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

[Mary B]

Iraqi lawmaker reveals US support for the restoration of sectarianism and Ba'athists

 Tuesday, June 23, 2020

On Monday, the Iraqi MP for the Alliance of Muhammad al-Baldawi revealed American and foreign support to restore the heads of sectarianism and resurrection to the political scene.

 

The World - Iraq

Al-Baldawi said in a statement to the information site, that "the American axis and those who support it within the political process are trying to return the Ba'ath people to the political scene through suspicious deals," pointing out that "the goal of this is to achieve a soft coup against the political process."

He added, "The project of the return of the Ba'athists is not only America who is working on it, but also the Gulf states," noting that "all these attempts are coming to achieve the ruin in the south."

The deputy revealed the State of Law coalition in the Iraqi parliament, Alia Nassif, about the existence of coordination between the head of the coalition, Nuri al-Maliki, the head of the Alliance of the Hadi al-Amiri, and the head of the Ata Faleh al-Fayyad movement, to take a stand on what happens from the wanted people without legal procedures, accusing one of the heads of the three presidencies of concluding a political deal for Bring them back to political life, according to this website.

 

https://www.alalamtv.net/news/5008106/نائب-عراقي-يكشف-عن-دعم-امريكي-لاعادة-الطائفية-وشخوص-البعث

[Mary B]

The price of the dollar rose yesterday

Tuesday 23, June 2020 

Baghdad / Nina / The exchange rates of the dollar rose today, Tuesday, against the Iraqi dinar in the local market.

The selling price of the dollar on the Kifah Stock Exchange and other exchanges: 124 thousand and 750 dinars per 100 dollars.

As for the purchase price of the dollar, it recorded 123 thousand and 750 dinars per 100 dollars. / Ended 3

https://ninanews.com/Website/News/Details?Key=839715

 

[Mary B]

Tuesday, June 23, 2020  

Prices of buying and selling dollars in Baghdad and the rest of the local stock exchanges

Baghdad / .. The dollar exchange rates rose today against the Iraqi dinar in the local market. The selling price of the dollar on the Kifah Stock Exchange and other exchanges: 124 thousand and 750 dinars per 100 dollars. As for the purchase price of the dollar, it recorded 123 thousand and 750 dinars per 100 dollars.

 

https://aynaliraqnews.com/index.php?aa=news&id22=135425

[Mary B]

 

The Virtual Iraq Finance Conference discusses the challenges of economic advancement

2020-06-23 

 

A two-day virtual financial conference in Iraq was organized via an electronic platform specialized with the participation of economists. They represented the various economies of the world were invited by Frontier Exchange, the organization of this international conference, which stood at the challenges of financial advancement in the financial, industrial, agricultural, and services sectors, and ways to advance in its entirety in cooperation with the global effort Sophisticated.

Governor of the Central Bank of Iraq Ali Al-Alaq He emphasized that "the central bank was prepared in cooperation with National Investment Commission Instructions for entering foreign capital into Iraq For the purposes of investment and put into practice, which contributed to the establishment of some investment projects, "pointing out that" the central bank manages its foreign currency reserves in accordance with international standards issued by International Monetary Fund".

 

He pointed out that "the Central has prepared and presented draft laws, the most important of which are the Islamic Banking Law, the Government Banking Law and the Islamic Sukuk Law, as well as the establishment of the Deposit Insurance Company and another Takaful Insurance Company for the purpose of insurance on the activities of Islamic banks. Exit Iraq From the gray area to the regular follow-up area and led to improved credit rating for Iraq. "

 

A board member was provided Federation of Arab Banks And Chairman of the Board of the International Development Bank Ziad Khalaf During a financial conference Iraq The default, which is organized by Frontier Exchange Company, is a detailed analysis of the reality of the Iraqi economy and ways to advance the reality of the Iraqi economy and bring it to safety.

