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A government delegation of 16 Iraqi officials heads to Turkey to resolve 3 files related to trade and the dollar - urgent Economy | Today, 19:31 | A government delegation of 16 Iraqi officials heads to Turkey to resolve 3 files related to trade and the dollar - Urgent » Baghdad Today News Agency Baghdad Today - Baghdad Today, Sunday (November 26, 2023), a government source reported that a delegation of Iraqi financial officials and bank managers will head to Turkey tomorrow, Monday, to resolve 3 files related to trade exchange, open correspondent accounts for Iraqi banks, and facilitate the use of credit cards for Iraqi residents and tourists. The source told "Baghdad Today", that "based on the directives of the Prime Minister regarding the organization of trade exchange between Iraq and Turkey and its stability in the approved legal and banking ways and means, and to complement the first round of talks that took place in Baghdad on Wednesday 15/11/2013, a delegation will leave at dawn tomorrow, Monday, a delegation that includes the financial adviser to the Prime Minister, three officials of the Central Bank of Iraq and managers of 12 Iraqi banks to hold talks with a number of Turkish financial and banking institutions, including the Central Bank of Turkey and the banks in addition to the Turkish Banking Regulation and Supervision Agency." He added that "the discussions will focus on a number of topics, including discussions with Turkish banks for the purpose of opening correspondent accounts for Iraqi banks and in various foreign currencies to be used in account settlements between the two countries and solving all obstacles facing the two parties in the implementation of this process, and discussing facilitating the use of credit cards for Iraqi residents and tourists in the Turkish banking market." He continued, "The organization of trade exchange between the two countries will also be discussed through the Turkish and Iraqi customs authorities matching the goods supplied to Iraq with the financial transfer documents through the window of buying and selling foreign currency in a way that protects the interests and stability of trade between the two countries." He pointed out that "it is hoped that the above talks will result in the signing of a number of agreements on banking arrangements between the two countries, which will contribute to containing the demand for cash dollars through the irregular market for foreign currencies."

Fears for the dinar. What is the benefit of importing dollars from outside Iraq? economy Ultra Iraq 25-November-2023 THE CENTRAL BANK ALLOWED BANKS TO IMPORT DOLLARS FROM OUTSIDE IRAQ (ULTRA IRAQ) Controversy continues in economic circles after the decision of the Central Bank of Iraq to import dollars from outside Iraq according to certain controls, and the purpose of this decision and the possible benefits, in light of the continuing dollar crisis with measures to restrict its circulation outside government platforms. On November 8th, the central bankallowed Iraqi banks to "import foreign currency" for the purpose of "meeting the demands of companies, organizations, bodies and individuals working for foreign companies or institutions" by importing them from "exclusively through air ports" in an attempt to control the dollar crisis in Iraq. Immediately after that announcement, leaks circulated by the state news agency, quoting sources who did not indicate their job or the entity they work for, starting with "intensive meetings between a delegation from the Central Bank of Iraq and theAmerican side responsible for foreign remittances to cover imports" in the UAE city of Abu Dhabi, which concluded with several decisions, including "an agreement to strengthen the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and remittances through (JPMorgan)." Then I talked about an agreement on five more through Citi bank." Is there any point in importing dollars? The Central Bank's decision to import dollars from outside Iraq came in the context of the rise in the exchange rate of the dollar against the dinar in the local markets, until it reached a few days ago to 167 thousand dinars per 100 dollars, compared to the official rate that was set at 132 thousand dinars per 100 dollars, before declining to 160 thousand at the present time. Ahmed Saddam, a professor of economics at Basra University, said, "The central bank's decision to allow the import of dollars aims to raise the level of supply of dollars from sources outside the framework of the central bank in a new attempt to reduce the exchange rate of the dollar in the parallel market." As for the results of importing dollars at the practical level, Saddam ruled out that the decision will achieve "tangible benefit," and the main reason, according to him, is that "most countries of the world impose restrictions on the exit of dollars from their markets, as Iraq is trying to do." The