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Parliamentary solutions to the financial crisis Al-Kazemi’s office .. Trends towards changing the dollar policy and the exchange rate


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Parliamentary solutions to the financial crisis Al-Kazemi’s office .. Trends towards changing the dollar policy and the exchange rate

2020-06-04
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Yassin Iraq: Baghdad

A number of deputies submitted several proposals to the government of Prime Minister Mustafa Al-Kazemi to reinforce the government's plan to overcome the financial crisis.

The proposals that the deputies read in a statement during the preparation for tomorrow's session included about 6 points and proposals, which included stopping the auction of selling the currency and changing the exchange rate in a way that does not affect the citizen, reviewing the import approach to reduce and prevent import of available products, as well as controlling border crossings and applying the agricultural calendar.

 

https://yesiraq.com/حلول-نيابية-على-مكتب-الكاظمي-للأزمة-ال/

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Amazing post Carrello 👍🏼😊   We all know what stopping the auctions means.... Moving from a closed economy to an open market economy with and international recognized currency. Go dinar

“A number of deputies submitted several proposals to the government of Prime Minister Mustafa Al-Kazemi to reinforce the government's plan to overcome the financial crisis. The proposals th

After Coming Under Heavy Criticism … The Central Bank Stops The Currency Auction  

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New aid to Iraq from the World Health Organization

مساعدات جديدة للعراق من منظمة الصحة العالميَّة


Thursday 04 June 2020
 

New aid to Iraq from the World Health Organization
Baghdad / Hazem Mohammed Habib 
 
The World Health Organization (WHO) has revealed that $3.6 million worth of medical assistance and equipment will be provided to Iraq in the coming period to cope with the Corona epidemic, noting that the organization has recently provided $1.3 million in medical assistance and equipment.
Dr Wael Hathat, head of the WHO emergency team in Iraq, said in a special statement to Al-Sabah: "Medical assistance from who from the who's main center will soon arrive in Iraq to deal with the Corona epidemic worth $3.6 million. They include about 176,000 psr used to screen and detect cases of MERS-CoV, 50,000 HIV-isolated laboratories, 90,000 sample transmitters, 2,500,000 ppe, "protective suits, masks, medical shoes,"88 medical beds, 100 surveillance screens for infected people, as well as oxygen concentration devices."
"The closure of airports and the disruption of transport in many countries in the Middle East have delayed the delivery of the first shipments of equipment, which were due to arrive in May," he said, adding that "with the start of the opening of the airports, the delay will be compensated and delivered to the Ministry of Health, which will in turn distribute it among the provinces, including the governorates of Kurdistan, during the coming period."
"This medical assistance will play a significant and effective role in giving the Ministry of Health space to increase the number of daily field check-ups for those infected, better assess the epidemiological situation and treat cases that require greater medical interference," he said.
The World Health Organization (WHO) has provided $1.3 million in medical assistance to date to address the Corona epidemic in Iraq. They are devices for the diagnosis of mers-coG, 50,000 sample transmitters and 500,000 ppe, including surgical muzzles, N95 muzzles and other preventive measures for the health sector, 34 advanced medical devices such as competitor, body bioactivity monitors, 30 medical beds, as well as a number of medical drugs, consumables and 200,000 pieces of medical equipment."

 

https://alsabaah.iq/26073/مساعدات-جديدة-للعراق-من-منظمة-الصحة-العالمي-ة

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Contracting with the Islamic World Bank to localize the salaries of employees of Wasit Support Fund contracts

 
A little while ago

Contracting with the Islamic World Bank to localize the salaries of employees of Wasit Support Fund contracts

 

 

 

The local administration in Wasit Governorate announced today, Thursday, the contract with the Islamic World Bank, Kut branch, to settle the salaries of employees of the contracts for the Wasit Support Fund.
Wasit Governor Muhammad Jamil Al-Mayahi said in a statement that Al-Mirbad received a copy of it that (one month's salary) will be disbursed as a first payment via the "Master Card" card until the revenue situation is regulated and work will be done in the future according to the new salary scale.
He called the contractors to review the bank in the form of meals and according to the alphabet, so that the procedures are duly completed. 
It is noteworthy that the employees of Wasit Support Fund contracts organized a demonstration last Sunday that witnessed the cutting off of the main roads with burning tires and the closure of the Kut Municipality Building, then it turned into an open sit-in in Al-Mutanabbi Square, in the center of Kut city, to demand the payment of their salaries that are 6 months late.

