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An Economist Reveals The Reason For The Iraqi Dinar’s Decline Against The Dollar !


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CNN. Broadcasting While Pitcher And I Put On Our Dinar ‘Rallying Caps’ !


 

 

An economist reveals the reason for the Iraqi dinar’s decline against the dollar

 

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Economie 06/10/2020 19:53 220     


Baghdad today _ Baghdad  


 

The economic expert, Abdel-Hassan Al-Shammari, revealed today, Wednesday, the reason for the high dollar exchange rate and the Iraqi dinar price. 

Abdul-Hassan Al-Shammari said, in an interview with (Baghdad Today), that "the devaluation of the Iraqi dinar is very little, due to the lack of sales at the auction during this period."

Al-Shammari added, "The rise of the Iraqi dinar will return as it was in the past, immediately after selling at the currency auction," stressing that "the government controls the value of the central dinar through the central bank."

And between the economic expert, that "the dollar's rise and the Iraqi dinar’s decline are temporary, partial and very simple."

And rose the dollar exchange rates, today, Tuesday, on the stock market struggle and local markets, against the Iraqi dinar.

The prices of the Kifah Stock Exchange - Baghdad recorded 124,300 dinars per 100 dollars. 

The selling and buying prices came in the banking shops: 

The sale price of the dollar = 125,000 dinars. 

The purchase price of the dollar = 124,000 dinars.

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Watch a government consultant explain the package of reforms in the new and Kazemii decision, shocked by the higher salaries ... Are we past the stage of danger?


2020-06-10
 
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Yassin Iraq: Baghdad

 

The Adviser to the Prime Minister, Hisham Dawood, said that the Council of Ministers voted on the project of Finance Minister Ali Allawi for economic and financial reform in Iraq, indicating that this project was officially turned into a decision.

Dawood mentioned that Iraq is going through a financial crisis and oil prices are unstable and even at its current price is not sufficient to pay salaries and therefore there is no option but economic and financial reform.

He added, the deduction will include the salaries of high-ranking employees, which is not a large deduction, but the maximum thing is 10 percent.

He continued, We inherited a very flaccid state and among the employees and retirees, who number approximately 6 million people, and these are waiting for a monthly salary from the state and our income is only oil and we do not have national production at the level.

And the decision also included a package of reforms to facilitate the work of the local market, reduce pressure on the local market, encourage investment and attract capitals from abroad.

(VIDEO LINK - ADVISER - APPROX. 25 MINUTES)

Al-Kazemi is shocked by the salaries

The Prime Minister, Mustafa Al-Kazemi, said that the current stage is not a period of austerity, but rather a challenging stage, stressing that there are pensions amounting to 18 million dinars, and this is unreasonable.

Al-Kazefi said in a speech opening the cabinet session yesterday: “A reasonable person looks forward to retirement in the state, and his retirement is 8, 12, and 18 million dinars.” He asked: “What law accepts this?”

And he added: "We must be fair, and we have a sense of people, and feel their pain, we should not forget ourselves."

Al-Kazemi added: "Today we are not in a period of austerity, but rather a phase of greater challenge than austerity, and we have no choice."

He continued: "There will be no harm to the families of the martyrs. People did not understand the paper, and interpreted it in their own way. ”, Referring to the reform paper presented, and the government still did not approve it.

(VIDEO LINK - KHADIMI - 2+ MINUTES)

Ali Allawi worried about the crisis

The Minister of Finance, Ali Abdul Amir Allawi, revealed the day before yesterday, Monday, the size of the deficit in the revenues of this year, compared to the sums the state needs to secure salaries, while it revealed several ways, he said that the government will resort to to solve the financial crisis.

Allawi said during a press conference, held in Baghdad, after the end of the special cabinet session, that "the accumulations of wrong policies since 2003 to this day have led to real problems in the economic infrastructure of Iraq," noting that previous governments did not face the economic side with the required seriousness ”

He added that "we are now working to confront these accumulations and solve them through the cooperation of all to cross this economic crisis and enter a new economic space."

And that "the economic crisis occurred because of the decline in oil revenues very low, and even after the relative rise, the government will import 3 trillion dinars during one month."

Allawi pointed out that "the expenses of the state during each month amount to 7 trillion dinars, and that the deficit that occurs during each month is 5 trillion and we are working to find a way to provide it."

He expected, Minister of Finance, that "oil prices rise in the next stage, but this rise cannot cover the deficit in the budget."

He pointed out that "Iraq suffers from three basic problems, the most prominent of which is the financial crisis that occurs and how to deal with it without affecting the middle classes of income and the poor." Processed. ”

(VIDEO LINK - ADVISER 3+ MINUTES)

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Parliament hosts the Minister of Finance, Director of the Budget Department, and the Governor of the Central Bank to discuss salary cuts

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Policy 10/06/2020 13:54 683 Editor: ha    


Baghdad today - Baghdad 

 

A parliamentary source said, on Wednesday (June 10, 2020), that the House of Representatives summoned the Minister of Finance Ali Abdul Amir Allawi, the Director of the Budget Department, Taif Sami, and the Governor of the Central Bank, Ali Al-Alaq, to discuss deduction of employee salaries.

