Spiked Camel Kava Java ‘Continued’ !

[DinarThug]

LINK

Electronic payment and citizen confidence

 

 

 

2019/8/4 11:31

by Baklm- Bassam al - Tamimi 

 

When talking about payments, we are talking about the role that offering Almokhtssh institutions, whereby the strengthening of confidence in this product without the other.
 

Here comes the role of several criteria to verify the satisfaction of the recipient to come to this institution at the expense of the other, where you find confidence and security and speed of service and spread are the main criterion for success, as well as to communicate with the new in the field of payments. 

The important thing is when you have an electronic payment company, the first to establish it and represent a successful mixed sector managed according to the best global mechanisms, and under the supervision of the highest government control, you realize that the electronic payment train in Iraq is moving in the right direction. 

This success can be attributed to the positive reactions towards the national company that established the reality of electronic payment in Iraq, and was able to overcome the most difficult barriers and proved to exist, in exceptional circumstances.

And most importantly in the subject of electronic payment that this national company indicates success through the great interaction of the Iraqi family with this national edifice, which has stopped and serves millions and prefer other competitive institutions. 

Today confidence is reflected in the choice to preserve the national security secret, which gave confidence to preserve the data of the most important institutions in the country, and this makes us aware of the role of national institutions in the service of the country, which requires us to work to support these institutions and protect them to promote the payment of electronic and service of the Iraqi family And the national economy.

 

 

Edited August 4, 2019 by DinarThug

[DinarThug]

LINK

IMF urges Iraqi government to cut subsidies on electricity sector

 

4th August, 2019

The International Monetary Fund urged the Iraqi government on Sunday to reduce subsidies on the electricity sector, and protect the poorest and least-income groups, while recommending the need for comprehensive reform of the banking sector

The Central Bank said in a statement received by the "Economic News" a copy of it, "The Executive Board of the International Monetary Fund concluded the article IV with Iraq," noting that "the Council saw that the improvement in the Iraqi economy is encouraging, but acknowledged the serious challenges that still face the country" He said

"Council directors urged that we take advantage of improved security conditions and higher oil prices to implement structural policies and reforms aimed at ensuring macroeconomic and financial stability and addressing long-standing social problems," he said

"Building a strong framework for public finances is necessary to maintain fiscal and macroeconomic stability and to strengthen safety margins," the IMF said, adding that it supports "gradually increasing spending on reconstruction and development in parallel to improving absorptive capacity

The Fund stressed the need for gradual fiscal control, including the containment of current primary spending and increase non-oil revenues to maintain financial sustainability and keep debt within tolerable limits, recommending that containment of increasing the wage bill and reducing subsidies for the electricity sector are priorities in the spending procedures. On protecting the poorest and least vulnerable groups from financial controls

The IMF called for "a comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure large state-owned banks, strengthen supervision and implement other reforms to increase financial intermediation activities

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IMF urges Iraq to cut spending on electricity sector and reform banking system

 

 

A student of the International Monetary Fund, on Sunday the Iraqi government, cut spending on electrical energy sector, as well as a comprehensive reform of the banking sector

The Central Bank of Iraq said in a statement received "tomorrow Press" a copy of it, that the IMF "called to seize the opportunity to improve security, and high oil prices to implement policies and structural reforms, to ensure economic stability

On July 19, the Executive Board of the International Monetary Fund (IMF) concluded its Article IV consultations with Iraq, indicating that current spending is expected to rise by 27 percent in 2019, year-on-year

 

The IMF said that the fund "stressed the implementation of the reduction of subsidies to the electricity sector .. It is a priority in the control of spending, and protect the poorest and the least income from vulnerability to financial controls

On April 30, the government signed a contract worth more than 14 billion euros with the German company Siemens to develop the electric power sector in the country

The country has experienced a deficit in the energy sector during the past years, despite the possession ofreserves of oil and gas, which contributed to fuel public anger, especially in the south, last year

In another context, the Fund called on the Iraqi government "the need to undertake a comprehensive reform of the banking sector in order to maintain financial stability, through the restructuring of large state-owned banks, and strengthen supervision

Article IV of the IMF's Articles of Agreement provides for bilateral discussions with member countries on public finances, strengths and weaknesses, and mechanisms to improve economic indicators[/size]

[DinarThug]

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Officially .. The end of the second legislative term of the parliament and the start of the legislative holiday

 

 

 

2019/8/4 10:34

 

 

The second legislative term of the first legislative year of the Council of Representatives after the extension of a full month.

 

The legislative break began for the deputies and continues for 30 days. 

The Presidency of the Council of Representatives has decided on the second of last July to extend the second legislative term of one month in order to accomplish the task of laws." 

It is scheduled to be the third legislative term begins on 3/9/2019.

[DinarThug]

LINK

Abdul Mahdi and Fouad Hussein understandings lead to the worst budget since 2003 .. Is the state sells its real estate for the rescue?

 

4th August, 2019

Political forces and parliamentary blocs are moving to question Finance Minister Fuad Hussein and his dismissal against the background of the high deficit in the budget next year to 72 trillion dinars, which was a big shock to the government of Adel Abdul-Mahdi, because it put the theories of Abdul-Mahdi, which has long applauded at stake In this budget confusion, which has not happened since 2003.

The Finance Committee in the House of Representatives described the budget being prepared as "the worst in history and represents a setback in the economic reality."

It does not know exactly how the state can deal with this crisis, while ideas that do not seem practical, such as the sale of a number of state properties, the adjustment of the dinar exchange rate, the new circumstances, and the activation of tax collection and taxes to reduce the deficit rates.

A source familiar with the "Reports that have reached indicate an increase in the federal budget deficit for 2020 to 72 trillion dinars."

