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Pompeo Calls His Iraqi Counterpart .. Development Of The Oil Sector And Investment Are The Most Prominent Files !


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CNN. Broadcasting While His Iraqi Counterpart Plans On Returning The Favor - But With A Collect Call !
 

 

Pompeo calls his Iraqi counterpart .. Development of the oil sector and investment are the most prominent files

2020.06.16 - 21:37

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Baghdad - people  
 

Iraqi Foreign Minister Fuad Hussein discussed with his American counterpart Mike Pompeo on Tuesday ways to develop joint cooperation between Iraq and the United States.  

A spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, said in a statement that Nass received a copy of it (June 16, 2020). Investing in all sectors, including: the oil sector, and infrastructure, and urging investors to work in Iraq.  

Foreign Minister Fuad Hussein affirmed that Iraq "seeks to build balanced relations with all countries of the world, and to adopt the principle of non-interference in internal affairs, respect for the sovereignty of Iraq, realization of common interests, and independence of the Iraqi decision."  

The Minister referred to the "expected visit of the Prime Minister to Washington in the event that the health conditions permitted it," stressing "the government's insistence on taking future steps to work and proceeding with the success of its government program."  

Pompeo, for his part, affirmed that "the United States is happy with the initial results of the strategic dialogue, expressing hope that it will continue for the purpose of completing these dialogues."  

He also affirmed "the respect of the American government for the sovereignty of Iraq, its support for the government of Mustafa Al-Kazemi, and the provision of economic support."  

The two sides agreed on "the necessity of encouraging investment in all sectors, including: the oil sector, and infrastructure, and urging investors to work in Iraq."  

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The development of the banking system is capable of promoting economic development


Wednesday, June 17, 2020

 

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Baghdad / Hussein Faleh
 
 
The banking sector is one of the basic economic sectors in all countries of the world because it contributes to the growth and development of economies by financing projects of various specializations, except that in Iraq the banking system suffers from many problems, some of which are organizational, administrative and technical, which led to making most of the private banks have no financial effectiveness In the commercial market. A number of specialists in banking and financial affairs called for the need to support the Iraqi banking system for its contribution to promoting economic development by financing productive projects in the country.

Member of the Board of Directors of the Central Bank, economist Majid Al-Suri, said in a statement to Al-Sabah: “The central bank has had a major role in recent years in developing the work of the banking system, as it began applying all international standards that can be implemented on the banking system in Iraq, especially in What is related to risk, credit, governance and others. "

He added, "The Iraqi economic environment does not allow moderate and comprehensive growth of the Iraqi banking system, pointing out that there are several things that the Central Bank has put in place, including empowerment and localization of salaries, etc., except that the main problem is not with banks, but rather with the government's fiscal policy and the financial corruption in the country."

He explained that the banks are a reflection of the economic situation in Iraq, and since the existing economic situation is the trend towards trade and not towards economic development and local production; Therefore, we see most of the banks' directions towards trade and dealing with merchants and import in particular, not export.

He continued: The obstacles facing the work of private banks in relation to foreign trade in terms of opening credits and dealing with government institutions with them, therefore we see a monopoly in banking in general for government banks that are monopolizing banking business in general and especially the aspect related to government deposits and other government transactions.

He pointed out that trust in private commercial banks, including Islamic ones, is not strong, due to some of the practices that some banks have worked as a result of control by some politicians who have become emergency over the banking business, so banking has interfered with politics to a very large degree.

He added by saying: In addition to that the international confidence in the Iraqi banking work is very weak despite the presence of some international correspondents at some banks in Iraq, indicating that the main reason for this is to address the issue of the central bank and banks and merge them with political issues.
He pointed out that the political polemics related to the work of the central bank and banks led to the lack of confidence of the Iraqi public and international banks in the Iraqi banking system, indicating that the laws of the central bank and banks so far are good, but they have some incomplete deficiencies.

He pointed out that there are violations of the two laws in force, whether on the law of the central bank or banks, stressing that the comprehensive system has not yet been applied between the central bank and banks and every existing bank has an electronic system, but this system has not been linked to the banking system except for some channels and not in terms of oversight.

Al-Suri stressed that control until now from the electronic point of view is weak and that is why the central bank should make great efforts in the matter of linking banks to the electronic system that exists in all respects, especially in terms of budget reports, indicating that the central bank has tried, with the assistance of the World Bank, to find a suitable system for this topic It was applied, but it was not very big effective .

For his part, the expert in banking affairs, Abdul Aziz Hassoun, stressed that the Iraqi banking system needs to be reorganized because the number of banks in Iraq has reached an unreasonable number, indicating that these large numbers of banks do not have sufficient outlets for banking marketing.

Hassoun said in a statement to Al-Sabah: Most of the banks are small and their capital is few and they do not have a presence in the market and cannot do any reasonable activity and contribute to the financial and financial work, calling for reconsidering the large number of Banks.

He pointed out that the authority of the central bank over the work of banks under the current circumstances is very limited, as we see the authority of the central bank being limiting, because it cannot go beyond many things that govern the financial, banking and economic process.

He explained that the existing legal legislation is not actually applied, therefore the banking sector does not need legislation but rather regulatory procedures issued by the central bank as the authority concerned with the matter and its responsibility to regulate the work of the banking system.

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Achievement question


Wednesday, June 17, 2020


Thamer Al-Heims

 

Three births were referred at one time to retirement, so that the retirement age would be 60 years, which raised a legitimate question in which I want that the experiences of these generations have vanished, although the achievement of previous years is not adopted by any generation in or outside the service, in return he will claim those with technical and administrative expertise that they have not had They have the opportunity, and this is true in general and in the case of traditional performance, but in the current stage exceptionally scientifically and the type of regression and poor performance are no longer feasible methods and old systems, it is like the difference between the ceramic workshop and the plant that is managed automatically. Especially since the e-government and transparency project, including all state institutions, according to the specified time limits, as mentioned in the ministerial curriculum, paragraph 7 third, will constitute an irreplaceable road map in light of the current regional, local and international conditions, and so that we are not out of date.  


