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Economist: This is the fate of the (36) billion dollars lost from Iraq

 

Mustafa Al Anbari 08/18/2019 - 16:19 Posted in Economy / Iraq

 

Economist Bassem Jameel Antoine confirmed on Sunday that the 36 billion dollars announced by the United Nations from Iraq during the past six years ended up in the banks of various neighboring countries after being stolen by some parties and can be pursued if the will to do so. "Corruption does not mean that money is not only stolen, but it is allocated to projects that are currently unsuccessful or unimportant, causing huge losses in the current and distant future, and this is what the parties that took power in previous years."

Antoine told (Pasnyoz), that «the (36) billion billion that the United Nations announced the loss of Iraq during the past six years ended up in the banks of various neighboring countries after being stolen by some parties and can be pursued if the will to do so», noting that « There are larger funds have been lost from Iraq and there are no final accounts, especially in the general budget for 2014, and international organizations have a follow-up to such matters because they issue annual reports on the economic situation of the countries, including financial stability as well as the proportion of the country's attractiveness of investments ».

"Corruption does not mean that money is not only stolen, but it is allocated to failed or unimportant projects at the moment, causing huge losses in the current and distant future. "The economic mistake needs two years to discover only and then it takes five years to fix that mistake. The issue is very complicated and yet the parties come out at the time of the elections to talk about magical solutions and after the elections do not implement anything at all."

The UN Development Organization (UNCTAD), the United Nations, has announced the loss of Iraq $ 36 billion in the past six years.

A report by the organization, that «Iraq lost about $ 36 billion during the period from 2013 until the end of 2018 as a result of political instability and security and the ongoing war with ISIS and the rest of the terrorist elements».

The report pointed out that «Iraq lost last year 4.885 billion dollars compared to the loss of 5.032 billion dollars in 2017».

He added that «Iraq also lost about 6.256 billion dollars in 2016 compared to the loss of 7.574 billion dollars in 2015», pointing out that «the year 2014 the largest loss of foreign direct investment, where Iraq lost about 10.176 billion dollars and lost 2.335 billion dollars in 2013».

The report continued, «The Iraqi economy has declined sharply over the past years due to security and political turmoil and wars in the region»

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1 minute ago, 6ly410 said:

Champagne tonight bros let’s go thank you thug haha 

 

Wtf - Why Wait Until Tonight ? :blink:

 

 

 

This Has Been A Heavily Mimosa Fueled Article Posting ! :cheesehead:

 

 

 

With An Ala Mode Ice Cream Scoop For Pitcher On The Side ...

 

ice cream scoops GIF

 

:D  :D  :D  

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Parliamentary Finance: Directed to re-work the coin and delete the zeros from the paper currency

 

By Rudaw 13 hours ago

 

462273Image1.jpg
Iraqi coins that were previously in use

 

Rudaw - Erbil  

announced the parliamentary Finance Committee in the Iraqi parliament, on the trend to re-work in the currency and delete zeros from banknotes, in order to strengthen the economy. 

"During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that were used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again," committee member Hanin al-Qadu told the official Al-Sabah newspaper. 
He continued that "the use of metal categories and their descent for circulation gives a notional value of the currency," saying that "a number of neighboring countries - exchange rates are very high against the dollar - and yet we find that it has a coin in order to preserve the currency and not need to ask for more banknotes, especially With small categories. "

He pointed to the surprise of the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market. 

Ahmed al-Saffar, a member of the committee, said, "The cost of a coin is more than paper money, and it is more difficult to carry it on the citizen." 

He pointed out that "inflation in the economy prevents the minting of coins and make them circulate among citizens," suggesting that "there is a step to delete the zeros preceding the coinage process to be a value for small groups to large." 

The Committee on Economy and Investment in the Iraqi Council of Representatives, revealed in 2014 that the Central Bank completed its preparations for the issuance of coins of seven small categories graduallyin a project that takes between four to five years to complete.

