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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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Parliamentary Finance resolves the controversy over changing the price of the dollar in the budget

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5th February, 2021


The Parliamentary Finance Committee responded, on Friday, to the requests of members of Parliament regarding changing the price of the dollar in the budget law, while it confirmed that the price is fixed according to what is specified by the government.

Committee member Shirwan Mirza told Shafaq News Agency, "The price of the dollar is fixed and has not been tampered with, considering that it was determined according to the financial policy of the Iraqi government."

He added that "the requests of members of the House of Representatives regarding changing the exchange rate of the dollar against the Iraqi dinar, do not go beyond being requests only," stressing that "the Parliamentary Finance Committee does not have any authority to change the exchange rate."

Mirza continued, "The Parliamentary Finance Committee worked according to the powers granted to it only to amend and replace some articles of the budget law for the year 2021."

A member of the Parliamentary Economic and Investment Committee, Mazen Al-Faily revealed earlier to Shafaq News, that a request had been submitted by a group of deputies to change the exchange rate of the US dollar to 130,000 Iraqi dinars in the general budget law for 2021.

The Central Bank of Iraq had decided to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to the dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration of oil prices.

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Parliamentary Finance resolves the controversy over changing the price of the dollar in the budget  LINK

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Legal expert explains how to recover smuggled money from Iraq

 
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10:40 - 05/02/2021
 

The legal expert, Ali Al-Tamimi, explained the mechanism for Iraq to recover its smuggled money abroad.

Al-Tamimi told "the information", "The best international move to retrieve the money smuggled abroad, which is estimated at 500 billion US dollars, can be recovered through the money laundering agreement for the year 2005 and signed by Iraq in 2007 with the help of these countries."

He added, Iraq can recover its money as well according to Article 28 of the Iraqi-American Agreement of 2008, and also according to Article 50 of the United Nations Charter, which affirms the right of countries fighting organizations placed under Chapter VII of the United Nations Charter to request the assistance of the United Nations organization and Iraq was fighting ISIS terrorist subject. Under Chapter Seven under Resolution 2170 of 2014”.

And that Iraq has an amount of 65 billion dollars in the US Federal Reserve frozen by the previous regime, and Iraq can claim it according to the above agreement for the year 2008.” 
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This article is spot on. Do you see the list of Countries that support the reforms that Iraq must implement. I wish they would freeze Maliki's account. I think he is worth several hundred billion dollars that he stole while he was the Prime Minister for 8 years. It is time for Iraq to s#$t or get off the pot!! If Khazemi is serious about this, then he has all of the help he needs at his disposal. I have never seen so many Countries come to the aid of one Country all at one time. What exactly are they not telling us...!! Great Article!!

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2 hours ago, GreedyDinar07 said:

What exactly are they not telling us...!!


Idk - But Let Me Get A Couple Of My Best Mimes On This And Get Back To Ya ! :o

 

image.gif.28602c0348f381afe600d24d7beb4611.gif
 

:D  :D  :D 

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32 minutes ago, DinarThug said:


Idk - But Let Me Get A Couple Of My Best Mimes On This And Get Back To Ya ! :o

 

image.gif.28602c0348f381afe600d24d7beb4611.gif
 

:D  :D  :D 

So is that the same as Psaki repeatedly saying she will “circle back” to the question??  :lol: She knows Nuttin bout Nuttin :lol:

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A map that creates an economic coup in Iraq and turns it from a station for selling oil to a production revolution, with the contribution of 4 continents around the world


2021-02-05
 
 
download-1.jpg?resize=260%2C194&ssl=1


 

Yes Iraq: Baghdad

 

The economist Ahmed Al-Salami mentioned a “map” and described it as making an economic difference in Iraq, as a first stage and within a short, medium and long-term time that makes our country make a quantum leap from a fuel station to selling oil, unemployment, underdevelopment, corruption, poverty, stagnation, immigration and violence to a comprehensive productive economic revolution.

 

He stated that “my wish is for the prime minister to undertake an economic trip around the world for direct contracting without any intermediary and direct and personal supervision with advisors in an economic contract revolution with an elite of international companies' giants in exchange for a pledge to provide protection for rights and the security of the regions of Iraq.