So the e-government fills the void of lost experience from the three generations, and perhaps consulting them in the transitional phase is a possibility in the event of non-politicization.

But there are those who say that electronic is the best solution. Yes, but not without incubators on its dimensions. It is that any electronic is not a program we buy from a giant company. Spacious, comprehensive, integrated, trans-regionalism, exceptions, wills, and temperaments. In other words, they are uniform laws, with specific reference, scientifically and legally.   

What is new in the latest electronic technology development is the one who possesses a broader information base is the winner, and this is the secret of some companies ’brilliance and the war against them in the West and America; Because those who expand their data are the keys to initiative and success in their hands, and the centralization of China in this direction reminds us of the advantages and advantages of greater production. 

Although China does not keep pace with the Iraq’s westernization and American technology, as it involved many pages of experiences that succeeded in its time, but it does not mean the continuation of its superiority, thus the old experiences are folded without giving up their soul at all levels, i.e. getting out of the dual cycle (either or either), our previous experience Let us not abandon its sincerity and professionalism that has been lost by corruption, but will remain a conscientiousness that guides achievement despite every consideration in the form of consultation, through the Foundation of the Service Council and the Federal Court as the only administrative and legal references for e-government.

Now, after the globalization bubble burst, it has receded with the return of protectionism to the countries that worked to focus it as we see in the trade war with China, and we are the first of others to protect our national product through the head and leader of our production now and for the foreseeable future which is the oil managed by a national oil company.

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Technology, the Corona Crisis, and the Return of the Economy in Iraq

 

Wednesday, June 17, 2020

 

alsabaah-38275.jpg

 

Wang Lee
 
 

In light of the new reality imposed by the emerging crisis of the Coronavirus and the aspirations to restore normalcy as soon as possible, the role of information and communications technology emerges more than ever before as one of the important axes in the context of government efforts aimed at maintaining public health and supporting the paths of continuing work, learning and other matters concerned. By achieving social and economic stability in Iraq and the return to normal within the various fields. 

In this context, the importance of countries' awareness of the vital role that the digital transformation process plays within the business sector and the various services of government agencies in their endeavors to coexist with the new reality and find the means to confront the epidemic and the continuation of the business cycle and fulfill the requirements of the period beyond The virus.


There is no doubt that the impact of the crisis may affect everyone, from health workers to teachers, merchants, industrialists and others. Therefore, it has become necessary for all sectors in Iraq to reconsider how they perform their business and the value that they provide to their clients, according to the requirements of the current stage, the criteria for the success of business continuity and the requirements of the public interest in the near future. And digital platforms come as one of the most important tributaries that contribute effectively to providing the requirements of the current stage, as its role is not limited to enabling the accomplishment of work while maintaining social divergence, but also enables faster and more effective decision-making, and facilitating more quality and competitive services .

Over the past few months, specialists have identified the most important technologies that play an important role in the fight against the emerging corona virus, and the best ways for modern technology solutions to contribute to continuing economic and social activities. For example, modern artificial intelligence technologies support the efforts of scientists and doctors to reach a cure and vaccine for disease, while smart collaboration technologies enable teachers and students around the world to communicate with each other and provide new platforms to keep pace with the economic movement and various areas of communication Social. Advanced cameras and analysis systems enable government agencies to monitor public places and conduct remote tests to preserve the health of citizens and extrapolate and analyze data to find solutions quickly and effectively.

None of these contributions would have been possible without a coherent global ecosystem for information and communication technology, supported by the use of artificial intelligence technologies, cloud computing, and big data. There is no doubt that Iraq has great capabilities in the field of bright scientific and technical minds that can receive control control based on the existing foundations of the information and communication technology infrastructure and the vast future capabilities that modern technologies will provide when available in Iraq, particularly the fifth generation networks that will contribute to Increasing the capacity and capabilities of communication networks and the added value they provide to all other sectors, including providing effective means for the health sector in order to combat the Corona virus and deal with any similar future crisis .

The open ecosystem of information and communications technology is a solid foundation for all other sectors in facing challenges, as each economic sector faces its own challenges that need ad hoc solutions. 
A country or entity cannot create these solutions by working alone, but rather through joint collective action that relies on open cooperation within the framework of building the required ecosystem for information and communication technology from which all axes support the various aspects of the process of social development and economical development

Confronting the virus requires better sharing of experiences, especially in the technological field.
Knowledge sharing contributes to the development of the local talent ecosystem. This is evident in many initiatives, including online education conferences that aim to enrich the current experience and provide more possibilities for continuous learning for students in Iraq in accordance with more advanced and effective methods, and contribute to facilitating the exchange of resources to find the necessary solutions to ensure the continuity and quality of online education in Time for many schools and universities is still closed. The initiatives also aim to empower Iraqi youth with more knowledge and frameworks to cultivate talent and expertise as part of the country's commitment to building local environmental systems for talent in the field of information and communications technology, from which support is provided to develop all other sectors in the future. 
 
An international economist 
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The Iraqi Stock Exchange recorded an increase in its trading session on Wednesday

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17th June, 2020



The Iraqi Stock Exchange closed up 0.90% today, stopping at 427.72 points.

The index recorded the rise of shares of 8 companies, the decrease of shares of two companies, while 11 companies maintained their share prices.

The number of traded shares reached 635,627,669 shares, at a value of 508,380,066 Iraqi dinars, obtained from the conclusion of 223 deals, which included 21 joint stock companies, out of 103 companies registered on the stock exchange. 

