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

[gregp]

11 hours ago, DinarThug said:

FROM SOCIAL MEDIA ...

 

 
We call on the Iraqi Central Bank to be a plastic (polymer ) currency so that it is washable, sterilized and resistant to damage.
We hope that any new printing of the currency will be of this quality and be replaced over time

 

I like this article...

Thanks Crayola Clown!!

[MyLadiesDaddy]

Thank you 

[Rugbylaird19]

The amount of times that I gave up on this investment seem to be running neck and neck with how many times the Dinar was supposed to RV.

[new york kevin]

4 hours ago, Rugbylaird19 said:

The amount of times that I gave up on this investment seem to be running neck and neck with how many times the Dinar was supposed to RV.

Sad but true .

[DinarThug]

LINK

The central bank issues new instructions for loans in
excess of one billion dinars

 

12th March, 2020

 

The Central Bank of Iraq issued new instructions for loans in excess of one billion dinars

A bank statement received by "Al-Iqtisad News" stated that "with the aim of moving the wheel of the Iraqi economy and supporting productive projects, the Central Bank of Iraq issued new instructions concerning loans that exceed one billion dinars within the initiative (one trillion dinars) to finance small and medium projects

The statement added that "one of the most prominent things included in the instructions is that the financing period become (10) years as a maximum, and that the time limit does not exceed (3) years, while the interest of the Central Bank will be (2%) annually (decreasing) and is calculated from the date the amount falls in The bank account, and to be paid within the monthly installment deducted from the bank, while the interest of the bank (the financing owner) will be (2%) annually as a maximum

The Central Bank of Iraq instructed in its instructions "not to allow the financing of the project that was previously funded from the same initiative, as the determination of the lending and delinquency period is subject to relying on the submitted feasibility study and the opinion of the committee concerned with this type of financing

The Central Bank stressed that "the credit study of the bank must include all administrative commissions that the bank collects from the customer and that are listed in the bank commissions list starting from the date of opening the account and until the funding is granted to him, taking into account that they are one-time throughout the financing period and the committee has the right to reduce the amounts from them

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The central bank issues new instructions for loans in excess of one billion dinars  

https://cbi.iq/news/view/1462

[DinarThug]

LINK

Abdul Mahdi warns of an economic crisis coinciding with
the appearance of the Corona virus

 

 

 

20:54 - 11/03/2020

 

 

The resigned Prime Minister, Adel Abdul-Mahdi , confirmed on Wednesday that Iraq is not alone in the current economic crisis, pointing out that there are treatments that can be taken in order to avoid a large budget deficit.

Abdul-Mahdi said in a speech that I followed / information, that "Iraq is not alone in the current economic crisis due to the low oil prices, as many countries suffer from the same suffering as Iraq."

He added that "the decline in oil prices may reduce Iraq’s imports by about 35 billion dollars, but the central bank's position is sound and contains good reserves, the economic war will not last, and what is going on is a market struggle."

And that "Iraq oil is sold for less than $ 10 on the declared price and is still required in global markets, and whoever wins the economic war are the owners of oil with low cost."

He explained that "the economic war caused by Russia as a result of its refusal to reduce production, but at the same time, the life of the economic crisis is short."

He pointed out that "Iraq needs more than 30 billion dollars in the event of continued low oil prices," stressing that "the operating budget will not be affected and Iraq has great opportunities to overcome the current financial crisis."

He added that "Iraq has a very active agricultural sector, and there is a possibility to alleviate the budget deficit by referring some projects to the Chinese agreement and ensuring that it does not enter within the budget."

[DinarThug]

The struggle for the presidency of the Iraqi government deepens the dispersion of the Shiite forces

- 4 Hours Ago

 

The pressure on Iraqi political parties to choose balanced personalities who are running the helm of the new government deepened the difficulty of completing the mission, especially within the divided Shiite forces.

And entered the constitutional deadline granted to President Barham Saleh to assign a new candidate to form the next government, which is 15 days, the last third of its life, without the Shiite political forces reaching a consensus in this regard.

By next Tuesday, the constitutional deadline will be over, which means that the president has only five days to appoint a new candidate to head the government.

The list of candidates for the position has expanded strangely in the past few days, until it has nearly twenty names, which further complicates the task of choosing a "consensual" personality away from Iran's orbit.

The list includes the head of the intelligence service, Mustafa Al-Kazemi, the advisor to the presidency, Ali Al-Shukri, the official in the Presidency Court, Naim Al-Suhail, the governor of Basra, Asaad Al-Eidani, and the Minister of Higher Education, Qusay Al-Suhail.

It is noteworthy that this list also included both the leader of the State of Law coalition Nuri al-Maliki, the leader of the victory coalition Haider al-Abadi and the leader of the National Bloc Iyad Allawi.

So far, the Shiite political forces have not reached consensus on the new taxpayer, but they have decided to form a special committee of seven members that will shorten the list of candidates to five names, and refer them to the leaders of the Shiite parties to choose one of them.

According to informed sources, the Shi’ite Committee of Seven, held its first meeting, during which it approved a proposal to exclude 15 candidates, whose names had previously been mentioned in the previous negotiations.

According to these sources, confirming this proposal means that all the names mentioned mentioned will be removed from the nomination department, despite the varied chances of each of them in obtaining the position.

Members of Abadi's negotiating team say that Shiite political forces are aware of the gravity of the stage, andthe importance of choosing a prime minister who is consistent with the United States and the West in general,but they cannot get out of the Iranian cloak.

Therefore, Shiite forces loyal to Tehran are trying to exclude any candidate who knows that he will not match the Iranian mood, even if he is qualified to manage a difficult stage, witnessing signs of a severe economic crisis, and the outbreak of the new Corona virus at the international level.

The Al-Abadi team encourages the Shiite forces to open up to nominate Mustafa Al-Kazemi, despite the red lines that the Iranian Revolutionary Guard places on him.

Candidates for government formation
Mustafa Al
- Kazemi Ali Al -Shukri
Naim Al-Suhail
Asaad Al- Eidani
Qusay Al
- Suhail Nouri Al -Maliki
Haider Al-Abadi
Adnan Al- Zarfi
In order to avoid any obstacles to this, Al-Abadi offers another alternative, perhaps the same specifications apply, which is the former governor of Najaf Adnan Al-Zorfi.

Al-Zarfi is described as a fan of the US experience, in which he spent years before the toppling of Saddam Hussein's regime in 2003, and was one of the first returnees to participate in the political process after that.

Despite his almost overt tendency to American political philosophy in particular and the West in general, and his interest in opening up to the Arab Gulf states, this personality has not known rivalries with Iran.

Officials in Najaf confirm that the signs of the city's revival were formed when Al-Zarfi took over his local administration, but the internal political intersections did not allow him to continue. However, it still has wide popularity there.

Observers say that the most important qualities that the prime minister should possess are related to his ability to manage a balanced relationship with Washington and Tehran simultaneously, helping the country to face the economic crisis.

They pointed out that options such as Al-Kazemi and Al-Zarfi, as well as being internationally accepted, would be acceptable in the Sunni and Kurdish political circles as well, which do not prefer the prime minister to be a new version of Maliki, concerned only with Iran's interests.

Others believe that the Iranian decision in this file will be decisive, which means that the Shiite forces may have to make real efforts to persuade Tehran of the need to have an acceptable figure internally and externally, in the position of prime minister.

But the Shiite forces, according to sources familiar with the progress of the negotiations, are not working in this direction, and they are still receiving instructions from Tehran, without initiative.

Analysts had previously expected that the series of strikes that Iran had received since the beginning of this year would limit its ability to maneuver the political beyond its borders.

These strikes are the killing of the prominent General of the Revolutionary Guards, Qassem Soleimani, at the hands of the Americans in Iraq, the downing of the Ukrainian plane and the attempt to evade the scandal.

And reflects the Iraqi inability to invest this Iranian weakness in an independent political industry, the problem of ideological link between the experiences of governance in Iraq and Iran, to achieve the interests of the second at the expense of the first.