The source said in an interview with (Baghdad today), that "the parliamentary finance, headed by the first deputy speaker of Parliament, Hassan Al Kaabi, hosted the Minister of Finance, the Director of the Budget Department, and the governor of the Central Bank to discuss the deduction of salaries and the financial crisis."

The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, had confirmed earlier that the applicable income tax would be applied to the total salary instead of the nominal starting from the current month.

Saleh added, "The proposals issued regarding deduction of salaries have been canceled, but salaries will be dealt with according to the income tax with exceptions to that, as this law will not include those whose salaries are less than 500 thousand dinars." 

The official newspaper, Al-Sabah, quoted Saleh as saying that "the income tax law is on the nominal salary and now it will be applied to the total salary, that is, the nominal with the allocations," noting that "the income tax law is fixed and deductions range between 10 to 15 on All employees". 

He pointed out that "the matter was discussed, but nothing official has been issued yet and the government is working hard to provide the salaries for the current month of June." 

Continued . . .

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Parliament Presidency hosts the Minister of Finance and Budget Director to discuss the deduction of salaries

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10th June 2020

 

The Parliamentary Finance Committee, headed by a member of the Presidency in Parliament, Hassan Al-Kaabi, hosted today, Wednesday, the Minister of Finance, Director of the General Budget, Taif Sami, and the Governor of the Central Bank to discuss the deduction of salaries and the financial crisis

The media department of the House of Representatives stated, in a brief statement, received by "Gilgamesh Press", that "Parliamentary Finance headed by First Deputy Hassan Al-Kaabi hosts the Minister of Finance and Budget Director Taif Sami and the Governor of the Central Bank to discuss the deduction of salaries and the financial crisis

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Parliamentary Finance: Fear of not paying salaries began to recede

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10th June, 2020


The Parliamentary Finance Committee confirmed, on Wednesday, that the fear of non-payment of salaries began to decline with the rise in oil prices.

According to the official agency, the committee member, Mahasin Hamdoun, said, "Oil prices have started to recover again, and the fear of not paying salaries has started to decline." She added, "The decision to reduce salaries has not yet been received," noting that "the committee supports the deduction of the salaries of the three presidencies, and the special grades, and not to prejudice the salaries of the simple employee."

She pointed out that "there are several alternatives to deduction of salaries", explaining, "We have many entities that maximize revenue, including stopping the import of agricultural crops, as well as activating the customs tariff on imported goods." 

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Parliamentary Finance: The state has 3 options to secure the salaries of state employees

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12:17 - 10/06/2020

Member of Parliamentary Finance Committee, MP Jamal Cougar, confirmed on Wednesday that the state has 3 main options to secure salaries for its employees if it does not adopt the real reform.

"If there are no decisive reform decisions to tackle corruption and waste of public money, the state will have to adopt 3 main options to secure the salaries of its employees, which is extending the hand to bank reserves, borrowing internally or externally, or deductions,"Cougar said in a statement to "The Information."

Cougar added, "The financial situation of Iraq is difficult and critical, and it is increasing with  time, stressing the importance of reform in alleviating the difficult situation."  Iraq has beensuffering for months from a very difficult financial situation after the collapse of world oil prices in a way that has become very difficult to secure the salaries of state employees. 
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The Finance Committee excludes the application of the Income Tax Law to employees at 10 and 15%

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10th June 2020


Finance Committee member Jamal Cougar, on Wednesday, ruled out the application of the income tax law to employees at rates of 10 to 15%.

"The government, if it wants to apply the income tax on the nominal salary, it must include those whose salary is more than a million and a half and more, even though what is issued today by the government is guesses only because everything that is proposed must be by amending laws and issuing decisions that vote on it," said committee member Jamal Couger. Parliament."

Cougar pointed out that "what the media are circulating is nothing more than statements that are suggestions. The government is still waiting for how much oil prices will rise," expecting that "salaries for this month will be paid in full, and if oil prices rise to $ 45 per barrel in Next month, the government will abolish the idea of deduction from salaries."

A member of the committee ruled out, "the application of the income tax law to employees at rates of 10 to 15%," noting that "deduction of 5 percent may be a reasonable rate."

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President Saleh and the Minister of Finance discuss the financial crisis and measures to overcome it

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10th June, 2020


The President of the Republic, Barham Salih, received today, Thursday at the Baghdad Palace, Minister of Finance Ali Abdul Amir Alawi.

The President of the Republic stressed the necessity of undertaking appropriate reforms and combating corruption, and working to rationalize government spending and preserve public money, and to develop and diversify the sources of the economy while the country faces the new Corona epidemic, stressing that economic remedies to get out of the current conditions should not affect layers Limited income, employees and retirees and their life obligations.