According to the source, the reasons for the growing deficit in the budget next year is due to security spending, the issue of fixing contracts, daily wages in all ministries, and the return of the separation of the security services, but the main reason is to grant the region A large sum of money by the Minister of Finance, and by order of Prime Minister Adel Abdul Mahdi.

Says a member of the Finance Committee in the House of Representatives Abdul Hadi Saadawi that "there is a significant increase in the expected deficit rate of up to 72 trillion dinars," saying that "this decline was caused by the current government, which followed a fiscal policy will not take into account the planning or knowledgeable in the disbursement of funds." She accused the Finance Committee in the House of Representatives, after the adoption of the 2019 budget law of deliberately concealing detailed budgets of most of its ministries and sub-departments.

In an attempt to deter the deficit in the budget, MP Hoda Sajjad revealed on Thursday, 1 August 2019 on the collection of parliamentary signatures on the claim of the Integrity Commission to open an investigation on the number of employees in the Kurdistan region of Iraq and the falsification of the budget law for the year 2019 Article 10 on the share of the region. And revealed the deputies of the wisdom of huge sums spent for the Kurdistan region, the recognition of the President of the Office of Financial Supervision, and the order of Prime Minister Adel Abdul Mahdi, which supports the courtesy of the Prime Minister of the region at the expense of the budget, which must be divided fairly on the Iraqi people, at a time delaying the region in the payment of dues It is exported from the region's oil.

As deputies, on July 31, 2019 for "serious fraud" in the general budget approved within the House of Representatives, because of "disastrous paper" added to the budget items relating to Kurdistan without passing on the members of Parliament.

[DinarThug]

Al-Asadi calls for re-examination of the proposal of the Central Bank from competent bodies and extended committees that take into account the public interest and support serious investors

 

Policy  ,   2019/08/04 22:35  
 

 

BAGHDAD, Iraq -

Said the leader of the coalition of state law, Adnan al-Asadi that the proposal made by the Central Bank of Iraq to reduce interest on loans granted to investment projects in the past years by 50% and the government to pay this difference, which could reach millions of dollars. 

Al-Asadi said that the above mentioned represents a dangerous precedent, which entails carrying large sums of money that are not specified and at the same time a clear violation of public money and even reward for some of the defaulters. 

Al-Asadi pointed out that "the basic condition in granting the loan for the investment or development project is the commitment of the borrower to implement the project and its operation and the repayment of the loan with the benefits because the donor banks abide by laws and regulations aimed at developing their sources, To overcome these principles and the facts recognized after years of the work of these projects and investment (where some of them generated huge profits on the owner) is only a serious work must stand up and repel. 

And between Asadi "there is fog and lack of transparency, we do not know the specific duration of time; from the contractors investors ?? and the extent of the benefits of them ?? and the quality of the projects implemented so we keep a total on this record and warn of any step towards adoption or included in the law of the general budget as it is The plan is a threat to the interest of the people and the waste of public money and we will take all legal procedures from within the parliament to stand against these recommendations The Asadi demanded "

    Media Office 

 Dr. Adnan Hadi Asadi 

Member of the Iraqi Council of Representatives 

        4 / August / 2019

 

https://www.adnan-alasadi.com/2019/08/blog-post.html?m=1

 

 

 

link

[DinarThug]

Monday ,July 30, 2019

Opportunity to reform the International Monetary Fund

 

 

By José Antonio Ocampo

New York This month marks the 75th anniversary of the signing of the Bretton Woods Convention, which established the International Monetary Fund and the World Bank. For the IMF, this month also marks the beginning of the process of selecting a new managing director to replace Christine Lagarde, who resigned after her candidacy for the post of ECB president. There will be no better moment to reconsider the international role of the International Monetary Fund.

The most positive role played by the IMF throughout its history has been to provide important financial support to countries during the balance of payments crises. But the conditions associated with this support were often controversial. In particular, policies advocated by the International Monetary Fund (IMF) have left Latin American countries in the 1980s and Eastern European and East Asian countries in the 1990s, a stigma to the Fund's programs, which has provoked negative reactions to this day.

It may be said that the stochastic effects of IMF programs are less damaging than the amendments to the gold standard before Bretton Woods. However, the next Managing Director of the International Monetary Fund (IMF) should oversee the ongoing review and simplification of the terms, as in 2002 and 2009.

The IMF also made another valuable contribution by helping to strengthen global macroeconomic cooperation. This proved to be of great importance during periods of turmoil, including in the 1970s, following the abandonment of the fixed exchange rate regime under the Bretton Woods Agreement. In 2007-2009, during the global financial crisis. (The International Monetary Fund also led the process of withdrawing gold from trading in the 1970s and 1980s).

But the IMF has increasingly been referred to a secondary role in macroeconomic cooperation, often led by specialized groupings of the major economies of the G-10, G-7 and, more recently, the G-20, while the Fund has provided the necessary support, including analysis Global conditions. The International Monetary Fund (IMF), and not just those gatherings, should act as a leading forum for international coordination of macroeconomic policies.

At the same time, the International Monetary Fund should establish new mechanisms for monetary cooperation, including regional and interregional funds. In fact, the IMF should in future be the hub of a network of such funds. This network would support the Global Financial Safety Net, which has increasingly emerged in discussions on international monetary issues.

We should also credit the International Monetary Fund for its prudent management of international capital flows. The Bretton Woods Convention has gradually obliged States to reduce trade controls and other current account payments, but not those imposed on capital flows. An attempt to force states to liberalize their capitalist accounts in 1997 was unsuccessful. Since the outbreak of the global financial crisis, the International Monetary Fund (IMF) has recommended the use of certain regulatory controls on capital accounts as a "blanket hedge" tool to manage external finance collapses and collapses.