 

https://www.almirbad.com/detail/53348

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Parliamentary Committee: Interest in telecommunications will generate funds comparable to oil revenues

 

لجنة نيابية: الاهتمام بالاتصالات سيدر أموالاً تضاهي الإيرادات النفطية
Thursday 04 June 2020 - 09:59

Parliamentary Committee: Interest in telecommunications will generate funds comparable to oil revenues
Baghdad - Waaa - Nour Al-Zaidi
The Parliamentary Communications Committee stressed the need to pay attention to the telecommunications sector to provide new revenues for the country, while noting that there are debts and fines owed by mobile phone companies.
Committee member Alaa al-Rubaie told the Iraqi News Agency (AAP) that there are debts and fines incurred by mobile phone companies, calling on the media and telecommunications community to recover those debts.
He pointed out the importance of developing a new communications policy because of the importance of this sector in diversifying the country's financial resources, stressing that the interest in this sector will generate funds comparable to oil revenues.
With regard to contract officials, al-Rubaie stressed the need to transfer contract staff in all government institutions to permanent owners, noting that the retirement law provided some 210,000 career degrees that could be used for contracts.

 

https://www.ina.iq/107670/لجنة_نيابية:_الاهتمام_بالاتصالات_سيدر_أموالاً_تضاهي_الإيرادات_النفطية

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arrow2.gif Parliament obliges the government to send the budget this month

 

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arrow2.gif Parliament obliges the government to send the budget this month  
 
 
The House of Representatives finished in its second session of the fourth parliamentary session of the second legislative year of the second legislative term that was held under the chairmanship of Muhammad al-Halbousi, Speaker of the Council and in the presence of 184 deputies, yesterday, Wednesday, reading the local and external borrowing law to finance the financial deficit and discussed a mechanism Implementing a grant for poor families approved by the Cabinet due to the Corona pandemic.
At the beginning of the session, the council finished, according to the media office statement of the House of Representatives, reading the draft of the domestic and external borrowing law to finance the fiscal deficit for the year 2020 submitted by the Finance Committee, due to the delay in approving the federal budget for 2020 and the spread of the Corona pandemic in the world and the decline in crude oil prices significantly as The Iraqi government is facing difficulty in financing public expenditures and in order to facilitate financing the necessary overheads.
For his part, the speaker noted that «the legislation of the law does not excuse the government from sending the draft budget bill for the year 2020 to the House of Representatives».
Then, the parliament voted on a resolution requiring the government to expedite sending the draft general budget bill for the year 2020 to the parliament no later than 30 June 2020.
Al-Halbousi directed that "the Finance Committee host representatives of the General Retirement Authority and the Ministry of Finance to discuss the reasons for the delay in the distribution of the salaries of retirees who were referred to retirement."
In turn, the representative of the government referred to "the cabinet discussion of ways of financing the general budget items according to priority, warning that not going to borrow makes the state unable to pay salaries to employees, indicating that there is a fiscal deficit of 35 trillion dinars for the remaining months of the year."
The council discussed "the issue of following up the implementation of the grant for poor families due to the spread of the Corona pandemic, in the presence of Adel Hashush, Minister of Labor and Social Affairs and Director of Social Protection." The minister explained that «the emergency grant approved by the Council of Ministers to grant an amount of 30 thousand to ten million Iraqis does not receive a government salary by allocating an amount of 600 billion dinars from the central bank spent for two months at 300 billion a month, indicating that the first payment launched before the Eid holiday in various proportions due to The imposition of a curfew in cooperation with local telecommunications companies, pointing out that the number of applicants for the grant amounted to more than 14 million citizens and after checking the data by the ministers 4 million people were excluded because they did not meet the requirements ».
The interventions pointed to the “importance of providing members of the House of Representatives with tables that clarify the percentage of grant distribution for each governorate and the number of governorates that have been submitted to the grant in order to achieve justice in the distribution between citizens, inquiring about the specific time to release the remainder of the amount of the grant to those who are entitled to, and demanding the creation of an additional mechanism for abstaining citizens who do not use devices Communication and the necessity of the ministry relying on the mechanism of field survey of the regions to know the poor groups, and demanding the government's commitment to implement the Social Protection Law that the House of Representatives legislated without going to personal jurisprudence, and demanding to know the reasons for the failure of citizens in Nineveh Governorate to include the social welfare grant for years and until now, pointing to the existence of Corruption in the file of foreign labor as a result of the entry of hundreds of thousands of workers into Iraq without taking leave from the Ministry of Labor and Social Affairs.
In his response to the interventions during the session, which Hassan al-Kaabi presided over as part of it, the Minister of Labor and Social Affairs indicated that «the representatives’ remarks will be a road map for the future work of the ministry, indicating that setting the poverty line standard is not within the jurisdiction of the Ministry of Labor but rather from the tasks of the Ministry of Planning, stressing the inclusion of citizens In the Kurdistan Region with the emergency grant by presenting them through the communication networks Cork and Asia Celle, noting the need for some laws related to the Ministry's work to be modified by the legislative authority to cope with the current conditions, expressing the Ministry's readiness to conduct field visits to governorates that suffer from high rates of poverty line ».
In another matter, I directed the Presidency of the Council to hold a meeting next Saturday at eleven in the morning between the heads of the parliamentary blocs and the Legal Committee in order to review and audit the final version of the Parliament’s election law that was previously voted upon and the electoral districts.
Then it was decided to adjourn the session to next Saturday 6/6/2020. To that, a source familiar with the completion of Al-Kazemi's lineup will be in next Saturday's session.
The source said that «Al-Kazemi’s lineup for vacant ministries will be completed by voting for them in the next Saturday’s session of Parliament.
 
