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To the Central Bank: Where did you get this ?!

 
Thursday, November 21, 2019
 
 
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The Ministry of Oil (a statement from its official spokesman) details of the total exports and revenues achieved for the month of October 2019, the statement said that the volume of exports of crude oil amounted to 106 million 859 thousand and 470 barrels, to form the volume of revenues amounted to 6 billion and 107 million and 315 thousand dollars, On behalf of the Ministry of Oil, the total exported quantities of crude oil for the month concerned from the oil fields in central and southern Iraq reached 103 million, 540 thousand and 855 barrels, and the daily average of exports amounted to 3 million and 447 thousand barrels, and the average price per barrel reached 57.153 dollars. These figures mean the average daily sales were $ 197,006,391 million.

Because this statement is official and reliable, it can be adopted for the purpose of comparison, when comparing oil sales (as the only source of income of foreign currencies, including the dollar) with the sales of the central dollar in its daily sessions, which amounted to 247,900,733 million dollars on 19/11/2019 and 265, 804,308 million dollars for 20/11/2019 and 258,026,494 million dollars for 21/11/2019, we find that the daily sales of the Central Bank of Iraq more than the daily sales of oil, which averaged $ 197 million during the month of October of this year (2019) , Although the dollar sales reported are for stock consolidation purposes J abroad (remittances, credit) and cash sales companies and banking offices inside Iraq, since there are other obligations of Iraq due payment and you need to pay in dollars, including:

1. Covering the importation and expenditures of the state sectors such as the importation of weapons, materiel, equipment, medicines, ration card materials and other purchases and official obligations assumed by the Trade Bank of Iraq (TBI).

2. Paying the dues of licensing companies that do not trade in oil, but through cash and term payments.

3. Payment of interest on loans and all the consequences of external indebtedness to creditors from outside Iraq, which is made in foreign currencies, mostly in dollars or its equivalent and not in Iraqi dinars.

4. Paying the dues of Iraq for its contributions and contributions to Arab, regional and international organizations, associations and forums which are in dollars or its equivalent.

5. Implementation of the State policies undertaken by the Central Bank of Iraq in strengthening foreign exchange reserves, including the dollar and gold for the purpose of developing local reserves.

6. Other obligations payable and payable requiring payment in dollars.

Although we do not have precise figures on the size of the dollar commitments referred to in paragraphs 1 to 6 above, the numerical comparison of oil and dollar sales revenues in the central bank window indicates that payments are more than income on most sales days, which means asking where you are. This may be our Central Bank of Iraq, and this may indicate a deficit in the balance of payments because the cash is less than the cash outflow and the value of this deficit can be less than what is shown because the export of oil continues during the year except for interruptions due to weather, sea, accidents and other possible stops As for the currency auction, it stops on Fridays and public holidays (thank God) and those days are to provide foreign exchange in those days, even though the balance of payments is in a healthy state and not selling enough to pay the rest of the commitments, our country would not need to borrow outside that created the indebtedness. In excess of 100 billion dollars now,

What is presented here is not something hidden or not disclosed by the Central Bank and the Ministry of Planning and other government and non-governmental bodies at home and abroad, because they are diagnosed and often referred to by the Central Bank data, but has been going on since 2004 and so far without treatments, although the treatments are known if It has already been adopted, but why these treatments are not adopted, the reasons are also known, including the lack of will in the treatments and the inadequacy or failure of administrations and the intervention of corrupt in deliberate to cause economic infertility that kept our country depends on import as a natural reaction to the state of great paralysis that prevails B Production and services activities in all sectors (public, mixed, private), and whether the paralysis is deliberate or inherited from the previous contracts and regulations, the responsibility for its continuation rests with the decision-makers at various levels of them today or their predecessors years ago, a country that allocates more than $ 200 million Daily import to outsmart

It is worth mentioning here that the decline in non-oil GDP has negative indications indicating the actual need to employ what exists and stop wasting resources and capabilities. Rather, it finds radical remedies for mothers of problems and constraints, including dollar sales that plague the economy with numbness and addiction and allow the accumulation of wealth in certain categories such as traders at the expense of other activities in the economy that have shifted from their productive forms to the pursuit of business. Beyond money and accumulation of wealth, wasting billions of dollars in the currency auction for the purpose of importing consumer goods and not to improve the factors of domestic production should not be the only way to maintain exchange rates, there has been a decline in the exchange rates of currencies in Turkey, Iran, Syria, Egypt and other countries, but it maintains levels Reassuring of the GDP

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The head of the solution party Jamal Karbouli, on Tuesday, addressed the demonstrators. ستغادر بغداد لقب المدينة الاسوأ في العالم.. وسيستعيد جواز سفركم هيبته، وسيسترجع ديناركم قيمته وسيكون لأطف

Kap never walk his own theory.... He said the exchange rate of dinar will increase gradually from 1190:1 to 1:1 over a certain period of time ( 6 months, 1 yr or even 2 yrs).   😎 any ex

“We would like to inform our valued customers The branches of the Iraqi trade bank mentioned below will stop providing all types of banking services on Monday, 2019/12/30 at 11 am for annual invento

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Preventive Integrity


Friday 22 November 2019

Thamer Alhims

 
The application of the eternal wisdom (prevention is better than cure) to curb corruption and waste of public money may be very costly.On November 12, 2019, the Parliamentary Integrity Committee revealed that the Integrity Commission (144) has submitted an investigation to the judiciary, and everyone knows that this is the tip of the iceberg. Integrity shelves were filled with similar files belonging to the top
والادنى. 

The criminal solution is very costly and at all levels financially, socially, politically, culturally and tropically, while the preventive solution, as we know, has organs extending from the Integrity Commission to its parliamentary counterpart, the Financial Supervisory Authority, to the Department of Supervision and Audit in Departments, which is usually linked directly to the Director General.

The Director General is the link between the decision and its implementation, with the help of the oversight and auditing departments and the legal department, which is also directly related to the Director General, as well as the Financial Control Unit, which is directly linked to the Financial Supervisory Authority. 

Not enough for these entities to curb corruption by drawing on their history and experience.

We must say that the exceptional circumstance can not be dealt with in the usual envelope tools in principle, and then to prove the obligations due to preventive integrity, which may first put the right man in the right place, as performance varies, especially as the majority of the work of the Agency any caretaker, so we see a move too late Towards a service board within the current environment.

Our preventive apparatus, in all its locations, must call upon the prosecution to exercise its duty. It is wary during the investigation or suspicion of preventing travel or preventive detention after fighting the immunity, but the prosecution or the director general and the presidents of judicial and parliamentary integrity and their apparatus face diligence extended from Bremer's liberalism and his time to Customary pretexts, and the public servant usually finds that the law has many exceptions, it simply finds its place among the posts to join inevitably.

Financial control is also called upon to review how some enjoy privileged jobs, to prevent the waste of money in the corridors of oil smuggling by any means and to increase attention and not to lose sight of it. The mobility is a shield for the counter.

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Yo Snap - Check Out That Protestor’s Wicked Chill Clown Mask ! :o 

 

:D  :D  :D 

 

 

The invocation of Abdul Mahdi tribes irritates the Iraqi street

- 3 Hours Have Passed
 
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BAGHDAD - Iraqi Prime Minister Adel Abdul Mahdi has turned to tribes in the hope that she will use her influence to stop the protests, which are nearing the end of her second month, after the government, its security services, militias and political parties are exhausted.

Informed political sources revealed that close to the Mahdi has made great efforts during the past three days, to persuade tribal leaders and tribal sheikhs to come to the Prime Minister's Office, to discuss developments related to the demonstrations, stressing that the efforts mentioned have achieved some success, but hit hard obstacles.

