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The Iraqi Economy ... The Predicament Of The Situation And The Problem Of The Solution !


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CNN. Broadcasting With The Keys - The exchange rate is one of the “keys” to the solution !   The Iraqi economy ... the predicament of the situation and the problem of the solution

never below 2 iqd to 1 usd ... cheers and i know u new that here's a small brief summary plenty online to read cheers  -----------------------------------------------------------------------

stressed, "The visit of Prime Minister Mustafa Al-Kazemi to Iran, may consider the method of payment, and there is no solution other than bankingdealings in payment,"   Yep no more auctions! 

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Iraq: Disclosure of a shocking number for the amount of money smuggled abroad and an expert proposes a "deal" to recover quickly

127947.jpg?watermark=4

 

Economie 20/20/2020 20:56 2013     


Baghdad today _ Baghdad  

 

The economic expert, Abdul Rahman Al-Mashhadani, revealed today, Monday, the volume of money smuggled abroad, which is divided between laundering and illegal operations estimated at at least $ 250 billion, while stressing that the process of recovering it is risky and requires an international effort. 

Abdul Rahman al-Mashhadani said, in a televised statement I followed (Baghdad Today), "The endeavor to amend the Financial Management Law is not useful, because it was modified at the end of last year to allow the government to work in the absence of a budget by disbursing funds in the base of 1/12, that is, the monthly disbursement of funds According to the nearest budget approved to proceed with investment projects for which amounts will be disbursed later.

Al-Mashhadani added, "Any new amendment will weaken the role of the government and the Ministry of Finance in passing its budgets in general because the government cannot operate without a budget, and also a parliament that will not be able to monitor achievement rates without adopting a plan or budget," noting that "failure to approve a state budget In 2014, he overshadowed the performance of the Ministry of Finance since that day. "

He continued: "A budget must be organized in actual disbursement from January 2020 until July, to which estimates are added to the total budget. According to my estimate, it should be in the range of 65 trillion dinars to cover operating expenses and even the deficit will coincide with the deficit rate specified in the Financial Management Law," noting that "oil prices Stable at about $ 40 a barrel, and it is assumed that its price in the budget will be set at $ 35, and here the gates of exchange will be clear until the end of the year.

And on the money smuggled outside Iraq, the economist said, "The money smuggled abroad is estimated between money laundering and illegal operations estimated at the limits of at least 250 billion dollars and may reach 350 billion and it is present in the Arab neighboring countries as well as many countries of the world."

And on the possibility of recovering the smuggled money, he stressed that "the recovery of those funds is risky and requires an international effort and cooperation with international organizations, as well as cooperation with international offices for research and investigation to find these funds and then return them, and the matter needs at least five years."

The economist pointed out that "the state of Morocco carried out an experiment in which the smugglers of money smuggled in to drop claims against them in exchange for returning half or one third of that money, and this matter is faster than research and investigation and assigning authorities to follow up because the matter may extend for years."

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1 hour ago, Miamiheatnic said:

did it happen yet?


Ya - ‘Butt’ It Only Looks Like Davis Isn’t Wearing A Thong ! :o 

 

Looking Back Homer Simpson GIF
 
:D  :D  :D 
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3 hours ago, Gypsygirl11 said:

I  sure hope something happens. All this talk about the exchange rate is making me giddy LOL

When things get me giddy, I do the Git up dance with a good friend:

 

Edited by Theseus
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July 21, 2020 
 

Economic troubles threaten the security of Iraq A A Chloe Corniche (Financial Times)

- Translation: Muhammad Amin 

 

The Iraqi Minister of Finance warned of "grave security consequences if the country's economy is not radically restructured," in which the Corona virus crisis resulted in huge damage to business and the collapse of oil prices to deplete state revenues. 

Ali Allawi, the new finance minister, who is a graduate of Harvard University and the Massachusetts Institute of Technology, pointed to inflated spending and a monthly salary bill of more than $ 5 billion for an inflated public sector employee that includes 300,000 actual or "fake" employees.

While austerity is "a message that is difficult to pass on to politicians," Allawi reveals a growing political awareness in Iraq that "if you overload a cow in Aleppo, you may die." All you can do is alert the disaster that awaits us if we continue along this path. ” 

Allawi expressed his firm opinion that "if the economy is not radically restructured within the framework of a consistent, well-executed medium-term program, the situation may lead to truly severe security consequences." 

