Parliamentary Finance: Al-Kazemi Has The Powers To Cancel The Currency Auction !

[Half Crazy Runner]

1 hour ago, Pitcher said:

.10 would work for me.  I’m not so sure I would exchange all of mine if I have a choice. I’ve waited for 12 years I can wait more if I believe it will go higher.  

 

My husband and I had this very  same conversation today. 10¢ would be a start, we’d probably only cash in some and wait to see what happens. 
 

On a side note, I got pooped on by a bird yesterday. Some myths and cultures believe this to be a sign of coming wealth and good fortune. So I’m willing to take the hit for the cause here! Come on Iraq, bring it!  😁 💩=💰 👍🏻 

[3n1]

11 minutes ago, Half Crazy Runner said:

On a side note, I got pooped on by a bird yesterday. Some myths and cultures believe this to be a sign of coming wealth and good fortune.

 

hope ur right HCR, cause after reading ur post we went to the park .......... 

 

[Pitcher]

29 minutes ago, 3n1 said:

hope ur right HCR, cause after reading ur post we went to the park .......... 

 

 

Very funny 3n1, with an assist from Half Crazy Runner.  😂 😆 😆 lMAO

 

 

[DinarThug]

On 5/30/2020 at 12:11 PM, DinarThug said:

On the Central Bank of Iraq report devoted to maintaining the value of the dinar against the dollar

 

30th May, 2020

by Dr Imad Abdul Latif Salem

This report, tagged with "Reducing the Iraqi dinar exchange rate, determinants and alternatives" (issued by the Central Bank of Iraq), begins by emphasizing that devaluing the local currency DEVALUATION has a different meaning in the rest of the world, compared to Iraq. This "reduction" means (in the rest of the world): "Reducing the official exchange rate of the local currency against an international reference currency, so that the number of units of foreign currency that can be obtained against a unit of the national currency decreases. As for Iraq, this is intended to reduce 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!

What is the difference between the two cases exactly? I swear to you that I do not know what the difference is, and there is never a flaw in this “confession.” All I have been able to understand from this premise is mined in “complex” concepts ((and with a limited mind as a mind)), that there is Whoever requests the central bank to devalue the "Iraqi" dinar, against the value of the "American" dollar .. so does the central bank have to do that? The answer is, of course.

Do you accept that the central bank do that? The answer is: No, a thousand, no, and over 14 pages, it is the full size of the report. The central bank does not tell us what the role of monetary policy is in the current circumstances, nor does it provide us with any assistance to get out of the catastrophic crisis that we are going to solve, march, and march now.

He only talks (and for 13 pages) about "determinants", whereas "alternatives" only exist in the second half of page 14 (and the last) of the report. These "alternatives" from the bank's point of view summarize what "others" must do, and not what the central bank can do as well, to help overcome the current plight of Iraq (and not of course, in playing the full role).

This report reviews all the failures, the chronic structural imbalances in the economy, the mismanagement of the economic file, and these are all borne by the “others”, and their consequences are borne by many other bodies, the most important of which is the Ministry of Finance (which is unfortunately for them, and only the general public knows), but “he” "(I.e. the central bank), he has played the main role: to achieve a foreign reserve of $ 70 billion, and to maintain an inflation rate of between 2.O and 3.0% - (which is better than the rate of inflation prevailing in the United States of America) ... and all of this has been achieved Indeed, without mentioning the feasibility of this in a country where the “official” unemployment rate is 12% (excluding underemployment) and about 40% with it.

What about the main role of economic policy (including monetary policy) in achieving a sensitive “trade-off” between inflation and unemployment in a country like Iraq? Well we do not know anything, so why did the central bank not tell us (in this report), what it could do, In front of the inability of everyone (other than him) to provide solutions?

In the report, we clearly see something of “populism”, which we should not beg to defend our “method” of maintaining the value of the dinar against the dollar (and not from the bank’s exchange rate policy currently adopted by the bank, according to the distinction mentioned in the introduction to the report). On many pages of the report, it is frequently referred to as an "axiom" that is not disputed, neither by the simple people, nor by the economic elites (with their huge mental potentials and superpowers).

And this populist - self-evident "discourse" is: O poor people, poor employees, poor pensioners, beneficiaries of scarce social welfare benefits ... be careful .. any attempt to reconsider the exchange rate of the dinar against the dollar will make you (you In particular, and not others), you pay a very high price, and the consequences for that will be on you (and not on others) ... very dire .. You may even die, you and your families, from hunger!

When we write what we are writing here now, we are not naive to call for "float", nor "criminals" to demand action in the notorious "shock" method and "traitors" to defend extinction before the IMF's "recipes" ... rather we believe that it is time Now, indeed it is necessary now, for the central bank to study proposals related to the necessity of working (gradually) with a realistic, "managed" exchange rate, and calculated with precision, so that the effect of the "new" exchange rate is less harmful and costly to the vulnerable groups of the population. It is also a truism to know that there is no decision without "costs", and no politics without "returns".

The most important arguments for the central bank in its defense of the "sanctity" (value) of the current Iraqi dinar against the value of the US dollar is the argument (or factor No. 1) on page 3 of the report.

This "Factor 1" deals with the state of the external sector "Balance of Payments". Although the report acknowledges the “rentier” of the Iraqi economy, its unilateralism, its strong openness to the outside, and its chronic structural imbalance, which extends from previous decades ago, it nevertheless affirms that Iraq has a “strong position in its external sector”, and this appears Obviously through the "adjusted current account surplus", and through the adequacy of the foreign reserves of $ 70 billion.