economist, in an interview with "Ultra Iraq", raises a second question in this regard, through questions such as: "In what currency will this dollar be bought? Will it be done in Iraqi currency?" He goes on to say: "The Iraqi currency is not accepted in most countries except Iran, which does not allow the sale of dollars at all because of their urgent need for it, as is known." Saddam continues: "Do Iraqi banks have currencies for other countries to be exchanged for dollars?" He answers: "If we assume that Iraqi banks own the currencies of other countries, this procedure will be temporary by virtue of the exhaustion of existing foreign currencies for the purpose of buying dollars in the short term." Indeed, the "sources" talked among the news quoted by the official agency' about meetings between "one of the UAE banks, the Central Bank of Iraq and the American side, to implement the mechanism for enhancing the balances in UAE dirhams for Iraqi banks (UAE Dirham pilot)", as well as "negotiations to enhance the balances of some Iraqi banks in euros with UBAF Bank to finance trade with the European Union", as well as "increasing the number of banks whose balances are strengthened in Chinese yuan through the Singapore Development Bank", and "starting to open bank accounts in rupees". Indian for a number of Iraqi banks in the same correspondent Singapore Development Bank." Economics professor Ahmed Saddam concludes by saying that "the central bank's decision is difficult to achieve on the ground, and perhaps it can be implemented for a limited period by banks that own other foreign currencies," but all these measures "will not contribute to reducing the exchange rate of the dollar due to the state of high dependence on the dollar in foreign trade dealings with the restrictions of the US Federal Reserve, speculation, and smuggling operations that cannot be solved by importing dollars." The central bank is not an intermediary! On November 15, 2023, a "government source" quoted a "government source" as saying that official approvals had been issued by the Central Bank "to three Iraqi private banks to import US dollars to meet their customers' need for this currency and in amounts of up to $100 million." The Central Bank's approach is not a new measure, says Abdul Rahman al-Sheikhli, advisor to the Iraqi Banks Association, as it was "previously implemented in 2010 under the guidance of the Central Bank," but what is new now, according to al-Sheikhli, is that "the decision was issued based on the desire of traders in order to meet the needs of the local market." The banking expert believes in an interview with "Ultra Iraq" that the Central Bank "will not be an intermediary in the process of importing dollars, but banks are the ones who will play this role in their relations with banks outside Iraq by relying on their dollar stocks." The central bank's exit from the mediation process comes despite its official statements rejecting the existence of the "parallel market" on the grounds that it is the only source of dollars in the country.

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The government's financial adviser reviews the benefits of the decision to "liberalize the selling price of the dollar" in banking Economy | Today, 21:53 | Government Financial Advisor reviews the benefits of the decision to "liberalize the selling price of the dollar" in exchanges » Baghdad News Agency Today (baghdadtoday.news) Baghdad Today - Baghdad The Financial Advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Thursday (November 23, 2023) that the decision of the Central Bank circular today regarding the trading of the dollar from outside the platform according to supply and demand, will provide high flexibility in supply that contributes to the stability of the market. Saleh told the official news agency, followed by "Baghdad Today" that "liberalizing the sale and purchase of foreign exchange is not a substitute for the policy of defending price stability and the government's plan to intervene in the stability of the general level of prices." The Central Bank of Iraq had issued circulars to the licensed banks regarding their share and the sale of dollars to citizens at the official rate yesterday, Wednesday, as it confirmed that its circular No. 463/3/9 on 2023/8/17, paragraph (first) of it, that the official price for selling the cash dollar to the final beneficiary of the citizen, amounting to (1320) dinars / dollars, goes to the cash share received by banks and exchange companies and mediating the sale and purchase of foreign currency directly from this bank / the window of buying and selling foreign currency and must be adhered to and sold in accordance with Instructions communicated to you Otherwise, the price is subject to the forces of supply and demand in the market. The adviser to the prime minister added that "families and natural and legal persons in Iraq hoard cash amounts in foreign currency and outside the