“.

He noted that the tour includes continents:

Asia:

# China:

Contracting with companies to supply industrial production lines that include light industries - food - clothing - manufacturing - cleaning - cosmetics - medicine - furniture - cigarettes - and cement factories - contracting with trademarks of companies in the real estate and transportation sector.


# Japan:

Contracting on assembly lines for Toyota Nissan Mitsubishi cars and manufacturing parts thereof - associated gas power stations and refinery waste - Al-Faw Grand Port - a new airport in Baghdad - Roads - Contracting with trademarks

 

-#South Korea :

Contracting with Samsung Group of companies to open branches for light and technical industries - Hyundai and Kia to assemble cars - vertical and horizontal residential real estate construction companies. Roads, railways, Baghdad subways, and suspension train - agriculture - contracting with trademarks

 

India: The experience of farming.

 

Second: Australia:

Contracting to establish large investment farms for cultivation on water wells and rivers, and to raise livestock, main livestock, for the purpose of milk, meat, leather and wool. And mechanization.

Contracting brands

 

# Third: Europe:

- #Germany :

Contracting with Siemens electricity, communication systems, electronic control systems, electrical tools, as well as in medical equipment, in the field of construction and building, in the business services sector, household appliances, air conditioners, mobile phones, home alarms, and laptops.

Volkswagen Group

Contracting brands

 

#France :

A contract with Total to establish the largest oil fields investment.

Establishing a new airline with Airbus.

Cruise yachts, transport and cargo ships

Contracting brands

 

#Russia :

Gazprom - a comprehensive investment for the natural gas industry and accompanying to make Iraq enter the world of gas industry and export to the world

 

Fourth # North America:

#United State :

General Matters - Ford - ExxonMobil Oil - and Shell - for contracting, each according to its competence.

 

Visits to the European Community - Canada - Brazil - Turkey - Iran - South Africa - Thailand - Malaysia - Singapore

To copy trademark trials and contracts -

# Note, this is funded from percentages on oil sold for the benefit of companies and shares in production and management for specific, medium and long-term periods of time and payment in terms of

A stock exchange is established for all the above companies and others to participate in shares of citizens as investors and speculators for the Iraqi and foreign private sector and citizens to participate in private shares, and the government's share in the stock exchange is privatized for the benefit of sober companies and individuals at least 51% in return for taxes.

There are great consequences, as well as financial, political and security difficulties, corruption and war.

It is better to wade in the midst of the sea than on a remote island with a boat.

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Talabani: Baghdad has conceded all oil and non-oil revenues to the region in exchange for our agreement to the presence of a team to monitor border crossings

 

24891.jpg

 

6th February, 2021

 

The Vice President of the Kurdistan Regional Government, Qubad Talabani, announced that the agreement concluded between the governments of Mustafa Al-Kazemi and the Kurdistan region guarantees that the region will receive all oil and non-oil revenues in exchange for approval to send a technical team to monitor border crossings in the region

Qubad said, in an interview published by the National News Center website and seen by Al-Iqtisad News, “The political forces are constantly accusing the Kurds of possessing Basra oil, but we are in fact not responsible, and the proof of this is that the region’s share of the state’s full budget, It is 5 percent, but from 2014 until 2018 we did not receive any sums from the federal government,” indicating that “if these sums were spent on investment projects in Basra or Dhi Qar, we would be happy, but these sums disappeared without knowing where they went ?!

He added, “In the eighth month of the year 2020, there was an agreement between the governments of Baghdad and Erbil, whereby the federal government informed us that oil and non-oil imports are all for the region, and they also pay us 320 billion dinars per month, in exchange for agreeing to send a technical team to monitor border crossings at Territory. He continued, "This agreement did not last for long, as the federal government sent the amount for only two months, and then it stopped," wondering: "Where did you spend these sums? Was it spent on Baghdad, Basra, or Salah al-Din. He pointed out that "the Kurdistan region has become the (peg) on which files of corruption and problems are attached," noting that "if the Basra problem was solved by the region's entitlement from the funds allocated to it, we would have given up this benefit

