Strategic Expert: The Value Of The Iraqi Dinar Will Decrease In Relation To The US Dollar As Oil Falls !

[DinarThug]

CNN. Broadcasting ‘Expert Strategy For Dummies’ - I Bought The Coloring Book !

 

 

They Advise U To Try And Stay Within The Lines ...

 

 

Hmmm ... So That’s What I’ve Been Doing Wrong ...

 

     

 

 

LINK

Strategic expert: The value of the Iraqi dinar will decrease
in relation to the US dollar as oil falls

 

 

 

9th March, 2020

 

 

The strategic expert, Eric Davis, stressed that the value of the Iraqi dinar will decrease in relation to the US dollar as oil continues to decline.

"The value of the Iraqi dinar will decrease in relation to the US dollar, and the reason is that the Iraqi dinar will represent a weaker economy as oil prices continue to decline due to lower global industrial production," Davis said in a tweet on Twitter.

He added that "Iraq has 95% of its external revenues from selling oil. Iraq must diversify its economy."

[DinarThug]

LINK

The House of Representatives will resume its sessions
next Saturday

 

 

9th March, 2020

A member of the House of Representatives, Deputy Alia of the Emirate, revealed, on Monday, that the House of Representatives will resume its sessions next Saturday.

The emirate said, "It was assumed that the House of Representatives will resume its work during these days, but the recommendations of the crisis cell on the Corona virus prevented this."

She noted that "Parliament has set next March 14 as the date for the end of the legislative holiday and the convening of the first session of the parliament." 

[tigergorzow]

DT Thanks,  Let's hope that means an increase in the right direction... Come on girls & boys get er done. 

 

GO RV/RI

[DinarThug]

INTERNAL BANK TRANSFERS
 

 

 

ERBIL BANK FOR INVESTMENT AND FINANCE PROVIDES ITS CLIENTS WITH THE SERVICE OF INTERNAL TRANSFERS IN THE CURRENCY OF THE US DOLLAR, THE IRAQI DINAR, AND THE EURO

 

 

 MONEY TRANSFERS ONLY RTGS

 

 

ACH MONEY TRANSFER INSTRUMENTS

 

 

 

FOREIGN BANK TRANSFERS

 

 

ERBIL BANK FOR INVESTMENT AND FINANCE PROVIDES THE SERVICE OF MONEY TRANSFERS AND TRANSACTIONS WITH EXTERNAL BANKS, WHICH ARE DONE THROUGH THE METHOD OF THE SWIFT SYSTEM

 

ISSUING FOREIGN TRANSFERS TO ANY BANK IN THE WORLD IN AN HONEST AND FAST MANNER

 

ACCEPTING FOREIGN TRANSFERS RECEIVED FROM THE BANK FROM ALL OVER THE WORLD

[DinarThug]

Banking services provided by Al-Mansour Investment Bank to its clients

 

- Buying and selling foreign currencies and buying sukuk and transfers.

 

 -Sending and receiving remittances around the world via his correspondents.

 

 -Issuing internal and external letters of guarantee in Iraqi dinars, US dollars, euros, and any other currencies.

 

-Integrated services for all internal and external banking operations for merchants, companies and individuals.

[tigergorzow]

DT Truly Appreciate, You are on a roll keep em coming... 👌👌👍👍. 

 

GO RV / RI

[DinarThug]

LINK

Trade Bank of Iraq

 

9th March, 2020

Our dear customers:

We would like to inform you that the promotion of personal loan transactions has been stopped until further notice. So it is necessary to note.

[DinarThug]

LINK

Bankers hold an important meeting to discuss
economic decisions

 

9th March, 2020

 

A number of bankers held a meeting at the headquarters of the Iraqi Company for Financing Small and Medium Enterprises to discuss a set of economic and banking decisions

Participated in the meeting, the delegated director of the Iraqi Commercial Bank, Nuri Al-Dubais, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, and the United Bank Abdul Rahman Al-Sheikhly, the authorized director of the Iraqi Company for Small and Medium Enterprises Financing, Sulaf Hussain, advisor Adnan Chalabi and advisor to the Association of Iraqi Private Banks Khawla Al-Asadi and advisor Hamid Abdal Majeed

The meeting also discussed, among other things, the Central Bank’s instructions for housing loans and the conditions contained therein

While they stressed the importance of the Central Bank’s decision on housing loans in addressing the housing crisis and supporting citizens to improve their living conditions

 The meeting also discussed a mechanism for activating bank shares in the Iraq Stock Exchange, in cooperation between banks, the central bank and the Securities Commission to prepare a study on this topic

[Spartakus]

May be the bank has realized that it's customers won't be able to pay them back because of the Coronavirus crisis.