banking system estimated at billions of dollars and are subject to two phenomena: the first is the difficulty of disposing of their circulation outside the laws of supply and demand that make the current free exchange rate due to deterrent legal controls, and the second is the contraction of a large money supply of liquid foreign currency, which stops moving in the form of rigid cash hoarding and outside the circle of supply." "This exacerbates exchange rate fluctuations under the influence of (the foreign currency liquidity trap due to expected positive wealth due to the appreciation of foreign exchange against the local)," he said. He added, "Therefore, liberalizing the climate of dealing with foreign currency and making it white will provide high flexibility in supply that contributes to reducing the noise of the secondary exchange market, which provides a flexible supply of foreign exchange that leads to market stability, supported by a government policy that provides a commodity offer through the official rate of high stability and financed at an exchange rate of 1320 dinars per dollar." The Central Bank of Iraq's statement on Wednesday, that the dollar exchange rates are subject to "the forces of supply and demand in the market", raised several questions by economists about the reasons that prompted the governor to issue a decision that was considered yesterday an "economic crime" in which the accused is imprisoned under the penalty of the Penal Code in force against speculators in exchange rates. What economists pointed out is that all the measures taken in cooperation with the US side nearly two years ago have become in the wind with the return of the currency auction in a "parallel" manner, which is an implicit recognition of the existence of a "parallel market" that imposes itself on the Iraqi economy and controls it, and there is no point in preventing it. Economist Nabil al-Marsoumi commented on the move, sarcastically, "The militarization of the dollar ended, after the central bank recognized the existence of the parallel market!!." On the other hand, economists described the Central Bank's action by saying that the bank was finally convinced of the futility of preventing parallel markets, and allows exchange in the dollar currency according to supply and demand, considering that "this step is good and will enhance the stability of the markets." The matter led to several questions raised by observers, about how the Central Bank will ensure that the dollar does not go to prohibited channels, and whether this means that the Central Bank will retreat from the step to prevent the delivery of remittances in dollars to citizens, and whether the circulation of the dollar will become available and not be pursued and any exchange can sell the dollar to anyone wishing to buy the dollar, as well as whether it will enhance the stability of the markets, especially since cash from the dollar will become available, which may lead to Balance of supply and demand and thus lower prices.

Advisor to the Prime Minister: The Central Bank's circular on dollar trading will contribute to market stability Today, 21:05 Baghdad - The financial adviser to the Prime Minister, Mazhar Muhammad Saleh, explained on Thursday the objective of the Central Bank's circular today regarding the trading of the dollar from outside the platform according to supply and demand, noting that it will provide high flexibility in supply that contributes to the stability of the market. Saleh told the Iraqi News Agency (INA): "The liberalization of foreign exchange buying and selling is not an alternative to the policy of defending price stability and the government's plan to intervene in the stability of the general level of prices." He added, "Families and natural and legal persons in Iraq hoard cash amounts in foreign currency and outside the banking system estimated at billions of dollars and are subject to two phenomena, the first: the difficulty of disposing of their circulation outside the laws of supply and demand that make the free exchange rate currently due to deterrent legal controls, and the second is the contraction of a large money supply of liquid foreign currency, which stops moving in the form of hoarding cash rigid movement and outside the circle of supply." "This exacerbates exchange rate fluctuations under the influence of (the foreign currency liquidity trap due to expected positive wealth due to the appreciation of foreign exchange against the local)," he said. He added, "Therefore, liberalizing the climate of dealing with foreign currency and making it white will provide high flexibility in supply that contributes to reducing the noise of the secondary exchange market, which provides a flexible supply of foreign exchange that leads to market stability, supported by a government policy that provides a commodity offer through the official rate of high stability and financed at an exchange rate of 1320 dinars per dollar."