However, some of the IMF's initiatives, though important, have not lagged behind the impact they should have had. Consider the Special Drawing Rights (SDRs), the only real world currency created in 1969. Despite the important role that SDR allocations have played in creating liquidity and supplementing the official reserves of Member States during major crises, including in 2009, This tool has remained underutilized.

The IMF should rely more on SDRs more actively, particularly in relation to its lending programs, and deal with unused SDRs as "deposits" that could be used to finance loans to countries. This may be particularly important when there is a significant increase in the demand for resources during crises, as it will enable the IMF to effectively "print money", just as central banks do during crises, but at the international level.

This must be accompanied by the creation of new lending instruments, a process that should build on the reforms adopted in the wake of the global financial crisis. As proposed by the International Monetary Fund (IMF) as recommended by the Group of 20 leading global financial governance figures last year, the IMF should set a currency swap arrangement for short-term lending during crises. Central banks from developed countries often enter into bilateral swap arrangements, but these arrangements generally marginalize emerging and developing economies.

Then there are IMF initiatives that have completely failed. In 2001-2003, attempts to agree on a mechanism to exercise sovereign debt collapsed, due to opposition by the United States and some major emerging economies.

The IMF has certainly made major contributions to sovereign debt crises, offering regular analyzes of countries' capacity to pay during crises, and advising them to restructure unsustainable debts. But the mechanism for practicing religion is still needed, and it is important that it be returned to the agenda.

Finally, the IMF needs ambitious reforms of governance. First and foremost, based on the reforms approved in 2010 but not implemented until 2016, UNFPA should ensure that quotas and voting power better reflect the growing influence of emerging and developing economies. To this end, the International Monetary Fund (IMF) should end its practice of selecting only Europeans for the post of Managing Director, and the World Bank should begin to consider selecting non-US presidents.

Lagarde's departure represents a golden opportunity to put the International Monetary Fund on track to a more effective and comprehensive future. To seize this opportunity means more than just welcoming a new face on his head.

José Antonio Ocampo, a member of the Board of Directors of Banco de la Repubblica, the Central Bank of Colombia, a professor at Columbia University and chairman of the United Nations Development Policy Committee. And author of "Restructuring the International Monetary System (Other)" 
https://www.project-syndicate.org

............................ 
* The opinions received do not necessarily reflect the opinion of the informational network

link

[DinarThug]

8-4-2019   Newshound Guru MilitiaMan  Article: 

"Economy of Iraq .. and Abdul Mahdi" 

Quote: 

"It seems that Mr. Adel Abdul Mahdi's plan is to pump money into the market and increase the purchasing power of the individual..."  

The wealth distribution mentioned in this article is off the charts if the case in point is credible.  

It is suggesting they are to be (or are now) pumping money into the markets to increase purchasing power. 

Well pumping money into the markets if at a program rate would not be increasing value. 

In fact that would be the exact opposite, as it would be dilution of the money supply,

having a negative effect on value.  

Thus, where we are at this stage would suggest they are pumping the new small category notes in to the market to add value or at least to the banks,

as we have learned from Frank [Guru Frank26] that the new ATM machines will have new software to handle the new small category notes,

gold, coins, even other currencies to do just that.

That is to add value!

[DinarThug]

8-4-2019   Newshound Guru MilitiaMan   

So with distribution having begun per what the opinion piece suggests,

then, there is no way this is going out to October 

nor is it waiting on Trump, Iran, China, or anyone else for that matter,

except the CBI with Alak still at the helm. imo...

As the FML and amended FML for 2019,

is in place (imo) with the mechanisms established on time with a fully operational GOI and within there time line,

as of today. imo. 

Add in the IMF lifted all exchange restrictions on Iraq back on the 25th real close.

So, let that all sink in and keep us grounded. 

And, lets not forget that International Visa and Master Cards were being issued.

Not for a program rate either!! 

We await the live mechanisms now...

[Synopsis]

One thought that crossed my mind a few years back is that if the Bicraqi Iraqi GOI IS OUT OF SESSION, THEY WILL NOT BE ABLE TO INTERFERE WITH PROGRESS!!!

 

Well, OK, I HAD to get THAT off MY chest.

 

Maybe BABY one could also agree???!!!

 

Halbusi, the Speaker Of THEE Bicraqi Iraqi Parliament, CAN LIFT THE IMMUNITY OF ANY PARTICULAR MEMBER OF PARLIAMENT ACCORDING TO THEE Bicraqi Iraqi Constitution LEGALLY WHEN ANY Parliamentarian IS CHARGED WITH A FELONY WHEN THEE Bicraqi Iraqi Parliament IS OUT OF SESSION!!!

 

WHAT ELSE, pray tell, CAN Halbusi DO when THEE Bicraqi Iraqi Parliament IS OUT OF SESSION???!!!

 

WE SHALL SEE!!!

 

Maybe BABY !!!BAM!!! !!!SUDDENLY!!!???!!!

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

Edited August 5, 2019 by Synopsis

[DinarThug]

https://cbi.iq/news/view/1222

The rise of bank assets to more than 120 trillion dinars

 

 

5th August, 2019

 

The Central Bank of Iraq announces the increase of the assets of banks during 2018 by 10% compared to 2017 to exceed 120 trillion dinars equivalent to (100 billion dollars), indicating the increased confidence of depositors in banks, which reflects positively on the development of the performance of banks and its contribution to the development of the Iraqi economy. 

 

The bank explains that its strategic actions have contributed to increasing confidence in the banking sector and improved financial coverage, which has been reflected in the growth rate and steadily increasing bank assets and deposits. Adding that this rise came from mutual trust between citizens and the banking system through the development of attracting cash deposits and commercial operations to banks more .