[DinarThug]

LINK

10 Iraqi parliamentarians infected with the Corona virus

 

 

9th March, 2020

Reported a medical source, on Monday, that ten deputies were infected with the new Corona virus.

The source said, according to the agency "Sputnik", that "the results of laboratory tests conducted at the Central Health Laboratory in the capital, Baghdad, for ten of the deputies confirmed their infection with the Corona virus."

A prominent human rights source, for his part, alluded to information about MPs contracting the Corona virus, but there was no official confirmation or announcement.

Iraq recorded new infections with the new Corona virus, bringing the number to 60 cases so far. 

[DinarThug]

LINK

Parliament explains why it did not hold an extraordinary
session on Corona

 

 

9th March, 2020

MP Ali, the emirate, explained, on Monday, the reason for the failure of the House of Representatives to hold an extraordinary session regarding the outbreak of the Corona virus.

The emirate said, "The reason for the lack of an extraordinary emergency session regarding Corona is due to sterilization and fumigation operations that take place inside the council building."

She added, "In addition to reducing the number of employees in Parliament to 50 percent." 

[DinarThug]

LINK

An upcoming meeting of the Iraqi parliament to discuss
the collapse of oil prices

 

 

 

12:28 - 09/03/2020

 

 

The Parliamentary Finance Committee expressed, on Monday, its concern about the collapse of oil prices to unexpected levels, noting that it had contacted with its members for the purpose of holding a meeting to find ways to counter the sharp decline in oil prices.

Member of the Committee, MP Ahmad Hama Rashid, said in a statement to / Information /, that “the sudden and rapid decline in oil prices will put Iraq in front of a major financial and economic crisis, and for this reason we have made contact with all members of the committee in order to search for the negative returns that will face the Iraqi economy in the light of this collapse." 

Rashid added, "The committee will study all proposals that would face this great decline, and economic, financial and oil experts will be called in to find ways to confront the crisis."

He pointed out that "the current prices will be sufficient only to pay salaries to state employees, and therefore it will reflect negatively on the development of the rest of the investment and service sectors."

[DinarThug]

https://cbi.iq/news/view/1454

The central bank begins a sterilization campaign for
its building in the Mosul branch

 

 

9th March, 2020

The Central Bank of Iraq / the Mosul branch, in cooperation with the Directorate of Civil
Defense in the province, and in the presence of the radioactive chemical chemical team 
(CBRN), initiated cleansing and sterilization operations in the Central Bank that covered
all building facilities, to guard against the spread of infections with the emerging
 "Corona Virus ".

          

[DinarThug]

LINK

Because of Corona .. an expert is likely to drop the price
of a barrel of oil to 38 dollars

 

 

 

19:27 - 08/03/2020

 

 

On Sunday, the economist Ali Jabbar expected that the price of a barrel of oil would drop below the $40 mark and reach $38 during the second quarter of 2020 due to the continuing paralysis of the economy globally.

Jabbar told Al-Maalouma that "oil prices are constantly declining after the Corona virus crisis, paralyzing international trade and the lack of oil demand."

He added that "Iraq is the first people affected by the drop in oil prices in the event of falling prices or reducing production because of its almost total dependence on oil and the absence of other economic resources."

He explained that "oil is expected to fall below the 40-dollar barrier during the current quarter and reach 38 dollars per barrel during the second quarter of 2020", pointing out that "the second quarter will turn the world economy into a depression in light of the global economic recession". 

[DinarThug]

LINK

Asian oil traders take advantage of Saudi Arabia's decision
to reduce crude prices

 

 

 

12:58 - 09/03/2020

 

 

Reuters reported, that at least 4 Asian refiners are seeking to maximize their purchases of Middle East oil, download Nissan, after Saudi Arabia reduced prices to buyers with fixed-term contracts.

Reuters quoted sources as saying that it was waiting for the rest of the Middle East producers to announce the official prices for the sale of crude, while two sources said they would ask for the maximum amount of crude that they could obtain from Saudi Arabia.

Oil prices fell more than 30% in trading on Monday, after OPEC failed to reach an agreement with its allies outside the organization regarding production cuts, and Saudi Arabia's decision to reduce oil prices and its intention to increase production.