And Iraq "does not suffer from a balance of payments deficit" (without saying that this is very normal, because Iraq is still exporting oil with a value greater than all imports).

However ... despite all of that, the report presents to us on page 10 of it a table that deals with the effect of reducing the dinar's "exchange rate" against the dollar, at the main doors of the state's general budget, and assumes two rates of reduction, 10% and 20%, to show the effect of "reduction" On the public budget in both cases.

This table is based on the state's general budget data for the fiscal year 2019, and on the data of the “estimated” general budget project for 2020, and by relying on an exported oil price of $ 56 per barrel, and an average export rate of 3,880 barrels per day. Is this reasonable, and acceptable, in a report issued? On the most important economic institution, is the institution that monetary policy in Iraq ??

Is it reasonable and acceptable for the report to say (on page 4 of it) ... that the adjusted current account achieved a surplus of 5.75% of GDP in 2019, and is expected to continue in 2020 and beyond!

How were these "future" expectations built with this degree of confidence, contrary to the expectations of all economic experts, throughout this world, including those of international economic organizations ??.

Finally, the central bank has always been the school where it worked and graduated from, the best experts, professors, and economists in Iraq, so we hope that no one will donate to defend this report, or attack the criticism directed at it.

This report was a sincere and noble effort to defend monetary policy, and it was and will remain, in all countries of the world, a topic of controversy and permanent disagreement between its main parties, namely: stakeholders, policy makers, political leaders, and those interested in economic affairs, and those involved in general economic policy. We are not in a fight (or war) with each other, we all belong to Iraq, and we search, and work together, in the interest of this Iraq before any other consideration.

 

LINK

Al-Nusairi: Iraqi-Gulf economic ties are a step in the right direction for Iraq to return to its Arab depth
 

 

31st May 2020

The economic and banking advisor to the Association of Iraqi Private Banks, Samir Al-Nassiri, confirmed on Sunday that the Al-Kazemi government’s initiative to reconnect with the Gulf countries, which started with an important and serious visit to the Finance Minister to Saudi Arabia and Kuwait and to announce the intention to visit all Gulf and regional countries after a break and stopped for the coordination meetings of the Iraqi-Saudi Coordination Council after the visit The last of the large Saudi delegation, which included 7 ministers and a large number, with 113 government and private officials, to Baghdad in April 2019.

Al-Nusairi said in an interview with "Al-Iqtisad News", it is an important initiative to return Iraq to its Arab depth and openness to building balanced political, economic and security relations with brotherly and friendly countries, especially with the countries of the geographical region, in which the Arab depth of Iraq forms the basis and substance, indicating that it is a sure sign of The new foreign relations strategy adopted by Iraq since 2017.

He added that the first of these relations is the emergence of the Coordination Council with the Saudi side and held its first meeting in November 2017 in Saudi Arabia, and the signing of 13 memoranda of understanding for the previous government during the resignation of the resigned Prime Minister, but the relations did not continue according to the goals and principles agreed upon by the two parties for political and subjective reasons.

It is clear that strengthening Iraqi-Gulf relations in all political, security, and economic fields, in particular cooperation and communication, and strengthening banking relations between them, especially in foreign banking transactions, and stimulating and encouraging investment companies to invest in Iraq will lead to strengthening financing and investment fields, especially projects for the reconstruction of liberated cities.

Al-Nusairi pointed out that the Iraqi economy is currently going through a critical and complicated stage and a suffocating financial crisis due to its low oil revenues, the main resource for the general budget, and this coincided with an outbreak of Corona’s misdemeanor and its effects on the economies of most of the world, including what the Iraqi economy currently suffers, and since one of the priorities of the new government is to bypass the crisis Economic and eradication of the epidemic in addition to political and security tasks.

He pointed out that it requires the government, especially after the broad international, regional, Gulf and Arab openness to Iraq and the beginning of building new relations, and that what we are concerned with here is the future of international economic, financial and banking relations in general and with the Arab Gulf states in particular and some Arab countries of influencing economic depth and extending the bridges of the relationship together to serve the opening New horizons for communication, for exchanging benefits, encouraging Arab investment in Iraq, developing infrastructure and banking technology, increasing inter-bank transactions, and finding new ways to cooperate with correspondent and discreet banks in those countries.

Al-Nusairi stressed that it is necessary to take advantage of the results of the bilateral meetings that took place between the Central Bank of Iraq and the relevant ministries and representatives of the Gulf countries who visited Iraq during the past year and with the important participation of the Iraqi private sector and in particular the private banking sector to draw a road map for communication and joint coordination for the purpose of actual direct To develop what has been reached from the general lines for building and restoring economic, financial and banking relations that have been broken off for several decades, emphasizing the agreement to develop and open broad horizons for cooperation in the economic and banking fields, correcting previous tracks, and overcoming all obstacles that stand in the way of building sound and solid banking relations. 

Al-Nusairi called for the necessity of joint banking cooperation with Saudi Arabia in all fields that enhance, activate and develop external banking transactions, encourage and stimulate investment, build capabilities, qualify and train Iraqi banking cadres, and open branches of Saudi banks in Iraq and branches of Iraqi banks in Saudi Arabia, as well as establish banks with joint Saudi and Iraqi contributions.