Crude oil prices have fallen by more than half compared to last year, which was a devastating blow to the financial position of the second largest producer of crude oil in OPEC. According to the Oxford Institute for Energy Studies, the country's revenue from oil exports fell from $ 6.1 billion in January, to as low as $ 1.4 billion in April.

Restructuring 


While the collapse of world oil prices has harmed the Iraqi economy before, Allawi believes that Baghdad is no longer able to rely on oil prices to achieve recovery, and says that «there is now a growing realization that we are moving to an environment with relatively low oil prices, and we are supposed to find an alternative to return Structuring our public finances to take into account this new normal. ”

The 73-year-old minister is a member of a transitional government to lead Iraq toward new elections after the mass protests against the institution overthrew the previous government. After three decades of wars and turmoil, Allawi is not alone in fearing that the free economic downfall will destabilize Iraq again. 

"Unemployment is increasing by a large percentage, and this may increase extremism," said a Western diplomat in Baghdad, at a time when extremist groups are seeking to attract unemployed Iraqis.

Emphasizing the economic fragility of Iraq, the country's poverty rate is expected to rise to 31.7 percent this year, from 20 percent in 2018, as the Corona virus pushed 4.5 million Iraqis below the poverty line, according to a new joint assessment by the government and the United Nations. The World Bank and Oxford University.

Low oil prices leave the government with little room to maneuver. And if oil prices remain below $ 30, Iraq will turn from a financial surplus into a deficit equal to more than a quarter of its gross domestic product, according to the World Bank. 

Analysts said the government can take advantage of $ 68 billion in foreign reserves to cover dollar bills, such as imports and debt service, and is expected to borrow $ 18 billion locally and abroad to cover government wages for the next few months.

Demonstrations against corruption 

It is also resorting to multiple lenders, where Allawi revealed that Iraq "has been holding regular and intense discussions with the International Monetary Fund for some time. Baghdad may apply for some budget support. ” 

Volume 0%   The inflated wage bill is part of Iraq's recent violent history, where Allawi notes that 40 to 45 percent of public sector employees are members of the vast Iraqi security forces.

But political parties in Iraq after 2003 offered government jobs in exchange for vote and loyalty and resisted efforts to cut public spending fueled by oil. According to the Oxford Institute for Energy Studies, many Iraqis have come to consider that the steadfast government job is their right, while the Iraqi local economy depends on the salaries of the country, which makes up about a quarter of Iraq's gross domestic product.

The previous government, headed by Adel Abdel-Mahdi, had promised hundreds of thousands of additional government jobs to calm demonstrators against corruption and economic inequality.

Attempts to reform the government by Prime Minister Haider al-Abadi in 2016 were met with protests by Muqtada al-Sadr's supporters. The new government has already had to scrap the planned taxes on pensions and some state employees.

Yasar al-Maliki, director of the Iraqi Energy Institute, said that Allawi is considered "one of the best economic minds in Iraq." He held the same position in 2005 and 2006, and still faces the same problems that existed 17 years ago. 

He added that although Allawi started cleaning up the public payroll, "we cannot expect him to do everything in one year."

للمزيد:LINK

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Re-authorizing companies (Kantar, Athl, Lamees, and Tourist) to mediate the buying and selling of foreign currencies

image.jpeg.4edb247a281a7e2a5bc918bc2fb93f54.jpeg

 

21st July, 2020

To / The Ministry of Trade / Companies Registration Department ( Re-authorizing Qantar,
Al-Athal, Lamees and Al-Tourist companies ) to mediate the buying and selling of foreign
currencies .. To view click here

To the Ministry The Trade Department Registration of companies KOS (1990)  Pursuant
to the secrets of the court wiped No. (1) of the year for it in its session held on Eid held on
۲۰۲۰/۷۲ Approval of the re-leave the company Kantar to mediate the sale and purchase
of currencies Please take the necessary It is appreciated that the matter relates with
appreciation. 

To the Ministry of Commerce  Generation of companies Re-authorization of KOY based on
the decision referred by Administration No. (1) Fitna with his session numbered by
number YANG (010)  decides to approve the return of the license to Al-Athl company to
mediate the buying and selling of foreign currencies Please take the necessary and it is
estimated that it depends on your department with the estimate value is valid for the
general manager NI and R.