The political process in Iraq is not without corruption suspicions that have affected all successive governments since the toppling of Saddam Hussein's regime, and therefore the widespread fears that the new government will be between the jaws of the pincers of this problem again while the street awaits the birth of a "independent" government.

And the judiciary began last February to investigate allegations that political parties offered large sums of money in exchange for buying and selling ministries and positions in the government of Prime Minister-designate Muhammad Allawi.

The purchase of positions is common since 2003, but the exception is the phenomenon in the shadow of the largest wave of popular protest in the country since that date to demand comprehensive change and get rid of the corrupt political class that impoverished the country, despite its richness in oil.

This bazaar has clearly returned to the forefront. For the first time, the judiciary has announced that it is investigating politicians about these allegations, which have accompanied the birth of the four governments for the past 17 years.

The Arabs

LINK

[DinarThug]

The Iraqi Parliament lost in the paths of interests

 

- 5 Hours Ago

 

If history is important to assess Iraqi political life at the present time, then one section of that history indicates the place of the political and cultural elites and their weight in people's lives in amending and changing important paths at the level of governance for the period before the year 1958, when the Iraqi national movement confronted British domination .

Most of the national parties inside and outside the parliament sided, at the time, with the aspirations of the people, and Iraqi history recorded wonderful examples for them, such as the "December leap" in 1948, which became a symbol of the patriarchal history of the current October revolution, when the people and their nationalist opposition movement at the time brought down the Portsmouth Treaty. With Britain and Iraqi Prime Minister Salih Jabr, martyrs fell on the bridge that was named after them in the capital, Baghdad.

This historical paragraph of the activities of politicians and their educated pioneers in the monarchy, and the struggle of the revolutionaries today against the authority of oppression and corruption condemns the present shabby manifestations after 2003 of those who call their name “deputies of the people”, and they only carry from their name their personal cards, their own resources and their influence to pass the agendas of others in the worst An example of a parliamentarian job.

Political life today is not led by real parties but rather by parliamentary blocs and groupings, and even the only Shiite party, the Dawa Party, which carried the title of an advocacy political movement in an earlier period, abandoned it in favor of deals of pillaging public money. Other than that, Shi’ite religious family gatherings and personalities turned into parliamentary blocs, like others on the Sunni bank in which the Islamic Party was immersed in the same high wave of interests, as well as people from tribal homes and business interests within Sunni societies who found in Parliament and relations with the influential Shi’ite ruler opportunities to secure those Interests and multiplying them.

The Kurdish political movement was distinguished from other influential political spectrum in Iraq by preserving its national political personality and national roots that express the aspirations of the Kurdish people represented by the Kurdistan Democratic Party, which remained the first root for the leadership of this movement, and from his prominent leadership, the late Jalal Talabani and the foundations of his party, the National Union, graduated.

The Iraqi parliamentarian has nothing to do with the interests and concerns of the people, but rather with his personal interests and implementing the paternalistic wishes of his leader. Have you heard of a parliamentarian standing among his fans, pledging to fulfill their demands in a decent life compatible with the richness of Iraq and his pledge to step down from responsibility if not, or raising his voice, revealing the game of exchanging interests between political leaders and challenging injustice, tyranny and corruption within Parliament. Parliamentarians implement the wishes of the leaders of their blocs, and if this or that leader discovers that his deputy has deviated from his instructions, he will take him to another fold in search of securing his interests until the end of the electoral cycle.

All 329 parliamentarians, according to official statistics, do not represent more than 20 percent of the electorate in Iraq, and these results were fraudulent. This percentage indicates that the current parliamentary institution does not represent the people of Iraq. A rare minority of individual parliamentarians are honest in their job. In the last days, where fear and fear of the inevitable fate imposed by the October Uprising demanded its dissolution of Parliament, the phenomenon of rebellion has emerged over the leaders ’decisions revealed by the numbers of the attempt to pass Prime Minister Muhammad Tawfiq Allawi, despite the agreement on it among the major Shiite blocs, but the number of voters was 108. Among them are Sunni, Kurdish and Turkmen parliamentarians, which means an absence of the compass of Shiite leadership.

Were it not for the blessing of the Internet and social media on parliamentarians and their solidarity with them, the public would not have known their names, faces, and nicknames, and if they came out of ancient cities, governorates and families, they would have offended those families and tribes, cut off from them and would have resided within the Green Zone reserves or fortified homes according to their levels.

Most of these parliamentarians recently turned to the informants of the moment. Through the blessing of the “Twitter Tweet” conveyed to them by US President Donald Trump, we are now following news of the lists of candidates for the presidency of the ministry expected by some parliamentarians in a tedious repetition of the level of backwardness and misguidance experienced by these people. These are dominated by a delusional feeling that they are issuing political statements to the public through those tweets or buying them for some cheap press pens, and they are deluded to lead public opinion when Iraqi and Arab satellite channels host them under headings that do not have the truth in relation to the analyst and strategic expert or representative of the Parliamentary Bloc as those channels seek to fill The broadcast void while leaving its profession and offending the viewers ’mind.

In democratic countries that respect their citizens, the parliamentarian spends his service period without supernatural privileges, such as that in Iraq, then returns to his previous job and gets his retirement from it, not from his temporary popular service. But in Iraq, there is another story that must end.

The Arabs

LINK

[DinarThug]

4 hours ago, DWS112 said:

72 hours away from the appointment of a consensus figure to head the government

12/03/2020
 

 

awaits the Iraqi street within the next 72 hours, assigning a consensual figure to head the interim government, succeeding Muhammad Tawfiq Allawi, who has apologized for assigning the government because of pressure from political blocs.

It is expected that the Iraqi blocs and parties will enter during the next few hours a critical stage to nominate a candidate to form the new government to manage the country's business temporarily and prepare the ground for early general elections, and the formation of a new government for the next four years, according to the electoral system in Iraq.

Well-informed political sources told Mawazine News that "President Barham Saleh will, within 72 hours, be assigned a consensual figure by the political blocs of the prime minister."

The sources indicated that "the political blocs stressed the need to nominate a prime minister outside the framework of partisanship after the political process had failed for 16 years."

And the Prime Minister-designate Muhammad Tawfiq Allawi presented earlier this month a letter of apology to the President of the Republic, Barham Salih, according to which he refuses to form the Iraqi government.

The announcement of the apology came after the Iraqi parliament again failed to resolve the issue of giving confidence to its government due to the lack of a quorum. 

 

LINK

Deputy: 3 new personalities arrived at the Seven Committee and the announcement of the candidate for prime minister is
imminent

15:43 - 12/03/2020

 

On Thursday, al-Fateh MP, al-Kanani, affirmed that the Seven Committee will announce the name of the new candidate for prime minister soon after the arrival of 3 new names for the position.

Al-Kittani told / for information / that "the Seven Committee reached advanced stages of consensus regarding choosing a new personality for the prime minister," noting that "three new personalities whose names have reached the committee."

He added, "The issue of choosing the new prime minister will be resolved in the coming hours," noting that "one of the personalities of academics."

Earlier in the day, the State of Law coalition, headed by Nuri al-Maliki, confirmed on Thursday that the Seven Committee, which includes the main Shiite forces, has full and absolute powers to choose the prime minister. 

[DinarThug]

Member of Parliament Finance: The state has no authority to reduce the dinar’s value .. The decision is in the hands of a single party

 

 

Politics 03/2020 19:56 485 Editor: amm    
Baghdad today - Baghdad  

 

Member of Parliamentary Finance Committee MP Ahmad Hama Rashid, Thursday (12 March 2020), said that the demand for a move to change the Iraqi dinar exchange rate against the dollar, or what is known as (floating the dinar), to face the fears of the economic collapse should be the last economic solution In the event that all other attempts fail.

Rashid said, in an interview with (Baghdad today), that "the current or future government cannot change the exchange rate of the dollar against the Iraqi dinar because the monetary authority is independent and has no authority over it."