It was also stressed that the outstanding issues between the federal government and the Kurdistan Regional Government should be resolved in accordance with the constitution and legal frameworks in a manner that preserves the rights of all citizens. The meeting also discussed the necessary means to support Iraq to face the current financial crisis and the plans and measures required to overcome it, and the importance of unifying efforts and solidarity among all to reduce the deficit in the public budget in order to achieve social justice and economic stability for all Iraqis.

In turn, the Minister of Finance reviewed the procedures followed by the Ministry in dealing with the economic and financial conditions, and what the current circumstance requires in concerted efforts to overcome the current stage and its implications for public life.

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The House of Representatives adjourns the vote on the domestic and foreign borrowing bill

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10th June 2020

Today, Wednesday, the House of Representatives decided to postpone the vote on the domestic and foreign borrowing bill to finance the fiscal deficit for the year 2020.

The Chairman of the Council also instructed the Finance Committee to hold a meeting to discuss the economic crisis and the draft borrowing law in the presence of the deputies and the relevant committees.

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Al-Halbousi directs a meeting to discuss the economic crisis and the draft borrowing law 

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10th June, 2020


Speaker of the House of Representatives, Muhammad Al-Halbousi, on Wednesday directed a meeting to discuss the economic crisis and the draft borrowing law.

"The House of Representatives has decided to postpone the vote on the draft domestic and foreign borrowing law to finance the fiscal deficit for the year 2020," the media department of the House of Representatives said in a statement received by Mawazine News.

The statement added, "The Speaker of the House of Representatives, Muhammad al-Halbousi, directed the Finance Committee to hold a meeting to discuss the economic crisis and the draft borrowing law in the presence of the deputies and the relevant committees." 

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Who cut the salaries of retirees? .. Representatives, experts, and citizens are asking ... a sensation and a legal impasse in which the government and parliament lie to the organization


2020-06-10
 
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Yassin Iraq: Baghdad

 

A source in a government bank revealed that the government started deducting the salaries of retirees for the month of June.

The source stated to "Yass Iraq" that "the government has started this month withholding salaries according to the decision of the Council of Ministers to apply the income tax and that it will be 10% for those of his retirement salary 500 thousand dinars and less than a million dinars and 15% for his salary one million dinars or more."

He added that "the deduction in the employees salaries will start from the end of this month and with the same percentages and amounts mentioned in the salaries of retirees."

Economic advisor to the government

The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, said today, Wednesday, that the applicable income tax will be applied to the total salary instead of the nominal starting from the current month.

And Saleh stated, in a press statement that "the income tax law is on the nominal salary and now it will be applied to the total salary, that is, the nominal with the allocations," noting that "the income tax law is fixed and deductions in it range from 10 to 15 for all employees."

Saleh added, "The proposals issued regarding deduction of salaries have been canceled, but salaries will be dealt with according to the income tax with exceptions in that, as this law will not include those whose salaries are less than 500 thousand dinars, indicating that the matter was discussed but was not issued Anything formal yet, and the government is working hard to provide the salaries for the current month of June. ”

Law experts stressed that the government cannot prejudice the salaries of employees and retirees without a law that the House of Representatives votes on.

Deduction is against the law

The economist, Nabil Al-Marsoumi, said in a clarification shared with him, “Yassin Iraq,” that the tax deduction for the pensioners ’salaries that actually took place today is completely contrary to the Income Tax Law No. 113 of 1982 and its amendments in the year 2004, as Article 7 in paragraph 6 of Chapter IV of the Special With exemptions, it provides for exemptions of pensioners' income from income tax, which includes pensions, retirement benefits, end of service benefits and regular leave salaries.

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A deputy comments on deduction

Member of the Finance Committee in the Iraqi parliament, Abdul-Hadi Al-Saadawi, confirmed today, Wednesday, that their committee will intervene to find out the reasons for deducting the salaries of retirees, while noting that the Council of Ministers did not issue a decision to deduct.

Al-Saadawi said in a press interview, “Any decision to deduct any part of the pensioners’ salaries does not exist, nor is there any law that allows any government agency to deduct the pensioners ’salaries, except through legislation within the Iraqi parliament, to be according to a specific mechanism and in accordance with the unified pension law.” .

And, "The deductions that took place in the salaries of retirees have not been announced by any government agency, and we will intervene and know who the retirement organization is, what are the reasons for deductions from the salaries of retirees," stressing that "there is no decision by the Council of Ministers to deduct, as even the Ministry of Finance is not entitled to She has it. ”

Cabinet decision

And the cabinet agreed at its meeting yesterday to re-prioritize spending items, in line with the financial and economic reform adopted by the Iraqi government, which includes its first package, salaries of senior state employees, double salaries, treatment of imaginary employees, pension salaries for the detainees of Rafha and what the entity’s employees receive. Dissolved for the previous system of pension salaries in accordance with the retirement law and within the minimum pensions.