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“A number of deputies submitted several proposals to the government of Prime Minister Mustafa Al-Kazemi to reinforce the government's plan to overcome the financial crisis.

The proposals that the deputies read in a statement during the preparation for tomorrow's session included about 6 points and proposals, which included stopping the auction of selling the currency and changing the exchange rate in a way that does not affect the citizen, reviewing the import approach to reduce and prevent import of available products, as well as controlling border crossings and applying the agricultural calendar.“
 

Its coming..... Go RV.

💵💵💵💵💵💵

 

 

 

 

Thanks for the post MB.

 

 

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Economist: Budget deficit is "a lie" .. corruption is the cause of the financial crisis

The financial crisis
 
Thursday, June 04, 2020 

 


Economist Mohamed Attia Al- Saadi described the budget deficit as "a lie", noting: "Corruption, waste and poor planning are the real cause of the financial crisis, pointing out that more than $ 20 billion annually goes to less than 100,000 people.

" Al-Saadi said in a statement Journalist: “Two-thirds of the annual operating budget is spent for less than 250,000 people in violation of the law.

” He added: “More than twenty billion dollars go annually to less than a hundred thousand people, some of whom receive nine salaries, in addition to that billions of dollars are spent as additional allocations to People with special grades, including presidencies.

Al-Saadi called on the government to review the salary scale and achieve justice in the distribution of salaries to employees, to abolish the huge amounts of money granted to officials as social benefits, and to eliminate corruption in border crossings, taxes and customs, rather than threatening the simple employee withholding a percentage of his salary to cover the alleged deficit in the budget .
 
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Video: Draft 2020 budget ... mandatory cuts, cuts, and cuts

04-20-2020 
 

Reducing, reducing and withholding tax .. This is what was included in the twenty-year draft budget that was recently discussed by the General Secretariat of the Council of Ministers..and that is after the great deficit that results from the economic and financial crisis that the country is going through ..

Discussing financial matters and re-prioritizing the financing of budget items is the title carried by the documents issued by the General Secretariat ofCouncil of Ministers On the draft budget budget for the year 2020 and presented to the Council for discussion.
 
The draft included items and amendments said to come to fill the deficit in funding the care, medicine, and ration card and other necessary expenses, and also aims to reduce the impact of the economic crisis that will continue for a short period.

The first items proposed in the draft are the suspension of all appointments and the reappointment of the permanent and temporary owners such as contracts and daily procedures in government institutions for vacant positions and until the budget law is legislated, in addition to stopping unnecessary government expenditures in the centrally or self-financed departments (including the rental of private aircraft and internal and external delegations Conference fees, training, petty cash, hospitality, mobile phone fees, car purchases, furniture, and car maintenance for personal use etc.