Based on Board Resolution No. (۱۱۱) of the year ۲۰۲۰ in its session numbered (۷) held
on ۲۰/۷ ۲. With appreciation 

To the Department of Commerce, the important generation of companies, according to
the decision of the two administrative boards No. (لسنة) for a year in its session
numbered) on the date of ۱۳ Saleh Ali General Manager ۲۰۲۰/۲۰۲۰/۱
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Withdraw the license of Al-Durr Company to mediate buying and selling foreign currencies
 

image.jpeg.bbb69b5d9d716952bebd0149971d3314.jpeg

 

 

21st July, 2020

 

To / Ministry of Trade / Companies Registration Department ( Withdrawal of Leave )
Number: 8894/5/9
Date: 7/20/2020
 
According to the decision of the Board of Directors of this bank No. (109) for the year 2020.
In view of the violation by Al Durr Brokerage Firm of buying and selling foreign currencies,
the provisions of the regulations governing the work of brokerage firms buying and selling
foreign currencies No. (1) of 2018.

 
It was decided to withdraw the company’s license, confiscate the insurance deposited with
this bank amounting to (50,000,000) dinars (fifty million dinars), cancel the establishment
certificate granted to it by you, and provide us with a letter to write off the company’s name
from your records and the certified liquidation record and letter.
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Amending the controls of the Sharia Advisory Committee

L72-6sEWZqe5fUMnn_HKutJwvsEjXMaDC-iRTx5H

 

21st July, 2020



Amendment to paragraph ( 2 ) of the controls of the Sharia Consultative Committee 
announced on 27/2/2020 related to the request to appoint the High Sharia Consultative
Committee in the Central Bank of Iraq

» For the revised Shari’a Advisory Committee controls ... click here

Controls for Appointment of the Sharia Consultative Committee First Career.  ۲. He must
not be less than 40 years old 3- Have a PhD in Islamic Fiqh, Islamic Finance, Islamic
Economics, or Islamic Finance. To have at least (5) years of experience in the field of issuing
fatwas and legal rulings. To have at least (۱۰) years of experience in teaching and scientific
research in Islamic jurisprudence, Islamic finance, Islamic economics or Islamic finance. To
have extensive knowledge of the international Islamic standards issued by the Local and
Auditing Organization for Islamic Financial Institutions (AAOIFI) and standards issued by the
Services Council
 
Islamic Finance (IFSA) No. He published no less than (5) research papers in solid scientific
journals in the field of Islamic jurisprudence, Islamic finance, Islamic economics or Islamic
finance. 
Independence conditions 1- He should not be a member of a board of directors or
practicing 
executive business in any Islamic bank or financial institution inside Iraq during
the previous three 
years ۲ A working branch in Iraq and any other Islamic financial
institutions in which he operates 
in the event that he wishes to run for membership in the
Supreme Sharia Advisory Committee in 
this bank.  3- He does not have a margin holding
percentage in any local bank or any foreign bank 
that has a branch operating in Iraq.
4. That he does not directly or indirectly own more than 5% 
of the shares of any company
affiliated with a local bank or for a foreign exchange that owns 
a working branch inside Iraq. 
It should not be related to any of the members of the boards 
of directors or higher
departments in this bank and the banks operating in Iraq and Islamic financial 
institutions
up to the third degree. That he is not a partner or employee of any of the external 
auditing
companies during the previous three years.
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1 hour ago, DinarThug said:

Iranian Official: Close Agreement Reached On Foreign Currency Between Iran And Iraq

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21st July, 2020

 

Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, announced that it is close to reaching an agreement regarding foreign currency between Iran and Iraq.

The official, who accompanied Iranian Foreign Minister Mohammad Javad Zarif on his visit to Baghdad last Sunday with the aim of conducting banking negotiations with the Iraqi side, said that the discussions were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will arrive in Tehran today, Tuesday.

He added that in the event that it is achieved, it is expected that a significant foreign exchange will flow to the (local) market, amounting to several billion, which will contribute to covering a large part of the demand for foreign currency.

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year, between Qanbari, that the negotiations of the day before yesterday come as an extension of the memorandum concluded, and that the visit of the Iranian Central Bank Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

 

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

Iran and Iraq are on the threshold of an agreement regarding foreign currency    LINK

 

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Parliamentary Finance warns: Dealing with Iranian banks will expose Iraq to an international blockade

1595325862_3336.jpg
 

21st July, 2020

Member of Parliamentary Finance Committee, Ahmed Hama Rashid, warned against dealing with Iranian banks in the process of paying the debts owed by Iraq to Iran, stressing that the issue may expose Iraq to the blockade

Rashid said in a statement followed by "Gilgamesh Press" that "Iraq tried to pay debts to an Iranian office, but to no avail, given that Iranian banks are besieged and cannot be dealt with

