Wednesday, of the danger of going to print a new currency to cover the financial deficit.

    Committee reporter Ahmed Al-Saffar stated that "the committee has a host for the governor of the Central Bank during the coming days, as he was supposed to attend yesterday, Monday, but he was late due to commitments and awaiting agreement on a new date for the meeting," indicating that "the process of issuing a new cash in the economy Unproductive like Iraq will lead directly to the phenomenon of inflation."

    Al-Saffar added, "Inflation means a rise in commodity prices in the market with the loss of the local currency's value and monetary strength against hard currencies," pointing out that"those affected by this situation - if it happened - are those with limited and fixed incomes, meaning that the first affected are employees and property owners." 

    He stressed that "this monetary policy will not benefit the Iraqi economy, which is already in a financial crisis, and there are other measures within the fiscal and monetary policy that could be taken by the government to alleviate the current crisis instead of going to print the currency."  Earlier reports indicated the intention of the Central Bank to print a new currency, which the bank denied in several statements since the beginning of this year.

    • Thanks 1
    • Upvote 2
  10. LINK

    Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution

     

    %D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%

     

    28th October, 2020


    Iraq is going through a financial crisis that some consider suffocating to the most extreme levels, which was formed due to the files of corruption and the deterioration of the general economic situation in the country, which negatively affected the issue of distributing the salaries of state employees.

    The economic problem that Iraq went through during the current year worked to delay the delivery of salaries for several months, which made the Iraqi street go through a state of instability, and many voices began calling for the development of economic solutions to cross this crisis.

    Starting from the border outlets

    In June of this year, Prime Minister Mustafa Al-Kazemi pledged to carry out large-scale campaigns to restore control of the border crossings, and according to  a statement issued by his office, in which he affirmed: “We incur billions of dollars annually in losses from gangs, groups, bandits, and influential people who sometimes control Ports”. The head of the Border Ports Authority, Kazem Al-Oqabi, revealed, in press statements, that there was a waste of 8 billion dollars annually in the border crossings due to "corruption." Where the Al-Kazemi government offered the option of controlling the border crossings, one of the solutions to re-pump more money, which is estimated at billions of dollars, into the state treasury.

    Borrowing is the beginning of bankruptcy

    Many demands have begun to approve the internal and external lending law of the Iraqi government, which aims to provide an economic reform program based on improving the economic level of Iraq and restoring stability to it, and the Iraqi parliament announced last June the approval of the law with a sixty-day deadline for the Ministry of Finance and the government to present a reform program Economic by law.

    But in a previous statement to the Finance Committee of the Iraqi Council of Representatives, it said, unfortunately, we see that the government is trying to throw the ball in front of the House of Representatives and choosing between approving a loan that will soon perish and that is the bankruptcy of the country and whose results will be borne by future generations. Council approval of the borrowing law to embarrass the council and mix the papers. The committee added that the issue of securing salaries is not the responsibility of the legislative authority, but rather a purely governmental duty.

    Print more currency to solve the salary issue

    With the beginning of the current year, the issue of printing the currency began to circulate more, especially with each delay in the delivery of salaries to employees. Regarding the same matter, the bank commented in a statement that when the Ministry of Finance wants to finance spending on various spending units and salaries, it asks the Central Bank to strengthen its account with the Iraqi dinar in exchange for withdrawal. From its dollar account, no amount shall be deposited into the dinar finance account unless a corresponding withdrawal from its account is dollar.

    Yesterday, Tuesday, the official spokesman for the Iraqi Prime Minister, Ahmad Mulla Talal, confirmed that there is no intention of the Central Bank of Iraq to print a new currency, while the salaries of employees are insured. Mulla Talal also confirmed that the news that the central bank intends to print a new currency is incorrect, because the central bank’s monetary policy administration is a clear one and aims to maintain the exchange rate, stressing that “employees’ salaries are secure.

    • Upvote 4
  11. A member of Parliament reveals reasons that led to the rise in the dollar’s exchange rate

     

    138200.jpg?watermark=4&1

     

    1,404 Economie 10/28/2020 14:15 ta 


    Baghdad today - Baghdad

     

    A member of the Parliamentary Finance Committee, Naji Al-Saeedi, said today, Wednesday, that the reason for the high exchange rate of the dollar in Iraq is the printing of the new currency without a balance covering it, and this is an explicit violation of the Central Bank Law No. 56 of 2004.

    Al-Saidi said in a televised interview that (Baghdad Today), that "the reason for the high exchange rate of the dollar in Iraq is our use of the new monetary issuance or inflationary financing from exchange rate policies, as we printed a new currency and this is contrary to the Central Bank Law No. 56 of 2004, which states However, a currency is not printed if it does not have a balance to cover it, whether it is gold, bonds or cash in dollars, "indicating that" this caused an increase in the exchange rate of the dollar and hence the rise in the prices of goods imported into Iraq. "

    He added, "The beneficiaries of that are the banks involved in the window of selling the currency and you get a difference from that, meaning, for example, you buy one hundred dollars at 118 thousand Iraqi dinars, and sell at 128 thousand dinars, and here the banks get a difference, an amount of appreciation. 10,000 dinars. "

    A member of the Parliamentary Finance Committee continued, "If we have financial stability in the country, this amount of ten thousand dinars obtained by the banks can go to the budget, because the Ministry of Finance is the one who owns the dollar and sells it to the central bank who owns the banknote even if we had it." Financial stability, this rise in the dollar price leads to a reduction in the state budget deficit.