 

He said during the conference, which witnessed wide international participation via an electronic circuit, that "the world and our Arab region live in an exceptional situation in light of the spread Corona Virus And its wide effects on most of the economic sectors, according to reports The World Bank And International Monetary Fund Who expects the global economy to shrink by 5.2% and the Iraqi economy by 4.7% during the year 2020, expecting that “this contraction will represent the most severe recession since the Second World War, and one of the main reasons for this deflation is the drop in oil prices by about 50% to reach the lowest level in 20 years As a result of the decline in oil production, travel restrictions and the movement of individuals due to stone and closure, in addition to declining interest rates to zero and negative levels in some global central banks, as well as the decline of the main stock indexes to more than 35% and their reflection on the performance of global financial markets. "

 

Decline in oil exports

 

He added, "On the level of Arab economies, the implications can be summarized in the impact of the exports of the Arab countries on the decline in global demand by at least 50 percent, which is responsible for generating about 48 percent of the gross domestic product, as well as the decline in oil and non-oil exports, in particular it will be affected Arab economies are slowing demand by a number of their trading partners, as countries affected byCorona Virus Currently, one of the most important trading partners of Arab countries is that it accommodates 65 percent of Arab exports. "

 

Most of the world experts

 

A representative of the company "Frontier Exchange" Ahmed Al-Jadir Bein "Iraq It represents an important economic center and this is something that all global economies realize, as most of the world's experts affirm that Iraq It can be a tiger economy eighth in the world, and this is not a complicated thing or not achievable in light of the availability of natural and human resources. "

 

Economic sectors

 

Khalaf went back to explain, "The Arab countries were affected by a partial halt to local production in a number of economic sectors, the most important of which are the production services services, especially the tourism, transport and internal and external sectors. These sectors collectively are responsible for generating about 40 percent of the GDP, and certainly the Arab oil exporting countries have been affected. From the decline in foreign exchange receipts in light of a possible decline in export levels as a result of the spread of the virus, and the decline in remittances of workers abroad that contribute to more than 10 percent of the GDP in some of these countries, "pointing out that he expects the number of unemployed to work in the Arab world To 40 million citizens, in addition to the impact of this small and medium-sized pandemic, and thus things combined will necessarily lead to an increase and deepening the budget deficit for most Arab countries. "

 

Digital economy

 

He stressed that "the role of the private and public banking sector comes to coordinate with the national units of partnership between the public and private sectors so that our first goal is to provide support proactively to the economy Iraq Through three main axes represented in the transition to a digital economy with Iraqi leadership in light of the Iraqi government's tendency to play a leading role in finding regional economic integration, which will lead to a reduction in the commercial cost and the creation of new jobs by 2% and an increase in the volume of commodity trade, and this does not It can be achieved only through the establishment of strong infrastructure that includes 4 main networks: e-commerce companies, banking and financing institutions, insurance companies and technology companies.

These four pillars collectively form the basis of the true digital economy. "

 

https://www.alsumaria.tv/news/اقتصاد/349384/مؤتمر-مالية-العراق-الافتراضي-يبحث-تحديات-النهوض-ا

[Mary B]

Al-Handal calls on the government to cooperate with the private sector to advance the Iraqi economy

 

The head of the Iraqi Private Banking Association Wadih al-Handal

The Economy News - Baghdad: The head of the Iraqi Private Banking Association, Wadih Al-Handal, called on the Iraqi government to cooperate with the private sector to develop an appropriate climate that will drive the advancement of the Iraqi economy. The head of the Iraqi Private Banking Association, Wadih Al-Handal, said in his speech at the " IRAQ FINANCE EXPO " conference , which was viewed by the "Economy News", that "the serious repercussions resulting from excessive dependence on oil and the adoption of inflexible economic policies, led Iraq to a tragic situation, so it requires avoiding solutions The patchwork that will lead to dangerous social repercussions leads the country to the unknown. He added that the current government requires it to cooperate with the private sector in creating the appropriate climate to lead the wheel of advancing the Iraqi economy at a faster and more effective pace, explaining that economic reform must be based on the digital economy and activating the private sector’s participation in basic sectors such as food industries, electricity, agriculture, gas and others.