 

It is worth mentioning that the Bank has made accounting adjustments to the total assets of commercial banks in accordance with the International Accounting Standards as of January 2012 .

 

Central Bank of Iraq

information Office

5 August 2019

 

 

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CBI announces the rise of bank assets to more than 120 trillion dinars

 

 

5th August, 2019

The Central Bank of Iraq, Monday, the rise of bank assets to more than 120 trillion dinars.

The bank said in a statement received by Al-Madar  that the assets of banks during 2018 rose by 10% compared to 2017 to exceed 120 trillion dinars equivalent to $100 billion,"indicating that "this indicates to increase the confidence of depositors in banks, which reflects positively on the development of performance Banks and its contribution to the development of the Iraqi economy'.

He added that 'the strategic actions taken by him have contributed mainly to increase confidence in the banking sector and improve the rates of financial coverage, which reflected on the growth rate and the rise of bank assets and deposits steadily', continuing that 'this rise came from mutual trust between citizens and the banking system through the development Attract cash deposits and commercial operations to banks more '.[/size]

[DinarThug]

LINK

The stock market stopped its activity for five days

 

5th August, 2019

 

The stock exchange announced on Monday, the suspension of its activity for five days on the occasion of Eid al-Adha

"Due to the approaching Eid al-Adha holiday, the exchange's management has decided not to organize trading sessions for the days from August 11 to August 15 due to the Eid al-Adha holiday," the stock exchange's management said in a statement received

The statement added that "the first trading session in the Iraqi market for securities will be after Eid al-Adha and from Sunday, 18/8/2019

 

 

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The document .. The Iraqi market for securities halts its sessions starting next Sunday

[DinarThug]

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Parliament Speaker: Held 65 sessions in the first legislative year and passed 20 laws

 

 

 

2019/8/5 12:35

 

Speaker of the Parliament, Shaker Hamid, announced the achievements of the current House of Representatives during the first legislative year of the fourth parliamentary session which ended on Sunday.  "The laws that came from the government during this legislative year were 83 laws, 20 of which were voted by the parliament," Hamid told a news conference. 

He added that "the number of additions in the parliamentary committees amounted to 378 hosting, while the questions of parliamentary editorial in the first legislative term was 51 questions and verbal 14 questions," pointing out that "the questions in the second legislative term was 75 questions and 13 questions.  Hamed pointed out that "the most important laws voted on is the financial budget for 2019," noting that "the laws that have been read a second reading is the law of the Federal Supreme Court, the Code of Information Crimes, the Law of the Information and Communication Authority, the Law on the treatment of housing abuses, the law of graft}".

He added that "the activities of the presidency of the parliament field local, regional and international started from Basra, Najaf, Mosul, Babel, Anbar, Washington, London, Germany, Qatar, Jordan, Egypt, UAE, Kuwait, Iran and Turkey."  He promised "the most prominent achievement of the work of parliament is the convening of the Baghdad summit of parliaments of neighboring countries."

 

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Presidency of Parliament announces the harvest of the two chapters: 20 laws and 368 hosting     LINK

[DinarThug]

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Habib: not to settle the bag of education form "heartbreak} in the hearts of deputies

 

 

 

2019/8/5 12:15

 

 

The Secretary-General of the Iraqi National Congress MP Aras Habib Karim, said on Monday, he hoped that the second legislative term of the House of Representatives will not end without resolving one of the most important ministries to build the minds of the new good.
 

Habib said in a statement received by the agency {Euphrates News} a copy of it, "The second legislative term of parliament ended, after being extended for a month in the hope of resolving some outstanding issues, and we were able to achieve success on a number of important issues if the level of legislation Or decisions, but the lack of good education form form of "heartbreak" in the hearts of most deputies." 

"I personally wished that we would not end the second legislative term of parliament and the government still lacks one of the most important ministries to build the minds of the new generation that we are betting on in leading the country's future."

 

 

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The National Congress: Not resolving the bag of education form a heartbreak in the hearts of deputies

 

 

5th August, 2019

 

Iraqi National Congress (INC) MP Aras Habib Karim said on Monday that he hoped the second legislative term would not end without the Ministry of Education's decision.

Habib said in a statement received by Al-Maaloumah that the second legislative term of the parliament was completed after it was extended for a month in the hope of resolving some outstanding issues. Decisions, but the lack of good education bag form (Hasret) in the hearts of most MPs."

Habib added, "How I personally hoped that we will not end the second legislative term of the parliament and the government still lacks one of the most important ministries to build the minds of the new generation we bet on leading the future of the country."

[DinarThug]

LINK

President of the Republic: The reality of schools in Iraq is unacceptable and government performance will not suffice

 

 

5th August, 2019

 

The President of the Republic, Barham Saleh, on Monday, the reality of schools in Iraq is unacceptable and that government performance is not enough. 

"We have difficult challenges and the reality is difficult, and the presence of Minister Qusay al-Suhail at the top of the pyramid will contribute to improving the level of education," the president said during a ceremony honoring the early students at the Peace Palace.  He added that "the Iraqi experience is unique because the Iraqi adherence to life and superiority, even if the two countries passed what Iraq went through to collapse completely, but Iraq remained steadfast and through it thanks to sacrifices." 

Saleh said to the students: "You will be the new phase, and you will be clear, you build Iraq, and you face challenges and difficulties, I bless myself, Iraq, and your families, your success."  He pointed out that "the reality of schools in Iraq is unacceptable and government performance will not be enough."

