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Iraq Is Looking With The {IMF} To Stop Paying Its Debts !


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2 hours ago, DinarThug said:

Parliamentary Finance: The 2020 budget will be approved for five months

Thursday 16 April 2020 - 22:15

 

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Baghdad - conscious - Muhammad Talibi

Member of the Finance Committee, MP Mohammed Sahib Al Daraji, confirmed today, Thursday, that the federal budget for 2020 will be approved for only five months.

Al-Daraji said in a statement to the Iraqi News Agency (INA), "The options currently in place under the caretaker government are the payment of salaries and operational matters according to the 1/12 mechanism," noting that "the 2020 budget will be sent to the parliament after the formation of the new government and will be approved for five months ".

He added that "the new government will review the budget before sending it to parliament," noting that "the approval of the budget will need more than a month in Parliament."

And on the government of the Prime Minister-designate Mustafa al-Kazemi, MP Muhammad Sahib al-Darraji commented, “The success of the al-Kazemi government depends on the latter's departure from the interference of political blocs by imposing the names of the ministerial cabinet,” noting that “Al-Kazemi is passed in Parliament if he provides a ministerial cabinet that is free from the interference of political blocs.”

The financial advisor to the Prime Minister, Mazhar Mohamed Saleh, had previously stressed the need to go in the short term to legislate an emergency budget, which provides financial sustainability at this stage and meets the necessary needs.

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Them fools are going to be still talking about passing the 2020 budget when January 2021 rolls around.

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"the Central Bank of Iraq has proven its sobriety in the face of major challenges in recent years, qualifying it to be in the most important sites of the Arab financial sector."
 


Go CBI 

Go Strong 

 

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" Iraq is looking with the {IMF} to stop paying its debts "    

How about - - -  NO ! ! ! 

These guys must sport wheel barrows to truck around the size of " Tackle " they have have swinging between their legs to think they can convince the IMF Iraq should " stop paying it's debts." :tiphat:

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Simple solution 

Rv currency 

payback debt with dinar that has 1000 x worth tHan when they borrowed the money

buy Us treasuries at bargain prices

stock up on precious metals 

wait for real estate market to tank and cash in

WHERE AM I WRONG HERE!

 

 

 

 

 

 

 

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9 minutes ago, Calijim said:

Simple solution 

Rv currency 

payback debt with dinar that has 1000 x worth tHan when they borrowed the money

buy Us treasuries at bargain prices

stock up on precious metals 

wait for real estate market to tank and cash in

WHERE AM I WRONG HERE!

 

 

 

 

 

 

 

 

Youre not wrong: they could do it - they’d just rather steal. 

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On 4/16/2020 at 1:41 AM, Mary B said:

He added, "Iraq, due to the Coruna virus and the drop in oil prices, entered into what is called forced majneure, something that afflicted all countries of the world. Therefore, Iraq seeks to stop the payment of its debts."

 

:lmao:   :lmao:   :lmao:

 

YEP!!!

 

THEE Bicraqi Iraqi HAVE ONE HUGE ULTRA WHIRLED CLASS WHIRLED WIDE "forced" "maneure" "spreader"!!!

 

 :o      :o      :o

 

:eat:   :eat:   :eat:

 

LET'S EAT!!!

 

NOT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Go Moola Nova (er, WITHOUT THEE Bicraqi Iraqi "forced" "maneure" OF COURSE)!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

:pirateship:

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A Summary Of Headlines From The Last 24 Hours ...

 

:D  :D  :D 

 

 

 

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The most important events you want to know today, Thursday

 

The most important events you want to know today, Thursday
 
 

4/16/2016 23:24:07
 
 
Political consultations are still ongoing in order to complete the government of designate Mustafa Al-Kazemi in light of political optimism about passing it inside the parliament dome due to the compatibility of the blocks in principle, at a time when the World Health Organization demanded not to rush the decision to lift the ban or reduce its procedures. in Baghdad.

