Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

The Central Bank Of Iraq Supports The Ministry Of Finance With 8 Trillion Dinars, And Provides Salaries For Three Months !


Recommended Posts

CNN. No Longer Broadcasting On ‘Fumes’ !
 

 

The Central Bank of Iraq supports the Ministry of Finance with 8 trillion dinars, and provides salaries for three months

 
Economy  ,   7/22/2020 13:52   

 

43615.jpg?watermark=4

 

 

Follow up - Iraq today:
 

 

The Central Bank announced the details of its contribution in the face of the financial crisis, and while confirming the re-deduction of bonds for the Ministry of Finance to secure salaries for a period of three months, it is likely that they will be disbursed at the beginning of next week.

Ihsan Shamran, Director General of Accounting at the Central Bank, said today, Thursday, that the Central Bank has a big role in facing the current financial crisis, stressing the re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars.

He added that these bonds will enable the ministry to secure employee salaries for the months of July and August and September, noting that the bank has made it easier for the Ministry of Finance to process the debt repayment for a period of 10 years.

He pointed out that the Ministry of Finance held discussions with the Central Bank and some banks to re-deduct these bonds, noting that the bank met with the finance and banks and deducted these amounts and deposited them in the Rafidain and Al-Rasheed accounts and the retirement board.

He pointed out that the amount of 4 trillion and 300 billion dinars has been deposited in bank accounts since last Wednesday, pointing out that the finance can receive money from banks, suggesting that the salaries of employees be paid at the beginning of next week.

And that the central bank stands with the government to support the public finances from any crisis that it may face, noting that the volume of banking cooperation is relatively limited except for Rafidain and Rashid and the Iraqi Bank for Trade.

Shamran suggested that the financial crisis would ease with the recovery of oil prices and the global economy, indicating that the country is working towards improving public financial resources through the activation of taxes and customs in addition to oil resources.

LINK

  • Thanks 2
  • Upvote 4
Link to comment
Share on other sites

LINK

Parliamentary Finance: Two reasons behind late wages, and 40,000 get more than one salary

Parliamentary Finance: Two reasons behind late wages, and 40,000 get more than one salary
 

7/1/2020 21:24:19
 
 
The Parliamentary Finance Committee revealed, on Wednesday, the delay in paying salaries to employees.

Committee member Ahmed Al-Saffar {for Al-Furat News} said, “There are two reasons for delaying the payment of salaries, which I expect personally, the first because of the hard currency conversion to the Iraqi dinar, and the government’s start to check some ministries with regard to double-salaries.” He pointed out, "He revealed that 40,000 employees receive more than one salary in only 6 ministries, which has delayed the payment of salaries to employees." The page for the month of June was turned, bringing with it the hopes of Iraqi employees to receive their salaries, despite promises made by the official authorities to hand over salaries before the end of the month in the past days, but the month was gone, and salaries remained in the "government quarantine."

Commenting on the parliament’s approval of borrowing despite its objection to the law, Al-Saffar explained, “The committee has done its job through legislation, both internal and external borrowing, although it was a difficult choice for the committee to consider stopping external borrowing in the 2019 budget because it felt a danger and an increase in external debt.”  He pointed out that "the current crisis imposed on us to save the country and the government by agreeing to this law, provided that the government provides within 60 days a comprehensive reform paper so that we do not resort to borrowing again."

Al-Saffar added, "The law was supposed to be in effect from the date of its approval and the government starting the borrowing process and organizing the necessary arrangements to pay salaries and other important matters, but we follow the issue and expect that there are technical reasons that delayed salaries." On the parties that benefit from borrowing, Al-Saffar concluded his speech by saying, "The reasons for approving this law are the financial and health crisis, salaries, ration card, and medicines, and everyone who falls within these reasons are considered beneficial parties."

The House of Representatives, passed last Wednesday, a draft law that allows the government to borrow internally and externally to cover the country's fiscal deficit. The government submitted a draft law includes an external borrowing of $ 5 billion, and an internal $ 15 trillion dinars to fill the fiscal deficit.
  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

LINK

The central bank is likely to exchange employee salaries early next week

256-696x391.jpg
 
 
09:51 - 02/07/2020


The Central Bank of Iraq, Thursday, likely to pay the salaries of employees at the beginning of next week, while referring to the insurance of employee salaries for the months of July and August and September.

The Director General of Accounting at the Central Bank, Ihsan Shamran, said in a statement reported by the official Iraqi News Agency “Conscious” and viewed by him / the information / that “re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars”, indicating that “the bonds will enable the Ministry of Finance to secure employee salaries For the months of July, August and September.

