Al-Kadhimi reveals the details of the "white paper"

[NoviceInvestor]

2 hours ago, Jaygo said:

Don’t get too excited. This IS Iraq. 

Never truer words written.. How many years have they been spruiking the Oil and Gas Law .. I think I’ll be ashes long before Iraq finally gets their Act together. 

🙏🙏🙏

Edited June 23, 2020 by NoviceInvestor

[Ziggy]

[screwball]

this is getting real exiting.....

[DinarThug]

29 minutes ago, screwball said:

this is getting real exiting.....

Wtf - ‘Exiting’ Or ‘Exciting’ ?  

 

 

Either Way, We’re All Ready To ‘Exit’ This Ride - But Hopefully With A ‘Happy Finish’ ...
 

     

[DinarThug]

Parliamentary support for the Prime Minister's economic and reform steps

 

Tuesday 23 June 2020

 

Baghdad / Muhannad Abdul-Wahab

 

 

Members of the House of Representatives confirmed their support for the reform steps of Prime Minister Mustafa Al-Kazemi, by seeking to establish an investment fund for future generations, stating that “the Prime Minister’s reform steps are moving in the right direction, the most important of which is the transfer of oil revenues to development projects.”

Member of Parliamentary Committee for Economy and Investment Nada Shaker Jawdat told: "Al-Sabah": "Iraq needs to activate non-oil imports and rely on them in proportions commensurate with the size of its investment budget," stating that "the idea of establishing an investment fund for future generations; It will enhance citizens' confidence in the state and send a message of reassurance to future generations and achieving social justice, and it is possible to achieve work on this project, because Iraq has a lot of imports in various fields and it is possible to do a lot to invest it.

The youth pointed out that "the prime minister's insistence on carrying out reforms is important and sends an important message that the country is developing, and therefore everyone should support the prime minister's reform steps, especially in supporting the Iraqi economy."

He pointed out that "one of the most important reform measures is to activate the work with non-oil resources, including border crossings, and strategic planning for the establishment of large factories through investment to employ manpower and eliminate unemployment in the agricultural and industrial sector, which is one of the most important sectors that can generate resources for the treasury."
link

[screwball]

8 minutes ago, DinarThug said:

Wtf - ‘Exiting’ Or ‘Exciting’ ?  

 

 

Either Way, We’re All Ready To ‘Exit’ This Ride - But Hopefully With A ‘Happy Finish’ ...
 

     

Exciting 

[DinarThug]

15 minutes ago, screwball said:

Exciting 

Lol ! It’s All Good - And Ur Always A Great Sport About It ‘Screwball’ !  

 

 

But Sometimes I Just Like Goofin’ About Ur ‘Down Under’ Accent ...

 

 

Especially Whenever U Call Somebody (Who Always Deserves It) A ‘Flog’...

 

     
 

Edited June 23, 2020 by DinarThug

[OfCamelot]

Iraq has just one avenue of redemption despite all the plans being floated.  And that is oil. Its their only redeeming factor to become fiscally responsible.  Anybody know the price of crude today?

[DinarThug]

5 minutes ago, OfCamelot said:

Anybody know the price of crude today?

The Clown Knows Everything !  

 

 

Except Maybe The ‘Recipe’ On How To Make Toast ...

 

     

 

 

LINK

Oil is falling and demand fears overshadow supply tightness

 

22nd June, 2020
 

Oil prices fell on Monday as concerns about a recovery in fuel demand stalled as Coronavirus infections increased worldwide, overshadowing supply cuts from two major producers

And Brent crude hit 11 cents, or 0.3 percent, to 42.03 dollars by 0505 GMT, while the US crude recorded 39.69 dollars per barrel, losing 14 cents, or 0.4 percent. The two contracts rose nearly nine percent last week

In Canada and the United States, the number of oil and gas rigs operating fell to a record last week even as high oil prices encouraged some producers to resume drilling

The OPEC + group, which includes OPEC and its allies, including Russia, has not decided to extend production cuts of 9.7 million barrels per day for the fourth month in August