Abdul-Mahdi's office said that the Prime Minister stressed that "we are working to reform the country to meet the requirements of comprehensive development and not only respond to legitimate demands," during a meeting with "a large gathering of elders and tribal elders from the central and southern provinces, to deliberate on the situation in the country and the reform measures and solutions put forward. ”.

Abdul Mahdi's office acknowledged that the tribal sheikhs presented during the meeting the reality of the governorates in terms of security, service and living, and many opinions, demands and proposals related to fighting corruption, operating stalled laboratories, providing job opportunities, supporting the ration card and compensation, in addition to calling for constitutional amendments and imposing the rule of law and the prestige of the state to preserve State resources, public and private property, ports and border ports. ”

Abdul Mahdi responded that "all the demands are feasible in cooperation in good times and bad and bear the common responsibility for the interest of Iraq," adding that "the tribes were in the first row in all covenants and extended the battlefields against ISIS with brave men, which is really the army of reference and the people and stood with our forces until victory ”.

According to Abdul Mahdi's office, the meeting did not address the main demands of the demonstrators, including the dismissal of the government and the disclosure of snipers involved in the killing of hundreds of protesters, as well as the fate of thousands of wounded people hospitalized after exposure to toxic gases and live bullets, as well as the fate of hundreds of absentees Demonstrators, activists and journalists abducted from protest yards or from their homes.

The demonstrators did not wait much, as they distributed groups at the intersections likely to pass by tribal elders after they emerged from the meeting with Mahdi. Indeed, they seized a group of them at an intersection and confronted them with humiliating slogans, which regretted that great tribal leaders sought temptations from a brutal authority in a moment of despair.

Not only did the response, but activists subjected images aired by Abdul Mahdi's meeting with tribal sheikhs to analysis, extracting the faces of tribal leaders sitting in the prime minister's office, and posting them on social media, with the label "traitors."

After the images of the "traitorous sheikhs" spread like wildfire, with a large negative reaction against them, some tribal leaders were forced to make clarifications indicating that they did not match Abdul Mahdi, but demanded the blood of the victims of the October Revolution.

The comments created a public outcry that quickly resonated with other tribal sheikhs found to have rejected Abdul Mahdi's invitation.

Protesters said they had contacted about 20 tribal leaders and a tribal sheikh in central and southern Iraq, all of whom confirmed they had rejected an invitation to meet with Abdul Mahdi.

The protesters quoted tribal leaders who gave their full names and addresses, saying they had received urgent calls from Abdul Mahdi's office, but they refused to invite him. Government involved in the suppression of demonstrations.

Tribal leaders, who refused to meet Abdul Mahdi's call, called on members of the security forces from their clans not to comply with government orders to kill protesters.

Observers said that the Iraqi government's resort to this type of measures, reflects the degree of collapse reached, and it faces unprecedented protests on the level of size and quality of demands, considering that these government actions are in favor of the protest movement because it exposes clinging to Abdul Mahdi power and increase the momentum of popular anger against Supporting parties.

Calling tribal elders shows that the political class in Iraq, headed by Abdul Mahdi, has felt hopeless about the role that the religious authority, its traditional weapon, can play in pacifying the street.

The Iraqi political observer to the "Arabs" that this resort to the tribes will be effective only in non-urban areas, areas where the situation will not affect the demonstrations in major city centers, especially the capital Baghdad.

The observer ruled out that this method has little impact and may reflect negatively on the personal situation of everyone who attended the meeting, which the protesters called the meeting of shame, pointing out that these people are likely to lose their moral standing within their clans and be appropriate for the protesters to announce Finishing the page of clans and strengthening their attachment to civil society.

The Arabs

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Sadr City .. Human reservoir of protesters in Iraq .. Why?

- 4 Hours Have Passed
 

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A report published by the New York Times newspaper about the role of Sadr City, northeast of the Iraqi capital, in the protests in the country since the beginning of last month, and the reason behind this distinctive role.

The report, written by Alisa Rubin, the Baghdad bureau chief, said Sadr City's masses had been involved in the protests, angered by the government's disregard for them and backed by a long history of resistance and defiance.
In protests since last month, more than 330 people have been killed and 15,000 wounded, mainly driven by widespread corruption, unemployment and Iranian influence.

Young people
The main participants in the demonstrations are educated young people, the majority of whom are civilians and “secular”, as described by the author of the report.

Iraqis have long suffered decades of economic deprivation and government repression under Saddam Hussein, and they thought that toppling him would save them from the tragedies they had endured for years.

Most of Sadr City's residents are people who have emigrated from southern Iraq and kept ties with tribes there. In this sense, the city offers an opportunity to find out the passion and passion behind the current protests, which are rooted in the legacy of the Iraqi south and the spirit of the challenge that characterizes it ... Paved and cracked asphalt alleys.

Despite the deprivation of the city, it is a region full of vitality, has provided Iraq with the best musicians, poets, painters and sculptors.

"It's like a clay quarry," said Wajih Abbas, an Iraqi poet and writer.

"We in Sadr City are poor and need a lot of things like schools, health centers and jobs," said Bassam al-Kaabi, 41, one of Sadr's protest organizers.

"We believed the politicians we called for to vote for in return for promises of services, but we later discovered that they were liars, so we say enough of what happened
."

Alissa Rubin goes on to talk to Kaabi, a taxi driver, who explains how he finds it easy to mobilize his people to join protests in Baghdad.

He reports that a deaf son of a clothing store owner was collecting donations from kiosks in the city's market until he raised $ 140.

Residents of Sadr City regard the revolution and the resistance as part of their identity. The people of the city have experience in resistance and war, which helped them resist the US invasion of Iraq in 2003.

The island

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11 minutes ago, dinarham said:

I love you thug! So funny ,so smart . Do you have a car?


I’ve Got A Mini (anderson) Cooper To Haul Around The Rest Of The Clowns In The Media ! :o 

 

MSM_CNN_Morphs_Into_Clown_News_Network-3

:D  :D  :D 

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Prof.Dr. Mahmoud Mohammed Dagher: * It is the exchange rate, gentlemen

 

21/11/2019

 

Mahmoud-Daghir-video.jpg


While the exchange rate tends to indicate the number of units of one currency versus one unit of another currency, its changes, and this is important, reflect the monetary equation for deducting part of the purchasing power (when reducing), and enhancing the purchasing power of the monetary unit (on the rise), The problem associated with deduction or enhancement is that it enters the purchasing power without taking into account the income segment, ie, it is an additional tax at (decline) and additional income at (rise) without correlation with the level of income.

Therefore, the choice of the Exchange Regime system is central to following the results of exchange rate fluctuations (currency value) as well as determining the channel of transmission of its effect to the real macroeconomic joints.

The significant effect of currency fluctuation or change has been reflected in the exchange system option between a multi-spectrum floating system and a multi-spectrum fixed exchange system (Peg). It is rare for monetary authorities to clearly state the nature of their exchange system (de jure), but the actual transactions (de facto) are determined by specialists on the basis of the exchange system and its specific spectrum.

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Mahmoud Mohamed Dagher - it's the exchange rate, gentlemen, editor

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23 minutes ago, DinarThug said:

Prof.Dr. Mahmoud Mohammed Dagher: * It is the exchange rate, gentlemen

 

21/11/2019

 

Mahmoud-Daghir-video.jpg


While the exchange rate tends to indicate the number of units of one currency versus one unit of another currency, its changes, and this is important, reflect the monetary equation for deducting part of the purchasing power (when reducing), and enhancing the purchasing power of the monetary unit (on the rise), The problem associated with deduction or enhancement is that it enters the purchasing power without taking into account the income segment, ie, it is an additional tax at (decline) and additional income at (rise) without correlation with the level of income.