    The Iraqi Political Economic Center said, in a statement received (Baghdad Today), today, Wednesday, that "the selling price of one hundred dollars in the local markets is 125,500 and the purchase price 124,500."

    link

    • Thanks 1
    • Upvote 5
  12. CNN. Broadcasting An Iraqi Episode Of ‘Hoarders’ !
     

     

    LINK

    Baghdad trade counts the benefits of the high dollar on the Iraqi economy

    1601979749664.jpg

     

    28th October, 2020


    The head of the Baghdad Chamber of Commerce, Firas al-Hamdani, on Wednesday, considered the rise in the price of the dollar positive for the country's economy, indicating that this would withdraw cash from people's homes.

    Al-Hamdani said in an interview with Shafaq News, that "the high price of the dollar does not affect the country's economy," indicating that "the rise of the dollar by 10 to 20% will strengthen the Iraqi state budget by withdrawing surplus cash from people's homes and thereby strengthening the economy."

    He added, "We are not looking for the economy of some merchants, but rather we are looking for the nation’s economy. If there is a deliberate withdrawal or a deliberate rise in the price of the dollar against the Iraqi dinar, then it is positive for the country's economy."

    The former governor of the Central Bank of Iraq, Ali Al-Alaq, revealed in December 2015 that 77% of the Iraqi currency in circulation in the market is hoarded in residential homes, indicating that the bank will develop a plan to attract these funds for investment.

    Al-Hamdani added, "The rise in the price of the dollar will benefit the local product as well, as the local product is expensive considering that there is no real infrastructure for the Iraqi factory, and since foreign goods are competitive despite their poor quality, the rise in the dollar will lead to raising the imported goods and the local product will be able to compete for the price of the goods. "Foreign."

    It is noteworthy that the term "hoarding" means holding money and keeping it from circulation. Hoarding may be by burying money or keeping it in funds inside homes and not taking it out for circulation in the money and capital markets.

    A member of the Parliamentary Economic and Investment Committee, Mahmoud Al-Zajrawi, confirmed in an interview with Shafaq News that there are attempts to raise the exchange rate of the dollar in the Iraqi market, so that every 100 dollars has 150 thousand Iraqi dinars, noting that “manipulating exchange rates will mainly affect the simple citizen.

    The Iraqi market is witnessing a gradual rise in the exchange rates of the dollar against the Iraqi dinar. The exchange rate of the dollar today on the Kifah Stock Exchange recorded 125200 dinars per hundred dollars.

    • Upvote 7
  13. 13 hours ago, 6ly410 said:

    Communications confirms its need for World Bank support in policy-making and expertise

    https://almasalah.com/ar/news/199915/الاتصالات-تؤكد-حاجتها-لدعم-البنك-الدولي-في-مجال-رسم-السياسات-وتقديم-الخبرات

    Baghdad / Al-Masala: The Ministry of Communications announced, on Wednesday, October 28, 2020, its need to support the World Bank in the field of policy-making and providing expertise and training for Iraqi engineers and technicians in the ministry in the field of electronic digital transformation. 

    The ministry said in a statement, that "under the direct supervision of the Minister of Communications, Arkan Shihab Ahmed Al-Shaibani, the ministry held its conference on Wednesday with the World Bank, and through a television circle, in the presence of the representative of the World Bank in the Baghdad office, Wasim Al-Miqdadi." 

    The statement added, "The Director General of the Planning and Follow-up Department in the Ministry, Adam Al-Quraishi, who represented the Minister, provided a detailed explanation of the five-year plan of the Ministry of Communications, which the Ministry intends to implement during the next five years," stressing the ministry's need to support the World Bank in the field of policy-making and providing expertise And training for Iraqi engineers and technicians in the Ministry of Communications in the field of electronic digital transformation. 

    He pointed out that "the ministry does not need financial support, as the majority of the ministry's projects are long-term investment projects." 

    And he continued, "The economist in digital aspects from Washington, Jerome Beesia, and Marula Haddad, a specialist in digital infrastructure and the World Bank's coordinator for the communications sector in Iraq, expressed the World Bank's desire to support the Iraqi government's efforts to shift towards e-government and open horizons for joint cooperation with the Ministry of Communications. It is responsible for implementing the government program for the electronic digital transformation of the ministries and institutions of the Iraqi state. 

    He noted that "the meeting was attended by Director of the Directorate of Communications and Informatics Infrastructure at the Public Company for Communications and Informatics, Yasser Amer."

    Follow the obelisk 

     

    LINK

    Communications stresses its need for World Bank support in policy-making and training expertise

     
    %D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9
     
     
    18:17 - 10/28/2020
     

    Today, Wednesday, the Ministry of Communications affirmed its need to support the World Bank in the field of policy-making and to provide expertise and training for Iraqi engineers and technicians in the ministry in the field of electronic digital transformation.

    "The ministry today held its conference with the World Bank, and through a television circle, in the presence of a representative of the World Bank in the Baghdad office, Waseem Al-Miqdadi," the ministry said in a statement received by the information.