Date added 06/23/2020 http://economy-news.net/content.php?id=20809

[Mary B]

Iraq: We reject foreign interference in Libyan affairs and support the rights of Egypt and Sudan to the waters of the Nile

 23/06/2020

 

 

 

 

Baghdad - Mawazine News
, Iraq stressed on Tuesday its rejection of foreign interference in Libyan internal affairs, while stressing its support for the rights of Egypt and Sudan in the waters of the Nile River.
"The Minister of Foreign Affairs, Fouad Hussein, delivered the speech of Iraq at the emergency meeting of the Arab League Council, to discuss developments in Libya and the crisis of the Renaissance Dam," said Foreign Ministry spokesperson Ahmed al-Sahaf, in a statement received by Mawazine News.
Al-Sahaf added, "Minister Fouad Hussein stressed in his speech the settlement of disputes by peaceful means, and the unification of the word, to prevent external interference in the Arab affairs."
And on Iraq's position on developments in Libya, the Foreign Minister stressed in his speech "
In the light of the Renaissance Dam crisis, the minister said, "Iraq supports the rights of Egypt and Sudan in the waters of the Nile River, and supports their efforts to reach a final agreement for a fair division that guarantees their rights, and calls on the Ethiopian side to understand with the Arab countries concerned to ensure their rights in the waters of the Nile River." End 29 / 6 n

https://www.mawazin.net/Details.aspx?jimare=106596

[Mary B]

The increase in "Bekka" practices against the Iraqi state provides a justification for Turkish operations and Iraqi silence .. Have Baghdad found someone to perform its tasks in its place?

2020-06-23

Yassin Iraq: Baghdad

It appears that the PKK forces are beginning to give "free" justifications to Turkey to continue its operations in northern Iraq, as well as motives that cause Iraq to back down from its rejection of Turkish military operations within its borders.

And by reviewing the violations committed by the Kurdish armed groups in a manner that opposes the Iraqi state’s policy, the reason for the continuation of Turkish operations may be revealed despite the strongly worded statements issued by Iraq, and the lack of seriousness of Iraq in facing these operations and resolutely ending them.

 

Shredding the Iraqi flag

Among these violations, the PKK has torn the Iraqi flag and raised its flag in the Kirkuk governorate.

And the Arab Council in the province of Kirkuk said, yesterday, Monday, that the Kurdistan Workers Party (PKK) tore up the Iraqi flag and raised its flag in Kirkuk, denouncing in a statement issued yesterday, “What the PKK did by assaulting Iraq’s sovereignty, tearing the Iraqi flag up and raising Flag of a non-Iraqi party inside the city of Kirkuk.

He added, "We in the Arab Council are surprised by the negligence and neglect of the Iraqi security authorities in Kirkuk Governorate, for the actions of this foreign party on Iraqi soil," demanding "the federal government to put an end to these informal organizations and hold the parties supporting them accountable."

 

Occupying a police station and threatening its members

After the flag tearing operation, sources in Nineveh Governorate revealed today, Tuesday, that the PKK took control of a police station and expelled the Iraqi police from it.

And "Russia Today" quoted the sources as saying, which was followed by "Iraq", that "the security authorities in Nineveh Governorate opened a police station last Sunday with the return of some families to the Qahtaniyah district of the Sinjar district."

He added, "The PKK, hours after the opening of the center, came to its manager and told him that" I wanted to sleep in the center, then you will be a guest and leave in the morning, "and if you do not want, then leave now."

The source pointed out that "PKK members threatened the director of the center and its members with slaughter unless they left the center," noting that "the police officers left the center yesterday and left it to the PKK members."

 

 

Did Iraq find someone to do its tasks for?

Despite the Iraqi Foreign Ministry summoning the Turkish ambassador in Baghdad for two consecutive times and delivering strong-worded protest notes and threats to resort to the Security Council, the Turkish forces are still continuing their incursion, which gives an impression of Iraq’s tendency to agree to Turkish operations gradually, especially after sufficient “justifications” are available To get rid of the PKK forces, instead of taking Iraq responsible for confronting these forces themselves, which Turkey demands from time to time as a condition to end its military operations inside Iraq.

And the Turkish Ministry of Defense announced two days ago, the deployment of additional units of the Special Forces in Iraq as part of the "Tiger Claw" operation it is launching against Kurdish militants.

