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

[Butifldrm]

An economist warns of the dangers of lifting protection from Iraqi money abroad

09:15 - 12/01/2020

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Information / private ..

Economic expert Qusay Safwan warned, on Sunday, of the dangers of lifting protection from Iraqi money abroad, pointing out that Iraq should diversify into foreign currencies and keep its money and bonds away from the risks of economic war.

Safwan said in a statement to the "information", that "facing the American treasury and its penalties in the event of lifting the protection system on Iraqi funds will expose the country to the threats of creditors, especially that Iraq has 32 billion dollars in treasury shares in America, and once the protection is lifted it will be threatened."

He added that "Iraqi funds outside of America can be frozen and creditors demand their dues, and therefore the Finance Ministry is supposed to try to reduce the risks of imposing these sanctions by converting them into assets and bringing them into the local environment in order to avoid the risks of the American embargo."

He pointed out that " Iraq is supposed to avoid sanctions by diversifying foreign currencies and not neglecting the financial protection system in Washington," pointing out that "Iraqi monetary fiscal policy is free in the process of withdrawing funds in Washington, but in practice, Iraq is betting on the strength of the dollar and the stability of American bond prices and the process Transferring the cash reserve to another environment may indicate that the monetary fiscal policy has begun to withdraw from the dollar economic environment and this will expose Iraq to economic risks.

He stressed that "the Iraqi economy is dollar, and therefore it is assumed that there will be a reduction in the severity of tensions, as it is possible to take advantage of the gold reserves to reduce the risks of threatening the Iraqi economy, through trading in this mineral." 25 n ended

https://www.almaalomah.com/2020/01/12/449063/

[Butifldrm]

 

01/12/2020 14:07

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• Section: Iraq
•  

Economist: Imposing sanctions leads to panic among investors and capital

Baghdad / Obelisk: The economist, Abdul Rahman Al-Mashhadani, revealed on Sunday 12 January 2020 what he described as a fatal strategic mistake committed by the Central Bank of Iraq, which would lead to seizing half of the bank's reserves if the United States decided to impose sanctions on the country.

Al-Mashhadani said in an interview with local media, "The United States, if it blocks the access of Iraq to the money of the central bank, which is kept in the Federal Reserve Bank in New York, it is an illegal decision, because the central banks are supposed to have their money protected in accordance with international treaties and agreements, And the Federal Reserve had already made compliance with the treaties granted to independent banks. "

He explained, "There are two types of banks' associations, banks that follow governments and work with the government plan, and this was what the central bank adopted before 2003 as the central bank was affiliated to the Office of the Presidency of the Republic or the Ministry of Finance, and after 2003 a decision was issued in Decree 56 of 2004 granting full independence to the bank Central, "indicating:" It is assumed that the funds of the Central Bank are treated separately from the government. "

He explained, "The big mistake is not from the Americans, but we put our money in the Federal Reserve when our relationship was good with America, and it was supposed to be distributed to more than one party and more than one bank in Britain, France, and China," stressing that "the strategic error that occurred With the central bank is investing half of its reserves in US treasury bonds at a simple interest rate, which is half of 1%, and we are talking about 37 billion dollars, half of the reserve. "

He continued, "The sanctions are supposed to be gradual, as they were imposed on Iran," noting that "the mere announcement of the imposition of sanctions will lead to a state of panic among investors and capital, and this is what happened in the first days when the exchange rate rose to 125 thousand to 100 dollars."

He explained, "This panic caused the central bank to increase its sales from the dollar from 275 to 365, and now the central bank sells almost 300 million, which means the bank's sales are more than revenues."

He continued: "If the central bank's sales remain like this, we will sell six and a half billion, while our oil revenues are seven billion, and the central bank will then be forced to use its reserves to maintain the exchange rate."

Al-Mashhadani added, "In the event that sanctions are imposed on oil, we will only have the ability to withstand 6 months, because our economy does not allow this."

Follow the obelisk

http://almasalah.com/ar/news/185975/خبير-اقتصادي---فرض-العقوبات-يؤدي-الى-ذعر-لدى-المستثمرين-ورؤوس-الاموال

[Shelley]

I guess Central should have a conversation With Mahdi  and Parliament to be. NICE to the hands that help you....  the USA. !!!