    The statement added that “the Director General of the Planning and Follow-up Department in the Ministry, Adam Al-Quraishi, deputized the minister, who in turn provided a detailed explanation of the five-year plan of the Ministry of Communications, which the Ministry intends to implement during the next five years,” stressing the ministry’s need to support the World Bank in the field of policy-making and providing expertise And training for Iraqi engineers and technicians in the Ministry of Communications in the field of electronic digital transformation. And he indicated, according to the statement, that "the ministry does not need financial support, since the majority of the ministry's projects are long-term investment projects."

    The statement continued that “an economist in digital aspects from Washington, Jerome Pezzina and Marula Haddad, a specialist in digital infrastructure and the World Bank’s coordinator for the communications sector in Iraq, expressed the World Bank’s desire to support the Iraqi government's efforts to shift towards e-government and open prospects for joint cooperation with the Ministry of Communications, which is located. It undertakes the implementation of the government program for the electronic digital transformation of the ministries and institutions of the Iraqi state.

    The statement noted that "the meeting was attended by the Director of the Directorate of Communications and Informatics Infrastructures at the General Company for Communications and Informatics, Yasser Amer."

    • Upvote 3
  14. LINK

    After the finance book ... Al-Kazemi's spokesman issues an explanation regarding salaries

    1603889517126.jpg

    On Wednesday, Ahmed Mulla Talal, spokesman for Prime Minister Mustafa Al-Kazemi, issued an explanation of the statements he made during his weekly conference regarding the borrowing law and securing the salaries of employees.

    Mulla Talal said on his Twitter account that the decline in state revenues in the past several months is not sufficient to pay off its salaries and other urgent obligations. On this basis, the government requested from Parliament additional borrowing authority to fill the financing gap until the 2021 budget presentation. "The 2021 budget will be a reform budget par excellence and based on the requirements of the white paper, and measures will be taken directly aimed at improving state revenues and controlling expenditures," he added.

    Earlier, the head of the Parliamentary Finance Committee, Haitham al-Jubouri, addressed Prime Minister Mustafa Al-Kazemi to dispense with the legislation of the fiscal deficit financing law (the borrowing law).

    Al-Jubouri said in an official letter addressed to Al-Kazemi, which was reviewed by Shafaq News Agency, in response to the statement of the government spokesman, Ahmed Mulla Talal, in the press conference yesterday, Tuesday, in which he indicated that there are solutions at the Ministry of Finance to provide cash liquidity to secure salaries in the event that a project is not voted The Fiscal Deficit Law, "Please indicate your opinion regarding dispensing with the legislation of the fiscal deficit financing law in order to focus on the desired economic reforms."

    Al-Jubouri attributed his demand to cancel the law to "the existence of the possibility to cover salaries without the need to legislate the deficit financing law, and to impose new financial burdens on the state that cast a shadow over the economic situation." Yesterday, Tuesday, the Iraqi government ruled out that parliament would reject the borrowing law, and it might even reduce the proportion of borrowing to finance the country's budget deficit.

    This came through the spokesman for the Prime Minister, Ahmed Mulla Talal, in response to the Shafaq News Agency's question in a press conference following the government’s weekly. Our correspondent asked, "What is the government’s plan to finance the deficit if Parliament refuses to pass the borrowing bill?"

    Mulla Talal replied, "I asked the same question to the Minister of Finance (Ali Allawi) during the European tour, as the minister expected Parliament to reduce the lending rate" and not reject the project entirely. He pointed out that "the government is able to secure the salaries of employees," adding that "doubling it with private revenues is very important, and the percentage of dependence on oil is very large, and this is a mistake."

    • Thanks 3
    • Upvote 2
  15. 11 hours ago, 6ly410 said:

    Today .. salaries are delayed at the Parliament table

    Wednesday 28 October 2020 195

    Today .. salaries are delayed at the Parliament table
     
      Baghdad: Shaima Rasheed 
     
    Today, Wednesday, the Parliamentary Finance Committee will host officials at the Ministry of Finance to discuss employee salaries and the borrowing law, while warning of the danger of moving towards printing a new currency to cover the financial deficit.
    Committee member Jamal Cougar told "Al-Sabah": "The delay in salaries has nothing to do with the borrowing law and the government must understand the absence of this link and we will not allow it to do so," expecting that "the loan will not exceed 15 trillion dinars as an actual need for the government." 
    He added that "the delay in paying salaries is not the responsibility of the Finance Committee, but on the contrary, there was a trend within the committee to reject the borrowing law, but there is pressure by some members towards its legislation," noting that "Iraq's debt has reached 124 billion dollars."
    Cougar indicated that the law will not go easy this time, and there will be hosting today, Wednesday, for officials in the Ministry of Finance to discuss the disbursement of employees' salaries, as well as there will be hosting of each of the Minister of Finance and figures from the Ministry of Planning, respectively, in the coming days

     

    LINK

    Today .. salaries are delayed at the Parliament table

     

    alsabaah-51823-810x414.jpg
     

    28th October, 2020

     

    Today, Wednesday, the Parliamentary Finance Committee will host officials at the Ministry of Finance to discuss employee salaries and the borrowing law, while warning of the danger of moving towards printing a new currency to cover the financial deficit.
     