Therefore, the choice of the Exchange Regime system is central to following the results of exchange rate fluctuations (currency value) as well as determining the channel of transmission of its effect to the real macroeconomic joints.

The significant effect of currency fluctuation or change has been reflected in the exchange system option between a multi-spectrum floating system and a multi-spectrum fixed exchange system (Peg). It is rare for monetary authorities to clearly state the nature of their exchange system (de jure), but the actual transactions (de facto) are determined by specialists on the basis of the exchange system and its specific spectrum.

To continue reading click on the following link

Mahmoud Mohamed Dagher - it's the exchange rate, gentlemen, editor

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This sounds interesting, anyone have the rest of article translated?

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The contemporary economy of Iraq .. Where?

 
Thursday, November 21, 2019
 
The countries of the modern world have adopted two models of economy. The Western world has adopted a free economy system, or the so-called "market economy". Some of them built their economy on the market economy system with the specificity of their economic and political situation. The so-called state capitalism and the marginalization of the private sector.

As for Iraq has lost (Almsitin) .. Not adopted the market economy .. The economy directed .. The modern Iraqi state in 1921 .. It is under British control politically and monopoly oil companies economically .. Even when the oil revenues increased .. And established Iraq Council Ages in 1950 The programs and projects of this Council remained at the mercy of oil companies.

The monarchy has fallen, and even economists do not know the nature of the economic system in Iraq or even its features .. If the government of Abdul Karim Qasim (1958-1963) to achieve political independence and the restoration of uninvested land from oil companies .. The country's economy remained floundering between the reform law Agricultural .. The illusion of building the economic and political system .. Did not clarify the image of the Iraqi Republican economy.

Chaos and the expansion of state intervention and control after the nationalization of companies and banks in 1964 in an attempt to establish a directed economy .. But governments (1963-1968) failed and the Iraqi economy failed to achieve any privacy or progress .. Chaos remained Characteristic of that economy.

In 1968, governments tried to strengthen their economic power, not to establish a socialist scientific economy, but to provide the necessary political and economic power to govern. Therefore, the new construction of the economy was distorted. These revenues for development and economic reform only a little .. but used for the purposes of armaments and wars on a large scale and to serve the government .. Thus lost the economy and lost citizens.

Since the fall of the former regime in 2003 to the present day or even our near future, there is no clear economic policy. 
We are not building a comprehensive economy or a market economy, not even taking clear steps towards a market economy, or any plans for economic reform. We are still waiting for international oil imports and grants.


All the facts point to the depletion of Iraq's vast resources for the purposes of senior and junior officials, and even not to undertake any projects .. And not to get rid of the accumulations of Saddam's economic system .. And still the majority of citizens live on the ration absent.

The mainstay of our economy, 16 years ago, financial corruption spread from the top to the base, economic chaos, quotas, and oil smuggling. Every province is trying to acquire more than its rights.

Therefore, the issue of radical political and economic change has become urgent. We must develop a realistic picture of our new economy. What theory should it be? And we are moving in this direction really and practically. The economy is managed by experienced, honest and experienced economists.
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Auction Currency --- Bremer American Freestyle

 

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2019 - 11 - 22

Free Membership

 

Financial and administrative corruption undermines the social fabric in its political, economic and cultural aspects. It is one of the biggest challenges facing the modern world. Corruption and corruption are eloquent indicators of the growing line of corruption and violence

Iraq tops the list of global corruption, according to the international index of the most corrupt countries are: Iraq, Venezuela, North Korea, Libya, Sudan, Yemen, Afghanistan and Syria, and these data were published by the international organization Tronsparency International

The foreign currency auction "amounts to an American brimmer for the occupiers, specifically applied in 2004 by the Central Bank of Iraq, which is a new form of economic corruption associated with his secret rope with the process of money laundering in Iraq, the auction of currency in Iraq has become a means of smuggling money from Iraq. The $ 312 billion from 2004 - 2014, which is the revenue of Iraqi oil going into force in 2040 and pumped into the markets by the Central Bank of Iraq, was wasted abroad, a significant figure when the Iraqi economy is paralyzed by the depletion of the ISIS war and the low price of a barrel of oil Raw and resort to borrowing from international banks and mortgaging the future of future generations of sovereign guarantees and acquiescence to the arbitrary conditions of the International Monetary Fund

What is a currency auction? The term can be illustrated as follows: 

For example, if a bank buys (10) million dollars at the exchange rate of the dollar 4-118 Iraqi dinars to banks and those banks sell it at 5-125 Iraqi dinars, profit was 71 dinars per dollar becomes 710 million Iraqi dinars equivalent to 600 thousand In that year, the bank earns $ 200 million, noting that more than 65% of the receipts and coupons (forged) or registered in the names of ordinary people with Iraqi passports even if they did not buy any dollars, and the Iraqi economy loses $ 3 billion annually for the benefit of Mafia smuggling public money unjustified and irresponsible, it was better to build our mud schools and Run the unemployed armies and bring life to our broken companies

It should be noted that the process of auctioning foreign currency in the Central Bank of Iraq linked to banks belonging to political parties funded by their parties and militias in the sale of foreign currency and gold bullion, where the Central Bank sells daily 180 million dollars

The attempts of many loyal politicians, who are few, failed to cancel the currency auction applied by the Central Bank of Iraq after reaching $ 180 million a day, but failed to interrupt them with organized mafia corruption supported by militias and armed parties linked to smuggling networks at home and abroad. The audit of the invoices is not the competence of the bank but the competence of the Department of Economic Crime of the Ministry of Interior, and that these financial parasites were not up to financial empires without the corrupt Iraqi climate for the period after 2003, and there was no D since the Iraqi state was established in 1921 until April 9, 2003 witnessed in Iraq after the US has the occupation, and in the light of this corruption and looting of public money was not surprising that Iraq is classified for two consecutive years at the top of the most corrupt countries and appeared repercussions sick on the already lean Iraqi entity:

- Disruption of the economic situation, which directly affects the political situation

- Fluctuations in the exchange rate

- The subordination of the Iraqi economy to the unilateral fluctuations and speculation of the local market

- The depletion of the Central Bank reserves of foreign currencies and gold bullion, which in turn affects the exchange of local currency

- Central Bank reserves declined in 2009 to 35%

- Loss of independence of the Central Bank of Iraq. - Expand the gap between the official exchange rate and the market price

- Unemployment at 39% and poverty at 40%

- The deficit in the balance of payments and then to decrease the productive capacity

- Growing and widespread corruption, theft of public funds and weak social ties

- The growing phenomenon of money laundering

The last word / The deterioration of the sustainability of financial resources in Iraq since 2014 and is currently ongoing after the global financial crisis and affected by Iraq in 2008, and continued to appear deficit in the Iraqi budget until it reached a catastrophic figure exceeds 111 billion dollars and eased to 37 billion dollars after write-off Donors in the Paris Club for that debt by 80%

It is impossible that regulators (the Integrity Commission, the Board of Supreme Audit, and the offices of inspectors general) can stand up to corruption because these regulators urgently need to provide security and political support to them and because (some) these political leaders are under the influence of internal and external pressures regional and international

Margins & Resources /

 D - Ali Mirza - the use of reserves in his post 

Samir Shaaban - Money Laundering Crime 2016 /

Iman Mahmoud - Global Financial Crises.