Rashid said, "If things require and the monetary authority in the country (with the financial authority) decides to change the exchange rate, there are different views of the Finance Committee in terms of opposing some and supporting others, because changing the exchange rate will lead to an overall inflation of all components of Iraq."

He continued, "But is this the economic solution, I believe that the last ironing-out medicine, and if necessary, I will be a supporter of such steps." 

And the former Minister of Transport, Amer Abdel-Jabbar, expected, on the day before yesterday, Tuesday, to reduce the salaries of employees and increase deductions and taxes, due to the decrease in oil prices in Iraq. In order to reduce the budget deficit. 

In his speech to the program (A View), which is presented by Dr. Nabil Jassem on the screen of (Degla Satellite)), he pointed out that "the continuation of monetary policies and the current government in the same contexts with the sharp decline in oil prices will be disastrous, and the employee should expect to deduct his salary, perhaps for half or exchange part From his salary every two months, "noting that" the next stage may witness a decrease in employee salaries and increase in deductions and taxes to reduce the budget deficit. " 

He added that "the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive. "

And between "we fear a government decision to reduce the price of the dinar against the dollar to 1300 or 1350 in the event that the drop in oil prices is catastrophic, this float will cause the price of commodities to rise and burden the citizens, the state may use it to reduce the budget deficit."

Abdul-Jabbar continued, "The government's decision to place customs and other exemptions to remove visa amounts with some neighboring countries has harmed Iraq and contributed to preventing the entry of important revenues to the state," noting that "since 2018, he warned of low oil prices in 2020". 

He pointed out that "the advisory base available to the Prime Minister is not qualified to deal with major crises, especially those related to low oil prices." He added that "the current advisers are friends of the Prime Minister, one of them told me: whoever understands his work with specialists will not enable him to reach the Prime Minister." Because it will take the place of others. " 

Abdul-Jabbar said that "the recent appointments made by the Prime Minister killed the state and burdened its financial resources, and there is a 200-square-meter department with 270 employees."

Earlier yesterday, the Finance Committee revealed the fact of discussing lowering salaries of employees and retirees after the drop in oil prices.

The committee confirmed, according to a book issued by it, "The news circulated regarding the reduction of the salaries of employees and retirees is incorrect, and it categorically denies the intention of the financial committee or the parliament, and the government delve into this issue as it is an acquired right."

link

 

Edited March 12, 2020 by DinarThug

[DinarThug]

Sources: The President of the Republic sets a "final" deadline for submitting a candidate for prime minister

 

Policy  ,   03/12/2020 17:22   

 

 

 

Baghdad - Iraq today:

 

Well-informed Iraqi political sources said on Thursday that President Barham Salih had given the Shiite blocs until next Monday to agree on a new candidate for prime minister.

And quoted an "informed" political source that "Iraqi President Barham Saleh gave the Shiite political blocs until next Monday, to agree on the nomination of a new prime minister for Iraq so that he could assign him."

He added that, "Saleh sent during the past two days to the Shiite leaders concerned with the nomination of a new prime minister, a message urging them the importance of reaching a candidate no later than next Monday, which is the end of the constitutional deadline of two weeks to assign a new candidate."

The source quoted Saleh as affirming his "clear" assertion in his letter that "the end of the constitutional deadline means a constitutional violation that cannot be justified under any pretext, in addition to that article 76 of the constitution gives the president of the republic the nomination of whom he deems appropriate, regardless of the largest number of parliamentary bloc."

The source pointed out that “the president of the republic, to whom the constitution offers this option, may resort to it because he takes into account two basic issues. The first is that the position is from the share of the Shiite component, and therefore he does not want to be in any way a party to this conflict, and the second is that he takes into account the situation The complex composition of the Iraqi parliament that represents the different Iraqi ethnic, religious and sectarian components.

He continued, saying, "Therefore, any candidate cannot gain confidence from within Parliament unless it is agreed upon within the Parliament itself, at a time when these blocs are witnessing a sharp division due to the repercussions of the political situation."

He pointed out that “in light of the failure of the Shiite leaders and leaders to resolve its final position on this issue,” among the options presented in the event that the nomination of a new personality for the post was not reached, after the apology of the former commissioner, Muhammad Tawfiq Allawi, to reassign the resigned Prime Minister, Adel Abdul-Mahdi, In light of the semi-American-Iranian consensus. ”

LINK

[DinarThug]

Expert group to develop a package of economic reforms

 

Wednesday, March 11, 2020

 

 

Baghdad / Al-Sabah / Muhannad Abdul-Wahab 

 

 

Outgoing Prime Minister Adel Abdul-Mahdi directed a "series of measures to mitigate the negative effects on the economy and the citizen as a result of the low oil prices and other conditions the country is going through," at a time when members of the House of Representatives called for the formation of a team of economists and financial and legal experts from the government and private sectors to consult International to take a package of measures and economic reforms to avoid financial and economic deterioration. A statement of his media office, which was received by Al-Sabah, stated that the resigned Prime Minister Adel Abdul-Mahdi chaired a special meeting yesterday, Wednesday, on the general budget and the repercussions of the drop in international oil prices and confront the Corona virus, and to diagnose the current economic situation and how to reduce the burden on the budget and stimulate the movement of the economy.

Abdel-Mahdi, according to the statement, directed "a series of measures to mitigate the negative effects on the economy and the citizen," confirming his confidence in "the ability of Iraq to overcome challenges and build on the economic and health successes achieved."

On the other hand, the Ministerial Council for Economy held an emergency session chaired by the Deputy Prime Minister for Economic Affairs and Minister of Finance Fouad Hussein.

The media office of the Minister of Finance said in a statement received by "Al-Sabah": "The Council considers mechanisms to reduce the impact of low oil prices in global markets on the economic and social situation in Iraq and take measures to protect the living standards of citizens and provide the capabilities available to address the Corona virus and the Council will continue to hold its sessions in The coming days to reach appropriate solutions to crisis management. "

In a related context, the deputy for the rule of law, Mohamed Shiaa Al-Sudani, told Al-Sabah: “The political blocs must accelerate the selection of a prime minister; Special and requesting international consultation to find a package of measures and reforms "...
LINK

[horsesoldier]

I find it difficult to believe there's an " expert " anything in Iraq; barring there are plenty of " experts " when it comes to money laundering, bribery, theft, murder, larceny, kidnapping, extortion, graft . . . okay, correction - they do have experts; my error.

[DinarThug]

https://cbi.iq/news/view/1463

Reducing the Iraqi dinar exchange rate - determinants
and alternatives

 

 

12th March, 2020

 

» Reducing the exchange rate of the Iraqi dinar - determinants and alternatives - 
( a study by Mr. Ali Mohsen Ismail, Governor of the Central Bank of Iraq ) ... 
To see click here

Page 2....

Reducing the value of the local currency (is the reduction of the official 
exchange rate for that currency against an international reference currency, where 
the number of units of foreign currency that can be obtained against a unit of the 
national currency decreases, but in the case of Iraq, this means reducing the value
of the Iraqi dinar against the US dollar It differs from the low exchange rate
(Depreciation) subject to the mechanism of supply and demand in the market if 
the relationship between devaluation and the reduction of the trade balance deficit 
and stimulation and the national economy is not a mechanical relationship, but 
rather a conditional relationship to many factors and determinants as is the 
experience of countries, then to reduce The currency in Iraq breaks down From 
trying to reduce the state’s public budget deficit due to the growth of expenditures 
at unprecedented rates, and that the factors and determinants in this case are 
more and broader, and the nature and content of their effects may differ, this 
stimulation may have adverse and negative effects, and the mode A rise in the 
paths of institutional weakness, and general turmoil, the devaluation of the currency 
has negative and multiplier effects over many times with you.

The Author In this study reviews the dates of reducing the value of the local currency 
and which can not be reduced, the study concludes that the goal of reduction in the 
case of Iraq is to ease the budget of the General Budget (through the purchase of the
dollar from the Ministry of Finance at a higher level). It is handled first to reform its 
statements and increase the revenues of the state and the control of non-productive
expenses and treatment of many imbalances and the imagination of economic 
policies, trade and investment), as well as resorting to the option of reducing the 
value of the local currency and the investment of the current currency of the local 
currency is the following: 1. The case of the external sector (the balance of 
payments). The effect of reduction in the economic consumer. The implementation 
of the social categories of government. The above-incurrant government reduction. 
The reduction of the relevance of social support. 5 - The effect of reduction on 
confidence in the public currency.