The salaries of the region's employees will be settled in the federal banks next year. What does that mean? Economy | Today, 20:36 | The salaries of the region's employees will be settled in the federal banks next year. What does that mean? » Baghdad News Agency (baghdadtoday.news) Baghdad Today - Kurdistan Today, Thursday (November 23, 2023), a member of the Parliamentary Finance Committee in the Iraqi parliament, Jamal Kojar, revealed the details of the process of localizing the salaries of Kurdistan employees in federal banks. Kojar said in an interview with "Baghdad Today" that "an official letter signed by the Prime Minister in which he confirmed that there is no objection to settling the salaries of the region's employees in banks and federal banks, provided that the Kurdistan government submits a full draft in which details in numbers about the region's employees." He added that "this step will come into effect next year, and does not involve any excess or reduction of the powers of the regional government, on the contrary, it will solve a major crisis that the government suffers from in Kurdistan, and also end the economic crisis of the Kurdish citizen." "This step is excellent, according to which employees in the region will receive their monthly salary through the MasterCard system, like the rest of the employees in Basra, Ninawa, Anbar and other provinces, on a regular basis without delay," he said. "The next step requires the approval of the federal government to secure a new loan for the Kurdistan government under which the issue of the salary of the remaining three months of this year, which was not received by the employee in the region, will be resolved," he said. "The step of localizing salaries is very important and is credited to Prime Minister Mohammed Shia al-Sudani, and the Kurdish street will react to it because it will save it from a stifling economic crisis," he said. Meanwhile, economist Nasser al-Kinani blamed the federal government and the Kurdistan Regional Government for the impact on the payment of salaries of employees in the region due to political differences. Al-Kinani said in a previous interview with "Baghdad Today" that "politicians in Baghdad and the region must solve the problem of the salaries of the region's employees, surprising from the commitment of the regional government to pay the salaries of employees through it." He revealed that "there are space employees in the payrolls of the Kurdistan region, and a census must be conducted, lists of employees must be prepared and a salary scale must be developed to settle the controversy." The Council of Ministers had approved in mid-September, sending three payments to Kurdistan to pay salaries to employees in the region at a rate of 700 billion dinars for each payment, with a total of more than 2 trillion dinars. The regional government has distributed the first payment during the current month as salaries for the month of July, while it is hoped that the salaries of the remaining months will gradually reach until the end of the year. Earlier, a member of the Finance Committee in the House of Representatives, Nermine Maarouf, said in press statements: "We have a big problem in the lists of the number of employees in the Kurdistan region, because the last list was approved by the federal government, was in 2013, and after this date, due to cutting the region's budget, these lists were not updated." She explained that, "There are real forms in the issue of paying the salaries of salary recipients in the Kurdistan region directly, because the figures adopted by Baghdad on the number of employees in the Kurdistan region date back to 2013. These figures were not updated during the years after 2013, because the federal government cut off the region's share of the general budget, and the regional government relied on itself to manage its financial affairs after adopting the policy of an independent economy, so there was no need to provide Baghdad with lists of the number of its employees, during the approval of other budgets after this date. She explained that "the last figure that the federal government has officially and approved is 659,<> employees, so there is a vast difference between the number in the federal government and the number provided by the region, which far exceeds this number." "In addition to this problem, there is also the problem of infrastructure, through which salaries can be paid directly, i.e. through federal government banks and through the smart card," Maarouf said. "There is only one branch of a federal bank in the region, TBI, and I believe that this bank does not have the capacity and willingness at the moment to take on this responsibility and pay the salaries of this number of employees," she said. "So I think even if the salaries of the employees are agreed to be paid by Baghdad directly, the process will take at least (three) months," she said.