Below we review the most important news today, Thursday:

Representative of the Patriotic Union of Kurdistan, Hassan Ali, announces the demands of the Kurds to the government of designate Mustafa Al-Kazemi.

Automated: The demands of the Kurds are to guarantee the rights of the Kurds in the budget, salaries, peshmerga, and Article 140 of the constitution.

The Parliamentary Women's Committee calls for Al-Kazemi to restore the Ministry of Women and include women in 3 ministries.

The National Coalition confirms that Al-Kazemi is a crisis option and the partners must support him strongly.

The Turkmen Front supports Al-Kazemi's mandate to form the next government.

The Ministry of Health records 19 new cases of corona throughout the country.

Health Minister Jaafar Allawi: The curfew will be lifted in the month of Ramadan from 6 am to 6 pm.

Minister of Health: At the end of May or early June, we will announce that Iraq is free of Corona.

World Health Representative in Iraq, Adham Ismail, warns: Do not rush to lift the ban and you and ease the procedures.

Al-Karkh Health Authority announces the registration of 29 cases of corona at Baghdad Airport.

Kurdistan region extends the curfew until April 23.

Baghdad sends 3.5 billion dinars to the province to counter Corona.

The director of the neurological hospital, Walid Khaled Al-Hayali: The next 10 days are the focus of the end of the battle with Corona

Baghdad Operations announces the arrest of more than 25,000 violators of the curfew.

Rafidain Bank begins distributing the salaries of state employees for the month of April electronically.

The Ministry of Health released the central appointment form for graduates last year.

Joint operations confirm that the penetration of Turkish aircraft is a flagrant violation of Iraqi sovereignty

Foreign Ministry summons the Turkish ambassador and receives a note protesting the bombing. 

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Analyst on austerity fears: Iraq needs economic, not financial, solutions

 

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16th April, 2020
 
 
The analyst and political expert, Saif Al-Hiti, believes that Iraq has become in need of economic, not financial, solutions to get out of the crisis it is going through.


Al-Haiti said in a tweet on "Twitter", "It seems that the Iraqi government is on the verge of forced austerity, and this is very difficult and will blow the street again with chaos and massive protests."

He added, "Focusing solutions on employee salaries cuts is one of the problems, not solutions. We need economic, not financial, solutions, and getting out of the rentier rent economy needs realistic, scheduled plans, and statesmen."

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21 hours ago, DinarThug said:

We will convince Washington to extend Iraq’s exception to preventing Iranian energy imports

 

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Economy 04/15 2020 13:13 441 Editor: am

 

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America proposes to Iraq three countries to import gas instead of Iran

 

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16th April, 2020


Oil expert Fadel Al-Dabbas revealed, Thursday, the proposal of the United States of America to remove Iraq from the energy crisis and import gas from some countries instead of Iran.

Al-Dabbas told Shafak News that "the period of Iraq’s exclusion from US sanctions on Iran and its permission to import Iranian energy and gas will end at the end of this month without finding alternatives to get out of the crisis." He added that "the American administration informed the Iraqi government earlier that it was necessary to find alternatives to import Iranian energy and gas and nominated several countries, most notably Egypt, Saudi Arabia and the UAE." And Al-Dabbas said, "Until the moment, we do not know what the Iraqi government decided and where it will go, especially as we are heading towards an electricity crisis in the coming summer."

The United States decided in February to allow Iraq to continue importing gas and electricity from Iran. But the period of exemption has shrunk from 90 and 120 days, to 45 days, and now to only 30 until the end of April, according to Iraqi officials. One of them, working for the President’s office, told France Press that this extension would be the “last” granted to Baghdad, which stands on the brink of an economic crisis with low oil prices, which could lead to the loss of 65 percent of its oil revenues, which constitute 90 percent of the state’s budget. The United States granted Iraq exceptions provided that Baghdad takes measures to reduce its dependence on Iran, by re-operating electricity supply systems or by finding other suppliers.