[DinarThug]

LINK

The Iraqi government officially approached the parliament for external borrowing

 

31st May, 2020

 

Announced MP from the bloc open parliamentary Fadel Fatlawi, on Sunday, for sending the government of Iraqi writers to parliament on borrowing outside

He said Fatlawi told Twilight News, that "the government is not able to resort to borrowing the outside without the approval of the Council of Representatives", pointing to the "last stopped borrowing external in the budget of 2019"

He added that "the Council of Ministers sent a book to the parliament to discuss the request of the government and resort to borrowing outside to fill the deficit in the draft law of the budget general for the year 2020

Among Fatlawi, that "the Ministry of Finance and experts economists will assess the need of Iraq actual to loans foreign, then it will determine the countries to resort to bridge the deficit fiscal in the budget public

The source in the Council of Ministers of Iraq revealed on Thursday (21 May this) for asylum the government to borrow from three banks and government to secure the salaries of employees for the months of May / May this and June / June next

As expected adviser economic government of Iraq the appearance of Mohammed Saleh, on Tuesday (26 May this) to resort the government to borrow financial to secure the salaries of employees and workers in the sector public

###############

[DinarThug]

It’s Jamal Cougar Along With His ‘Dr Evil’ Alter Ego - Jamal ‘Freddy’ Krujer !  

 

     

 

 

LINK

Member of Parliamentary Finance: A Dream and Prosperity Crisis Has Passed A Dream

 

 

05/31/2020 19:17:55

 

 

Member of the Parliamentary Finance Committee, Jamal Kujer, announced that the government was able to resolve the salary crisis of employees after the recovery of oil and the high prices that reached $ 36 a barrel.

Cougar said in a press statement that "Iraq earns for every dollar that rises in the price of oil, about one billion and 315 million dollars, which contributed to solving the problem of paying employee salaries, in addition to the internal loans that the government has resorted to which may also go to the bank reserve."

Cougar talked about the Minister of Finance Ali Allawi’s visit to Saudi Arabia early this month to discuss cooperation between the two countries and Iraq’s obtaining of electric power from the Saudi side. He continued, that the government was taking electricity from Iran, but after the American pressure on the Iranian side, which reached sensitive stages, and giving the United States a deadline for Iraq to stop importing energy from Iran, it prompted the search for alternatives.

Cougar continued, that Iraq went to Saudi Arabia, through the delegation headed by the Minister of Finance, to provide electricity to the Iraqi state, at prices lower than the Iranian price. Cougar noted that the Iraqi state may move to other countries, such as the UAE and Qatar, to obtain loans and electric power.

Cougar said, "The prosperity of Iraq under Corona, which all countries suffer from, is very difficult. Therefore, the Iraqi state can overcome the crisis. As for prosperity, this is a dream." He pointed to "the impact of trade exchange and a lot of economic activities between Iraq and Iran, following the American blockade on the Iranian side."

[DinarThug]

LINK

Among them is the reduction of the salaries of the three presidencies and monitoring the currency auction .. Parliamentary economics makes proposals to the government

 

31st May 2020
 

The Parliamentary Investment and Economy Committee presented Sunday proposals to the government to get out of the financial crisis, including reducing the salaries of the three presidencies and monitoring the currency auction.

The committee member, Nada Shaker Jawdat, said that "monitoring and preventing the currency auction in the central bank, which is considered a smuggling of hard currency outside Iraq, in addition to reducing the salaries of the three presidencies to overcome the crisis."

Jawdat demanded that the Prime Minister "immediately freeze the Rafha law, issue a law to do so and transfer the money to the employees sector to confront the crisis instead of deducting their salaries that are a right of their rights, adopting the electronic system for border ports and ports, whose resources are estimated at the amount of oil revenues that can feed salaries instead Of borrowing, because Iraq does not need a heavy financial and political burden in the case of borrowing.”

[DinarThug]

22 hours ago, DinarThug said:

 

Member of it: Parliamentary Finance will call the Minister of Finance against the background of sending 400 billion to Kurdistan Ali Abdul Amir Allawi

 

Policy 05/30/2020 15:37 286     

Baghdad today - Baghdad 

 

Naji Al-Saeedi, a member of the Finance Committee in the Iraqi Parliament, said Saturday (30 May 2020) that his committee will summon the Minister of Finance, Ali Allawi, against the backdrop of sending 400 billion dinars to the Kurdistan Regional Government. 

Al-Saeedi said in an interview with (Baghdad Today), that "the committee will have a position and a word, from the deposit of Finance Minister Ali Allawi, 400 billion dinars in the Kurdistan region account." 

And Al-Saidi said, "The Parliamentary Finance Committee will work to summon the Minister of Finance, for the purpose of placing points on the letters, regarding these violations, and the behaviors rejected and in violation of the laws," as he put it.

The Finance Minister, Ali Abdul Amir Allawi, had directed last Saturday, to deposit 400 billion dinars in the Kurdistan Regional Government account. 

In a book issued by the Minister of Finance, on (24 May this year): (1) In order to disburse the region’s dues for the month of April 2020, and to note that the amount has been debited to our current account granted to the Central Bank of Iraq, with the number (70009). 

To that, a source in the Kurdistan government said, "The sums sent from Baghdad will be distributed as salaries early next month to the employees and the Peshmerga after completing the revenues that the region gets from selling oil and border outlets." 

The transfer of the amount of 400 billion dinars comes after the resignation of the government of Adel Abdul-Mahdi to stop the disbursement of funds to the Kurdistan Region, and his request to recover the money spent in violation of the budget law for the salaries of the region's employees, as the region has not delivered oil imports to the federal government.

In this regard, the leader of the victory coalition, Ahmed al-Hamdani, said in his interview with (Baghdad Today), that "at every stage the Minister of Finance gives half of Iraq's money to the Kurdistan region, with the approval of the federal government or not with it, and most of the money goes to the region without supervision or Accounting". 