The ministry said in a statement issued on Saturday evening, that additional "commando" units were deployed to new locations in northern Iraq after carrying out air operations there.

On Sunday, the Turkish Ministry of Defense, on her account, posted on Twitter a video documenting the Special Forces ’readiness to deploy in Iraq.

https://yesiraq.com/تزايد-ممارسات-البككة-ضد-الدولة-العرا/

 

[Mary B]

Kurdish politicians are demanding that the ports of the region be brought under the control of "Baghdad" .. After assurances of killing hundreds of Turkish soldiers with the latest incursion!

The political scene Tuesday, June 23, 2020 

 

 

Baghdad / Sky Press

Yesterday, the Kurdish lawmaker in the House of Representatives, MP Ala Talabani, called for subjugating all the outlets of the Kurdistan region to the control of the central government in Baghdad.

Talabani said that "the border crossings in the Kurdistan region must be handed over to the central government in Baghdad."

She added, "The Kurdistan region has a failure to deliver oil to the Baghdad government, and it is significantly and significantly delaying it."

She added, "There are sums of money that arrive in the Kurdistan region and are not distributed to employees, including health personnel who are facing the threat of corona at the present time."

Talabani indicated that "a Kurdish delegation will arrive in Baghdad tomorrow or after tomorrow to discuss the outstanding files that come as a continuation of previous meetings that took place with the previous government." .

 

http://www.skypressiq.net/2020/6/23/سياسيون-اكراد-يطالبون-ب-إخضاع-منافذ-الاقليم-تحت-سيطرة-بغداد-بعد-تأكيدات-بمقتل-مئات-الجنود-الاتراك

[Mary B]

Ports announce the continuation of the landing, departure and shipping operations despite the implementation of the ban

 

36 minutes ago

 

 

 

The General Company for Iraqi Ports announced today, Tuesday, the continuation of the docking, departure, shipping and unloading operations in the ports despite the curfew imposed in the province due to the Corona pandemic.

The general manager of the company, Farhan Al-Fartousi, said in a statement that Al-Mirbad received a copy of it, to continue work in the ports and take into account the health conditions that the country is going through, and to intensify efforts and continue work in receiving ships and docking, departure, shipping and unloading operations in all Iraqi ports while adhering to all preventive and health measures issued by Crisis Cell.

He stressed that the flow of ships guarantees price stability in the local markets for food and consumer supplies and the provision of medical materials at the present time, despite the difficulty of movement in light of the exceptional circumstances as one of the essential elements of life.

 

https://www.almirbad.com/detail/55255

[Mary B]

Al-Sudani: More than $ 500 million in taxes on telecom companies

 

Mohammed Shiaa Al-Sudani. "Internet"

The Economy News - Baghdad: The MP, Muhammad Shi'a Al-Sudani, said that the telecom companies sold them more than $ 500 million because they did not pay the tax money. In his speech to the eighth program on Al-Rashid channel, which Al-Iqtisad News watched, Al-Sudani added that there is support from some political entities for communication companies that made them reluctant to pay the tax money to the government.

Number of views 32   Date added: 23/06/2020 http://economy-news.net/content.php?id=20817

[Mary B]

Legal expert: Turkey does not have a legal justification for carrying out military operations inside Iraq

 24/06/2020

 

  

Information / private ..

Legal expert Ali Al-Tamimi stressed that the Turkish side does not have any legal or legal justification for invoking military operations inside Iraq , pointing out that the attacks carried out by it are a violation of international law and Ankara can be prosecuted for that.

Al-Tamimi told Al-Maalouma that "the attacks carried out by Turkey inside Iraq represent a violation of international law in Articles 1, 2 and 3 of the Charter of the United Nations, which obligated all countries to respect the sovereignty of other countries."

He added that "Turkey cannot invoke the agreement with the former regime because this agreement was not renewed after the 2003 year, and a copy of it was not deposited with the United Nations in accordance with Article 102 of the UN Charter."