A "shocking" decision for the Iraqi Ministry of Oil. Warnings and criticism of electronic collection at gas stations A "shocking" decision for the Iraqi Ministry of Oil. Warnings and criticism of electronic collection in gas stations - Shafaq News 2023-11-23 10:34 twilight News / The decision of the Iraqi Ministry of Oil to adopt electronic payment systems in all Petrol stations and cash termination as of 1 January 2024, Shock for citizens who are not familiar with the culture of electronic payment and transactions Banking, except for employees. Emphasizes Economists say that the electronic payment infrastructure is not at a level that allows the transition from cash to electronic payment, likely that the decision will cause a fuel crisis in the country if insists The ministry on its strict application. Statement Shocking The The Iraqi Ministry of Oil, on Wednesday, that the Petroleum Products Distribution Company will adopt regulations Electronic payment at all gas stations from the beginning of next year. She explained The ministry said in a statement that "in line with government directives, the Ministry of Oil decided Distribution of petroleum products Adoption of electronic payment systems at all stations, suspension Cash Dealing as of the first of January 2024." She called upon The company, as in the ministry's statement, "citizens cooperate with it by adopting mechanisms and means Modern in the distribution sector to serve the public interest, through the acquisition of electronic payment cards approved so that everyone can refuel according to the new mechanisms, and benefit from Services provided in the distribution sector". burden New The Observers say that the decision to collect electronic will add a new burden on citizens, especially Kasbah and taxi owners who do not have a "Master Card". because According to observers, they will have to issue cards at a cost of 10,100 dinars per card. each, and then recharge the card with a minimum of <>,<> dinars, in addition to the recharge amounts, This will lead to an increase in the cost of filling gasoline, which in turn will be reflected in market prices in its entirety. They emphasized, The citizen in the countries of the world has a choice between electronic and cash payment, without being forced to A certain way. Reflections Negative Loyal In this context, the economist, Omar Al-Halbousi, says that "this mechanism may be It has negative repercussions on fuel prices if strictly enforced, which may lead to to rising fuel prices and the recovery of the black market for fuel." Explains Al-Halbousi to Shafaq News "through some people who have cards Electronic payment by buying and selling fuel outside gas stations for people who do not have Electronic cards, which will constitute a fuel crisis in Iraq, if the ministry insists on its strict application." He adds "At the same time, there is a significant weakness in the electronic payment infrastructure because The stations that will be used are few with most of the workers in these stations not applying Electronic payment, in order to deduct a commission from people outside the official rate." He continues "In addition, there are entire governorates and there are no electronic payment points in any of the its stations, and this is borne by the Ministry of Oil with private banks and electronic payment companies, which did not provide an excellent level of infrastructure for the transition from cash to payment Online, especially since most electronic payment machines are old and not up to date." He increased The economist "In addition, gas station workers do not know the use good for these devices, because they are not trained on them, which is an obstructive point for the application of This procedure." culture Online Payment He stated "Iraq also greatly lacks the culture of electronic payment, and this is borne by the bank. Central Bank of Iraq, private banks and electronic payment companies that did not carry out any activity It is real to spread the culture of electronic payment to get rid of cash, on the contrary." Shows Halbousi "There are real repulsive factors imposed by banks and payment companies electronic, starting with the difficulty of extracting these cards and the lack of honesty of banks on documents customers and used most often without customer knowledge, which made customers They are averse to extracting these cards." and complete "There are also inflated prices for issuing the card, and the mechanism of its use is not clarified. for the customer, which made him stay away from electronic cards, and there are commissions deducted from Each electronic payment from the customer incurs a larger amount than cash, despite directing The Council of Ministers said that the commission is not deducted from the client, but from the employer." and concluded Halbousi to say, "All these factors make the application of the transformation process towards Electronic payment is unsuccessful, and the country will enter into a crisis unless there are processors pre-application to avoid any crisis, as well as a smooth transition towards electronic payment that The bank employees themselves are unaware of its use, so how about the average citizen?" Interest Citizen First Who is it Economist Abdul Rahman al-Sheikhly points out that "this measure was It is supposed to be announced a previous period, and work to educate citizens and introduce them to The benefit of using electronic payment devices, and taking the path of temptations by selling products Oil is less than its price for those who use these devices, but launching it in this way "It will hurt citizens and cause fuel shortages." He adds Al-Sheikhly told Shafaq News, that "the citizen in the winter season needs fuel in a way Continuous to turn on heaters, and those who have an electronic