Brent crude futures fell to $ 32.28 a barrel, its lowest level since February 2016, and U.S. West Texas Intermediate crude fell to $ 28.33 a barrel, its lowest level since February 2016.

Saudi Arabia had announced earlier, reductions in the price of its oil for the month of April, and media reports spoke of the Kingdom's intention to increase its production of crude oil to more than 10 million barrels per day.

These developments in the oil market are attributed to the failure of the OPEC + coalition last week to reach an agreement to reduce oil production, after the decline in demand due to the outbreak of the Corona virus.

[DinarThug]

LINK

France urges Saudi Arabia to coordinate regarding the
price of crude

 

9th March, 2020

 

French Finance Minister Bruno Le Mer said that Saudi Arabia should coordinate with regard to oil prices in order to avoid causing economic damage to other countries

Oil prices fell more than 30% and pushed financial markets to decline, as Saudi Arabia opened the door to a price war with Russia

"I would like Saudi Arabia, as the head of the G20 richest group, to coordinate on the issue of the price of oil so that the markets are not shaken," Le Mer said

He continued, "In the long term, if oil prices drop a lot, this causes concern in the market, which will have repercussions on the financing of our companies and our economies

Le Mer added that oil companies should pass the price reduction to consumers immediately

[DinarThug]

LINK

International Energy: Oil demand heading for first
contraction since 2009

 

 

 

14:28 - 09/03/2020

 

 

The International Energy Agency confirmed on Monday that the global demand for oil is heading for deflation in 2020 for the first time in more than ten years in light of the global economic activity stalled by the Corona virus.

She said she expects demand for oil to reach 99.9 million barrels per day in 2020, thereby reducing her annual forecasts by nearly one million barrels per day, and indicates a contraction of 90,000 barrels per day in the first decline in demand since 2009.

And the Paris-based agency added that if governments fail to contain an outbreak of the Corona virus, consumption may drop by up to 730,000 bpd. 

[DinarThug]

LINK

Goldman Sachs expects Brent to drop to $ 30 due to the
price war and Corona

 

9th March, 2020

 

Goldman Sachs lowered its forecast for Brent price in the second and third quarters to $ 30 a barrel, citing the price war between Russia and Saudi Arabia and a massive collapse in demand due to the Corona virus, which has killed more than 3,500 people worldwide

"The significant reduction in the official sale price of Saudi crude and Russia's reluctance to conclude a deal on Friday indicates the weak possibility of reaching an (OPEC +) agreement immediately," Goldman Sachs said in a note dated March 8

"While we cannot exclude an OPEC + agreement in the coming months, we also believe that the agreement is fundamentally unbalanced while the cuts lack economic justifications," the bank said

The bank said that its main scenario at present is not to reach a similar agreement

The bank added that the low prices will start to create severe financial pressure and a decline in the production of shale oil and other producers who bear high costs

Assuming production policy remains unchanged, Goldman predicts a supply deficit in the fourth quarter of 2020, which could reduce the stockpile surplus until 2021

The bank said that the possibility of withdrawing from stocks may help prices recover to $ 40 a barrel by theend of this year

[DinarThug]

Blackshart and the failed state in Iraq

- 8 Hours Ago

 

To become prime minister in Iraq will inevitably cost you a lot of internal concessions - to parties and political blocs - and foreign countries that dominate political decision-making, such as the United States of America and Iran, but if you are independent then your government will come out of the narrow door before gaining the confidence of the House of Representatives.

Observers of the Iraqi issue believe that the Iraqi scene has returned to square one again, where it is governed by gangs and partisans, explaining that the coming period witnesses more formation of new Iraqi coalitions based on nervousness, and these coalitions will seek to impose themselves on any procedures for forming the new government, explaining that Mohamed Allawi’s Prime Minister-designate’s apology for forming the Iraqi government held the scene largely in Baghdad, especially since so far all attempts to form an Iraqi government have failed, in light of Adel Abdul Mahdi, head of the caretaker government, rejecting the government's work.

They said that Muhammad Allawi was subjected to many pressures and dictations by the political blocs during the formation of the government by the political blocs and the attempt of some Iraqi parties to impose specific names on the new government at a time when Muhammad Tawfiq Allawi was seeking to form an independent government.