The Iraqi currency was abolished in 1991 when the international economic embargo on the country increased the rate of inflation in Iraq by 1000%, and the situation under the economic siege resulted in a large and continuous rise in prices, which destroyed the value of the Iraqi currency and reaching a very low exchange rate, which made Coin and few currency denominations without value. 

It is noteworthy that the Iraqi dinar, which was equal to 3.22 dollars before Iraqs invasion of Kuwait in 1990, its value fell so that the dollar became equivalent to three thousand dinars by 1996, and the value of the exchange rate of the Iraqi currency significantly after 2003, but returned to stability at about 1200 dinars Per dollar.

link

 

#############

 

Guide to re-work coin


Economy | 09:19 - 19/08/2019

 
image
 
 

BAGHDAD - Mawazine News 

 


A member of the Finance Committee Hanin al-Qadu, Monday, that the use of metal categories and sent down for circulation gives a notional value of the currency. 

"During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that have been used in Iraq over the past decades, rather than the paper that is being destroyed," al-Qadu said. 

He added that "the use of metal categories and their descent for circulation gives a notional value to the currency," noting that "a number of neighboring countries - exchange rates are very high against the dollar - and yet we find that it has a coin in order to preserve the currency and not need to request more papers Cash, especially in small categories. "

Al-Qadu expressed his surprise at the "policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market."

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The Committee on Economy and Investment in the Iraqi Council of Representatives, revealed in 2014 that the Central Bank completed its preparations for the issuance of coins of seven small categories graduallyin a project that takes between four to five years to complete.

 

No matter how you read this, it should be done. WTH are we waiting for ? 

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https://cbi.iq/news/view/1226

A workshop entitled (transfer of liquidity between banks) for the period from 4-2019 / 9/5

 

 

19th August, 2019

 

To / government and private banks all ( transfers of liquidity between banks ) ... 
To view , click here

To all governmental banks A commercial workshop The Center for Banking Studies salute
you due to the importance of the liquidity transfer project between banks and other 
indicators and ratios of the project, which were circulated to the banking system, the
Center for Banking Studies in cooperation with the Department of Financial Operations
and Debt Management in the Central Bank of Iraq will organize a workshop Work on
(transfer of liquidity between the patients) includes practical aspects and how to 
calculate ratios and indicators and analysis of creditworthiness and the workshop will
be held according to the details below.
 
Date of the workshop: 4 - d / ۲۰۱۹/۹.  Venue of the workshop and the Central Bank of Iraq.
 
3. Target Audience: Finance and RiskManagement staff.
 
Lecturers' names: Ahmed Salah Maarouf and Fengal Thamer meeting.
 
Note that the subscription fees (... D) dinars (fifty thousand dinars) per
participant we are transferred the authority to deduct from your account (in Iraqi
dinar open with this bank and you can in principle send the names of your nominee
to the Center for Banking Studies (bxc) @ cbi. Iq
 
Nomination letters will be sent by official mail one week prior to the start of the course, and in the event of nomination,
your staff will be notified at the time and place specified, and we will no longer accept
nominations received on the first day of the session with appreciation.
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LINK     

DEVELOPING AN OIL & GAS POWERHOUSE

 


Following the outstanding success of Powering Iraq, we are delighted to announce The Iraq Oil & Gas Show (IOGS). IOGS is Baghdad’s only conference and exhibition dedicated to Iraq’s hydrocarbon sector. The show will bring together all the key policymakers, government officials, multinationals and the international investor community.

WHY IRAQ OIL & GAS SHOW?


Iraq is well known for its vast natural wealth. With just under 150 billion barrels in reserveit is the 5th largest holder of proven oil reserves in the world. One of the fastest-growing producers in the world, Iraq is second in OPEC only to Saudi Arabia.

Despite grave challenges, Iraq has ramped up production, doubling its output to an average of 4.7 million barrels-per-day. This accounts for a fifth of the net increase in global supply. Additionally, production costs are among the lowest in the world, at just $10 per barrel.

Put simply, Iraq presents a huge opportunity. With production predicted to hit 6 million barrels-per-day in 2025, Iraq is poised to play a leading role in meeting global oil demand in the coming decade. Iraq is primed to become a hydrocarbon powerhouse.