Page 3.....

We review the nature and reality of factors mentioned in the case of cases 1. The 
external sector (balance of payments) Enjoy Iraq's strong position in the external 
sector (balance of payments). This is clearly adjusted by the rate of the rate: a 52% 
of GDP in the year 2019 and expected to continue at 2020 and beyond. = MEDE is 
the foreign reserve about about $ 0% billion - GDP, AIR 30% of the GDP, AIR 30%
of the GDP, the reserve of the IMF and the United States of the International 
Monetary Service and the reserve of the reservoir. The reserve and the reserve of 
reserve. Reset when there is a clear and continuing deficit in the balance of 
payments, which is why a resort to the rewards of the local currency, which does 
not apply to the Iraqi currency in the near in accordance with the indicated indications

2 - The effect of the reduction on consumer prices: Auto The effect of the devaluation 

on consumer prices depends on the following points: the percentage of imports from

 domestic consumption. The higher this percentage, the greater the impact of the

 reduction, as is the case in Iraq, where it suffers from limited domestic production 

and a decrease in diversity and dependence. Mainly on DEE imports and Availability 

of Local Products - the effect of currency devaluation decreases whenever local 

alternatives are available for products that compensate for imports, a situation that 

does not apply to Iraq. The following table shows paragraphs of the CPI basket that

 are likely to be affected by devaluation Dinar, and The table indicates its weights in 

the basket, and the percentage of the importer from it, and from the table it appears 

that the dinar reduction is strained in the consumer basket, and on the assumption 

that the dinar is reduced by 30% and on the assumption that 50% of the goods are 

imported goods, consumer price inflation increases by 12.9%.

Page 4 ....

Core Inflation level, shower, and the effect of currency encryption is higher in 
countries where inflation is high, prisons drop their prices quickly and Iraq does not
 suffer from high incidence, but by relying on imports, the effect will be derived from 
this phenomenon OFF Level of devaluation of the local currency (Scale of 
Devaluation): If the level of devaluation is large, it will lead to a significant increase 
in the rate of inflation, especially if other factors do not help to curb inflation, but if 
the level of devaluation is a little, the delay in adjusting Prices from producers are 
possible to maintain stable market share and in case In Iraq, which depends on 
imports to meet its consumption needs, the devaluation of the currency is often quick
 and direct, whether the devaluation is low or high. OFF MODE 3 - The effect of 
currency devaluation on increasing growth and trade (Growth and Trade Effects. By 
devaluing its products locally, the level of the effect of devaluing the local currency
depends on the components of exports, imports, and flexibility in the markets. (123)

Page 5....

Authori's tests (especially the developing countries) and economic evasions have 
proved that the relationship between the reduction of the currency of the currency 
of the trade balance, the motivation of the national economy is not a mechanism. 
It is a conditional relationship with agents and determinants and conditions of each 
country, and that there are basic workers who are prevalent of the most important 
factors that determine the effectiveness of any exchange rate of any currency of the
 national curriculum (technology, financially, and buyer) The manufacture of imports
 of importance is the mainstream of the extent that is the most important of which 
have the most important of which have the most important of which have the most 
important of which have been identified. The current level of energy is the 
mainstream of nationality, which is determined to provide the effectiveness of any 
otherwise the most important of which have been identified. The current level of 
nationality of nationality is a major quality, the most important of the importance 
of goods and the construction of imports of importance of the exchange of the 
currency, which is determined to ensure that the local currency is the same as the 
country's extent that the relationship between importance is the extent that the 
standard of importing the value of the mainland, which is determined to ensure that
 the local currency is a small quality and the revenue of the export of the exchange
of exports in the exports of crimes and crude for the exports, and the extent that 
the exports are of Iraq's excellent and this is a result of the reduction of imports of 
capital.  

On the social catastrophears to the government in the case of Iraq, the number of 
staff, retirees and the funding of the Social Protection Network is about 6 million 
mandates, taking into account the two women (at 5,800 members of the latter of 
the most of the most vulnerability to Iraq than what they meet from the salaries of 
government and the government. We are a point to the main capacity of the exposure
 of specific widespread and the mitigation of the government's salaries, the 
maximum of the government's expenses, the relevance of the government's 
mainstream and the comprehensive salaries, the reduction of the basis of public 
finalization, the reduction of the value of the final off of the local public off. The 
reduction of government expenses for support through the general distribution 
system may be amended by the card distance and the command of the card will be
reduced to the citizens, which in order to ensure the power of the purchasing 
power of the citizens of the cash, the contribution of the cultivation of the citizens
recipient of those who are citizenship, which in the case of Iraq does not currently
hold a regenerated amount.

Page 6...

The Effect of Recommendation on Debt When the country is our religion and 
payables in the currency of the country of the country, the debt of the debate of 
the State shall be increased in the country's national budget. Their deficit is 
being allocated in a different currency in the country. In the case of the national 
debt and benefits of its national work, the reduction of its reinforcement of its 
national work is made by the country. The $ 64 billion diligence is the border of the 
Dinar), the dune of the Dinars ($ 103 billion). The donation of the duration of the 
Dinar) is $ 409 billion. The donation of the Dinar is a number of $ 2 billion Dollars. 
The current allocation will be blowing $ 5 billion. $ 1. 182 dinars at $ 5. 9 trillion 
dinars. In the case of reducing the currency Diseases by 20%, For example, the 
annual amount of the year to 7.5 Trillion Dinars per year.

Domestic debt without blood change, raid with money, reasons for lowering the 
basket’s value, water imports from the government from converting dollar oil 
revenues into dinars, in addition to other effects, which raises with it the domestic
 product, and the ratio of the gross domestic debt is affected as a result. However,
 this God does not exceed 2 % Decrease in the ratio of public debt to GDP (in the 
case of Iraq according to the amounts mentioned above, as the public debt is the 
debts of government banks (transfers M) and the central bank treasury transfers),
the devaluation of the currency will lead to a decrease in the value of the debts of 
banks and the central bank against the dollar. Reduction in s The value of the local 
currency, i.e. the value of the assets of those banks, is denominated in dollars, and 
the central bank reserves are affected, as the finance ministry is actually repaid to
 the central bank in dollars (from the Ministry’s debts and the MODE is calculated 
in dinars in dinars according to the official exchange rate, thus preserving its 
reserves, but in If the currency is depreciated, the Ministry of Finance pays a lower
amount of the dollar according to the new lower price, which affects the reserves
by the new low.

Page 7....

The impact of the devaluation on local currency confidence: The devaluation of the

 national currency can undermine confidence in the national currency in the 

absence of structural reforms, and general instability, and the more inflationary

 pressures (with a speed of د local currency devaluation), the greater the pressure 

on demand for the dollar Weak appetite for creations in the local currency and the 

conversion to foreign currency, and pressure increases on the price of o an exchange 

that causes increased demand for currency substitution and disposal of local 

currency, as speculation in the exchange market increases. The exchange rate of 

the Iraqi dinar linked to the US dollar is stable For years, and to enhance and sustain 

confidence, it requires officials to make additional efforts to explain the reasons, 

 justifications, with the aim of changing the exchange rate, and to give signals by 

following a discreet policy to control the exchange rate, where negative expectations 

can occur and confidence in the local currency is weak; if it becomes clear that the 

currency devaluation It occurs whenever the authorities encounter financial 

difficulties

(C) and the financial management of the market. (.) The following the tools for the
 extent possible, the basis for the relevance of inflation. The evaluation of the 
exchange of the inflation. The evaluation of the exchange of expenses and the
 increase in the rate of inflation. In the case of Iraq, the tools of the cash on the 
growth of inflation can be a reversely influence of the influence of the publication 
of the public currency [General] (Mainland) The revenue of the exchange rate of 
$ 18.9 Round of the exchange rate of $ 6. 9 trillion dinars, During the reduction of 
the exchange rate of the ratio of oil crimes Oil, In the case of reduction of the dinar 
by the price of the ratio of oil crimes Oil, In the case of reduction of the dinar by 
the price of the ratio of oil crimes Oil, In the case of reduction of the dinar by the
price of the ratio of oil crimes Oil, In the case of reduction of the dinar by the price
of the ratio of oil crimes Oil, In the case of reduction of the dinar by the price of 
9. 9 trillion dinars, During the revenue of the exchange rate of 9.9 Round. (9) 6.)

