Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Al-Hamash: The Amount Of Dormant Inactive Funds In Iraq Is 60 Billion Dollars And 130 Trillion Dinars !


DinarThug
 Share

Recommended Posts

CNN. Broadcasting A Story So Big (Chunky) That It Needed A Thread Of It’s Own ! Buti Posted It First In Another Thread (Which I Brought Over Below) So That U Can Show Her Some Luv !

 

 

 

LINK

Al-Hamash: The amount of dormant inactive funds in Iraq is 60 billion dollars and 130 trillion dinars

 

%D8%AF%D9%88%D9%84%D8%A7%D8%B1-696x435.j
 
 
 
17:08 - 27/01/2020


 

The economic expert, Saleh Al-Hamash, revealed, on Monday, the existence of dormant inactive funds in Iraq estimated at 60 billion dollars in the American currency and 130 trillion dinars in the Iraqi currency, indicating that those funds will appear and go down to the Iraqi market if the agreement with China is activated.

Al-Hamash said to / the information / that "Iraq has dormant funds in the homes of Iraqis, chunky, not occupied in the Iraqi market to stagnate the movement of the Iraqi market."

He added that "the amount of these funds amounts to 60 billion dollars in the American currency and 130 trillion dinars in the Iraqi currency," noting that "if the Sino-Iraqi agreement is activated, these hidden funds will go to the market and operate and advance the economy."

He stressed that "the owners of the funds will search for projects to put these funds in and operate them."

 

Edited by DinarThug
  • Like 2
  • Thanks 3
  • Upvote 2
Link to comment
Share on other sites

2 hours ago, Butifldrm said:

Al-Hamash: The amount of dormant inactive funds in Iraq is 60 billion dollars and 130 trillion dinars

17:08 - 27/01/2020
0
 
  
%D8%AF%D9%88%D9%84%D8%A7%D8%B1-696x435.j

Information / private ...

The economic expert, Saleh Al-Hamash, revealed, on Monday, the existence of dormant inactive funds in Iraq estimated at 60 billion dollars in the American currency and 130 trillion dinars in the Iraqi currency, indicating that these funds will appear and go down to the Iraqi market if the agreement with China is activated.

Al-Hamash said to / the information / that " Iraq has dormant funds in the homes of Iraqis, chunky, not occupied in the Iraqi market to stagnate the movement of the Iraqi market."

He added that "the amount of these funds amounts to 60 billion dollars in the American currency and 130 trillion dinars in the Iraqi currency," noting that "if the Sino-Iraqi agreement is activated, these hidden funds will go to the market and operate and advance the economy."

He emphasized that "the owners of the funds will search for projects to put these funds in and operate them."

https://www.almaalomah.com/2020/01/27/452298/

 

  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

LINK

Parliamentary Finance: The 2020 budget will arrive in Parliament next April, as this condition is met

 

%D9%8A%D8%B3%D9%84%D9%82%D9%8A%D9%82-696
 
 
17:44 - 27/01/2020
 
 

The Parliamentary Finance Committee confirmed, on Monday, that the House of Representatives will receive the federal budget bill for 2020 from the Council of Ministers next April.

Member of the Committee, Siham Al-Aqili, said in a statement to "Information", that "the cabinet will send the federal budget bill for the year 2020 to the House of Representatives beginning of next April", pointing out that "sending the budget is dependent on resolving the position of prime minister during the coming days."

She added that "resolving the position of prime minister during these days and forming the new government within one month will require the cabinet to send the budget early next April," noting that "the draft budget law is complete and will be sent immediately to the parliament after the formation of the new government."

It showed that "the budget deficit may reach 48 trillion Iraqi dinars in the operational budget, according to preliminary data."  And the deputy of the Al-Hikma stream, Asaad Al-Morshedy, affirmed earlier that the parliament had not succeeded in finding a legal formula that would allow the caretaker government to send the federal budget bill for the year 2020 to the parliament. 

  • Thanks 2
  • Haha 2
  • Confused 1
Link to comment
Share on other sites

LINK

Al-Muthanna completes its project list to be included in the Chinese agreement

 

%D8%A7%D9%84%D9%85%D8%AB%D9%86%D9%89-696
 
 
10:54 - 01/28/2020
 
 

The local government in Muthanna Governorate announced, on Tuesday, the completion of disclosures on infrastructure projects, which will be part of the Iraqi-Chinese agreement, noting that health, education, roads, water and sewage are among the most important sectors covered.

Deputy Governor for Technical Affairs Ali Hamzah said in a statement to "Information", that "the statements were prepared according to the directives of the central government and after meetings with the relevant departments and administrative units."