Iraqi writer based in Sweden

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Interior Ministry reveals the number of demonstrators and their whereabouts in Baghdad and the provinces

 

By Ali 22/11/2019 11:52 PM | Read 

 

Ahd News - Baghdad

 

Spokesman of the Ministry of Interior, Brigadier Khalid Al-Muhanna, announced on Friday, the number of demonstrators and their whereabouts in the governorates, indicating that the total number of demonstrators for this day amounted to 14,650 demonstrators.

"The number of demonstrators and their whereabouts, on Friday, in the capital, Baghdad, 2700 demonstrators, in Tahrir Square (2000), Al-Senak (250), Al-Khellani (250), Hafiz Al-Qadi (100), Al-Rasafi (100)," he said. "A group of demonstrators threw stones and Molotov cocktails at security forces, wounding three protesters and two security forces, " he said.

He added, "The province of Dhi Qar, where the number of demonstrators, 1180, Missan 350 demonstrators, Muthanna 250 demonstrators, Wasit 500 demonstrators, Diwaniya 490 demonstrators, Najaf 5040 demonstrators, Karbala 1000, Babylon 3015, Basra 125, Diyala there are no demonstrators

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Sistani calls for "new elections"


by vBulletin® by Ali EjamIraq News11 Hours ago
 

BAGHDAD - AP, Reuters and AFP

 


BAGHDAD (Reuters) - Iraqi security forces fired live ammunition and tear gas at demonstrators in central Baghdad on Friday, killing three people, the Shi'ite authority Ali al-Sistani reiterated the need for a new election law.

Renewed clashes on Friday afternoon in Baghdad's Khalani Square, riot police fired shots and gas at hundreds of protesters who removed concrete barriers and poured into the square.

 

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Iraqi health and security officials said three protesters were killed and at least 25 wounded, bringing the death toll to four in the past 24 hours.

Sistani calls for a new electoral law

In the meantime, Sistani stressed in his Friday sermon his support for the demonstrators, saying that none of their demands have been met so far and that electoral reforms should be a priority.

He called for a new election law that would restore public confidence in the system and give voters the opportunity to replace current political leaders with "new faces."

He added: "A new law must be adopted for a new electoral commission that is neutral and credible without external interference because of the risks of turning the country into a arena for settling accounts, the biggest loser is the people."

"If they have the authority to think that they can evade the real merits of procrastination and procrastination, they are delusional," he said.

He added that "citizens did not go out to the demonstrations calling for reform in this unprecedented form and did not continue on it with all the price and sacrifices demanded only because they found no other way out of corruption and destruction."

Sistani has announced his support for a road map proposed by the United Nations Mission in Iraq to meet the demands of the demonstrators, but expressed concern about the lack of seriousness of political parties on the implementation of the proposed reforms.

At least 320 people have been killed and thousands injured since protests began on Oct. 1 against corruption, job shortages and poor basic services despite the country's oil wealth.

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The text of the statement of the supreme religious authority today: the need to speed up the completion of the election law and the law of the Commission


by Ali EjamIraq News12 Hours ago
 

Baghdad:

 

Below is the text of the statement of the Supreme Religious Reference, delivered by the representative of the reference Sheikh Abdul Mahdi Karbalai in Friday sermon.

 

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The statement said that "the religious authority has made clear its position on the peaceful protests calling for reform in last Friday's sermon through several points, which included the assertion of its peaceful and free from violence and vandalism, and the emphasis on the sanctity of Iraqi blood, and the need for political forces to respond to the rightful demands of protesters."

He added that "the reference point emphasizing the above, stresses the need to expedite the completion of the election law and the law of the Commission as described in that sermon, because they pave the way to overcome the great crisis experienced by the country."

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Communication unblocks social media sites permanently

 

Friday 22 November 2019

 

alsabaah-23135.jpg

 

Baghdad / morning
 

The Ministry of Communications announced that it has obtained official approvals to lift the blocking of social media sites permanently.

"Official approvals for lifting the blocking of social media sites have been finalized," a ministry statement said.

 Since the start of the demonstrations, the Iraqi government decided to block the main communication sites used in Iraq, most notably Facebook, Twitter, Instagram, Telegram and WhatsApp, after restoring the Internet service, while Prime Minister Adel Abdul Mahdi said that the authorities are sometimes forced to restrict the Internet when it considers that it is used in Promoting violence and hatred.

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Deputy: No immunity to officials before the law Where did you get this?

 

Friday 22 November 2019

 

alsabaah-23119.jpg

 

Baghdad / morning
 
Al-Delphi, a member of Al-Nasr coalition, said on Friday that the law "from where you will this" will include everyone, whether those in power or those who have become outside, pointing out that officials will not have immunity before this law and will be held accountable by the judiciary and integrity of what they have.

Delphi said in a press statement: «Law from where you will fight a lot of cases of corruption that have continued since 2003 and to this day, and is a bullet of mercy in the body of many politicians, ministers and general managers», stressing that «Parliament is determined to legislate all laws that Eliminate corruption and corrupt, to recover the money they stole and returned to the state ».

Delphi added that «law from where you get this, will not keep any immunity for officials, and will include large and small in the state, and will make Iraq on the right track to maintain public money and give the judiciary more space to issue judgments against spoilers», noting that «the judiciary and integrity are responsible for the implementation This law, where the files will not be forwarded by Parliament, as files will be limited (where you get this) to the mentioned bodies to include everyone without Exception".

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A high-level delegation from the Kurdistan Regional Government visits Baghdad to meet with Abdul-Mahdi and two ministers

 

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22nd November, 2019

 


It is scheduled to visit a high-level delegation of the Kurdistan Regional Government on Saturday, the federal capital of Baghdad to discuss the issue of oil, financial budget for next year in addition to other files.

According to the information available, the delegation of the regional government will visit Baghdad tomorrow (today) and meet with Prime Minister Adel Abdul-Mahdi, Oil Minister Thamer Ghadban, and Finance Minister Fuad Hussein and will discuss the issue of oil and gas and the general budget. The delegation consists of the Minister of Finance and Economy, Awat Sheikh Janab, the Minister of the Region, Khalid Shwani, the Chief of the Cabinet, Omid Sabah, and the Secretary of the Council of Ministers of the Region, Aman Rahim.

The Iraqi oil minister had said earlier that the Kurdistan region, may start delivery of 250 thousand barrels per day of oil to the federal government in Baghdad by early 2020. Minister Thamer Ghadhban said the oil would be delivered to the Iraqi Oil Marketing Company (SOMO), which will export it via a pipeline to the Turkish port of Ceyhan.

The handover was supposed to begin under an agreement reached two years ago. "The provincial government is committed to delivering at least 250,000 barrels per day to the Iraqi Oil Marketing Company (SOMO) for sale in Ceyhan, Turkey ... and resources (revenues) like other resources ... come to the budget," the minister told local television. Federal. He said the region produced 440,000 barrels per day last month. Relations with Baghdad and Erbil, the capital of the Kurdistan region, have improved.

As part of the 2018 and 2019 budgets, the Kurdistan Region agreed to send 250,000 barrels per day to federal authorities in return for Baghdad's payment of government salaries. "The federal budget law of 2019 is very clear on the rights and obligations of the parties, the federal government and the regional government, '' the minister said, adding that the Kurds had not yet sent any oil.

He said this could change in 2020 and he told SOMO officials to “prepare themselves to receive 250,000 bpd from the beginning of next year because this is what I understand so far from understandings”. He said a delegation of regional ministers is scheduled to arrive in Baghdad on Sunday to discuss budget issues.