Page 8....

29. 8 trillion dinars in the case of reduction of the dinar by 30%, and the non-oil 
revenue is supposed to be brought by 0.1 trillion dinars, 0 trillion tirers for reduction
 (10% and 30% respectively). Expenditure can be seen significantly, the 
assumption that the government is able to control the item is the most of the most 
of the goods and services - external religion benefits - external rebels' interests - 
Investment and external contributions - Oil-related investments - (China Most imports)

Is a total of 122 trillion dinars in the case of reduction of 10% and total of 
130 trillion dinars in the case of 30% reduction in the amount of origin of 118 trillion 
dinars (increase of the reduction of the dinar exchange rate) that the net effect of 
2020 (according to the rate of randomization) and is a positive impact of the (2)
 trillion oriented, and (8) 48% of the trillion or a. (6%) and the 30% of the 
following: 0% OFR FORD MANDE DEBAL DUBAL DHA% (30% and 30%) Budget 
and the effect of the amounts 

Page 9 graph

Page 10....

On the table Auto and the mounting price of the US $ 76 per barrel and export rate 
is calculated at 8.380 million barrels per day, the calculations that pay in dollars are
 corresponding to the dinar by the exchange rate dinar in the reduction rate of the 
dinar's value of 10% and 30% of the expenses that are payable in the dinar, although 
expected inflation is due to the reduction of the value of the dinar will lead to the rise 
of those expenses, especially since the higher expenditure is payroll, wages and 
retirement that the salary law is annually annually. The level of inflation is the level 
of inflation, which will reduce the positive impact of fulfillment of the high level of 
inflation 2 and applies to the salary of the social protection network 

Page 11 ...

It is possible to apply the methodology for measuring the impact of the value of 
the national currency for any year of the state's general budget years when testing
 potential balls in the case of thinking about currency devaluation and in light of 
the estimated figures for the general budget for these target years 1 - The
 devaluation of the Iraqi dinar at the present time is not an urgent need For 
reasons  - the reserve position of foreign currencies is highly adequate in accordance 
with international standards, at a rate of more than 30% of GDP, and the surplus in 
the revised current account has achieved a surplus of 5% of GDP in 2019, and is 
expected to continue E in the year 2020 and beyond. B - That the monetary and 
financial policies are unable to take adequate measures to curb | Inflationary 
pressures resulting from the devaluation of the local currency exchange rate due 
to the ineffectiveness of the two policy tools, political, economic and financial 
reasons, which causes security, political, social and economic instability due to the
 nature of the behavior of the financial, banking and private sector: the decision to 
reduce the value of the national currency in unstable conditions is a decision that 
has negative effects Doubling and creates expectations for further devaluation, 
confusing market conditions and increasing demand for foreign currency with weak 
confidence in the national currency

The reduction of the local currency value to the inflationary pressures, most of the 
citizens bear their negative impacts due to the lowest powerful citizenship. He also 
confirmed as the two majority: First: the adoption of the majority of citizens to 
meet their salaries and wages from the government, the reduction of the currency
 is a tax that will be able to enter (by inflation) unless the government increases 
the salaries and wages to counter inflation, the compensation of the exchange rate 
of the exchange rate and the retirement of the exchange rate of exchange of staff
 and the retirees are not exceeding the salaries of exchange rate of employment 
and retirees, the salaries of government exchange of employment, the rewards of
 the exchange rate and the retirees are not exceeding the 60% trillion Dinars: The
 citizens who have suffered government support through the network of social 
protection, because the government has increased the basis of the basis of the 
purchase of their purchase, [The premium and the result of the government and the 
result of the basis of the basis of the purchase of the pre-citizens, the adoption of
Iraq to the revenue in the most of its needs Consumer

Page 12 ....

The direction of the exchange rate of the Iraqi dinar from the government or 
parliament is to attempt to cover the budget deficit of the State because of the 
weakness of the expenses of the public and failure to maximize non-oil revenues 
and is an option that is easy to time as the dangers of the imbalance and the 
budgetary financial discipline and the re-construction of the State budget is in the 
framework of the overall macroeconomic requirements and in the light of the 
extent of the financial policy and the purely policy, in light of the extensive 
opportunities of the State of the country's powerful and the intention to maximize 
the current relevant access to the revenue of the state of the state of the country 
of the government, "In addition to the extent of the extent of the necessary 
financial statements, the light of the necessary financial and financial policy, in 
light of the extent of the financial and policy of the financial statements in the 
framework of the requirements of financial and policy, in light of the extent of the 
financial and policy of the financial statements, the light of the necessary financial 
and policy in the framework of the requirements of financial and policy, in light of
the extensive financial and policy requirements, in light of the extensive 
opportunities of the State of the country's powerful and the intention of mandate 
the basis of the country's access to the country's current financial and the 
investigation of the budget of the State of the State, which is suffering from 
the most important of which the most likely the most important of which the 
most likely, the purpose of this policy is the need to do, and the reduction of its
goal at the level required as where is the need to do the following, the relevant 
preparatory budget in the framework of the requirements of financial mutuality 
and in the light of the broader and policy of the financial statements, in light of
the extensive opportunities for the financial statements and the intention of 
mandate the opportunity of the State of the State of the State and the intention
(translation problem above so ignore repitition thanks)

The real sector (industrial and agricultural) is low, and the percentage of its 
contribution to gross domestic production does not exceed 5%, and Iraq's 
exports (other than oil) are very limited and do not constitute any percentage
in the trade balance, and the advancement of the industrial and agricultural 
sectors will take many years with effective plans and policies Usually, the value 
of the local currency is depreciated in countries that have high export capabilities,
and customs policy is ineffective at the present time and is the first line of 
defense and the basis for protecting domestic products to stimulate production. 
Anarchy of imports, loss of control and control of border crossings, counterfeiting 
and counterfeiting Ed and smuggling, which causes the Iraqi market to be 
tolerated and flooded with cheap goods that curb attempts to advance local 
production, and before resorting to the option of reducing the value of the dinar, 
these conditions should be corrected so as to ensure the application of customs 
laws, protect the local product, fight dumping, and protect the consumer. 
( 5 - Since the goal of the reduction is realistically aimed at improving the 
financial position of the government, and filling the public budget deficit due 
to the continuous escalation of budget expenditures, before resorting to the
option of reducing the value of the dinar, exhaustion of other solutions has been
shown by digital analysis as However, the reduction does not achieve the goal 
of bridging the budget deficit except by a very small amount that is not comparable
to the many negative effects that have been clarified and are available at a value 
that is much greater than what can be obtained from the devaluation, and that 
other solutions have achieved corrective, structural goals that provide financial 
sustainability, and have Positive effects, economic, financial and social, for example,
 not limited to, we refer to some aspects or rounds

Page 13....