Hamza pointed out that "the education sector included preparing sites for the construction of 160 schools, while the health sector included building three hospitals as well as the construction of roads and second corridors throughout the regions of Al-Muthanna Governorate." 
  • Thanks 3
Link to comment
Share on other sites

LINK

Does Corona affect the trade exchange between China and Iraq?

 

Does Corona affect the trade exchange between China and Iraq?
 
 
1/27/2020 10:00 PM
 
 
China has emerged in recent decades as an economic power that represents a financial fulcrum for its stable economy, whether it is local, or as a polar force that has faced capitalist regimes and the sanctions imposed on it, and the yuan has often imposed a dollar.

After the wars that were afflicted in some countries recently, and the economic disasters that caused it, the graph of the currencies of these countries declined to the lowest levels, especially Syria, Yemen, Iraq and Lebanon, China emerged as a first assistant by opening the trade route in defiance of all the sanctions imposed by America .

It provided humanitarian aid to Syria and Iraq by sending the necessary foodstuffs to meet the needs of the people, and also deepened the means of commercial exchange with the Arabs. Trade rates between China and the Arab countries have gradually increased during the past decade, to reach 1190 billion dollars in 2012, as China tends to devote itself as a super polar country.

Iraq had the largest share of the Chinese partnership, as Beijing sought to increase rapprochement with Baghdad by entering into huge commercial partnerships with it, as Iraq represented a huge market for Chinese goods and industries. Not only that, but in the same context, China is providing support to Iraq in many fields, including education, as China has pledged to provide training courses for teachers and send large aid in an attempt to pressure Washington to lift the escalation of Baghdad.

After Iraq and Syria, Yemen, Lebanon, and many Arab countries come, which was the largest market by which China expanded its trade by offering its products, and through it it maintained its economic strength as great financial powers that faced the American blockade.

Until the Corona epidemic began to spread, and the great fear that spread in the world from just hearing the word "China", and after a few days the yuan fell against the dollar, and issued in one of the American sites that this virus will topple the Chinese economy, especially with the failure of thousands of people to travel to China, as well as I read from many economic reports that traders decided to replace Chinese products with other products even if it was at the expense of profit (given that there are big differences between them and other products in terms of price and quality).

Even by looking at the rate of the orders of the Alibaba Chinese website, to shop online, we find that since the announcement of the first case, the demand has fallen to more than 80%, which is a very large percentage and with the coming days there will be an economic disaster for China if we consider the Alibaba website just An example is nothing more.

Researchers and specialists believe that it is a mistake to happen like this. First, this virus is a coronavirus that does not transmit through clothing or electronic parts, and dies during cooking at high temperatures, like all viruses of the same specifications. In cancer cells, he explained that the generalization of the idea of transmission of the virus through goods coming from China "and Sousse and its information is wrong."

There should also be a highly professional awareness campaign, as Reuters reported in this regard that the "measure of fear" among European investors has reached its highest level since the third of December, which led to European shares falling 2% today, which is the rate Relatively large.

And the psychological factor is considered a big role either by the decline of the Chinese economy or proving that people are wrong by focusing on ways to deter fear, and thus maintaining the largest economic partner for the Arabs. 

  • Thanks 2
  • Upvote 1
Link to comment
Share on other sites

5 hours ago, DinarThug said:

LINK

Witness: Khaled Al-Shammari Details The Pros And Cons Of The Budget Law Of 2020

 

%D8%AE%D8%A7%D9%84%D8%AF-%D8%A7%D9%84%D8

 

27th January, 2020


In the video .. Economist Dr. Khaled Al-Shammari details the pros and cons of the Budget Law for 2020.


 - VIDEO LINK

The Pros and cons? I can tell you about the pros and cons of the budget law.

1) Pros- Saleh and Shabibi

2) Cons- Everyone in the GOI and Parliament

Any questions?

 

 

  • Like 3
  • Haha 3
  • Upvote 2
Link to comment
Share on other sites

6 hours ago, DinarThug said:

the existence of dormant inactive funds in Iraq estimated at 60 billion dollars in the American currency and 130 trillion dinars in the Iraqi currency

 

🐒

Where did they pluck this number from?

Even CBI's M1 is way way below 130 trillion IQD.

  • Like 2
  • Thanks 2
  • Upvote 5
Link to comment
Share on other sites

5 hours ago, zul said:

 

🐒

Where did they pluck this number from?

Even CBI's M1 is way way below 130 trillion IQD.

Totally agree with you zul,

I’m thinking could be 130 billion IQD.  Or fake news.