Shamran added, "The Central Bank made it easy for the Ministry of Finance to process the debt repayment for a period of 10 years," noting that "the Ministry of Finance can receive money from banks."

He suggested, "Paying employees salaries at the beginning of next week," pointing out that "there is a major role for the central bank in facing the current financial crisis." 
  • Thanks 2
  • Upvote 2
Link to comment
Share on other sites

LINK

Central Bank: Re-discounting financial securities to secure
salaries for three months

 

1593645669_6272020_uyyu.jpg
 

The Central Bank of Iraq announced, today, Thursday, the details of its contribution in the face of the financial crisis, and while confirming the re-deduction of bonds for the Ministry of Finance to secure salaries for a period of three months, it is likely that they will be paid early next week

Ihsan Shamran, Director General of Accounting at the Central Bank, said in an interview with government media, "The central bank has a big role in facing the current financial crisis," stressing "re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars

He added, "These bonds will enable the ministry to secure the salaries of employees for the months of July and August," noting that "the bank has made it easier for the Ministry of Finance to process the debt repayment for a period of 10 years

He pointed out that, "The Ministry of Finance held discussions with the Central Bank and some banks to re-deduct these bonds," noting that "the bank met with the finance and banks and deducted these amounts and deposited them in the Rafidain and Al-Rasheed accounts and the retirement authority

He pointed out, "Depositing 4 trillion and 300 billion dinars in bank accounts since last Wednesday," noting that "the finance can receive money from the banks," and suggested "the payment of staff salaries at the beginning of next week

And that "the central bank stands with the government to support the public finances from any crisis that it may face," noting that "the size of banks' cooperation is relatively limited except for Rafidain, Al-Rasheed and the Iraqi Bank for Trade

Shamran said, "The financial crisis will ease with the recovery of oil prices and the global economy

  • Thanks 3
  • Upvote 1
Link to comment
Share on other sites

 

5 minutes ago, davis411 said:

Mmmmmmm

 

whats for dinner


Clooney’s Shia Friend Has Prepared Ur Favorite Iraqi Dish - Camel Balls Soup ! :o 


image.jpeg.d46668d43085bae1f3c7bf39c785f9aa.jpeg


Umbertino - Cue The Jihadi Chorus Singing That It’s ‘Mmm ... Good - Mmm ... Good ...’

 

:D  :D  :D 

 

  • Haha 5
  • Confused 1
Link to comment
Share on other sites

LINK

Parliamentary Finance: There is no trend to deduct employee salaries

21738.jpg

 

2nd July, 2020

 

The Parliamentary Finance Committee indicated, on Thursday, that the salaries of employees will not witness deduction as it was promoted, pointing out that the financial crisis will be overcome through the control of non-oil imports

Member of the committee Haneen Al-Qaddou said in a press statement, "The issue of deduction of employees salaries has ended and there is no trend in this regard, especially since Parliament rejected this, especially for the month of last June

He added that "there is great doubt that the budget is submitted by the government to the parliament, and there are speculative figures on imports every month and we may reach the end of this year with a deficit of nearly 40 trillion dinars

Al-Kiddo explained, "Overcoming the crisis is subject to pressure on the border outlets, customs, collecting electricity and entering other imports into the state treasury, so the deficit will be reduced to reasonable limits

###############

Parliamentary Finance: There is no trend to deduct employee salaries  LINK

  • Thanks 1
Link to comment
Share on other sites

Al-Kazemi: The government seeks to make Iraq an attractive environment for investment and investors    LINK

###############
 

LINK

Al-Kazemi: Our government is not settling accounts, but we are targeting one category

%D8%A7%D9%84%D9%83%D8%A7%D8%B8%D9%85%D9%8A-%D8%B1%D8%AC%D8%A7%D9%84-%D8%A7%D8%B9%D9%85%D8%A7%D9%84.jpeg

 

2nd July, 2020


The Prime Minister, Mustafa Al-Kazemi, received today, Thursday, a delegation representing a number of Iraqi businessmen.

During the meeting, Al-Kazemi listened to the businessmen’s comments on their business and investments in Iraq, the problems and challenges facing them, the obstacles that hinder the activation of the private sector inside the country, and the ways to overcome them.

He stressed that the current government is a government of consensus, solidarity, and national understanding to overcome the crisis and cross Iraq to safety, and not a government to settle accounts, so that it affects the provision of services to the citizen and achieve what he aspires, but the target is corrupt, indicating that Iraq is going through today many challenges that come at the forefront, Corona pandemic and its repercussions on the economy, calling on all parties, unions, as well as the private sector, and social activities to unite and cooperate to face these challenges. 