payment device or electronic card will buy This quantity and sell it on the black market, so a new non-market black market will be created regular". He explains, "The ministerial program of Mohammed Shia al-Sudani stipulated the use of payment devices Electronic, but the Ministry of Oil is supposed to calculate the interest of the citizen first before satisfying Officials, and resorting to options including supporting and dealing with those who use these devices. in a carrot manner, not completely rejected coercion." Concerns From circumvention In turn, Ali Dadoush, a researcher in economic and international affairs, confirms that "most members of society They have no banking transactions and are not familiar with the culture of electronic payment (except for employees of them)". He adds Daadoush to Shafaq News Agency, "Forcing dealing with payment cards without knowledge with its contents exposes the customer to the circumvention of some souls that hunt in troubled water, or Similar gangs specialized in electronic thefts, and examples abound in our reality contemporary". He continues "There are also large numbers of employees who withdraw their salaries when they are launched in card directly, and this procedure is done because of their lack of trust in the banking system, as a result of The repeated negatives, penalties and others that have affected a number of banks, specifically since The beginning of 2023." as for As for the positives, Daadoush points out that they are represented by "the rise of the culture of electronic payment. for the general members of society, and thus will bring about an intellectual civilizational development parallel to what exists in neighboring countries at the very least, as well as the countries of the world." And sees, "This will create an electronic marketplace that may even extend to vegetable vendors. And fruits and the like, and this is applicable in neighboring countries, and thus the goal is achieved essential and desired for the shift towards a de-cashing society, reducing Monetary dealing, because of its important effects on the reality of the economy's activity kidneys in the country."

Parliamentary economy clarifies the mechanism for regulating trade and import operations in Iraq and the possibility of achieving them Economy | Today, 11:17 | Parliamentary economy clarifies the mechanism for regulating trade and import operations in Iraq and the possibility of achieving them » Baghdad News Agency Today (baghdadtoday.news) Baghdad Today - Baghdad Today, Thursday (November 23, 2023), the Parliamentary Economy and Trade Committee clarified the possibility of Iraq succeeding in organizing trade and import operations for some materials and goods through the foreign financial transfer platform. Ali al-Maksousi, a member of the committee, told Baghdad Today that "there is difficulty in the issue of Iraq's success in controlling and regulating trade and import operations for some materials such as gold, cars and mobile phones through the foreign financial transfer platform, especially with the presence of smuggling and tax evasion, and others." He added, "Iraq has not yet succeeded in the issue of controlling the payment of foreign imports in dollars through the platform, as there are still illegal transfers taking place outside the platform," noting that "this is the reason for a rise in the exchange rate of the dollar in the parallel market." "It takes a long time and many technical and legal procedures," al-Maksousi said. On Monday (November 20, 2023), a government source reported that directives had been issued to adopt the trade in gold, cars, mobile phones and cigarettes within the dollar selling platform soon. The source explained to "Baghdad Today" that "based on the directives of the Prime Minister on the organization of trade and import operations for some materials and goods, which are mostly financed from the parallel market and its negative effects on the stability of exchange rates, the Ministerial Council of Economy will consider proposing important decisions to facilitate and simplify the procedures for the entry of importers of goods "gold, cars, mobile phones and cigarettes" to the platform of foreign financial transfers. He added, "These decisions and instructions will be the catalyst for importers of these goods to leave the process of buying and transferring the dollar through the parallel market to the dollar and directing them towards the platform for the window of selling foreign currency in the Central Bank of Iraq and at the official rate." The source stressed that "this will reflect positively and significantly on reducing the prices of the dollar in the parallel market, where trade in the above materials contributes to the largest proportion of the demand for dollars in that market." The Governor of the Central Bank, Ali Al-Alaq, spoke earlier about the reasons for establishing the electronic platform for the sale of foreign currency, saying: One of the objectives of the Central Bank of Iraq that it seeks to achieve is to integrate the banking sector into the global financial markets, because of its importance in developing its work, and accordingly, the bank has established an electronic platform to automate the mechanisms of participation in the window of selling foreign currency to achieve a number of goals, most notably simplifying subscription procedures to finance foreign trade and transparency in procedures, as well as providing opportunities More to expand banking activities with foreign correspondent banks and raise the level of compliance with the requirements of the transfer process, as well as attract a larger segment of commercial operations available in the market and improve the efficiency of operations related to the execution of the sale of foreign currency.