Now is the time to take advantage of the opportunities within Iraq. Join us for a jam-packed, 2-day conference and exhibition focusing on the next steps to develop the oil and gas sectors. IOGS will focus not only on upstream activities but shine a spotlight on the increasing importance of downstream opportunities.

Iraq Oil & Gas Show - 23rd to 24th November, 2019

iraq oil and gas show exhibitiraq oil and gas show event

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Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies

 

image-778.jpg?w=700

 

19th August, 2019

 


A member of the Parliamentary Finance Committee Abdul Hadi Saadawi said in a statement on Monday, August 19, 2019, that the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.

The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin, which has been used for decades in the country, while members of the Committee proposed to pre-empt the coin minting process by “deleting zeros” from the current currencies to be valuable to the small cash categories.

Committee member Hanin al-Qadu told Al-Sabah semi-official newspaper on Monday, 19 August 2019, that during meetings and discussions with central bank officials, we stressed the need to reintroduce coins that have been used in Iraq during the past decades, rather than Paper that is damaged and printed in large quantities again.
He added, that the use of metal categories and their descent for trading gives a notional value of the currency, noting that a number of neighboring countries exchange rates are very high against the dollar and yet we find that it has a coin in order to preserve the currency and not need to request more banknotes, especially those with small categories. He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market.

For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins.

Al-Waeli told Al-Sabah that the committee respects the independence of the central bank and its monetary policy, stressing that the bank has technical autonomy by decision regardless of administrative affairs.

While member of the Committee Jamal Cougar, that all countries in the Middle East and the world have a coin, indicating that this type of currency gives strength to its economy.

Cougar told Al-Sabah that he hoped that the concerned parties could strengthen the currency so that the small groups could have purchasing power in case of using coins. Committee member Ahmed al-Saffar said that the cost of the coin is more than paper, and that it is harder to carry on the citizen.

Al-Saffar told Al-Sabah that inflation in the economy prevents the minting of coins and makes them circulate among citizens, suggesting that there be a step to delete the zeros preceding the coinage process to be a value for small groups against.

It is noteworthy that on 19/12/2018 Hoshyar Abdullah, a member of the Parliamentary Finance Committee MP from the change bloc that the Ministry of Finance did not make any adjustments to oil prices and the sale of oil prices and the dinar against the dollar in the draft budget for the year 2019.

Abdullah wrote on his official page on the social networking site Elvis, that an official letter arrived from the Federal Ministry of Finance to the Council of Ministers, where he kept the price of a barrel of oil at $ 56 and kept the proportion of crude oil daily export by 3.88 million barrels, and the region must export 250,000 barrels of these The rate, pointing out that the Ministry of Finance also kept the price of one dollar against 1182 dinars as it was in the previous draft ..

Abdullah said that the new draft of the general budget does not differentiate from its predecessor and there are no amendments and that Shiites, Sunnis and Kurds did not approve the previous draft and the new amendments do not solve the problems of any of those parties and parties.

Majid Shankali, a member of the Parliamentary Economy and Investment Committee, said earlier that the Central Bank’s recent procedures for selling the dollar in the public auction contributed to raising the value of the dollar against the dinar. Trying to harm the national currency for their own benefit.

Shankali added that the central bank is required to take supportive measures for the Iraqi dinar and to fight those who tamper with the security of the national economy, because the country’s interest is above all else.

Shankali demanded, the government to accelerate the development of the banking and industrial sector, especially what we note these days there is a significant rise in the price of the dollar against the Iraqi dinar, as he put it, calling for investment law legislation to help bring international companies to Iraq to develop infrastructure, while attributed the parliamentary finance earlier The decline in the exchange rate of the dinar against the dollar to the decline of financial revenues belonging to the state from oil sales, indicating that oil was sold at more than $ 100 a barrel and today its price has reached below $ 50 and this means that the revenues decreased by 50%, which affected the exchange rate National.