The Prime Minister pointed out the importance of the private sector in Iraq, and the need to strengthen and encourage it to take its leadership role in a way that enables it to revitalize the Iraqi economy, indicating that the government is today strongly going to support the private sector, and finding the appropriate climates to activate it and its contribution to building the country.

Al-Kazemi clarified that the government seeks to make Iraq an attractive environment for investment and investors and not a repulsive environment, noting that there are extortion operations that the private sector is exposed to, and that the government has deterrent measures to account and prosecute those who blackmail and bargain, stressing that the doors of the Prime Minister’s Office are open to businessmen to provide Their complaints about any extortion they might be subjected to, stressing that any corruption issue is dealt with in all seriousness and prosecuting its owners legally.

Al-Kazemi stressed that the government is working to liberate the Iraqi economy from its mortgage with oil, and attention to the sectors of industry, agriculture, tourism, services, investment, transport, etc., stressing the government's seriousness in fighting corruption in all joints of the state, especially border crossings. 

The Prime Minister stressed the need for the private sector to pay taxes in order to boost state revenues, as well as withdraw any leave or investment opportunity that has not been activated.

###################
 

Al-Kazemi Businessmen: Our doors are open to you in case you are blackmailed and bargained  LINK

  • Thanks 2
  • Upvote 4
Link to comment
Share on other sites

LINK

Al-Aqabi calls for legislation (recovering looted Iraqi funds after 2003)

irq_1772269570_1593707539.jpg&max_width=300

 

2nd July, 2020
 

Deputy of the National Approach Bloc Hussein Al-Oqabi called, today, Thursday, to legislate a law (recovering Iraqi looted funds after 2003), in cooperation and coordination between Prime Minister Mustafa Al-Kazemi and the House of Representatives

Al-Aqabi said in a press statement, “Since Mr. Mustafa Al-Kazemi took over the government nearly two months ago and we are monitoring his government's performance and steps, and unfortunately we have not noticed any realistic plans or serious reform steps to save the country from its successive crises,” noting that “we have also monitored the measures that The government took it to confront the financial crisis, and we found it deficient and far from the spirit of responsibility and reform, and it is nothing but ash in the eyes of the people

He added that "there are several realistic and feasible solutions to get the country out of its political and economic crises and we would like here to present one of these solutions and we propose to the government of Mr. Al-Kazemi and in coordination with the House of Representatives to present a draft law (recovering looted Iraqi funds after the year 2003), andthis law includes the formation of a high committee Among the Iraqi experts known for their integrity, expertise and patriotism to audit and inventory the accounts of the Iraqi state after the year 2003 since the formation of the interim government in June 2004 to the current year 2020, this committee will have the moral support and immunity required to uncover the looted funds over the past years and identify the neglected and the contributors to waste of public funds and their status To the judiciary and seize and confiscate their money, especially for those who have demonstrated the features of immoral enrichment and graft

And that "this law in the event of its legislation and its application will constitute a deterrent to the whales of corruption and an important source of financial resources that contribute to filling the deficit and enhancing the revenues of the Iraqi state instead of resorting to shackling the Iraqi economy that is exhausted by the burden of internal and external loans and the consequent imposition of external conditions and dictates, and it will be one of thesolutions The many that must be applied for the advancement of the country and its rescuefrom the accumulated crises

  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

LINK

Parliamentary Integrity announces the preparation of lists to return smuggled money abroad

1593683656_images.jpeg

 

2nd July, 2020


The Parliamentary Integrity Committee announced today, Thursday, the preparation of lists to recover money smuggled out of Iraq. 

"The committee has a complete list of the smuggled money, containing the names of the people and the funds that are located outside Iraq," said the committee's decision, Abdul Amir Al-Mayahi. 

He added that "Iraq has a lot of money abroad, some of it frozen and the other with dishonest hands." 

He pointed out that "the Corona pandemic prevented the movement of those funds," pointing out that "the Integrity Committee summoned the head of the money recovery department outside Iraq to find out what before and after 2003 of the money, and after the end of the pandemic, the file will be fully followed up."

  • Like 2
  • Thanks 1
  • Haha 1
  • Upvote 1
Link to comment
Share on other sites

LINK

Al-Kaabi: The current circumstance requires activating the decision to compel ministries to purchase the products of the Ministry of Industry

1593593265_whatsapp-image-2020-07-01-at-6.49.28-pm.jpeg

 

1st July, 2020


Mr. Hassan Karim Al Kaabi, First Deputy Speaker of the House of Representatives, today, Wednesday, called for the necessity of working to support promising inventions and initiatives, especially in the economic, industrial and commercial fields, and to proceed towards adopting and investing the capabilities of their owners in a productive, effective and correct manner, while stressing the necessity of activating the decision to compel ministries to purchase products Various products of public companies belonging to the Ministry of Industry.