They pointed out that the second reason behind Muhammad Tawfiq Allawi’s apology for forming the new government is the parliament postponing its session to vote on the Iraqi government for the second time, which Allawi considered to be an embarrassment to him, especially in light of the severe differences between the Iraqi blocs on that new government, pointing out that the Iraqi street will continue In the demonstrations to form a government independent of the parties at a time when the parties are pressuring him to put their candidates within the government, which prompted Allawi to go out and announce an apology for forming the government.

In this context, the UN Secretary-General's envoy to Iraq, Jenin Henness-Blachhardt, warned that the differences and the absence of a political decision that leads to more paralysis in decision-making is not optimistic, as she put it, and continues to push Iraq and its people towards the unknown. The UN official attributed the prime minister's failure to form the government to a lack of confidence and disintegration. "According to the law, the president now has 15 days to nominate a new prime minister, and his government and program will need the support of parliament," she said. While political consultations continue, the question remains, will political parties be able to find an agreed candidate in this limited period? ”

She added that all this perpetuates the uncertainty and poses great challenges, thereby reducing public confidence in the state more and more. She stressed the need for free and fair elections, noting that the new election commission will need to comply with the principles of transparency, accountability, independence and professionalism.

The head of the United Nations Assistance Mission for Iraq explained that the security scene is complex, full of challenges and there are "armed entities" with unclear affiliations. "We see groups and individuals taking advantage of peaceful demonstrations and security forces as their cover, which contributes to exacerbating problems, misleading the people, and harming the interests of the state, so the scene is ambiguous," she said.

It called for the dismantling or merging of these armed entities, under the control of the state without delay, stressing that this should not constitute an excuse for political or governmental inaction.

She said that corruption is perhaps the biggest source of disorder in Iraq, in addition to favoritism that serves politicians more than the people. She called for the need to reform the system so that men and women could have a more prosperous life. She said: "Iraq is a poor country, but private and partisan interests conspire to divert resources away from the important investment going forward." She pointed out that there are external factors that cast heavy shadows on the national economy, but that there are internal factors that can be controlled, such as reducing bureaucracy, promoting good governance and fighting Corruption.

On violent extremism, the UN official stressed to the Security Council the importance of not ignoring this threat. "While ISIS was defeated on the ground, over the past two months it has continued its attempts to increase its military operations in northeastern Diyala, north of Baghdad and western Iraq," she said. She added that ISIS should not be allowed to rise again and be recruited.

She stressed in the conclusion of her statement that "extinguishing fires is not a strategy, as Iraq must move from crisis management to adopting more stable and sustainable policies,and build flexibility through a broad and deep systemic reform. As we all know, strength inside is a prerequisite for strength outside. ”

This testimony of the United Nations envoy in Iraq came to confirm that Iraq is living in the worst stage in its modern and contemporary history, until it reached the ranks of the failed state.

It can be said that successive governments and the political class in Iraq are the reason for Iraq to reach that description. She failed to resolve any of the hot files that were placed on her table during her assumption of these tasks, and on the contrary, she sank in corruption, quotas, and lack of national sovereignty, which led the Iraqis to rise up against her.

At the level of governments, a government missed the opportunity to build a state of law and institutions, and the beginning of restoring confidence between the citizen and the government that was provided by the defeat of al-Qaeda and the law enforcement plan in the beginning of 2007, but it sought to personalize the rule and this was a guarantor in vanishing any political, security or service achievement.

And another government did not invest in declaring victory over ISIS, as it was busy arranging the electoral situation at the expense of political slogans, which opened the beginning of taking power in 2015 by raising the slogan of fighting corruption and reform. His rule ended without the citizen seeking real reform or serious steps to fight corruption.

As for the last government, it sank in a whirlpool of slogans. She was adept at political theorization, diagnosis of state crises, and mismanagement. She did not persuade the Iraqis of her steps towards providing a service achievement to a citizen awaiting many concrete actions, and not interested in promises of strategic projects.

The political class is still unable or unable to absorb the issue of the expiry of slogans and promises that are not appropriate for a political system that adopts elections as an input to grant it legitimacy. What unites the public in Iraq is suffering and a growing sense of a loss of confidence in the parties and the ruling political class. There appear to be features of liberation in the public's awareness of the fears associated with identity and anxiety in relation to the other, differing in doctrine and nationalism, these fears that served the justification political discourse of the ruling class.

Hence the protests movement came in October last year, against the governments and the political class that brought Iraq to the level of the failed state.