Al-Kazemi's advisor explains the reform project

The Adviser to the Prime Minister, Hisham Daou, said that the Council of Ministers voted on the project of Finance Minister Ali Allawi for economic and financial reform in Iraq, indicating that this project was officially turned into a decision.

Dawood mentioned that Iraq is going through a financial crisis and oil prices are unstable and even at its current price is not sufficient to pay salaries and therefore there is no option but economic and financial reform.

He added, the deduction will include the salaries of high-ranking employees, which is not a large deduction, but the maximum thing is 10 percent.

He continued, We inherited a very flaccid state and among the employees and retirees, who number approximately 6 million people, and these are waiting for a monthly salary from the state and our income is only oil and we do not have national production at the level.

Citizens are wondering

The issue of sudden deduction raised the citizens' frustration on social media, as many questions began about the reason for the deduction so quickly and the beginning will be retired.


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Soon .. a Kurdish delegation visits Baghdad

4UEJxyzlsHPTh8JeJXbym7H7uYmQTrRkdbxeTE3j

 

10th June, 2020


The office of the Vice-President of the Kurdistan Regional Government, Qubad Talabani, revealed, on Wednesday, the visit of the delegation of the Kurdistan Regional Government to the capital Baghdad to discuss tackling the outstanding problems with the federal government.

Samir Hawrami, a spokesman for the office, said, according to Kurdish media, that "the dialogues with the federal government will continue and the negotiating delegation to the Kurdistan Regional Government will visit the capital Baghdad soon to resume dialogues with the federal government."

He added, "The negotiating delegation of the Kurdistan Regional Government held a round of dialogues with the previous government, and the delegation will go to Baghdad to complete the dialogues with the new government, stressing that there is a good intention to agree on both sides."

This was the negotiating delegation for the Kurdistan Regional Government headed by Qubad Talabani had held a series of dialogues with the previous government on financial files and oil imports, and the two sides reached several recommendations and important points that it is hoped will lead to a final agreement on the outstanding files.

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In the document .. Kurdish Deputy: 400 billion dinars, which was allocated as salaries for Kurdistan employees, went to companies and the region's debts

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Localities 10/26/2020 18:59 933    


Baghdad today - Baghdad 
 

Kurdish lawmaker, Sercut Shams Al-Din, today, Wednesday, called the Integrity Commission to investigate the financial amount allocated by the Baghdad government as salaries for employees of the Kurdistan region, which amounted to 400 billion dinars. 

Today, Baghdad News, obtained a document issued by the Kurdish MP and addressed to the Integrity Commission in the Federal Government, including a request to open an investigation to go the amount referred to. 

Shams al-Din had said earlier, that the Kurdistan government decided to use the amount it had recently obtained from the federal government of 400 billion dinars "to pay fake loans", while stressing that "political bargains and deals" led to granting this amount to Kurdistan

The deputy stated that "despite the fact that the goal of the financial financing obtained by the region's government from the federal government, which is estimated at (400 billion dinars), was for the purpose of paying the salaries of the region's employees, the Masroor Barzani government decided to use that amount to pay loans, which are originally loans ( Fake) is unfounded. " 

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He added that "a pleased government claims to have loaned sums in order to pay the salaries of employees, but the issue of borrowing money to distribute the salaries of employees was not raised to the (parliament of the region) basically, meaning that the (alleged) loan process did not get the approval of Parliament!" And he continued, "And if there was a loan operation for money on the ground, why was it not presented to Parliament ?!" He concluded, "The truth, my dear, that basically the pleased government did not borrow a dinar, but rather it is (a lie) in order to loot the amount funded by the federal government for the region's government, which is estimated at (400 billion Iraqi dinars )."

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2 hours ago, DinarThug said:

the accumulations of wrong policies since 2003 to this day have led to real problems in the economic infrastructure of Iraq," noting that previous governments did not face the economic side with the required seriousness ”

He added that "we are now working to confront these accumulations and solve them through the cooperation of all to cross this economic crisis and enter a new economic space."

God I hope these people can get their shite straight once and for all!

Thank you Thugs!

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soon

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2 hours ago, DinarThug said:

Soon .. a Kurdish delegation visits Baghdad

4UEJxyzlsHPTh8JeJXbym7H7uYmQTrRkdbxeTE3j

 

10th June, 2020

 

1 hour ago, soon said:

looks like the Barzani clan has struck again, left the workers empty handed. what do you think?   :butt-kicking:

 

What Did U Say Ur Name Was Again ? :o     :soon: 

 

:D  :D  :D 

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After the commotion, the government issued a "confident" statement of the cuts: 73% received fully .. and this is our plan


2020-06-10
 
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Yassin Iraq: Baghdad

 

The Iraqi government issued a statement on the uproar of the deductions that affected the retirees ’salaries, while stating that its step is within the context of“ justice ”, while revealing that more than 40,000 people from the Rafha detainees and political prisoners have not received their salaries.