His media office said in a statement that "This came during his presidency today, Wednesday, July 1, 2020, of a meeting of the Committee on Agriculture, Water and Parliament Marshes, in which a number of general managers in the ministries of agriculture, industry and trade were hosted to discuss activating mechanisms to support the local product and Iraqi producers and inventors, and emphasize the demand of ministries and institutions The state is to increase cooperation with each other to support the local industry under the current circumstances and the repercussions of the Corona pandemic."

The first deputy emphasized "the ability of the Iraqi competencies to provide products with good specifications and quality that are competitive with the imported products," noting "the importance of encouraging these working segments inside and outside the ministries and overcoming all obstacles they encounter as well as breaking the routine between the state departments that prevents their recruitment and benefit from Their experiences."

  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

LINK

Ministry: The price of a barrel of milk is $ 500 and milk generates revenues of up to 3 billion

image.jpeg.85675b20f06f789a4fc09dc4940e1b77.jpeg

 

2nd July, 2020

The Ministry of Agriculture announced, on Thursday, that the price of a barrel of milk is $ 500, confirming that dairy products generate revenues of up to 3 billion dinars for the state treasury.

"The prime minister is aware of the importance of the agricultural sector in reform and is concerned with his affirmation of the inability to depend on oil by 95 percent and his call for dependence on agriculture and industry," said ministry spokesman Hamid al-Nayef.

He added, "The price of a barrel of milk reaches the limits of $ 500 while the barrel of oil does not exceed $40, and dairy products enter imports into the state treasury up to 3 billion dinars annually if they are available locally in addition to contributing to the employment of labor and contributing to the elimination of unemployment." 

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

2 minutes ago, DinarThug said:

Ministry: The price of a barrel of milk is $ 500 and milk generates revenues of up to 3 billion


And Goat’s Milk Is Even Higher - That’s Why Bruce And Weegie Are In The Back Of The Stall Trying To ‘Corner The Market’! :o 

Goat Screams GIF
 
:D  :D  :D 
  • Haha 4
Link to comment
Share on other sites

LINK

The deficit is delaying exchange. "A government team" begins the procedures for securing minimum salaries

%D8%AD%D8%B3%D9%8A%D9%86-%D8%B9%D8%B1%D8
 
 
10:55 - 02/07/2020

The head of the Parliamentary Bloc Hussein Arab revealed, Thursday, the reason for the delay in the payment of employee salaries until now, stressing that a specialized government team started its work by taking a series of measures in securing the salaries of the world and retirees and social protection as a priority.

Arab said in a statement to "Information", that "the delay in launching the salaries of employees came as a result of a financial deficit within the state treasury," noting that "a specialized government team started its work by taking a series of measures in securing the salaries of the world and retirees and social protection as a priority."

He added that "all salaries of state employees are fully insured until the end of the current year."
 
And Arabs wrap up that "a specialized government team put in its priorities the salaries of simple and retired employees and social protection." 
  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

:o 

 

:D  :D  :D 

 

 

Parliamentary Finance, warns against moving towards changing the dinar exchange against the dollar: 3 categories will pay the price!

126253.jpg?watermark=4

 

Politics 07/20/2020 21:44 667 


Baghdad today - Baghdad 
 

The Finance Committee in the Iraqi parliament, Thursday (2 July 2020), commented on reports that there are potential intentions to change the exchange rate of the dollar against the dinar within the forthcoming financial reform law. 

The committee's rapporteur, Ahmed Saffar, said in an interview with (Baghdad Today) that "until now we have not seen the draft financial reform law, but there are information and leaks, we report that there is an intention to change the exchange rate of the dollar against the dinar, but we do not know its accuracy until the moment, as there is Some deputies went for this option, and there is also parliamentary opposition to this approach. "

And Al-Saffar said, "Any devaluation of the dinar or the dollar will cause inflation in prices because it will reduce the purchasing power of the Iraqi dinar, and here the affected people with limited income from employees, contracts and renters will be affected," noting that "within monetary policy, this will be the last solution to the crises."

The economist Rasim al-Aqidi warned, Thursday (14 May 2020), of floating the Iraqi dinar against the dollar, that is, reducing the value of the Iraqi dinar against the dollar, according to a proposal put forward by economists to provide additional funds for the Iraqi budget to be paid as salaries for employees. 

Al-Akidi said in an interview with (Baghdad Today) that "the issuance of any decision to float the dinar against the dollar in light of the current conditions of Iraq is very dangerous for the country which is basically suffering from uncontrollable losses, namely fees, customs, taxes and many other financial resources."