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10 hours ago, DinarThug said:

A high-level delegation from the Kurdistan Regional Government visits Baghdad to meet with Abdul-Mahdi and two ministers


 

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The arrival of a Kurdish government delegation to Baghdad to discuss several files

 

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23rd November, 2019


A delegation from the Kurdistan Regional Government arrived on Saturday in Baghdad to discuss a number of files with the federal government.

It is scheduled to discuss the delegation of the Kurdistan Region during his visit to the oil files and the share of the Kurdistan region of the federal budget for 2020.

The delegation of the Kurdistan Region consisted of the Minister of Finance and Economy Awat Janab, the Minister of the Region, Khalid Shwani, the Chief Cabinet Office Omid Sabah and the Secretary of the Council of Ministers of the region Aman Rahim.

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The Iraqi parliament is considering nine paragraphs in its session today

 

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23rd November, 2019

 

The Iraqi Council of Representatives, on Saturday, a meeting to discuss several things, including voting on several projects, in addition to questioning the Minister of Industry and Minerals.
 
 
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Translation.....
 


Read verses from the Holy Quran First: Vote on the draft law on the accession of the Republic of Iraq to the Convention on International Road Transport for the year 2012. (Foreign Relations Committee, Services and Reconstruction Committee). (۲ Article). 

Second: Vote on the draft law on the accession of the Republic of Iraq to the grain trade agreement for the year. Committee on Foreign Relations, Legal Committee, Committee on Economy and Investment, Committee on Agriculture, Water and Marshlands.

Third : Vote on the proposal of the Second Amendment Law of the Law on Compensation for those affected by Military Operations. (Legal Committee, OFF Committee Martyrs, Victims and Political Prisoners, Commission on Human Rights). (1) 

Fourth: First Report of the Constitutional Amendments Committee

Fifth: First reading of the proposed law of the Second Amendment to the Law of the Foundation for Political Prisoners Law No. (5) for the year amended (Legal Committee) (5 Article) 

Sixth : Committee on Agriculture, Water and marshes).

Seventh: First reading of the draft law of leasing agricultural lands. (Committee on Agriculture, Water and Marshlands, Finance Committee).

Eighth: Questioning the Minister of Industry and Minerals. (The interrogator MP Mahmoud Abdel Reda Talal).

Ninth: General Debates (15 minutes). The session begins at 1 pm.

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Iraq’s Parliament approves changes to pension, anti-corruption laws, debates new election legislation
 

 

21st November, 2019


Iraq’s Council of Representatives (Parliament) approved several draft laws and amendments submitted by the Iraqi government, parliamentary committees and MPs.

The new laws and amendments reduce the retirement age of public sector workers, remove financial and other privileges from senior officials, introduce new rules on illegal financial gain, and grant greater powers and a wider remit to the Integrity Commission, Iraq’s anti-corruption watchdog.

The Council of Representatives also concluded the First Reading of a draft electoral law and a draft law abolishing the current body overseeing elections in Iraq and replacing it with a new Independent High Electoral Commission.

Parliamentary approval of the new laws came as the Iraqi government continues to implement a series of measures to meet the legitimate demands of the protests and address the long-term aspirations of all Iraqis.

 

Summary of the new laws and amendments approved by Iraq’s Parliament

The amended Unified Pension Law No. 9 of 2014:

Reduces the retirement age from 63 to 60 years, with exemptions for rare skills in certain sectors Guarantees a minimum monthly pension of 400,000 Iraqi dinars It is estimated that these and other changes will create more than 200,000 new vacancies in 2020

The amended Integrity Commission Law No. 30 of 2011 & the Illegal Gain Provision:

Extends the remit of the Integrity Commission to cover trade unions, non-governmental organisations and professional associations Tightens conflict of interest rules for officials Prohibits officials from using their position or title to gain personal financial benefits; any benefit obtained this way shall be regarded as (illegal gain)

Financial Privileges of Officials Law:

Abolishes the Financial Privileges of State Officials Law No. 13 of 2005 Removes a wide range of financial, health, housing, transport and security benefits from the President of the Republic, the Prime Minister and the Speaker of the Council of Representatives, ministers, MPs and other senior officials

The draft Federal Electoral Law (First Reading):

Reduces the age of candidacy from 30 to 25 Reduces the number of MPs from 329 to 251 Bans successful candidates and political blocs from creating a different coalition or form a new bloc until after the formation of the new government

The draft law establishing a new Independent Election Commission (First Reading):

 Establishes a new Independent High Electoral Commission  Decrees that the work of Commission will be overseen by 7 Commissioners  Authorises the Commission to seek international election advice

The Iraqi government will submit other draft laws to Parliament over the coming weeks.

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A parliamentary bloc makes a proposal to review the amnesty law and not include a category

 

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23rd November, 2019


On Saturday, the parliamentary wisdom bloc submitted a new proposal to amend the amnesty law No. 27 of 2016 to the Presidency of the House of Representatives.

"We submitted a law proposal to amend the amnesty law No. 27 of 2016, which included all those convicted of financial and administrative corruption crimes under investigation and others who were sentenced to prison and then included amnesty after payment of financial compensation,'' MP Khaled al-Jashmi said at a joint press conference.

He added that "the proposal to amend the law requires that the crimes of financial and administrative corruption provided for in the Integrity Commission Law No. 30 of 2011 be amended by the General Amnesty Law No. 27 of 2016, and open the door to investigate all cases covered by amnesty and remove the defendants from being investigated or sentenced, And retroactively to all cases covered by the amnesty related to cases of financial and administrative corruption," noting that "formal and substantive procedures have been completed to submit the bill to the Speaker of the House of Representatives to take the legislative course in accordance with the rules of procedure."

"There is another law proposal that will contribute significantly to the reduction of financial and administrative corruption, which we submitted a week ago to the presidency of the parliament regarding the transfer of dual nationality from the other nationality when they assume any sovereign security, military or political position," he said. And to hand it over to the Presidency of Parliament to take its legislative role."

 

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Wisdom makes a proposal to amend the amnesty law  

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The Sunni Alliance bloc suspends its membership and parliament fails to question a minister

 

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23rd November, 2019

 


The Alliance of Forces, which includes Sunni political parties, announced on Saturday the suspension of its membership of the parliamentary sessions except for sessions that witness the presentation of important laws.

The bloc member Ghaida Kambash told a press conference held in the House of Representatives with the participation of deputies from the Alliance of Forces that "the bloc announces its suspension of membership of the parliamentary sessions except for sessions where the presentation of important laws, which include laws and reform decisions and the lack of selectivity in the submission of laws."

"The government's failure to fulfill its promises to return IDPs outside and inside the country to their areas, its continued scrutiny and security permits, and the arbitrariness of citizens and unjustified complications are legalizing corruption and blackmail," she added.

The Iraqi parliament failed to hold its session on Saturday, which was scheduled to witness the questioning of the Minister of Industry.

A parliamentary source told Twilight News that the House of Representatives postponed its meeting until next Monday.

A parliamentary source said earlier in the day that the Minister of Industry apologized for attending the questioning session, because of its inclusion in the reshuffle.

Prime Minister Adel Abdul Mahdi plans to make major changes to his cabinet, including nine ministers, against the backdrop of protests in Baghdad and a number of Shiite-dominated provinces.

 

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Parliamentarian reveals the resignation of the Minister of Industry from his post

 

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23rd November, 2019

 

A member of the House of Representatives for the Alliance of Sunni forces Abdullah Khuraibet on Saturday that the Minister of Industry Saleh al-Jubouri resigned from the current government headed by Adel Abdul-Mahdi.

