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After More Than A Month Of The Parliamentary Movement .. Setting An Official Date For The Questioning Of The Governor Of The Central Bank: Will The Dollar Price Return To 120 Thousand?


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CNN. Broadcasting Some New News In The News Section - But U Probably KNew That I Was Going To Say That !
 

 

After more than a month of the parliamentary movement .. Setting an official date for the questioning of the governor of the Central Bank: Will the dollar price return to 120 thousand?


2021-01-22
 
a4_2.jpg?resize=696%2C463&ssl=1
 
 

Yes Iraq: Baghdad

 

 

After more than a month has passed since the launch of parliamentary moves to question the governor of the Central Bank, Mustafa Ghaleb Makheif, the House of Representatives set an explicit date for hosting and a frightening interrogation under the dome of Parliament, for several issues, on top of which is the issue of raising the exchange rate of the dollar against the Iraqi dinar.

 

A document issued by the House of Representatives revealed that next Wednesday, January 27, 2021, will be set as a date for the questioning of the Central Bank Governor, Mustafa Ghaleb Mekhaif, against the background of the request submitted by MP Faleh Sari.

 

e5ed1a1b-b546-4263-b260-7c63541890e3.jpg

 

Earlier, MPs revealed efforts and moves to question the central bank governor on files related to monetary policy, especially the currency auction file, as well as the devaluation of the Iraqi dinar and the setting of a new high dollar price from 1190 to 1450 dinars per dollar.

 

The central bank is considered the primary responsibility for maintaining the exchange rate, but the official pricing is primarily the responsibility of the government.

 

The Parliamentary Finance Committee said earlier, that "determining the exchange rate of the dollar is a governmental matter and its exclusive authority is that it is the one who draws and implements the fiscal and monetary policy."

 

As the legal expert Ali Al-Tamimi explained, “The rise in the exchange rate of the dollar to 1450 violates articles 30 and 31 of the Iraqi constitution, which require the state to provide a free and decent life and suitable income, and also this procedure violates Articles 23 and 26 of the International Covenant on Civil and Political Rights, which require All the countries of the world that are members of the United Nations organization abide by it.

He added, “The Central Bank Law No. 56 of 2004 is an independent body under Article 3 of this law and also the Central Bank’s instructions for the year 2017, and therefore it is the one that determines the exchange rate and if there is an increase in the price, it is necessary to control market prices and prevent inflation that will increase poverty, so read “.

 

He pointed out that “there is a possibility to challenge this law if it is legislated by Parliament before the Federal Court, and Parliament can not agree to legislate this law and return it to the government for an amendment because Parliament can do so constitutionally as it represents society, according to Article 61 of the Constitution, as well as Article 13 of the Administration Law Finance 6 of 2019 ”.

link

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11 minutes ago, blueskyline said:

Thanks Thug ! Goid to see You !


Thx BlueSky ! B) 
 

 

And The Multiple Coats Of Super Heavy Makeup - Is The Only Thing That Helps To Make It ‘Goid’ To See Me ! :o 

 

:D  :D  :D 

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12 hours ago, DinarThug said:

Setting an official date for the questioning of the governor of the Central Bank: Will the dollar price return to 120 thousand?

 

8 hours ago, yota691 said:
  
%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%

 

The information / Baghdad ..

The Parliamentary Economic and Investment Committee confirmed, on Saturday, that Parliament will issue recommendations regarding the exchange rate of the dollar in the 2021 budget, noting that determining the exchange rate is a governmental matter and it is its exclusive powers.

Committee member Mazen Al-Faily said in a statement to / Al-Maalouma /, that "the House of Representatives will submit recommendations in the budget regarding the exchange rate of the dollar."

Al-Faily added, "It is up to the government to adhere to the recommendations or not," noting that "the powers of the central bank to draw fiscal and monetary policy and determine the exchange rate."

He pointed out that "discussions are still continuing on the high price of the dollar against the Iraqi dinar, which affected many segments of Iraqi society."