Edited by DinarThug
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The head of the Iranian Central Bank visits Iraq

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17th June, 2020
 

A source said early Tuesday that the head of the Iranian Central Bank, Nasser al-Hamati, will visit the Iraqi capital, Baghdad

The source said to Shafaq News, that my mission will arrive tomorrow, Wednesday, to the Iraqi capital, Baghdad, on an official visit during which he will meet the country's officials

No further details were immediately available on my visit schedule

The visit comes at a time when Iran is suffering from a stifling economic crisis due to the US sanctions imposed on Tehran against the background of its nuclear program

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Details .. Iraq and Iran announce a financial agreement and the exchange of basic commodities
 

بالتفاصيل.. العراق وإيران يعلنان اتفاقاً مالياً وتبادل السلع الأساسية              10117.jpg
 

17th June, 2020

 

President of the Central Bank of Iran, Abdel Nasser Hamti, stressed the expansion of monetary and banking cooperation between his country and Iraq, revealing the use of a joint mechanism to accelerate the supply of basic commodities.

Hamti, who arrived in Baghdad this morning, Wednesday, to discuss joint monetary and banking cooperation between the two countries and during his meeting with the Director of the Iraqi Central Bank, Ali Al-Alaq, "We have reached during the previous visits to good and constructive agreements through proposals that have been put forward by both sides, and it was agreed to use the resources we have in Iraq to buy goods that are not part of the economic sanctions, and we also reached a good understanding during our visit." He added, "Currently, the two countries have the desire and desire to implement this agreement quickly."

For his part, the Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, pointed to the understandings that were agreed upon during the past year between the two central banks, which were signed by both sides, saying that "this memorandum of understanding, which relates to financial and banking matters between the two sides and the way to benefit from the sources of the Iranian Central Bank It was discussed in a transparent manner, and today it was agreed to activate the necessary procedures accordingly." The meeting was attended by representatives of the ministries of Industry, Minerals and Trade (silence), and the head of the Iranian National Gas Company in addition to the President of the Iranian Central Bank. It was also agreed between the heads of the Iranian and Iraqi Central Bank during this meeting, on the mechanism for implementing this agreement.

The head of the Iranian Central Bank confirmed that Iran is determined to take advantage of its external sources to import basic commodities into the country and benefit from them, including medicine. "After the agreement that was made today with the President of the Central Bank of Iraq, we will start working with Iraq on this platform from today," he said, who is currently visiting Baghdad, in a press statement after his meeting with Al-Alaq. He added, "The Islamic Republic has good financial resources in Iraq, and it was agreed and the decision was made to import a portion of the basic commodities that we need in our country from this neighboring country."

Hamti pointed out that "an agreement was signed on the mechanism of financial payment last year between Iran and Iraq, and the exploitation of Iranian resources in Iraq was part of this agreement." He stressed that "the Islamic Republic is keen to expand financial and banking relations with Iraq through the Iranian Central Bank and the rest of the banks operating in this country." The head of the Iraqi Central Bank, Ali Al-Alaq, said, "The largest part of these Iranian financial sources that are in Iraq is related to energy (gas and electricity), and therefore, according to the new agreement, these resources will be utilized."

Ali Al-Alaq pointed out that "the meeting today resulted in the signing of the understanding that took place during the past year on the mechanism of financial work between the Iraqi Central Bank and the Iranian, and this agreement was discussed and an agreement was reached on the implementation of parts of it, including the export of basic commodities to Iran."  In response to a question, is it possible that this agreement between the two countries could be affected in the event of an external intervention, he said, "All parties agreed to this automated and financial agreement and it was carried out in complete transparency." Al-Alaq stressed that this agreement took place at an international level and was agreed upon.The head of the Iranian Central Bank, Abdul Nasser Hamti, arrived in Baghdad at the head of a high-level delegation this morning, Wednesday.
 
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So What Did U Expect After U Just Let The Iranians Into Ur Central Bank ? :o 

 

:D  :D  :D 

 

 

Video .. Shocking statement from Al-Kazemi’s advisor: There is only 300 million dollars in the Iraqi state’s treasury


2020-06-17
 
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Yassin Iraq: Baghdad

 

Hisham Dawood, adviser to the Prime Minister, Mustafa Al-Kazemi, said that the new government received from the previous government of Adel Abdul-Mahdi an empty treasury with only $ 300 million in it.

"Adel Abdel Mahdi and his government have left the state treasury in this vacuum, and we are facing a country that needs everything and has a grave global epidemic, and we have many requirements and are fighting a war against terrorism," Dawood said in a recorded tape from a press conference, shared with "Yass Iraq".

video link

 

My discontent

Elites and political experts close to the ruling administration in Iraq commented on the file handing over the previous government of Abdul-Mahdi the treasury of the empty state to Al-Kazemi.

The political analyst, Ihsan al-Shammari, said in a tweet shared with “Yassin Iraq” that “Adel Abdel Mahdi, the accomplished (empty treasury), is the only one who bears what the financial situation has reached at the present time.”

 

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د.احسان الشمري@Ihssan_Shmary
 
 

عادل عبد المهدي صاحب منجز ( الخزينة الخاوية ) وحده من يتحمل ما وصلت إليه الأوضاع المالية في الوقت الحاضر .#العراق

Adel Abdul-Mahdi, the owner of the accomplished (empty treasury) alone, can bear what the financial situation has reached today. # Iraq
 

 

As for the former close associate of the Abdul-Mahdi government and later departed from it, Laith Shbar, in a tweet addressed by Al-Kadhimi, confirmed, “Your predecessor gave you an empty treasury and rewarded him with praise and a huge pension and left him to flee to Erbil instead of saying goodbye to him and his associates because of the crimes he committed and mismanagement For the state .. and the loss of Iraqi money.

