US report: Al-Kazemi government's policies spark popular anger

[6ly410]

US report: Al-Kazemi government's policies spark popular anger

09:54 - 12/20/2020

https://www.almaalomah.com/2020/12/20/511017/

 

 

Information / translation ...

A report by American AB News confirmed, on Sunday, that the devaluation of the Iraqi dinar by more than 20% in response to a severe liquidity crisis caused by low oil prices, has sparked public anger at a time when the government is struggling to cover its expenses.

The report, translated by the agency / Al-Maaloumah, stated that “the new rates witnessed a significant decrease from the previous official rate of 1,182 Iraqi dinars, which is the first reduction in exchange rates by the Iraqi government in decades.

He added that "the devaluation led to an increase in the possibility of weakening the dinar in the street, and the price actually rose to 1,400 Iraqi dinars to the US dollar on Saturday, up from 1,300 Iraqi dinars last week at currency exchange agents."

Abu Abed, who works in a money exchange office in the Karrada neighborhood in the capital, said, "I stopped exchanging currencies because he refused a customer with a $ 100 bill, saying that he could only sell at the old price of 1,300 Iraqi dinars. Who knows, tomorrow it could be 1800 Iraqi dinars."

The report continued that, “Since the collapse of oil prices earlier this year, Iraq has been suffering from an unprecedented liquidity crisis, as the oil-exporting country has been forced to borrow from the bank’s reserves in dollars to pay nearly $ 5 billion in monthly fees for public sector salaries and pensions. Oil revenues, which constitute 90% of the budget, brought in only $ 3.5 billion on average.

The report continued that "the central bank blamed bad economic policies during the past decade, because poor economic planning and financial policies by Iraqi politicians led to the transformation of Iraq into an oil-exporting country with directing the bulk of state expenditures towards paying money to the bloated public sector." According to his statement.

The report indicated that "the International Monetary Fund expects that the Iraqi economy will contract by 12% this year, more than any other member state in OPEC under the productivity quota, and that its budget deficit will reach 22% of GDP." End / 25 z

[6ly410]

In the picture, an escalation of burning tires by the people of Babylon, in protest to the increase in the price of the dollar  12/22/2020 - 12:08 AM

https://alahadnews.net/145970/العراق/محليات/محليات-2/

[6ly410]

https://alahadnews.net/145696/خاص-بوكالة-العهد-نيوز/

Demonstrations in Baghdad against dollar prices

Author: AhadNA1 On 12/21/2020 - 11:54 AM 335

The cities of Iraq are witnessing clear discontent due to the financial policy pursued by the Al-Kazemi government, from imposing taxes to raising the exchange rates of the dollar against the Iraqi dinar.

Thus, social networking sites are witnessing calls for protests to denounce what the Central Bank of Iraq and the Ministry of Finance did to raise the price of the dollar, which caused the price of goods and foodstuffs to rise one day after the official announcement of the prices of the dollar.

Activists and tweeters launched a campaign to exit the demonstration in the coming days to influence the recent government decisions, which will have a great impact on the life of the citizen who lives on the daily income he receives that is almost not remunerative to meet his daily needs.

On the other hand, the pioneers of social media demanded the necessity of striking the markets and the dollar in another attempt to pressure the government in order to reverse its recent decisions, which greatly confused the street

[horsesoldier]

One whacking big pressure cooker, huh.

[Longtimelurker]

22 minutes ago, horsesoldier said:

One whacking big pressure cooker, huh.

A bunch of well orchestrated pressure cookers placed strategically across the globe to distract from the global reset while awakening the masses to the satanic worshipping deep state that has infiltrated almost all branches of governments.

 

Hold on everyone, the climax is near. Be prepared with meds, food, water etc. 

 

Exciting times ahead and then BOOM! 

 

[6ly410]

 

[Dinarrock]

Yep there it is folks inflation will skyrocket and exactly why I said this 22% devaluation is a very short term play period! Inflation will kill them, the citizens will burn the CBI down and government buildings! They will have to RV this currency within two weeks IMO!!

[Spartakus]

The entire nation of Iraq needs purchasing power. They have the wealth for it, their leaders perhaps lack vision. Let's see what happens beginning of 2021.

