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Parliamentary Finance Committee: The currency exchange rate will remain the same for the next five years https://ina.iq/eng/13376-parliamentary-finance-committee-the-currency-exchange-rate-will-remain-the-same-for-the-next-five-years.html +A -A Baghdad-INA the Parliamentary Finance Committee affirmed on Sunday, that the currency exchange rate will remain the same for the next five years. Committee member MP Naji Al-Saidi told the Iraqi News Agency (INA): " The reason for not changing the exchange rate is that the real value of the Iraqi dinar is determined through the exchange of the dollar against the dinar, in addition to the purchasing power of the Iraqi dinar and the net goods and services produced during a certain period. The Government is determined to achieve its goals by defining main objectives: the first is financial, which is to reduce the deficit in the public budget, the second is a monetary goal through increasing the reserves, while the third is to increase the competitiveness production currently produced within the country towards other goods exported from neighboring countries, Al-Saidi added. He also pointed out that the devaluation of the Iraqi dinar has increased the competitiveness of the Iraqi price since the goods that come from abroad, especially Turkey, Iran, Syria, Saudi Arabia and Jordan, benefit from the strength of the Iraqi dinar against the dollar because the dollar is a global currency, thus when the dollar exchange rate is raised, the competitiveness of goods will rise and fall Because it reduces Iraqi exports from abroad. Earlier, the Central Bank of Iraq decided to devalue the national currency against the US dollar, as the purchase price of the US dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. Today, 13:09

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ERBIL, Kurdistan Region — The dinar-dollar exchange rate will be fixed for the next five years, a member of the Iraqi parliament’s finance committee told state media on Sunday. “The exchange rate will remain at this rate for the next five years,” Naji al-Saidi told state media. According to Saidi, the government had three main reasons to devalue the dinar: to reduce deficit in the budget, to increase reserves, and to make domestic goods more competitive in markets. In the 2021 budget law, the Iraqi parliament voted on setting the price of dinar at 1,450 dinars per dollar. Iraqi state media announced on December 19 that the Central Bank would set the dollar at 1,470 IQD for the public. The devaluation of the Iraqi dinar is a step towards reform and creating a “financial balance” that will revive the economy, Iraq’s Minister of Finance said at the time. A member of the finance committee said in January that the devaluation will save the country around 12 trillion dinars in 2021. The devaluation of the dinar struck the public hard as government employees get paid in dinar, and they would be able to afford less with their salaries given that many imported goods are paid for in dollars. The spokesperson for Iraq’s Ministry of Planning told state media in April that the devaluation had caused inflation to increase by around 5 percent and that primary poverty indicators rose between 26 and 27 percent. Iraq has been gripped by an economic crisis, exacerbated by a drop in oil prices and the global coronavirus pandemic, which has left many unemployed. The devaluation of the dinar only added to the financial burden on people. The country has almost exclusively relied on oil revenues since the US invasion in 2003. In June last year, Iraqi Prime Minister Mustafa al-Kadhimi stated that the country currently gets 94.7 percent of its income from oil sales, a business that is also carried out in dollars. Iraq’s poverty rate stood at about 20 percent before the coronavirus pandemic – but in November, the World Bank Group estimated the poverty rate in Iraq will increase by seven to 14 percent, calling on Baghdad to introduce urgent economic reforms. At the time the devaluation was decided, influential Shiite cleric Muqtada al-Sadr voiced his skepticism of the measure’s ability to alleviate public suffering. “The Central Bank and all other banks are prisoners of corruption and corrupters. The government and parliament must seek specialized methods to end this and liberalize it immediately. It is not,” Sadr tweeted on December 19. Iraqi demonstrators took to Baghdad’s protest epicentre Tahrir Square on December 21 to air their discontent after the government decision to devalue the country's currency.