He added, "This transfer came according to political settlement deals to pass the ministerial cabinet, and this money is in exchange for the Kurdish forces voting on Mustafa Al-Kazemi's government, and every prime minister who comes will have great Kurdish pressure to obtain concessions and gains."

LINK

 

LINK

Iraqi Finance issues an explanation about depositing an amount for the salaries of the Kurdistan Region

 

31st May 2020

The media office of the Iraqi Finance Minister, Ali Abdul Amir Allawi, confirmed on Sunday the deposit of funds in the account of the Kurdistan Regional Government, stressing that no new exchange orders will be issued to the region if a final and comprehensive agreement is not reached between Baghdad and Erbil.

The minister’s office said in a statement sent to Shafaq News, “Media outlets recently published misleading information about the mechanism of depositing the Iraqi Ministry of Finance in its book number 809 on May 24, 2020, amounting to 400 billion Iraqi dinars in the Kurdistan Regional Government account.”

The office added that "the Iraqi Ministry of Finance confirms its commitment to the laws and official work mechanisms in its exchange orders, and that the said amount is calculated in the account of the Kurdistan Regional Government to pay the expenses of the region, including the salaries of employees for the month of April, and according to an agreement concluded with the region, according to book number 802 On May 19/2020, which stipulated to enter into intensive meetings between representatives of the central government and the Kurdistan Regional Government for the month of June to agree on a final settlement between the two parties by adopting the Federal Financial Management Law.

The statement stressed that "the book indicated that the payment of subsequent dues is linked to the conclusion of a final agreement and the actual implementation of the said agreement."

The statement clarified, "Where the approval of the region was mentioned in the book referred to in the book of the Ministry of Finance and Economy in the region No. 201 on 05/19/2020, the amount referred to has been disbursed for the month of April, and new exchange orders will not be issued before a final agreement is reached. And a comprehensive between the federal government and the Kurdistan Regional Government."

The Iraqi Finance Ministry called on the "media to be accurate in the circulation of information, and to consider with responsibility the great challenges facing the government at various levels, and the urgent need for solidarity and concerted efforts of everyone to overcome them."

A document issued by the Iraqi Ministry of Finance showed the latter's decision to deposit 400 billion dinars in the Kurdistan Region account. The document was issued on May 24, and it was signed with the signature of Finance Minister Ali Allawi and addressed to the Payments Financing Unit.

In the document, which Shafak News Agency obtained a copy of, it said, "Please take what is necessary to deposit an amount of four hundred billion dinars in the current account in the name of the Kurdistan Regional Government / Ministry of Finance and Economy / Erbil open with the Central Bank of Iraq / Erbil in the numbered account (1) and that On the disbursement of the region's dues for the month of April 2020 and note the amount being credited to our current account granted with the Central Bank of Iraq, with the number (70009).

The previous government headed by Adel Abdul-Mahdi had decided last April to stop the payment of salaries of employees of the Kurdistan Region after it said that Erbil had not fulfilled its financial budget pledge to deliver 250,000 barrels per day of oil to the federal government. The Kurdistan Regional Government has repeatedly stressed its commitment to the budget agreement.

The cut in salaries came amid the Corona virus crisis, which caused the collapse of oil prices, adding to pressure on the region's government. Over the past weeks, Baghdad and Erbil have had extensive discussions on outstanding issues between them for many years, chief among them are conflict areas, oil wealth management, and the region’s share of the federal budget.

[DinarThug]

LINK

Iraq adopts two oil prices in the public financial budget

 

31st May, 2020

The Parliamentary Finance Committee revealed, on Sunday, the adoption of two oil prices, one for fixed operation and the other for mobile investment in the financial budget for the current year.

"There will be a forthcoming meeting of the government headed by Prime Minister Mustafa Al-Kazemi to discuss the draft budget law for the year 2020," the committee’s rapporteur, Ahmed Al-Saffar, told Shafaq News, indicating that it will be sent to parliament in the coming weeks.

He added, "The budget will be approved when it reaches parliament," noting that "the general budget will be private and semi-annually in light of the health conditions and the economic crisis."

He added, "It will be concerned with securing the salaries of employees, the health and security situation, the ration card and preparing the atmosphere for early elections," noting that "oil prices have reached 38 dollars per barrel, so it is expected that the general budget will be based on two oil prices, one of which is fixed for the operational budget and the other will be the budget." Investment for the remainder of the year. "

The delay in sending the federal budget by the government to the Iraqi parliament due to the continuous protests since last October, which led to the resignation of the previous government headed by Adel Abdel-Mahdi and its transformation into a caretaker government that is not within its powers to send the draft budget budget to parliament.

The current year’s budget (according to the government’s proposed project) is 162 trillion dinars (135 billion dollars), with a planned financial deficit of 48 trillion dinars (40 billion dollars), including three trillion dinars (2.5 billion dollars) to implement the projects agreed with China.

[DinarThug]

LINK

Parliamentary Finance: 30 items of revenue that are not entered into the budget due to corruption
 

 

31st May, 2020

The decision of the Parliamentary Finance Committee Ahmad Al-Saffar revealed, on Sunday, 20 to 30 items of revenue that do not enter the budget due to corruption, while warning that prejudice to the employees’ salaries constitutes a threat to government stability.