 

 

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Saleh: Our reality today is not in line with the aspirations of Iraqis

 

 

 

2019/8/5 15:22

 

 

The President of the Republic Barham Saleh stressed the Iraqis' commitment to excellence and creativity, and overcome the most difficult circumstances thanks to their great sacrifices. "Today we have tough challenges and tougher realities, but your challenge has been great and your success is the best response," President Saleh said in a speech at a ceremony honoring the top students of the preparatory stage of all the provinces set up by the presidency. "The Iraqi experience is unique because the Iraqi is adhering to life and excellence, even if the countries have gone through what Iraq has gone through to completely collapse." 

The President of the Republic said, "I am very happy to meet you here at the Palace of Peace. I congratulate you for this success and excellence and I congratulate you and your people for your success. Iraqis bunga Rule and excellence, which shows that it shows our success and excellence in you, not only for your people but for the future of this country, noting that "your excellence achieved under difficult and compelling circumstances, and what you achieved is an achievement that we cherish as Iraqis, and me as President of the Republic." He pointed out that "we are subjected to compelling and difficult circumstances of tyranny, arbitrariness, discrimination, mass graves, chemical bombardment, extermination campaigns, and so on." 

Saleh said that the Iraqis deserve much better, and what we have today achievements and progress is the sacrifices made by your parents and our previous generations in order to give you a chance to build an Iraq befitting the Iraqis, an Iraq regains its former glory of civilization and leadership in all fields. He continued, "We celebrate you and breezy in you all the good for the future of the country, and personally proud of this day, when he heard the stories of your superiority different I remembered the moment when I received the results of public examinations, where unfortunately at that time the conditions of tyranny and we did not have the opportunity to honor the presidency of the Republic, and was my rate (96.6%) and won the first place on Sulaymaniyah, the first on the Kurdistan region or what was known as (autonomy) at the time, and the third on Iraq. 

"In the presence of my brother, the Minister of Higher Education, who is also the Minister of Education and Agency, I want to talk to you about our reality today, which is inconsistent with the expectations and aspirations of the Iraqis, they deserve much more than they are today from the level of education, health and services to other issues." "We have challenges not only a few difficult circumstances, I know the reality of schools and this reality is unacceptable, but I am confident our government and the Minister of Higher Education and Education Agency will insist on upgrading the reality of education," noting that government performance will not be enough, and people in order to overcome the bottlenecks that hinder our work to reach our country into what it deserves the status and consideration." 

Turn the price of the Minister of Higher Education and scientific research and Minister of Education agency Qusay al - Suhail support and patronage of the President of the educational process.  He said al - Suhail speech on the occasion that" the President of the Republic was supportive of my work Educational, and was familiar with all of what is happening in the ministries of education and education because it is an academic, and a race in the interest of students and the situations follow - up to their own affairs." "Suhail said that "superiority is not the end, it is a way to start and a new stage,"noting that "Iraq has undergone difficult challenges, but the feature of Iraq is always excellence."

[DinarThug]

LINK

Fatlawi: fiscal surplus of previous years will reduce the budget deficit 2020

 

 

5th August, 2019

 

A member of the Committee on Labor and Social Affairs Fadhil Fatlawi, Monday, that the fiscal surplus of previous years' budgets will reduce the fiscal deficit of the draft federal budget law for 2020 to below 30 trillion dinars.

Al-Fattalawi said in a statement that the "budget deficit of 2020, which the ability of 72 trillion dinars, the adoption of the price of a barrel of $ 56," pointing out that "the budget next year will be less than $ 50 a barrel to avoid a rise in fiscal deficit."

He added that the "deficit rate at the current hypothetical and not absolute fact," noting that "the fiscal surplus for the 2018 and 2019 budget will contribute to reduce the fiscal deficit in the budget of 2020 to below 30 trillion Iraqi dinars."

The parliamentary Finance Committee revealed, earlier, the existence of a large deficit in the budget of 2020 up to 72 trillion dinars, after a year described prosperity was a deficit of 27 trillion speculative compared to what is expected next year.

[DinarThug]

LINK

Parliamentary Planning: The supplementary budget targets the fiscal deficit for 2019

 

 

5th August, 2019

 

The Parliamentary Planning Committee confirmed on Monday that the supplementary budget will be approved to target the fiscal deficit in the federal budget law for the year 2019, pointing out that the beginning of next month will be a date for studying the supplementary budget items.

Committee member Mohammed Karim said in a statement to the information that the 2019 budget has witnessed a rise in its financial deficit without achieving concrete projects among citizens, pointing out that the House of Representatives will review all projects that have been implemented in the 2019 budget to see completion rates.

He added that "the House of Representatives will approve the supplementary budget to target the fiscal deficit for 2019 and complete service projects," noting that "the beginning of next month will be a date to study the items of the supplementary budget in detail within the House."

The parliamentary finance committee revealed earlier that it seeks to approve a supplementary budget in the coming months to address some of the imbalances in the performance of the government in the field of appointments, noting that the supplementary budget will oblige the government to install electricity contracts and the Electoral Commission.

[DinarThug]

LINK

Deputy for: the amounts of the Kuwait conference will arrive soon and reconstruction in Nineveh in the coming days

 

 

5th August, 2019

 

MP Nineveh province, Thabit Mohammed, said Monday that the province will witness in the coming days the launch of service projects and reconstruction campaigns, pointing out that the amounts of the Kuwait Conference for the reconstruction of the affected areas will arrive soon after the visit of Halbousi to Kuwait.

Mohammed said in a statement to the information, that "the budget allocated to Nineveh has arrived in the province and began to work in small projects represented by campaigns cladding in the streets affected by terrorism, and roads within the city center and districts."

He added that "the amounts were distributed according to a plan prepared in advance, but they represent a very small proportion of the ambition and need of the province, as the amounts of the operating budget is not sufficient and can not save Nineveh from the devastation caused by terrorist operations."

