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Central Bank Governor: We Have Started Implementing The Banking Sector Reform Plan !


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Finance issues an explanatory statement about the "white paper" and its positive points https://alahadnews.net/123474/العراق/محليات/   Author: AhadNA3 On 10/21/2020 - 3

Hurry up, hurry up ..... HURRY THE HELL UP ALREADY !!!!   okay, I’m calm..... we’ll, not so much as I thought. Yes, I’m very impatient these days.

GOOD!

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Parliamentary Finance Minister: The borrowing policy represents a great danger to the country's economic situation

 

The head of the Parliamentary Finance Committee, Haitham al-Jubouri, considered, on Wednesday, that the borrowing policy represents a "great danger" to the economic situation of the country and "threatens the future of future generations," noting that the government's responsibility is to secure the salaries of employees and retirees and the benefits of the social welfare network and pay them on time without delay.

 
The committee said in a statement that Alsumaria News received a copy of, that it “hosted, headed by MP Haitham Al-Jubouri and in the presence of members of the committee and other parliamentary committees, today, Wednesday, the advanced staff in the Ministry of Finance to discuss the draft fiscal deficit financing bill submitted by the government due to the delay in sending the budget law for 2020 And the continuation of crude oil prices at low levels and to finance the necessary public expenditures. "
 

The statement added, "The interventions of the members of the Finance Committee during the hosting, which was held at the headquarters of the Committee, focused on the provisions of the law on financing the fiscal deficit and the paragraphs and figures contained therein, in addition to the committee's request from the staff of the Ministry of Finance to provide clarifications in a transparent manner regarding the amount of borrowing that the Finance Committee deems exaggerated. Given the financial expenditures that were disbursed by the government up to 8/31/2020.

The statement quoted Al-Jubouri as saying that "the government's responsibility is to secure the salaries of employees and retirees and the benefits of the social welfare network and pay them on time without delay, but at the same time not to rely on the borrowing policy that represents a great danger to the economic situation of the country and threatens the future of future generations and represents an explicit violation of the Financial Management Law." For the year 2019. "
 

He continued, "The Financial Committee previously provided many solutions and reform steps for the government that would maximize the state's non-oil revenues and stop the waste of public money. It was possible for the country to avoid falling into such stifling financial crises, such as automating customs and border crossings and making an inventory of the number of employees in the state." By following a biometric system for each employee, as well as collecting electricity and reconsidering the currency auction.
 
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Malal Talal: The state's revenues are not sufficient to meet the salaries of employees in the coming months
 
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https://economy-news.net/content.php?id=22444
 
 
 
 
 

Economy News - Baghdad

The spokesman for the Prime Minister’s Office, Ahmed Mulla Talal, announced that the state’s revenues are insufficient to meet the salaries of employees in the coming months.

Talal said the decline in state revenues in the past several months was insufficient to pay off its salaries and other urgent obligations. On this basis, the government requested from Parliament additional borrowing authority to fill the financing gap until the 2021 budget presentation .

He added that the 2021 budget will be a reform budget par excellence and based on the requirements of the white paper, and measures will be taken directly aimed at improving state revenues and controlling expenditures.

 

 
Number of observations 118   Date of addendum 10/28/2020
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Parliamentary Finance: The government submitted a borrowing request without specifying the destination of the exchange
 
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https://economy-news.net/content.php?id=22439
 
 
 
 

Economy News _ Baghdad

The Parliamentary Finance Committee confirmed, on Wednesday, that yesterday's meeting regarding the government's request for borrowing was unclear because the borrowing amounts were not specified for the exchange and this we did not accept, indicating that the government is trying to pressure Parliament and put it between two fires, but the committee will host today the Minister of Finance and a number of ministry officials To determine the law of disability and exchange points.

Committee member Jamal Cougar said in a press interview, "The meeting of the Finance Committee did not resolve the government's request for a new borrowing because the government did not clarify where the amounts were spent."

Cougar added, "The committee will hold, today, an expanded meeting with the Minister of Finance, the Director General of the Budget and the Governor of the Central Bank for the purpose of clarifying the funds requested by the Ministry and to whom it will be disbursed," expressing his belief that "the committee will not approve the amount that Parliament requested approval. on him".

He pointed out that "the Ministry of Finance is trying every time to put the House of Representatives in an embarrassing position and put it between two fires of acceptance and rejection."