I remember an article taking about 42 trillion IQD in circulation and 70% was chunky money.

  • Thanks 2
  • Upvote 3
Link to comment
Share on other sites

2 hours ago, Laid Back said:

I remember an article taking about 42 trillion IQD in circulation and 70% was chunky money.


Yo Mahdi’s Got So Much Chunk In Her Trunk - They Found Jimmy Hoffa ! :o 

 

afraid caption captioned cat found horrified jimmy hoffa suitcase think - 4719087104

 

And It Was Because She Sat On Him ...

 

:D  :D  :D 
 

Edited by DinarThug
  • Haha 4
Link to comment
Share on other sites

Anti-corruption: Iraq’s smuggled money has matched investment budgets since 2003

 

9903dd2226.jpg

 

2020 - 01-28

 

On Wednesday, the Supreme Council for Combating Corruption estimated the value of the looted funds smuggled from Iraq as parallel to the investment budgets approved since 2003 until now, revealing the willingness of France and the United Arab Emirates to cooperate in recovering these funds.

Observer member Saeed Yassin Mousa said in a press statement, "The council took a huge number of measures, some of which are related to the executive authority and others are related to legislation," noting that "the recent events that took place in the country did not affect the progress of the council's decisions that are still under Follow-up and implementation.

"The council cooperated with the Judicial Council and the Integrity Commission - as the spearhead in combating corruption - through the Prevention and Recovery departments," Moussa said, noting that "procedures are taking place outside Iraq regarding the recovery file, and there are a large number of issues that need an administrative investigation."

Moussa added that "the file of recovering the smuggled money needs a kind of wisdom, wisdom and patience," noting that "the ease of depositing the stolen money in banks outside Iraq creates a great difficulty in recovering it, as some of them may need a period of up to 15 years," setting an example in The state of Algeria "that has experience in recovering its money after it has spent money on legal advice and travel equal to the value of the money stolen from it, but it only wanted to consolidate the state's sovereignty and respect public funds."

Mousa estimated the value of the looted funds, as "being equal to the total investment budgets approved in Iraq since 2003 until now", noting that "Iraq has previously participated in a workshop with seven countries related to the problem of money laundering and smuggling, as it is one of those countries that suffer from the two problems that Their impact The Anti-Money Laundering Law was issued in the Central Bank to meet the international requirements of banks and financial management.

The observer member of the Supreme Council for Combating Corruption pointed to "the presence of Emirati and French cooperation to recover the stolen money from Iraq," adding that "a meeting took place between the Director General of the Recovery Department and the head of the UAE Accounting Bureau at one of the conferences and informed the latter of his country's readiness to cooperate in this matter."

Moussa added: "Officials at the Ministry of Justice met with their counterparts from the UAE side to discuss this file," revealing "serious steps from the French public prosecutor who has expressed his full readiness to help Iraq recover its looted money."

link

  • Like 1
  • Thanks 2
Link to comment
Share on other sites

Abdul Mahdi's advisor: The price of a barrel of oil in the 2020 budget will be close to last year

 

18872.jpg

 

29/01/2020

 

Economy News _ Baghdad


The appearance of Mohamed Saleh, financial advisor to the Prime Minister, Adel Abdel-Mahdi, on Wednesday, it is likely that the price of a barrel of oil approved in the 2020 budget will be close to last year 2019, expecting the budget to mature in the coming weeks

The financial advisor attributed the delay in approving the budget for the current year to "the conditions that the country has experienced recently, and the occurrence of many changes, including spending obligations and government decisions, and decisions of the House of Representatives according to the powers of the relevant authorities, which formed additional financial obligations on the budget, which led to a financial deficit."There is a lot in it, so the cabinet returned it after discussing it to the Ministry of Finance to reconsider some of the spending decisions, and to study some revenues in a way that makes them sustainable

Saleh expected, "The maturity of the budget during the coming weeks, especially as there is consultation, understanding and exchange of ideas and opinions by the concerned authorities, in an attempt to take measures in a way that makes the budget permanent, and enhance resources as much as possible, reduce deficits, and control debts"

He suggested that "the price of the approved barrel of oil in the budget will be close to last year 2019"

He pointed out that "the bodies concerned with preparing the budget work to make the deficit subject to financing and reduction at the same time through alternatives and priorities for spending and projects and presenting the most important on the important and re-arranging the so-called" financial space for the management of resources and the running of the budget, especially there is an expansion of exchange so the budget needs to restore Prepare it in the exchange doors and maximize some non-oil revenues"

He explained, "According to the timing, the budget should have been completed at the end of October of last year," expressing his regret in the event of the end of the fiscal year and then passing the budget to approval, as it will be similar to the year 2014, meaning that the spending under the applicable financial management law will be 1 on 12 of the actual expenditures for the 2019 budget"

LINK

 

Edited by DinarThug
  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

An economist calls for launching an international investment summit in Baghdad

 

Doc-P-332971-637158799866264005.jpg


Economie

 

2020-01-29 | 03:29
 

On Wednesday, a member of the Iraqi Economic Council, Ghadeer Al-Attar, called on the Iraqi government to launch an investment summit between Iraq and the major economic countries to expand commercial partnerships in the country.