Iraq and Kazakhstan pledged to improve compliance with the cuts during an OPEC + committee meeting on Thursday

Oil prices were supported by a recovery in global fuel demand, as countries around the world resumed economic activity. Oil had fallen sharply in April and May during the interruption of activities due to the Corona virus but the World Health Organization announced a record jump in injuries worldwide, adding that the largest increase was recorded in North and South America

[DinarThug]

LINK

Parliamentary Finance stresses the need to complete the vote on internal borrowing in tomorrow's session

 

 

 

08:30 - 23/06/2020

 

The Parliamentary Finance Committee stressed the need to vote on internal borrowing in tomorrow's Wednesday session, pointing out that borrowing would solve many financial problems and crises, especially those related to employee salaries.

Member of the Committee Haneen Al-Qaddu said in a statement to "Information", that "the Finance Committee, after discussion with the Minister of Finance, there is a very urgent need to obtain the internal loan."

He added that "tomorrow's session tomorrow, Wednesday, and if Parliament achieves the quorum, it will witness the legislation of the borrowing law in order to cover salaries for the current month for employees, retirees and social welfare."

And that "the internal loan can be obtained easily and easily through banks inside Iraq and the central bank and sales bonds, and therefore Parliament must meet tomorrow and vote on the law."

[DinarThug]

11 hours ago, OfCamelot said:

Anybody know the price of crude today?

Wtf ? Is Today Deja Vuesday - Or Did Somebody Just Ask Me That ?  

 

     

 

 

LINK

Oil prices are stable after Navarro retreated from comments
that raised market concern

 

23rd June, 2020
 

Oil prices stabilized on Tuesday, after a volatile session due to a state of confusion over the fate of the trade agreement between the United States and China

The markets were dismayed by surprising comments by White House trade adviser Peter Navarro saying that the hard-won agreement was “over” but assurances from US President Donald Trump later that the deal was still in place and the tense nerves calm down

By 0545 GMT, Brent crude, the global benchmark, fell 26 cents, or 0.6 percent, to $ 42.82 a barrel, after falling earlier in the session to a low of $ 42.21 a barrel. US crude fell 38 cents, or 0.9 percent, to $ 40.35 a barrel, after falling to the low of $ 39.76

Relations between the United States and China are at their lowest levels in years since the Coronavirus pandemic, which began in China, hit the United States hard. President Trump and his administration have repeatedly accused Beijing of lack of transparency about the outbreak

Prices fell suddenly after Navarro told Fox News in an interview that the trade agreement with China was "finished", and partly linked the collapse to Beijing's earlier alarm sounding the outbreak of the Corona virus but he later issued a statement saying that he was “talking about a lack of confidence” in the Chinese administration, that the statements “were sharply extracted from their context” and that the trade agreement was still in place

Prices rose earlier in the session, and with the reopening of economic activities in some US states and countries around the world after public isolation measures linked to the Corona virus, the bullish trend was boosted by the return of fuel demand. In New York, the streets were crowded with cars, as the most affected US cities exited more than 100 days of general isolation. Tensions in the Middle East have also provided some support to oil prices

Saudi television reported that the Saudi-led coalition in Yemen said early on Tuesday that it had intercepted three ballistic missiles fired by the Houthi group towards Najran and Jizan

Meanwhile, on the supply side, US and Canadian energy companies have cut the number of operating oil drilling rigs to a record low

Bank of America Global Research raised its forecast for oil prices for the current year, expecting Brent to average $ 43.70 a barrel in 2020, up from a previous estimate of $ 37

[horsesoldier]

Let’s bypass the steps and go straight to GREAT BIG FRACKING LEAPS !!!!!