Waste in state resources, which if placed in the proper framework and in the 
framework of efficiency and economic, it achieves a great boom for the general
financial conditions 20 billion = = e and it uses refineries to produce oil 
derivatives, and the Ministry of Electricity (Electricity Production) up to one
million barrels of oil, its value Market (in the global market) and increases 
dollars (equivalent to 23 trillion dinars), compared to that the government 
treasury receives less than 10% of the said amount. . The value of annual
imports is about 50 billion dollars. Revenue from customs duties on these 
imports is estimated (6) to (8) trillion dinars annually, while the percentage 
of receipts does not reach 10% of the assumed fee amounts! . The annual 
allocations to support losing public sector companies, and the grants allocated 
to self-funded entities (according to their laws), amount to more than
 (4) trillion dinars annually, direct tax revenue 2. 5 trillion dinars, or 1% to 
the gross domestic product, while the rate of direct tax revenue to the gross 
domestic product in the Arab countries is 7%, and it is worth noting that these
 low revenues are not due to the low tax rates in Iraq but rather as a result of 
the failure of the tax apparatus  - all its corruption and rampant 
corruption

The lost amounts are difficult to pin down, but they are definitely trillions 
of dinars. The Ministry of Finance possesses a huge balance of real estate 
(lands, buildings, agricultural lands), and then recently inventory of what can 
be rented or sold by up to 7 trillion (during the year 2020) and more than that 
in subsequent years the bill of salaries and wages in the year 2020 is about 
52 trillion dinars, or 85% of oil revenues (after excluding the allocations of
 licensing contracts), an increase of (8) trillion dinars for the year 2019 and 
an increase of (16) trillion dinars for the year 2017. These increases and spikes 
in the salary item threaten the state’s finances, as well as they do not Achieve 
any additional value other than emptying the state’s budget from achieving 
important and necessary development goals. This growth in increasing these 

expenses is greater than any devaluation of the dinar  6 - stabilization of 

heartbreak plays an important role in foreign investment flows, and gives the 

option of resorting to the exchange rate whenever conditions of government 

spending are required, which gives a negative signal to investors

 

 

Edited March 13, 2020 by DinarThug

[SocalDinar]

gotta factor in inflation too,

[horsesoldier]

Hmm....looks like they’re employing those tried & true methods of “ Rocket Surgery “ to figure this out ?  

[DinarThug]

LINK

Trump: I spoke with Muhammad bin Salman about oil prices

 

 

12th March, 2020

US President Donald Trump confirmed on Thursday that he had spoken with Saudi Crown Prince Muhammad bin Salman about the current situation in the oil market, expressing his satisfaction with the current level of oil prices. "I asked him what was happening," Trump told reporters at the White House, on Thursday, in response to a question in this regard. "They have differences with Russia, and this is what pushed oil prices down."

He continued, saying: "I can tell you that oil prices are now at the level that I dreamed of because gasoline prices will drop a lot, and the drop in gasoline prices is tantamount to reducing taxes, and this is a significant tax reduction for the consumer."

It is noteworthy that oil prices have fallen by about 30% since last Monday in the wake of the failure of the "OPEC +" negotiations on reducing oil production, as Russia opposed the proposal to reduce production by an additional 1.5 million barrels.

[DinarThug]

LINK

A deputy proposes imposing taxes on the middle and high
classes as part of the reforms

 

 

13th March, 2020

MP Muhammad Shi'a Al-Sudani called on the political blocs to speed up the selection of the next prime minister, while proposing imposing taxes on the middle and high classes to bridge the budget deficit.

The Sudanese said in a statement received / Mawazine News / a copy of it, that “the political blocs must accelerate the selection of a prime minister; On a package of measures and reforms.” He added, “It is important that these measures are far from prejudice to the poor class, and that they are directed to middle and high income earners with degrees equal to the level of income; whether they are tax measures related to the rest of the state’s joints from laws or other measures, taking into account its budget the standard of living and the prevailing poverty rate In many provinces.”

Al-Sudani said, “The most important measures that must be taken are: combating corruption of all kinds and forms, reducing the waste of public money that drains the state in these economic conditions, developing non-oil revenues such as taxes and customs, and the need for strong control over the ports to ensure that fees are met according to the law.” Noting that "the government has to take measures to reach a complete solution to the problems with the Kurdistan region, the most important of which are the exported oil and customs in the region's outlets with the outside, and to reconsider the operational budget by stopping some exchange doors and limiting it to the necessary ones."

He stressed "the importance of activating the central bank initiative for bank loans (industrial, agricultural and real estate) and housing, and directing this initiative to medium, small and large projects, as this will support the sectors of industry, agriculture and housing and create job opportunities, as well as preventing or limiting the import of unnecessary goods to make room for the product The local market to cover the local market needs and what it represents by generating job opportunities and maintaining the foreign currency inside the country.

The Sudanese MP pointed out “the importance of checking the numbers of employees, sorting the aliens from them and those with dual salaries, stopping some allocations and reconsidering them, reviewing the currency auction and adjusting the dollar exchange rate so that it does not burden the poor class.” 

[DinarThug]

The collapse of oil prices will push Iraq into the unknown

 

- 48 Minutes Ago

 

 

Despite the economic crises that Iraq faced during the last decades, the state of state employees was better and more stable than private sector employees, but the recent challenge that occurred after the price of a barrel of oil in world markets fell to about $ 30 was considered a major threat, especially that Iraq It mainly depends on the revenue from the sale of oil.
The employee at the Iraqi Ministry of Electricity, Muhammad al-Jumaili, said that the real danger posed by the decrease in oil, which fell a lot from the price specified in the budget, pointing to news that was circulated about the possibility of the state reducing employee salaries to face the new crisis.

In the government meeting on Wednesday, the caretaker head of government, Adel Abdul Mahdi, considered that the collapse of oil prices does not mean that Iraq has become bankrupt, adding that "Iraq faces great challenges, but it is able to overcome them," adding that the central bank's situation remains sound in terms of its reserves and currency.

A real vow
that citizens fear of an imminent economic crisis confirmed by economist Hammam Al-Shamaa, who explained that Parliament approved the price of a barrel of oil at $ 56 for the 2020 budget, and with the recent decline of oil, the budget deficit will reach approximately $ 35 billion, and the state will be unable even to secure employee salaries. Note that the volume of Iraqi crude exports is more than 3.5 million barrels per day.

He added that if the government does not speed up taking firm measures, there will be no way out of the crisis.

For his part, member of the Parliamentary Finance Committee, Faisal Al-Issawi, explained that Iraq is a single supplier and is completely dependent on oil, and will be affected by the sharp decline in crude prices globally, pointing to the financial effort to do its utmost to secure the full salaries of employees, the ration card and basic materials that target mainly fragile classes.

In response to the rumors circulating about reducing employee salaries, Al-Issawi disclosed that the Finance Committee unanimously adopted a decision that salaries must be fully secured, and that the committee is working on forming a crisis to fill the expected deficit or reduce it significantly.

Challenges
and about government administrative failures, Al-Shamaa considered that the authorities follow the policy of prosthetic solutions, stressing that the recent decisions to appoint employees of electricity contracts and their counterparts are satisfactory solutions aimed at silencing the demonstrators' voices, but they exacerbated the country's economic crisis.

Al-Issawi's point of view comes in support of Al-Shamaa, as he pointed out that the recent contracts of the electricians are a failure for which the Minister of Oil and the parties based on the matter are responsible, stressing that they are contracts outside the law and not allocated sufficient funds.

Al-Shamaa warned about the fears that Iraq will fall into big debts that will weigh on it for many years, affecting the reconstruction strategy that the provinces that rid of ISIS control aspire to.

Measures
Despite the difficulty of finding a way out of the crisis in the collapse of oil prices - which declined to close to $ 30 per barrel at the beginning of this month before gradually returning to a partial rise - it is possible to have rescued measures even for the distant future.

According to Al-Shamaa, stopping and ending the financial corruption that rages across the country, returning the looted from the people's money, and reducing the salaries of senior state officials to a reasonable extent, will return to the state treasury significant funds to face the potential setback.

And Chamaa continues to say that it is possible to save $ 50 billion if the government works to erase hundreds of thousands of fake jobs in various ministries, and to cancel the salaries of the Martyrs and Prisoners' Foundation, in which many receive more than one salary at the same time.

And Iraq is not free from the possibility of revenues supported and oil wanted to reduce the expected fears and storms of the Iraqi economy, Al-Issawi explained the necessity of organizing the revenues of border outlets, taxes, and water and electricity levies, without increasing the burden on the citizen.

