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The Finance Committee reveals the mechanism for paying Iraqi debts .. And the Central reveals its policy to control the exchange rate


yota691
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Well it looks like  the window on 2019 is closing !  Still holding hope for the next 2 weeks! If we don’t see some positive movement fairly quick, looks like the dinar go back in moth balls! Another wasted year! Hello 2020! 🤠 JMHO 

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The actual external debt is 24 billion dollars, 

Is this number a lot lower, or am I getting my numbers crossed up ?  I thought this was in the 40 range last reported.

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Dont be confused, there are about 4 things that still nneds to done, can they get them done? Yes, there have been delays already, we have read  about them. I believe they can accomplish these things, ie. Article 8. HCL, Gov. of bank, & seated Gov. to name a few! Can they do it? Yes! The BIG question is will they? I can only HOPE as they are so close. JMHO :praying:

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4 hours ago, Artitech said:

Well it looks like  the window on 2019 is closing !  Still holding hope for the next 2 weeks! If we don’t see some positive movement fairly quick, looks like the dinar go back in moth balls! Another wasted year! Hello 2020! 🤠 JMHO 

 

7 minutes ago, Artitech said:

Dont be confused, there are about 4 things that still nneds to done, can they get them done? Yes, there have been delays already, we have read  about them. I believe they can accomplish these things, ie. Article 8. HCL, Gov. of bank, & seated Gov. to name a few! Can they do it? Yes! The BIG question is will they? I can only HOPE as they are so close. JMHO :praying:

Hang in there my friend. Adam was very positive and that should give us all hope that this should be wrapping up soon.  :twothumbs:

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18 hours ago, yota691 said:

This is threw another translation online not google...Currency experts table Sunday July 7, 2019 98 currency experts Baghdad table / Hussein Tgb of the importance of the Iraqi currency and its impact on the Iraqi economy in light of the current changes held economic studies at the House of Wisdom tagged Scientific Symposium (change the Iraqi currency .. benefits and costs) with the participation of financial and economic affairs experts in the public and private sectors. The symposium was moderated d. Falah Hassan Thuwainy Supervisor Economic Studies Department at the House of Wisdom end of last week with the participation of the financial adviser to Prime Minister D.mzar Mohammed Saleh, as well as Prof. Dr. Mahmoud Mohamed Dagher, Director General of the Department of Financial Operations and Debt Management at the Central Bank of Iraq. The researchers participants addressed the reality of changing the Iraqi currency and reduce the value of the Iraqi dinar, and its significant impact on the Iraqi economy, some describing the reduction as support system" rel="">support for the global economy and some see a deterioration of the purchasing power of the Iraqi people. New policies and spoke appearance of Dr. Mohammed Saleh from the central bank's policy since its inception to now in a concise and clear as the goal of the bank is cash management expectations and how Iraq's oil revenues since 2003 until 2014 continues to improve. He noted "the role of Iraq and the agreements signed with the International Monetary Fund and its impact on the Iraqi economy," and the importance of the need for new policies syndrome with the central bank's policy to reach solutions. Balances and cash, Dr. Mahmoud Mohamed Dagher, the exchange rate system is currently stable and two years ago in Iraq, said the facts about the Iraqi economy in 2019. He promised the decision to reduce the value of the Iraqi currency influential in all cash balances and the real Iraqi economy, because of one of the causes of inflation are fueling expectations and pressures toward continuing its subsequent reductions. Then he talked about the precautions since 2019 to today, then he stopped the stability of the exchange rates for more than a year. He pointed out that "the actual external debt of $ 24 billion, and the annual debt short ranges between 1,5- $ 2 billion." Indeed, the tax warned Dagher that "the decision to reduce the currency risk, because it affects all balances", then go to the tax and customs actually down to the levels of inflation. He said the "monetary measure needs a positive change in the industrial and agricultural sectors, especially that we are financially strong economically vulnerable." Dagher concluded by saying that "the achievement of the currency raises the value of inflation and interest here are the major campaign dollar." Economic sectors either academic d. Thuraya Khazraji said that "which calls for the direction of the devaluation, no doubt that the beneficiary of this thing, not better to walk in this direction, because it is not the welfare of Iraq," pointing out that "some experiments reduced temporarily to overcome the crisis and returned afterwards, do we have the potential to adopt such a ?. " And he stressed "the need for pluralism in building economic and productive sectors, in particular, as well as the activation of other agricultural and industrial policies." Specialist in economic affairs Haider al-Baghdadi said the "financial sector, international experiences is a cornerstone for the stage of economic development pursued by the country, and put such an important topic in front of financial affairs experts is the need to exit the treatment effective, and can benefit from international experiences in this direction, to stand on the merits of the subject and find out the actual interest of it for the national economy. "