The government media said in a statement, "Yes Iraq" received a copy of it, that "1,786,771 retirees today received their full salaries without any deductions because they are not covered by the recent cabinet decision that excluded those who receive a salary of less than 500,000 dinars per month from any deductions."

He indicated that he received 73.55% of retirees without their deduction, with those who receive a salary less than 500,000 dinars per month excluded from any deduction.

He pointed out that "the Iraqi government adopted the principle of justice as a basis for its reform program and to protect people with low and low incomes and not to include them in any deductions."

He confirmed that 30,975 people did not receive the salaries of the detainees of Rafha, and were asked to review the institution of political prisoners and prove that they resided in Iraq, and 13,210 of the political detainees did not receive their pension because they received second salaries as employees in the Iraqi state.

Government media confirmed that “the financial reforms in its first package include: salaries of senior state employees, double salaries, imaginary employees, pensions for the detainees of Rafha, and salaries of employees of dissolved entities of the previous regime.”

The House’s decision does nothing

And it seems that the decision of the House of Representatives that was voted upon, regarding the rejection of salary deductions by the government due to the absence of a law that allows this, will be “air in the net”, while the decision to deduct and suspend it depends on the decision of the executive government.

Today, during its regular session, the House of Representatives voted on a decision rejecting deductions from the salaries of all employees or retired people in any way and rejecting any taxes imposed on it unless it was stipulated by a legal law.

The political expert, Basil Hussein, said, "The parliament’s decision regarding rejecting deductions has no value, because according to the constitution, Article 61 has the right to issue laws and oversight. As for issuing decisions binding on the executive branch, this is something that Parliament has absolutely no possession."

He added that "the Federal Court had previously issued a final and binding decision for all authorities under Article (94) of the Constitution in the year 2018 in which it was decided that (it is not within the competence of the Council of Representatives to issue binding decisions for the executive authority)."

For his part, the head of the Center for Strategic Studies, Munqeth Dagher, said in a tweet monitored by "Yassin Iraq" that "the non-binding decision issued by Parliament today to prevent the government from deducting salaries indicates: Our parliament is populist with distinction because it knows that this decision is not binding on the government, so Parliament He legislates laws, monitors implementation, and does not issue decisions. ”Moreover,“ the rift began between Parliament and the government and (next night we hear the sense of Ayat)! ”, According to Dagher’s expression.

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Retirement Board: We will start returning the deductions from retirees tomorrow

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11th June, 2020


The Director of the General Retirement Authority, Ahmed Al-Saadi, announced today, Thursday, that the authority has received a directive from Prime Minister Mustafa Al-Kazemi to return the sums cut from the salaries of retirees.

Al-Saadi said in a statement, followed by "Gilgamesh Press", that "the prime minister directed to return the sums deducted from the salaries of retirees, and we started work immediately and we will raise them to their smart cards."

Prime Minister Mustafa Al-Kazemi confirmed earlier today that the deductions in some salaries were a financing operation due to lack of liquidity.

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    • By DinarThug
      CNN. Broadcasting While Handing Out The Corona Masks (Secretly Dipped In Laughing Gas) For The Meeting !
       
      The second round of strategic dialogue between Iraq and America will start soon, amid Sunni-Kurdish support
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      The spokesman for the Kataeb Brigades, Kazem Al-Fartousi, told local media yesterday, Sunday, “The goal of the visit of the Iraqi Prime Minister, Mustafa Al-Kazemi, to the United States of America, is to give guarantees that the PMF will be dissolved. Iraqi - Iranian relations.

      And he believed that “Mustafa Al-Kazemi pledged allegiance to the United States of America, before he obtained the position of prime minister, and now he has started carrying out some actions in accordance with American interests, and will also work to fight the resistance factions,” threatening to say: “We will have real stops from these actions, if applied In reality".

      In spite of this, but the leader of the "Al-Fateh" coalition, Ghazanfar Al-Battikh, indicated that the pressure on the removal of US forces from Iraq has "receded".

      He added, "The Islamic Republic of Iran is the most concerned about the American presence in Iraq and the region," noting that "this presence constitutes a threat and danger, and may be a starting point for launching operations and strikes against Tehran," according to "Shafaq News".

      He indicated that "the pressure regarding the removal of US forces from Iraq has eased at the present time," noting that "there are personalities and political parties, who speak in another way at night and in the day."

      He added that "there are pressures from various parties to relieve pressure on the exit of American forces from Iraq, and these pressures from all sides, and it is not unlikely that there will be Iranian pressure on a group of factions to reduce pressure in this file at the present time, for the purpose of calming down with the United States of America." .

      In contrast to the Shiite position, the Sunnis and the Kurds agree on the importance of continuing the relationship between Baghdad and Washington in all files, relying on American support and adopting a balanced policy in relations with everyone.

