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The Central Bank reviews its development initiatives worth 15 trillion dinars Time: 12/22/2021 20:08:57 Reading: 2,275 times {Economic: Al Furat News} The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, stressed the importance of reviewing his development initiatives worth 15 trillion dinars. And the bank held a workshop in which it discussed its development initiatives under the title {Central Bank of Iraq’s initiatives, reality, challenges and ambitions}. The Governor stressed the fear in a speech in which he stressed "the importance of reviewing the development initiatives launched by the Central Bank, whose values exceeded more than (15) trillion dinars, as well as the importance of coordination with public finance in providing financial support that saved the country from a major crisis caused by the complex security and health crises that go through." For his part, the Secretary-General of the Council of Ministers stressed the importance of the initiatives of the Central Bank and the sectors they covered, and thanked the Central Bank management and its employees and the banking sector contributing to these initiatives. During the workshop, the most prominent indicators achieved by development initiatives and their positive effects, especially in the housing sector, were reviewed, as well as a number of presentations by the Industrial and Real Estate Bank and the Housing Fund, which were followed by discussions from the audience. The workshop was attended by a number of central bank officials, managers of government and private banks, and investors from the private sector. https://alforatnews.iq/news/البنك-المركزي-يراجع-مبادراته-التنموية-بقيمة-15-ترليون-دينار

Legal eLegal expert: The expiry of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VIIxpert: aq’s exit from Chapter I 2021-12-23 11:26 Legal expert: The expiry of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VII Shafaq News/ Legal expert Tariq Harb confirmed today, Wednesday, that the payment of the last batch of Kuwait's compensation has nothing to do with Iraq's exit from Chapter VII. Harb told Shafaq News Agency, "Chapter VII was lifted several years ago, and what has now ended with regard to the debt committee that was based on Chapter VII by deducting sums from Iraq," noting that "Iraq after exiting Chapter VII was able throughout The past years of buying weapons and the process of trading in all things, and thus the completion of the payment of compensation, has nothing to do with Iraq's exit from Chapter VII. Harb added, "After it paid the last amount of $44 million, all compensation under Security Council Resolution 87 of 1991 ended," adding at the same time, that "these debts were not even applied under Chapter VII when payments were postponed in 2014 with The entry of ISIS and the drop in oil prices. The Central Bank had announced yesterday, Tuesday, the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation will contribute to removing Iraq from Chapter VII. Iraq had to deposit 5 percent of its export revenues from sales of oil, its products and gas, before reducing it to 3 percent in 2018 in a UN fund that was established under the name of the United Nations Compensation Fund. In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait. https://shafaq.com/ar/سیاسة/خبير-قانوني-لا-علاقة-بانتها-سداد-تعويضات-الكويت-بخروج-العراق-من-البند-السابع

link https://yesiraq.com/الكويت-العراق-سدد-الدفعة-الاخيرة-من-ال/

Kuwait: Iraq paid the last batch of compensation 3 months ahead of schedule Yes Iraq: Baghdad Kuwait announced that Iraq handed over the last batch of compensation amounting to 44 million dollars before its due date in the spring of next year. The Kuwaiti Al-Rai newspaper, quoting officials, reported that “Iraq paid the last payment of $44 million to complete the remaining $629 million for Kuwait, revealing that the amount returned from the deduction from oil sales amounted to about $585 million, and the remaining 44 million, so the Iraqi government decided to pay The remaining amount instead of waiting for the next quarterly withholding payment to be due, in the spring of 2022.” She added that "the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system." She indicated that "the United Nations Compensation Committee will hand over to Kuwait the last batch of compensation owed to it from Iraq at the end of this month or the beginning of next January at the latest, indicating that the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of paying the prescribed compensation claims. It is complete for Kuwait. In accordance with Security Council resolutions, the percentage deducted from the proceeds of export sales of oil and its products was 5% in 2003, then it decreased to 0.5% in 2018, and then rose to 1.5% in 2019, to stabilize since 2020 at 3%. In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait. On November 21, 2021, the Central Bank announced the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation would contribute to removing Iraq from Chapter VII.