The Parliamentary Economy Committee said earlier that it discussed with the Central Bank Governor Ali Alaq the main reasons for the decline in the exchange rate of the dinar and effective solutions to the return of stability, noting that the central bank will take new measures to maintain the hard currency and the return of the stability of the exchange rate of the dinar against the dollar, stressing that the sale price The dollar in accordance with Article 50 of the budget reflected negatively on the Iraqi citizen pushed the Finance Committee to demand pumping dollars in the market.

On June 27, 2019, as the FATF Financial Action Task Force (FATF) gave Iran until June of the same year to tighten its laws on terrorist financing and anti-money laundering, there was uncertainty about the actual sources of funding. Star Four, a Texas-based organization, reported on Feb. 13, 2012 that Iran was systematically stealing large quantities of Iraqi oil in the south, and that the thefts had helped the Iranian government overcome its plight as a result of the international economic embargo.

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8-19-2019   Newshound Guru chattels   Article quote:  

"The delegation of the Kurdistan Regional Government will go to Baghdad during the coming days based on the previous mutual visits,

where it was decided to form committees on the oil and budget and Article 140."   

I am slightly hopeful that Mahdi can resolve some issues with the Kurds.

The Kurds seem to like and trust him. 

The political forces opposing Mahdi in Baghdad are substantial.

Many would just as soon crush the Kurds.  

Rightfully or wrongly,

I have believed for a long time that stability in Iraq and the eventuality of our liquidity event depend upon the Kurds indirectly.

Mahdi seems our best hope for stability in Iraq, IMO.

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11 minutes ago, DinarThug said:

Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies

 

image-778.jpg?w=700

 

From Delta ...

 

 

URGENT FROM IRAQI TV:

fireworkes_gif

اللجنة المالية النيابية تعتزم رفع سعر الدينار امام الدولار واعطاءه قوة بين العملات

الأخرى  

Parliamentary Finance Committee intends to raise the 
price of the dinar against the dollar and give it strength 
between currencies Other

 

FAMILY ...IT'S ALL OVER THE NEWS NOW ALL ABOUT RAISING THE VALUE...

DELTA

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17 minutes ago, DinarThug said:

LINK

Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies

 

image-778.jpg?w=700

 

19th August, 2019

 


A member of the Parliamentary Finance Committee Abdul Hadi Saadawi said in a statement on Monday, August 19, 2019, that the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.

The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin, which has been used for decades in the country, while members of the Committee proposed to pre-empt the coin minting process by “deleting zeros” from the current currencies to be valuable to the small cash categories.

Committee member Hanin al-Qadu told Al-Sabah semi-official newspaper on Monday, 19 August 2019, that during meetings and discussions with central bank officials, we stressed the need to reintroduce coins that have been used in Iraq during the past decades, rather than Paper that is damaged and printed in large quantities again.
He added, that the use of metal categories and their descent for trading gives a notional value of the currency, noting that a number of neighboring countries exchange rates are very high against the dollar and yet we find that it has a coin in order to preserve the currency and not need to request more banknotes, especially those with small categories. He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market.

For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins.

Al-Waeli told Al-Sabah that the committee respects the independence of the central bank and its monetary policy, stressing that the bank has technical autonomy by decision regardless of administrative affairs.

While member of the Committee Jamal Cougar, that all countries in the Middle East and the world have a coin, indicating that this type of currency gives strength to its economy.

Cougar told Al-Sabah that he hoped that the concerned parties could strengthen the currency so that the small groups could have purchasing power in case of using coins. Committee member Ahmed al-Saffar said that the cost of the coin is more than paper, and that it is harder to carry on the citizen.

Al-Saffar told Al-Sabah that inflation in the economy prevents the minting of coins and makes them circulate among citizens, suggesting that there be a step to delete the zeros preceding the coinage process to be a value for small groups against.

It is noteworthy that on 19/12/2018 Hoshyar Abdullah, a member of the Parliamentary Finance Committee MP from the change bloc that the Ministry of Finance did not make any adjustments to oil prices and the sale of oil prices and the dinar against the dollar in the draft budget for the year 2019.