And on the banks, the draft indicated that the governmental ones and the eligibility would be coordinated with The Central Bank of IraqReschedule the loan installments that the employees owe either by doubling the remaining period of repayment without increasing the total cost of the loan or rescheduling the remaining debt by agreement between the bank and the borrower.

As for the financing of the families of martyrs and political prisoners who receive more than one salary from the state, it will be in a sum that does not exceed the total monthly amount received by one million and five hundred thousand dinars for the families of the martyrs, and the amount of one million for prisoners or receive the highest salary only as of the first of June, and the financing of the dues of detainees in Rafha or Detainees with the minimum retirement salary stipulated in the unified retirement law number nine for the year two thousand and fourteen amended in the event that conditions are met, including that the period of his detention or detention should not be less than one year and those residing inIraq Currently, he should be the head of the family at the time of detention.

The allocations that officials receive from the President of the Republic, the government, the House of Representatives, and the ministers to the members of the Federal Court are reduced by sixty percent, provided that the salary and allocations do not exceed eight million dinars per month, and the total allocations that consultants, agents, general managers and those with their rank are reduced by fifty-five percent, provided that it does not exceed Salary and allowances six million dinars per month.

According to the draft also, it was decided to stop granting annual bonuses and promotions to all state employees, promotions to all military and other security agencies, and as of the first day of June this year, the financing of the total allocations that civil servants receive will be fifty percent, except for the nominal salary of employees whose income exceeds five hundred thousand dinars per month And the financing of the total allocations that the military, the employees of the Internal Security Forces, the Popular Mobilization, and other security and military classes pay, is seventy percent for those whose income exceeds five hundred thousand dinars per month.

Finally, all salaries received by employees of public companies, self-funded departments that do not receive a monthly financial grant, and retirees whose salaries are not less than five hundred thousand are subject to income tax.

 

https://www.alsumaria.tv/news/خاص-السومرية/347582/بالفيديو-مسودة-موازنة-2020-استقطاعات-وتقليص-وتخفيض

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With the documents .. The Central Bank sends an open letter to the Speaker of Parliament

04-20-2020
 
 

With the documents .. The Central Bank sends an open letter to the Speaker of Parliament

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Foreign exchange sale and purchase prices at private banking firms and offices in Iraq

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Foreign exchange sale and purchase prices at private banking firms and offices. A table of prices is given in Iraqi dinars for this day, corresponding to 04/06/2020
 
 
 

                         Selling, buying
US $ 124.000 123,500
Euro 142,000 140,000
Toman 1000 900
 
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Central Bank sends an open letter to the Speaker of Parliament (documents)

04/06/2020

 
image
 
 

 

 

BAGHDAD - Mawazine News
, The Iraqi Central Bank sent, Thursday, an open message to the Speaker of the House of Representatives, Muhammad Al-Halbousi, regarding the resort of some members of Parliament to the media, and launched accusations of an inaccurate and unreliable description towards the monetary authority in Iraq.
The bank stressed that these accusations aim at stirring up the public and stirring public opinion against state institutions, and give a negative impression in front of international institutions and forums, which is difficult to deal with and obtain their support, and weakens the opportunities for foreign investors.

 

https://www.mawazin.net/Details.aspx?jimare=103474

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In the documents .. the central bank proposes to transfer the currency auction to the Ministry of Finance

 Time: 4/26/2020 

 

 

In the documents .. the central bank proposes to transfer the currency auction to the Ministry of Finance
  
{Baghdad: Al Furat News} The Central Bank of Iraq renewed its proposal that the Finance Ministry take over the sale of the dollar to the market directly for exchange in Iraqi dinars to cover budget expenditures without the central bank’s mediation.