"Minister of Industry Saleh al-Jubouri has resigned as part of the prime minister's reform package and we are with all reforms to remove any uniforms," Kharbit told a news conference.

He added that "the suspension of our attendance to the meetings is not linked to a political purpose, but to cut political rhetoric," adding that "will not be spent personal laws and gains for parties under the pretext of demonstrators and the pretext of demonstrations."

"We are with all the demands of the demonstrations and we will attend the sessions and what is not related to the protests, we have nothing to do with it," he said.

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14 hours ago, DinarThug said:

Prof.Dr. Mahmoud Mohammed Dagher: * It is the exchange rate, gentlemen


 

13 hours ago, mally2 said:

This sounds interesting, anyone have the rest of article translated?


Here U Go - I Had Ralphie Translate It After He Finished His Ovaltine ! ;) 

 

:D  :D  :D 

 

 

 

Mahmoud Mohamed Dagher: * It is the exchange rate, gentlemen

 

While the exchange rate goes to indicate the number of units of one currency against one unit of another currency, its changes, and this is important, reflect the cash equivalents to deduct part of the purchasing power (when reducing) The problem associated with deduction or consolidation is that it enters purchasing power without taking into account the income bracket, i.e., an additional tax on the decline (and additional income on the rise) without correlation with the income level. Therefore, the choice of Exchange Regime is central to following the results of the exchange rate fluctuation (currency value) as well as determining the channel of transmission of its effect to the real macroeconomic joints

a) The effect of currency fluctuations or changes in the value of the currency is reflected in the exchange system option between floating floating system with multiple spectra. It is rare for monetary authorities to clearly state the nature of their de jure system, but it is the de facto transactions by which specialists determine the exchange system and its neutral spectrum. Following the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions , the most important document is to identify the nature of a country's exchange rate regime, as well as to identify the nominal stabilizer of monetary policy. The currency fluctuation in the market, the nature of the restrictions imposed by the monetary authority, and then the exchange system determines, for example, the Iraqi exchange system is placed within the group of countries that follow the traditional exchange rate system. Dealing with the exchange of dinar a Iraqi promise Mthbtha Nominally monetary policy. Through the follow-up to most of the countries with open rentier economy survey, we find it under the umbrella of an international currency peg (the dollar often or sometimes a basket of currencies the dollar component represents President

b) Iraqi dinar, as the honor of the Iraqi dinar is being dealt with several Asian cities of the policy of extension and through the follow-up survey of most of the major economic countries open economy, we find that they are under the system of linking international currency dollar high or sometimes a basket of currencies such as the dollar component main Stemming from the development of the economy and its non-diversification, fearing the impact of fluctuations in the economy of the economy when choosing a flexible alternative, and after avoiding the erosion of the value of the currency and reflected in the purchasing power of the individual entered the biggest justification for the option of the system of fixed payoff system) and any spectrum. This approach helps in doing what he wants from the various sharp and rapid repercussions and the role of the exchange rate in that and then we rate the proportion of the year in Iraq about its choice fixed exchange system. 

First: The Lebanese has not witnessed a stable monetary system as witnessed by the Lebanese regime since the early 1990s, and political pressures and internal disparities did not succeed in changing the tightening system of the Lebanese pound. This was a milestone in the stable monetary policy of the Central Bank of Lebanon and the developed banking system compared to the countries of the region. . However, this stability in the management of monetary policy and the stability of the value of the lira ($ 1 - 1500 pounds) accompanied by the abandonment of the Bank of Lebanon part of its independence by accepting the mutual influence between the list of the financial position of the Bank of Lebanon and the general budget of the executive authority by accepting the purchase of public debt instruments This increased the volume of credit assets in the BDL's financial position, which in turn was securitized and offered to Lebanese banks, which government debt securities are also part of their asset list and trained to motivate them to continue to accept this. Its leaves. . The high interest rate has been a catalyst for deposit and lending in the banking system, with large dollar innovations under pressure to stimulate higher interest rates compared to regional banks. This was accompanied by exchanges (Swap securities between the Central Bank of Lebanon and banks and everyone stimulates the interest rate attractive, forgetting that the taxpayer taxpayer is the financier of the Lebanese general budget deficit and securities issued by the Treasury to cover the deficit and debt 

List of BDL's financial position and the general budget of the executive authority by accepting the purchase and monetization of public treasury debt instruments, in return for the interest of Al-Munawara as well as the growing volume of the wave. And his credit in the list of the financial position of the Bank of Lebanon, which was in turn intensified (Securitic and presented to the Lebanese banks, which became government debt securities part of the list of assets as well as generating a incentive to continue with the advent of these securities Large dollar innovations under pressure to stimulate higher interest rates compared to banks in the region accompanied by swaps of securities between the Central Bank of Lebanon and banks and everyone stimulates the attractive interest rate, forgetting that the taxpayer is the financier of the deficit. Lebanese public offset the continuing financial and securities issued by the Treasury to cover the deficit and the accumulated debt) by the political adventures of the parties to the main revolving around the management of governance, so Atsag growing banking revenue tax rates is increasing on the Lebanese citizen financially banking must be up to the extent that it is difficult where continuity | The mutual relationship between the BDL and the Lebanese government, and this means Stuck stopped the ability of debt securities to grant a return or to bear a cost, ie, the credit assets reached high levels of the Lebanese banking system and the Lebanese Central Bank unless interest is increased, corresponding to the high level of debt Debt. Accumulated Deficits Deficits Continues 

2009 - 2010 The monetary policy in the annual budget is refined, unless the tax proceeds to bear the cost of issuing additional debt securities financing deficit! The link between the performance of the BDL and the performance of the government was sharply reflected when Lebanese taxpayers rejected the tax increase project proposed by the Lebanese government. Lit to the level ($ 1 = 1800 lire) Financial panic financial panic began secret to the banking system, and panic included two aspects: | - Dense wave of withdrawal of dollar deposits. D Relative paralysis in goods and services imported in dollars and sold in lira. So we are facing a scene in which the Lebanese pound fell by 20% in the parallel market, while the Banque du Liban insists that the price of the pound (1 $ = 1510 pounds) with banks refused to transfer deposits of individuals and companies abroad, and the trend of everyone to escape from the pound to the dollar, has become Fluctuation of the exchange rate as the governor of what is happening, and any government correction or banking action does not 

to - Dense wave of withdrawal of dollar deposits. - Relative paralysis in goods and services imported in dollars and sold in lira. . So we are in front of a scene in which the Lebanese pound fell by 20% in the parallel market, while the Banque du Liban insisted that the price of the lira (LBP 151251) with the banks' refusal to transfer the reality of individuals and companies abroad, and the trend of everyone to escape from the lira to the dollar did not fluctuate the exchange rate as governor The Lebanese citizen, whether working in the private or public sectors, has a real decline, as long as most of the goods and services are imported in dollars, and the pent-up of inflation has revealed the balance that the BDL has achieved. This is what the low currency is Shah specialists, but the worst thing that happens to the currency of a small and open economy is the existence of two exchange rates, one declared 1512 pounds per dollar and the other at 1800 pounds per dollar, so individuals do not bear the impoverishment caused by the implicit tax caused by the devaluation of the currency.