      Member of Parliament, Zafer Al-Ani, saw that Iraq needs tangible American and international support in several areas, "Otherwise, the situation of Prime Minister Mustafa Al-Kazemi is difficult."

      And he added in a statement yesterday, that “the visit is undoubtedly important for both countries, but as the White House statement described it, it comes at a (critical time), and the criticality of time does not stem from the fact that the two presidents are preparing to run for the elections, but because it will test the extent to which the two sides are serious about a long strategic relationship. Long-term or breaking the bonds of this fragile alliance. He added, "The topics of the visit are important to us as Iraqis, as it will discuss security, economy, energy and health files," noting that "Iraq needs tangible American support in these areas that have become worrisome, and without this support, whether direct or by encouraging other countries to provide it, the situation will be Al-Kazemi made difficult and his chances of achieving his reform program are slim.

      Likewise, the head of the "Kurdistan Democratic Party" bloc, MP Vian Sabri, confirmed that Al-Kazemi's visit "is necessary in expanding cooperation relations between the two countries," while noting that it signals an improvement in relations between the two countries.

      Sabri told the official agency, "This visit is an indication of an improvement in relations between Iraq and the United States, especially since Al-Kazemi emphasized in his government program the importance of foreign relations with the countries of the world," noting that "relations are based on sovereignty, balance and cooperation." She added that "the visit is necessary to discuss bilateral files, to enhance coordination and security cooperation in the face of terrorism, and to health cooperation in the face of Corona, in addition to economic cooperation in the fields of investment and energy."
      Bright Besan
      Arab Jerusalem
      link
    • By DinarThug
      CNN. Broadcasting The Ninth Indicator That Iraq Is Back On Track - As Provided By The DV Members !
       
       
      Go Ahead And Jump On Out There With Ur Bad Self HorseSoldier...
       
       
      LINK
      Report: 8 indicators that Iraq is back on track

       
      6th August, 2020

      A report by the "Wall Street Journal" said that Iraq is finally back on the right track, although it is going through an unenviable situation at the present time as a result of the Corona pandemic and the conflict of regional and international wills within its territories.
      The report monitored several indicators cited by the American Brookings Institution confirming progress in many ways in the country from 2003 until today.
      First: The country's population has increased from about 25 million in the last years of Saddam Hussein’s rule to 40 million today. According to the newspaper, this in itself is neither good nor bad, but it does mean that Iraq is large enough to be an important player in Middle East politics.
      Second: The per capita gross domestic product has risen to nearly six thousand dollars compared to less than four thousand two decades ago. The newspaper report indicates that it is certain that there is still great poverty in Iraq, corruption is rampant, and job prospects for Iraqi youth are modest, but nevertheless, there have been positive economic developments.
      Third: Oil production has increased from about 2.5 million barrels per day in the last years of Saddam’s rule to about 4.5 million barrels now, and export revenues from oil have tripled on average since 2002.
      Fourth: The annual rate of internal displacement has more than halved since the defeat of ISIS. ISIS.
      Fifth: Many indicators of the quality of life have improved significantly over the past two decades. Cell phones, which were restricted to the Ba'athist elite, are now everywhere, and the total number of users is roughly equal to the population. The total internet users are now around 10 million.
      Sixth: Life expectancy increased from 67 years in 2002 to about 73 years today.
      Seventh: The number of modern sanitation facilities has increased, which now reaches more than 40 percent of the population, compared to 32 percent before 2003. More than half of the population has access to safe drinking water as well, although this issue still needs to be done. Greater efforts.
      Eighth: The literacy rate at the national level has increased from 74 percent at the turn of the century to 85 percent today.
      The Wall Street Journal report concludes that, however, there is still a long way to go for Iraq to achieve the desired political and economic stability, in light of the popular protests that erupted last year, high indicators of corruption and a decline in freedom of the press.
      The protests began on the first of last October and lasted for several months, during which hundreds of thousands of Iraqis demanded jobs and services and the departure of the ruling elite, which they said were corrupt.  The protests led to the resignation of Prime Minister Adel Abdul Mahdi, who was replaced in May by Mustafa al-Kazemi, the former head of the intelligence service.
      Iraq, which relies on oil exports for most of its revenues, has been suffering from corruption and mismanagement for many years and was ranked 161 out of 168 countries in Transparency International’s annual report on corruption for 2015. Iraq is currently ranked 156 out of 180 countries in the global rankings for freedom. The press, published by Reporters Without Borders.
      ############
      8 indications that Iraq is back on the "right track"    LINK
    • By DinarThug
      CNN. Broadcasting Off Of The Dollar Menu From A Baghdad McDonald’s - Super Size Me !
       