In fact, the term “failed state” is not only a popular term that people deliberate in describing the failure of the governments of their countries to resolve hot and vital files, nor is it a description used by the opposition elites in its attack on the governments of their countries only, bypassing it to be a scientific term through which countries are classified. In this regard, Foreign Policy magazine publishes an annual report - with the support of the American Peace Fund since 2005 - an annual report on "failed states", and given the severity and term of the term, it was converted to the "fragile states" index, but with the same indicators being adopted economically and socially. Politically and even security.

The “Fragile States” index is defined as countries that face difficulties in completing governance functions, and suffer from internal and external crises at the political, economic and social levels, not to mention the spread of political and financial corruption in their systems, and they also share different internal peculiarities in the characteristic of widespread poverty and unemployment Insecurity, i.e. classified according to the degree of failure. According to the results of this index for the year 2019, Iraq is ranked fifth in the Arab world and thirteenth globally in the list of countries "fragile" or "failed."

The state’s loss of sovereignty and its inability to protect its citizens is the most prominent determinant of characterizing a country as a “failed state,” according to what sociologists say. And Iraqis today, in most of their lives, do not invoke law or state institutions, but rather parties, militias, and sects in a distorted version of the Lebanese model that adopts sectarian quotas.

At a time when the state lacks an effective government, the role of the clerics who follow their followers and determine their options is strengthened today, sometimes reaching the level of internal struggle. The Iraqi Shiite religious establishment is also ideologically divided between supporters of Ayatollah “Abu al-Qasim al-Khoei,” the representative of the conservative Shi’ite politically, and followers of the Ayatollah “Khomeini” who are affected by the Iranian revolution. .

These transnational loyalties and the national situation alone are sufficient to classify Iraq as a “failed state”. In addition, the Iraqi model governed by divisions within the dominant Shi'a community, as well as the differences between the various components of the Iraqi people, Shiites, Sunnis and Kurds, provide an ideal combination of state failure and the loss of the tools of governance and administration. The societal division and the severity of religious and ethnic conflicts are among the most important indicators of the state's fragility.

The multiplicity of races and sects and the division of Iraqi society not only lost the state's sovereignty, but also allowed the Iraqi land to be a hotbed of regional and international disputes and the division of loyalties within Iraqi society into Iran, the United States of America and the Gulf countries, to the extent that these forces have come to control the state’s policies and policies.

Professor Naseem Khoury, in a study on the emergence and development of the concept of the failed state, went to the point that the economic indicator is considered one of the most important indicators adopted in the classification of a country (what) within the category of failed states. Khoury stresses that economic indicators include unequal economic development between groups belonging to the same country and severe economic decline, including structural imbalances, stagnation in the economic cycle, and the collapse of the value of national cash.

In this context, economic reports indicate that the budget deficit for the year 2019 in Iraq amounted to 23 billion dollars, and economic experts are talking about a deficit in the budget for the year 2020 that may reach 30 billion dollars. It is a natural consequence of the absence of effective economic policies, widespread corruption and thefts in the country, and the exacerbation of debt.

And the public sector inflation in Iraq is one of the most prominent manifestations of rampant corruption in the country, in the budget for the year 2019, for example, 40% of it was allocated to public spending. That is, nearly half of the budget goes to salvation of the salaries of employees in the public sector, who number about three million employees and is the result of its imposition and foundations for the quota system, which has become the employment file in the government sector as a kind of reward and satisfaction for the followers of each party of the political actors, and even ensuring their enjoyment With a high level of luxury, which made Transparency International ranks Iraq 13th among the most corrupt countries.

Patronage and cronyism are considered the basis of economic problems in Iraq, a major cause of its deterioration and evidence of the absence of clear economic policies, in addition to its assertion of the government's failure to run the state and acquiesce to internal and external dictates that even the Prime Minister of technocrats “Adel Abdul Mahdi” failed to address.

It goes without saying that the causes of corruption in Iraq are deep and rooted. The multiplicity of sects and ethnicities, in addition to the country's history, full of internal and external conflicts, are the most important. Historically and even today, each group fights for the benefit of the country’s wealth to serve its own interests. Throughout history, too, Iraq has been a breeding ground for conflicts between these various societal components and a arena of conflicts and regional and international competitions.

In view of this complex reality, many observers have wagered on the failure of the popular protests and considered them unable to overthrow the government, which was denounced by the reality of the situation after the resignation of Prime Minister Adel Abdul Mahdi, which opens the way for many scenarios, but more importantly, these protest movements build for a future An Iraqi cut with the causes of failure that accompanied his history.