Baghdad decides to send 200 billion dinars to the Kurdistan Region 2021-08-14 15:00 Shafaq News/ The Kurdistan Regional Government announced today, Saturday, the issuance of a decision by the federal government to send 200 billion dinars to the Kurdistan Region, as part of its share under the 2021 budget. The representative of the Kurdistan government in Baghdad, Faris Issa, said, according to the Iraqi News Agency, that "the federal government decided to send 200 billion dinars to the Kurdistan government this month, as a government letter was issued to the Federal Ministry of Finance for the purpose of disbursing the amount and transferring it to the region." He added, "The Kurdistan Representation in Baghdad received the book as well." It is noteworthy that a source in the Kurdistan Regional Government, announced last July 11, that the federal government had deposited 200 billion dinars in the account of the Bank of the Regional Government. At the end of last June, an official source in the Kurdistan Regional Government announced that Prime Minister Mustafa Al-Kazemi signed an official letter to disburse 200 billion dinars as an advance earmarked to pay the salaries of employees working in the public sector in the region. https://shafaq.com/ar/سیاسة/حكومة-بغداد-تصدر-قرارا-ب-رسال-200-مليار-دينار-ل-قليم-كوردستان

Aware / A new statement to the Finance Committee about the price of the dollar.. Will it remain at its current status August 15, 2021 3 Views https://al-iraqinews.com/archives/159905 conscious / follow On Sunday, the Parliamentary Finance Committee determined that the exchange rate would remain at its current status, while indicating that raising the exchange rate aims to achieve three main factors. Committee member Naji al-Saidi said, in a statement I followed (Iraqi Media News Agency / INA), that "the exchange rate will remain in place during the next period for the next five years, on the description that the real value of the Iraqi dinar is determined through the exchange of the dollar against the dinar in addition to the purchasing power of the dinar." and the net goods and services produced during a specific period. He continued, "The government is firm in achieving its goal by defining three main goals: the first is financial, which is to reduce the deficit in the public budget, the second goal is a monetary goal by increasing reserves, and the third goal is to increase the competitiveness currently produced within the country towards other goods exported from neighboring countries, and this The main goal that the government seeks by filling the budget deficit.” He pointed out that “decreasing the value of the dinar increased the competitiveness of the Iraqi price on the description that goods that come from abroad, especially Turkey, Iran, Syria, Saudi Arabia and Jordan, benefit from the strength of the Iraqi dinar against the dollar because the dollar currency is a global currency, and when the dollar exchange rate is raised, the competitiveness of goods will rise and fall.” Because it reduces Iraqi exports from abroad

Discuss employee payroll tax.. Finance hosts a conference on taxes and deductions 2021-08-14 | 08:19 https://www.alsumaria.tv/news/اقتصاد/393428/ناقش-ضريبة-رواتب-الموظفين-المالية-تحتضن-مؤتمراً-حو Today, Saturday, the Tax System Reform Conference in Iraq discussed a roadmap for implementing the reform and development plan for tax policy. The Ministry of Finance said in a statement, received by Alsumaria News, that "the work of the conference on reforming the tax system in Iraq was launched today, under the auspices of Finance Minister Ali Abdul-Amir Allawi, and in the presence of a member of the Parliamentary Finance Committee, Sadiq Al-Sultani, the Undersecretary of Finance and Planning, Adviser to the Prime Minister, a number of general managers in the ministry, experts and engineers." Investors, contractors, industrialists, businessmen and researchers in the tax sector. The conference discussed, “a set of main axes that, in total, constitute a roadmap for implementing the reform and development plan for tax policy, the most important of which is the feasibility of applying the tax system in Iraq, real estate tax, government contracts tax, and direct deduction, in addition to discussing the income tax axis on oil licensing companies and employee salaries tax.” The private and public sector, the mobile phone company tax, business and currency auction taxes." They also discussed, according to the statement, "the aspect of tax exemptions on investment projects as incentives to attract investors and expand the base of promising development opportunities." In his speech, the Minister of Finance indicated that "the conference aims to discuss mechanisms to reform and modernize the current tax system by reviewing legislation and tax laws and instructions for their implementation in line with the challenges of the current economic reality, and the tax sector's impact on the monetary and financial policy in the country." He pointed out that "the importance of convening the conference came according to several necessities, the most important of which is that the current tax system does not meet the requirements of economic advancement and does not support the elements of achieving comprehensive and sustainable development." Allawi added, "These reforms will have positive repercussions that will provide the necessary revenues to finance the state's public expenditures, activate the investment reality and establish development projects that provide new job opportunities among young people." The Minister of Finance stressed that "the ministry is moving towards implementing its reform programs related to tax policy, as it is one of the most important strategic objectives stipulated in the white paper, and that the ministry pays great attention to the field of introducing global technology and modern digital systems through the complete automation of tax work and benefiting from international expertise and discreet companies." Specializing in the tax field and providing tax services with high quality and accuracy.