 

Al-Attar said in a statement that Alsumaria News received, a copy of it, that "Iraq is a promising and fertile environment for foreign investment because of its various constituencies, such as human resources, natural resources, oil and gas, and other important economic joints."
 
Al-Attar said that "London hosted the African-British Investment Summit last week, with the participation of the leaders of more than fifty African countries to enhance trade and economic cooperation."
 
Al-Attar pointed out "the importance of Iraq adopting the policy of open investment with countries with successful economic experiences such as Britain, America, China, Japan, South Korea, Singapore, Sweden and other countries in order to implement strategic projects in Iraq."

LINK

Edited by DinarThug
  • Upvote 5
Link to comment
Share on other sites

Revealed that its revenues must reach 10 trillion dinars ... Expert: Ports must be subject to control to prevent corruption and control cases


January 29, 2020 7:35 PM Author: alzawraapaper
 
 
NB-266725-636909918743787843-300x169.jpe


 

Baghdad / Al-Zawra:



Yesterday, Wednesday, the economic expert, Qusai Safwan, said that the revenues of the border outlets must reach 10 trillion dinars, while the actual revenue does not exceed 3 trillion dinars, pointing out that the outlets must be subject to control to prevent corruption cases and control the goods and the destinations that will reach them. 

Safwan said in a press statement that "Iraq has border ports with neighboring countries, in addition to the airports and the process of controlling revenue, through the provisions of controlling the materials entering by customs imposed on goods and clarifying the market need for them, as the Ministry of Trade is supposed to work to clarify what the country needs of goods And the countries that he imports from. 

He added that "there is an absence of price control, and some traders are working to take out the currency by buying goods at more than their price."

Pointing out that "the process of controlling border crossings rests with the federal government, in addition to that there are irregular outlets that the Ministry of Interior is supposed to control and document visually."

 And that "the revenue from the ports is supposed to approach 10 trillion dinars, to which the budget is provided, but the actual realized amount is not more than 3 trillion dinars." 

Stressing the need to "know who will get the goods and which they will sell in order for the Finance Ministry to assume the process of imposing taxes and customs, especially since there is a lot of corruption in this file."

LINK

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

Parliamentary Finance: Iraq may be forced to cancel the decision to remove US forces from catastrophic repercussions


January 29, 2020 7:48 PM 
 
Author: alzawraapaper
 
 

%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%
 

 

Baghdad / Al-Zawraa Follow-up:



A member of the Parliamentary Finance Committee, Jamal Kujer, confirmed yesterday, Wednesday, that Iraq may be forced to withdraw the American forces, attributing the reason to receiving recommendations from specialists stating that the results will be disastrous if the decision is applied.

He said, Kujo, in an interview reported by the agency "Sputnik" and followed by "Al-Zawraa": The retreat of Iraq from the decision to withdraw American forces is up to the deputies who voted in the parliament session held on the fifth of this month.

He added: Those who voted on the decision are the Shiite representatives, and the speaker of parliament, Muhammad al-Halbousi, said it explicitly that this decision is Shiite, and if their intention is to retreat, and they have the argument to back down, then there are mechanisms for re-voting, and going to be the decision mandating the government and authorizing it to do what is necessary and she can undo that, and after the study she says that the motives or results of the withdrawal are more than their survival, and she can retreat.

Kojo explained: There is no obligation for the government with the decision that the House of Representatives voted on, because the decisions of the House are not binding, not compulsory, and they are a recommendation to the government. 
Noting: The Iraqi government has two wills from the representatives ’vote to withdraw the American forces. 

The first is: the decision was taken under pressure from certain sides, and the second was based on emotional and psychological motives, and then we said that political decisions differ completely as a country from the decisions of parties, and others because the state has no emotions, but interests, and decisions must be studied accordingly. For example, Russia, when its ambassador to Turkey was assassinated, did not take quick measures.

He added: You should have invested such positions to get the most interests, but because the will is totally absent in this country, so its will and its decision are not in its hands, and its steps are dictated to it, and what was done was from going to the embassy, and voting to withdraw the forces, for that time now the ball is in the cabinet court, and they can study it.