The deputy of the coalition of Iraqis, Hassan Khatti, confirmed in a previous statement that the exchange rate of the dollar against the Iraqi dinar will not remain constant, according to what was set in the 2021 budget. Ended / 25 h

 

LINK

Representative economy: Parliament will issue recommendations regarding the dollar exchange rate in the 2021 budget

 
image.jpeg.b91aa9aeea6211d87850df1d09e1834f.jpeg
 
 
11:11 - 23/01/2021
 
 

The Parliamentary Economic and Investment Committee confirmed, on Saturday, that Parliament will issue recommendations regarding the exchange rate of the dollar in the 2021 budget, noting that determining the exchange rate is a governmental matter and it is its exclusive powers.

Committee member Mazen Al-Faily said in a statement to / Al-Maalouma /, that "the House of Representatives will submit recommendations in the budget regarding the exchange rate of the dollar."

Al-Faily added, "It is up to the government to adhere to the recommendations or not," noting that "the powers of the central bank to draw fiscal and monetary policy and determine the exchange rate."

He pointed out that "discussions are still continuing on the high price of the dollar against the Iraqi dinar, which affected many segments of Iraqi society."

The deputy of the coalition of Iraqis, Hassan Khatti, confirmed in a previous statement that the exchange rate of the dollar against the Iraqi dinar will not remain constant, according to what was set in the 2021 budget.  

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Mazhar Saleh explains through the obelisk the opportunities available for printing the Iraqi currency and its consequences for the standard of living
 

1/22/2021 6:04:42 PM  
 
 
 
Baghdad / Al-Masalla: The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, responded to the black-eyed expectations regarding the disastrous results of the option to print the Iraqi currency - according to the description of analysts and economists - by saying that such a scenario presents a very pessimistic economic prospect, and reminds the people of a stage Dangerous stages of the Iraqi economy during the international siege on Iraq during the dark period 1990-2003.

Saleh told Al-Masalla that public finances relied at the time on the cheap monetary policy and inflation financing at a rate of 95% of its revenues to finance expenditures at that time, that is, by using the mechanism of the monetary authority’s submission to the financial authority and its dominance in accepting government treasury transfers that the public finances consistently issue by the Central Bank. As he considers this government debt instrument as a financial asset matched by liabilities or liabilities, which is the currency issued to finance the absolute budget deficit (and convince the public that it is foreign money or (temporary) monetary wealth, but it is highly eroded in its purchasing power due to what it generates from inflation expectations that the citizen seeks every hour. ) ..

He added: That financial policy dominating the monetary issuance in the levers of its financing at that time led to the creation of a huge monetary mass that generated surplus demand or spending within the overall economy that was not matched by sufficient commodity supply, which reflects the case over the course of twelve years to create continuous inflationary expectations. Caused by the continued strength of demand, it is said.

And he went on: This financial policy, which was founded on the principle of government financing with an inflationary tool based on the super cash issuance, led to sharp and continuous rises in the general level of prices, and the inflation increased in it to become unruly and three decimal places, and the commodity that was equal to 20 dinars in 1990 became equal to 2000 dinars or more. During the 1990s, cash incomes declined and the standard of living declined.

Dr. Mazhar Muhammad Saleh believes that the aforementioned warning is nothing but a very dark scenario to remind the people of a dark period of time that the people lived and their livelihoods were uprooted during the siege of the 1990s and the few years after.

Dr. Saleh expects that the state of Iraq will not reach that, but in spite of that remains the policy of relying on monetary policy to finance the deficit by issuing cash (or monetizing debt) easy government financial leverage and is known (in the event of its continuation) in the knowledge of public finance as one of the constraints of the fragile budget ( The dangerous) because it neglects the inflation indicators and its potential projections as a result of financing the budget deficit by issuing cash without realizing the risks of its repercussions on the level of individuals ’cash income and its deterioration.

The economic advisor to the Prime Minister spoke to the obelisk earlier, about what the Iraqi public finances faced in the years 2020-2021, as the draft federal budget for the year 2021 indicates that the total deficit planned in it will rise to nearly 71 trillion dinars, and the aforementioned deficit will be no less than About 42% of total spending there, and a percentage of not less than 28% of the current GDP.

Saleh told Al-Masalla that the contractionary financial conditions in Iraq have led to dangerous economic manifestations, as the contraction of demand or government spending in the year 2020 has led to a widening of the national income gap, and a drop in growth by about 11% from its rates.