A senior Iraqi official told France Press that since November "Baghdad has not met any condition." As a result, he added, the exception should have been canceled, but the granting of an American deadline is due to "the current circumstances," meaning that Adnan al-Zarfi was tasked with forming a new government that Washington does not want to embarrass by not extending, especially in light of his lack of identification with the Shiite parties.  In the event that the exception is not extended, Iraq must stop importing gas and electricity from Tehran, or continue to deal with Tehran and face the possibility of US sanctions.

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3 major crises are chasing Iraq, most notably the specter of bankruptcy

- 9 Hours Ago
 
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The Italian Post newspaper said that Iraq faces the risks of the Corona virus in the midst of a critical situation the country is going through, as it suffers from a suffocating economic crisis and a state of political chaos, as well as paying the price of tensions between the United States and Iran.

The newspaper added in a report that Iraq recorded 1378 confirmed cases of Corona virus, according to the data of the World Health Organization. In contrast, the numbers are believed to be much higher, and it is worrying that hospitals in the country are unable to cope with a major health crisis, as well as many citizens do not respect the curfew imposed by the government.

The newspaper pointed out that the spread of the virus is adding to three major crises that the country is going through, the first of which is the economic crisis, as the country is on the verge of bankruptcy due to low oil prices. Secondly, its presence at the heart of the conflict between Iran and the United States. And third, the difficult challenges facing Prime Minister-designate Mustafa Al-Kazemi.

Economic problems
The newspaper pointed out that in recent months, the price of oil fell dramatically, first because of Saudi Arabia's increased production, and then because of lower demand as a result of travel restrictions imposed to contain the epidemic.

In general, this is considered a major problem for Iraq because more than 90% of the state’s financial resources depend on oil. In this situation, the state seems unable to pay the salaries of employees and pensions of retirees. The Ministry of Health was forced to request donations to finance the care of people infected with the Coronavirus.

The newspaper pointed out that matters became more complicated after the restrictions were imposed on movement due to the Corona virus and decreased, and thus the trade exchange. Worse yet, there is no government able to take swift action to revive the economy. The 2020 budget, which can only be approved by the presence of a new government, was drawn up when the price of oil was much higher.

Political crisis 
The current political crisis in Iraq began last fall, in conjunction with the outbreak of large and violent protests against the policies of Prime Minister Adel Abdul Mahdi, as well as the high rate of unemployment and corruption of the political class in the country. At the end of November, the protests led to the resignation of Abdel-Mahdi, but he remained in office to conduct business, while continuous efforts were made to form a new government that could organize early elections as demanded by protesters.

In early February, Prime Minister-designate Muhammad Tawfiq Allawi made the first attempt, but failed to obtain support from Shiite parties and related factions. After that, the other designated prime minister, Adnan al-Zarfi, who holds American citizenship and is highly esteemed by the United States, took over this mission in mid-March. However, his attempt was unsuccessful despite the support of some Shi'a political parties.

On April 9, President Barham Salih assigned intelligence chief Mustafa al-Kazemi to form the government. For him, the first challenge is to get support from Shi’ite parties close to Iran, and he will have thirty days to present his government to parliament and gain confidence.

Settlement of accounts 
The newspaper pointed to the exacerbation of the instability in Iraq after the country became the main arena for settling accounts between the United States and Iran, and tension has clearly increased since the United States killed the Iranian General Qassem Soleimani. In recent months, American forces in Iraq have been subjected to numerous missile attacks that the United States attributes to Iranian-backed factions.

The newspaper pointed out that the spread of Corona had military consequences, as European and Canadian soldiers present in Iraq within the international coalition to fight the Islamic State were forced to leave the country because of this. The US military has also suspended training for Iraqi forces to prevent the spread of the virus.