Talabani stressed, "The Kurdistan region is ready to implement all obligations with the federal government, whether it is about oil of 250 thousand barrels per day, or even non-oil resources in the region's outlets, according to the laws in force within the constitution, but in return the rights of the region must also be provided.  He pointed out that “the main source of imports in the region is oil, and through these imports many forms of expenditures are secured in the region. Therefore, if we do not have such a single source, then this means that there are no guarantees that we will obtain our expenditures that we can from during which the debt incurred by the region should be paid

He added, "If we talked from a technical point, the Federal Ministry of Finance has registered figures that the number of employees in the Kurdistan region is 683 thousand employees, while there are more than 751 thousand employees in the region, how can we pay salaries at the time to employees whose names do not exist in the financial system?" Federal If we do not have our own source of income, ”affirming that“ there is a difference in the number of employees registered with the Federal and Regional Finance by about 70 thousand employees

And he continued, we hope to build a new relationship related to oil and finance with the central government, and we have faith that this will be achieved step by step, until we reach the establishment of a new Sumo company in which there are members of the Board of Directors, but we are still at the beginning and this needs to work more to increase confidence between the two parties

Talabani said, "What the Federal Oil Minister talked about, regarding linking all the oil of the Kurdistan region to one administration of the federal government, is an unconstitutional request

The deputy prime minister of the provincial government explained, "The majority of the questions were related to the region's expenditures, the number of employees and the expenses, but I told them to leave the discussion about the sources of financing for the time being, because each budget is made up of several parts that include imports, expenses, deficits and debts. He added that "there are many types of operating expenses, pensions, social care, grants to political prisoners and martyrs, in addition to the development of regions and the operational budget. All of these are expenditures, debts and loans, and must be disbursed on a monthly basis

He noted that "these expenditures are covered by the sources of funding that we have, which is the central government, in addition to the oil and non-oil revenues that we have, and therefore the discussion with the Finance Committee should be about the expenditures from what comes from and how they are covered, not just about the revenues. He pointed out that "the region wants to solve the outstanding problems with Baghdad in the fastest way in order to be implementable. We may not be 100% happy with what may emerge from these dialogues, but we are working at least step by step forward, we are with any result that may be implementable." , Calling on everyone to "move away from the electoral atmosphere, emotion and slogans, and to search for regional solutions for this stage

##########

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Financial Committee: Blocks move to add a new text to Kurdistan's share of the general budget

 

image.jpeg.1c197cc9d5fb6767ae2e5a05e56026d6.jpeg

 

6th February, 2021


The Parliamentary Finance Committee confirmed, on Saturday, that the articles on the Kurdistan region’s share in the draft federal budget law for 2021 have not been resolved yet, pointing out that there are blocks moving to add a new text.

Committee member, Representative Jamal Cougar, said that "the articles on the share of the Kurdistan region in the draft federal budget law for the year 2021 have not been resolved yet."

He added, "The delay comes from other blocs and not from the Kurdish blocs. We have confirmed our commitment to the articles contained in the draft budget law, as stated by the federal government."

Couger explained, "The rest of the blocs said that they want to add a new text related to the Kurdistan region’s share to the draft budget law, but so far those blocs have not presented the new text, and whenever it is rumored about that, it is incorrect." 

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Minister of Finance: Erbil's relationship with Baghdad is outside the concept of the state and the Peshmerga is not subject to authority

 
%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF.jpg
 
 
11:32 - 06/02/2021
 
 
The Minister of Finance, Ali Allawi, confirmed, on Saturday, that there is a major defect in the relationship between Baghdad and Erbil and that the Peshmerga are not subject to authority, while he indicated that the Central Bank and the International Monetary Agency offered to raise the price of the dollar.

Allawi said in a televised interview followed by the "information", "I believe in implementing the administrative and economic federalism system in the country." It will reduce corruption in the currency auction.” Iraq in order to solve the existing disputes on the condition that it be under the supervision of the center."