Al-Saffar said in a televised interview with "Al-Iqtisad News", that "prejudice to the salaries of employees in light of the circumstances that Iraq is going through today to confront Corona and the economic recession; Very dangerous for government stability, especially since this crisis will not exceed more than two months, as oil prices are rising and the global economy has begun to regain its vitality again.” He added, “Borrowing from the central bank’s reserves for two months is a quick solution that can be easily compensated and returned at a low interest rate because it is short-term.” 

Al-Saffar said, “The government should exclude unnecessary expenditures related to large allocations and other matters related to petty cash and protections, which also constitute a waste of public money.” He pointed out that “the state has from 20 to 30 items of revenue that do not enter the budget due to corruption starting with border crossings and customs And the real estate of the state, so the financial system must be re-established, move away from monetary policies, deal with cache and rely on the electronic automation of payment, in addition to resorting to the biometer until the state gets rid of the burden of multiple salaries, and we need to review the salaries and put a new ladder for them.

Al-Saffar stressed, "Restructuring the financial system for public revenues, as well as getting rid of the rentier system that depends on unstable oil revenues and relying on diversification of resources such as agriculture, industry and tourism, and that Iraq be an importer." 

[DinarThug]

 

 

The government is preparing to issue a new reform package mid this week

05/31/2020 09:57:39 PM

Baghdad / extent

 

The Parliamentary Economy and Investment Committee expected the cabinet to issue a new reform package next Tuesday, stressing that the government will freeze Rafha's salaries after the Reform Committee decided to address double salaries and pensions for those covered. 

Nada Shaker Jawdat, a member of the Parliamentary Committee on Economy and Investment, said in a statement to Al-Mada that "everyone should wait for the decisions of the government financial reform committee to address double salaries and reduce the salaries of high grades and the detainees of Rafha before judging them."
Prime Minister Mustafa Al-Kazemi directed yesterday, during his presidency of the periodic meeting of the Financial Reform Committee, to address the double salaries and pensions of the detainees of Rafha, and demanded that a number of measures be taken to address them, most notably the reduction of salaries of the highest levels in state institutions.

Jawdat continues that her committee "made several proposals to overcome the current financial crisis by controlling border ports and ports that generate huge funds, and obliging mobile phone companies to pay the financial dues that they paid", pointing out that "canceling these salaries requires the legislation of some laws in Parliament."

And confirms that "the government can freeze the implementation of these laws until they are amended and legislated in proportion to what the government wants," expecting that "the cabinet session will have new decisions to fix the deteriorating financial situation."

In turn, Rahim Darraji, the former lawmaker, said in a statement to (to the extent) that "the financial reform committee formed by Prime Minister Mustafa Al-Kazimi needs exceptional decisions to deal with the operations of wasting public money and eliminating outrageous salary cases of so-called Rafha salaries." Darraji calls for "reviewing the Rafha law, which the House of Representatives voted in 2013," stressing that "all officials and politicians have included the names of their relatives in the lists included in Rafha's salaries, and they are not present in the Rafha camp."

The Rafha privileges are the salaries allocated to opponents who took refuge in Saudi Arabia, and put them in a camp in the city of Rafha close to its borders with Iraq, after the "popular uprising" against Saddam Hussein's regime in 1991, whereby the law that Parliament legislated in 2013 grants residency to the camp, even for a period of one week, They and their families have fixed monthly salaries that include even those who were breastfed at the time, at a rate of one million and 200,000 dinars per month, in addition to free treatment, travel and study.

The Secretary-General of the Enough Movement adds that "the prime minister must stop these salaries while mandating the State Shura Council to review these salaries and allocate the salary to those who participated in the popular uprising and went to the Rafha camp."

The Minister of Finance, Ali Abdul Amir Allawi, had revealed on Friday (May 22, 2020) the categories covered by the reduction of salaries, while specifying the deduction mechanism and ways to reduce it or withdraw it saving.

Allawi said in a televised meeting that "the government will determine the priorities of the crushed and poor class, and that any reduction in salaries will not include employees, or retirees at lower levels who receive a salary of 500 thousand dinars or less," noting that "the rest of the other groups that consume half the budget with high salaries It will be covered and reduced. "

As for those with dual salaries, Darraji says, "The governmental financial reform committee must open the file of alien and imaginary salaries that generate monthly funds for political parties," noting that "the number of these delusional is estimated at 600,000 fake and space names in all ministries."

The member of the Parliamentary Finance Committee, Jamal Kujer, has confirmed in press statements that the Parliamentary Finance Committee does not have an accurate database of space employees in government institutions. Stressing the "need to open this file and review it to eliminate aliens."

On May 12, 2020, Judge Raheem Al-Okaili revealed the total pension payments that political prisoners and residents of Rafha camps receive.

Al-Okaili said in a post on his Facebook page, "The total number of political prisoners and detainees who are receiving pension salaries is: - (99612) ninety nine thousand six hundred and twelve."

He added, "There are (18577) political prisoners, (51854) political prisoners, and (29181) detainees of Rafhawi." Al-Aqili continued, "These categories collect a total of (one hundred and one billion, one hundred and seventy-six million dinars) per month, without counting double salaries for those who have double salaries."

Several efforts to cancel the law previously failed, as the beneficiaries of the Rafha Law accused the authorities and personalities that demanded its abolition by working with "Baathist agendas", which caused the suspension of any demands in this regard, for fear of these charges.

link

Edited May 31, 2020 by DinarThug

[DinarThug]

Including reducing the salaries of the three presidencies, observing the currency auction and freezing the Rafha law ... proposals at the government table to revive the economy and save the country from the financial crisis

May 31, 2020 11:09 PM Author: alzawraapaper

 

 

Baghdad / Al-Zawraa:

Parliamentary committees are seeking with economic experts and international consultations to present proposals to the government to get out of the financial crisis, in light of the drop in oil prices and the Corona pandemic, and the stagnation that may cripple the global trade movement.