He added that the contraction was accompanied by an increase in unemployment levels that were not less than 25% of the Iraqi workforce, as well as an increase in poverty rates among the population that exceeded 30% of the country's families.  

LINK 

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3 hours ago, DinarThug said:

 

 

LINK

Representative economy: Parliament will issue recommendations regarding the dollar exchange rate in the 2021 budget

 
image.jpeg.b91aa9aeea6211d87850df1d09e1834f.jpeg
 
 
 
 

The Parliamentary Economic and Investment Committee confirmed, on Saturday, that Parliament will issue recommendations regarding the exchange rate of the dollar in the 2021 budget, noting that determining the exchange rate is a governmental matter and it is its exclusive powers.

Committee member Mazen Al-Faily said in a statement to / Al-Maalouma /, that "the House of Representatives will submit recommendations in the budget regarding the exchange rate of the dollar."

Al-Faily added, "It is up to the government to adhere to the recommendations or not," noting that "the powers of the central bank to draw fiscal and monetary policy and determine the exchange rate."

He pointed out that "discussions are still continuing on the high price of the dollar against the Iraqi dinar, which affected many segments of Iraqi society."

The deputy of the coalition of Iraqis, Hassan Khatti, confirmed in a previous statement that the exchange rate of the dollar against the Iraqi dinar will not remain constant, according to what was set in the 2021 budget.  

This seams clear! Rate will change and budget will be set on rate!

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Iraq reveals its securities and moves to loan 6 billion dollars
from the IMF

1601979749664.jpg

 

24th January, 2021


The American "Bloomberg" website quoted Iraqi Finance Minister Ali Allawi as saying that Iraq is in talks with the International Monetary Fund to obtain a loan of 6 billion dollars to support its exhausted economy.

Iraq, the second largest oil producer in OPEC, suffers from an expected deficit in its budget of 71 trillion dinars ($ 49 billion). And "Bloomberg" quoted Allawi, in a report translated by Shafaq News, as saying that if the spending plan in the budget is approved by the Iraqi parliament, then Baghdad will be able to apply for a quick loan of two billion dollars through a special mechanism in the IMF dedicated to supporting the economies of countries. Suffering from the repercussions of the Corona pandemic.

Baghdad could also request $ 4 billion in a diluted loan through another program linked to government reforms, Allawi indicated.

According to "Bloomberg", the assistance that can be provided by the International Monetary Fund can not cover only a small part of the Iraqi deficit, but it can mitigate the loss of more financial reserves in foreign currency.

Last year, the government borrowed more than $ 25 billion from the central bank to pay government employee salaries and commit to other financial dues. Also, the Baghdad government took a decision to devalue its currency to alleviate the pressure on its finances, and concluded a contract with a Chinese company to guarantee "prepayment" of two billion dollars, using oil as collateral for the loan.

Iraq plans to pursue other plans in order to obtain financing to reduce the gap in the budget. According to Allawi, once the spending plan is approved in the budget, the government will move to issue domestic bonds worth five billion dollars to expand its financial base. Allawi said that international loans are somehow expensive, and I do not know if there is an appetite to buy Iraqi bonds.

The Iraqi minister indicated that Baghdad will adhere to its specific quota in OPEC because that helps reduce the risk of a price collapse, praising Saudi Arabia’s sudden decision to reduce its production this month, which helped oil prices rise.

It is possible that the budget deficit will shrink by 25 percent this year if oil prices maintain their current ceiling at $ 55 a barrel, according to what Allawi indicated. The International Monetary Fund expects the Iraqi economy to decline by 12% in the year 2020, which is more than any other member of OPEC.

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56 minutes ago, boosterbglee said:

So........the crooks want to “borrow” more money.......


Do U Mean Like The Ones Continuing To ‘Borrow’ Money That We Don’t Have In Our Government ? :o 

 

image.jpeg.c6693697874d10c71dc18ba693f3582b.jpeg

 

:D  :D  :D 

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How the heck do these people plan on paying GE, Siemens 9for the 125 Gigawatts of power), Deawoo (Port of Faw) and the 40 other companies that have signed MOU's to rebuild Iraq. They can't pay with USD, they can't pay with the current IQD on a deflated program rate that is not International......I read they expect to have the highest Valued Currency in the Region and become the Central Hub of the Middle East.