 

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Laith Shubbar( الصفحة الرسمية)@LaithShubbar
 

ماعاد ينفع الكلام ولاعادت النصائح مجدية فهؤلاء بلا ذمة ولا ضمير يقولون مالايفعلون ويعدون ولايوفون.. الظلم أصبح لهم عادة والكذب أضحى عندهم شطارة يحافظون على مناصبهم ومغانمهم بالنفاق والدجل والذل والعمالة والمهانة ويستسبعوا علينا بينما هم عبيد لغيرنا أما آن الأوان لأخذ القصاص منهم

June 2020 Speech is not useful and advice is useful again. Those without pardon or conscience say they do not do and prepare and do not meet .. Injustice has become a habit and lying has become a cavity for them, they keep their positions and their gossip with hypocrisy and humiliation and labor and humiliation and they like us while they are slaves to others but it is time to take retribution from them

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Laith Shubbar( الصفحة الرسمية)@LaithShubbar
 

أعطاك سلفك خزينة خاوية فكافأته بالمديح وراتبا تقاعديا ضخما وتركته يهرب الى أربيل بدلا من أن تودعه السجن هو وأعوانه بسبب الجرائم التي ارتكبها.. وسوء إدارته للدولة.. وضياع أموال العراق..

وهرولت أنت وكابينتك ومستشاريك لقطع قوت المتعففين الذين خدموا العراق بأحداق عيونهم حينما كنت

Your predecessor gave you an empty treasury and rewarded him with praise and a huge pensionable salary and let him flee to Erbil instead of saying goodbye to him and his associates in prison because of the crimes he committed .. and his mismanagement of the state .. and the loss of Iraqi money .. and you and your cab and your advisors scrambled to cut off the power of the abusive who served Iraq with the bare eyes when you were 

 

 
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Wednesday, June 17, 2020 

3:59 PM

The financial coffers in Iraq are empty .. And Al-Kazemi entered the "booby-trapped field"

Al-Kazemi
 
A French report revealed that the financial treasures in Iraq are almost empty due to a lack of cash, and there is no way to get more soon, while referring to the smuggled money and proposed solutions to overcome the crisis.

The French Press Agency reported that in the first steps of forced austerity in Iraq, which the authorities soon retracted, the deductions are very large, both for the country with a stagnant economy and for Iraqis, one in five of them living below the poverty line.

He pointed out that Prime Minister Mustafa Al-Kazemi clarified in a long press conference that these are not "salary cuts but rather a lack of liquidity" that must be compensated soon.

The report added that the setback is great because, for the first time, after calls for austerity, the government has taken effective action since it took over the power of nearly a month ago.

For his part, a government official says, "The treasuries are almost empty due to lack of cash, and because there is no way to get more soon, the idea was to reduce all salaries, even the salaries of ministers and representatives."

But it indicates that the corresponding pressure was significant from the people whose quarantine due to the Covid-19 epidemic greatly affected their incomes, and from the deputies and politicians the street demonstrated against them a while ago.

For his part, Al-Kazemi recently announced that only 27 percent of the pensioners' salaries have been deducted, and that the difference will be paid soon.

But the deficit remains, and it is growing every month by more than four billion dollars. Salaries and pensions remain the first item of spending that the government can deduct from it, as it constitutes most of the monthly amount allocated to pay the dues of state employees.

This is considered a large number inherited from the patronage in power that was produced by the fall of the previous regime in 2003. At that time, the number of state employees was less than a million.

Today there are four million employees, and four million other Iraqis also depend on the state that pays them pensions or compensation as former political prisoners, former IDPs, and other compensation funds created after the overthrow of Saddam Hussein.

With one out of every five Iraqis receiving government aid, the bill becomes heavier for the country that depends on paying all its expenditures on oil whose prices collapsed months ago with a severe shortage of demand for it.

But when the authorities paid salaries, exactly after Al-Kazemi's first public visit to the retirement board, collective discontent was in a country that had just emerged from an unprecedented popular uprising against corruption and unemployment.

Al-Kazimi himself played the popular position card, with harsh charges being brought against politicians who have been in power since 2003.

He mentioned in particular the situation of former Iraqi refugees in Rafha, who are compensated by the government with monthly salaries for all family members.

From one generation to the next, the number of these people today is 150,000 beneficiaries of the compensation, which amounts to 40 thousand dinars (approximately $ 33) for each prison day, in addition to a monthly salary of one million and two hundred thousand dinars, although "some of them live abroad and have money" according to Al-Kazemi said.

And the former political prisoners, from the days of the previous regime, whose number exceeds two hundred thousand, receive a monthly salary of one million and two hundred thousand dinars, and they fear that they are the victim of the new austerity policy, which led them to demonstrate this week in Baghdad and the south of the country.

For the Iraqis, there are excess expenses on the part of the officials. For example, a member of parliament receives a salary that ranges between three and six thousand dollars, which is ten times more than the average Iraqi salary, in addition to about 900 dollars instead of security costs.

And if the state wants to provide funds for economic resilience, it must release investment budgets.
But after 2003, the factories that were looted or destroyed in wars, and fields that had been neglected due to rural immigration, stopped working.

As for graduates, they rely on bribes to obtain a government job, without even thinking about the private sector, which is already absent due to obstructions, bureaucracy, the weakness of the banking sector, and the dominance of political parties and armed factions.

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But Don’t Worry - It’s Not All Doom And Gloom ...

 

 

Especially Including Pompeo And The Articles At The Top ...

 

:D  :D  :D 

 

 

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A member of Parliamentary Finance talks about a "major breakthrough" in the Iraq financial crisis


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19:25 - 17/06/2020
 
 

Member of Parliamentary Finance Committee MP Ahmad Mazhar Al-Jubouri confirmed on Wednesday that there is a major breakthrough in the financial crisis in Iraq.

Al-Jubouri told “Information” that “oil prices have started to rise gradually and this is a positive thing that contributes to supporting solutions to the financial crisis in the country in addition to that there is seriousness on the ground in maximizing local revenues, whether from customs or outlets or communications through coordination committees between ministries and institutions Competent and between the central government.”

He added, "The file of communications and dealing with its negative and breaches is very important to achieve significant revenues to the state budget." He pointed out that "reconsidering all measures arrested to maximize state revenues is a major breakthrough that will directly support the file of solving the financial crisis in Iraq and reduces the frameworks of dependence on the sale of Oil as a primary budget resource. ”

The Ministry of Communications had launched a process of trauma in tracking down the smuggling of Internet capacities in the governorates, including Diyala, in the past days as part of its efforts to maximize financial revenues. 