Now I understand this article after reading it twice. In a nutshell, there are two competing ideas: to reduce the value of the dinar and the other does not want to as it would affect all cash balances. At first read, I thought they're really planning to reduce the value of the dinar. I was disappointed. lol. Now I feel better. lol

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Iraq is among the most indebted countries to Russia

09:23 - 13/11/2019
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%D8%B1%D9%88%D8%B3%D9%8A%D8%A7-1-696x464

Information / Baghdad

Russian media published a list of debtors to Russia, which included two Arab countries, and the report showed that the countries most indebted to Russia are Belarus, Ukraine and Venezuela.

The Russian newspaper RBC prepared a report based on several sources about the debtors of Russia, according to which 17 countries in the world owes Moscow for 26.7 billion dollars.

Belarus topped the list with $ 7.6 billion in debt to Russia, followed by Ukraine with 3.7 billion and Venezuela with 3.5 billion.

The list included two Arab countries, Yemen and Iraq , and did not include foreign loans granted by Russia to build power stations in the world.

It is noteworthy in the report the absence of Arab countries such as Syria and Algeria, where Russia had announced at the end of last year to write off debts to a group of countries, including three Arab countries are Iraq, Algeria and Syria.

According to a report in the Komsomolskaya Pravda newspaper last December, Moscow has written off $ 21.5 billion in debt to Iraq, Syria $ 9.8 billion and Algeria $ 4.7 billion in exchange for deals in areas such as construction, oil and gas.

https://www.almaalomah.com/2019/11/13/437489/

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  • yota691 changed the title to Iraq is among the most indebted countries to Russia

Economy

Thursday 14 November 2019 10:50 AM
| Read
Planning reveals the size of Iraq's debt during 2019 and the size of unemployment

irq_1157064962_1573717824.jpg&max_width=300

BAGHDAD / ... The Ministry of Planning announced on Thursday that Iraq's debts for 2019 amounted to $ 115 billion, stressing that the government should direct loans and debts to investment development outputs, while noting that the unemployment rate in Iraq reached 13.8%.

Ministry spokesman Abdul-Zahra al-Hindawi said in a press statement that `` Iraq's debts for 2019 amounted to 115 billion dollars, including 43 billion dollars of internal debt and 72 billion foreign debts, '' noting that "there are 41 billion dollars of foreign debt are debt owed to the Gulf countries and countries "The other regime borrowed from the former regime during its wars and does not have any interest and can be written off, and therefore there is $ 31 billion in foreign debt with interest."

He added, "These debts, whatever their size, are a burden on the current and future generation, and the state must fulfill its obligations towards these debts and their benefits." He pointed out that "the government should direct loans and debts to investment development outputs because the loans were previously directed to fill the operational deficit or For the war on ISIS, which reflected negatively on development and investment, which was considered by the Ministry of Planning in its five-year budget in order to make the most of these loans to achieve comprehensive development in Iraq.

On the other hand, Hindawi said that "unemployment rates in Iraq amounted to 13.8% and therefore it must find short and long-term treatments to absorb and reduce unemployment," explaining that "the appointments that the government is talking about except all security within the movements of the owners, amounted to 57 thousand jobs They are covered financially and within the budget, while security appointments amounted to 200 thousand appointees and these will cost the budget annually funds of not less than 3 trillion dinars, except the funds allocated for the purchase of equipment for them and materiel and other things, and this category needs Iraq to achieve security as the security stability there will be stability economic" .