The potential solution after the crisis is mainly the ability of the executive authority to develop the street and reassure the citizen, and the exit of the government expected by the budget deficit, while the Central Bank of Lebanon must disengage the list of financial center to the ongoing budget deficit, as well as control the entry and exit of goods and services :

The Iranian event, the second important event whose repercussions still exist.:

Iran follows the exchange rate system with a number of composite currencies according to IMF classification (2018), but its spectrum is far from the traditional fixed exchange rate of Iraq, as it is called Cawlike Arrangements. • Capital and capital pressures, so countries that follow this pattern change their classification quickly

Note that Iran is practically pegging its currency to the polar according to the spectrum above, and the monetary authority (KFHI) exercises restrictions on exchange as well as multiple practices with the currency Multiple Currency Practices MCP It may seem that such a pattern closer to the Managed Floating managed as trying Some mistakenly call it that, because directed changes are realized from the exchange rate of AIT to the last APT, and so away from the pattern of exchange flexibility. This system adopted by the working authority may give it a flexible annual economic flexibility, but this is accompanied by high risks Risks if accompanied by the rise of Australian Central Bank and the acquisition of financial authority (Treasury) on the bank and lead the economic decision, as the latter is ideological pattern And rigid targets, which is happening in Iran. While the drainage system gives high potential to stimulate export, it reflects on the lives of different social strata.  

The Authority's desire to stimulate exports and reduce imports in response to the imposed blockade, or 2 positions in stimulating growth sectors attracting foreign exchange, as the monetary authority has been constantly devaluating currency until recently, after the recent siege, turned into a floating currency almost free of risks to the economy The most important is what we fear from the impact on the purchasing power of most income brackets as long as the trend is the reduction (Depreciate), so Yere is the cash equivalent to the tax on income all without exception and by the same force, unlike the tax that takes into account the income bracket. As a result, the reduction of the aunt does not take into account the domestic tranche 0, although it is an implicit tax (Iranplicit Tax, the recent blockade has generally revenues from oil exports and some other tribe commodities) and a clear deficit with large spending requirements. 

"The effect is the monetary equivalent of taxing all incomes without exception and by the same force, unlike the tax that takes into account the income bracket. As a result, currency depreciation does not take into account the scientific segment, although it is an implicit blow. The search for a way out of the public financial crisis took place with some options  abandoning government spending programs in armament and capacity development in the hope of filling the deficit. The Iranian currency has collapsed to record highs in the recent period as illustrated in Figure (1). 1) The exchange rate fluctuations of the Iranian rial against the US dollar in the parallel market IRR / USD  

Mahmoud - edited rebellions / 2/2019/11 / omists. net / en / wp - content / uploads / sites = At Source: WWW. BONBAST. Note that (1 toman is equal to 10,000 riyals) the rate of decline by figure is estimated at 312% from June 2017 ($ 1 equals "37.00 riyals") until September 2018 ($ 1 equals 152,500 riyals), Despite the improvement, it remains within the range of 120,000 riyals to the dollar (in the parallel market, while the Iranian central bank declares the price of 12,000 riyals per dollar). Its negative impact on world life from the event of igniting inflation and erosion of real income is likely, which is the birth of the protests that limited the protests in 2009, 2017, but greater than what is currently happening

The strange link between the current event in Iran and the decision to raise the price of hydrocarbons (gasoline) 

It is strange to link the current event in Iran to the decision to raise the price of gasoline (AU0) after a certain volume of subsidized fuel. The price outweighs the income and not the prices of other countries, and since the very low exchange rate has exhausted the real income earned, the increase in the price of fuel affects the income of the citizen sharply. Without taking into account the level of poverty must Thinking that the goal of obtaining foreign exchange did not leave the maker of Al-Safati before the siege and the recent significant devaluation of the currency. The deposit of their money is coordinated by daughters under bank intermediation  

 Auto | Lending, which is difficult to achieve because the latter depends on the profitability of investment in the Iranian economy is not possible, so the dollar depositors suffered clear losses and reduced confidence in the banking system.

THIRD: THE IRAQI EVENT

We conclude from the simplified analysis of the two existing Lebanese and Iranian events and before them the Egyptian event (two months ago, represented by the popular protests are as follows: -

1.The dependence of the continuing monetary authority represented by the balance sheet (balance sheet) to the effects of the continuing deficit in the public budget, will inevitably lead to currency exposure, as long as the financing of the deficit is continuous and not atheists. 

2. The dependence of the continuing monetary authority, represented in the balance sheet (balance sheet) on the effects of the continuing budget deficit, will inevitably lead to currency exposures as long as the financing of the deficit is sustained rather than individual.

3. Excessive stimulation of the export sector through reduction is not feasible, as long as the production structure is not diversified, as has been demonstrated by many experiences, especially when the export sector is technologically dilapidated and preferably a strong currency to assist in the import of technical equipment. Curbing imports by reducing to the deterioration of the livelihood level, Negative misleading the purchasing power of income and pays for more poverty.

4. Excessive curbing of imports through reduction leads to a deterioration of the livelihood level, especially when there are no or no alternatives to domestic production.

5. The worst that affects any exchange system is the existence of an official and parallel exchange rate. Given these modest conclusions of the protests in Lebanon and Iran as part of the exchange rate analysis, where are the recent protests in Iraq approaching the two experiences? This answer calls for a return to a recent date in which we will clarify the procedures of monetary policy. 

Despite the adoption of the traditional fixed exchange system since the end of 2008, the dinar shelf has been continuing towards the dollar peg for the years in 2017, as shown in Figure (2) iiiii. Iraqi dinar to US dollar for the year 2010 - 2019 CEF 1. 120 110 1220 Aug 2019 Fety, 2019 2018 feb 2018 2017 A feb 2017 ALL Aug 2016 1. 270 1320 Fat 2016 2015 March 2015 2011, February 2014 13 Dar 2013 and »F At 2012 feb 2012 and 10 TOP 2011 m 2010 Fire Fly, 2010 Source: Central Bank of Iraq, Statistical website. 

Source: Central Bank of Iraq, Statistical Website Auto | It is noteworthy that volatility has decreased in 2017 and ended in 2018 and is still one of the objectives of monetary policy to ensure the performance of the dinar in controlling purchasing power and prevent the existence of two prices in the economy, a statement adopted by the author, `` no worse than the existence of a high or low exchange rate except the existence of two prices. '' The stability of the dinar at ($ 1 = 1200) with a margin of volatility less than 1% (1190 - 1200 bar / $ 1) eliminated the impact of the implicit tax resulting from the depreciation of the currency on the various income segments, and kept the purchasing power of the Iraqi dinar at the target. From 2004 to 2015, the relationship between the Bank's financial position and the balance sheet has not been established. The Central Bank has maintained an acceptable degree of legal and administrative independence, although the objective nature of the spring structure of the public budget in which we receive public revenues is in dollars. Spend in dinars, makes the money supply hostage and padda-treasurer, of your neighborhood 

 Stating the dollar to the dinar. Figure (3) helps in showing the relationship between the general budget and the bank's budget

Source: From the work of the researcher as a result of the double shock that faced the Iraqi economy in 2015 (low oil prices + ISIS gangs) and the Iraqi government faced a dilemma, the government banks and even some private banks, as well as the Central Bank to support the Treasury by providing loans While the Central Bank contributed to the discount of treasury transfers public banks and thus began a new relationship and assets of the financial position of the bank, which now includes domestic credit assets (Hawa and treasury bonds) besides foreign assets, and the volume of remittances and discounted bonds to 16 trillion R Iraqis almost for the years 2015.2016.

However, this has stopped since 2017 and until now, and the debt interest has been extended, as well as a modest amount of no more than 1. 5 trillion dinars for its installments. Therefore, we can say that the Central Bank has maintained an appropriate distance from the financial authority, which helped him to control inflation and ensure the stability of the exchange rate at the target since 2017 and until now.