For this reason.. Kuwait: Iraq handed over the last batch of compensation before it was due THURSDAY, 12-23-2021,PM 12:27 KARAR AL ASADI http://non14.net/public/images/large/8-1640251654.jpg Kuwait announced that Iraq handed over the last batch of compensation amounting to 44 million dollars before it was due. The Kuwaiti Al-Rai newspaper, quoting officials, stated that "Iraq paid the last payment of $44 million to complete the remaining $629 million for Kuwait," revealing that "the amount returned from the deduction from oil sales, amounted to about $585 million, and the remaining 44 million, so the Iraqi government decided Pay the remaining amount rather than wait until the next quarterly withholding payment is due, in the spring of 2022.” She added that "the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system." She indicated that "the United Nations Compensation Committee will hand over to Kuwait the last batch of compensation owed to it from Iraq at the end of this month or the beginning of next January at the latest," noting that "the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of payment." The compensation claims imposed on him are in full to Kuwait. In accordance with Security Council resolutions, the percentage deducted from the proceeds of export sales of oil and its products was 5% in 2003, then it decreased to 0.5% in 2018, and then rose to 1.5% in 2019, to stabilize since 2020 at 3%. In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait. On November 21, 2021, the Central Bank announced the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation would contribute to removing Iraq from Chapter VII. http://non14.net/public/142894

After 31 years.. Iraq closes the most prominent outstanding issues with Kuwait Time: 12/21/2021 20:28:19 Reading: 2,756 times {Political: Al Furat News} Iraq has completed paying the compensation amounts allocated to the State of Kuwait for the losses of the Saddam's invasion of the neighboring country in 1990, at a value of 44 million US dollars. The Central Bank of Iraq stated: "The payment of the last remaining payment of $44 million in compensation from the State of Kuwait has been completed, and thus Iraq has completed the payment of the full compensation amounts approved by the United Nations Compensation Committee." The bank's statement today, Tuesday, said: "It is hoped that ending the payment of compensation will contribute to the re-integration of the Iraqi banking system into the global banking system." Thus, Iraq paid 52.2 billion dollars to compensate for the destruction caused by its invasion of Kuwait to the Kuwaiti infrastructure and the losses it caused to Kuwaiti citizens and foreigners as a result of the Saddamist invasion. https://alforatnews.iq/news/بعد-31-عاماً-العراق-يغلق-أبرز-الملفات-العالقة-مع-الكويت

Iraq announces the final closure of the Kuwaiti compensation page Economy News _ Baghdad The Central Bank of Iraq announced, on Wednesday, the completion of the last remaining installment of Kuwait's compensation, amounting to 44 million dollars. The bank said in a statement received by "Al-Iqtisad News", that "the payment of the last remaining installment of the State of Kuwait's compensation amounting to $44 million has been completed." He continued by saying, "With this, Iraq will have completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council under Resolution (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait." He added, "It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved." In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait. Iraq had stopped making payments between 2015 and 2017 during the war on the terrorist "ISIS", which controlled a third of the country, but it resumed in 2018. Iraq was paying the amount of compensation to a UN fund established under the name of the United Nations Compensation Fund, through a percentage of oil sales. Views 534 Date Added 12/22/2021 https://economy-news.net/content.php?id=27003

Economist to / NINA /: Ending Kuwait's debt file will contribute to reconsidering Iraq's credit rating and its exit from Chapter VII Monday 13 December 2021 11:01 | Baghdad / NINA / - An expert in economic affairs, Safwan Qusay, confirmed that the decision to end Kuwait's debt file will contribute to reconsidering Iraq's credit rating and allowing Iraq to exit the sanctions imposed on it in accordance with Chapter VII. Qusay said in a statement to the National Iraqi News Agency ( NINA 😞 "It has become clear that Iraq is moving towards clearing the debts of the first Gulf War by paying the last installment of 600 million US dollars, after it succeeded in paying more than 50 billion US dollars incurred as a result of the occupation of Kuwait." And what followed,” noting: “This will contribute to reconsidering Iraq’s credit rating and allowing it to get out of the sanctions imposed on it in accordance with Chapter VII.” He added, "However, the financial liberalization of Iraq's money should focus on the continuation of the American protection system for these funds, because raising the American protection system will enable Iraq's creditors to seize these funds." Qusay stressed the financial policy maker in Iraq to invest in this situation in favor of activating the decisions of the Kuwait Conference in support of the rehabilitation of Iraq by supporting Gulf investments and supporting international guarantees in favor of investment growth in Iraq. He continued, "This approach can restore confidence in Iraq's financial ability and free 3% of Iraq's oil revenues to finance the Iraq Sovereign Fund, which will represent the new window to support investment and establish infrastructure in Iraq." And the Central Bank of Iraq announced last Thursday that it had ended the necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues. And he confirmed, in a brief statement, the possibility of paying the remaining amount of compensation in full before the end of the current year 2021 to end this file./End 8 https://ninanews.com/Website/News/Details?Key=944525