    Committee member Jamal Cougar told Al-Sabah: “The delay in salaries has nothing to do with the borrowing law and the government must understand the absence of this link and we will not allow it to do so,” expecting that “the loan will not exceed 15 trillion dinars as an actual need for the government.” 
     
    He added that "the delay in paying salaries is not the responsibility of the Finance Committee. On the contrary, there was a tendency within the committee to reject the borrowing law, but there is pressure by some members towards its legislation," noting that "Iraq's debt has reached 124 billion dollars."
     

    Cougar indicated that the law will not go easy this time, and there will be hosting today, Wednesday, for officials in the Ministry of Finance to discuss the disbursement of employees' salaries, as well as there will be hosting of each of the Minister of Finance and figures from the Ministry of Planning, respectively, in the coming days. 

     

    ############

    Today .. Parliament hosts Finance Ministry officials regarding salary arrears   LINK 

    • Thanks 2
    • Upvote 2
  16. 13 hours ago, 6ly410 said:
    Malal Talal: The state's revenues are not sufficient to meet the salaries of employees in the coming months
     
    21614.jpg
    https://economy-news.net/content.php?id=22444
     
     
     
     
     

    Economy News - Baghdad

    The spokesman for the Prime Minister’s Office, Ahmed Mulla Talal, announced that the state’s revenues are insufficient to meet the salaries of employees in the coming months.

    Talal said the decline in state revenues in the past several months was insufficient to pay off its salaries and other urgent obligations. On this basis, the government requested from Parliament additional borrowing authority to fill the financing gap until the 2021 budget presentation .

    He added that the 2021 budget will be a reform budget par excellence and based on the requirements of the white paper, and measures will be taken directly aimed at improving state revenues and controlling expenditures.

     

     
    Number of observations 118   Date of addendum 10/28/2020

     

    LINK

    Malal Talal: The state's revenues are insufficient to meet the salaries of employees in the coming months

     

    21614.jpg
     

    28th October, 2020

    The spokesman for the Prime Minister’s Office, Ahmed Mulla Talal, announced that the state’s revenues are not sufficient to meet the salaries of employees in the coming months

    Talal said the decline in state revenues in the past several months was insufficient to pay off its salaries and other urgent obligations. On this basis, the government requested from Parliament additional borrowing authority to fill the financing gap until the 2021 budget presentation

    He added that the 2021 budget will be a reform budget par excellence and based on the requirements of the white paper, and measures will be taken directly aimed at improving state revenues and controlling expenditures

    ########## 

    • Thanks 3
  17. On 10/27/2020 at 6:55 PM, 6ly410 said:

    A "knockout" blow to the Iraqi dinar: currency printing in exchange for the end of the financial crisis ... What will Iraq do about "international conditions"?

    2020-10-27  Yes Iraq - Baghdad

    https://yesiraq.com/ضربة-قاضية-للدينار-العراقي-طباعة-الع/

    5bec2cd77b70e-scaled.jpg?resize=696%2C52

    The expert in economic affairs, Salam Sumaisem, confirmed that the devaluation of the Iraqi dinar will reflect negatively on the citizen and will lead to an inflationary problem as a result of a new force hitting the Iraqi economy at home as a result of the high prices of consumer foodstuffs that are in demand and this great demand will lead to higher prices.

    Sumaisem said, in statements to her, monitored by "Yes Iraq": "The government is facing a great challenge, which is to provide funds with which to pay public expenditures, and this money is necessary to provide it. Reducing the value of the dinar will provide it with that, but on the other hand it will generate inflationary pressure on the citizens, since the devaluation of the dinar will be "This will lead to a rise in the prices of consumer foodstuffs that are in demand, and this great demand will lead to a rise in prices and an inflationary problem as a result of a new force hitting the Iraqi economy at home."

    She explained that “the government is obligated to this reduction, and these changes will be in light of the state’s need for financial resources and the increasing need to pay the salaries of employees. At the same time, an austerity plan must follow that reduces the waste of the dinar and try to find a feasible way of spending so that the situation is not lost in a situation with this laxity in paying salaries.” “.

    The economic expert stressed the need to eliminate the leakage outlets represented by the aliens, the multi-salary, the mafias and the networks of corruption, stressing that without that any reform or reduction will not succeed.

     >>>>>>>>>>>>

     

     

     

    salam smeasim @SalamSmeasim

    Translated from Arabic by

    I do not expect it to be #العراق By printing the Iraqi currency #بدون_غطاء Because it would be a fatal blow to the #دينارالعراقي And this is unacceptable according to our links to #صندوق_النقد_الدولي And Lan #الدينار_العراقي Now within the currencies offered on the global stock exchanges, not like the time of the blockade, the situation is completely different.
    >>>>>>>>>>>>

     Sumaisem suggested, in her blog post about currency printing, saying: In light of the current economic variables, I do not expect Iraq to print the Iraqi currency without a cover, because the matter will be a fatal blow to the Iraqi dinar.

    And I concluded, that this is unacceptable according to our links with the International Monetary Fund and because the Iraqi dinar is now among the currencies offered on the global stock exchanges, not like the time of the siege and the world's boycott of the Iraqi government, the situation is completely different.

     

    A "knockout" blow to the Iraqi dinar: currency printing in exchange for the end of the financial crisis ... What will Iraq do about "international conditions"?


