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Financial Advisor: Iraq Is Committed To Fulfilling Its Financial Obligations And Obtaining Creditworthiness !


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14 hours ago, 3n1 said:

 

yes idk , the ones doing well in iraq are working for the goi , like in most countries poverty abounds iraq has been ravaged by corruption , war , terrorism etc. imo , but the small stimulus amount of 30,000 per individual seems out of proportion like why even do a 25 dollar payment but i do live in america though  .. cheers be well dv'ers


although, if they rv first, (anywhere from .10¢ - $1.00), then it seems reasonable. I did the math, and for 30,000 dinars to equal what the average Iraqi needs to live per month ($800), it comes out to .37¢ rv ...

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12 minutes ago, Half Crazy Runner said:


although, if they rv first, (anywhere from .10¢ - $1.00), then it seems reasonable. I did the math, and for 30,000 dinars to equal what the average Iraqi needs to live per month ($800), it comes out to .37¢ rv ...

 

That actually might happen.  At first I thought that was way too low but these morons are capable of extreme stupidity by screwing themselves time after time just so we don't profit.  Plus, look at the world news, Saleh just appointed a new PM today!!

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39 minutes ago, jcav said:

Saleh just appointed a new PM today!!

 

correct jvac , and he'll have 30 days to get a cabinet together to submit to parliament of course then ramadan starts April 23 thru May 23 this year  some claim they work thru it but thats when they have a PM , who knows , really thought that Al-Zari cat was gonna be a fairly balanced PM but the Shiites thought they couldn't manipulate him enough for Iran's approval O'well another typical day in the land of the sand ... cheers

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47 minutes ago, chris2028 said:

I am actually glad to see it say $30,000 IQD for each citizen instead of it saying $350,000 iqd or some high figure like that as it normally would say. Points to some sort of change possibly on the horizon IMO.

 

exactly , i follow that thought but the article also stated 300,000 iqd per family which is a pretty high number in itself if a change is on the horizon , but inside iraq 1 dinar will always just be 1 dinar if its worth 2 tenths of a penny of 1 buck it will just purchase more

 or have more ( purchasing power) outside the borders is where a currency shows its strength or weakness i know u knew all this chris some may not im not being negative at all and hoping for anything positive for sure ....

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The Finance Committee confirms securing the salaries of employees and retirees for the current year


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9th April, 2020

 

The Finance Committee of the House of Representatives confirmed the insurance of the salaries of employees and retirees during the current year, at a time when the government is moving towards recycling all possible financial flows to reassure the life of the segment receiving government income with two oil prices in the budget

"The salaries of employees and retirees for the year 2020 are fully insured," member of the committee Jamal Kujer said in an interview with "Al-Sabah" and viewed by "Al-Iqtisad News," noting that "the government needs, within the limits of 48 trillion dinars, to secure its operating expenses, including There is a slight deficit that will secure from taxes and collection.  He added that "the OPEC meeting to be held today will contribute to raising prices," noting that "the decline in oil prices is temporary
 
For his part, the appearance of Mohammed Saleh, the financial advisor to the Prime Minister, said that “the public financial duties, in managing this suffocating crisis and its challenges, will be directed towards cycling all possible financial flows to reassure the life of the government-receiving income from the lucrative income in the country.” Retirees and recipients of social welfare, as well as the social segment of low-income families Al-Qusayrah has been subject to health bans in the country during the past weeks
 
He explained that “the national economy will necessitate reassuring living for all, provided that there is a transparent financial ruler indicating high discipline in expenditures and enjoying government cash income fairly, without escaping, with the necessity to follow real financial governance that is shared with resources that are mutually exclusive and participatory. very high government in order to keep him live for all categories touches all segments
 
In turn, the head of the adviser The ministers of Abdel-Hussein Al-Hanin said that "the government will deal seriously with the decline in oil prices and there is a tendency to make the budget at two prices for oil, the first is fixed and may not exceed $ 30 per barrel, and in this part of the budget will be met the basic requirements that are not met
 
He continued, "As for the moving price, each amount of the barrel will be more than $ 30 in any period of the fiscal year, in which a proportion of other requirements are dealt with depending on the change in oil prices." Great corruption

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Governmental and parliamentary assurances of securing
salaries during 2020



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9th April, 2020


The Finance Committee of the Council of Representatives confirmed the salaries of employees and retirees during the current year, at a time when the government is moving towards rounding all possible financial flows to reassure the life of the recipient of government income