A decisive statement from Parliamentary Finance regarding the change in the price of the dollar in Iraq Posted 6 hours ago news source / NR TV channel https://iraqakhbar.com/3252800 On Sunday, the Parliamentary Finance Committee determined that the exchange rate would remain at its current position, while pointing out that raising the exchange rate aims to achieve three main factors.. Committee member, Naji al-Saidi, told the official media, today (August 15, 2021), that “the exchange rate will remain in place during the coming period for the next five years, on the description that the real value of the Iraqi dinar is determined through the exchange of the dollar towards the dinar, in addition to the purchasing power of the Iraqi dinar.” The net goods and services produced during a specific period. He added, "The government is firm in achieving its goal by defining three main goals: the first is financial, which is to reduce the deficit in the public budget, the second goal is a monetary goal by increasing reserves, and the third goal is to increase the competitiveness currently produced within the country towards other goods exported from neighboring countries." This is the main goal that the government seeks by filling the budget deficit.” He pointed out that “decreasing the value of the dinar increased the competitiveness of the Iraqi price on the description that the goods that come from abroad, especially Turkey, Iran, Syria, Saudi Arabia and Jordan, benefit from the strength of the Iraqi dinar against the dollar because the dollar currency is a global currency, and when the dollar exchange rate is raised, the competitiveness of goods will rise and fall.” Because it reduces Iraqi exports from abroad.” And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar.

SULAIMANI — Member of Iraq’s Council of Representatives’ Constitutional Amendments Committee Yonadm Kanna said on Monday (August 9) that the committee’s work has been suspended due to political disagreements between the federal government and the Kurdistan Regional Government (KRG), particularly Article 140 which governs the disputed areas. Kanna told state-run Iraqi News Agency (INA) that the committee has not received any reports from the committee that was formed from representatives of Kirkuk governorate on a number of points of contention, including the presence of the federal police forces and the joint forces. He added that work in amending 50 articles of the 2005 Constitution were completed in 2007, but it "remained on the shelf due to political differences.” Article 140 of the Iraqi Constitution of 2005 outlines how to settle the issue of the so-called disputed areas, a belt of territory stretching across several governorates from Nineveh through Saladin and Kirkuk into Diyala and northern Wasit that is claimed by both the KRG and the federal government, but has never been fully implemented. The article is based on Article 58 of the Transitional Administrative Law, which provides for "just compensation” of people who were displaced by the Ba’athist regimes Arabization campaign in the 1970s and 1980s, which replaced Kurds, Turkmens, and members of other ethnic groups living in the disputed areas with Arabs. (NRT Digital Media)

https://almasalah.com/ar/news/213460/وزير-النفط-نعمل-على-حل-المشاكل-العالقة-مع-كردستان-بالحوار 08/09/2021 17:23 Oil Minister: We are working to solve outstanding problems with Kurdistan through dialogue Baghdad / Obelisk: Oil Minister Ihsan Abdul-Jabbar stated, on Monday, August 9, 2021, that the federal government and the Ministry of Oil stress the need to deal with high transparency with the management of oil wealth throughout Iraq, and work to solve outstanding problems with the Kurdistan region through dialogue, exchange and respect of views with Putting the national interest above all considerations. During his meeting in Baghdad with the Minister of Natural Resources in the Kurdistan Region, Kamal Hamid Al-Atrushi, Abdul-Jabbar said: We welcome cooperation with the Ministry of Natural Resources in the Kurdistan Region and our readiness to work to remove all technical and financial problems and obstacles in order to preserve the national wealth that belongs to the Iraqi people, as stipulated in the constitution. . The Minister of Oil expressed the hope that the meetings and dialogues with the region would lead to opening a new page of serious objective dialogue to solve outstanding problems and to serve the Iraqi people from north to south, according to the constitutional texts that organized the rights of the provinces and regions. For his part, Minister of Natural Resources Kamal Hamid Al-Atrushi called for joint cooperation with the Ministry of Oil and the Federal Government, and to work together to open new horizons in bilateral relations towards the optimal investment of national wealth throughout Iraq and to work on developing oil and gas fields and establishing joint projects in an integrative manner that would lead To make good use of oil wealth to serve the public interest. He said: During the meeting, we saw great cooperation and response to discuss and solve all outstanding problems between the center and the region, as well as activating new formulas and agreements that guarantee cooperation to develop the oil and gas industry in support of the national economy and sustainable development