    2020-10-27
     
    5bec2cd77b70e-scaled.jpg?resize=696%2C52
     

    Yes Iraq - Baghdad

     

    The expert in economic affairs, Salam Sumaisem, confirmed that the devaluation of the Iraqi dinar will reflect negatively on the citizen and will lead to an inflationary problem as a result of a new force hitting the Iraqi economy at home as a result of the high prices of consumer foodstuffs that are in demand and this great demand will lead to higher prices.

    Sumaisem said, in statements to her, monitored by "Yes Iraq": "The government is facing a great challenge, which is to provide funds with which to pay public expenditures, and this money is necessary to provide it. Reducing the value of the dinar will provide it with that, but on the other hand it will generate inflationary pressure on the citizens, since the devaluation of the dinar will be "This will lead to a rise in the prices of consumer foodstuffs that are in demand, and this great demand will lead to a rise in prices and an inflationary problem as a result of a new force hitting the Iraqi economy at home."

    She explained that “the government is obligated to this reduction, and these changes will be in light of the state’s need for financial resources and the increasing need to pay the salaries of employees. At the same time, an austerity plan must follow that reduces the waste of the dinar and try to find a feasible way of spending so that the situation is not lost in a situation with this laxity in paying salaries.” “.

    The economic expert stressed the need to eliminate the leakage outlets represented by the aliens, the multi-salary, the mafias and the networks of corruption, stressing that without that any reform or reduction will not succeed.

     >>>>>>>>>>>>

    salam smeasim د. سلام سميسم
     
    @SalamSmeasim
     
    لا اتوقع ان يقوم #العراق بطباعة العملة العراقية #بدون_غطاء لان الامر سيكون ضربة قاضية لل #دينارالعراقي و هذا امر مرفوض وفق ارتباطاتنا ب #صندوق_النقد_الدولي ولان #الدينار_العراقي الان ضمن العملات المطروحة في البورصات العالمية و ليس كوقت الحصار ، الوضع مختلف تماما.
    Translated from Arabic by
    I do not expect it to be #العراق By printing the Iraqi currency #بدون_غطاء Because it would be a fatal blow to the #دينارالعراقي And this is unacceptable according to our links to #صندوق_النقد_الدولي And Lan #الدينار_العراقي Now within the currencies offered on the global stock exchanges, not like the time of the blockade, the situation is completely different.
    >>>>>>>>>>>>

     

    Sumaisem suggested, in her blog post about currency printing, saying: In light of the current economic variables, I do not expect Iraq to print the Iraqi currency without a cover, because the matter will be a fatal blow to the Iraqi dinar.

    And I concluded, that this is unacceptable according to our links with the International Monetary Fund and because the Iraqi dinar is now among the currencies offered on the global stock exchanges, not like the time of the siege and the world's boycott of the Iraqi government, the situation is completely different.

    link 

    • Like 1
    • Upvote 4
  18. Sunday 28th September 2020


    The frozen dollar: a thriving money laundering business

    5f7187dad4636.jpg
     
     
    558 
     
     

    Spread on various social networking sites propaganda leaflets for many unknown people promoting the sale of dollars (anonymous), most of the time half or a third of the real price of the dollar is placed on them, so that every $ 100 is sold for $ 50 or less !, or I buy $ 10 thousand at a value Only 5 thousand dollars! Do these dollars have a specific source? Why are they sold at half their real value? And who is behind promoting this trade?

    The frozen dollar

    The term "frozen dollar" appeared for the first time during the second Gulf War, after Saddam Hussein's army invaded into Kuwaiti territory, millions of dollars were seized from Kuwaiti banks, and in order to prevent the circulation of stolen dollars, their serial numbers were frozen by Western financial systems, which means preventing their circulation In any of the government banks due to the fact that it lacks its real value in the commercial markets, the frozen dollar is not considered counterfeit at all, just like any other dollar, and it cannot be separated from the correct dollar, except that it is not working for a period, and it is not spent in official banks, so it is pumped into the black market By virtue of the lack of awareness of the exchange owners of these frozen numbers, which means that the fraud and fraud operations through it may be very easy, but not every green paper can be a dollar, so it is completely different from a sound dollar, and the process of buying and trading it may be a participation in the laundering and re-circulation of that money .

    Brokers and gangs

    Gangs and large networks of money laundering and returning the value of what was stolen from the banks, millions of dollars were stolen from the conflict areas, to reach the pockets of the Arabs in one of the largest operations of fraud and fraud, so no one will be able to officially enter these currencies into government banks, and to re-exchange them must enter illegally Legally, they are not fraudulent or 100% valid, but no one can buy them anything except through the black market!

    To exchange this frozen dollar, specialized brokers are deployed for this purpose in Turkey, Jordan, Iraq, Libya, Syria and other Arab countries in which the global financial digital system is somewhat weak, which facilitates the process of trading these currencies, fraud and fraud through them with great ease.

    What is its source?