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The World Bank declares its readiness to support the efforts of Iraq in facing the financial crisis and Corona

The World Bank declares its readiness to support the efforts of Iraq in facing the financial crisis and Corona
 
 
06/17/2020 19:20:24
 
 
The World Bank announced its readiness to support the efforts of the Iraqi government in the face of the financial crisis and the Corona pandemic. This came during the Minister of Planning, Khaled Battal Al-Najem, today, Wednesday, meeting with the World Bank and a number of representatives of donor countries through a closed electronic circuit. 

A statement of the ministry, which received {Al Furat News} a copy of it, said that "during the meeting, they discussed ways to take advantage of the outcomes of the Kuwait Donors Conference in 2018 to support the efforts of the Iraqi government to confront the Corona pandemic in light of the financial crisis facing Iraq." The star stressed during the meeting, "the need to cooperate and work quickly to strengthen the capacities of health response in the framework of facing the threat of the virus."

For his part, Saruj Jah, head of the World Bank mission to the Middle East and North Africa, affirmed, "The readiness of the World Bank, to increase the level of joint cooperation with Iraq, and to support the efforts of the Iraqi government in facing the financial crisis and the Corona pandemic, as well as continuing to support reconstruction." "The two sides also affirmed during the meeting the continuation of work on strengthening public financial management, developing digital capabilities and skills in the education sector, emphasizing investment in human capital, developing social protection systems, and increasing job opportunities."

He continued, "The joint discussions also touched on the importance of economic diversification and growth in partnership with the private sector through working to reform trade and investment policies and develop the financial sector." The statement noted, "The two sides also agreement to coordinate and promote the efforts of reconstruction and monitoring and supervision of government projects".

 

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The World Bank confirms its readiness to increase the level of joint cooperation with Iraq
 

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17th June, 2020

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Economist: The government will not need external borrowing after high oil prices

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08:30 - 17/06/2020

 

The economic expert, Ihssan Al-Kinani, stressed that the government will not need external borrowing to finance the budget, pointing out that the current days and their aftermath will witness an increase in oil prices and will compensate for the losses incurred by Iraq due to the decline.

Al-Kanani told Al-Maalouma that the government has a cash reserve in excess of $ 60 billion, and it is possible to borrow from it or invest it properly to compensate for the losses in the oil price drop and increase this reserve. .

He added, "The government no longer needs external borrowing in light of the high oil prices, as non-oil revenues and the correct investment in border ports are enough to solve the financial crisis." 

And that "the coming days will witness an increase in oil prices with the recovery of the Gulf markets and Asian countries, with the decline of Corona in some countries, especially the industrial, and the return of normalcy after stopping for more than three months." The Nusef al-Hikma MP Ali al-Aboudi ended, on Tuesday, 25, Prime Minister Mustafa al-Kazemi al-Da'if because he was not moving to justice the health director of Dhi Qar as a result of the threat he received in his department.

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The Minister of Planning reveals the goals of Iraq Vision 2030

85DcM1-ej4kSPyEJlFxwM4XFxIomwwFy9x8gFeW4

 

17th June, 2020


On Wednesday, Minister of Planning Khaled Battal confirmed work on developing the investment environment by encouraging the national private sector and attracting international companies.

A statement of the Ministry of Planning said in a statement, which received/Mawazine News/ a copy of it, that "Minister Khaled Battal Al-Najm discussed with Princess Mashael Al-Otaibi, President of the Arab Organization for Peace and Development a number of issues of bilateral concern, and it was agreed to continue joint meetings and work on Signing a memorandum of cooperation between the two sides, and supporting the work of the Iraqi-Saudi Joint Friendship Association. Battal appreciated "the distinguished role played by the Arab Peace Organization in promoting bilateral relations between Arab countries in general, and Iraqi-Saudi relations in particular, on the social and economic level."

He added, that the first step to achieving development starts from building the human being, who represents the axis and goal of development, pointing out that Iraq’s vision for sustainable development 2030 focused on this aspect, through adopting human and economic development policies, which are among the basic goals and tasks of the Ministry of Planning, And work to develop the investment environment, by encouraging the national private sector, and attracting international companies to take advantage of great investment opportunities, especially after the security stability achieved throughout Iraq, "expressing" the ministry's readiness to open horizons of cooperation with the Arab Organization for Peace in all areas". 

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Iraq and Saudi Arabia discuss developing economic relations between the two countries


image.jpeg.c0db068cfd318baa52b7e6fc4603faca.jpeg

 

17th June, 2020

Minister of Planning, Khaled Battal Al-Najem, and the head of the Arab Organization for Peace and Development, Mashael Al-Otaibi, discussed, Wednesday, the development of Iraqi-Saudi relations in several areas, particularly the economic field.

The media office of the Minister of Planning said in a statement that Mawazine News received a copy of, "The star received Mashael Al-Otaibi, President of the Arab Organization for Peace and Development, based in New York, and the accompanying delegation." The Minister of Planning valued the "distinguished role played by the Arab Peace Organization in promoting bilateral relations between Arab countries in general, and Iraqi-Saudi relations in particular, on the social and economic level," noting that "the first step to achieving development begins with building a person, who It represents the focus and goal of development."

The Minister added, “Iraq’s vision for sustainable development 2030 focused on this aspect, by adopting human and economic development policies, which are among the primary goals and tasks of the Ministry of Planning, and working to develop the investment environment, by encouraging the national private sector, and attracting international companies To take advantage of the great investment opportunities, especially after the security stability that has been achieved throughout Iraq." He expressed, "The ministry's readiness to open horizons of cooperation with the Arab Peace Organization in all fields."

For her part, Al-Otaibi expressed her "high appreciation for the efforts of the Minister of Planning in supporting the work of civil society organizations and the private sector, which are important pillars for achieving development and peace in the country." According to the statement, "The meeting witnessed discussion and discussion of a number of issues of bilateral concern, agreement to continue joint meetings, and work to sign a memorandum of cooperation between the two sides, and support the work of the joint Iraqi-Saudi Friendship Association."