Oil, OPEC and the region Posted 4 hours ago https://iraqakhbar.com/3241845 news source / Sky Press / Dr. Bilal Al-Khalifa We talked a lot on the subject of the federal general budget and the conditions for the region to hand over its share of the budget until after it had implemented the conditions mentioned therein, and among those conditions is the region’s commitment to produce 450,000 barrels per day and the delivery of SOMO 250 thousand barrels per day, despite the fact that the region’s production exceeds 600,000 barrels and that the region did not Baghdad knows the amount of oil produced or the oil exported, and the numbers are nothing but leaks from some Kurdish politicians. A few days ago, we heard from the media that the Iraqi government transferred an amount of 200 billion Iraqi dinars (137 million dollars) as aid to the region outside the controls set by the 2021 budget, which stipulated that a budget be allocated to the region in exchange for overseeing its export of its oil and the delivery of part of the revenue from its border crossings. We did not hear a position on that from the members of Parliament, nor from the large blocs that made the decision to object to the federal government and hold it accountable against this procedure, which violates the general budget law. Even the critics of the corruption of the previous governments are now as silent as the graves in making a single note against this government, and my great reproach to the people of the south and the center for their silence because of those who steal their money to rebuild the areas of others and neglect their own. On the other hand, SOMO explained that “sales from the Kurdistan region, which are outside the exports of the Oil Marketing Company, and directly exported by the region, amounted to up to 77 million barrels of oil during the first half of this year, and its revenues are likely to be around 4 billion and 800 million. dollar. On the other hand, the National Oil Marketing Company "SOMO" stated that the total revenues and exports of crude oil during the first half of this year amounted to 33 billion dollars, noting that the region's oil exports are outside these revenues. Thus, the ratio of the region's revenues to the revenues obtained by the federal government is 14.5% of government revenues. This means that it receives higher amounts of money than is allocated to it in the federal general budget. I did not mention an important point, which is that these revenues are oil only, as there are other revenues, including taxes, fees, customs and others. If those revenues were collected, the total would reach more than that percentage. The injustice that is inflicted on the south by the federal government and the region, can be summarized thus, with regard to the oil file only: 1 - It is taking the funds of the center and the south from the federal general budget by the region without contributing even one dinar to it. 2 – Its export of crude oil takes from the central and southern share of the quantity specified for it by the Organization of Petroleum Exporting Countries (OPEC), as the Kurdistan region’s failure to comply with the “OPEC +” agreement leads to the demand of “OPEC” for Iraq to reduce 6 million barrels per month from its production. It should be noted that the average price of a barrel for the month of July is $72, so the region's failure to export oil costs Iraq $432 million for the month of July only. This is in addition to the amount transferred from the federal government to him, which is 137 million, so the total is 569 million dollars per month. 3 - To control the decision issued to the center and the south, despite the fact that the federal government is unable to transfer the simplest employee in the region. 4 - If this amount had been utilized, it would have been sufficient to construct a plant with a capacity of approximately 1,000 megawatts. Thus, within one year, we would be sufficient to generate electric power

ERBIL (Kurdistan 24) – The Kurdistan Regional Government and Iraq’s federal government will embark on a fresh start to solve outstanding issues in the energy sector, Iraq’s energy ministry said. The new approach came during a meeting between KRG Minister of Natural Resources Kamal Atroushi and Iraqi Minister of Oil Ihsan Abdul Jabbar Ismaael in Baghdad on Sunday. The Iraqi energy minister “welcomed cooperation with the KRG ministry of natural resources and expressed his ministry’s readiness to remove all the technical and financial barriers,” the statement read. The official said he hoped discussions with the Kurdish region would turn a “new page” on energy issues. Atroushi added that he hoped to improve bilateral ties with his Iraqi counterpart with an eye on mutual investment and joint projects, the statement added. The two ministers stressed the importance of transparency in the energy sector across the country and placing the “national interest” above other considerations. The KRG oil ministry delegation in the meeting with their Iraqi counterparts in Baghdad, August 8, 2021. (Photo: Iraqi Oil Ministry)