[rvmydinar]

If the goi doesn't take a serious and quick step to increase the rate to at least 1190 or less than 1000 ( let's say 500 is even and much better than 1450 now ), then the worst condition that could happen is a coup to take down the government of iraq. And finally, the iqd rate will go down the toilet even worse than 1450 now. Hopefully it is not happening. 

[8th ID]

Yep, I said this is an attempt to make Kazemi look bad. Look at the goons that have started speaking up. Remember, their elections will be in June and Maliki and Iran want their power back now that they think Biden will be president. This won’t last long.

[6ly410]

ERBIL (Kurdistan 24) – Hundreds of Iraqis on Monday in several Iraqi cities held gatherings to protests the recent decision by their government to devalue the Iraqi dinar against the dollar in a bid to cover the budget deficit it had suffered due to low crude prices.

The angry protesters in Baghdad gathered in the famous Tahrir (Liberation) Square, demanding the government to reverse its decision to devalue the dinar by over a fifth against the US dollar, which is now being traded at the bank rate of 1,460 to its American counterpart.

Iraq is a petrol-state where over 90 percent of its budget relies on hydrocarbon sales which have been slashed by low crude prices caused by the coronavirus pandemic. The country is now trying to cover an over-50-trillion IQD budget deficit while the country’s poverty rate has doubled to 40 percent according to the International Monetary Fund (IMF).

In an interview with reporters, Iraq’s finance minister, Ali Allawi, said, “If we hadn’t changed the currency rate or adjusted our expenditures, our (foreign currency) reserves could have run out in six or seven months.”

Citizens are outraged by the currency devaluation as it reduces their purchasing power because the country heavily depends on imports, including essentials such as food. Prices are expected to spike as some retailers in the country have already started to put up new price tags on items.

In the southern province of Nasiriyah, where it recently witnessed waves of anti-government protests demanding reform and better basic services, prices rose by 20 percent in its wholesalers and markets.

“Basic foodstuffs have become more expensive after this sudden change in the price of the dollar,” Saadi Sahib, a pensioner, told AFP.

The Iraqi Council of Ministers prepared the 2021 budget draft on Monday, which consists of plans to cuts in expenditure and lower tariffs on electricity as well as devaluation.

Editing by Karzan Sulaivany

[6ly410]

Representative economy: a rise in the exchange rate will affect the contracting sector

Tuesday 22nd December 2020 53

https://alsabaah.iq/7898/اليوم-انطلاق-فعاليات-الشمول-المالي-العراقي

 

 Baghdad: Farah Al-Khafaf 

 

Despite government reassurances regarding future measures to stabilize the market after raising the dollar’s exchange rate against the dinar, the markets and many specializations are still unstable, and are dealing with caution with these developments, including contracting and real estate. The exchange rate will affect government contracts with the private sector and local companies, especially the contractors segment.
Al-Kinani called for finding appropriate solutions that preserve public money, and ensuring that no damage occurs to the segment of contractors for the sustainability of the development process in coordination with the sectoral authorities and the relevant committees in the House of Representatives.

Al-Kinani indicated that the Economic and Investment Committee is concerned with revitalizing the private sector in accordance with the provisions of Article 94 Second of the Council's bylaws

 Representatives.

Last Saturday, the Central Bank decided to amend the foreign currency exchange rate, as follows:

1450 dinars per dollar is the price of buying foreign currency from the Ministry of Finance, 1460 dinars is the price of selling foreign currency to banks, and 1470 dinars is the price of selling foreign currency to citizens. ”However, Central Bank Governor Mustafa Ghaleb. He emphasized that the Ministry of Finance was the one who formally requested an increase in the exchange rate to 1,450 dinars against $ 100, which led to this market turmoil

 the days.

The governor acknowledged that "the high exchange rate of the dollar has had an impact on the Iraqi market."

In the same regard, Saad Al-Zaidan, a real estate specialist, said, "The construction and real estate sector will be affected by this rise."

Al-Zaidan told Al-Sabah: “Most of what goes into the implementation of contracting is imported materials, so costs will rise, and there are previous contracts that were signed with specific amounts, which may result in problems between contractors and the parties that they agreed and signed with.”