 

Someone had better get their act together and soon I believe.

 

Karsten

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On 1/23/2021 at 2:05 AM, DinarThug said:

CNN. Broadcasting Some New News In The News Section - But U Probably KNew That I Was Going To Say That !
 

 

After more than a month of the parliamentary movement .. Setting an official date for the questioning of the governor of the Central Bank: Will the dollar price return to 120 thousand?


2021-01-22
 
a4_2.jpg?resize=696%2C463&ssl=1
 
 

Yes Iraq: Baghdad

 

 

After more than a month has passed since the launch of parliamentary moves to question the governor of the Central Bank, Mustafa Ghaleb Makheif, the House of Representatives set an explicit date for hosting and a frightening interrogation under the dome of Parliament, for several issues, on top of which is the issue of raising the exchange rate of the dollar against the Iraqi dinar.

 

A document issued by the House of Representatives revealed that next Wednesday, January 27, 2021, will be set as a date for the questioning of the Central Bank Governor, Mustafa Ghaleb Mekhaif, against the background of the request submitted by MP Faleh Sari.

 

e5ed1a1b-b546-4263-b260-7c63541890e3.jpg

 

Earlier, MPs revealed efforts and moves to question the central bank governor on files related to monetary policy, especially the currency auction file, as well as the devaluation of the Iraqi dinar and the setting of a new high dollar price from 1190 to 1450 dinars per dollar.

 

The central bank is considered the primary responsibility for maintaining the exchange rate, but the official pricing is primarily the responsibility of the government.

 

The Parliamentary Finance Committee said earlier, that "determining the exchange rate of the dollar is a governmental matter and its exclusive authority is that it is the one who draws and implements the fiscal and monetary policy."

 

As the legal expert Ali Al-Tamimi explained, “The rise in the exchange rate of the dollar to 1450 violates articles 30 and 31 of the Iraqi constitution, which require the state to provide a free and decent life and suitable income, and also this procedure violates Articles 23 and 26 of the International Covenant on Civil and Political Rights, which require All the countries of the world that are members of the United Nations organization abide by it.

He added, “The Central Bank Law No. 56 of 2004 is an independent body under Article 3 of this law and also the Central Bank’s instructions for the year 2017, and therefore it is the one that determines the exchange rate and if there is an increase in the price, it is necessary to control market prices and prevent inflation that will increase poverty, so read “.

 

He pointed out that “there is a possibility to challenge this law if it is legislated by Parliament before the Federal Court, and Parliament can not agree to legislate this law and return it to the government for an amendment because Parliament can do so constitutionally as it represents society, according to Article 61 of the Constitution, as well as Article 13 of the Administration Law Finance 6 of 2019 ”.

link

Article 103 First
The Central Bank of Iraq, the Board of Supreme Audit, the Communication and Media Commission, and the Endowment Commissions are financially and administratively independent institutions, and the work of each of these institutions shall be regulated by law.
• Establishment of military courts
• Human rights commission
• Counter corruption commission • Electoral commission
• Human rights commission
• Central bank
constituteproject.org
PDF generated: 20 Jul 2020, 22:03

Second
The Central Bank of Iraq is responsible before the Council of Representatives. The Board of Supreme Audit and the Communication and Media Commission shall be attached to the Council of Representatives.
Third
The Endowment Commissions shall be attached to the Council of Ministers.

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On 1/24/2021 at 11:05 AM, DinarThug said:

Iraq reveals its securities and moves to loan 6 billion dollars
from the IMF

1601979749664.jpg

 

24th January, 2021


The American "Bloomberg" website quoted Iraqi Finance Minister Ali Allawi as saying that Iraq is in talks with the International Monetary Fund to obtain a loan of 6 billion dollars to support system" rel="">support its exhausted economy.

Iraq, the second largest oil producer in OPEC, suffers from an expected deficit in its budget of 71 trillion dinars ($ 49 billion). And "Bloomberg" quoted Allawi, in a report translated by Shafaq News, as saying that if the spending plan in the budget is approved by the Iraqi parliament, then Baghdad will be able to apply for a quick loan of two billion dollars through a special mechanism in the IMF dedicated to supporting the economies of countries. Suffering from the repercussions of the Corona pandemic.