In full, "indicating that" the government needs, within the limit of 48 trillion dinars, to secure operating expenses, including salaries, and in the event of a slight deficit, it will secure Taxes and collection.    He added that "the OPEC meeting to be held today will contribute to raising prices," noting that "the decline in oil prices is temporary

For his part, the appearance of Mohammed Saleh, the financial advisor to the Prime Minister, said that “the public financial duties, in managing this suffocating crisis and its challenges, will be directed towards recycling all possible financial flows to reassure the life of the government-receiving income from the lending in the country.” Retirees and recipients of social welfare, as well as the social bracket of low-income people, from the income of the private sector, whose income has been Air Alksraَّh under the health ban procedures in the country over the past weeks

He explained that “the national economy will necessitate reassuring living for all, provided that a transparent financial ruler provides indicative high discipline in spending and enjoying government cash income fairly, without escaping, with the necessity to follow real financial governance that is shared with resources that are mutually dependent and resilient. Government is very high in order to maintain the peace of life for all, touching all groups and slides

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Oil prices rise thanks to optimism about the outcome of OPEC + meeting to reduce supplies


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9th April, 2020

 

Oil prices rose on Thursday, thanks to expectations that the world's major oil producers will agree to cut production at a meeting later in the day as the sector suffers a collapse in global demand caused by the Corona virus

Brent crude futures rose 1.2 percent, or 41 cents, to $ 33.25 a barrel by 0529 GMT. The contract rose to the highest level during the session at 33.90 dollars, to record an increase for the second day

US West Texas Intermediate crude futures rose 3.3 percent, or 82 cents, to $ 25.91 a barrel, after earlier rising as much as 6.1 percent

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, in what is known as the OPEC + group, will hold a videoconference on Thursday

The meeting is expected to be more successful than a meeting in March, when they failed to agree to an extension of supply cuts, sparking a price war between Saudi Arabia and Russia

Hopes grew with an agreement to cut between ten million and 15 million barrels per day after media reports indicated that Russia was ready to cut production by 1.6 million barrels per day and the Algerian Energy Minister said he expected a "fruitful" meeting

And a reduction of that size would be much greater than any reduction agreed upon for OPEC production before

After the OPEC + meeting, energy ministers from the Group of 20 leading economies are scheduled to meet to find ways to help mitigate the effects of the Covid-19 pandemic on global energy markets

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Russian Energy: We are ready to reduce production by 1.6 million barrels per day


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9th April, 2020


A representative of the Russian Energy Ministry revealed Russia's readiness to cut its oil production by 14% from the level of production in the first quarter of 2020, and this comes before a planned meeting of the OPEC + countries to discuss the oil market.

A spokesman for the ministry told the Russian "TASS", that Russia is ready to reduce production by 1.6 million barrels per day from the level of production in the first quarter of last year. The spokesman stressed that Moscow would agree to this reduction in the event that other countries reduce their production proportionately. OPEC + and other producers today, at 02:00 GMT, will hold an emergency meeting via a television bridge, to discuss the conclusion of a new agreement to cut production aimed at supporting the faltering oil markets.

According to Moscow, talk is underway about implementing a total reduction of 10 million barrels per day, in light of the decline in global demand for crude due to the Corona pandemic. Russia and Saudi Arabia are demanding that the United States, which has recently become the world's largest oil producer, join the agreement.  On the trading front, Brent futures contracts were traded today at $ 33.45 a barrel, an increase of 1.86% over the settlement price of the previous session, while US crude contracts rose 3.31% to $ 25.92 a barrel.

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Source: Saudi Arabia is ready to reduce its oil production by up to 4 million barrels per day

 

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9th April, 2020


A source familiar with Saudi politics revealed that the kingdom is ready to reduce its oil production by up to 4 million barrels per day from the level of production in April, according to Reuters news agency.

This comes shortly before an emergency meeting of the "OPEC +" coalition, led by Russia and Saudi Arabia today, to discuss how to bring stability to the faltering oil markets. On the other hand, Algerian Energy Minister Mohamed Arqab said that the aim of the meeting is to "reach an agreement on a significant reduction in oil production." He added that such a reduction would be to "restore the balance to the market for the benefit of producers and consumers."