 
Number of observations 240   Date of addendum 10/28/2020
 
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2020/10/28 18:39

Communications confirms its need for World Bank support in policy-making and expertise

https://almasalah.com/ar/news/199915/الاتصالات-تؤكد-حاجتها-لدعم-البنك-الدولي-في-مجال-رسم-السياسات-وتقديم-الخبرات

Baghdad / Al-Masala: The Ministry of Communications announced, on Wednesday, October 28, 2020, its need to support the World Bank in the field of policy-making and providing expertise and training for Iraqi engineers and technicians in the ministry in the field of electronic digital transformation. 

The ministry said in a statement, that "under the direct supervision of the Minister of Communications, Arkan Shihab Ahmed Al-Shaibani, the ministry held its conference on Wednesday with the World Bank, and through a television circle, in the presence of the representative of the World Bank in the Baghdad office, Wasim Al-Miqdadi." 

The statement added, "The Director General of the Planning and Follow-up Department in the Ministry, Adam Al-Quraishi, who represented the Minister, provided a detailed explanation of the five-year plan of the Ministry of Communications, which the Ministry intends to implement during the next five years," stressing the ministry's need to support the World Bank in the field of policy-making and providing expertise And training for Iraqi engineers and technicians in the Ministry of Communications in the field of electronic digital transformation. 

He pointed out that "the ministry does not need financial support, as the majority of the ministry's projects are long-term investment projects." 

And he continued, "The economist in digital aspects from Washington, Jerome Beesia, and Marula Haddad, a specialist in digital infrastructure and the World Bank's coordinator for the communications sector in Iraq, expressed the World Bank's desire to support the Iraqi government's efforts to shift towards e-government and open horizons for joint cooperation with the Ministry of Communications. It is responsible for implementing the government program for the electronic digital transformation of the ministries and institutions of the Iraqi state. 

He noted that "the meeting was attended by Director of the Directorate of Communications and Informatics Infrastructure at the Public Company for Communications and Informatics, Yasser Amer."

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Representative Finance: The borrowing to secure salaries will be internal

Editing date: 10/28/2020 18:4031 times read
 
[Baghdad-Where]
The Parliamentary Finance Committee confirmed, on Wednesday, that borrowing will be internally from government banks and the Central Bank, attributing the matter to the presence of foreign debts on Iraq and its inability to borrow.
A member of the Parliamentary Finance Committee, Jamal, said the committee hosted the advanced staff at the Ministry of Finance, including the minister, to view the details of the loan amount and the actual disbursement sections for those required numbers.

He added that "after its amendment, Parliament will proceed to approve the law on the loan, but with an internal loan," noting that "the approval will be preceded by an inquiry from government banks and the Central Bank of Iraq, the possibility of borrowing and securing those sums or not."

The Joker explained that "Iraq cannot borrow abroad because it has large debts, which will push it to borrow internally
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The Finance and Economy Committees in Parliament discuss economic reforms

Policy

2020-10-28 | 13:40

https://www.alsumaria.tv/news/سياسة/362694/لجنتا-المالية-والاقتصاد-في-البرلمان-تناقشان-الاصلا

The Finance and Economy Committees in Parliament discuss economic reforms

On Wednesday, the Parliament’s Finance and Economy Committees discussed economic reforms and the deficit financing law.

A

A statement, which Alsumaria News received a copy of, said: "The heads of the Finance Committee, Haitham Al-Jubouri, and the Chairman of the Economy and Investment Committee, Ahmed Al-Kinani, studied the stifling economic crisis that the country is going through, and the two parties discussed the most important things in the government paper submitted for reforms and the deficit financing law presented to the House of Representatives for approval."

 

And they stressed, according to the statement, "the need to take quick and realistic measures to secure the salaries of employees and retirees, the social protection network, and other necessary financial obligations, such as providing medicines, ration cards, and confronting the Corona pandemic."

 

The two parties agreed to "take practical steps, in partnership with experts, academics and specialists from the private sector, to mature the white paper with practical solutions, including clear timings and specifying the responsible parties for their implementation, so that those failing to implement these reforms can be held accountable after they are approved."