The Central Bank issues a circular to banks regarding their share and the sale of dollars to citizens at the official rate. Document Economy | Today, 11:29 | The Central Bank issues a circular to banks regarding their share and the sale of dollars to citizens at the official rate. Document » Baghdad Today News Agency Baghdad Today - Baghdad The Central Bank of Iraq issued circulars to the licensed banks regarding their share and the sale of dollars to citizens at the official rate. According to a document obtained by "Baghdad Today", issued on (November 22, 2023), "we confirm our circular No. 463/3/9 on 2023/8/17, paragraph (first) thereof, that the official price for selling the cash dollar to the final beneficiary (citizen) of (1320) dinars / dollar is directed to the cash share received by banks and exchange companies and mediation in the sale and purchase of foreign currency directly from this bank / the window of buying and selling foreign currency and must be adhered to and sold in accordance with the instructions communicated to you, otherwise the price is subject to for the forces of supply and demand in the market." Below is the text of the document:

Al-Kadhimi reveals the Cabinet's decisions to reduce the dollar exchange rate Posted 37 seconds ago Al-Kazemi reveals the decisions of the Council of Ministers to reduce the dollar exchange rate (www-nrttv-com.translate.goog) News source /NR TV Chanel The representative of the "Al-Fatah" coalition, Moeen Al-Kadhimi, said today, Wednesday, that it is possible that a vote on a speaker for the Iraqi Parliament will take place after the legislative recess, that is, early next year. Al-Kadhimi revealed to NRT Arabia, "The real reasons for postponing the election of the Speaker of the House of Representatives in today's session are the failure to officially present a candidate for this position." Al-Kadhimi pointed out, "The candidate for this position must be accepted by the political blocs and there must be a Sunni consensus on it also by the coordination framework and the Kurdish blocs." He pointed out, "There are names circulating for the position of Speaker of the House of Representatives, including Abdul Karim Abtan, or Dr. Muzahim from Mosul, and Ziad Al-Janabi, Karim Al-Shaalan, from the Taqadum Party," adding, "The Azm Alliance has Ahmed Al-Jubouri, Mahmoud Al-Mashhadani, and Salem Al-Issawi, Likewise, Muthanna Al-Samarrai, these are the common names." He added, "There is a competition for the position of Speaker of the House of Representatives between the political blocs, as an ambition between the representatives of the House of Representatives from the two blocs to reach the position of Speaker of the House of Representatives," pointing out, "Yesterday, Tuesday, there was a meeting between Khamis Al-Khanjar and Muhammad Al-Halbousi and their blocs, and the two were authorized To choose the appropriate candidate for the position of Speaker of the House of Representatives." Al-Kadhimi continued, "It is possible that the vote on the position of Speaker of the House of Representatives will be postponed until after the legislative recess, that is, early next year." On the other hand, Al-Kadhimi stressed, "The Presidency of the Council of Ministers had some decisions to issue remittances to buy gold, cars, mobile phones, or cigarettes, and this would reduce the pressure currently on the black market and thus lead to a gradual reduction in the dollar exchange rate." He pointed out that "some of the numbers on the black market are fictitious and are created by speculation through networks to raise the price, and that these numbers are not real," adding, "the failure to issue remittances for some imports from various other countries covered by the sanctions also leads to a rise in the dollar exchange rates." “. Senior Supplier

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Salary crisis precipitates new round of talks between Erbil and Baghdad Economic News - Salary crisis precipitates new round of talks between Erbil and Baghdad (economy-news.net) Economy Baghdad News The Minister of Finance of the Kurdistan Region, Awat Janab Nouri, confirmed that a government team will go to Baghdad to discuss the issue of salaries, pointing out that there is readiness by the federal government to solve the problems of the region, as the problem of salaries is one of the most prominent chronic points of contention between the two sides. Nouri told reporters on Wednesday that the regional government had sent the review budget to the federal government on funding salaries for the last three months of this year, but did not specify a date for the delegation's upcoming