    The sources of the frozen dollar are many, but the most widespread in the Arab world comes from the conflict areas in the region, and according to economic analysts, Libya is the most prominent source of the frozen dollar. With the fall of Muammar Gaddafi's regime in Libya after the revolution that toppled his regime in 2011, former US President Barak signed Obama ordered an executive order to freeze all the assets of Gaddafi and his family, in addition to senior figures in the Libyan government at the time and with them the Central Bank and the country's sovereign wealth funds, which led to the accumulation of millions of dollars in the Libyan treasury, and with the deterioration of the security situation in the country, these funds were smuggled into a number of countries Arabia to be discharged at less than its real price.

    While some of that money goes back to Iraqi banks, after the US invasion of the country in 2003, when large quantities of dollars were stolen from government banks, which in turn informed Washington in order to freeze them so that no one would benefit from being spent or entered into second bank accounts, in addition to Moreover, some specialized sites mention that some of that money comes from Iran and Venezuela, which are subject to the US administration's sanctions, and huge accounts have been frozen with them, which led to the accumulation of large amounts of frozen dollars.

    The capital of the frozen dollar

    The capital of the Turkish state, Istanbul, has turned into the capital of the frozen dollar in the world, where the sale of those dollars flourishes for many years, after it was the seat of stolen Iraqi funds and other countries of conflict, and with the outbreak of tension in Libya and Turkey's intervention in the Libyan scene and after its transformation into an ally of the Government of National Accord Affiliated with the Muslim Brotherhood, that trade flourished strongly in the Turkish capital, especially after the economic crisis that struck the country recently, and some sources from Libya mention that after the economic crisis that struck Turkey this year, which led to the contraction of the Turkish economy by 9,9% in the second quarter of this year and the collapse of the Turkish currency in a big way, some Turkish businessmen tended to transfer large amounts of money from Libya, but that money was frozen before it reached Turkish territory, it turned it into money without a real value for it, and instead of pumping it into The Turkish Central Bank was pumped into the black market to dubbed Istanbul after that as the fridge of Libya's money, turning it into a thriving market for Libyan funds, amid a great government's neglect of buying and selling operations, so is all this done under the supervision of the Turkish government? Or is it unable to control this flourishing trade? .

    Iraq and money laundering

    Despite the warnings of the Central Bank of Iraq to prevent the circulation of the frozen dollar on the black market, the weak souls of unknown persons may be supported by merchants who continue to publish ads on social networking sites to encourage people to buy these dollars at a price less than their real value, and because Iraq is considered one of the Countries that suffer from crimes of money laundering and cross-border currency smuggling, and gangs are involved in this, taking advantage of the rampant rampant financial corruption, to put their goods on the Iraqi exchange market. Will this money be controlled in Iraq and its promoters and workers held accountable?

    * The Future Center for Strategic Studies / 2001-2020
    http://mcsr.net

    LINK

    • Thanks 4
    • Upvote 3
  19. Wednesday 15 October 2020


    The current financial situation and the call to reduce the exchange rates

    5f87fc952037e.jpg
     
     

    The economic file in Iraq did not receive appropriate attention throughout the years following the year 2003, as the oil sector monopolized the engine of growth and economic stability in the country during the past years in the absence of serious government policies to diversify the national economy.

    The successive Iraqi governments have been keen to maintain the pattern of growth related to oil despite the risks of mortgaging the national economy to the boom and bust cycles that the oil markets are constantly witnessing. Despite the severity of the crises that affected the Iraqi economy as a result of fluctuating global oil prices, the most recent of which was the 2014 crisis and the collapse of prices to less than (25) dollars per barrel, but the implementation of economic reform policies remained far from the circles of interest in the corridors of decision-making in order to preserve the interests of the political system holding power and resources in Iraq.

    In 2020 as is the year 2015 and 2014, oil prices fell sharply, leading all economic sectors towards economic recession due to the fact that the budget and the economy are linked to the oil resource significantly. In light of the unjustified inflation of public spending in recent years, the recent decline was more damaging to the economy due to the exacerbation of the public budget deficit, which is estimated in the 2020 budget of more than (81) trillion dinars compared to (27) trillion dinars, a deficit planned in 2019.

    As a result of the Corona pandemic and the large closure it imposed on most advanced and emerging economies, oil prices fell sharply, approaching $ 20 last April. Despite the relative recovery of prices and reaching a barrier of (40) dollars during the past weeks, the reduction of Iraqi oil exports by more than one million barrels per day, in compliance with the OPEC Plus agreement to control production, did not significantly improve the Iraqi oil revenues, which remained ranging around (3) billion dollars until Last September, compared to (6) billion dollars achieved in January of this year.

    The current financial crisis in Iraq is a reflection of the weakness of reform policies and economic diversification, and the consequent serious distortion of the right of the public budget in both its revenue and spending levels during the years following the year 2003. On the revenue side, the excessive dependence on oil undermined the chances of stabilizing government revenues, especially with the weak government efforts in Maximizing and mobilizing non-oil revenues and the acquisition of oil for more than 90% of government revenues. As for government expenditures, they continued to balloon outside the limits of the government's financial ability, without achieving significant returns in investment, services and infrastructure. Operating expenses increased in favor of unjustified government employment policies and unjustified consumption expenditures.