Abdullah wrote on his official page on the social networking site Elvis, that an official letter arrived from the Federal Ministry of Finance to the Council of Ministers, where he kept the price of a barrel of oil at $ 56 and kept the proportion of crude oil daily export by 3.88 million barrels, and the region must export 250,000 barrels of these The rate, pointing out that the Ministry of Finance also kept the price of one dollar against 1182 dinars as it was in the previous draft ..

Abdullah said that the new draft of the general budget does not differentiate from its predecessor and there are no amendments and that Shiites, Sunnis and Kurds did not approve the previous draft and the new amendments do not solve the problems of any of those parties and parties.

Majid Shankali, a member of the Parliamentary Economy and Investment Committee, said earlier that the Central Bank’s recent procedures for selling the dollar in the public auction contributed to raising the value of the dollar against the dinar. Trying to harm the national currency for their own benefit.

Shankali added that the central bank is required to take supportive measures for the Iraqi dinar and to fight those who tamper with the security of the national economy, because the country’s interest is above all else.

Shankali demanded, the government to accelerate the development of the banking and industrial sector, especially what we note these days there is a significant rise in the price of the dollar against the Iraqi dinar, as he put it, calling for investment law legislation to help bring international companies to Iraq to develop infrastructure, while attributed the parliamentary finance earlier The decline in the exchange rate of the dinar against the dollar to the decline of financial revenues belonging to the state from oil sales, indicating that oil was sold at more than $ 100 a barrel and today its price has reached below $ 50 and this means that the revenues decreased by 50%, which affected the exchange rate National.

The Parliamentary Economy Committee said earlier that it discussed with the Central Bank Governor Ali Alaq the main reasons for the decline in the exchange rate of the dinar and effective solutions to the return of stability, noting that the central bank will take new measures to maintain the hard currency and the return of the stability of the exchange rate of the dinar against the dollar, stressing that the sale price The dollar in accordance with Article 50 of the budget reflected negatively on the Iraqi citizen pushed the Finance Committee to demand pumping dollars in the market.

On June 27, 2019, as the FATF Financial Action Task Force (FATF) gave Iran until June of the same year to tighten its laws on terrorist financing and anti-money laundering, there was uncertainty about the actual sources of funding. Star Four, a Texas-based organization, reported on Feb. 13, 2012 that Iran was systematically stealing large quantities of Iraqi oil in the south, and that the thefts had helped the Iranian government overcome its plight as a result of the international economic embargo.

Thugs thanks for the cliff notes version. Get those coins out, bring those bills back in. News has been exciting today.  

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Great job opportunities .. Parliamentary “talking” about huge projects in the 2020 budget


WhatsApp-Image-2019-08-19-at-6.13.38-PM-2.jpeg

 

19th August, 2019

 


The MP for the Coalition for Reform and Reconstruction Hassan Khalati, on Monday, for the availability of job opportunities, described by a large budget law 2020.

"The 2020 budget will be a different budget than its predecessors," Khalati said in a statement.
 

He pointed out that "the focus will be in the 2020 budget, on the provision of employment opportunities, and we do not overburden the budget appointments, but the provision of employment through rising projects in which retirement to ensure the workers in these projects and opportunities."

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Support: The poor performance of Iraqi workers is what forces companies to hire expatriates


download-1-2.jpg

 

19th August, 2019

 


The MP on the parliamentary wisdom block Hassan Fadom, the presence of more than 850 thousand foreign workers in Iraq and his sons complain of unemployment, pointing out that what drives companies to employ foreign workers is that migrant workers are more serious to work than Iraqi workers.

"What companies are forced to employ foreign workers is that they are more serious at work, while the manufacturers complain about the absence of Iraqi workers and the excess of their vacations," he said.

He added that "there are foreign labor in Iraq by approximately 850 thousand and at the same time Iraq complains of unemployment and lack of employment opportunities."

He pointed out that "there is no real censorship to encourage the Iraqi labor force and not to find intensive courses for workers in the Ministry of Labor," adding that "Iraqi workers do not have a department concerned with their affairs and there is no law to protect them as well as the lack of educational courses for them."

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