Calling for the need to pay attention to this file, especially that some projects reach hundreds of billions of dollars

 Dinars.

Al-Zaidan warned that "the real estate sector will be affected by the increase in the exchange rate, and by reducing the salaries of employees if approved."

 the last one. As most of the purchases of housing units and construction or building restoration etc. are done by the employees, or the cash mass that is paid to them and most of them are traded

 market". 

Noting that "the rental operations will be affected, especially those that depend on the dollar," calling for the importance of paying attention to these cases and addressing them

 Soon".

 

[6ly410]

A protest stand in front of the Central Bank building on Rasheed Street

https://alahadnews.net/146037/خاص-بوكالة-العهد-نيوز/

 

Author: AhadNA1 On 12/22/2020 - 11:22 AM 277

Our correspondent reported that a protest was organized in front of the building of the Central Bank of Iraq in the capital, Baghdad, by merchants, store owners, kasbah and industrialists.

According to our correspondent, "this pause, which will start at twelve o'clock today, Tuesday, came to demand the cancellation of the decision issued by the Central Bank of Iraq to change the exchange rate of the dollar, which caused the suspension of markets, high prices and confused the economic situation."

He added, "What is required from this pause is to hold a joint session with leaders and economic experts to study solutions and give sober ideas that achieve a financial solution

[horsesoldier]

For decades these poor folks continue ( with what they see as no respite in sight ), to get bent over with a bag a sand for lube from one GOI to to the next. 

They're through with the empty words, promises, graft & corruption.  They need relief now with a vision to a brighter future. What they've gotten so far is gobbledy guck about there's a light at the end of the tunnel crud; that " light " they see at the end of the tunnel, is a Train barreling down on them.

 

I pity these folks, I really do. Iraq can be a major economic & cultural Hub and an inspiration to the M.E. and the globe. Look what they ended up with.

 

I certainly hope what we've been seeing of late on the positive grant you, is what a lot of folks here at DV suggest; Iraq is about to make good and shine. Praying it's so. 

 

[6ly410]

Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2018-08-07 09: 56: 33Z | |

Missanese citizens of “Al-Ahd News”: Merchants are greedy, and the central and local governments bear the responsibility

https://alahadnews.net/146418/خاص-بوكالة-العهد-نيوز/

Author: ahad6 On 12/23/2020 - 12:50 PM 137

Citizens from Maysan Governorate criticized what they called the greed of merchants for raising the prices of local products, while they held the federal and local governments responsible for recklessness and manipulation to raise prices.

Citizens told Al-Ahed News, "The level of the price of Iraqi-made foodstuffs, especially table eggs, fruits, vegetables, rice and others has risen greatly, and has become difficult for the Iraqi citizen, and this matter is borne by the government

[6ly410]

Iraq today

Employees of Al-Mansour Mall and its shopkeepers demonstrate in protest against the closure decision (photos)

Posted 2 minutes ago

Add a comment

News source / Mawazine News

News source / Mawazine News

https://iraqakhbar.com/2820922
03:53 - 12/23/2020

Exclusive - Mawazine News
The employees of Al-Mansour Mall and the shopkeepers
in it organized, on Wednesday, a demonstration to protest the decision of the Council of Ministers, to close the malls, starting
tomorrow, Thursday, for a period of two weeks.
Mawazine News correspondent said,
" The employees of Al-Mansour Mall in Baghdad, and the shopkeepers in it, organized a demonstration inside the
mall's yard , in protest against the decision to close the malls."
Our correspondent added, "The employees
and shopkeepers demanded not to cut off their livelihoods, raising the slogan of cutting off their necks or cutting off
livelihoods."
The demonstrators emphasized that they "own
families who need a source of livelihood and daily sustenance, and the decision to close malls will
have negative effects on them, especially after the increase in the value of the dollar against the Iraqi dinar, and the stagnation of
commercial and purchasing movement in the country."
The Cabinet decided, yesterday, Tuesday, to close
Malls and social facilities for a period of two weeks, starting from tomorrow, Thursday, to confront
the new strain of Corona virus, and to prevent its entry into the country and its
spread