Iraq leaves “Chapter VII” in early 2022 and an urgent step for the US Federal regarding Kuwait’s compensation Time: 12/09/2021 {Political: Al Furat News} The Chairman of the Committee of Financial Experts, Abdul Basit Turki, expected that, at the beginning of next year 2022, Iraq will get rid of the risk of falling under Chapter VII of the Charter of the United Nations after fulfilling its financial obligations related to compensating the State of Kuwait for the losses it incurred as a result of the regime’s invasion. Saddam Hussein in August 1990. According to Turki, whose committee oversees the Iraqi funds derived from the production and export of oil and petroleum products and deposited in a sub-account with the Federal Reserve Bank in New York, "The Central Bank of Iraq will pay the entire remaining amount of compensation directly, after stopping the automatic deduction." In a press statement, Turki called for "the move of the Ministry of Foreign Affairs and the concerned authorities to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely." The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday, Tuesday, more than 207 million US dollars, with the US Federal Reserve; As a prelude to removing Iraq from Chapter VII. Turki explained that the Federal Reserve, two days ago, specifically hours after paying the penultimate payment, stopped the “automatic deduction” from the account of the Iraqi Ministry of Finance with it, in the interest of the Kuwait War Compensation Fund, following a request made by the Central Bank of Iraq. He noted the need for the forthcoming decision to provide for "protecting Iraq from any claims related to the Kuwait war compensation, whether it is individual claims or filing lawsuits related to compensation," calling for "the cancellation of all decisions that resulted from the Kuwait war." The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait. Iraq stopped making payments in 2014 during the war on ISIS terrorist gangs that controlled large parts of the country, but it resumed payments in 2018. https://alforatnews.iq/news/العراق-يغادر-الفصل-السابع-مطلع-2022-وخطوة-عاجلة-للفيدرالي-الأمريكي-بشأن-تعويضات-الكويت

Central bank sales of hard currency are rising again Economie| 01:13 - 12/07/2021 Baghdad - Mawazine News, the Central Bank of Iraq's sales of hard currency, on Monday, rose again. Today, the Central Bank auction for the sale and purchase of foreign currencies witnessed an increase in its sales by 8.13%, to reach 226 million, and 735 thousand and 591 dollars, which it covered at a base exchange rate of 1460 dinars per dollar. The purchases amounting to 169 million and 745 thousand and 591 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 56 million and 990 dollars went in cash. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=160240

Iraq is holding talks to overcome the obstacles to its accession to the World Trade Organization The Permanent Representative of the Republic of Iraq to the United Nations Office in Geneva Abdul Karim Hashim Mustafa (right) with Zhang Xiangchen, Deputy Director-General of the World Trade Organization money and business Economy News - Baghdad The Permanent Representative of the Republic of Iraq to the United Nations Office in Geneva, Abdul Karim Hashim Mustafa, discussed with the Deputy Director-General of the Organization, Zhang Xiang Chen, ways to activate the file of Iraq's accession to the World Trade Organization. This came during their meeting, to talk about ways to activate the file of Iraq's accession to the organization, and the importance of continuing to work on completing technical documents to complete the requirements for accession, and to overcome obstacles and challenges facing the accession process, according to a statement by the Ministry of Foreign Affairs. The two sides stressed the importance of providing the basic elements for a successful accession process, which lie in political will, coordination between ministries, and technical assistance programs that hone the skills of the negotiating team. Views 131 Date added 12/07/2021 https://economy-news.net/content.php?id=25691

Iraq is holding talks to overcome the obstacles to its accession to the World Trade Organization during the meeting July 11, 2021 11:59 PM Mubasher: The Permanent Representative of the Republic of Iraq to the United Nations Office in Geneva, Ambassador Abdul Karim Hashem Mustafa, discussed with the Deputy Director-General of the Organization, Chinese Ambassador Zhang Xiang Chen, ways to activate the file of Iraq’s accession to the organization This came during their meeting, today, Sunday, to talk about ways to activate the file of Iraq's accession to the organization, and the importance of continuing to work in completing technical documents to complete the requirements for accession, and to overcome obstacles and challenges facing the accession process, according to a statement by the Ministry of Foreign Affairs. The two sides stressed the importance of providing the basic elements for a successful accession process, which lie in political will, coordination between ministries, and technical assistance programs that hone the skills of the negotiating team. https://www.mubasher.info/news/3829441/العراق-ي-جري-مباحثات-لتذليل-عقبات-انضمامه-لمنظمة-التجارة-العالمية/