Baghdad could also request $ 4 billion in a diluted loan through another program linked to government reforms, Allawi indicated.

According to "Bloomberg", the assistance that can be provided by the International Monetary Fund can not cover only a small part of the Iraqi deficit, but it can mitigate the loss of more financial reserves in foreign currency.

Last year, the government borrowed more than $ 25 billion from the central bank to pay government employee salaries and commit to other financial dues. Also, the Baghdad government took a decision to devalue its currency to alleviate the pressure on its finances, and concluded a contract with a Chinese company to guarantee "prepayment" of two billion dollars, using oil as collateral for the loan.

Iraq plans to pursue other plans in order to obtain financing to reduce the gap in the budget. According to Allawi, once the spending plan is approved in the budget, the government will move to issue domestic bonds worth five billion dollars to expand its financial base. Allawi said that international loans are somehow expensive, and I do not know if there is an appetite to buy Iraqi bonds.

The Iraqi minister indicated that Baghdad will adhere to its specific quota in OPEC because that helps reduce the risk of a price collapse, praising Saudi Arabia’s sudden decision to reduce its production this month, which helped oil prices rise.

It is possible that the budget deficit will shrink by 25 percent this year if oil prices maintain their current ceiling at $ 55 a barrel, according to what Allawi indicated. The International Monetary Fund expects the Iraqi economy to decline by 12% in the year 2020, which is more than any other member of OPEC.

 

LINK

International Monetary Receives an "emergency request" from Iraq

International Monetary Receives an

 

25th January, 2021

 

The International Monetary Fund announced that it had received a request for emergency assistance from Iraq, indicating that talks are underway between the two parties in this regard.
 
"The Iraqi authorities have requested emergency assistance under the Rapid Financing Instrument, in a long-term arrangement, to support the planned economic reforms," the fund said in a statement.

He added, "Discussions are ongoing regarding the authorities' request for emergency assistance."

The Minister of Finance Ali Allawi told "Bloomberg" yesterday, that Iraq is in talks with the Fund to obtain a loan worth 6 billion dollars. He indicated that Iraq may request an additional $ 4 billion in low-cost loans through another program linked to government reforms.

 

########

Iraq receives emergency financial assistance from the International Monetary Fund  LINK 
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Al-Halbousi and the Emir of Kuwait discuss activating the joint governmental and parliamentary committees between the two countries

 
Al-Halbousi and the Emir of Kuwait discuss activating the joint governmental and parliamentary committees between the two countries
 
 
01/25/2021 17:48:55
 
Speaker of Parliament meets Emir of Kuwait

Parliament Speaker Muhammad Al-Halbousi met today, Monday, with his accompanying delegation, His Highness the Emir of the State of Kuwait, Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah.

The meeting discussed cooperation between the two brotherly countries, strengthening bilateral relations, strengthening joint economic relations, activating joint governmental and parliamentary committees between the two countries, and stressing the necessity of activating reconstruction projects and the outcomes of the international donors conference.

During the meeting, Al-Halbousi stressed Iraq's keenness to strengthen relations between the two neighboring countries in all fields, appreciating Kuwait's positions in support of Iraq.

For his part, the Emir offered his condolences to the victims of the two bombings that targeted Tayaran Square in Baghdad, expressing the State of Kuwait's condemnation and condemnation of these two actions that targeted the lives of innocent people and destabilized security and stability, again supporting his country and standing with Iraq to face the challenges it is going through, and achieve development and stability. 
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Al-Hims: We are working to raise the value of trading to 5 billion dinars during the next 3 years

25779.jpg

 

25th January, 2021

 

The Chairman of the Securities Commission, Faisal Al-Heimas, announced, on Monday, the Commission’s intention to raise the volume and value of trading to 5 billion dinars within three years

Al-Himas said in an interview with "Al-Eqtisad News", that the authority's focus during the next 3 years is to activate the movement of trading in the market and raise the value of trading to 5 billion dinars during one day. He added that it is difficult during the current stage to offer oil companies to subscribe in the Iraqi market for securities because of the lack of liquidity in the Iraqi market

Below is the full text of the dialogue with the President of the Iraq Securities Commission, Faisal Al-Haimas