"The last days witnessed the visit of Speaker of Parliament Mohammad Al-Halbousi,accompanied by some governors of liberated provinces, to Kuwait, where it was confirmedthe arrival of funds allocated at the Kuwait Conference for the reconstruction of the affected areas, and it is likely that the projects will start in the next few days."

[DinarThug]

So Let’s See What This mAshat Has To Say !  

 

     

 

 

 

LINK

Mashat calls for transforming the economy from rentier to free

 

 

5th August, 2019

 

A member of the Board of Directors of the Iraqi Economic Council Baqr Almstat, on Monday, the need for the direction of the government towards the free economy through the activation of a solid investment environment and cooperation and coordination between the public and private sectors. 

In a statement received by Mawazine News, Mashat said, "The creation of a special division in the Secretariat of the Council of Ministers, especially follow-up steps of transition and cooperation between all parties to make this a success."  He called on the private sector, particularly the banking sector, to "support these trends by providing financial guarantees to attract companies and foreign investors." 

He added that "now is the best timing to support these government orientations, especially that the citizen began to tune in with these actions, which ultimately pours in his favor."

[DinarThug]

And Speaking Of mAshat’s !  

 

     

 

 

 

LINK

The US ambassador to Baghdad responded to the possibility of Maliki's inclusion in the sanctions list

 

5th August, 2019

 

Iraqi media have asked the US ambassador to Iraq, Matthew Toler, about the receipt of information indicating the intention of the United States to include former Prime Minister Nuri al-Maliki in the list of possible sanctions coming.
 

Toler said during a meeting with a number of journalists at the US Embassy in central Baghdad on Sunday that "the US administration used the powers of sanctions several times before use in Iraq," asserting that "the four figures that have been sanctioned, carried out acts that weaken the role of Iraq",According to the site "NAS".

"We do not apologize for imposing sanctions and what we have done supports Iraq's sovereignty, as their actions have affected the stability of the country," he said

Toler declined to comment when asked about the inclusionof former Prime Minister Nuri al-Maliki in a new list of sanctions intended to be issued

As for a US investigation into al-Maliki, he said that "it is not possible to confirm or deny this because of his involvement with the law enforcement," stressing that "Washington has no authority to carry out any activity except in coordination with the Iraqi government

The sanctions extended to Rayan al-Chaldani (leader of the Popular Mobilization faction of Babylon), Waad al-Qadu (leader of the Popular Mobilization of the Shabak component), Ahmad al-Jubouri (Abu Mazen) (former governor of Salah al-Din) and head of the parliamentary Axis coalition. Required for the Government of Baghdad following the incident of sinking the ferry that killed about 200 citizens from Mosul

 

 

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Will America include Nuri al-Maliki in the list of sanctions?  LINK

[DinarThug]

IRAQ: Integrity Commission recovers $ 1 billion from public funds

- 3 Hours Ago

 

 

 

BAGHDAD (Reuters) - Iraq's Integrity Commission announced Monday that it had recovered more than $ 1 billion in the first half of this year, a move that reveals the extent of corruption in the country. 
According to the agency, "Reuters", that its investigations led to the issuance of judicial authorities 857 arrest warrants, of which 407 executed during the first half of this year, according to an official statement.

The statement confirmed the issuance of 34 orders for the recruitment and arrest and arrest and the transfer of ministers and their rank. The report of the semi-annual body that "the public funds recovered, or issued judicial rulings refund, which prevented and stopped the waste, which was returned to the account of the Treasury, totaling more than trillion dinars during this period," in reference to the first half of the year Ongoing.

An official in the Office of the province of Mosul in previous statements to "the new Arab", the next period pave the way to open 13 files of corruption in several sectors, the country has caused about 100 billion dinars (84 million dollars) less than two years, noting that a section of former officials In the province were effectively prevented from leaving the country, and others were being questioned. 
The official pointed out that the Integrity Commission and the offices of the Inspector-General of the Ministry of the Interior are involved in investigating several corruption cases in Mosul. "There is involvement of officials and politicians in some of these files," he said, adding that the file of the displaced, rehabilitation of infrastructure and lifting of the remnants of war, From high rates of poverty and unemployment.

The member of the Council of Mosul Ahmed al-Omari said that the issue of financial corruption in the province, specifically in the files of displaced persons, increased during the period leading up to the liberation of the city from the grip of the organization, "Dahesh" and then, and the former governor Nofal Akakob bear responsibility for that, indicating in an interview with " That "embezzlement of the funds of displaced people is shameful and a double crime must be dealt with quickly by the judiciary," according to him.

"Corruption in the IDP file has caused many deaths and increased suffering of people fleeing conflict areas in recent years," he said.

Iraq has been plagued by corruption for years and ranks 12th among the most corrupt countries in the world, according to Transparency International. 
Since 2004, a year after the US-led invasion overthrew President Saddam Hussein, nearly $ 250 billion of public funds have disappeared. Parliament said the money went to the pockets of a number of politicians and businessmen.

This amount is double the government budget and more than the country's GDP. The Integrity Commission is having difficulty monitoring funds that have come out of the state treasury, including funds earmarked for the reconstruction of the country, which has been ravaged by years of war.

A week ago, the NIA revealed that the former governor of Nineveh, Nawfal al-Aakoub, escaped from justice, siphoned off 11.3 billion dinars (9.4 million dollars) of funds earmarked for displaced people in the province, which was the stronghold of the Dahesh organization.

In April, the agency announced the loss of nearly $ 60 million from the Nineveh province budget embezzled by officials close to the governor, before he was sacked after a ferry sinking in Mosul.