The reasons for the failure that made Iraq classified among the top five failed countries on the Arab level are clear, and they are, by the way, among the basic demands of the demonstrators. The solutions are also clear and clear, but the real problem boils down to who will dominate the interests of the country over its own interests, and who will not. Especially since these are those who control the use of violence in the first place, not the state itself.

The bottom line is that the problem in Iraq is a complex cause, in the language of the people of logic. It is not only security. Terrorism and extremist groups are spreading in all countries of the world, and no country is safe from its movements and goals. The problem is also not limited to the economy, because many countries face economic challenges that may be far more dangerous than the challenges facing the Iraqi economy. As dependence on oil resources is a permanent factor in sustaining the economy, as it constitutes a guarantee for providing funds to manage public life facilities and not managing the economy’s truth in the scientific sense of the word.

The failure of political leaders in Iraq and their mismanagement is the main reason for the perpetuation of terrorism and the spread of corruption, and this is what makes Iraq remain in the classification of the failed state. The real problem lies in the loss of responsibility for the deteriorating situation that the country reached after 16 years of the fall of the former Iraqi regime.

At the level of the political class that runs the country, there are no major differences in content between the mismanagement of the totalitarian regime and the mismanagement of political leaders operating under the title "democratic". Both operate within a political system that strives to ensure its long-term survival in power, regardless of the acceptance and satisfaction that can be reflected in the general policies of the political system.

The failure of the state does not stop at the financial level, related to the provision of services or what are known as the concepts of public policy political good political, administrative and financial corruption, and mismanagement prevent any political or service achievement provided to the citizen.

But more dangerous than that is the failure of the state to achieve political and social integration, and to restore the citizen's confidence in the state and its institutions. The succession of lost opportunities by the ruling elites still obscures the circumstances and blocks any glimmer of hope towards the future of political reform.

Iraqi Studies Unit

Links Center for Research and Strategic Studies

LINK

[DinarThug]

LINK

Al-Kazemi’s fortunes increased at the expense of Al-Zarfi in forming the new government

 

 

 

9th March, 2020

 

 

London-based Al-Arab newspaper revealed that the intelligence chief Mustafa Al-Kazemi increased his chances of heading the next government, indicating that his most important rival is the former governor of Najaf, and the current member of Parliament for the victory alliance, Adnan Al-Zarfi.

According to observers, according to the newspaper, "The decline in the competition for the most important executive position in Iraq between two individuals who have not previously entered direct into the Iranian sphere of influence in the country reveals the depth of the crisis experienced by Shiite political parties loyal to Tehran, after the popular and widespread demonstrations since its inception early Last October."

She added that "the Shiite parties loyal to Iran have temporarily frozen plans to revive the nomination of personalities of the President of the Republic, Barham Salih, who refused to assign them to form a government, such as the governor of Basra, Asaad Al-Eidani, the Minister of Higher Education, Qusay al-Suhail, and a representative of the State of Law coalition in the Iraqi parliament, Muhammad Shi'a al-Sudani."

"Instead of pressuring the president to assign one of these to form a new government, Shiite parties loyal to Iran are trying to renew Adel Abdul Mahdi and his government on the pretext that they meet the aspirations of the prominent Sunni and Kurdish powers."

And she indicated that "the tactic by which the supporters of Al-Kazemi or Al-Zrafi’s mission responded by opening to prominent activists of the demonstrations and talking to them about the possibility of supporting a candidate to form an interim government whose mission is to hold early elections, which may represent a gateway for deeper political change," according to the observers.

Observers say, according to the newspaper, "The traditional political forces within the Shiite component fear the rise of new personalities from within the sect to the ranks of leaders, if you get the opportunity to take up senior positions."

A description of “new blood”, as well as a “balance of trends,” could be applied to Al-Kazemi and Al-Zarfi. Although each of them had not previously engaged in a political project directed by Iran, neither of them had ever been a public political opponent of Tehran.

The sources say that "the slow negotiations in Baghdad may no longer see the names of Al-Kazemi and Al-Zrafi be proposed to form the new government, despite the existence of many wishes within the parliament revolving around different types of solutions."

[DinarThug]

LINK

Corona and low oil prices .. Iraq is losing 75 million dollars a day and a crisis in providing salaries

 

 

9th March, 2020

The Iraqis have awakened to the news that oil lost a third of its value due to the failure of the OPEC countries agreement to reach a new agreement to determine the volume of production, in addition to the spread of the Corona virus around the world. Oil prices fell to about $ 37 a barrel, which is the lowest price in nearly 20 years, and in light of Iraq’s reliance on oil in its budget, economists warned of the impact of this decrease on Iraqi revenues and the provision of basic supplies and salaries to employees.