All of this could serve the interests of the Islamic State and urge the rest of its members to try to take advantage of the growing confusion in Iraq. According to the military expert at the Washington Institute for Near East Policy Michael Knights, ISIS is the armed force most prepared for such an epidemic because its personnel are "preparing for the end of the world."

The newspaper concluded that these problems could increase the fragmentation situation in Iraq, especially in the absence of a central force that can unite the country to face these challenges. On the contrary, there are several conflicting powers, where Kurds who have tried to secede in the past can return the ball if the government does not give them the promised funding. Sunni leaders may also consider creating their own entity. Moreover, protesters can return to the street strongly once the curfew imposed due to Corona is lifted.

Al Jazeera

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With its reserves declining, Iraq at the bottom of the list of "negative" countries in the credit ratings


2020-04-17
 
 
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Follow Iraq:

"Fitch" credit rating agency issued its periodic credit report to countries of the world, as it confirmed the credit rating of Iraq at "B-" with a modified outlook from stable to negative.

And, "Fitch" in her report, followed by "Iraq," that "political risks remain a major constraint on the classification of Iraq, along with the economic repercussions of the outbreak of the Corona virus."

And Iraq ranked 34th, the lowest among all the countries ranked by the agency, in the World Bank management index, which reflects the extent of corruption, government inefficiency and weak institutions, along with insecurity and political instability.

The agency expected that "the external finance of Iraq will deteriorate sharply, with the current account deficit falling to 16%, and 6% of GDP, in 2020 and 2021."

According to the report, the forecasts indicate "the decline in the country's international reserves (including gold) to 25 billion dollars by the end of 2021, which is a decrease of more than 40 billion dollars over two years," adding that "the classification of Iraq was affected by the risks associated with the continuing tensions between the states The United States and Iran, widespread protests, and greater fragmentation among political groups, as this undermined the government's effectiveness over the past year. ”

He pointed out that "confirmation of the classification is due to the current high level of international reserves for Iraq, and low debt service obligations and international financial support."

And the reserves of Iraq reached 66.7 billion dollars at the end of 2019 (8 months of current foreign payments), then it decreased to 62.9 billion dollars at the end of last February, with more severe declines expected from March onwards.

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Iraq .. Announcing the date for distributing the 30,000 dinars grant to those affected by the Corona pandemic

 

2020-04-17
 
 
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Yassin Iraq: Baghdad

 

Today, Friday, the Ministry of Labor and Social Affairs has set the date for the launch of the Corona Grant for eligible families.

"The emergency grant for families affected by the emerging Corona virus will be launched at the end of this month," Deputy Minister of Labor and Social Affairs Adel al-Rikabi said in a press statement.

He added that "there is a committee composed of the Ministries of Defense and Interior, the Financial Supervision Bureau, the Office of the Prime Minister and the Ministry of Labor and Social Affairs, which works to verify the names according to the data."

He pointed out that "every applicant, whether an individual or a family who receives a salary from social welfare, retirement or other state departments, will be excluded."

He pointed out that "next week will be dedicated to the audit and the next, the grant will be launched, which will be 30 thousand for each individual," noting that "the number will be credited to one family by five denominations only according to the amount allocated."

He continued, "The grant will be for only two months, as it is an emergency and non-continuous grant."

Moreover, the Ministry of Labor and Social Affairs announced that more than two and a half million individuals or heads of families are granted the grant of families affected by the Corona epidemic and the curfew.

The ministry stated in a statement that "the number of individuals in the submitted forms reached more than 12 million and 300 individuals, while the number of messages sent to confirm the entry of the grant form was more than 11 million."

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Iraq tops the list of forecasts for economic growth of international criticism in 2021

 
 04/18/2020
 
 

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The International Monetary Fund expected a sharp contraction in the economy this year, but it is optimistic about the recovery of the world's economies, including Arabic, in 2021.
The Fund reduced its forecast for global economic growth this year in light of the uncertainty associated with the spread of the emerging Corona virus in the world.
 