The New Arab

link

 

Edited August 5, 2019 by DinarThug

[DinarThug]

Will the deletion of zeros of the national currency address the Iranian economy?

 Monday, 05 August 2019

 

 

Special: Translation - محمد Building:

 

A "spiritual" government has ratified the deletion of four zeroes from the national currency, and the subject is due to be referred to the "parliament" under the urgent item.

On January 5, 2019, Abdel Nasser Hamati, the head of Iran's Central Bank, proposed to the government to delete the four zeros from the currency and the national currency and to recognize the Toman as the country's official currency. He hoped that the Government would approve the proposal. According to the Persian-speaking American Radio Al Ghad.

Not the first time of the proposal ..

In fact, this proposal is not new, as it has been repeated after the fall of the value of "Real" in the second term of the late, "Hashemi Rafsanjani", the deletion of zeros from the currency.

Also in 2011, during the second term of the former president, "Ahmadinejad", the Iranian "Central Bank" headed by "Mahmoud Bahmani" launched a website to poll the public about the deletion of zeros from the national currency.

This policy is used in many countries, especially after rising liquidity and inflation in a manner that devalues the national currency, as in Brazil, Argentina, Ukraine, Turkey and others.

The deletion of zeros is accompanied by a change of currency name. The question is: If this proposal is implemented in Iran, and the four zeros of the riyal are deleted, does it eliminate the economic difficulties of the state such as stagnation of production, unemployment and high prices? To answer, we must know whether the action is limited to deleting zeros only or is accompanied by With other structural policies, and perhaps a precedent for this decision? .. Is it also makes the decision to deal with citizens more easily, both in the process of selling and buying or carrying and transfer of funds? .. Does the decision reduces the government expenses in printing currencies, especially since the number of currencies in the cycle The Iranian economy is more than twice the number of currencies in developed countries.

Not a complete cure ..

The fact that the deletion of zeros from the national currency will not be the only cure for the economic diseases of Iran. It is true that currencies with fewer zeros will reduce the volume of liquidity and cost, but this is a change in shape; while the disease remains.

For example, Argentina and Brazil have repeatedly reduced the zeros of their national currencies and are still suffering from inflation and high prices. Deprivation of zeros without structural reforms or even changing the national currency will not lead to positive results. On the contrary, it will increase inflation, inflation and fall in the value of the riyal. Without structural work, the psychological momentum will be reduced to delete zeros of the national currency. Reform; and may not care about the future on the real reform policies .. Whether it was proposed to delete the zeros of the four national currency from the head of the "Central Bank" or the government, has not been until the moment of any reform policies.

Under economic sanctions, the system does not seem able to undertake economic reforms, even if it wants to.

According to the figures of the "Research Center Parliament", not only failed to achieve the Iranian economy to achieve growth in the year 2019, but recorded a decline of 5.5%, how to remove the zeros from the "Real" problem?! .. It is most likely that this process is no more than propaganda The political goal is to create a state of psychological momentum among people.

The central bank and the government launched an extensive electronic advertising campaign and put pressure on free trade to influence the supply and demand of foreign currencies. Thus, the deletion of zeros from the national currency is a formality and will succeed only after a long series of legal, financial and economic reforms. The Turkish experience can be used in this regard.

Making use of the experiences of Iran's neighboring countries.

At the beginning of 1980, the Turkish people suffered severe inflation, so that the purchase of bread, in the year 2000, required the payment of millions of lira.

In 2005, Turkey removed five zeroes from the national currency; previously it cooperated with the International Monetary Fund (IMF) to make radical reforms, particularly in the structure of government costs and the banking system, and thereby succeeded in drastically reducing inflation.

The elimination of zeros from the Iranian currency would not result in any gains without launching structural policies aimed at building a market-oriented economy.

link

[DinarThug]

Israel declares Iraq an open ground for its military operations against Iran

 

 
Monday, 05 August 2019

 

 

 

Baghdad - Writings

 

 

The opening of diplomatic and political track between Baghdad and Tel Aviv and the recognition of the targeting of military sites in Iraq .. Information confirmed by the Hebrew newspaper on Monday, August 5, 2019, quoting Israeli expert Jackie Khoji.

Jackie said that his country recently opened these tracks with Iraq through several letters sent to Baghdad, pointing out that there is a convergence between the Iraqis and Israelis currently on social networking sites.

He pointed out that positive messages were sent last year through official correspondence on behalf of the Ministry of Foreign Affairs and broadcast cordial feelings, showing that Tel Aviv is seeking to establish a channel of communication with the Iraqi people, and soon with his leadership, he said.

One of these messages was sent by the Israeli Foreign Ministry in Arabic to offer condolences to the Iraqi victims of the bombings in Baghdad, or its blessing to Iraq in the wake of UNESCO's declaration of the Gardens of Babylon as a world heritage.

It is noteworthy that the Israeli expert confirmed the implementation of his country's attacks on Iraq affected the Iranians and elements of factions affiliated with them, pointing out that it is not targeting the Iraqi army, but Iran, which said that it hid in its military bases deployed in Iraq long-range missiles estimated hundreds of kilometers, which will not be allowed by Israel.

Jackie compared the security and political situation now in the region during the period when Saddam Hussein headed Iraq and threatened Israel with Scud missiles, but this time Iran's missiles are more accurate and dangerous to Iraq after it seized control politically and security to implement its expansionist agenda in the region.

The Israeli expert revealed the readiness of his country these days to wage a huge battle not aimed at the occupation of Iran, but painful blows to destroy its missile capabilities and nuclear threats by the use of some friends, led by the United States and some Arab countries, pointing out that the battle begins in Tel Aviv through the Gaza Strip to Beirut, and then Damascus to Baghdad and to Tehran.