[siberian_shaddow]

Dont get to excited, this is Iraq

 Reminds me of big nose betty the wretched wh..e Whose nose was so big you couldn't stop staring at it, but it made you forget about the huge hump on her back 

Edited June 23, 2020 by siberian_shaddow

[DinarThug]

LINK

Parliament's first comment on the Finance Minister’s comments on austerity: start with reforms first

 

 

13:59 - 23/06/2020

The Parliamentary Economic Committee criticized the Parliamentary Committee on Economy and Investment, on Tuesday, inviting the Minister of Finance Ali Allawi to take a policy of austerity for a period of two years, stating that the government should start with financial and administrative reforms first to be visible to all.

Committee member Nada Shaker Jawdat said in a statement to “Information”, that “the meeting that Prime Minister Mustafa Al-Kazemi held yesterday with the Finance Committee did not address the issue of resorting to austerity policy”, noting that “what the Minister of Finance announced regarding thinking of adopting austerity policy for a period of time it is not true for the first two years, and the first of it, and the government collectively, to carry out financial and administrative reforms first, and they will be able to get out of the financial crisis.

Jawdat pointed out that "the expenditures of the three presidencies should be reduced significantly and stop the extravagance in these presidencies, which will provide tremendous funds to the treasury through strict measures and steps, as well as full control of border crossing resources and receipt of oil money from the region."

She stressed the necessity of "controlling the currency auction and other resources such as collecting government taxes that will generate significant funds for the state if it prevents the corrupt from continuing to dominate it", explaining that "the government should follow up and recover all the looted funds and put them in the treasury of future generations."

[DinarThug]

LINK

A parliamentary committee intends to amend the investment law

 

 

11:34 - 23/06/2020

Member of Parliamentary Economy and Investment Committee Mayada Najjar revealed on Tuesday that there is an intention in her committee to amend the investment law to encourage foreign and domestic investors to invest in Iraq.

"The current investment law repels the investor, as well as the killer routine in promoting investment transactions," Najjar told Al-Maalouma.

She added that her committee "is determined during the coming sessions to amend the investment law to encourage investors coming to Iraq."

She pointed out that "there are thousands of Iraqi businessmen and investors outside the country who fled due to red tape and corruption," stressing that "it seeks to give concessions to investors in the new law and encourage them to invest inside their country." 

[DinarThug]

LINK

Arab Monetary Fund releases "General Guidelines for Central Banks to deal with the implications of natural disasters and climate changes on Banking System and Financial Stability"

 

22-06-2020

 

The Guiding Principles include aspects related to financial supervision and financial stability:

Central Banks to develop a comprehensive natural disaster management and governance framework

To develop a strategic partnership between the Central Bank and the private sector engaged in the environment and natural disasters era

To build Operational Continuity Plans within the basic central systems

To prepare stress tests that include potential impact of natural disasters and climate changes on the banking sector

To assess and analyze the impact of the transition from highly carbonized products towards low carbonized products

 To monitor the systemic risks arising from climate change, and assess their sectoral impact

In the Framework of the AMF mandate to offer the support to its member states in the field of economic, Financial and monetary reforms promoting financial stability in the Arab region, the AMF has issued today “General Guidelines for Central Banks to deal with the implications of natural disasters and climate changes on banking system and financial stability”.

The guiding principles include a set of recommendations related to the central bank policy to strengthening the system of natural disasters and climate change management. The guiding principles confirm the importance for central bank to adopt a comprehensive risk management policy that includes implications of climate change and natural disasters and how to deal with them. In addition Central Banks to constitute an ad-hoc committee to manage natural disasters (or adding catastrophe management to the framework of the committee of crisis management) as well as defining its missions and responsibilities which include, among others, setting up recovery plans to address the effects of climate change and natural disasters, recover from their effects and return to work Normally.

Moreover, the guiding principles emphasize the need to set a charter of cooperation that organizes coordination and exchange of information between central bank and other entities such as environment and natural disasters related research centers. This cooperation should be framed in a strategic partnership enabling central bank to get from these entities and research centers their expectations about the possibility of getting or recurring natural disasters in all its forms to be better prepared by the central bank to oversee the policies that deal with the results of those disasters on the financial and economic systems.  