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Planning reveals work to sign a memorandum of cooperation with Saudi Arabia  LINK

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Yo Snap - Was That Just Sheriff Davis Leading The Kurdish Posse Down From Erbil ? :o 

 

:D  :D  :D 

 

On 6/16/2020 at 9:40 AM, DinarThug said:

Kurdish MP determines the mechanism for linking the salaries of the region to the federal government

1592270431_81662020_5d02f743b-171554.jpg
 

16th June 2020

 

On Tuesday, independent Kurdish lawmaker Rebwar Kareem outlined the mechanism for linking the salaries of the region's employees to the federal government

According to the official agency, Karim said, "Directly linking the salaries of the region's employees to the federal government in Baghdad will be phased, after preparing the organization of the region's employee lists." Actually, in return, the region pays the salaries of retirees and welfare

Karim added that "this process must be done through a banking work in order for aliens to be exposed and their salaries cut to end this suffering, and for the region's employee to receive his due time," noting that "there are supporters of this project from the figures who believe in the real reform of this problem from some powers Political and territorial staff

He continued, "All Kurdish parliamentarians believe in the importance of resolving the problem of salaries between the center and the region through sitting and dialogue," noting that "most hospitals are empty due to the sit-in of health staff in Sulaimaniyah and the strike on the job for not receiving their financial dues. And healthy angels

Karim stressed the "necessity of connecting the Kurdistan Region employees with the central government through important agreements in the framework of oil and other resources

 

 

LINK

Kurdistan Regional Government delegation visits Baghdad next week to continue the talks

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17th June, 2020

The Kurdistan Regional Council of Ministers held, on Wednesday, its regular session headed by Prime Minister Masroor Barzani and with the participation of his deputy, Qubad Talabani, through the video conferencing system (video conference).

A government statement received by Shafaq News said, "At the beginning of the meeting, discussions were held regarding the reorganization of expenditures in a manner consistent with the current situation and the financial capabilities available at the Ministry of Finance and Economy, according to a mechanism through which the rights of all those who receive income from the government (those entitled to salaries) ).

The statement added that the Council of Ministers "stressed the continuation of reducing the salaries of retirees of higher ranks, in light of what was approved in previous meetings, that the meetings continue in this regard until next Sunday."

And the statement added that the council "decided to extend the deadline according to which 15 percent of the debts owed by the companies were deducted from the water and electricity fees, until September 1, after the first period passed in the middle of this month."

The statement continued that the Council of Ministers discussed "the progress of the talks with the federal government, and it was decided that the delegation of the regional government will leave for Baghdad next week with a view to developing mutual understandings agreed upon by the two sides earlier, in order to secure the financial rights and entitlements of the region in exchange for proceeding with its obligations within the framework Iraqi constitution."


###############
 

LINK 

The delegation of the Kurdistan Regional Government will visit Baghdad next week to develop the understandings

The delegation of the Kurdistan Regional Government will visit Baghdad next week to develop the understandings
 
06/17/2020 17:42:39
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Parliamentary Finance: The Kurdish negotiating committees continue their discussions to resolve the differences between Baghdad and Erbil

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09:22 - 17/06/2020
 

Member of the Parliamentary Finance Committee, Jamal Ahmed, affirmed that the Kurdish negotiating committees are still continuing their work with Baghdad to resolve all disputes between the center and the region, pointing out that the government has several options to overcome the current crisis and solve outstanding problems.

Ahmed said in a statement to the "information", that "the financial problems are still pending between Baghdad and Erbil, despite the visits made by the delegations of Kurdistan to Baghdad in order to solve all obstacles and overcome obstacles to overcome the crisis between the two parties."

He added that "the negotiating committees are still practicing their work to end all outstanding problems between Baghdad and Erbil, and it is hoped that the differences will be resolved in the coming days after the visit of the region's delegation to the capital."

And that "the government has several options to overcome the financial crisis that Iraq is going through by relying on a lot of non-oil revenues without compromising the salaries of employees and solving the outstanding problems between the center and the region." 
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A deputy calls Al-Kazemi to launch the international dialogue in Kirkuk to resolve the outstanding crises

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11:57 - 06/17/2020


The representative of Kirkuk Governorate, Ahmed Haider, called on Wednesday, Prime Minister Mustafa Al-Kazemi to resume dialogue inside Kirkuk, indicating that the previous dialogue continued for several months under the auspices of the United Nations and the office of the former president.

Haider said in a statement to the "information", that "the political forces inside Kirkuk governorate have reached positive positive matters, and there are only some contentious paragraphs that were postponed due to the resignation of the previous government."

He added that the continuation of the dialogue in order to solve the political, security and economic problems according to what is imposed by the Iraqi constitution, indicating that “the majority of the components of Kirkuk continue with the dialogue to end the ongoing conflict within the province.”

He pointed out that "there are political and popular calls for Prime Minister Mustafa Al-Kazemi to resume the dialogue under the auspices of the United Nations in order to ensure fair and just elections that guarantee each component its right." 
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3 minutes ago, DinarThug said:

resolved in the coming days

 

Thanks Thugs.  It’s good to hear they are working to resolve their differences.

My only question is this.  Does “in the coming days” rank higher than soon, very soon or even “any day now”.   😝 😂 

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31 minutes ago, Pitcher said:

Thanks Thugs.  It’s good to hear they are working to resolve their differences.

My only question is this.  Does “in the coming days” rank higher than soon, very soon or even “any day now”.   😝 😂 


’Revenge Of The Kurds’ ! :o 

 

 

Coming Soon - To A Theater Near U ! :soon:

 

image.thumb.jpeg.2a37e0dc0de9c301b078d39cf5153f70.jpeg

 

:D  :D  :D 

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On 6/15/2020 at 8:40 PM, DinarThug said:

Trillions of dinars stored in homes instead of banks


Sunday 14 June 2020


alsabaah-38183.jpg

Baghdad / Bashir Khazaal 

 
Most of the merchants, businessmen, industrialists and owners of various projects, do not prefer to deposit their money in banks, and instead store them in homes, because they are more secure than the volatility of administrative decisions 
Or some guardianship measures imposed on some banks that violate the laws and its harm is reflected on depositors to recover their money, which led to a decrease in the amount of money that is traded in the labor market due to the lack of sufficient cash liquidity that enables the state to conduct its business easily and smoothly, regardless of the low prices. 