ERBIL — The government of Kurdistan Region and Iraq have agreed to begin a new round of efforts to boost cooperation on oil and gas between Erbil and Baghdad, according to an official statement. Kurdistan Region’s Minister of Natural Resources, Kamal Atrushi, and Iraq’s Oil Minister Ehsan Abdul Jabbar met on Sunday in capital Baghdad to discuss the prolonged disputes over oil production and marketing. Iraq’s Oil Ministry said in a statement after the meeting that Abdul Jabbar had expressed willingness to address the technical issues and financial disputes with counterparts in Erbil “in accordance with the [Iraqi] constitution”. He also said that Baghdad is ready to “turn the page” and begin a new round of dialogue on the technicality of the outstanding issues in hopes of finding a solution that could serve the best interests of the Iraqis. The initiative was well received by the Kurdish oil minister who hoped that the dialogues would also open new horizons in the bilateral relations between Erbil and Baghdad, the statement added. Erbil and Baghdad announced that they reached an agreement last December to address their oil disputes, according to which the former is required to hand over 250,000 barrels of oil monthly and 50% of customs revenues to the Iraqi government, while the later should release Kurdistan’s share from the federal budget. However, both sides blamed each other for not exactly fulfilling their duties under the agreement, which has only added to the prolonged disputes.