The principles recommend also the importance for central banks to set a plan to ensure continuity of activities within its basic central systems such as the RTGS and SWIFT, systems of investment portfolio management, Debt issuances,  foreign currency reserves, open market operations and keep it updated on regular basis. In addition, the plan should define and assess risks that payments systems may be exposed to during natural disasters, while taking the necessary measures to confront and deal with them, in a manner that preserves the operations and activities of the central bank and the banking sector to fulfill their domestic and international obligations.

On the other hand, the guiding principles emphasize the necessity for the Central Bank to develop set of instructions for the financial sector that organize the required measures and preparations, including the minimum required by the financial sector in relation to dealing with natural disasters.

In this context, the principles include also the need for the central bank and the financial sector to pay attention to developing stressful tests that include progressive severity hypotheses, including the potential impact of natural disasters and climate changes on the banking and insurance sectors.

Furthermore, the principles stress the importance of assessing and analyzing the potential “transition risks” resulting from the loss of investments in value as a result of combating climate change or shifting the priorities of consumers and investors to environmentally friendly products and technologies, with the call for including stress tests with hypotheses regarding the risks of transformation. The principles also indicate the importance of assessing and analyzing the impact of the transition from carbon-intensive products / services to low-carbon products / services, and the impact of that on the respective sectors, and adopting policies to assess and address the negative impacts on sectors that may be affected by this transformation.

The principles also touch on many aspects of issues related to the consequences of natural disasters and climate changes such as tasks of managing financial stability in the central bank, and the responsibility to monitor and evaluate systemic risks arising from climate change, and assess its impact on a number of sectors such as individuals, companies, real estate, industry, trading. The principles also call for the banking supervision department at the central bank, to assess the readiness plans and preparations of banks to face any potential climate event. The same applies to the Insurance Supervision Department regarding insurance companies, as well as the request of the external auditor to assess this readiness in his reports.

In this occasion, H.E Dr. Abdulrahman Al Hamidy, Director General Chairman of the Board of the AMF expressed his pleasure for the issuance of “General Guidelines for Central Banks to deal with the implications of natural disasters and climate changes on banking system and financial stability”. The issuance of these principles come to confirm that financial stability in the Arab countries is a must priority for Arab central banks and monetary authorities, while recognizing that financial stability is closely linked to economic and social stability in the countries. H.E reiterated his warm wishes to protect our Arab countries and all countries of the world from natural disasters.

To access the “General Guidelines for Central Banks to deal with the implications of natural disasters and climate changes on banking system and financial stability” Kindly visit AMF website on the following link:

https://www.amf.org.ae/en/papers/amf-climate-guidance-central-banks

[dinarham]

  Don't forget that Iraq has a shite ton of gold . They rank # 36 in gold reserves in a 176 country world . the USA ranks #1 , Mexico #30 .  Iraq is very rich in other ,sulpher for instance . Iraq will be sitting pretty when the gold standard kicks in . and so will we ! .

[DinarThug]

4 minutes ago, DinarThug said:

Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions

06/23/2020 08:24:25

 

Baghdad / extent

The Parliamentary Economic and Investment Committee believes that the "white" reform paper announced by Prime Minister Mustafa Al-Kazemi is "positive".

She said it would be a road map to control the management of border ports and ports, tackle currency auction corruption and stimulate the private sector.

And the parliament required the government to present the economic reform law within a period of sixty days in exchange for its approval to pass the domestic and foreign borrowing law to fill the fiscal deficit for the year 2020 before the end of this month.
And the Al-Kazemi government was forced on the eleventh of last May to send a draft of the internal and external borrowing law to the House of Representatives after the decline in oil prices in global markets in order to be able to secure the salaries of workers in the state for the remaining five months of the fiscal year. Nada Shaker Jawdat, member of the Economic Committee in the House of Representatives told (Al-Mada) that "the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system," stressing that "the paper is still under study and research, and the government has not finished preparing it yet." ". 