Cougar revealed a session held by the Parliamentary Finance Committee with the stakeholders, who are figures from the Central Bank, the Office of Financial Supervision, and the Ministry of Finance, and their recommendations were that the results would be disastrous if the decision to expel American forces was resorted to.

Cougar explained: The decision is to expel American forces, not withdrawals, because the withdrawal takes place if it is with the approval of the United States of America, and is convinced, as happened in 2011, but the decision that the deputies voted on is considered expulsion because without sitting with these forces, and negotiating with them about the withdrawal mechanism, and its timing from where to start.

Questioning: Does withdrawal mean the expulsion of an embassy? The embassy is not a military force until its expulsion is called, and all foreign forces are.

He continued: There was a session of the Finance Committee, and let us say it is enlightening, because we are concerned with enlightening the deputies, the political blocs with the results of every step we take, and any law that entails financial burdens or obligations, because the Council has its own opinion, and this is a very sensitive decision.

Cougar said: The Finance Committee held the session to enlighten the blocs, and the political decision in the Council that the catastrophic results, and their secretions, from expelling the American forces, are as follows:

The first result: that the 2020 budget has a deficit of at least between (45-40) billion dollars, and one of the most important The sources of filling this deficit are international loans, and if the decision to expel American forces is applied, Iraq will not be able to obtain these loans. 

Second: that Iraqi oil is sold in dollars, and our money goes to the American Federal Bank, which will create for Iraq a problem in commission and dollars, in addition to that the American bank may book receipts as threatened by Donald Trump, President of the United States of America. Cougar notes that Iraq is unable to withdraw or transfer its funds deposited in the US Federal Reserve, as they are frozen.

Third: If America does not supply Iraq with the dollar, the Iraqi state does not have an alternative currency, and therefore the local currency "dinar" will be struck, because even the country with which the Iraqi delegation held deals, which is China, was not concluded in the Chinese yuan, but in dollars, and thus the state will face a problem to find Another currency, such as the euro, for example.

Cougar continued: 

The fourth result of the withdrawal of American forces and the imposition of sanctions by its government on Iraq will strike the Iraqi economy, because Iraq is a rentier country that relies entirely on oil, and foreign companies operating in the oil sector are mostly American, British, and other European companies, some of which are Chinese and Russian .

Cougar drew attention, but: The major foreign oil companies operating in Iraq are American, and if the United States resorted to imposing sanctions, it will affect these companies.

Let us look at Iran how many European companies withdrew contracts from them for fear of hitting their investments in other countries, and therefore because the number Population in Iraq 33 million people, the share of these companies from the resources of this country may be a small percentage compared to the rest of the world, and therefore it is not ready to enter into a conflict with America in very narrow interests, and it is also not guaranteed because the Iraqi political situation did not give confidence that Its interests will remain, and will continue And thus it risked to stay in Iraq, and facing America.

The fifth result of the repercussions of expelling the American forces is the flight of internal and external capital, by the inability of citizens and merchants to withdraw the money in Iraqi banks, and the foreign investor cannot come to a country that is controlled by militias, striking embassies, companies, and military bases with missiles. In broad daylight, the deputy said.

Cougar pointed out that the sixth result is that Iraq will not have air cover, in addition to arming the Iraqi forces is an American from Brahms tanks, to F-16 aircraft, and therefore if the American forces are expelled, they will not return to the maintenance of these weapons and planes.

He stated: All political, security, military, and economic aspects in all fields will be struck, so we said it in the Finance Committee frankly, we are not with the expulsion of the forces, but rather discussing their exit in a way that serves the Iraqi state whether a temporary partial withdrawal gradually, after a study, it is not an emotional state.

After the enlightenment session of the Finance Committee, Couger notes: The stakeholders who came to the committee are part of the body of the government, and we have not brought in experts from outside it, and the government is supposed to be the decision-maker.

LINK

  • Thanks 2
Link to comment
Share on other sites

Conscious / stable dollar exchange rates on the Kifah Stock Exchange

 
 
 
January 29, 2020
 
 
Conscious / stable dollar exchange rates on the Kifah Stock Exchange

 

 

Conscious / Baghdad / N.N.

 

 

The dollar exchange rates stabilized, on Wednesday, on the stock market and local markets.

The prices of the Kifah Stock Exchange - Baghdad recorded 120.950 dinars per 100 dollars.

 Buying and selling prices in banking shops:

 The sale price of the dollar = 121,500 dinars.

 The purchase price of the dollar = 120,500 dinars.

LINK

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.