He pointed out that "Iraq tried through a group of central banks, including the Central Bank of China, but to no avail, because of the ban in transactions. He stressed, "The visit of Prime Minister Mustafa Al-Kazemi to Iran, may consider the method of payment, and there is no solution other than banking dealings in payment," noting that "the issue is complicated, and Iraq may be besieged if it deals with Iranian banks

He explained, "The debt amounts of $ 3 billion may be due to energy, keros debt, gas and electric power, and the ministries of Electricity and Oil can clarify the truth of the amounts if they are realistic or exaggerated. He added, "Iraq currently does not have funds to pay debts, and it needs some flexibility in the negotiations between Iraq and Iran

Earlier in the day, the head of the Iran-Iraq Joint Chamber of Commerce, Yahya Al-Ishaq, confirmed that Iraq’s energy and electricity debts to Iran would be addressed when Prime Minister Mustafa Al-Kazemi visited Tehran

Prime Minister Mustafa Al-Kazemi and his accompanying delegation arrived earlier in the day to the Iranian capital, Tehran, for a two-day official visit

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it will provide the bank with continuous cash liquidity, most people benefit from its salaries at a rate of 1/30 and even if someone spends his salary in less than that, the money is still in the bank because the circle is also closed As we explained, this measure can provide a monthly liquidity of 53 trillion Iraqi dinars, equivalent to 47 billion US dollars, which is a very large monetary block

 

jyst imagine what a rate change will do get all that cash from homes to banks! The above is merely talking about wages,welfare etc. if 70% cash is kept at home we could be talking over 100 trillion dinar if well over 80 billion usd

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15 hours ago, DinarThug said:

the volume of money smuggled abroad, which is divided between laundering and illegal operations estimated at at least $ 250 billion, while stressing that the process of recovering it is risky and requires an international effort. 

Hmmmm lots of money 

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19 hours ago, DinarThug said:

Iraq: Disclosure of a shocking number for the amount of money smuggled abroad and an expert proposes a "deal" to recover quickly

127947.jpg?watermark=4

 

Economie 20/20/2020 20:56 2013     


Baghdad today _ Baghdad  

 

The economic expert, Abdul Rahman Al-Mashhadani, revealed today, Monday, the volume of money smuggled abroad, which is divided between laundering and illegal operations estimated at at least $ 250 billion, while stressing that the process of recovering it is risky and requires an international effort. 

Abdul Rahman al-Mashhadani said, in a televised statement I followed (Baghdad Today), "The endeavor to amend the Financial Management Law is not useful, because it was modified at the end of last year to allow the government to work in the absence of a budget by disbursing funds in the base of 1/12, that is, the monthly disbursement of funds According to the nearest budget approved to proceed with investment projects for which amounts will be disbursed later.

Al-Mashhadani added, "Any new amendment will weaken the role of the government and the Ministry of Finance in passing its budgets in general because the government cannot operate without a budget, and also a parliament that will not be able to monitor achievement rates without adopting a plan or budget," noting that "failure to approve a state budget In 2014, he overshadowed the performance of the Ministry of Finance since that day. "

He continued: "A budget must be organized in actual disbursement from January 2020 until July, to which estimates are added to the total budget. According to my estimate, it should be in the range of 65 trillion dinars to cover operating expenses and even the deficit will coincide with the deficit rate specified in the Financial Management Law," noting that "oil prices Stable at about $ 40 a barrel, and it is assumed that its price in the budget will be set at $ 35, and here the gates of exchange will be clear until the end of the year.

And on the money smuggled outside Iraq, the economist said, "The money smuggled abroad is estimated between money laundering and illegal operations estimated at the limits of at least 250 billion dollars and may reach 350 billion and it is present in the Arab neighboring countries as well as many countries of the world."

And on the possibility of recovering the smuggled money, he stressed that "the recovery of those funds is risky and requires an international effort and cooperation with international organizations, as well as cooperation with international offices for research and investigation to find these funds and then return them, and the matter needs at least five years."

The economist pointed out that "the state of Morocco carried out an experiment in which the smugglers of money smuggled in to drop claims against them in exchange for returning half or one third of that money, and this matter is faster than research and investigation and assigning authorities to follow up because the matter may extend for years."

LINKLINK

 

A smugglers' TAX at a 50% or 33% rate! 

Hahahahaha.

Why not, if you have the evidence of malfeasance, pay the host country a bounty of 25% for seizing and returning YOUR money? And, work on developing your diplomatic solutions to return the thieves, too!?