He pointed out that " Iraq can file a complaint against Turkey according to what we mentioned, and Turkey cannot invoke Article 51 of the Charter, which provides the right to legal defense, but with conditions," noting that "Turkey is obligated to solve the problem with PKK's Labor Party and Ocalan's party leader far from The land of Iraq , as the repetition of these strikes is underestimated by international law and the Charter of the United Nations. 25 n ended

 

https://www.almaalomah.com/2020/06/24/481461/

[Mary B]

Wed, Jun 24, 2020 

 

The foreign minister reveals the date of Al-Kazemi's visit to America

 

 

 

Foreign Minister Fouad Hussein announced the date of Prime Minister Mustafa Al-Kazimi's visit to Washington, indicating that it will take place next July.

A statement issued by the Foreign Minister indicated that "Al-Kazimi's visit next month to the capital, Washington, will come to complete the dialogue."

"The first of my foreign visits will be to Tehran and Riyadh to enhance bilateral relations, and open horizons for cooperation in the interest of common interests," he said in a statement on the minister.

The statement said, "Hussein received the head of the United Nations Assistance Mission for Iraq (UNAMI), Jenin Hennes Blashardt, at the Ministry's headquarters in Baghdad to discuss a number of issues related to international organizations operating in Iraq."

And he added, "

 

https://www.thebaghdadpost.com/ar/Story/197388/وزير-الخارجية-يكشف-عن-موعد-زيارة-الكاظمي-إلى-أمريكا

[Mary B]

The Kurdistan Regional Government delegation meets with Al-Kazemi and continues to hold his meetings

 Kurdistan24, Erbil |

one hour ago

 

 

 

---

Kurdistan Regional Government delegation meets with Al-Kazemi

 

 

Erbil (Kurdistan 24) - The delegation of the Kurdistan Regional Government met with the Iraqi Prime Minister, Mustafa Al-Kazemi, as his meetings continue in a new round of talks in an effort to solve the outstanding problems between the two parties.

On Tuesday, the negotiating delegation for the Kurdistan Regional Government, headed by Qubad Talabani, met with Al-Kazemi and a prominent delegation from the Baghdad government.

During the meeting, extensive discussion took place on the options of the two parties to reach an agreement.

The delegation of the region continues to meet today and in the coming days with Iraqi politicians.

A high-ranking delegation from the Kurdistan government headed by Deputy Prime Minister Qubad Talabani arrived in Baghdad on Tuesday.

This is the fourth visit by the Kurdish delegation to the Iraqi capital since the formation of the ninth ministerial cabinet in the Kurdistan Region, headed by Masroor Barzani last summer.

The high-ranking government delegation consisted of Finance and Economy Ministers Awat Sheikh Janab and Electricity Kamal Muhammad Salih and Planning Dara Rashid, in addition to the Territory Minister Khaled Shawani, Chief of the Cabinet Office Omid Sabah and Cabinet Secretary Amanj Rahim.

In the previous talks, the two sides reached common understandings on a range of contentious issues, including the region's share of the budget and the oil file.

The day before the visit, the Prime Minister of the region, Masroor Barzani, said that his government is ready to conclude a comprehensive and radical agreement with Baghdad that guarantees the rights of all.

He also said that the territorial government is ready to fulfill its constitutional obligations in exchange for guaranteeing the financial dues guaranteed by the constitution itself to the region.

Two days before the delegation's visit, the President of the Kurdistan Region, Nechirvan Barzani, held a series of meetings with senior officials of the federal government.

The meetings focused on the financial crisis and the consequences of the pandemic, in addition to outstanding problems with the federal government and economic, security and other issues.

Sewar Ahmed

 

https://www.kurdistan24.net/ar/news/726c19c1-2f13-4996-9171-541fb03cdf4b

[Mary B]

Parliamentary finance objects to the borrowing law: reform first

24/06/2020

 

  

 

The information / Baghdad ..

Member of the Parliamentary Finance Committee Jamal Kujer confirmed on Wednesday that Parliament will vote on the borrowing bill during today's session despite the committee's objection to it.

"The committee objected to two reasons, the first of which is the government resorting to borrowing without reform and the reform is supposed to come first, and if it does not achieve what we are going to borrow, the second reason relates to the ceiling of borrowing set by the committee," Cougar said in a statement reported by the official Al-Sabah newspaper. Finance is 5 billion and 15 trillion, while the government is demanding more money.