"The government has also worked to create a private sector capable of being a partner for job creation," Hindawi said. "There are actions and decisions taken before the demonstrations on this, which could provide a fertile investment environment."

http://aynaliraqnews.com/index.php?aa=news&id22=126975

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  • yota691 changed the title to Planning: Iraq's debt amounted to 115 billion dollars and unemployment reached 13.8%
 
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Iraq's Ministry of Planning announced that Iraq's debts for 2019 amounted to 115 billion dollars, stressing that the government should direct loans and debts to investment development outputs, while noting that the unemployment rate in Iraq reached 13.8%.

`` Iraq's debts for 2019 amounted to $ 115 billion, of which $ 43 billion is internal and $ 72 billion, '' ministry spokesman Abdul Zahra al-Hindawi said . Other countries borrowed by the former regime during its wars have no interest and can be written off, so there are 31 billion dollars in foreign debts with interest.
 

He added, "These debts, whatever their size, are a burden on the current and future generation, and the state must fulfill its obligations towards these debts and their benefits." He pointed out that "the government should direct loans and debts to investment development outputs because the loans were previously directed to fill the operational deficit or For the war on ISIS, which reflected negatively on development and investment, which was considered by the Ministry of Planning in its five-year budget in order to make the most of these loans to achieve comprehensive development in Iraq .

On the other hand, Hindawi said that "the unemployment rates in Iraq amounted to 13.8% and therefore it must find short-term and long-term treatments to absorb and reduce unemployment," explaining that "the appointments that the government is talking about except all security within the movements of the owners, amounted to 57 thousand jobs They are covered financially and within the budget, while security appointments amounted to 200 thousand appointees and these will cost the budget annually funds of not less than 3 trillion dinars, except the funds allocated for the purchase of equipment for them and materiel and other things, and this category needs Iraq to achieve security as the security stability there will be stability economic" .

"The government has also worked to create a private sector capable of being a partner for job creation," Hindawi said. "There are actions and decisions taken before the demonstrations on this, which could provide a fertile investment environment."
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2019/11/14 10:32
  • The number of readings 137
  • Section: Iraq
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Iraq's debt amounts to 115 billion dollars and unemployment reaches 13.8%

Baghdad / Obelisk: The Ministry of Planning, announced on Thursday, November 14, 2019, Iraq's debt for 2019 amounted to $ 115 billion, stressing that the government should channel loans and debts to investment development outputs, while noting that the unemployment rate in Iraq reached 13.8%.

`` Iraq's debts for 2019 amounted to $ 115 billion, of which $ 43 billion was internal debt and $ 72 billion foreign debt, '' ministry spokesman Abdul Zahra al-Hindawi said. Other countries borrowed by the former regime during its wars have no interest and can be written off, and therefore there is $ 31 billion in foreign debt with interest.

He added, "These debts, whatever their size, are a burden on the current and future generations and the state should fulfill its obligations towards these debts and the benefits arising from them." For the war on ISIS, which reflected negatively on development and investment, which was considered by the Ministry of Planning in its five-year budget in order to make the most of these loans to achieve comprehensive development in Iraq.

On the other hand, Hindawi said that "unemployment rates in Iraq amounted to 13.8% and therefore it must find short and long-term treatments to absorb and reduce unemployment," explaining that "the appointments that the government is talking about except all security within the movements of the owners, amounted to 57 thousand jobs They are covered financially and within the budget, while security appointments amounted to 200 thousand appointees and these will cost the budget annually funds of not less than 3 trillion dinars, except the funds allocated for the purchase of equipment for them and materiel and other things, and this category needs Iraq to achieve security as the security stability there will be stability economic" .


"The government has also worked to create a private sector capable of being a partner for job creation," Hindawi said.

http://almasalah.com/ar/news/182106/ديون-العراق-تبلغ-115-مليار-دولار-والبطالة-تصل-إلى-138

 

 
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Economy

Thursday 12 December 2019 | 01:52 pm

| Views: 70

An economist calls on the central bank to drop the debt interest on the troubled factories

irq_984421365_1576147966.jpg&max_width=300

 

Baghdad / ... member of the Iraqi National Business Council, Ghadeer Al-Attar, confirmed today, Thursday, that the launch of a financial initiative and debt forgiveness is enough to develop the industrial sector.

Al-Attar said in a statement received by "Eye of Iraq News", "The evaluation and success of the industrial reality in Iraq requires several things that must be implemented by the relevant authorities, noting that" the next industrial policy should focus on building local capacities to finance the development of local sectors in manufacturing In addition to "supporting small and medium enterprises providing consulting and financing services programs".
 