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The Central Bank of Iraq .. and the process of achieving monetary policy goals https://economy-news.net/content.php?id=25912 Samir Al-Nusairi Samir Al-Nusairi* Monetary policy applications face great challenges for many reasons related to the effects and repercussions of the economic reality that Iraq has experienced since 2003 and is still ongoing and during the previous years and since the issuance of the Central Bank Law No. To achieve monetary stability, especially during the economic, financial and security crises that Iraq suffered due to the instability of oil prices, which is the main resource for the public budget, the outbreak of the Corona pandemic and the war on terrorism, and the Central Bank is still making clear efforts on this path. For the purpose of presenting and analyzing the process of achieving monetary policy goals and transforming them into achievements achieved by the Central Bank during its march for the previous years and it is still continuing in the same pace and approach to achieve the goal of monetary stability. Its policies and programs in monetary policy applications and linking all of this to the economic reality through coexistence, follow-up and monitoring have reached a study specialized in this vital issue in the current circumstance. The Central Bank of Iraq is a solid, sovereign, economic and financial institution founded in 1947 of the last century. It is specialized in drawing up the paths and policies of monetary policy applications, supervision and control of the banking sector, and is considered the financial advisor to the government. And the Central Bank of Iraq had a key role in managing the economic process in Iraq after the change in 2003 according to its new law 56 of 2004 and through its management of monetary policy and the achievement of its objectives. Building the introductions to the transition from the philosophy and strategies of the central economic system in managing the economy to the philosophy, strategies and mechanisms of a market economy. The most important feature of this stage is the empiricism and the practice of economic policies and jurisprudence that depend mainly on the application of market economy mechanisms without relying on the basic economic pillars of this transition. The unstable security clearly contributed to the dispersion of applications in economic and financial policies and the different visions and strategies to reach the specific central goals, in addition to the shortcomings in some articles of the legislative environment of the economic laws in force and issued in 2004 that regulate the economic process, which led to a disturbance in the application. Achievement Walk (1) However, the Central Bank of Iraq and the banking sector have taken great development steps towards moving from banking activity to real and developmental activity, especially in recent years. Since the issuance of laws regulating banking work in 2004, great achievements have been made in the field of: * Reducing the hyperinflation that Iraq was suffering from and bringing it to good rates, amounting to less than 2 percent, as indicated by data and financial indicators.. * And that the Central Bank of Iraq was able to maintain for several years the exchange rate of the Iraqi dinar against the US dollar in a balanced manner, despite the fluctuation and variation upwards And down according to the difficult economic conditions and the financial and economic crises due to the drop in oil prices, the war on terrorism and the speculations that occur in the markets. * Issuing instructions, controls, memoranda, and regulatory and guiding regulations that are consistent with international standards and requirements of compliance regulations and rules, combating money laundering and terrorist financing, and issuing a law regulating this in 2015 and liquidating 700 notes diagnosed by the Financial Action Group (FATF), which moved Iraq from the gray area to the regular follow-up Every two years * Controlling the violations that occur by reviewing, evaluating and classifying banks for the purposes of comprehensive evaluation according to the (camels) system and for the purposes of the foreign currency sale window, with the aim of controlling the movement of foreign currency and limiting its disposal other than the specific economic goals of monetary policy applications. As dealing with the sale of foreign currency is one of the largest open market operations in controlling the levels of local liquidity and putting the cash surplus in its proper tracks, which is a good economic indicator that the exchange rate will be stable despite the difficult economic conditions that Iraq went through after 2014. * The Central Bank of Iraq was able to maintain a good foreign cash reserve despite the conditions of economic stagnation, yet it formed a safe cover for the Iraqi dinar and to cover trade within a period of more than six months, which is an internationally approved standard rate. * He clearly contributed to covering the deficit in public budgets according to what was planned by re-discounting treasury bonds issued by the Ministry of Finance and issuing international treasury bonds, in addition to the praise of the Bank and the International Monetary Fund for the economic and financial reform programs adopted by the Central Bank in accordance with its five-year strategy. * The formation of a joint committee between him and financial coordination between the fiscal and monetary policies have been achieved because of the numerous coordinating measures and this marks a clear fact that the bank CBI has managed efforts to clear over the years last to enhance his tally of foreign exchange in the bank 's coffers in foreign banks and reserves of gold In Baghdad and abroad, it is well in line with oil prices and developments on the local and regional arena. * The calculated and bold economic and financial measures carried out by the Central Bank and its successful experience in providing continuous support to the Iraqi economy, in addition to its initiative to revitalize the economic cycle, launch and follow-up the implementation of its multiple initiatives to finance small, medium, housing and investment projects in the housing, agriculture, industry and services sectors, support banks’ liquidity and achieve two economic and social goals at the same time . * Taking other important measures by establishing the Deposit Insurance Company, which has begun its tasks for the purpose of restoring confidence in the banking sector and increasing the savings rate for the monetary mass in banks at the expense of the hoarding ratio. * All of this was accompanied by structural and structural developmental developments in all the specialized and qualitative departments of the bank, focusing on total quality management, institutional development, adoption of international standards, risk management, banking awareness, technical developments in payment systems, electronic payment and information technology, which contributed to the transition of the Central Bank’s work policies and procedures to an advanced stage on the Steps to achieve monetary stability. Therefore, the Central Bank of Iraq is responsible for the monetary policy in Iraq and its applications, and for the developmental role that it must play as a solid sovereign institution in formulating and implementing monetary policy in conditions of intertwined plans and policies. But then monetary policy had clear features, directions, and strategies. The functions of the Central Bank of Iraq are to achieve the above objectives as follows: First - Formulation and implementation of monetary policy, including the exchange rate policy. Maintaining and managing all foreign reserves. Secondly, managing the government's gold reserves. Third - Issuing and managing the Iraqi currency. Fourth - Monitor and enhance the safety and efficiency of payment systems. Fifth - Issuing licenses or licenses for banks, regulating and controlling banks as specified in Banking Law No. 94 of 2004. Sources * Samir Al-Nusairi, The Tagged Book, The Central Bank of Iraq in Facing the Challenges of the Economic and Financial Crisis (2015-2017) * Selected studies and research issued by the Central Bank and published on its website. Views 247 Date Added 08/08/2021

The Minister of Oil confirms his readiness to address the outstanding problems with the region https://nnciraq.com/79648/ Sunday, August 8, 2021 4:30 PM Baghdad / National News Center , Minister of Oil, Ihsan Abdul-Jabbar, confirmed today, Sunday, his ministry's readiness to work to remove all technical and financial problems and obstacles with the Kurdistan region in order to preserve the national wealth, which is the property of the Iraqi people, according to the provisions of the constitution. The Minister of Oil, Ihsan Abdul-Jabbar Ismail, said during his meeting with the Minister of Natural Resources, Kamal Hamid Al-Atrushi, in a statement issued by the ministry, received by the "National News Center", that "the federal government and the ministry stress the need to deal with high transparency with the management of the oil wealth throughout Iraq, and work to Solve outstanding problems through dialogue, exchange and respect of viewpoints, while placing the national interest above all considerations. The Minister of Oil expressed his hope that “the meetings and dialogues with the region, especially after Minister Al-Atrushi assumed his duties, would lead to opening a new page of serious objective dialogue to solve outstanding problems and to serve the Iraqi people from north to south, according to the constitutional texts that organized the rights of the provinces and regions.” While the Minister of Natural Resources, Kamal Al-Atrushi, expressed his "hope for joint cooperation with the Ministry of Oil and the federal government, and to work together to open new horizons in bilateral relations towards optimal investment of national wealth throughout Iraq and to work on developing oil and gas fields and establishing joint projects in an integrative manner that would lead To make good use of the oil wealth to serve the public interest. Al-Atrushi indicated that “during the meeting with the Minister of Oil and officials in the ministry, he felt great cooperation and response to discuss and solve all outstanding problems between the center and the region, as well as activating new formulas and agreements that guarantee cooperation to develop the oil and gas industry in support of the national economy and sustainable development.”