 

Thanks Butfldrm 

[Bama Girl]

We are about to see just how badly the crooks want us out of Iraq. 

[yota691]

Researcher reveals the value of external and internal debt to Iraq

2020-01-11

Yassin Iraq: Baghdad
, the president of the independent research group, Munqeth Dagher, revealed today, Saturday, the value of external and internal debts on the liability of Iraq, indicating that the total Iraqi debt amounts to 63 billion dollars.
Dagher said in a post seen by "Yassin Iraq", that "different numbers are circulated in the media and among professionals about the actual debts of Iraq, and to find out the truth, the independent group used Iraqi official sources to identify these debts."
And that "the total Iraqi debt is around 63 billion dollars, (about 28% of the gross domestic product) distributed as follows:
- 38 billion dollars of internal debt.
- 25 billion dollars in external debt, including:
- 10 billion for Paris Club creditors.
- 6.4 billion are divided between the World Bank and the International Monetary Fund.
- 3.1 billion Kuwait compensation.
2.7 billion for America.
- Others.
He added, “There are $ 41 billion from the days of the previous regime, which are (political) loans granted to the former regime (from various countries, the most important of which is the Gulf). Most of these can be extinguished politically. ”

[horsesoldier]

I think this researcher should dig a bit deeper into the MISSING $450 Billion that corrupt Iranian backed career criminal Iraqi politicians " can't explain " ?????????

 

I love a good mystery don't you ? 

[Rochester]

I remember Donald Trump, when he was a private citizen, once said, "I understand leverage."

 

....yes indeed Mr. President, yes indeed.😉

[Butifldrm]

 

01/19/2020 11:04

• Views 246
• Section: Iraq
•  

Advisor to the Prime Minister: Iraq’s debt is about $ 72 billion

Baghdad / Obelisk: Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed on Saturday, January 18, 2020, the size of the external and internal debt of Iraq.

Saleh said in an interview with local media, "The external debt of Iraq is less than 30 billion dollars, and that there is external debt suspended on the Paris Club agreement, which deducted about 80% of debts before 1990, has not been settled."

He added, "Iraq's external debt for the pre-1990 phase, amounting to 128 billion dollars, 80% of which was written off under the Paris Club agreement."

He pointed out that "there are from 41 to 42 billion dollars belonging to the Gulf states and some other countries that go back to before the year 1990, debts outside the Paris Club agreement," noting that they are "outstanding debts that are resolved by resorting to the Paris agreement as a standard agreement for all of the debt of Iraq."

He pointed out that "the debt remaining from the Paris Club agreement is less than 9 billion," explaining that "there are new debts that were arranged as a result of the war with ISIS terrorist gangs, which estimated about 13 billion dollars."

He continued, "The remaining amount for countries inside and outside the Paris Agreement, and for international multilateral financial institutions not subject to the Paris Club agreement, is estimated at 28 billion dollars."

He explained that "their payment will be in the form of payments from the year 2020 to the year 2028, each according to its maturity."

He indicated that "the internal debt of Iraq is estimated at 42 billion dollars for the Central Bank, Rafidain, the TPI, and Al-Rashid."

 

Follow the obelisk

http://almasalah.com/ar/news/186278/مستشار-رئيس-الوزراء-مديونية-العراق-نحو-72-مليار-دولار

 

 

[Butifldrm]

18-01-2020 02:17 PM

Abdul Mahdi's advisor reveals the size of Iraq's domestic and foreign debts

 

 

Baghdad / news

The advisor of the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed today, Saturday, the size of the external and internal debt of Iraq.

Saleh said in a press statement, "The external debt of Iraq is less than 30 billion dollars, and that there is external debt hanging on the Paris Club agreement, which deducted about 80% of debts before 1990, has not been settled."

He added that "Iraq's external debt for the pre-1990 phase, amounting to 128 billion dollars, 80% of which was written off under the Paris Club agreement."

He pointed out that there are from 41 to 42 billion dollars belonging to the Gulf states and some other countries that go back to before the year 1990, debts outside the Paris Club agreement.