Al-Attar added that "the Central Bank of Iraq should launch an initiative to support the industrial sector and enhance the competitiveness of local products, which include providing loans with less interest, and forgiving debt interest from troubled factories, if any."
 
Al-Attar called for "launching the economic reform program in line with the interest in the industrial sector and resolving the crises facing it, preparing the infrastructure and completing all factors related to supporting the national product."
 
It is noteworthy that industrial food production decreased significantly after 2003 as a result of the looting and robberies that took place at that time, in addition to the aging of factories and not modernizing them. Finished 2

http://aynaliraqnews.com/index.php?aa=news&id22=127914

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  • yota691 changed the title to Iraq pays 20 billion dollars of its external debt
 
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 money and business


Economy News _ Baghdad

The Finance Committee announced, on Tuesday, the payment of more than $ 20 billion of the size of external debt owed by Iraq.

The head of the committee, Haitham al-Jubouri, said in an interview with the official Iraqi News Agency "conscious" that "the external debts still on Iraq are 27 billion dollars and 41 billion dollars for Saudi Arabia are not recognized, because they were debts given to the former regime president during the Iran-Iraq war."
 
He added that "the debts on Iraq were more than 50 billion dollars, more than 20 billion dollars was paid during the last period."


Number of views 25   Added Date 12/17/2019

 
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The Finance Committee announced, on Tuesday, the payment of more than $ 20 billion of the size of external debt owed by Iraq.

The head of the committee, Haitham Al-Jubouri, said in a statement to the Iraqi News Agency that "the foreign debts still on Iraq are 27 billion dollars and 41 billion dollars for Saudi Arabia are not recognized, because they are debts given to the former regime leader during the Iran-Iraq war."
 
 
He added that "the debts on Iraq were more than 50 billion dollars, more than 20 billion dollars was paid during the last period."
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Editing Date: 12/17/2019 10:49  518 times read
By numbers .. revealed the debts and foreign loans to Iraq
{Baghdad: Al Furat News} revealed the Finance Committee in the House of Representatives to pay more than $ 20 billion of the size of external debt owed by Iraq.
The head of the committee, Haitham Al-Jubouri, said in a press statement that "the foreign debts still on Iraq are 27 billion dollars and 41 billion dollars for Saudi Arabia are not recognized, because they were debts given to the former president of the regime during the Iran-Iraq war."
He pointed out that "the debts on Iraq were more than 50 billion dollars, more than 20 billion dollars were paid during the last period."
For his part, MP Magda Al-Tamimi revealed the volume of foreign loans and borrowed from the World Bank and other external bodies to support investment and the budget deficit.
Al-Tamimi said: "There is a loan in 2015 worth one billion and 200 million dollars, and in 2016 there is a loan of one billion and 443 million dollars," explaining that "these loans in the two years above are borrowed from the World Bank to support the budget deficit."
She added that "there are other investment loans that were disbursed to some sectors, including health, education, roads, bridges, and ports, in addition to some of them for the reconstruction of the liberated areas," noting that "these loans are not from the World Bank, but are dependent on foreign bodies." other ".
She added that "the total loans to support the investment amounted to 7 billion and 183 million dollars," noting that "there are also loans in Japanese yen and the euro, as the yen loan amounted to 309 billion and 971 million yen, and the euro amounted to 646 million euros."
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Allawi: Iraq 's debt amounted to 48 billion dollars

Economy | 05:19 - 26/12/2019

 
image
 
 

 

Baghdad - Mawazine News
, President of the National Coalition, Iyad Allawi, confirmed today, Thursday, that Iraq's debts amounted to 48 billion dollars, and the next prime minister is supposed to put a solution to pay them.
Allawi said in a radio statement followed by / Mawazine News /, that "Iraq's external debts amounted to 48 billion dollars and should be paid by the next prime minister."
According to the International Monetary Fund, Iraq's debt has worsened over the past years.
And parliamentary and academic circles warned of the dangers of that debt to the Iraqi economy. End / 29 BC

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  • yota691 changed the title to Legal expert: America will not pursue Iraq’s money abroad after settling our debts with it
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The legal expert, Tariq Harb, confirmed on Tuesday that the United States will not go after Iraq’s money deposited in the US federal treasury after all debts have been settled by its debt to its companies.