* Has the outbreak of Corona virus and the financial crisis affected the activity of stock markets in Iraq

A: Certainly, the double crisis, due to the Corona epidemic that led to the imposition of a curfew, and the collapse of oil prices, which created an internal crisis for the Iraqi economy to depend on, affected the Iraqi stock market, because it was closed during the curfew period, which led to a significant decrease in trading volume, We hope that with the recovery of oil markets and the receding of the Corona pandemic, the market will recover

* What are the reasons for the suspension of the Erbil Stock Exchange so far

The Erbil market is still in the establishment stage, as it needs logistical matters in terms of infrastructure, such as information systems and the National Depository Center, which must be available before the opening of any market

* Is there any intention to open stock markets in the south

The Securities Commission is open to all governorates of Iraq in the north, south or west to open a new market for securities, but we received a verbal request from Basra Governorate, to open a stock market, but so far it has not been formally presented

* The white paper put forward by the government focused on developing the Iraqi market for securities, what are your plans for harmony with the paper

A previous work was carried out under the supervision of the General Secretariat of the Council of Ministers and the Council of Advisors in 2010 and there was a study dedicated to allocating public companies to be listed in the market, and in line with the global requirements for initial public offerings, and the white paper supported this confrontation and will raise the efficiency of companies, and its timing is appropriate now because of the existence of Profitable public companies that could be absorbed by the market. We are working with the Ministry of Finance to gather ideas to start the initial proposals of some of these companies, which we cannot mention now due to the specificity of the matter

* Saudi Arabia, for example, when "Aramco" was listed on the stock exchange revived its market, why doesIraq not list some of its oil companies to improve its financial markets

A: This is a strategic choice for the country itself. If there are decisions issued by the Council of Ministers in this regard, we will be ready, but the matter is not limited to the oil sector companies. There are profitable companies that serve other sectors

 I think starting with such companies would be better because their valuation will be at a smaller amount than the oil companies. With the decline of liquidity in the Iraqi market, I think that offering oil companies is difficult to absorb in the market, because the initial offerings must be depressed, if there is a subscription that must be covered, and this process is a small start that is better than a large public offering that fails and affects the market

* The volume of transactions in the Iraqi market for securities is relatively small in addition to the fact that the trading hours are very few. What are your procedures in this regard

During the past year, we asked the Iraq Stock Exchange to increase trading hours and work to establish two evening sessions, and the market promised to increase trading hours during the next month to 3 hours a day, which are the same trading hours in the UAE

* Are there ideas to establish second markets for goods, for example

The idea is present and is being studied with the Iraq Stock Exchange, but the matter is not that easy, as it needs special legislation and we seek to establish it during the current year by walking with steady steps

* There are more than 50 companies that have been suspended due to lack of financial data and other reasons, such as a securities body. What are your steps to resume their work

We were able to return 5 companies to circulation, noting that they did not complete their financial statements due to the emergency conditions that occurred after the outbreak of the Corona pandemic, but after these companies provided evidence of their budget submissions to the Financial Regulatory Board and also proof that they answered the inquiries of the Financial Supervision Bureau. The Commission has also increased the period for submitting financial statements to a year and a half in order to help it return to the market, because stocks are frozen funds for investors and unfairly are frozen for reasons outside the scope of the company’s control. We met with 8 joint-stock companies that did not submit their data and whose financial data had not been provided for 5 years for various reasons, including the seizure of the assets of the company by ISIS, and these can only be dealt with after financial reports and data proving losses of such assets and requires more time to process them, and we try to return shares to circulation

* Will these companies be brought back to the second market or will they create their own market

Currently, they are returned to the second market, and we are studying the idea of the third market, but we are afraid of it because there may be losses that are not acceptable to us as a securities body because we are working to protect investors and their money

* There are companies that make big profits but are not listed on the stock exchange, perhaps for reasonsrelated to tax evasion. Are there assurances presented by you as a body to these companies

- This matter includes several obligations for companies to list. There are discussions with the Iraq Stock Exchange in this regard, and as you know that any market needs new listings in order to increase its activity and this topic has several joints and dimensions. We have ideas related to the initiation of public and mixed companies to enter the market, and our focus is to have more than one listing during this year

