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


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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   

 

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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.

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

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

 

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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

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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 

 

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Parliamentary Finance: There is no trend to deduct employee salaries

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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

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

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

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

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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.

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

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

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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

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

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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."

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

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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."

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

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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." 

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

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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." 
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:o 

 

:D  :D  :D 

 

 

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

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

-
 13 Hours Past

 

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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

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

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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

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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.

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

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

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

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

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

       
      6th August, 2020

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

       
      Economie 7/20/2020 19:41 441    

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

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


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

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

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