The Central Bank attributed its proposal in its letter to the three presidencies, {Euphrates News Agency} obtained a copy of it until it “devotes itself to carrying out its tasks, which are numerous and important for financial stability and economic stimulus, and in order to get the bank out of the confusion that this issue causes.”
It is said that suspicions of corruption are continuously raised on the auction sale of the currency of the Central Bank of Iraq , most recently its support for Arhab.anthy
Ammar al - Masoudi

https://alforatnews.com/news/بالوثائق-البنك-المركزي-يقترح-تحويل-مزاد-العملة-لوزارة-المالية

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Saleh stresses the importance of adopting a balanced monetary policy and rationalizing spending

04/06/2020

 

image
 
 

 

Baghdad - Mawazine News
President of the Republic Barham Salih confirmed on Thursday the importance of following a balanced monetary policy and rationalizing government spending in light of the current conditions facing the country.
A statement by the Presidency of the Republic received / Mawazine News / copy of it, that "Saleh received the Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, and stressed the need to follow a balanced monetary policy, and work to strengthen the financial situation through diversification of state resources and rationalization of government spending, especially in the current circumstances The country is facing the Corona pandemic, and low oil imports. "
The President stressed, "The importance of following rational financial policies that would achieve the supreme national interest and help Iraq to overcome the current crisis and achieve economic stability for citizens."
In turn, Al-Alaq reviewed the role of the central bank to reduce the economic repercussions of the Corona pandemic. Ended on 29 / h

 
 
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The President of the Republic stresses the necessity of a balanced monetary policy

04-20-2020
The President of the Republic stresses the necessity of a balanced monetary policy
 

On Thursday, President of the Republic Barham Saleh stressed the need to follow a balanced monetary policy and work to strengthen the financial situation through diversification of state resources and rationalization of government spending.

"The President of the Republic, Barham Salih, received, today, at the Baghdad Palace, the Governor of the Central Bank of Iraq, Ali Mohsen Ismail al-Alaq," the media office of the presidency said in a statement received by Alsumaria News.

Saleh stressed, according to the statement, "the necessity to follow a balanced monetary policy, and work to strengthen the financial situation through diversification of state resources and rationalization of government spending, especially in the current circumstances in which the country faces the Corona pandemic, and low oil imports."


The President of the Republic stressed "the importance of following rational financial policies that would achieve the supreme national interest and help Iraq to overcome the current crisis and achieve economic stability for citizens."

In turn, Al-Alaq reviewed the role of the central bank to reduce the economic repercussions of the Corona pandemic, expressing "thanks and appreciation for the interest shown by the President of the Republic to the bank in this sensitive circumstance."

 

https://www.alsumaria.tv/news/سياسة/347623/رئيس-الجمهورية-يؤكد-ضرورة-اتباع-سياسة-نقدية-متوازن

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7 hours ago, Laid Back said:

“A number of deputies submitted several proposals to the government of Prime Minister Mustafa Al-Kazemi to reinforce the government's plan to overcome the financial crisis.

The proposals that the deputies read in a statement during the preparation for tomorrow's session included about 6 points and proposals, which included stopping the auction of selling the currency and changing the exchange rate in a way that does not affect the citizen, reviewing the import approach to reduce and prevent import of available products, as well as controlling border crossings and applying the agricultural calendar.“
 

Its coming..... Go RV.

💵💵💵💵💵💵

 

 

 

 

Thanks for the post MB.

 

 

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This one is HUGE!!!

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20 minutes ago, horsesoldier said:

They’ll probably be talking about all of this for the rest of the year and deferring this into 2020 because more study will be needed. Thus, the $$$$ gravy train keeps chooglin on down the tracks.

 

7 hours ago, screwball said:

Cheap talk 

 

Yup to both.   Talking about a problem and not solving it is what they do best.  Bunch of lying thieving losers. 

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A deputy addressed Al-Kazemi with a message: He saved the future of Iraq from the trap of foreign debt

835868-935f902c-32b0-4765-8147-0b6ba0eec
Baghdad / Nina / Member of the Committee to Monitor the Implementation of the Governmental Program and Strategic Planning on the Sawaroun Parliamentary Bloc, Dr. "Inaam Al-Khuzai," sent an open letter to the Prime Minister entitled "Save the future of Iraq from the trap of foreign debt."