    With regard to the current financial situation in Iraq, the figures of the Ministry of Finance indicate that Iraq has achieved total revenues of approximately (53) trillion dinars, of which (33) trillion dinars are oil and non-oil revenues, in addition to the revolving balance from the year 2019 to 2020 of (5) trillion dinars and a loan The Ministry of Finance, according to the Internal and External Borrowing Law No. (5) of 2020, amounting to (14.5) trillion dinars. Whereas, financing expenditures for the same period amounted to approximately (51) trillion dinars allocated to salaries, retirement, social protection network, debt premiums, interest, ration card, wheat, operational expenses for security departments, presidencies, health departments, medicines ... etc. An amount of (380) billion dinars for investment projects, according to work achievements. Thus, the remaining amount is approximately 1.8 trillion dinars until mid-September.

    Iraq has not had the opportunity to establish stabilization funds capable of absorbing shocks in the oil market and bridging the financing gap, as is the case in the Arab Gulf states. This makes the options for financing public spending in Iraqi dinars limited to the value of crude oil sales to the central bank, and non-oil revenues such as taxes, fees, corporate profits, and sales of government assets and property, which annually cover no more than (3%) of total public spending. And finally, internal loans from the banking system, which are re-deducted with the central bank, so that the latter would indirectly finance the federal government’s debts, given the inability of the Central Bank, according to its law (56 of 2004), to directly finance government loans.

    Despite the shortcomings of borrowing in general, the financial and economic situation in the country makes it imperative for the government to adopt an expansionary fiscal policy partly funded by internal public borrowing to compensate for the economic recession caused by the decline in oil prices and the Corona pandemic in most economic sectors in the country. Especially with the increase in unemployment rates as a result of the decline in public and private investment projects and the shrinking of private sector activity, which increases the role of government spending (salaries and government purchases) in continuously moving the productive and service sectors.

    In recent times, the option of reducing the value of the Iraqi dinar has been proposed to achieve financial goals (maximizing government revenues) and economic goals (supporting the national product). In fact, all these calls fail to realize the naturalness of the economic, financial and social costs resulting from this policy in comparison to the returns that may be realized. Resorting to lowering the Iraqi dinar to finance the financial resources gap is not an appropriate option at the present time, and for several reasons, the most important of which are:

    1- Weak government revenues generated from this option, estimated at (600 billion dinars) per month, if the exchange rate of the dinar is reduced to (1500) dinars against the dollar instead of (1182) dinars against the current prevailing dollar.

    2- The high exchange rate of the dollar in a country that depends on imports to feed the domestic demand for various types of goods and services means generating spiral inflationary pressures that erode the cash incomes of the middle classes and seriously crush the poor classes.

    3- The central bank’s foreign dollar reserves are still within comfortable ranges ($ 53 billion), which makes the domestic borrowing policy possible even with the widening gap between the Ministry of Finance’s sales to the central bank and the latter’s sales of the dollar to the private sector.

    4- The devaluation of the Iraqi dinar at this stage cannot be considered a necessity to raise the capacity of the national product for several reasons, the most important of which is the lack of productive capacities and national goods capable of competing in international markets for the purpose of supporting them by reducing the exchange rate.

    5- It is very likely that the procedure to reduce the value of the Iraqi dinar will lead to strong speculation on the dinar by transferring the cash balances (hoarded and saved) from the dinar to the dollar in order to preserve the real value of those assets, which leads to an increase in the demand for the dollar and the transformation of local exchange systems towards dollarization, as happened. In Lebanon.

    * Researcher at the Al Furat Center for Development and Strategic Studies / 2004-2020
    http://www.fcdrs.com

    LINK

    • Thanks 1
    • Upvote 2
  20. Central Bank of Iraq: Returning Iranian funds to Iraq "is not possible"

     
    Economy  ,   2020/10/23 19:12  
     
     

    image.jpeg.725ea81ac55aeba24737e9d4476df4ef.jpeg

     

    Baghdad - Iraq today:

     

    The director of the media office of the Central Bank of Iraq, Yasser Jabbar Aflouk, said that officials in the Iranian banking sector had visited Iraq, accompanied by a representative from the Iranian government, and had asked Iraq to transfer Iranian money in Iraq into the Iraqi dinar and return it to Iran, but officials of the Iraqi Central Bank said explicitly that “ The money will not enter Iran directly. "

    The Iraqi official’s statements come days after the visit of Abdel Nasser Hemmati, head of the Iranian Central Bank, to Iraq and the announcement of the imminent return of nearly $ 5 billion of Iranian funds frozen in Iraq against the backdrop of US sanctions imposed on the Iranian banking sector.

    Yasser Jabbar Aflouk added that, before the US sanctions were imposed on it, Iran used to take the money it obtained from trade with Iraq in the form of dollars and take it from Iraqi banks.

    It seems that the recent US sanctions have closed the limited financial outlets that existed between Iran and Iraq, which further exacerbates the economic situation of Iran, as Tehran viewed Baghdad at this stage as the lung it breathed from and the only way to obtain foreign exchange.

    The Iranian government and the Central Bank have been trying for some time to recover Iran's frozen funds in Iraq, and it has tried to do so through Iraqi government banks, as well as non-governmental banks, and even with the help of Iranian banks in Iraq, but the director of the media office of the Central Bank of Iraq, Yasir Jabbar Aflouk, said in this context that This is not possible.