Political Impact
Oil has been associated mainly with managing the country's joints as almost the only source of budget for government departments, so low crude prices will push the country toward a stifling crisis, according to the head of the Center for Political Thinking, Dr. Ihsan al-Shammari.

Al-Shammari pointed out that one of the motives for the protest movement that the country has been witnessing for months is the high unemployment and poor services, and any new prejudice to the salaries of state employees would push hundreds of thousands of others to engage in the protest movement, which would constitute a major challenge for the state.

Al Jazeera

 

link

[DinarThug]

From The Outhouse To The Shiite House !  

 

     
 

The "Shiite House" proposes three scenarios to form the Iraqi government

 

- One Hour Passed

 

 

During the past few days, the Iraqi political scene witnessed an active movement within the corridors of the Shiite house, which resulted in the formation of a "seven-party" committee of Shiite forces to agree on a "non-controversial" figure to run for prime minister.

The Shiite movement comes after Muhammad Allawi’s apology for forming the government at the end of last month, because he was unable to persuade the political forces of his government formation that is far from quotas.

Informed political sources indicate that the Shi’ite “Seven” Committee was formed under Iranian pressure in order to reunite the Shiite house after its failure to agree on a figure that takes into account the demands of the demonstrators and the religious authority.

The Seven Committee was composed - according to the sources - from: Ahmad al-Fatlawi for the stream of wisdom, in the name of al-Awadi for the victory coalition, Haider al-Fawadi for the Ata bloc, and Abd al-Hussein al-Musawi for al-Fadila, while Nabil al-Tarfi came from the Alliance of Saireon, Adnan Fayhan from the Alliance of Fateh, and Hassan al-Sunaid from State of Law Coalition.

Three scenarios
The deputy of the Shiite forces Nada Shaker confirmed that the committee's consultations reached 14 names to run for prime minister, and after the intensification of the talks, it was reduced to four names to present one of them to the President of the Republic after agreeing to it within the Shiite house.

Informed sources indicate that three scenarios came out of the recommendations of the Seven Committee, including: the survival of Adel Abdul Mahdi in office until early elections, and the second is the nomination of former Prime Minister Nuri al-Maliki to the post, while the third scenario includes the selection of a personality that receives the approval of the Kurds and Sunnis.

Representative Nada denied the first and second scenarios, and stressed that the Abdul Mahdi government lost its "legitimacy" after killing hundreds of demonstrators in recent months, attributing the reason to the failures that his government witnessed in security, breach of sovereignty, economic collapse, widespread corruption and the sale of positions, and this prompted the protesters to protest since the beginning Last October.

For its part, Sunni forces have called for the necessity of changing the existing system of government and bringing in a new personality for the prime minister, according to the representative of the Sunni forces, Muhammad al-Abd Rabu, explaining that one of the priorities of the Sunnis to negotiate with the Shiite forces on forming a government is to change the formation of Abdul-Mahdi, because it failed to manage the state and conduct repairs.

And Abd al-Rabu assured Al-Jazeera Net that introducing a new personality to form a government is the best option, as it is in line with the demands of the demonstrators. He suggested that the Shiite forces could not choose a "non-dialectical" figure, as required by the demonstrators and the religious authority, as well as the Sunni and Kurdish parties.

In turn, political analyst Ghiath Sourji believes that the Shiite forces will try to win the Sunni and Kurdish parties in various ways to pass their candidate to form a government to open a new page with the demonstrators, explaining to Al-Jazeera Net that "the failure of the second candidate after Allawi in forming the government will put the Shiite forces in a dilemma and this is not a consequence of its consequences." .

The demands of the Kurds
In return, the name of the candidate to form the government is not as important as implementing the constitutional obligations related to the annual budget and financial dues for the Kurds.

The Kurdish parties support any political party or program presented by the Shiite parties, provided that they believe in achieving the demands of the Kurds and the federal system within the Iraqi state, according to the coordinator of the Kurdish Movement for Information Change, Dalir Abdel-Khaleq.

Abdel-Khalek stressed to Al-Jazeera Net that "not to entrap the region's dues in political conflicts, in addition to preventing foreign interference, fighting corruption and restoring trust between citizens and the federal government, is our basic condition for negotiating with the Shiite blocs about forming the next government.

Abdel-Khaleq believes that saving Iraq from the current situation and achieving the demands of the demonstrators needs a person who deals in accordance with the constitution with the region and all Iraqi parties and components.

He pointed to the need for the candidate for prime minister within the transitional period to prepare for fair and transparent elections, so that the people elect their candidates with absolute freedom and faith.

Betting on Time The
activist in the Iraqi demonstrations sees Star Mohsen that the authority in Iraq is betting on time to disperse the gatherings of demonstrators and circumvent their demands in tortuous ways.

Mohsen confirmed to Al-Jazeera Net that "the demonstrations were not Shiite against a Shiite authority as much as they are against corruption as a whole, whether it is at the top of the mountain or at the farthest point in the square."

Mohsen expected the inability of the round table in Baghdad to come out to meet the aspirations of the demonstrators and the formation of a transparent government, adding that everything that is happening at the moment to form the government is not different from the scenarios after 2003.

He pointed to the inability of the Shiite parties to come up with a personality with the required specifications, most notably independence and a move away from quotas.

According to the Iraqi constitution, if the political forces fail to agree on a candidate to form the government before the 15th of this month, the President of the Republic will replace the Prime Minister for a period of 15 days, which can be extended for a period of one month. During this period, a person should be chosen and a government formed.

Al Jazeera

link

[DinarThug]

LINK

"Corona" climbs in dollars against the basket of foreign currencies

 

 

13th March, 2020

The dollar rose, today, Friday, as investors scrambled for the world's most liquid currencies, in light of the growing panic over the Corona virus, while the euro suffered losses after the European Central Bank's reluctance to cut interest rates, which caused disappointment. And the dollar stuck to its gains against most currencies, after swapping transactions revealed that investors are facing a shortage in the dollar, with stock markets falling due to concerns about the global growth impact of the influenza-like virus.

On Thursday, the European Central Bank revealed a stimulus package that would involve providing loans to banks with low interest rates at -0.75% and an increase in bond purchases. The Federal Reserve moved to provide short-term liquidity of $ 1.5 trillion and non-deadlines for the Treasury instruments it buys, but the money markets show that investors expect the US central bank to go further in order to restore the confidence of financial markets. The euro recorded trading at $1.1202, after a drop of 0.72%, on Thursday, after the European Central Bank's decision. For the week, the single currency is down 0.7%. Against the pound sterling, the dollar rose slightly to 1.2541 dollars in Asia, following its largest one-day gain against the British currency since July 2016.

The US currency rose 3.8% against sterling, since the beginning of this week, which is its best performance since October October 2016. The dollar held steady against its gains against the Swiss franc, to trade at 0.9435, and headed towards a weekly gain of 0.7%. The authorities are rushing to impose a travel ban and provide additional financial liquidity and apply monetary easing measures, while the rapid spread of Corona virus around the world has hindered the growth of the global economy. The dollar increased 0.88% to 105.58 yen today, and is heading towards progress by 0.2% per week. The Canadian dollar increased slightly to 1.3894 dollars against its American counterpart, slightly higher than the lowest level in four years. The Australian and New Zealand dollars rose more than half a percent against the US currency in Asian trading. And the two currencies fell, on Thursday, with the reluctance of investors to the high-risk assets associated with global commodity trade.

[DinarThug]

A budget weighed by Abdul-Mahdi, with half a million employees .. Oil threatens the salaries and the China agreement

 03/13/2020 20:18  

 

Zia Walid

A writer from Iraq

 

The Iraqi economy is more dependent on the oil resource (Facebook)

Not only did it threaten human life in the world, but the new Corona virus threatens the livelihood of citizens in many parts of the world, due to preventive measures that require preventing gatherings, stopping flights and closing crowded places, but the most frightening economic news is oil. Corona shares with The "price and production" war between OPEC and Russia has caused the oil market to drop to levels not seen for a while.
 