He added, "The relationship between Kurdistan and the federal government is outside the concept of the federal state, as oil is sold from the region outside the supervision of the federal state, as well as the spread of the Peshmerga in Kurdistan and other regions, which is formally subject to the center," indicating that "most of the former prime ministers try to remain silent about that." Constitutional violations due to their fear of the Kurdish parliamentary bloc.
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The Kurdistan Patriotic: We support the law that brings fairness and justice

image.jpeg.2fc35f7ebad7c4d59401088ba6569066.jpeg

 

6th February, 2021


Ala Talabani, head of the Patriotic Union of Kurdistan Parliamentary Bloc, expressed, on Saturday, her support for the draft general budget bill, provided that it achieves justice and fairness for all Iraqis without exception.

Talabani said in a tweet on the Twitter platform: "We support and vote for a budget law that achieves fairness and justice for every Iraqi citizen without discrimination, and reconsiders the distribution of the state's oil and non-oil resources in accordance with the constitution."

It called for "Speeding up the legislation of the oil and gas law, which has been suspended" from legislation since 2007. 

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Washington enters the mediation line between Baghdad and Erbil

 
%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF.jpg
 
 
17:17 - 02/06/2021
 
 

A Kurdish political source revealed, on Saturday, that the American side entered the mediation line between Baghdad and Erbil, with the aim of reaching an agreement on the budget.

The source said to Al-Maaloumah Agency: “After the regional government’s inability to reach an agreement on fixing the region’s share of the budget, in light of the insistence of a group of political forces to hand over Kurdistan all its oil and financial revenues, the regional government has joined the United States of America in the mediation line.”

He added that "the President of the Kurdistan region, Nechirvan Barzani, as well as Prime Minister Masrour Barzani, held a series of special meetings during the past two days, with the US ambassador to Iraq, and also a high-level official in the US State Department."

He pointed out that “the Kurdish leaders asked the Americans to mediate with Baghdad and put pressure on it, in order to agree to hand over the region to its share of the budget, for fear of major disturbances and demonstrations in the cities of Kurdistan, especially in light of the economic crisis and the great suffering of the citizen, as a result of not receiving salaries for many months.“

And the Kurdish delegation that visited Baghdad recently failed to reach an agreement that would guarantee fixing the region’s share in the budget, in light of demands from a number of political forces to hand over the region to its oil in full. 

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2 hours ago, DinarThug said:

Talabani: Baghdad has conceded all oil and non-oil revenues to the region in exchange for our agreement to the presence of a team to monitor border crossings

24891.jpg

 

6th February, 2021

 

The Vice President of the Kurdistan Regional Government, Qubad Talabani, announced that the agreement concluded between the governments of Mustafa Al-Kazemi and the Kurdistan region guarantees that the region will receive all oil and non-oil revenues in exchange for approval to send a technical team to monitor border crossings in the region

Qubad said, in an interview published by the National News Center website and seen by Al-Iqtisad News, “The political forces are constantly accusing the Kurds of possessing Basra oil, but we are in fact not responsible, and the proof of this is that the region’s share of the state’s full budget, It is 5 percent, but from 2014 until 2018 we did not receive any sums from the federal government,” indicating that “if these sums were spent on investment projects in Basra or Dhi Qar, we would be happy, but these sums disappeared without knowing where they went ?!

He added, “In the eighth month of the year 2020, there was an agreement between the governments of Baghdad and Erbil, whereby the federal government informed us that oil and non-oil imports are all for the region, and they also pay us 320 billion dinars per month, in exchange for agreeing to send a technical team to monitor border crossings at Territory. He continued, "This agreement did not last for long, as the federal government sent the amount for only two months, and then it stopped," wondering: "Where did you spend these sums? Was it spent on Baghdad, Basra, or Salah al-Din. He pointed out that "the Kurdistan region has become the (peg) on which files of corruption and problems are attached," noting that "if the Basra problem was solved by the region's entitlement from the funds allocated to it, we would have given up this benefit

Talabani stressed, "The Kurdistan region is ready to implement all obligations with the federal government, whether it is about oil of 250 thousand barrels per day, or even non-oil resources in the region's outlets, according to the laws in force within the constitution, but in return the rights of the region must also be provided.  He pointed out that “the main source of imports in the region is oil, and through these imports many forms of expenditures are secured in the region. Therefore, if we do not have such a single source, then this means that there are no guarantees that we will obtain our expenditures that we can from during which the debt incurred by the region should be paid