The editor of Arab affairs in the Israeli Army Radio said that the Iraqi government suffers from the intensity of the Iranian penetration, terrorism and corruption, but it works democratically. Washington, which overthrew Saddam Hussein 16 years ago, still sees Iraq as a friendly and supportive country.

link

[DinarThug]

Iraq at the forefront of neighbors .. Map of Iranian foreign trade!

 

 Saturday, 03 August 2019

 

 

 

Special: Translation - محمد Building:

 

The development of cooperation with neighboring countries in relation to foreign trade is of particular importance for two reasons:

The larger the geographical gap, the greater the cost of shipping and other commercial costs. Moreover, raising the levels of trade and economic relations means linking political and security understandings, which will increase the importance of trade and economic relations between neighbors. According to Kiwan Kashfi, a member of the Presidential Chamber of the Chamber of Commerce, in his analytical article in the reformist newspaper Democracy.

Kiwan Kashfi

Iraq at the forefront of neighbors ..

Iran can not be excluded from this rule, especially under the current sanctions, as the trade with Iran's neighbors is more important than ever before.

According to Iran's foreign trade statistics, to date, despite the high level of trade with neighboring countries, we have not been able to optimize the capacity of the consumer market, which is about 400 million people, and other major trade and economic capabilities.

According to the latest statistics, the Iranian exports to the number of 15 neighboring countries, about $ 24 billion, or 2% of the total imports of neighboring countries.

Iran's exports to the countries of "Iraq, Afghanistan, Pakistan, Azerbaijan, Kuwait and Bahrain" rose to 36% last year, while Iranian exports to the UAE, Turkey, Turkmenistan, Russia, Qatar, Armenia, And Taghikistan.

In the spring of this year, Iran's foreign trade statistics contain a number of important points.

Iran's export market improves ..

In the new year, after the reinstatement of increasing international sanctions and restrictions on the Iranian economy, Iran's foreign trade, especially in the export sector, was expected to decline significantly, but the improvement in exports in a number of sectors, including the exchange rate with some neighboring countries.

The most important reasons for improved performance; the modification of difficult policies, the announcement of the "Central Bank" on the political basket, and the issuance of licenses to take advantage of the various methods in the currency cycle resulting from exports.

These changes reflect the development of export development areas, especially non-oil, with neighboring countries after facilitating procedures.

Indeed, the intensity and demand in the neighbors' markets prompted the commercial legislator to focus on the goal of increasing Iran's share of these markets. During the first quarter of the year, trade statistics showed a marked improvement in Iranian exports to the Turkish neighbor, which doubled five times over the same period last year. In fact, this export boom made Turkey third in terms of Iranian export destinations. China and Iraq ranked first and second, with Iranian exports achieving 18% growth for China and 35% for Iraq.

There is no doubt that the large Iranian exports of "Iraq", during the past year, which recorded $ 9 billion, requires the attention and maintenance of the provisions and the absence of economic, commercial and political risks.

The Afghan market and Iranian exports, amounting to $ 6 billion a year, call for special attention and work to strengthen the other advantages of maintaining a share in this eastern neighbor market by developing Afghan transport routes.

Meanwhile, Iranian import statistics this spring show that China, UAE and Turkey occupy the top three positions in terms of Iranian destinations, followed by India and Germany.

The emerging Syrian market

One possible potential, which has not yet blossomed, is Iranian exports to the Syrian market. Syria is a modern economic market in the Middle East that has slowed the pace of reconstruction after the civil war and demands more goods and services, particularly technical and engineering.

In the meantime, the experience of the Central Asian States and independence over the past three decades is still in our minds.

At the time, Iran began a significant movement in the markets of these countries, but eventually lagged behind other competitors. It is hoped that these experiences will contribute to the improvement and acceleration of the "Iranian-Syrian" trade.

link

[DinarThug]

Iraq today receives serious information about the Iraqi ship's passengers detained by the Revolutionary Guards yesterday

 

 

Policy  ,   2019/08/05 14:43   

 

 

BAGHDAD, Iraq -

Iraq today has received important and even dangerous information about the Iraqi ship's passengers, who were detained yesterday by the Iranian Revolutionary Guard, which smuggled oil and gas from Iran and Iraq. Our sources in Khor al-Zubayr, supported and supported by private sources, The ship, which was seized yesterday on the Iranian island of Farsi, is actually an Iraqi ship. It is working with a group of other smuggling vessels for two Iraqi companies. The first is the Sea Crown Company, which is operated by Captain Saad Faisal, this is the detailed information about these Hip:

Capt Saad Faisal Ibrahim Sea Crown For Marine Services & General Trading Ltd. 

Web: http://www.sea-crown.com/

Address: Iraq- Basrah / Al Jaza'er street, Hai Amman district Opposite of Maxi Mall, building 

no.25

The second company that smuggles Iranian and Iraqi oil is also the company (Casco Krupp, Khor Al-Zubair), which is owned and managed by Ahmed Al Janabi, and this information about this company:

KASCO GROUP 

Alreem tower, office 1602 

PO Box 

35793 Dubai Tel- +971 4 222 8268 

Email- http: // mailto: Admin@kascogroup.com 

http://www.kascogroup.com/

The Iranian authorities are very sure of the information they have, and the denial of the official authorities in Iraq will not change anything, so the Iraqi authorities responsible to follow up and address the matter, and even prevent the occurrence again, this issue cost Iraq a lot of reputation in international forums and oil circles!

link

[pokerplayer]

Read a post today about Israel playing nice with Iraq and sending letters to the GOI. Gonna be a tough sell while bombing Iraq to get at Israel.

 

  JMHO  pp