    The Iraqi official emphasized that the Iraqi Trade Bank (TBI) is the only institution that can make a decision regarding Iranian funds in Iraq, however, this bank should also seek permission from the central bank that has restricted its activity with Tehran due to US sanctions.

    link

     

    • Upvote 4
  21. LINK

    Iraqis mock the formation of an international financial alliance: Iraqi competencies are deliberately disabled

     

    3429.jpg

     

    23rd October, 2020

     

    A number of Iraqis mocked the formation of an international financial coalition to support Iraq in the current financial crisisdue to resorting to foreign competencies and not relying on Iraqi competencies

    And announced yesterday in London, the establishment of an international financial alliance under the name “Economic Contact Group that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to confront the stifling financial crisis. The financial alliance will aim to stimulate international support for an urgent economic reform program that will last for 3 years and at a cost of 6 million pound. And providing global expertise to achieve economic growth and providing international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes to drive growth

     The International Financial Alliance to support Iraq includes: America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq it includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee

    An economics professor at Basra University, Nabil Al-Marsoumi, said that the establishment of this alliance means the ineffectiveness of the advisory body in the Council of Ministers and the economic teams in the Ministries of Finance and Planning and its inability to find effective solutions to the current financial crisis and the Iraqi government having to contract with foreign authorities to import solutions like other commodities. Which we import from abroad despite the government's release of its white paper, which it sees as an important reform recipe to alter the paths of the Iraqi economy

    On the other hand, the economist, Dr. Maytham Laibi said, the Al-Kazemi project is an international American project, unfortunately, not a national project, and it is a project against the Iranian threat, explaining economically Al-Kazemi presented his reform paper, which is a paper of international institutions subject to its requirements, and a paper that needs financial support that can be it is obtained from an international coalition established for this purpose by agreement of a group of superpowers and their institutions, according to a medium-term schedule of 3-5 years.  He explained, "The man (Al-Kazemi) is planning to stay, and he will remain dependent on the opponents’ plans in the coming months, which could be plotted against him in order to bring him down

    Laibi expected that the economic reform will continue without "tangible" changes in the exchange rate or "sharp" deductions for employees' salaries ... as these sharp and tangible changes could undermine the stability required to implement the reform package

    • Upvote 3
  22. LINK

    Al-Kazemi, walking on a rope between two buildings, dances with snakes, looking for a pipe

    1603443985758.jpg

     

    23rd October, 2020


    The Iraqi Prime Minister, Mustafa Al-Kazimi, confirmed that he is forced to achieve an impossible balance between the United States and Iran, indicating, "I dance daily with snakes, but I am looking for a flute to control them."

    Al-Kazemi's interview came in an interview with the British newspaper "The Guardian". Al-Kazemi was appointed prime minister, a former British citizen and journalist - after unprecedented protests, and since then he has governed a program to hold early elections, improve security, and prevent the collapse of Iraq's oil-dependent economy. In a press briefing after his meeting with British Prime Minister Boris Johnson, he pledged that elections in Iraq would take place on June 6, saying that "the election date is indisputable, and we are committed to it."

    A thousand years of debate

    Some accuse Al-Kazemi of moving with extreme caution, but he told reporters that patience is better than being drawn into bloody chaos and civil war, adding, "A thousand years of discussion is better than a moment of exchange of fire."

    According to the Guardian, Al-Kazemi is trying to walk a compromise between the United States and Iran, saying: "I am on a rope between two tall buildings. I am not required to walk on a rope, but to ride a bicycle on the rope. I dance daily with snakes but I am looking for a flute to control snakes." 

    Fears that Iraq would become the scene of a military confrontation between the United States and Iran before the US presidential elections increased when Washington slowly reduced its 5,000 troops in Iraq, and last month threatened to close its embassy unless the Iraqi government curbed militias loyal to Iran. But the militias promised a ceasefire if a timetable for the withdrawal of US forces appeared.

    Al-Kazemi said that he was in the process of sensitive negotiations regarding further withdrawals of US forces, and the conditions for their redeployment after the US elections.  He added, "Everyone is looking for an opportunity for dialogue. We are looking for an opportunity to overcome this sensitive issue and its repercussions, whoever is in the White House." Despite this, he noted that ISIS remains a daily threat to Iraq. At the same time, he pledged to bring Iran-backed militias under control, telling reporters, "No weapons outside the control of the state will be allowed."

    The Guardian referred to what Iraq witnessed last Saturday, “when loyalists of the Popular Mobilization factions, backed by Iran, burned the headquarters of the Kurdistan Democratic Party in central Baghdad. At least eight citizens in Salah al-Din governorate were subjected to field executions at the hands of militias loyal to Iran, as well. Alleged."

    The British newspaper added, "It remains to be seen whether its security forces can put militias, such as Asa'ib Ahl al-Haq, under control, or whether state control will be just talk." Al-Kazemi believes that the lack of jobs, poor health services and corruption are what drives young people to militancy, adding that other countries such as Colombia have found a way to deal with militant groups.  Since coming to power, Al-Kazemi has published the White Paper that aims to reduce public wages from 25 percent of GDP to 12 percent. He added that the country's political class has become lazy through its dependence on oil.  During his tour in France, Germany and the United Kingdom, he described the white paper as a signal to foreign investors that he had a serious plan of three to five years to train Iraq not to be overly dependent on oil.

    • Haha 1
    • Upvote 4
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.