visit. The region used to have an independent source of funding that enabled it to pay salaries in part thanks to its oil exports, but since the end of last March it has lost its most important resources due to the cessation of Iraqi oil exports to Turkey. Last month, Prime Minister Mohammed Shia al-Sudani announced a conditional financial settlement with the Kurdistan region over the salary crisis, pointing to observations on the number of employees in the region, the main point of the dispute with the regional government. The Iraqi government has begun distributing the salaries for the month of November, while the Kurdistan Regional Government is waiting for Baghdad to send it 700 billion dinars (just over $ 600 million), as a loan previously agreed upon to pay the salaries of last September, and this is the last month in which Baghdad will send loans to the region, while the fate of the salaries of the remaining three months for the employees of the regional government for this year is unknown, and it depends on the Sudanese approval of the request sent several times ago. Days by KRG Prime Minister Masrour Barzani to obtain new loans from Baghdad. The Assistant Prime Minister of Kurdistan for Economic and Administrative Affairs, Ribaz Hamlan, explained that Barzani's message to the Sudanese included two important points, the first is to demand another three months' salary, and the second is to amend the salary item in the federal budget. He said at a press conference in the middle of this month, "We had previously demanded Baghdad for the salaries of the last six months of 2023, and the federal government agreed to send 700 billion dinars per month for 3 months," adding, "We had demanded to send 800 billion dinars per month, and Baghdad has so far sent two months of the three months that announced its approval, and will send another 700 billion dinars by the end of this month." "Al-Sudani made a decision at the cabinet meeting to send three salaries, but we hope that the federal government will send three more salaries", Hamlan said. He stressed at the same time, that "the Prime Minister of Kurdistan is in constant contact with the Iraqi Prime Minister," pointing out that during Sudani's visit to Erbil, President Barzani and the President of the Kurdistan Region stressed the importance of strengthening relations between Erbil and Baghdad, especially in the issue of salaries and oil. Regarding the amount related to the cost of producing Kurdistan's oil, Hamlan noted that the regional government "has set an amount and the Iraqi government has proposed another amount, so there is convergence, and oil exports will resume as soon as possible." Politicians in Kurdistan believe that Baghdad is directly responsible for paying the salaries of employees in the region, like other Iraqi provinces, and must abide by the agreement concluded with Erbil on the budget law and complete the sending of financial payments. But officials in Baghdad blame the Erbil government, blaming it for failing to perform its duties by refraining from handing over the salaries of the region's employees under the pretext that they were not sent by the central government, while it continues to illegally seize oil export funds, in addition to the revenues of border crossings. The autonomous region's government earlier appealed to the international community to support it in order to obtain its financial dues, blaming Baghdad for not sending the budget. Informed sources said that the federal government will send during the last week of this month the last financial payment according to the agreement between Baghdad and Erbil, dedicated to the payment of salaries of employees, but it will be the last payment and the submission was informed to the Kurdistan government, provided that a new agreement will be made between the two parties, noting that after sending this payment, Baghdad will not send any other amounts, which will lead to a new crisis in the region where the Kurdistan government will stop paying salaries, if it does not agree with Baghdad. The Federal Council of Ministers voted last September to send 2.1 trillion dinars to the Kurdistan region in the form of 3 payments, and by 700 billion dinars for each payment as salaries for 3 months, where two batches were sent, the first in late October and was distributed as salaries for the month of July and the second payment sent a few days ago and distributed as salaries for the month of August, while the last payment will be calculated as salaries for the month of September, while the salaries of the last three months of the year remain unaccounted for. Views 13 Added 2023/11/22 - 9:27 PM