A new statement from Parliamentary Finance pushes to change the dollar exchange rate in Iraq Posted 3 hours ago https://iraqakhbar.com/3241186 news source / Baghdad today News source / Baghdad today Baghdad Today - Special Today, Sunday, the Parliament’s Finance Committee suspended again regarding the exchange rate of the dollar against the Iraqi dinar, at the present time. Committee member Muhammad Ibrahim told (Baghdad Today), “The relevant executive government authorities are urgently required to review the decision to raise the dollar exchange rate, at the time, especially since all the justifications and arguments for this decision have disappeared after the rise in oil prices in global markets. “. And Ibrahim indicated that "citizens so far are still suffering from the consequences of this decision, which has burdened the citizen, especially since this decision has caused a significant increase in the prices of food and other materials." The committee member continued: "We in the Finance Committee will continue to demand that the dollar exchange rate be restored to its old price, after the improvement of oil prices."

SULAIMANI — Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail met with Kurdistan Regional Government (KRG) Minister of Natural Resources Kamal Hamid Atrushi on Sunday (August 8 in a bid to make progress in resolving outstanding disputes between Baghdad and Erbil. Both expressed their readiness to engage in dialogue with his KRG counterpart on budget and energy issues and increase transparency, according to Turkish state-run Anadolu Agency. Atrushi said that that KRG wanted to "establish joint projects in the field of oil production and put agreements into practice and take steps to sign several new agreements.” Iraq’s federal government and the KRG have long been at loggerheads over energy issues and revenue sharing from oil sales, particularly over the KRG’s independent exports. (NRT Digital Media)

2021/07/27 23:49 Al-Kazemi discusses with the President of the World Bank the financing of infrastructure projects and clean energy Baghdad / Obelisk: Prime Minister Mustafa Al-Kazemi met, on Tuesday, July 27, 2021, at his residence in the American capital, Washington, the President of the World Bank Group David Malpass and his accompanying delegation. During the meeting, they discussed joint cooperation in various fields, supporting the Iraqi government's efforts in administrative reform and combating corruption, supporting capacity building for Iraqi institutions, public sector reform, and banking sector reform efforts. They also discussed cooperation with regard to financing infrastructure projects in Iraq, in the areas of water, airports, and natural gas. They discussed clean energy projects, especially solar energy to generate electric power. The Prime Minister stressed the importance of developing cooperation with the World Bank and ways to develop it, urging His Excellency to expedite the disbursement of more than one billion dollars available as loans to the World Bank. To support the government in projects ready for implementation inside Iraq. Al-Kazemi discussed with the President of the World Bank Group, supporting the Iraqi government's plans in housing projects, and encouraging investments in this sector by American companies, and other companies. https://almasalah.com/ar/news/212863/الكاظمي-يبحث-مع-رئيس-البنك-الدولي-تمويل-مشاريع-البنى-التحتية-والطاقة-النظيفة

2021/07/27 11:41 The United States is fortifying the Central Bank of Iraq's money abroad Baghdad / Obelisk: The Central Bank of Iraq said, on Tuesday, July 27, 2021, that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America. The bank stated in a statement received by "The Obelisk" that the legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them, and also confirmed that they will defend its immunity with the rest of the countries and these reserves cannot be compromised. . The statement added that since Iraq will complete during the coming period the full payment of compensation and benefits accruing from it before 2003, this will lead to the lifting of the international immunity of Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies. According to the statement, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, pledging to defend what is in the central banks. https://almasalah.com/ar/news/212821/الولايات-المتحدة-تحصن-اموال-البنك-المركزي-العراقي-في-الخارج