Oil prices rose today, driven by hopes of producers agreeing to cut production to support markets, in light of the decline in demand for crude due to the spread of the Corona virus. The "Brent" mix increased by 1.2% to 33.25 dollars a barrel, thus recording a rise for the second day in a row.

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US Secretary of Energy: OPEC + countries can easily
reduce 10 million b / d


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9th April, 2020

 

US Energy Secretary Dan Browell said on Thursday that he saw OPEC + countries could easily cut oil production by ten million barrels per day and he was optimistic that Russia and Saudi Arabia would iron out their differences

"I think they can easily reach ten million, perhaps more, and undoubtedly more if other oil producing countries include countries like Canada, Brazil and others. This is easily possible," Bruelet said in an interview with CNBC

"We are optimistic that they will reach an agreement between the Saudis and the Russians to stabilize the markets," he added

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Saudi Arabia and Russia agree to reduce oil production

 

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9th April, 2020


The Kingdom of Saudi Arabia and Russia on Thursday reached an agreement leading to a significant reduction in oil production. According to Reuters.

A senior Russian source said that Russia and Saudi Arabia have removed the main obstacles to agreeing new cuts to oil production. Reuters indicated that Brent oil prices rose by $ 3 a barrel after the start of the OPEC conference and other oil exporters.

It is noteworthy that last March 5, the OPEC Plus coalition, which includes OPEC members and independent producers led by Russia - disintegrated after differences between Riyadh and Moscow over deepening production cuts - until the end of
2020.


Since that date, Saudi Arabia and Russia have been waging a war on oil prices, followed by Riyadh's announcement to increase production pumping. On average, 13 million barrels per day by next May, compared to 9.8 million barrels per day last February. 

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Iraq welcomes the Saudi-Russian agreement and considers it a victory for OPEC

 

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9th April, 2020


The Iraqi government welcomed, today, Thursday, the agreement reached by Saudi Arabia and Russia to reduce crude oil production, usually a "victory" for OPEC.

The advisor to the Prime Minister, Mazhar Muhammad Salih, said in a statement seen by Mawazine News that "the oil agreement between Saudi Arabia and Russia, which included reducing production to ten million barrels per day within the APOC organization, is considered a victory for the organization after the recent crisis and the drop in oil prices to the lowest level."

Saleh added that "this agreement will revive the global market, as it is more deliberate on oil," expecting that the price of a barrel of oil within Brent crude will reach 45 - 50 dollars during the coming days. He continued, "Iraq supports and supports this agreement and asks OPEC members to maintain the level of production and export of crude oil to avoid any further crisis in the future."

Saudi Arabia and Russia reached an agreement earlier in the day that would lead to a significant reduction in oil production. According to Reuters. 

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The Oil Minister stresses the necessity of setting a ceiling for the amount of production cuts and the time period


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9th April, 2020

 

On Thursday, Oil Minister Thamer Al-Ghadban stressed the need to determine the ceiling for the amount of production cuts and the time period, expressing his support for the agreement that restores stability and balance to the oil market

A statement by the Oil Minister, "Economy News" received a copy of it, that "Iraq supports the agreement that restores stability and balance to the oil market," adding that "all producers must realize the size of their responsibilities towards their people and the international community and work to stabilize the oil market

Al-Ghadban stressed that "today we are in dire need of ever to reach a fair agreement that takes into account the interests of producers and achieves the required balance, and there are positive indications for reaching an acceptable agreement

"We aim to bring the views of the members closer, to accelerate the achievement of an acceptable agreement, and we play a positive role in this framework," the minister explained

He pointed out that "it is necessary to determine the ceiling of the amount of production cuts and determine the time and date of the start of commitment in accordance with the agreement and the division of shares in an acceptable and fair manner

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$500m support to be Available via Iraq Phone App

 

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9th April, 2020


Iraq's Higher Committee for Health and National Safety met in Baghdad on Tuesday under the chairmanship of Prime Minister Adil Abd Al-Mahdi. The meeting was conducted via video conferencing.

The Committee discussed a number of policy options to support Iraqi nationals abroad who wish to return home, and how to address the logistical and health challenges involved.  It is expected that the Committee will make an announcement on this issue shortly.