* There are large companies that deal with the government to implement projects, and they are joint-stock or private companies. Why does the government not force them to list in the Iraq Stock Exchange

The market economy should be open without compulsion from the government, but the latter has contributions in some companies that may urge them to be part of the Iraq Stock Exchange and this is what we are working on now

* Small investors suffer from some problems, including representation on the board of directors and non-distribution of profits, and this is part of the reasons for investors' reluctance

On Investor's Day (held on December 11, 2020) we raised this topic, especially the topic of "cumulative voting". The authority is working on adopting this decision and issuing instructions regarding the matter in cooperation with other sectoral bodies such as the Central Bank, and it will be implemented during the current year and specifically during the first quarter

* What is your strategy for the next 3 years

Our focus during the next phase is on revitalizing the market, and we are working to raise trading from 3 billion dinars to 5 billion dinars during one day. This is achieved in the event that the stalled companies return to their work in the market, in addition to providing a "custodian" service to lure foreign portfolios into the Iraq Stock Exchange, through which we seek to provide protection to investors by guaranteeing their investment

* There are companies operating in Iraq that are part of international companies, why not double-listed them with the company in Iraq

Dual listing has a lot of costs and has control systems that can conflict from one market to another. The idea was proposed more than once, but this experience may have negative effects on the market itself because it is possible that the parent company has more trading at the expense of the company in Iraq and the experience took place in the Azerbaijani market and it was a failed experiment

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“ ..... work is underway “ - kinda suspicious that this may be the new “ soon “

or “ in the coming days “ ???;)

 

Hope not....would appear time is running out for these folks to get those reforms and such kick started: seeing as how elections are coming this June ( I think that’s still holds ). 
If they still haven’t initiated reforms by then ( there’s real disappointment ), I don’t think any politicians could run on a platform of “ Trust me, Re-elect me we’re real close to Getting it Done “

Sure has been a real Pecos Bill Cyclone of late over there.

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On 1/23/2021 at 3:00 PM, DinarThug said:

 

 

LINK

Representative economy: Parliament will issue recommendations regarding the dollar exchange rate in the 2021 budget

 
image.jpeg.b91aa9aeea6211d87850df1d09e1834f.jpeg
 
 
11:11 - 23/01/2021
 
 

The Parliamentary Economic and Investment Committee confirmed, on Saturday, that Parliament will issue recommendations regarding the exchange rate of the dollar in the 2021 budget, noting that determining the exchange rate is a governmental matter and it is its exclusive powers.

Committee member Mazen Al-Faily said in a statement to / Al-Maalouma /, that "the House of Representatives will submit recommendations in the budget regarding the exchange rate of the dollar."

Al-Faily added, "It is up to the government to adhere to the recommendations or not," noting that "the powers of the central bank to draw fiscal and monetary policy and determine the exchange rate."

He pointed out that "discussions are still continuing on the high price of the dollar against the Iraqi dinar, which affected many segments of Iraqi society."

The deputy of the coalition of Iraqis, Hassan Khatti, confirmed in a previous statement that the exchange rate of the dollar against the Iraqi dinar will not remain constant, according to what was set in the 2021 budget.  

parliamentary finance: iraq is likely to have monthly rather than annual budgets %D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-768x480-2

[size=40]parliamentary finance: iraq is likely to have monthly rather than annual budgets
parliamentary finance: iraq is likely to have monthly rather than annual budgets 18a2308669e075d383e7b415f19d9447?s=26&r=gAuthor: Ahad7 On 09/5/2020 - 12:15 PM  29[/size]

The Parliamentary Finance Committee announced, on Saturday, that Iraq may have monthly, rather than annual, budgets as before.
Member of the Finance Committee, Shirvan Mirza, said, "The variation in oil prices and the possibility that Iraq will not have an annual budget, as happened in previous years, is very likely."
He added, "Maybe the budget will be monthly, according to oil prices and the movement of global markets, and imports and expenditures will be determined accordingly."
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Four American recommendations to Biden regarding Iraq: Al-Kazemi and Iran take the lead

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25th January 2021

 

The American Democracy Defense Foundation has presented four basic recommendations that the administration of US President Joe Biden must take to deal with the Iraq file in the next stage, including support for Mustafa Al-Kazemi and pressure on the forces close to Iran.