In this regard, the Parliamentary Investment and Economy Committee presented, Sunday, proposals to the government to get out of the financial crisis, including reducing the salaries of the three presidencies and monitoring the currency auction.

Member of the Committee, Nada Shaker Jawdat said: "Monitoring and preventing the currency auction in the central bank, which is considered a smuggling of hard currency outside Iraq, as well as reducing the salaries of the three presidencies to overcome the crisis, the government's proposals to get out of the financial crisis."

Jawdat demanded that the Prime Minister immediately freeze the Rafha law, issue a law to do so and transfer the money to the employees sector to confront the crisis instead of deducting their salaries that are a right of their rights, adopting the electronic system for border ports and ports, whose resources are estimated at the amount of oil revenues, which can feed salaries instead From borrowing, Iraq does not need to be burdened financially and politically in the case of borrowing ».

For its part, the Parliamentary Finance Committee affirmed, yesterday, Sunday, that the government does not have the power to cancel or limit the salary of one of those covered by the Rafha Law, political prisoners, and martyrs except after new legislation by the House of Representatives, stating that the government can freeze salaries and grant one salary to each family until canceled Previous laws.

Committee member, Hanin al-Qaddo, said in a press statement that “Prime Minister Mustafa Al-Kazemi’s talk about canceling or limiting the salaries of those covered by the laws of Rafha and political prisoners and martyrs needs new legislation because the government does not have the authority to determine or cancel it because it is issued by laws, and it must be canceled or determined by laws New Parliament votes on. Stressing that "the desire to determine or cancel it is available to members of the Council in the event that these amendments are presented to the House of Representatives."

“The government’s decision to reduce or cancel the salaries of Rafha, political prisoners, and martyrs is a violation of the laws and can be challenged,” Al-Kiddo added. He pointed out that "the government can take a decision to freeze the payment of salaries until new amendments are issued to these laws."

While the decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, revealed yesterday, Sunday, 20 to 30 items of revenue that do not enter the budget due to corruption, while warning that prejudice to the salaries of employees poses a threat to government stability.

Al-Saffar said in a press interview that "prejudice to the salaries of employees in light of the circumstances that Iraq is going through today in the face of Corona and the economic recession; Very dangerous for government stability, especially since this crisis will not exceed more than two months, as oil prices are rising and the global economy has begun to regain its vitality again. ”

He added that "borrowing from the central bank's reserves for two months is a quick solution that can be easily compensated and returned with low interest, as it is short-term." He pointed out that "internal borrowing is better than external borrowing, which depends on conditions and very large benefits that may overburden the government at a later time."

Al-Saffar explained that “the government should exclude unnecessary expenditures related to large allocations and other matters related to petty cash and protections, which also constitute a waste of public money.” He pointed out that “the state has from 20 to 30 items of revenue that do not enter the budget due to corruption starting with border crossings, customs and real estate The state, therefore, must restore the financial system, move away from monetary policies, deal with (cache), and rely on the electronic automation of payment, as well as resort to a biometer until the state gets rid of the burden of multiple salaries, and we need to review the salaries and put a new ladder for them.

Al-Saffar stressed, "Restructuring the financial system for public revenues, as well as getting rid of the rentier system that depends on unstable oil revenues and relying on diversification of resources such as agriculture, industry and tourism, and that Iraq be an importer."

Also, a member of the Finance Committee, Faisal Al-Issawi, revealed the formation of a committee from the government and parliament to address the economic crisis that Iraq is going through.

Al-Issawi stressed, "The formation of a committee specialized in solving the economic crisis headed by the Chairman of the Finance Committee in Parliament, Haitham Al-Jubouri, whose mission is to present proposals that guarantee the continued payment of salaries of employees and retirees and social assistance."

Noting that "the committee formed to solve the economic crisis submitted ninety proposals, none of which have been approved yet, but that during the current week, appropriate options will be put in place for the government and parliament to cross the crisis."

Al-Issawi pointed out that "reducing the salaries of employees is an unrelated proposal, while compulsory savings and the reduction of unimportant allocations were discussed," noting that "the saving mechanism according to the proposal starts from salaries that amount to one million dinars and above."
LINK

[DinarThug]

Cougar Alert !  

 

     

 

 

 

Member of Parliamentary Finance: International Monetary Loans Affect "National Sovereignty" .. Go to the Gulf Countries

 

Policy 05/31 2020 17:33 223    

Baghdad today - Baghdad 

 

Member of Parliamentary Finance Committee MP Jamal Cougar, Sunday (May 31, 2020), considered that the IMF loans affect national sovereignty and should not be used to reduce the effects of the financial crisis.

Cougar said in an interview with (Baghdad today) that "borrowing, whether internally or externally, is one of the tools that the current government will resort to overcoming its financial crisis, but foreign loans, especially from the International Monetary Fund, affect national sovereignty because they are carried out under conditions."

Cougar added, "The situation is completely different if the loans are from friendly countries, including the Gulf states, because they will be soft loans, and I do not think that they will affect national sovereignty."

The Council of Ministers, in its session held on Saturday (May 9, 2020), decided to approve the draft domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 and refer it to the House of Representatives in accordance with the provisions of the constitutional articles.