       
      An economist talks about what controls the dollar exchange rate in Iraq
       

       
      Economie 7/20/2020 19:41 441    

      Baghdad today - Baghdad
       
      Economist, Humam Al-Shamaa, on Tuesday (28 July 2020), talked about what controls the dollar exchange rate in Iraq and the effect of internal factors on it.
      Al-Shamaa said, in an interview with (Baghdad Today), that "the exchange rate of the dollar in local markets has nothing to do with the exchange rate of the dollar in global markets towards other currencies."
      He added, "What controls the dollar exchange rate in global markets are expectations, oil prices, gold prices and a relationship with the euro. As for Iraq, the relationship between the dollar and the dinar is controlled by internal factors related to the demand and supply of the dollar." 
      And Al-Shamaa said, "The decrease leads to higher prices, inflation and more problems for the poor classes, because the devaluation of the dinar means an increase in the value of commodities."
      The price of gold reached record levels yesterday, with a new drop in the price of the dollar in the global market at a time when investors rushed to buy it as a safe haven, amid concern about the tension between the United States and China and the rise in the number of cases of Covid-19 again around the world and the lack of progress in Washington on a new package To stimulate the economy. 
      After months of improvement in stock markets, driven by the trillions of dollars of support from governments and central banks, investors are rethinking the long-term economic implications of the emerging corona virus. 
      And at a time when the wide easing measures imposed by the Federal Reserve monetary dollar push the dollar against most of the other currencies, gold rises significantly, reaching a record level of $ 1944.71, which is much higher than the previous record level recorded in 2011 and reached $ 1921.18. 
      The focus is on the next meeting of the Federal Reserve to discuss its policies this week, as some expect that more measures will be imposed to boost the economy (probably negative interest rates), which is expected to increase pressure on the dollar and raise the price of the gold ingot to more than two thousand dollars. 
      There is also concern that recording worse-than-expected results in US gross domestic product for the second quarter of the year will cause major selling to the dollar, and while the weak dollar has been a major driver of the high price of gold, the matter is also driven by the attractiveness of the metal as a haven in times of turmoil, especially in light of the deterioration The relations between the United States and China day after day.
      Gavin Wendt, chief resource analyst at MineLife Consulting, said: “Strong gains cannot be avoided at a time when we are entering a stage similar to the atmosphere that prevailed in the aftermath of the global financial crisis as gold prices rose to record levels as a result of large amounts of Federal Reserve funds being pumped into Financial system, "and the dollar fell again against other currencies, while the euro reached its highest level since September 2018.
      LINK
    • By DinarThug
      CNN. Broadcasting From An Iraqi Border Crossing While A Herd Of Sheep Passes Thru To Iran - But The Guys Counting Them Keep Falling Asleep !
       
      Iraq begins paying its debts to Iran with goods
      07/25 2020 08:29:49 PM

       
      Baghdad / extent
       
       
      The Secretary General of the Iranian-Iraqi Chamber of Commerce Hamid Hosseini announced the establishment of a company in Iraq to settle Baghdad's debts to Tehran, which amount to about five billion dollars, according to a report published by Iranian websites.
      Hosseini told Farda radio that the company, which will work for the Iranian government, will purchase food commodities to pay off the debts. He explained that, based on a mutual agreement between the two countries, last month, Iran will provide the new company with a list of "commodities and raw materials" it needs, and the company will purchase and ship it to Iran. And Iraq owes Iran the money and gas it imports from it. The payment of Iraqi debts comes through goods, not cash, because Iran is subject to US banking sanctions, so Baghdad cannot transfer foreign currencies to it. According to Radio Farda, Iran is able to import goods only from Iraq, also because of the US sanctions. The Governor of the Central Bank of Iran, Abdel Nasser Hamti, announced, last month, from Baghdad, that Iraq had agreed to settle its debts, related to gas and electricity, to Tehran, by providing food and medicine.
      He said that the debt funds will be used, in the Iraqi Bank of TBI, to pay for the "commodities" that will be purchased by the newly established company. Iran's non-oil exports to Iraq, excluding electricity and gas, reached nine billion dollars in 2018, while its total imports from Iraq reached only 59 million dollars. Since the beginning of the Iranian calendar year, on March 21, 2019, Tehran has stopped publishing details of its foreign trade. It is worth noting that Prime Minister Mustafa Al-Kazemi held talks recently with Iranian leaders on his first official visit abroad since he took office in May.
      LINK
    • By DinarThug
      CNN. Broadcasting fundamental changes in the central bank during the coming period !
       