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23 hours ago, DinarThug said:

Iraq: Disclosure of a shocking number for the amount of money smuggled abroad and an expert proposes a "deal" to recover quickly

127947.jpg?watermark=4

 

Economie 20/20/2020 20:56 2013     


Baghdad today _ Baghdad  

 

The economic expert, Abdul Rahman Al-Mashhadani, revealed today, Monday, the volume of money smuggled abroad, which is divided between laundering and illegal operations estimated at at least $ 250 billion, while stressing that the process of recovering it is risky and requires an international effort. 

Abdul Rahman al-Mashhadani said, in a televised statement I followed (Baghdad Today), "The endeavor to amend the Financial Management Law is not useful, because it was modified at the end of last year to allow the government to work in the absence of a budget by disbursing funds in the base of 1/12, that is, the monthly disbursement of funds According to the nearest budget approved to proceed with investment projects for which amounts will be disbursed later.

Al-Mashhadani added, "Any new amendment will weaken the role of the government and the Ministry of Finance in passing its budgets in general because the government cannot operate without a budget, and also a parliament that will not be able to monitor achievement rates without adopting a plan or budget," noting that "failure to approve a state budget In 2014, he overshadowed the performance of the Ministry of Finance since that day. "

He continued: "A budget must be organized in actual disbursement from January 2020 until July, to which estimates are added to the total budget. According to my estimate, it should be in the range of 65 trillion dinars to cover operating expenses and even the deficit will coincide with the deficit rate specified in the Financial Management Law," noting that "oil prices Stable at about $ 40 a barrel, and it is assumed that its price in the budget will be set at $ 35, and here the gates of exchange will be clear until the end of the year.

And on the money smuggled outside Iraq, the economist said, "The money smuggled abroad is estimated between money laundering and illegal operations estimated at the limits of at least 250 billion dollars and may reach 350 billion and it is present in the Arab neighboring countries as well as many countries of the world."

And on the possibility of recovering the smuggled money, he stressed that "the recovery of those funds is risky and requires an international effort and cooperation with international organizations, as well as cooperation with international offices for research and investigation to find these funds and then return them, and the matter needs at least five years."

The economist pointed out that "the state of Morocco carried out an experiment in which the smugglers of money smuggled in to drop claims against them in exchange for returning half or one third of that money, and this matter is faster than research and investigation and assigning authorities to follow up because the matter may extend for years."

LINKLINK

 

Member of Parliamentary Integrity: Entities who stand against the recovery of smuggled money .. They were taken out in two stages

 

image.jpeg.f034cf4fb0f6e3f2e04415b25bbf949b.jpeg
 

Policy 2020/07/21 20:19 153      

Baghdad today - Baghdad 

 

Member of the Parliamentary Integrity Committee, MP Jamal Muhammad, confirmed today, Tuesday, that the smuggling of Iraqi funds took place in two phases, indicating that there are political parties that stand against their recovery.

Mohammed told (Baghdad Today), that "there is no specific figure that accurately reveals the amount of Iraqi money that was smuggled abroad, but it is clear to us that it was smuggled through two phases, the first in the time of the previous regime through the oil-for-food program, and the second phase started after 2003 through the corrupt. "

He pointed out that "there are a lot of files that contain numbers and documents related to the large smuggled money, but so far there is no serious government move towards it despite the passage of many years of it."

Muhammad added, "The parliament approved the law to recover money from Iraq, and made an amendment to it, but so far, none of the smuggled money has been recovered."

He pointed out that "the file of smuggled money carries a lot of secrets ... There are already influential people in addition to neighboring countries that have prevented governments from opening this important file in earnest for many years." 

Earlier, the economist, Abd al-Rahman al-Mashhadani, revealed the volume of money smuggled abroad, which is divided between laundering and illegal operations estimated at at least $ 250 billion, while stressing that the process of recovering it is risky and requires an international effort. 

Abdul Rahman Al-Mashhadani said, "Money smuggled abroad is estimated between money laundering and illegal operations,

estimated at the limits of at least $ 250 billion, and may reach $ 350 billion,

which is found in the Arab neighborhood and also many countries of the world." 

And on the possibility of recovering the smuggled money, he stressed that "the recovery of those funds is risky and requires an international effort and cooperation with international organizations, as well as cooperation with international offices for research and investigation to find these funds and then return them, and the matter needs at least five years." 

The economist pointed out that "the state of Morocco carried out an experiment in which the smugglers of money smuggled in to drop claims against them in exchange for returning half or one third of that money, and this matter is faster than research and investigation and assigning authorities to follow up because the matter may extend for years."

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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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