The conditions of the financial crisis, the collapse of oil prices in the global markets, and the repercussions of the Corona virus pandemic crisis prompted Mustafa Al-Kazimi's government to review the financial policy in Iraq in order to overcome the financial distress that threatens the Iraqi economy.

Jawdat expects that "the economic white paper will consist of reform packages launched and implemented in the form of three phases; the first is short-term and is the control of the state on border ports and ports, tackling corruption in the currency auction, smuggling hard currency, reducing the salaries of the three presidencies, and solving the problem of state real estate."

And she adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects." 

The Prime Minister, Mustafa Al-Kazemi, confirmed the day before yesterday, that his government prepared a white paper for the expected reforms, and took preliminary recommendations that are being discussed before moving forward with them, pointing out the "need for complementarity between the government and the parliament to support system" rel="">support these reforms."

A statement by Al-Kazemi’s office stated that the Prime Minister held a meeting with the Chairman and members of the Parliamentary Committee on Economy and Investment, during which the white paper prepared by the Council of Ministers was discussed, and includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

The statement added that "Al-Kazemi listened to the proposals and opinions of the members of the Parliamentary Committee, the vision of the committee regarding the proposed solutions, and the obstacles facing the process of advancing the Iraqi economy and activating the various sectors," stressing the importance of witnessing "the current stage of further cooperation between the executive and legislative authorities, leading to a service Citizen and achieve the public interest of the country, and overcome the challenges it faces. " In turn, Yahya Al-Aythawi, another member of the Parliamentary Committee on Economy and Investment, said, "Our meeting with the Prime Minister focused on how to advance the Iraqi economy, revitalize the private sector movement, build factories, and activate investment," adding that "the meeting touched on the possibility of implementing the Grand Faw port project ".

Al-Ithawi states in a statement to (Al-Mada) that "the agenda of the parliament's economic and investment committee meeting with the prime minister addressed several issues, including the issue of border crossings and customs, the development of agriculture, industry and the tourism sector, as well as organizing the relationship between the legislative and executive branches."

He continues, "The Prime Minister spoke to the members of the Parliamentary Committee about the reformist white paper and its content, which will be a road map for implementing a set of economic measures," noting that "calling it white because it is a new reform paper will be written in cooperation between the government and parliament away from the interference of political parties."

 And the deputy from the Iraqi Forces Alliance bloc confirms that "the implementation of this paper will be in the form of phases because it contains foundations in which the government is running the wheel of the economy, and will be applied during a period of time not long", noting that "the presentation of this paper came in response to the conditions of the parliament for the government to prepare a reform paper Against passing the domestic and foreign borrowing law. " The House of Representatives had stipulated that the economic reform bill be sent by the government within a period not exceeding 60 days in exchange for passing the domestic and foreign borrowing law to finance the fiscal deficit for 2020.

On the other hand, the Minister of Finance, Ali Allawi, warned that the economy may face shocks that we will not be able to address unless reform measures are adopted in less than a year. On Monday, the Parliamentary Committee on Economy and Investment announced its discussion with Prime Minister Mustafa Al-Kazemi, "The White Paper." 

The committee said in a statement that, "In the context of real solutions and not relying on a single economy, the parliamentary economic and investment committee continues continuous efforts to address problems and obstacles and stand with the executive government in supporting and legislating important economic laws."

She continued, "In order to improve the performance of the economy and push the wheel of investment, the Chairman and members of the Committee met with the Prime Minister to listen and discuss the white government reform paper, unify visions and enhance cooperation between the executive and the legislative authority in a way that serves the advancement of the government's work in its pursuit of scientific and realistic economic reforms."

She pointed out that "the Prime Minister listened to for his part the ideas and proposals put forward by the Chairman and members of the Committee that contribute to addressing the deficiencies and push in the case of the government take them out of the unilateral rentier economy to a strong and diversified economy through which the government can overcome the financial crisis And creating job jobs for different segments of society, and everyone was keen on activating the agricultural and industrial sector and supporting it in the ways that he promoted.