He added that "the committee refuses to borrow to secure salaries only, as it is an operational matter which means that the weight of the next year's budget in 2021 and the budget that follows is around 20 billion dollars without any financial return." The real thing is that if the government does not find money, it will have to reform, but if the money is there, no reforms will be made. "

"The committee allowed the government to borrow to secure these two months only in order to reap the fruits of its reforms, which must begin from now," he said, noting that "the salaries will be distributed on time and there is no truth to what is rumored to be distributed every 45 days." Ended / 25

 

https://www.almaalomah.com/2020/06/24/481467/

[Mary B]

 

Wednesday, June 24, 2020 |

|

Parliament votes on an internal and external borrowing bill today

Baghdad / .. Member of the Economic Committee Nada Shaker Jawdat confirmed that the parliament session that will be held today is devoted to voting on the draft borrowing law. Jawdat said, "Today's session is devoted to voting on the draft of the internal and external borrowing law, indicating its objection to the law because there are alternatives through which the government can maximize budget revenues." Jawdat explained that Iraq borrowed about $ 26 billion, which resulted in financial consequences and benefits that increase with the passage of days, warning From that the vote on the project will mortgage the country to the conditions and benefits of borrowing and will burden the government and future generations with heavy burdens. ”Jawdat added that“ the country has many resources other than oil that can be invested to address the economic crisis without going to borrow as an accessible solution, indicating that the benefits obtained from borrowing are not commensurate with The huge economic problems and burdens he will cause. " Jawdat suggested putting three plans to cross the economic crisis, the first of which is short and fast by reducing corruption in state institutions, the first of which are border ports and ports, the collection of revenues for the state, and control of the currency auction because it is a waste of the country's wealth and hard currency. She pointed out that it is important to collect the huge revenues of the state’s real estate in addition to controlling the region’s outlets, noting that two years ago the region did not pay the amounts of its oil exports and the federal government pays the salaries of the employees of the Kurdistan region and it is better to let the region address its problems without the state’s interference, wondering where the network revenue is Communications that represent permanent oil, and the budget can be fed from them, as is the case with tax revenues?

 

https://aynaliraqnews.com/index.php?aa=news&id22=135463

[Mary B]

Reassuring employee statement from the Finance Committee: the borrowing law will pass ... and salaries on time

 

2020.06.24 

 

Baghdad - people  

Member of Parliament Finance Committee Jamal Kujer, Wednesday, suggested that parliament would vote on the borrowing bill during today's session despite the committee’s objection.  

Cougar said in a statement to the official newspaper and his follower, "Nass" (June 24, 2020), "The committee objected to two reasons, the first of which is the government resorting to borrowing without reform and the reform is supposed to come first. Finance is 5 billion and 15 trillion while the government is demanding more money. "  

Cougar added, "The committee refuses to borrow to secure salaries only, as it is an operational matter which means that the weight of the next year’s budget in 2021 and the budget that follows is about 20 billion dollars without any financial return." On the real reform, meaning that if the government does not find money, it will be forced to reform, but if the money is there, no reforms will be made. "  

"The committee allowed the government to borrow to secure the salaries of these two months only in order to reap the fruits of its reforms, which must begin from now," he said, noting that "the salaries will be distributed on time and there is no truth to what is rumored to be distributed every 45 days." 

 

https://www.nasnews.com/view.php?cat=33865

[Mary B]

In 5 steps, Al-Kazemi's advisor reveals the government's efforts to increase budget revenues

 06/29/2020

 

 

 

 