Harb said in an interview with Alsumaria News, " Five years ago, Iraq made a settlement with the United States of America by paying more than 500 million dollars on all debts claimed by American companies for Iraq."

Harb added, "The agreement provides for America's commitment, after that, not to initiate any lawsuit against Iraq, whether it is administrative, legal or judicial."
 
 
Harb pointed out that " Iraq remains in need of US banking facilities and to cooperate with the US Treasury on what is being reported to Iraq from money laundering operations or financing of terrorism or the inclusion of major financial corruption for some of the personalities."

He continued, " Iraq needs to deal with the US federal treasury and the important financial decisions it issues for Iraq, as it needs to Morgan Bank, which is the main provider of financial services, and it also from time to time informs Iraq of the bodies and people who transferred the money abroad to do After that, Iraq will be audited by the competent authorities in this matter. "
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Legal Expert: America Will Not Go After Iraq’s Money Because Of A Final Debt Settlement With It

 

On January 7, 2020

 

The Independent .. The legal expert, Tariq Harb, confirmed that the United States will not pursue the money of Iraq deposited in the US federal treasury after all debts have been settled by his debts towards its companies.

Harb said in a press statement followed by the " Independent " today, Tuesday, that " Iraq five years ago a settlement with the United States of America paid more than $ 500 million for all the debts claimed by American companies for Iraq."

Harb added, "The agreement provides for America's commitment, after that, to not institute any lawsuit against Iraq, whether it is administrative, legal or judicial."

Harb pointed out that " Iraq remains in need of US banking facilities and to cooperate with the US Treasury on what is being reported to Iraq from money laundering operations or financing of terrorism or the inclusion of major financial corruption for some of the personalities."

He continued, "Iraq needs to deal with the US federal treasury, and the important financial decisions it issues to Iraq, as well as it needs to Morgan Bank, which is the main provider of financial services, as he from time to time informs Iraq of the bodies and people who transferred the money abroad to do After that, Iraq is audited by the competent authorities in this matter. ”

https://www.mustaqila.com/خبير-قانوني-امريكا-لن-تلاحق-اموال-العر/

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01/09/2020 18:56
 

The Finance Committee reveals the mechanism for paying Iraqi debts .. And the Central reveals its policy to control the exchange rate

 

Baghdad / Obelisk: The Parliamentary Finance Committee announced, Thursday, January 9, 2020, a discussion of the mechanisms that must be followed to preserve Iraqi money, pay debts, and the financial situation in light of the tension in the region, during its hosting of the governor of the Central Bank and the Ministry of Finance and the head of the Financial Supervision Bureau.

A statement to the committee said that it hosted the governor of the Central Bank, the head of the Financial Supervision Bureau, the director general of the budget department in the Ministry of Finance and the assistant director general of the Iraqi Trade Bank, TBI , to “discuss the current events in light of the military escalation taking place in the region and its effects on the financial situation of the country and the monetary policy that must be followed To control the exchange rate of the currency in the Iraqi market. "

The statement added, "The Finance Committee heard the guests' presentation after they provided a detailed explanation of the mechanisms that must be followed to preserve Iraqi money inside and outside Iraq."

He continued, "The Governor of the Central Bank indicated that Iraq’s debts were scheduled and paid at the specified times, stressing at the same time that the political positions of Iraq affect, of course, its financial position, whether negatively or positively, and that follows the type of position and the consequent reaction."

The Finance Committee confirmed at the conclusion of the statement, it "seeks to permanently stave off danger from Iraqi money and correct the course of its monetary policy in light of the tension in the region and spare the country to fall into a deadlock that negatively affects its economy and development."

Obelisk

Edited by 6ly410
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58 minutes ago, 6ly410 said:

discuss the current events in light of the military escalation taking place in the region and its effects on the financial situation of the country and the monetary policy that must be followed To control the exchange rate of the currency in the Iraqi market. "

 

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  • yota691 changed the title to The Finance Committee reveals the mechanism for paying Iraqi debts .. And the Central reveals its policy to control the exchange rate
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