Oil and the repercussions of dependence on the rentier economy.

Guarantees

The absence of legal guarantees in private and governmental banks to save depositors ’money and retrieve them without administrative complications, and the lack of a good percentage of material profits, which led to the depositors’ symptoms of securing their money in banks and preferring their homes to them or depositing them in external banks.
 
protection                               
Amer Hussain Al-Sarai, a legal expert in commercial companies ’affairs, stated that all merchants and investors are looking for legal guarantees for their money, which amount to millions of dollars, indicating that there is no point in any guarantee of private funds deposited in private and government banks unless it is supported by an official law approved by the Iraqi judiciary in The separation between governmental or private financial institutions and those affected or beneficiaries, and therefore large funds go to external banks or are employed in foreign investments, and this matter led to the Iraqi banks losing huge amounts of money from trading in their coffers or in the labor market. 
The Serail added: The Iraqi government and private banks need administrative and technical modernization operations, expanding their external dealings according to international regulations, and getting rid of all the old primitive methods. The most important thing is to find a modern banking law that gives immunity to the funds of depositors of different categories and segments, and entices depositors with a good interest rate, and this matter will bring Very huge sums of money for Iraqi bank treasures that can move the job market and provide permanent financial liquidity.
 
Customers
Nasser Kazem Al-Shammari, a construction and contracting businessman, spoke about his experience with banks inside Iraq and others abroad, saying:Over a period of more than 20 years ago, I dealt with private and governmental banks inside Iraq and in other countries and found a vast and significant difference in the mechanism of work and methods of dealing with customers, in Iraqi banks there is no legal guarantee that protects the merchant's and investor's money from any abuse or disruption due to some problems that Sub-banks, whether private or governmental, are exposed to them, and their problems are reflected on the customer, and he may not be able to dispose of his money for months until the bank’s problem is solved with legal authorities or central banks, and this matter will not work with traders and businessmen who need permanent cash liquidity to conduct business, pay wages and import Or buying raw materials from home and abroad, and such administrative transactions by Iraqi banks have made most of the local merchants and investors save their money either in homes or in external banks that have strict laws in keeping depositors ’money and with a good interest rate.
 
Interest rate
Al-Shammari added: Most government banks do not deal in current account deposits in dollars, which forces the trader to the dollar is converted into dinars in order to deposit its money in the subsidiary banks of the Rashid and Rafidain Banks, and despite depositing large amounts in the current account, no financial interest rate is given even if that money remains in the bank for months or years, but there is only a simple interest the savings fund that is deposited It contains amounts that are mostly for people with limited income, and they are not entitled to dispose of them until one year after the date of their deposit in the bank.
 
Project
 Financial advisor Walid Idi Abdel Nabi wrote in a study titled (Banking Deposit Insurance Companies and their role in protecting the banking system and deposits): For the urgent need to establish a company that takes on the task of guaranteeing deposits throughout the Iraqi banking system, the Central Bank of Iraq has prepared a draft system for establishing a deposit guarantee company for various purposes Most notably the protection of the banking system, preserving the rights of depositors, and increasing banking awareness by increasing the interaction of the public and companies with the banking system and approved by the Iraqi Council of Ministers and subject to the provisions of this system all Iraqi banks. He added: The primary role of the bank deposit guarantee systems is the confidence of the depositors in the banking system and its ability to protect their deposits, and it is the solid foundation in the presence of a strong and advanced banking system and is able to keep pace with the continuous changes in the banking industry to be able to achieve its economic and social goals effectively and efficiently.
 
Financial system
For its part, the central bank stressed that deposit guarantee companies were found to support system">support efforts in achieving the stability of the financial and banking system, and he explained in a study published on his website that the functions or tasks of deposit guarantee institutions are summarized in three axes represented by solving the problems of financial failure to which banks are exposed, which provides confidence in Founders and depositors, 
Achieving the stability of the financial and banking system, working to protect the rights of depositors, and continued, given the urgent need to establish a deposit guarantee company that takes on the task of ensuring deposits in all of the Iraqi banking system, the central bank prepared a draft system to establish a deposit guarantee company for various purposes, most notably: protecting the banking system, and maintaining The rights of depositors, and increase banking awareness by increasing the public and corporate dealings with the banking system. On January 31, 2018, the Central Bank announced the signing of the Memorandum of Association for the Bank Deposit Guarantee Company with the founding body that included foreign and private banks.
A statement by the bank stated at the time that this company is expected to have a major role in protecting the banking sector, especially the public’s deposits (individuals and companies), which enhances confidence in the banking sector inside Iraq and among bank correspondents outside Iraq, which contributes to attracting more deposits and reusing them in credit And investment is a service to the Iraqi economy.
 
Non-guarantee solutions
 The establishment of the Iraqi Deposit Guarantee Company as a mixed joint stock company, approved by the Registration Department of companies affiliated with the Ministry of Trade in accordance with the provisions of Article 19 of the Companies Law No. 21 of 1997 amended, represents an important step according to a specialist in banking affairs who emphasized that the deposit guarantee represents the most important step on the path to activating financial activity And that this company is working to reinstate confidence between the banking system and the public holding more than 80 percent of the currency is chunky at home instead of the job market, which lacks the funding to move the economy.
LINK

 

1 hour ago, screwball said:

Very excited that’s why I am rushing to buy another 10,000,000 shares


Did U See This Article (Including The Last Paragraph) From Monday Night ...