The Iraqi economy depends more on the oil resource, and the salaries of employees and many economic sectors depend on the price of a barrel of oil
Decline in oil demand was accompanied by "rejection" Rossi asked OPEC cut its oil output to halt the deterioration of prices, and led the lack of agreement between the organization and the Russians to the deterioration of the oil market and reach the price of Brent crude $ 35, while carrying US President Donald Trump difference between Saudi Arabia and Russia on the price and size of the pump Oil is responsible for this decline, along with what he calls "fake news."

Budget and salaries

In Iraq, the country's economy depends more on the oil resource in its budget, and the salaries of employees and many economic sectors depend on the price of a barrel of oil on the global market.

Immediately after the spread of news of low oil prices, talk prevailed about the possibility of the Iraqi government’s inability to pay the salaries of employees in the state’s departments, as a member of the Parliamentary Finance Committee Adnan Al-Zarfi said in a televised statement, followed by “Ultra Iraq” that “the budget deficit in 2020 amounted to 56 trillion due to increased spending The government, "noting that" the government will not be able to pay the salaries of employees in the event of oil prices dropping to $ 31, "while economist Safwan Qusai indicated that" the entire global economy is threatened, and the unapproved 2020 budget needs the price of a barrel of oil to be $ 42 " .

In the context, the economist Salam Semsem considered that Iraq is "on the verge of an economic catastrophe whose extent is known only to God." Appreciated.

In response to these reports, the Parliamentary Finance Committee said in a statement that "the news circulated regarding the reduction of the salaries of employees and retirees is unfounded", stressing that "there is no intention of the House of Representatives or the government to go into this issue as it is an acquired right," but Zarfi, who is a member of The committee stresses that the cut in the salaries of employees is a "collectible achievement" if oil prices drop.

For his part, the decision of the Parliamentary Finance Committee Ahmed Al-Saffar clarified on March 11 that Iraq can "continue to pay salaries for this year," noting that "an impact on the investment budget occurs in the event of a drop in oil prices below thirty dollars per barrel."

With the rise of the oil problem and its relationship to the salaries of employees, there was talk of mistakes made by the government of the resigned Adel Abdul Mahdi in employing hundreds of thousands

While Saffar believes that the salary reduction is not about legislative power, but "is a return to the government , a caretaker does not have the power to reduce or increase salaries," says financial adviser to the prime minister the appearance of Mohammed Saleh said that " the government believes that state employees and the salaries of retired social lines and care The red cannot be compromised. ”However, Saleh affirms in another statement that“ the drop in oil prices to less than $ 30 for a short period of time means dealing with a major financial-economic shock. ”

Hiring the heaviest budget

With the rise of the oil problem and its relationship to the salaries of employees, a conversation has emerged about the mistakes committed by the government of resigned Adel Abdel Mahdi in employing hundreds of thousands during the past year of his rule, especially after the outbreak of the October uprising in late 2019, and the former Minister of Transport, Amer Abdel Jabbar, describes the recent appointments issued by the President The ministers said that they "killed the state", speaking in a television statement about "the presence of 270 employees in a 200-square-meter circle", while Finance Committee member Adnan Al-Zrafi, Abdul Jabbar Al-Rai, shared that the government "overburdened the budget with appointments to calm protesters", revealing a minister The current electricity is Louay Al-Khatib Ba Yin "85,000 employees," describing the move as "laughing at people."

In the context of this , the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed additions obtained for the public job by the government of Abdul Mahdi, "estimated at half a million new employees", noting that "this number is an addition to the salary clause in the operating budget, which ranges from 11 to 13 Trillion dinars. "

Agreement problem and proposed solutions

The oil crisis is not limited to the employees ' salaries and the economic situation generally accepted in the country, but on the China - Iraq agreement signed about five months ago, which requires , according to specialists that Iraq is China 's 100 delivers a thousand barrels of oil per day can be increased compared to that China companies are building Projects in Iraq, such as factories, factories, housing, hospitals, schools, and airports.

Earlier, the Chinese ambassador to Baghdad said that his country was economically affected by the Corona virus, but the China-Iraq cooperation was not affected.

But the continued decline in oil prices will have a significant impact on the agreement signed between Iraq and China, according to oil expert Hamza Al-Jawahiri, who calls for not forgetting "the presence of thieves want their shares, and they are stronger than the state."

Al-Jawahiri does not see "increasing oil production towards China" as a solution, because of the imbalance of prices, and cites an example of a statement by the Saudi minister about raising oil production to 4 million that led to a price drop of about $ 15, considering Iraq’s step to increase production unilaterally as "fighting itself ".

Al-Jawahiri proposes in an interview with "Ultra Iraq" to address "a set of laws that have imposed significant financial burdens on the state, including Rafha, the prisoners, and those separated from the former armed forces." He also proposes "withholding tax from imported goods in advance, as this will bring the state to about twenty billion countries at least Estimate, instead of waiting for deduction, until the goods arrive, for the sake of bribery, "he added.

Al-Jawahiri also proposes "investing, selling, or postponing large real estate owned by the state that can equal two or three budgets for the state," but he believes that "the parties take possession of that real estate or land, and it is stronger than the state, so no one can manipulate it." 

From Al-Jawahiri’s point of view, “There is absolutely no crisis in Iraq even if the barrel reaches ten dollars,” indicating that it will be “normal” provided that we prevent corruption, improve the disposal of funds, implement the laws correctly and apply them above all considerations, protect the consumer, and control the borders. ”

The oil expert Hamza Al-Jawahiri believes that there is absolutely no crisis in Iraq even if the barrel reaches ten dollars, provided that we prevent corruption and improve the disposal of funds.

Al-Jawahiri concludes his speech by saying, "Iraq possesses financial experts or what is called financial management, and they know where it (money) comes, but they face the corrupt who do not place the interest of Iraq above all considerations," adding: "If it was up to me, I would have executed them all."

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[Gunnytex]

Dinar.    Wont move 1 inch ....Nada. 

Without US direction.....

Blah Blah Blah.   Kaperony Baloney 

[TexasMike1958]

23 hours ago, DinarThug said:

Sources: The President of the Republic sets a "final" deadline for submitting a candidate for prime minister

 

Policy  ,   03/12/2020 17:22   

 

 

 

Baghdad - Iraq today:

 

Well-informed Iraqi political sources said on Thursday that President Barham Salih had given the Shiite blocs until next Monday to agree on a new candidate for prime minister.

And quoted an "informed" political source that "Iraqi President Barham Saleh gave the Shiite political blocs until next Monday, to agree on the nomination of a new prime minister for Iraq so that he could assign him."

He added that, "Saleh sent during the past two days to the Shiite leaders concerned with the nomination of a new prime minister, a message urging them the importance of reaching a candidate no later than next Monday, which is the end of the constitutional deadline of two weeks to assign a new candidate."

The source quoted Saleh as affirming his "clear" assertion in his letter that "the end of the constitutional deadline means a constitutional violation that cannot be justified under any pretext, in addition to that article 76 of the constitution gives the president of the republic the nomination of whom he deems appropriate, regardless of the largest number of parliamentary bloc."

The source pointed out that “the president of the republic, to whom the constitution offers this option, may resort to it because he takes into account two basic issues. The first is that the position is from the share of the Shiite component, and therefore he does not want to be in any way a party to this conflict, and the second is that he takes into account the situation The complex composition of the Iraqi parliament that represents the different Iraqi ethnic, religious and sectarian components.

He continued, saying, "Therefore, any candidate cannot gain confidence from within Parliament unless it is agreed upon within the Parliament itself, at a time when these blocs are witnessing a sharp division due to the repercussions of the political situation."

He pointed out that “in light of the failure of the Shiite leaders and leaders to resolve its final position on this issue,” among the options presented in the event that the nomination of a new personality for the post was not reached, after the apology of the former commissioner, Muhammad Tawfiq Allawi, to reassign the resigned Prime Minister, Adel Abdul-Mahdi, In light of the semi-American-Iranian consensus. ”

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It WAS supposed to be YESTERDAY