The recommendations on Iraq came within the framework of a special report, translated by Shafaq News Agency, within a file that includes many countries, including China, Iran, Lebanon, Russia, Syria, India and others, in addition to important issues such as energy, defense, human rights, cyberspace, Sunni jihad, international organizations and others, under the title "Who Trump to Biden ... the way forward for American national security, "and supervised by researchers John Hana and David Idsnick.

Despite Trump's mandate, which has been tarnished by many errors, according to the introduction to the 152-page report, the Foundation for Defense of Democracy considers that four years of policymaking and the lessons that can be drawn out from it cannot be ignored and that has troubled allies as well as enemies and research centers as well. In the report devoted to Iraq, the American Institute, after reviewing the Iraqi situation and Trump's policy during the past four years in Iraq, provides four basic recommendations for the new Biden administration.

First: Reaching a common understanding to maintain a small US military presence in Iraq

The American Institute made clear that in the face of tremendous pressure from Iran-backed groups, Prime Minister Mustafa Al-Kazemi has said publicly that Iraq still needs US military support to fight ISIS and to strengthen Iraqi security forces. He also condemned the attacks targeting US soldiers and stressed Iraq’s responsibility to protect them. It is imperative that the Biden administration take advantage of Al-Kazemi's interest in reviving strategic relationships.

In order to achieve this, Washington must reach a new security understanding that re-frames the American role in supporting Iraq's security and independence, including cooperation to curb the influence of Iran and the forces loyal to it. It is important that the small American military presence serves the ongoing US efforts to combat ISIS and Iran in eastern Syria.

Second: Giving priority to initiatives that strengthen Iraq’s economy and undermine Iranian influence

The report considered that the confluence of the global oil price collapse, the Corona epidemic and the massive corruption, left Iraq vulnerable to an economic collapse. There are many ways in which the United States can support the Iraqi economy and US companies, while at the same time undermining Iran's influence. There are many of these ideas on the table now and Al-Kazemi fully supports them and need implementation, including major agreements by American companies to strengthen the Iraqi electricity network and the gas sector, which means that Iraq is heavily dependent on Iranian exports.

In the same context, the United States should encourage the Gulf states to invest in the infrastructure of Iraq in the electricity and gas sectors, and to move quickly to connect Iraq with their energy grids.

In the financial world, it is imperative for the United States to support an agreement with the International Monetary Fund to help Iraq alleviate the large deficit in the Iraqi budget, but on the condition that the government implement structural reforms to its economy by closing the outlets of corruption, which Iran and its allied powers are among the most beneficiaries of them.

Third: Using American influence through a prudent but focused strategy to help Al-Kazemi resist Iranian pressure, ensure free and fair elections, and strengthen the Iraqi peaceful protest movement.

The American Institute stated that the United States has great political influence in Iraq and internationally that Washington can use to advance its goal of establishing a sovereign and independent Iraq in close partnership with the United States. By working with its closest effective allies, the United States should encourage the establishment of a coalition of more moderate forces in the Iraqi parliament to support Al-Kazemi's economic reforms, his position in favor of the continuation of the American military presence, and his call for early elections according to a new electoral law that penetrates the strongholds of sectarian parties and militias in the political system.

The United States and its allies must also provide the absolute support for the United Nations to monitor the elections to ensure their fairness, transparency and legitimacy. In addition, the United States needs a policy that helps the Iraqi demonstrators by publicly denouncing the violence practiced against them, punishing the violators, and supporting the political establishment of their movement to be effective in reform and defending the sovereignty of Iraq.

Fourth: Maintaining US pressure on the groups loyal to Iran

The institute considered that by cooperating with the Iraqi government and outside companies as much as possible, the United States should be able to punish a long list of Iraqi players who include pro-Iranian militia figures, high-ranking party leaders and former officials, convicted of corruption, human rights violations, terrorism, and destabilization. Iraq.

The report indicated that efforts should focus on identifying and freezing financial accounts abroad and returning them to the Iraqi people. While the United States should strongly support the Iraqi government's efforts to confront the grave threats to American personnel, it must remain ready to act unilaterally if the government shows that it is unwilling or unable to do so on its own.

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