Sources spoke to / Mawazine News / about a significant decrease in Iraqi revenues, as a result of the drop in oil prices and the outbreak of the Corona virus, which caused the closure of factories and companies in Asian countries that request Iraqi oil. The sources said in an interview with "Mawazine News" that "the funds held by the government do not cover the salaries of the next three months, and in the event of lower oil prices, this will cause a major crisis in providing salaries and other government obligations towards the ruling expenditures, including the purchase of medicines." She pointed out, "The cost of producing a barrel of oil reaches 9 dollars, and there is another cost, and these all affect the volume of revenue." Noting that "there are about 700,000 employees daily wages and contracts they have not received their salaries for 4 months."

The appearance of Mohammed Saleh, the financial advisor to the Prime Minister, revealed the size of Iraq’s economic losses (the difference in oil prices) due to the Corona virus, ranging from (50 to 75) million dollars per day, while clarifying the salaries of employees, retirees and social welfare.Saleh said, "The continuation of the decline in oil prices in the global markets due to the Corona virus over a full financial year will create a problem in the governmental financial position," noting that "the only solution to overcome this crisis is to support resources and revenues." He added that "this crisis requires the state to go towards external borrowing to bridge the federal budget deficit, which will be exacerbated by very large numbers," noting that "the current budget deficit amounted to more than fifty billion dollars due to increased expenditures after calculating the price of a barrel of oil at 56 dollars per barrel."

Saleh added that "the additions that got the public job by the current government headed by Adel Abdul Mahdi are estimated at about half a million new employees for this year from a group of four million employees," pointing out that " The financial advisor stated, "The biggest cost in the federal budget for 2020 is the (current) operating budget, which constitutes 77% of its total volume annually, and includes the salaries of employees, retirees, social welfare, and requirements for operating the public job," noting that "changing The size of the operational budget is difficult." Saleh pointed out that "the government pays about (4) billion dollars a month as salaries for the employees of the Iraqi state," noting that "the daily caretaker government is also not authorized to take many positions to address this current economic crisis," stressing that "the size of the deficit will worsen After the decline in oil prices to about forty dollars per barrel, but it is difficult to predict its total volume, pointing out that "the Corona crisis has stopped the Chinese economy, which is the locomotive of the global economy, and therefore will affect the levels of the global economy."

The financial advisor estimated, "Iraq’s economic losses (the difference in oil prices) due to the Corona virus are between (50 to 75) million dollars per day," stressing that "the financial department of the Ministry of Finance is making continuous and continuous updates to the general budget law".  The government adviser proposes, "Restructuring the federal budget according to the current oil prices to reduce the deficit and address all problems and challenges by reducing many non-binding expenses," noting that "the Ministry of Finance has evidence and plans (A), (B) and (C) to meet All expected financial crises, and thus the budget law will be ready in the event that any new government takes over, it will vote on it before it is sent to parliament for approval.

For his part, economist Amer Al-Jawahiri said, "The harm of low oil prices to the Iraqi economy will be very large, but the most important question is what government measures to address this damage in light of the indications for months of low oil prices, especially since Iraq depends in its budget on oil and not There are alternatives to revitalizing the economy." He added in an interview with "Mawazine News", that "some say that the measures to bridge the deficit are by imposing taxes and relying on customs revenues, but these solutions only provide 10% of the budget and now the imports are declining and this reduces revenue." He pointed out that "there is no party in Iraq that works and warns of remedies for economic crises," noting that "there is a need for the state to revitalize the economy by supporting projects even if they are small, because this will feed the labor market and thus feed the economy." And, "This crisis is an opportunity for the state to search for space employees and fight corruption, because investigating corruption will provide large sums to the state." He pointed out, "The price of the dollar, whether it rose or decreased, Iraq will remain in crisis, because during the previous years the price of a barrel of oil amounted to 100 dollars and governments did not establish development projects for the economy."

[DinarThug]

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The parliamentary economy expects the deficit in the 2020 budget to increase to 70 trillion dinars

 

 

 

17:32 - 09/03/2020

 

 

The Parliamentary Economy and Investment Committee expected, on Monday, to increase the size of the deficit in the balance of 2020 to about 70 trillion dinars in light of the continued decline in oil prices, indicating that Iraq will face the largest economic crisis stifling its history.