Member of Parliamentary Finance Committee MP Ahmed Al-Saffar revealed on Monday (18 May 2020) that the Ministry of Finance submitted an official request to the House of Representatives to authorize the Minister of Finance to borrow internally and externally, while he made 4 comments on the request.

Al-Saffar said in an interview with (Baghdad today), "The Finance Ministry submitted an official request to Parliament to authorize its minister to borrow internally and externally," stressing that "the Finance Committee will hold a close session to study the request." 

Al-Saffar added, "Our most important observations on the official request of the Ministry of Finance are not to specify the amount of the loan, the interest rate, the sections for disbursing the loan, and the authority from which borrowing will take place," stressing that "the committee meeting will discuss all observations before making any decision about the request."

LINK

[DinarThug]

Iraq and the salary insurance dilemma .. A parliamentary proposal to request Gulf financing and talk about possible “American loans”

 

Policy 05/19/2020 20:00 2663     

Baghdad today - Baghdad 

 

The Corona pandemic crises and the drop in oil prices hit Iraq, casting shadows on rentier countries, making it in trouble to secure the salaries of state employees for the coming months. 

He was accompanied by the salary insurance dilemma, he put forward dozens of proposals to redress the crisis, including domestic borrowing, or from friendly countries, and to exclude unnecessary expenditures related to large allocations and other matters related to petty cash and protections, which also constitute a waste of public money, go to local production, and find ways to fix the reality Rentier economy. 

Meanwhile, the appetite of social media platforms is opening to spread tens of rumors, some of which have not yet been proven, such as going to savings and reducing employee salaries.

Mortgaged price per barrel! 

Haneen Qaddou, a member of the Parliamentary Finance Committee, considered that the government's ability to secure the salaries of employees during the coming months depends on the price of a barrel of oil. 

Qaddo said in an interview singled out (Baghdad today), that "the government will be able to secure the salaries of employees for the coming months if the price of a barrel of oil exceeds the barrier of 45 dollars." 

He added that "keeping the prices as they are today, i.e. just above $ 30 a barrel, will make the government facing a serious and difficult challenge and the options will be limited, which is resorting to internal or external borrowing." 

Temporary crisis

The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, on Sunday (May 31, 2020), saw that prejudice to the salaries of employees is a threat to government stability, while noting that the crisis will not last more than two months.

Al-Saffar said in a press statement that "prejudice to the salaries of employees in light of the circumstances that Iraq is going through today in the face of Corona and the economic recession; very dangerous for government stability, especially since this crisis will not exceed more than two months, as oil prices are escalating and the global economy has begun to regain its vitality from new". 

He added, "Borrowing from the central bank’s reserves for two months is a quick solution that can be easily compensated and returned at low interest, as it is short-term." .

American loans

And a conversation is being held in political circles, that the United States of America will take advantage of the country's economic conditions to pressure the delegation of the Iraqi government in the strategic negotiations, scheduled for mid-June, in exchange for giving Iraq funds to help it in its financial crisis. 

As a member of the State of Law coalition MP Kata al-Rikabi spoke, saying that "Iraq and America negotiations on the strategic framework agreement that began work after 2008 will be launched in mid-June next at the request of Washington," noting that "the agreement is still valid and has not been canceled either from Iraq Or America, and any new agreement that will take place will be presented to the House of Representatives. " 

He continued: "And on the talk of some of them, that America uses economic conditions to impose matters in the upcoming negotiations, including financial loans to support the Iraqi state in paying its employees' salaries, this matter is not possible."

And that the reasons for this are that "America is in a very difficult economic situation, especially with the repercussions of the Corona crisis, and the emergence of demonstrations that were accompanied by burning, looting and security tension," noting that "it is unable to grant financial loans, whether to Iraq to support its financial file or any other country." ".

And he continued, "The results of the negotiations will be presented to the representatives of the people in the House of Representatives, and it is impossible for them to have secret clauses, because they will be discussed and then voted on by affirmative or rejection according to convictions."

Parliamentary advice to go to the Gulf states

In turn, member of the Parliamentary Finance Committee, Jamal Cougar, believes that the IMF loans affect national sovereignty and should not be used to reduce the effects of the financial crisis.

Cougar said in an interview with (Baghdad today) that "borrowing, whether internally or externally, is one of the tools that the current government will resort to overcoming its financial crisis, but foreign loans, especially from the International Monetary Fund, affect national sovereignty because they are carried out under conditions." 

Cougar added, "The situation is completely different if the loans are from friendly countries, including the Gulf states, because they will be soft loans, and I do not think that they will affect national sovereignty." 

The Council of Ministers, in its session held on Saturday (May 9, 2020), decided to approve the draft domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 and refer it to the House of Representatives in accordance with the provisions of the constitutional articles.

LINK

[horsesoldier]

16 1/2 years of despicable GOI corruption, verbal diarrhea & HEAPS 'O      + = a Migraine & a perennial . What's it gonna take to get these fools off the dime ????? Even with it collapsing all around them their sense of urgency is anything but urgent.

 

Under these circumstances, al-Kazemi still appears to be moving awfully damn fast. Hoping everyone can catch up in the nick of time.

[southbeach]

1 hour ago, DinarThug said:

Cougar Alert !  

 

     

 

 

 

Member of Parliamentary Finance: International Monetary Loans Affect "National Sovereignty" .. Go to the Gulf Countries

 

Policy 05/31 2020 17:33 223    

Baghdad today - Baghdad 

 

Member of Parliamentary Finance Committee MP Jamal Cougar, Sunday (May 31, 2020), considered that the IMF loans affect national sovereignty and should not be used to reduce the effects of the financial crisis.