 

 

(Tuesday AM From Down Under Where U Are) ... :lmao: 

 

 

I Had Started A New Thread Soon After It - In Case U Missed It ! ;) 

 

:D  :D  :D 

 

 

Trillions of dinars stored in homes instead of banks


Sunday 14 June 2020


alsabaah-38183.jpg

Baghdad / Bashir Khazaal 

 
Most of the merchants, businessmen, industrialists and owners of various projects, do not prefer to deposit their money in banks, and instead store them in homes, because they are more secure than the volatility of administrative decisions 
Or some guardianship measures imposed on some banks that violate the laws and its harm is reflected on depositors to recover their money, which led to a decrease in the amount of money that is traded in the labor market due to the lack of sufficient cash liquidity that enables the state to conduct its business easily and smoothly, regardless of the low prices. 

Oil and the repercussions of dependence on the rentier economy.

Guarantees

The absence of legal guarantees in private and governmental banks to save depositors ’money and retrieve them without administrative complications, and the lack of a good percentage of material profits, which led to the depositors’ symptoms of securing their money in banks and preferring their homes to them or depositing them in external banks.
 
protection                               
Amer Hussain Al-Sarai, a legal expert in commercial companies ’affairs, stated that all merchants and investors are looking for legal guarantees for their money, which amount to millions of dollars, indicating that there is no point in any guarantee of private funds deposited in private and government banks unless it is supported by an official law approved by the Iraqi judiciary in The separation between governmental or private financial institutions and those affected or beneficiaries, and therefore large funds go to external banks or are employed in foreign investments, and this matter led to the Iraqi banks losing huge amounts of money from trading in their coffers or in the labor market. 
The Serail added: The Iraqi government and private banks need administrative and technical modernization operations, expanding their external dealings according to international regulations, and getting rid of all the old primitive methods. The most important thing is to find a modern banking law that gives immunity to the funds of depositors of different categories and segments, and entices depositors with a good interest rate, and this matter will bring Very huge sums of money for Iraqi bank treasures that can move the job market and provide permanent financial liquidity.
 
Customers
Nasser Kazem Al-Shammari, a construction and contracting businessman, spoke about his experience with banks inside Iraq and others abroad, saying:Over a period of more than 20 years ago, I dealt with private and governmental banks inside Iraq and in other countries and found a vast and significant difference in the mechanism of work and methods of dealing with customers, in Iraqi banks there is no legal guarantee that protects the merchant's and investor's money from any abuse or disruption due to some problems that Sub-banks, whether private or governmental, are exposed to them, and their problems are reflected on the customer, and he may not be able to dispose of his money for months until the bank’s problem is solved with legal authorities or central banks, and this matter will not work with traders and businessmen who need permanent cash liquidity to conduct business, pay wages and import Or buying raw materials from home and abroad, and such administrative transactions by Iraqi banks have made most of the local merchants and investors save their money either in homes or in external banks that have strict laws in keeping depositors ’money and with a good interest rate.
 
Interest rate
Al-Shammari added: Most government banks do not deal in current account deposits in dollars, which forces the trader to the dollar is converted into dinars in order to deposit its money in the subsidiary banks of the Rashid and Rafidain Banks, and despite depositing large amounts in the current account, no financial interest rate is given even if that money remains in the bank for months or years, but there is only a simple interest the savings fund that is deposited It contains amounts that are mostly for people with limited income, and they are not entitled to dispose of them until one year after the date of their deposit in the bank.
 
Project
 Financial advisor Walid Idi Abdel Nabi wrote in a study titled (Banking Deposit Insurance Companies and their role in protecting the banking system and deposits): For the urgent need to establish a company that takes on the task of guaranteeing deposits throughout the Iraqi banking system, the Central Bank of Iraq has prepared a draft system for establishing a deposit guarantee company for various purposes Most notably the protection of the banking system, preserving the rights of depositors, and increasing banking awareness by increasing the interaction of the public and companies with the banking system and approved by the Iraqi Council of Ministers and subject to the provisions of this system all Iraqi banks. He added: The primary role of the bank deposit guarantee systems is the confidence of the depositors in the banking system and its ability to protect their deposits, and it is the solid foundation in the presence of a strong and advanced banking system and is able to keep pace with the continuous changes in the banking industry to be able to achieve its economic and social goals effectively and efficiently.
 
Financial system
For its part, the central bank stressed that deposit guarantee companies were found to support system">support efforts in achieving the stability of the financial and banking system, and he explained in a study published on his website that the functions or tasks of deposit guarantee institutions are summarized in three axes represented by solving the problems of financial failure to which banks are exposed, which provides confidence in Founders and depositors, 
Achieving the stability of the financial and banking system, working to protect the rights of depositors, and continued, given the urgent need to establish a deposit guarantee company that takes on the task of ensuring deposits in all of the Iraqi banking system, the central bank prepared a draft system to establish a deposit guarantee company for various purposes, most notably: protecting the banking system, and maintaining The rights of depositors, and increase banking awareness by increasing the public and corporate dealings with the banking system. On January 31, 2018, the Central Bank announced the signing of the Memorandum of Association for the Bank Deposit Guarantee Company with the founding body that included foreign and private banks.
A statement by the bank stated at the time that this company is expected to have a major role in protecting the banking sector, especially the public’s deposits (individuals and companies), which enhances confidence in the banking sector inside Iraq and among bank correspondents outside Iraq, which contributes to attracting more deposits and reusing them in credit And investment is a service to the Iraqi economy.
 
Non-guarantee solutions
 The establishment of the Iraqi Deposit Guarantee Company as a mixed joint stock company, approved by the Registration Department of companies affiliated with the Ministry of Trade in accordance with the provisions of Article 19 of the Companies Law No. 21 of 1997 amended, represents an important step according to a specialist in banking affairs who emphasized that the deposit guarantee represents the most important step on the path to activating financial activity And that this company is working to reinstate confidence between the banking system and the public holding more than 80 percent of the currency is chunky at home instead of the job market, which lacks the funding to move the economy.
LINK
 
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      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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