In April's Global Economic Prospects report, the IMF said that Covid 19 had caused high and high human costs worldwide, and isolation measures were severely affecting economic activity.

"Assuming that the epidemic will fade in the second half of 2020 and that stimulus measures around the world are effective, we expect global growth in 2021 to rise partly to 5.8%," said IMF chief economist Geeta Gopinath.
 
With regard to the Fund's expectations for the Arab region for the year 2021, the data showed that Iraq will top the Arab countries in terms of economic growth, as its economy will rise next year by 7.2%, after falling this year by 4.7%.

Iraq is second only to Algeria, and according to a fund, the Algerian economy will grow in 2021 by 6.2%, after declining in 2020 by 5.2%.
 In third place, Qatar will grow by 2021 by 5%, after a contraction in 2020 by 4.3%, and then by Morocco with a growth of 4.8%.
 
As for Saudi Arabia, it will grow in 2021 by 2.9%, to rank in the Arab countries in terms of growth in the tenth position, and it is surprising in the report that Egypt, the only Arab country that is expected to grow in 2020, will rank 11th in the list and grow in 2021 by 2.8%.

 

https://www.knnc.net/ar/Details.aspx?jimare=3939

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The Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund

 News8 Hours ago

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On Thursday, Deputy Prime Minister and Minister of Finance Fouad Hussein met, through closed-circuit television, with Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and his accompanying delegation.

A press statement issued by the media office of the Deputy Prime Minister and Minister of Finance stated, "The meeting was attended by the Iraqi side, Salah Al-Din Al-Hadithi, Director General of the Public Debt Department at the Ministry of Finance and Salem Chalabi, Adviser to the Prime Minister."

He added, “At the beginning of the meeting, Fouad Hussein clarified the most prominent challenges that Iraq faces in light of the crisis of the spread of Corona virus and low oil prices and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about ten million barrels per day To the global markets. Iraq’s acceptance to reduce more than one million barrels per day of Iraqi production, and the effect of this decision and the decline in oil prices on the financial and economic situation in Iraq. ”

On the other hand, the Deputy Prime Minister explained the studied measures on how to deal with this situation and the government's ways to face these challenges.

On the market situation and the availability of foodstuffs, Fouad Hussein emphasized the abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the existence of storage and food cover for the local market, This is considered positive in light of the current circumstances and the lack of local market prices due to the closure of border outlets and the interruption of trade exchange with other countries due to the spread of Corona disease.

He also referred to "the development in the agricultural sector, stressing also that the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of combating the Corona virus pandemic and the financial crisis."

 

https://altahreernews.com/14745/

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3 hours ago, navira said:

Economic, political, covid19 are what Iraq are facing this year...a big loss from covid19 alone. IMF projected a nice growth for Iraq in 2021. In my opinion, no rv this year.

Navira you are not in the camp that thinks the more stress on these “do nothing, corrupt, Iranians disguised as Iraqis”, the better? Force them to make drastic decisions?? Ie: RV??? 
 

I think this is exactly what is needed and I think this is so much bigger than simply Iraq itself.. Globally financially due to the virus, drastic measures are a must.. IMO..

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2 hours ago, GregHi said:

Navira you are not in the camp that thinks the more stress on these “do nothing, corrupt, Iranians disguised as Iraqis”, the better? Force them to make drastic decisions?? Ie: RV??? 
 

I think this is exactly what is needed and I think this is so much bigger than simply Iraq itself.. Globally financially due to the virus, drastic measures are a must.. IMO..

GregHi,  Concur 100 Percent...👍👍😁😁

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      Our percentages of a windfall have just improved by Chapter VII release and with each day getting closer to Iraq emerging back into International Status.
      A few more supporting links:
      https://en.wikipedia.org/wiki/Oil_reserves
      http://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_proven_reserves
      Happy Sunday, July 07, 2013 Stryker
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