Baghdad - Mawazine News
, the economic advisor to the Prime Minister, Hisham Dawood, revealed on Monday the government's efforts to increase the revenues of the public budget, while stressing that the government is serious about fighting corruption with regard to sovereign outlets.
Dawood said, "The government is looking for more revenue for the state budget," pointing out that "border crossings are one of these revenues, in addition to relying on the internal product without accepting only import."
He added, "Combating corruption in all its forms in state institutions, rationalizing exchange and government spending and fighting waste, are also other outlets for increasing budget revenues."
He stressed, "Any country that wants to respect its prestige and sovereignty must control its borders," noting that "the issue of ports is not convenient for the government and the prime minister, and the rumors here and there that the anti-terror apparatus will interfere here and there are incorrect."
He explained, "The real and correct opinion is that the law should take its place and place with regard to airports and border crossings," stressing that "these matters and sovereign files cannot be left by a self-respecting country that leaves and closes the eyes and sees nothing about it."
He continued: "From here, it is natural for the future government of Prime Minister Mustafa Al-Kazimi to move and act in this direction," stressing that "the government is serious about fighting corruption with regard to sovereign outlets."

https://www.mawazin.net/Details.aspx?jimare=107578

[Mary B]

Reuters: The 9% that Iraq has cut from its oil production is insufficient

 

 

 

Digital Media NRT

Iraq’s oil exports fell about nine percent, equivalent to 310,000 barrels per day, in June, indicating that the second largest producer in OPEC and by 60 percent of its pledges in the OPEC-led supply-cutting agreement.

And concluded, "Petro-Logistics" to track the tankers "Refinitive Icon" and sources in the sector that the exports of southern Iraq in the first 28 days of June amounted to an average of 2.9 million barrels per day. This is 200,000 bpd less than the official southern exports figures for May .

"This is the lowest level for Basra’s exports in five years ... but Iraq still needs to cut another 300,000 bpd to achieve full compliance," said Petro-Logistics, chief executive of Petro-Logistics.

The Organization of Petroleum Exporting Countries and its allies, within the framework of what is known as the OPEC + group, began an unprecedented agreement to cut supplies in May to support oil prices that have tumbled due to the Corona virus crisis. Under the agreement, Iraq should cut 1.06 million barrels per day .

June's numbers indicate that Iraq is making progress, but it has not fully fulfilled its pledge. Iraq told OPEC + that it would cut production further in the coming months to compensate for exceeding its production quota in May and June, according to Reuters.

 

https://www.nrttv.com/Ar/News.aspx?id=28378&MapID=5

[Mary B]

 

Parliamentary economy reveals the interest rate for foreign loan

 

Monday, June 29, 2020

The Parliamentary Economy and Investment Committee revealed, on Monday, the interest rate that will be imposed on external loans to finance the federal budget .

Committee member Ibrahim Charter said that "the interest rate will be less than 1% for external loans because the country is unable to pay a high fouad due to the collapse of the Iraqi economy in the shadow of the Corona pandemic", pointing out that "loan funds have not been secured yet and need time to discuss with a fund International Monetary . ”

She added that "the government is obligated to support the local industries and the private sector to maintain the hard currency inside Iraq and avoid the collapse of the currency", indicating that "external borrowing is an incorrect solution, except that the government is obligated to it because of the financial situation it is currently undergoing ."

 

https://aynaliraqnews.com/index.php?aa=news&id22=135670

[Mary B]

Deputy: The government has a number of urgent measures to boost the oil balance and secure salaries

06/29/2020

 

 

 

 

Baghdad - Mawazine News
, a member of the independent parliament, Muhammad Shi'a Al-Sudani, confirmed on Monday that the government faces it in light of the challenges facing the country, among other urgent measures to boost the oil balance and secure salaries.
Al-Sudani said, “In light of the challenges facing the country, the government has a set of urgent measures to boost the oil balance, which enables the government to fulfill its obligations, especially employees, retirees, social welfare, treatment of the ration card and the crisis cell benefits in relation to confronting the Corona virus.”
He added, "By not raising the price of oil derivatives and the extracted crude oil that is given to distribution companies and refineries ending in the oil derivatives, which provides large amounts of money that went to the Ministry of Oil, whether in the form of distributing profits to employees or undertaking projects of social benefit, and in light of financial conditions The current one must invest this money, which amounts to 8 trillion dinars, in the case of controlling oil revenues by setting 10 percent of the costs of extraction and 8 dollars for liquidation and up to 5 percent for distribution with the giving of incentives. "
He continued: "

 

https://www.mawazin.net/Details.aspx?jimare=107580