       
      Washington-Baghdad Dialogue: America wants to strictly implement the sanctions list
       
      7/21/2020
       


       
       
      About two weeks before the second session of the strategic dialogue between the United States and Iraq, in which Iraqi Prime Minister Mustafa Al-Kazemi is to participate, an Iraqi official revealed that Washington included a paragraph related to the names of Iraqi, Syrian, Iranian and Lebanese personalities that the US Treasury Department imposed sanctions on in the past two years. The paragraph is related to discussing the seriousness of the Iraqi banks ’commitment to not dealing with these names, as well as discussing some of them escaping sanctions through activities managed by relatives or agents in their favor. The source pointed out that the Al-Kazemi government is in the process of undertaking major reforms in this area, specifically within the Central Bank of Iraq, the body responsible for the matter.
      Al-Kazemi will participate in the second American-Iraqi dialogue session, during an upcoming official visit to Washington at the end of this July, according to what was previously revealed by Foreign Minister Fuad Hussein.
      US officials are convinced of the existence of fraud within Iraq, enabling those involved in the sanctions to continue their commercial and financial activities
      During the past two years, the US Treasury Department has continuously announced the announcement, and through official statements issued by it, on the inclusion of a number of Iraqi personalities and companies on the sanctions list, accompanied by convictions of them, related to what it says are crimes and violations in the field of human rights and financial corruption they committed, And also their cooperation with the Lebanese "Hezbollah" and the Iranian Revolutionary Guards. Among the most prominent of these names are the director of the “Islamic Bank of the Country”, the politician Aras Habib, the governors of Salahuddin and Nineveh, Ahmad al-Jubouri and Nawfal Hammadi al-Akoub, the politician Khamis al-Khanjar, the leader of the militia “Asa’ib” Qais al-Khazali and his brother Laith al-Khazali, and a leader in the “Popular Mobilization” Hussein Faleh Lami. This is in addition to the leader of the "Babylonian" militia, Ryan Al-Kildani, the leader of the "Shabak" militia, Waad al-Qud, and the "al-Nujaba" militia, Akram al-Kaabi.
      According to a senior Iraqi official, there are officials in the US Treasury Department convinced of the existence of fraud within Iraq, which enabled those involved in the sanctions, whether Iraqis, Syrians, Lebanese or Iranians, to continue their commercial and financial activities, and to obtain hard currency, which prompted the Americans to include a full paragraph In the second dialogue session, Baghdad calls for reforms to be made. The source pointed out that American officials accuse the government of Adel Abdul Mahdi of not responding to the sanctions, and of allowing many of those listed on its regulations to withdraw funds or transfer funds or carry out sales and purchases through agents and relatives, and with the knowledge of the Central Bank of Iraq and other local banks.
      The Iraqi official also revealed that the Al-Kazemi government will make additional pledges to tighten commitment to US sanctions, and to carry out reforms within the Central Bank of Iraq, and an investigation will be opened with the competent authorities to find out the real reasons behind the failure to implement decisions in this regard may expose Iraq to sanctions. The source acknowledged that there are political and factional influences (armed factions) linked to Iran on the central bank and on other oversight bodies, and that any commitment to the sanctions is considered by the authorities implementing the pressures as labor in favor of the United States.
      Al-Kazemi’s government will make additional pledges to tighten compliance with sanctions, and to carry out reforms within the central bank
      The source emphasized that for these reasons, Al-Kazemi intends to make fundamental changes in the central bank during the coming period.
      For his part, the former official at the Central Bank of Iraq, Mahmoud Dagher, in connection with the "new Arab", stressed his country's commitment to the American sanctions issued against the personalities and companies, stressing that "it is impossible for Iraq not to implement such decisions issued by the American treasury, nor will it risk Not to implement American decisions, as important. Dagher recalled that the Iraqi government "issued a circular to banks under the names of those who were included in the sanctions list, and transfers from them to them were stopped," stressing his country's commitment "to implement such a decision if it was issued against any party or person."
      The former official in the "Central Bank of Iraq" stressed that his country’s failure to implement the US Treasury Department’s decisions constituted an economic risk to Iraq and the Iraqis, which would stop all financial transfers to Iraq, and for this reason the bank is obliged to implement the sanctions issued against the Iraqi personalities, whatever they may be.

      On the other hand, a member of the Security and Defense Committee in the Iraqi Parliament, on the authority of the “Al-Fath” coalition, Karim Alaiwi, said that “his bloc is awaiting a position on the part of Al-Kazemi’s government regarding the rejection of unilateral sanctions against Iraqi personalities and entities.” It has the intention to hold talks with the American side about it, as it is political sanctions, and is not based on any realistic evidence. Aliwi said in an interview with Al-Arabi Al-Jadeed that the Al-Kazemi government should complete this task by rejecting any kind of sanctions that affect any Iraqi figure who is not convicted by the local judiciary, and working to remove names from any American list.

      But one of the members of the negotiating delegation in the first dialogue session, which was held via a television circle last month between American and Iraqi officials, assured Al-Arabi Al-Jadeed that the files of the second session were not definitively determined, and they may be comprehensive due to Al-Kazemi’s presence in Washington and his supposed meetings with senior administration officials. American, but he made it clear that it is primarily about terrorism and strengthening Iraq’s security and military capabilities, the financial and health crises, electricity and strengthening the rule of law, fighting financial corruption and threatening armed groups linked to Iran, and the American military presence. And he considered that the file of Iraq’s commitment to the sanctions imposed on Iran, and on various personalities and parties inside and outside Iraq, would be within the political file that is under discussion with the prime minister.
      Just deputies
      New Arab
      link
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