Al-Khuza’i said in her message she received the Iraqi National News Agency / NINA/ A copy of it: The draft (Domestic and External Borrowing Law) raises astonishment and great concern about government trends towards external borrowing, to finance public expenditures for several reasons; First: The reasons for the law of external borrowing are the decline in oil prices, and this decline is not surprising, and Iraq has been living with it for years due to fluctuations in oil prices, which have decreased and increased, adding: Thus there is no necessity to mortgage the country's economic and financial resources abroad due to the volatility of oil prices, especially as the prices are recovering Tangible after it touched the barrier of $ 40 a barrel recently due to the commitment of major oil producers to control production and start global economic activity in coexistence with the Corona pandemic and gradually move the economic sectors.

Al-Khuza’i explained: The second reason for abandoning external borrowing is the lack of a budget need for cash in “foreign currency,” but there is a need for “Iraqi dinars” to bridge the financing gap until prices recover and maximize other financial resources for the government, noting: The government directs to external borrowing. For the fate of Iraq to international wills and a serious threat to its political, economic and social security, instead, internal borrowing should be adopted by tracking the financial flows flowing from Iraqi banks (Al-Rafidain and Al-Rashid and the Iraqi Bank for Trade) and other private banks, and the central bank will support these banks as happened in 2016 And 2017.

Al-Khuzai noted that: the financial institutions operating in Iraq can be persuaded to secure good sums to supplement and finance the budget, until oil prices improve and all internal obligations and debts are paid without harming the sovereignty and political and economic future of Iraq, stressing: the need for the government to strive to maximize non-oil revenues , Eliminating pockets of corruption, wastage ports in the state’s resources, such as border ports and their huge revenues, real estate of the looted country, opening the file of “debts owed by communication companies”, Iraq’s money abroad, and other abundant financial resources, not immediately resorting to easy solutions (external borrowing). And risk the future of the country and the citizen. / End 3
 
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Al-Khuza’i explained: The second reason for abandoning external borrowing is the lack of a budget need for cash in “foreign currency,” but there is a need for “Iraqi dinars” to bridge the financing gap until prices recover and maximize other financial resources for the government, noting: The government directs to external borrowing. For the fate of Iraq to international wills and a serious threat to its political, economic and social security, instead, internal borrowing should be adopted by tracking the financial flows flowing from Iraqi banks (Al-Rafidain and Al-Rashid and the Iraqi Bank for Trade) and other private banks, and the central bank will support these banks as happened in 2016 And 2017.
Thanks Mary B !

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16 hours ago, Laid Back said:

“A number of deputies submitted several proposals to the government of Prime Minister Mustafa Al-Kazemi to reinforce the government's plan to overcome the financial crisis.

The proposals that the deputies read in a statement during the preparation for tomorrow's session included about 6 points and proposals, which included stopping the auction of selling the currency and changing the exchange rate in a way that does not affect the citizen, reviewing the import approach to reduce and prevent import of available products, as well as controlling border crossings and applying the agricultural calendar.“
 

Its coming..... Go RV.

💵💵💵💵💵💵

 

 

 

 

Thanks for the post MB.

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Quote

 

 

After Coming Under Heavy Criticism … The Central Bank Stops The Currency Auction

 

Last update June 4, 2020

 

The Independent / - An informed source confirmed that the Central Bank of Iraq management recently decided to stop the auction of foreign currencies after the Iraqi economy was subjected to severe setbacks due to the Corona pandemic and the drop in oil prices to record levels, and the Central Bank followed a failed monetary policy.

 

The source, who spoke on condition of anonymity, told Al-Mustaqila that the governor of the central bank has been subjected to great pressure in the past few days by many political blocs, the media and economists because of his unjustified insistence to proceed with the foreign currency auction window despite all the losses and risks incurred by the economy Iraqi.

 

The data published on the website of the Central Bank indicates that the last date for which a currency auction was held was on Thursday, 21/5/2020, where more than $ 180 million was purchased with the participation of more than 30 banks at the auction.

Below is the link for the results of the foreign currency sale window https://cbi.iq/currency_auction/all

image-1-17.jpg?w=560

https://www.mustaqila.com/%D8%A8%D8%B9%D8%AF-%D8%AA%D8%B9%D8%B1%D8%B6%D9%87-%D9%84%D8%A7%D9%86%D8%AA%D9%82%D8%A7%D8%AF%D8%A7%D8%AA-%D8%B4%D8%AF%D9%8A%D8%AF%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83/

Edited by Carrello
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