Committee member Nada Shaker said to "Information", the sudden drop in oil prices and the failed Abdul Mahdi government policy to deal with crises and dumping Iraq with international covenants and loans that will make Iraq in front of a stifling economic stage difficult to get out of.

She added that "with the first decline in oil prices, the budget deficit of 2020 rose to 51 trillion dinars," noting that "in the event of a decline, the deficit is expected to reach from 60 to 70 trillion dinars."

She explained that "the rapid decline and Iraq's total dependence on oil makes it in front of an economic crisis that is the largest in its history and requires the government to make rapid moves, including stopping the payment of external debts for the current year with the lowest estimates and more stringent measures."

[DinarThug]

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The foreign minister reveals contact details with his Chinese counterpart: touching a vaccine kills Corona

 

 

9th March, 2020

 

Foreign Minister Muhammad Ali al-Hakim revealed, Monday, contact details of his Chinese counterpart on the Coruna virus.

Al-Hakim said in a tweet on Twitter: "I had a phone call with Chinese Foreign Minister Wang Yi and his company on behalf of Iraq to send medical aid and Chinese experts to help Iraqi medical capabilities in tackling the Corona virus." He added: "He told us that China is working hard to find the vaccine that will eliminate this virus." Al-Hakim affirmed that "Iraq is keen to praise the best relations with China, and to raise prospects for cooperation to meet the aspirations of the two friendly peoples." Medically specialized in the field of coronavirus response. " The wise minister expressed his wish that China overcome this ordeal by fighting the epidemic and completely eradicating it, calling for his "counterpart to visit Iraq in the framework of strengthening relations between the two countries."

For his part, the Chinese Foreign Minister affirmed that "Iraq is a friend and a strategic partner", praising "Baghdad's stances in support of China in international forums, including the support of their candidate for membership in the Human Rights Council, and the support of a candidate for the post of Director-General of the World Intellectual Property Organization." Citing "China's position in support of the unity of Iraq and its sovereignty, and the refusal of the government of his country that Iraq be a battleground for proxy wars," he expressed his "aspiration to visit Baghdad."

[DinarThug]

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Al-Bayati: Corona will keep Abdul-Mahdi in office, and the blocs have been unable to find an alternative

 

 

 

14:10 - 09/03/2020

 

 

Former MP Jasim Al Bayati revealed on Monday that the political blocs are going to keep the resigned prime minister, Adel Abdul Mahdi, for a longer period of time after political negotiations falter, pointing out that political and popular efforts are heading towards fighting Corona instead of forming a government.

Al-Bayati said in a statement to the "information" that "the Al-Fateh alliance witnessed a conflict over the leaderships after the failure of the alliance with others on the passing of the Prime Minister-designate Muhammad Tawfiq Allawi in parliament."

He added that "the current negotiations are not serious and the prime minister's leadership cannot be decided in the specified constitutional date at all, as some people say," noting that "the other leaders and Fatah are the largest Shiite blocs that are not keen on heading the government."

He explained that "the political blocs want Adel Abdul Mahdi to remain in power for as long as possible until the end of fighting against the Corona virus," noting that "all political and popular efforts are currently focused on facing the virus instead of talking about forming a government."

[DinarThug]

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In the document, the securities warn the citizens of an investing company that claims to be registered in Switzerland

 

 

 

09/3/2020 14:58:20

 

  

The Securities Commission warned citizens against investing in a company that claims to be registered in Switzerland.

 

She stressed the need for the body was not treated as such companies not to fall into the trap fictitious companies that claim to equity investment 

 

 

Translation....

Auto To all media m / Clarify the authority of the Securities Commission in Iraq to the esteemed citizens, the need to be cautious and cautious when investing in some companies that claim to invest in international stocks, such as Unique Finance Company registered in Switzerland, where it was revealed through the website of the Swiss Control Authority - Market Regulatory Authority Independent Finance in Switzerland (its protectorate represents supervision of banks, insurance companies, stock exchanges, stock trading and investment plans) - it is one of the companies that have been warned against dealing with it and this can be confirmed by visiting the following link: OFF / https: // www. finma. ch / en / finma - public / warning - list / unique - finance The same thing was repeated on the website of the International Organization of Securities Commissions (IOSCO) and this can be confirmed by visiting the following link https: // www. iosco. ors / investor protection /? subsection = investor alerts Portal