LINK

 

Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions

06/23/2020 08:24:25

 

Baghdad / extent

The Parliamentary Economic and Investment Committee believes that the "white" reform paper announced by Prime Minister Mustafa Al-Kazemi is "positive".

She said it would be a road map to control the management of border ports and ports, tackle currency auction corruption and stimulate the private sector.

And the parliament required the government to present the economic reform law within a period of sixty days in exchange for its approval to pass the domestic and foreign borrowing law to fill the fiscal deficit for the year 2020 before the end of this month.
And the Al-Kazemi government was forced on the eleventh of last May to send a draft of the internal and external borrowing law to the House of Representatives after the decline in oil prices in global markets in order to be able to secure the salaries of workers in the state for the remaining five months of the fiscal year. Nada Shaker Jawdat, member of the Economic Committee in the House of Representatives told (Al-Mada) that "the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system," stressing that "the paper is still under study and research, and the government has not finished preparing it yet." ". 

The conditions of the financial crisis, the collapse of oil prices in the global markets, and the repercussions of the Corona virus pandemic crisis prompted Mustafa Al-Kazimi's government to review the financial policy in Iraq in order to overcome the financial distress that threatens the Iraqi economy.

Jawdat expects that "the economic white paper will consist of reform packages launched and implemented in the form of three phases; the first is short-term and is the control of the state on border ports and ports, tackling corruption in the currency auction, smuggling hard currency, reducing the salaries of the three presidencies, and solving the problem of state real estate."

And she adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects." 

The Prime Minister, Mustafa Al-Kazemi, confirmed the day before yesterday, that his government prepared a white paper for the expected reforms, and took preliminary recommendations that are being discussed before moving forward with them, pointing out the "need for complementarity between the government and the parliament to support system" rel="">supportthese reforms."

A statement by Al-Kazemi’s office stated that the Prime Minister held a meeting with the Chairman and members of the Parliamentary Committee on Economy and Investment, during which the white paper prepared by the Council of Ministers was discussed, and includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

The statement added that "Al-Kazemi listened to the proposals and opinions of the members of the Parliamentary Committee, the vision of the committee regarding the proposed solutions, and the obstacles facing the process of advancing the Iraqi economy and activating the various sectors," stressing the importance of witnessing "the current stage of further cooperation between the executive and legislative authorities, leading to a service Citizen and achieve the public interest of the country, and overcome the challenges it faces. " In turn, Yahya Al-Aythawi, another member of the Parliamentary Committee on Economy and Investment, said, "Our meeting with the Prime Minister focused on how to advance the Iraqi economy, revitalize the private sector movement, build factories, and activate investment," adding that "the meeting touched on the possibility of implementing the Grand Faw port project ".

Al-Ithawi states in a statement to (Al-Mada) that "the agenda of the parliament's economic and investment committee meeting with the prime minister addressed several issues, including the issue of border crossings and customs, the development of agriculture, industry and the tourism sector, as well as organizing the relationship between the legislative and executive branches."

He continues, "The Prime Minister spoke to the members of the Parliamentary Committee about the reformist white paper and its content, which will be a road map for implementing a set of economic measures," noting that "calling it white because it is a new reform paper will be written in cooperation between the government and parliament away from the interference of political parties."

 And the deputy from the Iraqi Forces Alliance bloc confirms that "the implementation of this paper will be in the form of phases because it contains foundations in which the government is running the wheel of the economy, and will be applied during a period of time not long", noting that "the presentation of this paper came in response to the conditions of the parliament for the government to prepare a reform paper Against passing the domestic and foreign borrowing law. " The House of Representatives had stipulated that the economic reform bill be sent by the government within a period not exceeding 60 days in exchange for passing the domestic and foreign borrowing law to finance the fiscal deficit for 2020.

On the other hand, the Minister of Finance, Ali Allawi, warned that the economy may face shocks that we will not be able to address unless reform measures are adopted in less than a year. On Monday, the Parliamentary Committee on Economy and Investment announced its discussion with Prime Minister Mustafa Al-Kazemi, "The White Paper." 