Cougar said in an interview with (Baghdad today) that "borrowing, whether internally or externally, is one of the tools that the current government will resort to overcoming its financial crisis, but foreign loans, especially from the International Monetary Fund, affect national sovereignty because they are carried out under conditions."

Cougar added, "The situation is completely different if the loans are from friendly countries, including the Gulf states, because they will be soft loans, and I do not think that they will affect national sovereignty."

The Council of Ministers, in its session held on Saturday (May 9, 2020), decided to approve the draft domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 and refer it to the House of Representatives in accordance with the provisions of the constitutional articles.

Member of Parliamentary Finance Committee MP Ahmed Al-Saffar revealed on Monday (18 May 2020) that the Ministry of Finance submitted an official request to the House of Representatives to authorize the Minister of Finance to borrow internally and externally, while he made 4 comments on the request.

Al-Saffar said in an interview with (Baghdad today), "The Finance Ministry submitted an official request to Parliament to authorize its minister to borrow internally and externally," stressing that "the Finance Committee will hold a close session to study the request." 

Al-Saffar added, "Our most important observations on the official request of the Ministry of Finance are not to specify the amount of the loan, the interest rate, the sections for disbursing the loan, and the authority from which borrowing will take place," stressing that "the committee meeting will discuss all observations before making any decision about the request."

LINK

Where, Scotts?

[Gypsygirl11]

Reform package done midweek..... let's see what this is about. Bye-bye auctions would be nice.

[gregp]

36 minutes ago, Gypsygirl11 said:

Reform package done midweek..... let's see what this is about. Bye-bye auctions would be nice.

This week looks really promising.  With the curfew in place, this might be it. 

[DinarThug]

The Cougar Says That The Money’s Available !  

 

 

And This Cat Knows What He’s Talking About ...

 

     
 

Finance Committee: High oil prices will enable the government to solve the salary crisis

2020.05.31 - 19:18

 

Baghdad - people  

 

Member of the Kurdistan Islamic Union bloc and member of the Finance Committee in Parliament Jamal Kujer confirmed Sunday the government’s ability to resolve the salary crisis of employees after the recovery of oil and its high prices, which reached $ 36 a barrel.  

Cougar added, in a statement followed by "Nass" (May 31, 2020), that "Iraq earns for every dollar that rises in the price of oil, about one billion and 315 million dollars, which contributed to solving the problem of paying the salaries of employees, in addition to the internal loans that the government has resorted to." That may also go to the bank reserve. "  

And on the visit of the Iraqi Finance Minister, Ali Allawi, to Saudi Arabia early this month to discuss cooperation between the two countries, and Iraq’s obtaining electric power from the Saudi side, he said that “the Iraqi government was taking electricity from Iran but after the American pressure on the Iranian side, which It reached sensitive stages, and giving the United States of America a deadline for Iraq to stop importing energy from Iran, which led to the search for alternatives. "  

He pointed out that "Iraq went to Saudi Arabia, through the delegation headed by the Minister of Finance, to provide the Iraqi state with electric power, at prices lower than the Iranian price," explaining that "the Iraqi state may move to other countries, such as the UAE, and Qatar, to obtain loans , Electric power. "  

On overcoming the current crisis, between Cougar, that "the prosperity of Iraq under Corona, which all countries suffer from, is very difficult, and therefore the Iraqi state can bypass the crisis, but prosperity is a dream," noting that "trade exchange was affected, and a lot of economic activities, Between Iraq and Iran, following the American blockade on the Iranian side. "  

LINK

[DinarThug]

BAGHDAD DIGS IN, SAYS NO FURTHER TRANSFERS TO ERBIL UNTIL BUDGET DEAL COMPLETE

 

 

9 Hours ago

SULAIMANI — The federal Ministry of Finance said on Sunday (May 31) that it will not release any additional money to the Kurdistan Region until Baghdad and Erbil fully resolve their budget dispute.

The ministry said in a statement that it is committed to following the law and official procedures for spending money, stressing that a recent disbursement of 400 billion Iraqi dinars ($335.3 million) to the Kurdistan Regional Government (KRG) was specifically to pay the April salaries of public sector employees.

It reiterated that it had transferred the funds under the terms of an interim agreement outlined in letters exchanged between the two capitals, which promised that they would hold intensive meetings in June to finalize a comprehensive agreement within thirty days.

Under the terms of the 2019 Federal Budget Law, Baghdad is expected to send 12.67 percent of the entire budget to the Kurdistan Region, in return for 250,000 barrels of crude oil per day for export.

However, the KRG abrogated the agreement immediately, never sending any oil to Baghdad.

Nevertheless, the federal government continued to send funding to pay for public sector salaries, as it was required to under the budget law.

In April, after tolerating the KRG’s failure to follow the law for fifteen months, it froze all budget transfers.

Negotiating teams began meeting at that point, but so far have been unable to reach an agreement.

Historically low oil prices have exacerbated the dispute by putting both governments under increased financial pressure, given their reliance on oil exports.

(NRT Digital Media)

link

[screwball]

6 hours ago, gregp said:

This week looks really promising.  With the curfew in place, this might be it. 

Let’s hope mate next few weeks will be interesting 

[screwball]

Saying and doing two entirely different things...

[horsesoldier]

These Pin heads always saying what they’re gonna do, but hardly ever do what they say. Despicable isn’t it.

[CSM (R) Thack]

35 minutes ago, horsesoldier said:

These Pin heads always saying what they’re gonna do, but hardly ever do what they say. Despicable isn’t it.

Yes...it is!!!