Despite the success of monetary policy in managing the monetary mass through the nominal fixed exchange rate ", the mechanism of transfer of monetary policy impact and its decisions to the real sector (agriculture, service industry ) was not efficient because it was confined mainly to the import channel. 

Such weaknesses due to the performance of the mechanism of retaliation Transmission Mechanism on Monetary Policy due to linkage with other macroeconomic variables, which was not controlled by the monetary authority because of the link with the performance of other financial and trade and employment policies, as well as weakness up to a state of lack of financial depth In the Iraqi economy, which can be described as financial fragility that does not allow the transition mechanism to work smoothly. 

One of the most important problems faced by the monetary authority in Iraq is the extent of the exchange rate ability to affect the real economy, since the latter is the main refuge for economic growth, and therefore can not monetary safety alone a success of macroeconomic performance, although important. 

Therefore, it is noted that there are proposals from some of the gentlemen calling for a reduction of the exchange rate of the Iraqi dinar against the dollar under the pretext:
A - The exchange rate of the dinar ($ 1 = 1200) exaggerated stimulates the import.
B. In their opinion, this high price represents a depletion of dollar wealth. Dahd and immediately if we dismantle these proposals find the following: 

1 - It is normal that the dinar cannot be stimulated to export because of its relative lack of currency. The dinar and the dollar are convertible as long as the bank law number 56 of 2004 confirms the simple sale of foreign currency to its applicants. Without restrictions. Indeed, the bank believes that the problem of the real sector is not mabih, but lies in the unfair competition for the goods of neighboring countries brown resulting from the breeders of exchange rate reduction of these countries compared to the Iraqi dinar, and hence the complexity of the growth of real halls lies in the need for a wall as a customs of Iraq With neighboring countries that practice Iraq policy backed by a low exchange rate does not allow the domestic production sector to compete with 

The local production sector is not allowed to compete, especially the low Aute. D) There are unofficial outlets through which various permissible and prohibited goods enter and therefore the origin of the customs tariff is the monetary alternative equivalent to the impact of the exchange rate policy (called the Exchange Rate War) of the neighboring countries that have not been achieved. It was and can still be addressed by the customs wall, which is what all countries are doing, which has become a serious problem not only because of the decline in individuals achieved, but also the growth of national sectors of agriculture and industry when conducting a survey on the statistics of foreign trade (import) both national and We find that the volume of imports, including Kurdistan, is about $ 60 billion at a time when the customs revenue does not exceed $ 1 billion at best? ! Therefore, we continue to call for the application of tariff lists in quantitative and qualitative terms, otherwise growth will remain dependent on the oil sector only. 

May The recent protests in the clairvoyant's economic (corruption, unemployment, service performance) withdrew to the depth of the political structure, but as far as monetary policy ask the following questions: 

What would have happened if accompanied by these protests a reduction of the dinar (implicit tax high impact)? That is, if the claims of protesters accompanied a deep impoverishment. The protests are an initiative and participation that was relatively outside the framework of salaried state employees. Most salaries of employees are in the bracket (600, 000 - 1, 000, 000 dinars).We conclude that the financial crisis represented by the low exchange rate leading to the erosion of power

Any devaluation would change the purchasing power of income downward without taking into account the modest income brackets. Find out that the financial crisis of the low exchange rate leading to the erosion of purchasing power in Lebanon and Iran differs from that in Iraq and if they are synchronized between them. (Forced in Lebanon) represents the worst monetary policy options.

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Trump's deputy arrives in Baghdad

 

Trump
 
 
2019/11/23 14:55
 
 
US Vice President Mike Pence arrived in Baghdad on Saturday.


"Pence arrived in Baghdad just before," a well-informed political source said.

The source did not disclose the reasons for the visit, expecting to go to the base of al-Assad in Anbar.

 

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US Vice President arrives in Baghdad

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23rd November, 2019



US Vice President Mike Pence arrived in the Iraqi capital on Saturday.

A source familiar with the Twilight News that "US Vice President Mike Pence arrived in Baghdad on an unannounced visit."

The source added that the US vice president is scheduled to visit his country's forces at the base of Ain al-Assad in Anbar province.

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Media: Pence will inspect US troops in the eye of Assad

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16:13 - 23/11/2019
 

Mike Pence, US Vice President Donald Trump, arrived in Iraq on Saturday to visit US soldiers , media reports said .

The US media confirmed that "Pence will inspect his country's forces at the base of Ain al-Assad in the western province of Anbar."

This is Pence's first visit to Iraq , and the first by a US official at this level since President Donald Trump's visit to al-Qaeda itself in late December 2018 for only hours, sparking controversy for not meeting any Iraqi official.

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The government reveals the files it will discuss with Trump's deputy

The government reveals the files it will discuss with Trump
 
2019/11/23 16:14
 
 
The Iraqi government unveiled on Saturday the files it will share with US Vice President Mike Pence, who arrived in Baghdad this afternoon.
 
Iraqi government spokesman Saad al-Hadithi said in a press statement that "Iraqi talks with the US vice president will discuss bilateral relations and the fight against terrorism and developments in Iraq."
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    • By DinarThug
      Pompeo warns Iran: We will respond firmly if our interests in Iraq are damaged
       
      - 12 Hours Ago  


      WASHINGTON - US Secretary of State Mike Pompeo warned Iran on Friday of a "decisive" response if US interests were harmed in Iraq after a series of missile attacks on military bases.
      This came in a Tweet for "Pompeo" on Twitter, in which he condemned the attack that occurred near the capital's airport in Baghdad this week; and wounded 6 Iraqi soldiers. Pompeo accused "Iran's agents" of carrying out the said attack.
      He added: "To Iran's leaders, the United States will respond decisively if Iran or its proxies harm US soldiers or our Iraqi partners."
      "We must seize this opportunity to remind Iran's leaders that any attacks on their side or their representatives of any identity are detrimental to the Americans, our allies, or our interests, and will be answered decisively," Pompeo said.
      He added, "Iran must respect the sovereignty of its neighbors and desist immediately (...) from supporting third parties in Iraq and throughout the region."
      This warning comes after ten missile attacks since October 28 have targeted military bases housing US soldiers or US diplomatic missions in Iraq, including the United States embassy in the heavily fortified Green Zone in the capital, Baghdad.
      Two missiles were fired on Wednesday night, Thursday, at a complex of American soldiers near Baghdad International Airport.
      In one of the attacks, six Iraqi soldiers were wounded at dawn Monday, with four rockets falling on a nearby military base in the vicinity of Baghdad International Airport.
      The US Secretary of State attributed the attacks, which no one has claimed responsibility for, to "Iran's agents", expressing his hope for "the speedy and complete recovery of these brave Iraqis."
      Rocket attacks targeting Iraqi camps in which US soldiers are stationed have been repeated since early December.
      On the fifth of this month, two rockets landed inside the "Balad Air Base", in Salah al-Din Governorate (north), two days after 5 rockets landed in "Ain al-Assad Air Force Base", in Anbar Province (west).
      The attacks did not cause losses among the American forces, but they come at a time of escalating tension between Washington and Tehran, which are allies of Baghdad, amid fears that Iraq will turn into a battleground between the two countries.
      US officials allude to the involvement of Shiite factions close to Tehran in the attacks.
      And about 5 thousand American soldiers are deployed in several military bases throughout Iraq, in the framework of the international coalition to fight the terrorist organization "ISIS".
      Iran has wide influence in Iraq, especially among the PMF factions that Tehran finances and trains.
      Tensions between Iran and the United States have escalated since Washington withdrew from the nuclear agreement with Tehran last year, and imposed heavy sanctions on Tehran.
      The Arabs
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