The committee said in a statement that, "In the context of real solutions and not relying on a single economy, the parliamentary economic and investment committee continues continuous efforts to address problems and obstacles and stand with the executive government in supporting and legislating important economic laws."

She continued, "In order to improve the performance of the economy and push the wheel of investment, the Chairman and members of the Committee met with the Prime Minister to listen and discuss the white government reform paper, unify visions and enhance cooperation between the executive and the legislative authority in a way that serves the advancement of the government's work in its pursuit of scientific and realistic economic reforms."

She pointed out that "the Prime Minister listened to for his part the ideas and proposals put forward by the Chairman and members of the Committee that contribute to addressing the deficiencies and push in the case of the government take them out of the unilateral rentier economy to a strong and diversified economy through which the government can overcome the financial crisis And creating job jobs for different segments of society, and everyone was keen on activating the agricultural and industrial sector and supporting it in the ways that he promoted.

LINK

[DinarThug]

LINK

Deputy: The budget will put Parliament before a big responsibility in dealing with borrowing

 

 

06/22/2020 21:44:58

 

 

Member of the House of Representatives, Qusai Abbas, confirmed that the federal budget will place parliament in front of a great responsibility in dealing with borrowing.

 

Abbas said (to Al-Furat News) that "the approval of the federal budget is more important than the project of lending, which did not reach Parliament until the moment."

He pointed out that "the arrival of the budget, especially with the gradual rise in oil prices, will place the parliament in front of a great responsibility in how to deal with internal and external borrowing."

The Chairman of the Finance Committee, Haitham Al-Jubouri, affirmed in a statement that the internal and external borrowing law would be a temporary solution to bridge the budget deficit, provided that the government is committed to sending the law of economic and financial reform to the parliament in a period not exceeding 60 days to keep the country away from the specter of financial crises in the future.

[Sage449]

Climax, MN just a stone's throw from Fertile, MN 😁

[horsesoldier]

11 towns with VERY suggestive names . . . good thing these names are not on my birth certificate.

 

https://www.pri.org/stories/2016-03-24/wait-youre-where-11-towns-and-cities-suggestive-names

[DinarThug]

Here’s A Map With Some Town Names Where Utah Is Completely Surrounded - And Pennsylvania Is Even More Screwed !  

 

 

     

[nannab]

OMG   Utah

[horsesoldier]

LET'S " GO ALL THE WAY " WITH THIS FOLKS . . . HOW ABOUT THE MOST LEWD SOUNDING TOWNS IN EUROPE & AFRICA !!!!!

 

https://www.fodors.com/news/photos/severely-nsfw-part-2-the-most-obscene-names-of-places-europe-africa

[screwball]

7 hours ago, DinarThug said:

 

 

Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions

06/23/2020 08:24:25

 

Baghdad / extent

The Parliamentary Economic and Investment Committee believes that the "white" reform paper announced by Prime Minister Mustafa Al-Kazemi is "positive".

She said it would be a road map to control the management of border ports and ports, tackle currency auction corruption and stimulate the private sector.

And the parliament required the government to present the economic reform law within a period of sixty days in exchange for its approval to pass the domestic and foreign borrowing law to fill the fiscal deficit for the year 2020 before the end of this month.
And the Al-Kazemi government was forced on the eleventh of last May to send a draft of the internal and external borrowing law to the House of Representatives after the decline in oil prices in global markets in order to be able to secure the salaries of workers in the state for the remaining five months of the fiscal year. Nada Shaker Jawdat, member of the Economic Committee in the House of Representatives told (Al-Mada) that "the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system," stressing that "the paper is still under study and research, and the government has not finished preparing it yet." ". 

The conditions of the financial crisis, the collapse of oil prices in the global markets, and the repercussions of the Corona virus pandemic crisis prompted Mustafa Al-Kazimi's government to review the financial policy in Iraq in order to overcome the financial distress that threatens the Iraqi economy.