Foreign Ministry: Discussions to overcome obstacles to Iraq's accession to the World Trade Organization political| 10:53 - 11/07/2021 Baghdad - Mawazine News Iraq's permanent representative to the United Nations discussed overcoming obstacles to Iraq's accession to the World Trade Organization. In a statement received by Mawazine News, Foreign Ministry spokesman Ahmed Al-Sahhaf said that "the Permanent Representative of the Republic of Iraq to the United Nations Office in Geneva, Ambassador Abdul Karim Hashem Mustafa, meets with the Deputy Director-General of the World Trade Organization, Chinese Ambassador Zhang Xiangchen, and they discuss ways to Activating the file of Iraq's accession to the organization. He added, "The two sides also discussed the importance of continuing work in completing technical documents to complete the requirements for accession, and to overcome obstacles and challenges facing the accession process." Ended 29/A87 https://www.mawazin.net/Details.aspx?jimare=160205

Iraq discusses with the United Nations accession to world trade Time: 07/11/2021 23:46:16 Reading: 26 times {Political: Al Furat News} The Permanent Representative of the Republic of Iraq to the United Nations Office in Geneva, Abdul Karim Hashim Mustafa, discussed with the Deputy Director-General of the World Trade Organization (WTO) Zhang Xiang Chen to join global trade. And a statement of the Ministry of Foreign Affairs, which {Euphrates News} received a copy of, said, "The meeting discussed ways to activate the file of Iraq's accession to the organization, and the importance of continuing to work in completing technical documents to complete the requirements for accession." He added, "He also discussed overcoming the obstacles and challenges facing the accession process," stressing "the importance of providing the basic elements of a successful accession process, which lie in political will, coordination between ministries and technical assistance programs that hone the skills of the negotiating team." Wafaa Al-Fatlawy https://alforatnews.iq/news/العراق-يبحث-مع-الأمم-المتحدة-الإنضمام-للتجارة-العالمية

Economists call for the issuance of a new Iraqi currency 24/6/2021 13:12:00 Economists call for the issuance of a new Iraqi operation Economists called for issuing a new currency for Iraq and linking it to a basket of currencies to maintain the stability of its exchange rate, without the need to remove zeros from the current Iraqi dinar. The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the Central Bank of Iraq has developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, pointing out that the implementation of the project needs two conditions, the first is price stability and global economic growth, and the second is appropriate stability in Political life. Economic analyst Mazen Al-Ashikar, in an interview with PUKmedia , said that the idea is not to remove zeros from the dinar. We want to issue a new Iraqi currency, and the new dinar could be equivalent to 1000 dinars of the current dinar or more, and this is not a condition that it be linked to deleting zeros. He added, "A new currency must be issued for Iraq that is linked to a basket of currencies, as is the case in several countries in the Middle East, in the UAE, for example, the dirham has been linked to the dollar and its price has been fixed for about 20 years," noting that they suggested that the price of the new dinar be equal to 50 cents of the dollar, and 25 A penny from the Australian pound, and 25 cents from the euro and is linked to the euro, sterling and dollar basket, and in this case, the higher the price of these currencies, the higher the price of the Iraqi dinar, and the dinar will turn into a hard currency, and all government contracts will be signed in dinar and there will be no need for a currency auction that witnesses corruption and thefts.” Al-Eshaiker stressed that it is necessary to issue a new process to stop waste and corruption, and it is not necessary how much its price will be compared to the current dinar price, but the important thing is that it be linked to a basket of currencies, pointing out that “the implementation of this idea is difficult today because there is corruption, but when an honest person comes who manages The country, it can be implemented," stressing that "issuing the new dinar and canceling the currency shrine is a blow to the corrupt, and therefore it is difficult to implement this now." For his part, economic expert Hammam Shammaa said that removing zeros does not achieve economic benefit, noting that the only benefit is to reduce the amount of banknotes in circulation. Al-Shammaa added in an interview with PUKmedia , that removing zeros does not change the exchange rate system, suppose that 3 zeros were removed from the current currency, then each and a half dinar equals one dollar instead of 1500 dinars equivalent to one dollar, stressing that there is no economic return to removing zeros only achieves Ease of dealings, describing those who demand the removal of zeros in the patriarchs, indicating that the removal of zeros means an increase in costs for the state by issuing new currency notes, and the matter does not need to be done as long as things are going normal. PUKmedia / private https://www.pukmedia.com/AR_Direje.aspx?Jimare=160032