Following discussions on COVID-19/coronavirus, the Committee decided to:

Extend the curfew throughout Iraq until Saturday 18/04/2020; Allocate 600 billion dinars [$504 million] over the next two months to support nearly ten million citizens. Applying and accessing this support will be via a phone app. Further details will be announced later.
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3 hours ago, DinarThug said:

The Finance Committee of the House of Representatives confirmed the insurance of the salaries of employees and retirees during the current year, at a time when the government is moving towards recycling all possible financial flows to reassure the life of the segment receiving government income with two oil prices in the budget


 

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Abdul Mahdi's advisor: The government is moving to place two oil prices in the budget

 

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9th April, 2020   
 


The Iraqi government is moving to place two oil prices in the new budget in the context of dealing with the decline in oil prices.

"The government will deal seriously with the decline in oil prices and there is a tendency to make the budget at two prices for oil, the first is fixed and may not exceed $ 30 per barrel, and in this part of the budget that will not be met," said advisor to the Prime Minister Abdel-Hussein Al-Hanin. 

He continued, "As for the moving price, each amount of the barrel will be more than $ 30 in any period of the fiscal year, in which a proportion of other requirements are dealt with depending on the change in oil prices,"explaining that "this method depends on programs and projects and represents an advanced state to prevent Great corruption.”

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Disclosure of a government trend to adopt a budget with two oil prices

 

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09:48 - 09/04/2020
 

Advisor to the Prime Minister Abdel-Hussein Al-Hanin revealed, on Thursday, a government move to make the budget at two oil prices to meet the drop in oil prices.

Al-Hunayn said in a statement reported by the official newspaper Al-Sabah, which was read to him / the information: “The government will deal seriously with the decline in oil prices and there is a tendency to make the budget at two prices for oil, the first is fixed and may not exceed 30 dollars per barrel, and in this part of the budget will be done Meet the essential requirements that are indispensable.”

He added: "As for the moving price, each amount of a barrel will be more than 30 dollars in any period of the fiscal year in which it will deal relatively with other requirements depending on the change in oil prices." Al-Hanin pointed out that "this method depends on programs and projects and represents an advanced case to prevent waste and a large part of corruption."
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Iraq maintains its global ranking in terms of gold reserves

 

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9th April, 2020


The World Gold Council affirmed on Thursday that five Arab countries, including Iraq, have maintained their global ranking in terms of having the largest gold reserves.

The council said in a statistic during the month of April that "Saudi Arabia, Lebanon, Algeria, Libya and Iraq maintained their global ranking with the world's largest gold reserves and reserves of 996.4 tons."

The council added, "Iraq still maintains its fifth Arab position, after which it came after Saudi Arabia, Lebanon, Algeria and Libya, as well as maintained 38th place globally out of 100 countries included in the international financial statistics for global gold reserves," noting that "Iraq reserves It amounted to 96.3 tons of gold."

The Council pointed out that "the United States of America is still in the first place with the largest reserves of gold in the world, as these reserves reached 8.133.5 tons, followed by Germany with 3.366 tons, while Haiti topped the ranking table with only 1.8 tons."

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Iraq maintains its global ranking in terms of gold reserves

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The Central Bank announces the continuation of its activities and banks according to the exception issued by the competent authorities

 

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21:13 - 09/04/2020
 

The Central Bank of Iraq confirmed, on Thursday, that its business and banks will continue according to the exception issued by the competent authorities, pointing to the resumption of meeting foreign transfer requests.

The Central Bank media stated in a statement received / information / that “the central bank decided in the meeting of the Board of Directors’s general affairs to continue the work of the central bank and banks according to the exception issued by the competent authorities, in addition to resuming the fulfillment of external transfer requests through the window to meet the requests that citizens and the government need in a way Regular during the ban.

He added, "The bank decided to postpone the implementation of the penalties and fines incurred by the banks, for a period of three months, starting from 1/4 to 6/30/2020, and it was decided to support the banks' liquidity by reducing the legal reserve ratio to them by 13% and for a period of six months for the purpose of supporting The process of postponing the payment of installments for all citizens' loans (for a period of three months).

He explained that "banks, in the event of a curfew, continue to re-practice their activities in full, taking into account reducing the number of employees working in them and adopting health safety measures in order to ensure the implementation and fulfillment of the necessary actions for citizens and state institutions, and decided to continue to operate all activities of the payment system on a daily basis."

And he explained that "the commission incurred by merchants, when using electronic payment tools, was postponed for a period of six months, in addition to resuming the investment window for the open banks in the central bank." 

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