Jawdat expects that "the economic white paper will consist of reform packages launched and implemented in the form of three phases; the first is short-term and is the control of the state on border ports and ports, tackling corruption in the currency auction, smuggling hard currency, reducing the salaries of the three presidencies, and solving the problem of state real estate."

And she adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects." 

The Prime Minister, Mustafa Al-Kazemi, confirmed the day before yesterday, that his government prepared a white paper for the expected reforms, and took preliminary recommendations that are being discussed before moving forward with them, pointing out the "need for complementarity between the government and the parliament to support system" rel="">supportthese reforms."

A statement by Al-Kazemi’s office stated that the Prime Minister held a meeting with the Chairman and members of the Parliamentary Committee on Economy and Investment, during which the white paper prepared by the Council of Ministers was discussed, and includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

The statement added that "Al-Kazemi listened to the proposals and opinions of the members of the Parliamentary Committee, the vision of the committee regarding the proposed solutions, and the obstacles facing the process of advancing the Iraqi economy and activating the various sectors," stressing the importance of witnessing "the current stage of further cooperation between the executive and legislative authorities, leading to a service Citizen and achieve the public interest of the country, and overcome the challenges it faces. " In turn, Yahya Al-Aythawi, another member of the Parliamentary Committee on Economy and Investment, said, "Our meeting with the Prime Minister focused on how to advance the Iraqi economy, revitalize the private sector movement, build factories, and activate investment," adding that "the meeting touched on the possibility of implementing the Grand Faw port project ".

Al-Ithawi states in a statement to (Al-Mada) that "the agenda of the parliament's economic and investment committee meeting with the prime minister addressed several issues, including the issue of border crossings and customs, the development of agriculture, industry and the tourism sector, as well as organizing the relationship between the legislative and executive branches."

He continues, "The Prime Minister spoke to the members of the Parliamentary Committee about the reformist white paper and its content, which will be a road map for implementing a set of economic measures," noting that "calling it white because it is a new reform paper will be written in cooperation between the government and parliament away from the interference of political parties."

 And the deputy from the Iraqi Forces Alliance bloc confirms that "the implementation of this paper will be in the form of phases because it contains foundations in which the government is running the wheel of the economy, and will be applied during a period of time not long", noting that "the presentation of this paper came in response to the conditions of the parliament for the government to prepare a reform paper Against passing the domestic and foreign borrowing law. " The House of Representatives had stipulated that the economic reform bill be sent by the government within a period not exceeding 60 days in exchange for passing the domestic and foreign borrowing law to finance the fiscal deficit for 2020.

On the other hand, the Minister of Finance, Ali Allawi, warned that the economy may face shocks that we will not be able to address unless reform measures are adopted in less than a year. On Monday, the Parliamentary Committee on Economy and Investment announced its discussion with Prime Minister Mustafa Al-Kazemi, "The White Paper." 

The committee said in a statement that, "In the context of real solutions and not relying on a single economy, the parliamentary economic and investment committee continues continuous efforts to address problems and obstacles and stand with the executive government in supporting and legislating important economic laws."

She continued, "In order to improve the performance of the economy and push the wheel of investment, the Chairman and members of the Committee met with the Prime Minister to listen and discuss the white government reform paper, unify visions and enhance cooperation between the executive and the legislative authority in a way that serves the advancement of the government's work in its pursuit of scientific and realistic economic reforms."

She pointed out that "the Prime Minister listened to for his part the ideas and proposals put forward by the Chairman and members of the Committee that contribute to addressing the deficiencies and push in the case of the government take them out of the unilateral rentier economy to a strong and diversified economy through which the government can overcome the financial crisis And creating job jobs for different segments of society, and everyone was keen on activating the agricultural and industrial sector and supporting it in the ways that he promoted.

LINK

the mere mention of scientific reforms gets me excited. previous articles 2014 highlight scientific is directly related to zeros and the deletion! bring it on baby!