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Today .. salaries are delayed at the Parliament table

Wednesday 28 October 2020 195

Today .. salaries are delayed at the Parliament table
 
  Baghdad: Shaima Rasheed 
 
Today, Wednesday, the Parliamentary Finance Committee will host officials at the Ministry of Finance to discuss employee salaries and the borrowing law, while warning of the danger of moving towards printing a new currency to cover the financial deficit.
Committee member Jamal Cougar told "Al-Sabah": "The delay in salaries has nothing to do with the borrowing law and the government must understand the absence of this link and we will not allow it to do so," expecting that "the loan will not exceed 15 trillion dinars as an actual need for the government." 
He added that "the delay in paying salaries is not the responsibility of the Finance Committee, but on the contrary, there was a trend within the committee to reject the borrowing law, but there is pressure by some members towards its legislation," noting that "Iraq's debt has reached 124 billion dollars."
Cougar indicated that the law will not go easy this time, and there will be hosting today, Wednesday, for officials in the Ministry of Finance to discuss the disbursement of employees' salaries, as well as there will be hosting of each of the Minister of Finance and figures from the Ministry of Planning, respectively, in the coming days
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13 hours ago, 6ly410 said:
Malal Talal: The state's revenues are not sufficient to meet the salaries of employees in the coming months
 
21614.jpg
https://economy-news.net/content.php?id=22444
 
 
 
 
 

Economy News - Baghdad

The spokesman for the Prime Minister’s Office, Ahmed Mulla Talal, announced that the state’s revenues are insufficient to meet the salaries of employees in the coming months.

Talal said the decline in state revenues in the past several months was insufficient to pay off its salaries and other urgent obligations. On this basis, the government requested from Parliament additional borrowing authority to fill the financing gap until the 2021 budget presentation .

He added that the 2021 budget will be a reform budget par excellence and based on the requirements of the white paper, and measures will be taken directly aimed at improving state revenues and controlling expenditures.

 

 
Number of observations 118   Date of addendum 10/28/2020

 

LINK

Malal Talal: The state's revenues are insufficient to meet the salaries of employees in the coming months

 

21614.jpg
 

28th October, 2020

The spokesman for the Prime Minister’s Office, Ahmed Mulla Talal, announced that the state’s revenues are not sufficient to meet the salaries of employees in the coming months

Talal said the decline in state revenues in the past several months was insufficient to pay off its salaries and other urgent obligations. On this basis, the government requested from Parliament additional borrowing authority to fill the financing gap until the 2021 budget presentation

He added that the 2021 budget will be a reform budget par excellence and based on the requirements of the white paper, and measures will be taken directly aimed at improving state revenues and controlling expenditures

########## 

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11 hours ago, 6ly410 said:

Today .. salaries are delayed at the Parliament table

Wednesday 28 October 2020 195

Today .. salaries are delayed at the Parliament table
 
  Baghdad: Shaima Rasheed 
 
Today, Wednesday, the Parliamentary Finance Committee will host officials at the Ministry of Finance to discuss employee salaries and the borrowing law, while warning of the danger of moving towards printing a new currency to cover the financial deficit.
Committee member Jamal Cougar told "Al-Sabah": "The delay in salaries has nothing to do with the borrowing law and the government must understand the absence of this link and we will not allow it to do so," expecting that "the loan will not exceed 15 trillion dinars as an actual need for the government." 
He added that "the delay in paying salaries is not the responsibility of the Finance Committee, but on the contrary, there was a trend within the committee to reject the borrowing law, but there is pressure by some members towards its legislation," noting that "Iraq's debt has reached 124 billion dollars."
Cougar indicated that the law will not go easy this time, and there will be hosting today, Wednesday, for officials in the Ministry of Finance to discuss the disbursement of employees' salaries, as well as there will be hosting of each of the Minister of Finance and figures from the Ministry of Planning, respectively, in the coming days

 

LINK

Today .. salaries are delayed at the Parliament table

 

alsabaah-51823-810x414.jpg
 

28th October, 2020

 

Today, Wednesday, the Parliamentary Finance Committee will host officials at the Ministry of Finance to discuss employee salaries and the borrowing law, while warning of the danger of moving towards printing a new currency to cover the financial deficit.
 
Committee member Jamal Cougar told Al-Sabah: “The delay in salaries has nothing to do with the borrowing law and the government must understand the absence of this link and we will not allow it to do so,” expecting that “the loan will not exceed 15 trillion dinars as an actual need for the government.” 
 