He pointed out that "the debt remaining from the Paris Club agreement is less than 9 billion," explaining that "there are new debts that were arranged as a result of the war with ISIS terrorist gangs, which estimated about 13 billion dollars."

He pointed out that "the amount remaining for countries inside and outside the Paris Agreement, and for international multilateral financial institutions not subject to the agreement, the Paris Club is estimated at 28 billion dollars."

He explained that "their payment will be in the form of payments from the year 2020 to the year 2028, each according to its maturity."

He indicated that "the internal debt of Iraq is estimated at 42 billion dollars for the Central Bank, Rafidain, the TPI, and Al-Rashid.

The Finance Committee in the House of Representatives had revealed, earlier, to pay more than $ 20 billion of the size of external debt owed by Iraq.

http://www.ikhnews.com/index.php?page=article&id=207334

[Butifldrm]

Baghdad Post Saturday, January 18, 2020 4:01 PM

 

The financial advisor reveals the size of Iraq’s foreign and domestic debt

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The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, revealed the size of Iraq's external and internal debt.

He said in a press statement: "The external indebtedness of Iraq amounts to less than $ 30 billion, and that there is external indebtedness pending on the Paris Club agreement, which deducted about 80% of the debts before 1990, was not settled."

He explained: "The external debt of Iraq for the pre-1990 phase of $ 128 billion, 80% of which was written off under the Paris Club agreement."

He continued: "There are from 41 to 42 billion dollars belonging to the Gulf states and some other countries dating back to before the year 1990, debts outside the Paris Club agreement," noting that they are "outstanding debts that are solved by resorting to the Paris agreement as a standard agreement for all of Iraq's debts ."

He pointed out: "The debt remaining from the Paris Club agreement is less than 9 billion," explaining that "there are new debts that were arranged as a result of the war on ISIS terrorist gangs estimated at about 13 billion dollars."

He pointed out: "The remaining amount for countries inside and outside the Paris Agreement, and for international multilateral financial institutions not subject to the agreement, is estimated at 28 billion dollars, and that its payment will be in the form of payments from 2020 to 2028, each according to its merit."

On the internal debt of Iraq, the financial advisor explained that it is estimated at about $ 42 billion for the Central Bank, Al-Rafidain, and "TPI", and Al-Rasheed.

F.A.

https://www.thebaghdadpost.com/ar/Story/186996/المستشار-المالي-يكشف-حجم-مديونية-العراق-الخارجية-والداخلية

[Butifldrm]

Iraq reached a settlement agreement regarding the two planes booked in Tunisia

 

Archive

 January 30, 2020 11:30 PM

 

Direct: The Iraqi Minister of Transport announced that an agreement has been reached to settle the issue of the two Iraqi planes perched at Tozeur Nefta International Airport in Tunisia and end the file of funds registered on Iraq because of the   two planes .

He explained  Abdullah Laibi on Thursday that it has been resolved the issue of Iraqi aircraft that have been outstanding for many years without a solution radically after a series of procedures and meetings and follow - up directly, where the crystallization of these efforts for a comprehensive agreement was to stop calculating the material corresponding to the survival of the Iraqi aircraft in Tunis airport , As well as reducing it to 50 percent from the previous period .

This came during the Iraqi Minister of Transport's reception to the Tunisian ambassador in Baghdad, Ibrahim Al-Razqi, to sign an agreement to settle the issue of the two Iraqi planes .

The Iraqi minister stated that the two sides agreed to schedule the payment of financial dues in three phases, according to a joint report to liquidate all outstanding issues regarding the aircraft file and end it .

For his part, the Tunisian ambassador expressed his happiness for ending the file of airplanes and opening horizons of Iraqi-Tunisian cooperation in the field of air transport .

It is noteworthy that resolving the aircraft file in its final form will prevent the depletion of time and money that would have been spent on Iraq, as well as the possibility of selling these planes by Iraqi Airways and benefiting from its sums in enhancing its financial resources .

Nominations ..

https://www.mubasher.info/news/3585556/العراق-تتوصل-لاتفاق-تسوية-بشأن-الطائرتين-المحجوزتين-في-تونس/