And that "the flotation does not constitute an increase in the value of the Iraqi dinar, but rather we will see an increase in the exchange rates of the dollar because of the lack of its acquisition in the global market, especially with the decline in international oil prices."

He added that "the flotation will lead to a significant increase in prices and will be paid by the poor," noting that "the flotation is taken in light of the stable financial conditions of the state, as well as the diversification of the economy and its dependence on resources other than oil."

Al-Akidi said that "floating the dinar against the dollar is launching the process of buying and selling without any limits, and the country will face an unprecedented rise in prices with limited and steady salaries, so conditions will be more difficult, especially in the humanitarian context."

Economists suggested reducing the value of the Iraqi dinar against the dollar by a value ranging between 1300 dinars or 1400 against one dollar to provide additional budget resources that allow part of the salaries to be spent, while others considered that any proposed float process may go out of control and cause a significant increase in the price of the dollar against the Iraqi dinar.

link

 

Edited by DinarThug
  • Thanks 1
  • Haha 2
  • Confused 1
  • Upvote 3
Link to comment
Share on other sites

The “green paper” strengthens its power in the shadow of Corona .. The high share of the US dollar in global reserves

-
 13 Hours Past

 

unnamed-file-300x153.jpg

 

Data from the International Monetary Fund published Tuesday showed that the share of the US dollar in global reserves rose to 61.9% in the first quarter of this year, with central banks around the world collecting a "green currency" in the wake of the Corona virus pandemic.

The dollar’s share remains the largest among all currencies, at a time when the share of the US currency was equivalent to 60.8% in the fourth quarter of 2019.

The data also showed that global reserves fell to about 11.7 trillion dollars, compared to about 11.8 trillion in the last quarter of last year.

The total holdings of the US dollar in global reserves amounted to nearly 6.8 trillion dollars in the first three months of this year, compared to 6.44 trillion in the previous quarter.

The data indicated that the share of the euro in global reserves amounted to 20% in the first quarter of this year, compared to 20.5% in the previous three months.

There was no significant change in the share of the Chinese national currency (the yuan), as it reached 1.9% of the total global reserves, while the share of the yen (Japanese currency) stabilized at 5.6% in the first quarter, largely unchanged.

Source: Reuters

LINK

  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

LINK

Iraq requests a loan from the International Monetary Fund and seeks Saudi investments in gas fields

21740.jpg
 

2nd July, 2020

 

Iraq is in talks with the International Monetary Fund to obtain a loan, and is seeking Saudi investments in natural gas fields, at a time when Baghdad is trying to boost its economy in the face of the Corona virus and low energy prices

According to the US "Bloomberg" agency, according to Deputy Prime Minister and Minister of Finance Ali Allawi, in an interview in Baghdad, the International Monetary Fund and Iraq are conducting "intensive" negotiations on a loan that may reach a maximum of $ 5 billion, and did not specify whether Iraq wants a quick credit facility. , Which will come with some strings attached, or a conditional line, or both

Allawi said, "There is no official proposal from the Iraqi government and there is no official response from the International Monetary Fund, but we are moving in this direction

The IMF and Saudi Arabia talks come at a time when Iraq is trying to support its financial resources, while Allawi spoke that the economy is likely to contract by 7% to 9% in 2020. This is more than the expectations of the International Monetary Fund by 4.7%

On the other hand, Allawi indicated that "Saudi Arabia has expressed interest in Iraqi gas projects, as the Iraqi government has proposed that the Saudis put money in the Akkas gas field in the west or Mansuriyya in the east." Allawi said that they can also invest in reserving gas from Ratawi's oil reserves. Southern

He said, "Saudi Arabia is very willing to support our energy projects." "At the end of the day, they will choose one field, and they are also interested in solar energy

According to the International Monetary Fund, the budget deficit will reach 22% of GDP this year, which is higher than anywhere in the Middle East and North Africa. Allawi said that the government will not issue new Eurobonds to finance the gap because it will be very expensive

#################

  • Upvote 2
Link to comment
Share on other sites

Didn't the IMF tell Iraq no more loans ! ! ! ! ????? WTF is the matter with these idiots - yeah, I know the list is loooong.

 

Whats so gosh damn difficult about doing the right thing and getting this damned IQD out into the global market ? If this isn't smoke then's it's utter insanity.

 

This is so ridiculous . . . all I can do is Laugh at this lunacy. Tomorrow is another day with the monkeys from the Twilight Zone.

  • Thanks 1
  • Haha 2
  • Upvote 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.