He added that "the delay in paying salaries is not the responsibility of the Finance Committee. On the contrary, there was a tendency within the committee to reject the borrowing law, but there is pressure by some members towards its legislation," noting that "Iraq's debt has reached 124 billion dollars."
 

Cougar indicated that the law will not go easy this time, and there will be hosting today, Wednesday, for officials in the Ministry of Finance to discuss the disbursement of employees' salaries, as well as there will be hosting of each of the Minister of Finance and figures from the Ministry of Planning, respectively, in the coming days. 

 

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

Today .. Parliament hosts Finance Ministry officials regarding salary arrears   LINK 

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13 hours ago, 6ly410 said:

Communications confirms its need for World Bank support in policy-making and expertise

https://almasalah.com/ar/news/199915/الاتصالات-تؤكد-حاجتها-لدعم-البنك-الدولي-في-مجال-رسم-السياسات-وتقديم-الخبرات

Baghdad / Al-Masala: The Ministry of Communications announced, on Wednesday, October 28, 2020, its need to support the World Bank in the field of policy-making and providing expertise and training for Iraqi engineers and technicians in the ministry in the field of electronic digital transformation. 

The ministry said in a statement, that "under the direct supervision of the Minister of Communications, Arkan Shihab Ahmed Al-Shaibani, the ministry held its conference on Wednesday with the World Bank, and through a television circle, in the presence of the representative of the World Bank in the Baghdad office, Wasim Al-Miqdadi." 

The statement added, "The Director General of the Planning and Follow-up Department in the Ministry, Adam Al-Quraishi, who represented the Minister, provided a detailed explanation of the five-year plan of the Ministry of Communications, which the Ministry intends to implement during the next five years," stressing the ministry's need to support the World Bank in the field of policy-making and providing expertise And training for Iraqi engineers and technicians in the Ministry of Communications in the field of electronic digital transformation. 

He pointed out that "the ministry does not need financial support, as the majority of the ministry's projects are long-term investment projects." 

And he continued, "The economist in digital aspects from Washington, Jerome Beesia, and Marula Haddad, a specialist in digital infrastructure and the World Bank's coordinator for the communications sector in Iraq, expressed the World Bank's desire to support the Iraqi government's efforts to shift towards e-government and open horizons for joint cooperation with the Ministry of Communications. It is responsible for implementing the government program for the electronic digital transformation of the ministries and institutions of the Iraqi state. 

He noted that "the meeting was attended by Director of the Directorate of Communications and Informatics Infrastructure at the Public Company for Communications and Informatics, Yasser Amer."

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LINK

Communications stresses its need for World Bank support in policy-making and training expertise

 
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18:17 - 10/28/2020
 

Today, Wednesday, the Ministry of Communications affirmed its need to support the World Bank in the field of policy-making and to provide expertise and training for Iraqi engineers and technicians in the ministry in the field of electronic digital transformation.

"The ministry today held its conference with the World Bank, and through a television circle, in the presence of a representative of the World Bank in the Baghdad office, Waseem Al-Miqdadi," the ministry said in a statement received by the information.

The statement added that “the Director General of the Planning and Follow-up Department in the Ministry, Adam Al-Quraishi, deputized the minister, who in turn provided a detailed explanation of the five-year plan of the Ministry of Communications, which the Ministry intends to implement during the next five years,” stressing the ministry’s need to support the World Bank in the field of policy-making and providing expertise And training for Iraqi engineers and technicians in the Ministry of Communications in the field of electronic digital transformation. And he indicated, according to the statement, that "the ministry does not need financial support, since the majority of the ministry's projects are long-term investment projects."

The statement continued that “an economist in digital aspects from Washington, Jerome Pezzina and Marula Haddad, a specialist in digital infrastructure and the World Bank’s coordinator for the communications sector in Iraq, expressed the World Bank’s desire to support the Iraqi government's efforts to shift towards e-government and open prospects for joint cooperation with the Ministry of Communications, which is located. It undertakes the implementation of the government program for the electronic digital transformation of the ministries and institutions of the Iraqi state.

The statement noted that "the meeting was attended by the Director of the Directorate of Communications and Informatics Infrastructures at the General Company for Communications and Informatics, Yasser Amer."

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Always asking for a World support for every issue. By all appearances they’re too corrupt and screwed up to handle anything at any level On their own.

 

Of course all the different/tribal and a host of other agendas coupled with endless debates and arguments just exacerbates everything.

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11 hours ago, DinarThug said:

Today .. salaries are delayed at the Parliament table

alsabaah-51823-810x414.jpg
 

28th October, 2020

 

Today, Wednesday, the Parliamentary Finance Committee will host officials at the Ministry of Finance to discuss employee salaries and the borrowing law, while warning of the danger of moving towards printing a new currency to cover the financial deficit.
 
Committee member Jamal Cougar told Al-Sabah: “The delay in salaries has nothing to do with the borrowing law and the government must understand the absence of this link and we will not allow it to do so,” expecting that “the loan will not exceed 15 trillion dinars as an actual need for the government.” 
 
He added that "the delay in paying salaries is not the responsibility of the Finance Committee. On the contrary, there was a tendency within the committee to reject the borrowing law, but there is pressure by some members towards its legislation," noting that "Iraq's debt has reached 124 billion dollars."
 

Cougar indicated that the law will not go easy this time, and there will be hosting today, Wednesday, for officials in the Ministry of Finance to discuss the disbursement of employees' salaries, as well as there will be hosting of each of the Minister of Finance and figures from the Ministry of Planning, respectively, in the coming days. 

 

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

Today .. Parliament hosts Finance Ministry officials regarding salary arrears   LINK 

 

LINK

Parliamentary finance on employee salaries: the figure provided by the disability law makes us bewildered
 

%D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8-%D8%AC%D9%85%D8%A7%D9%84-%D9%83%D9%88%D8%AC%D8%B1-810x450.jpg

 

29th October 2020


A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Thursday, that the intersection in the statements, sometimes with the government's ability to pay salaries, and sometimes the inability to legislate the borrowing law is evidence of the government's unjustified confusion and anxiety.

In an interview with Alsumaria News, Cougar said, "The government has many powers and doors to secure salaries and the government spokesman spoke clearly about the government being able to pay salaries even if the deficit financing law was not voted on. Therefore, the government must secure salaries as happened in the previous months without Influencing and putting pressure on the market by obstructing the distribution of salaries, which leads to a negative impact on the market and may be a cause of increased corruption," indicating that "the intersection in statements, sometimes with the government's ability to pay salaries, and sometimes the inability, except through the legislation of the borrowing law, is evidence of the government's confusion and concern other than The justification that made it delay the salaries of the employees at this stage despite the fact that Iraq went through more difficult circumstances and the salaries of the employees were not affected.

Cougar added, "The government must review its statements and positions," pointing out that "we have account numbers for the period from the first of last January to the thirtieth of last August for government expenditures, which amounted to 46 trillion dinars, and its resources during this period are approximately 34 trillion dinars, which means in any case." Subtracting the previous figure for the new, this means that the deficit is 12 trillion dinars, and Parliament has previously enacted a law that gives the government the right to borrow 15 trillion dinars, which means that the government does not need any other loans.
 

He stressed, "The number provided by the government in the finance law is a number that we do not find any economic figure who accepts it, which baffles us, which made us delay so much the inclusion of the law for reading inside the parliament because it is numbers that need to be carefully scrutinized considering that we have a real agreement for eight months corresponding to spending A plan for four months, and surprisingly, the planned spending of the four months is greater than the actual spending for eight months, even though the ministries ’expenses, salaries, ration and the health sector are the same, so when the amounts rose and doubled, he asked,“ Is it reasonable that the government actually spent 46 trillion dinars during eight months and wants For four months, 57 trillion dinars, although there was nothing new for the numbers to double?"

 

###########

New comment by Parliamentary Finance on employee salaries and government statements  LINK 

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Having worked in a high security note printing factory it’s not unusual for banks to print new notes as they take old damaged notes out of circulation. We need to member banks don’t generally hold large amounts of hard cash it has to ordered by clients. Central banks print and recycle but generally maintain volume of notes in circulation. They can also be taking old notes out of circulation with old security features and be replacing with new! 

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4 hours ago, DinarThug said:
Subtracting the previous figure for the new, this means that the deficit is 12 trillion dinars, and Parliament has previously enacted a law that gives the government the right to borrow 15 trillion dinars, which means that the government does not need any other loans.
 

He stressed, "The number provided by

In real terms billions...12 billion deficit is nothing to a country that can like Saudi Arabia over 360 billion per year and 100 billion in gas!

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