He added, "If we talked from a technical point, the Federal Ministry of Finance has registered figures that the number of employees in the Kurdistan region is 683 thousand employees, while there are more than 751 thousand employees in the region, how can we pay salaries at the time to employees whose names do not exist in the financial system?" Federal If we do not have our own source of income, ”affirming that“ there is a difference in the number of employees registered with the Federal and Regional Finance by about 70 thousand employees

And he continued, we hope to build a new relationship related to oil and finance with the central government, and we have faith that this will be achieved step by step, until we reach the establishment of a new Sumo company in which there are members of the Board of Directors, but we are still at the beginning and this needs to work more to increase confidence between the two parties

Talabani said, "What the Federal Oil Minister talked about, regarding linking all the oil of the Kurdistan region to one administration of the federal government, is an unconstitutional request

The deputy prime minister of the provincial government explained, "The majority of the questions were related to the region's expenditures, the number of employees and the expenses, but I told them to leave the discussion about the sources of financing for the time being, because each budget is made up of several parts that include imports, expenses, deficits and debts. He added that "there are many types of operating expenses, pensions, social care, grants to political prisoners and martyrs, in addition to the development of regions and the operational budget. All of these are expenditures, debts and loans, and must be disbursed on a monthly basis

He noted that "these expenditures are covered by the sources of funding that we have, which is the central government, in addition to the oil and non-oil revenues that we have, and therefore the discussion with the Finance Committee should be about the expenditures from what comes from and how they are covered, not just about the revenues. He pointed out that "the region wants to solve the outstanding problems with Baghdad in the fastest way in order to be implementable. We may not be 100% happy with what may emerge from these dialogues, but we are working at least step by step forward, we are with any result that may be implementable." , Calling on everyone to "move away from the electoral atmosphere, emotion and slogans, and to search for regional solutions for this stage

##########

 

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Talabani reveals the agreements signed recently between Baghdad and Erbil: We aspire to join SOMO

image.jpeg.596a3fbb70f9e9f6bbd35f7d91741708.jpeg
 


Vice President of the Kurdistan Regional Government, Qubad Talabani, revealed, on Saturday, the most prominent agreements that have been concluded between the governments of Baghdad and Erbil since 2014, and while noting that the region aspires to join the Kurds to the membership of the Oil Marketing Company (SOMO)

According to the media of the Patriotic Union of Kurdistan, Talabani said, "The political forces are constantly accusing the Kurds of possessing Basra oil, but we are in fact not responsible, and the evidence for this is that the region's share of the state's full budget is 5 percent, but we have been since 2014 until 2018." We did not receive any sums from the federal government," indicating that "if these sums were spent on investment projects in Basra or Dhi Qar, we would be happy, but these sums disappeared without knowing where they went

 

He added, "In the eighth month of the year 2020, there was an agreement between the governments of Baghdad and Erbil, whereby the federal government informed us that oil revenues and non-oil imports are all for the region, and they also pay us 320 billion dinars a month, in exchange for agreeing to send a technical team to monitor border crossings at Territory. He continued, "This agreement did not last for long, as the federal government sent the amount for two 

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Parliament addresses the Ministry of Finance regarding the minister's statements about the currency sale window

 

image.jpeg.4d0ef211b942f4471693086cfa5e94ed.jpeg

 

6th February, 2021


The Parliamentary Finance Committee addressed, on Saturday, the Ministry of Finance, regarding the recent statements of its Minister Ali Allawi about the involvement of political blocs that he did not name in spreading corruption through the window of currency sale.

The committee stated in a statement that Mawazine News received a copy of, that it "addressed the Finance Ministry regarding the minister's statements about the involvement of political blocs, which he did not name, in spreading corruption through the currency sale window in the Central Bank." She added, "This is for the purpose of forming an investigative sub-committee on this matter and revealing the facts before the Iraqi people."

The Minister of Finance, Ali Abdul-Amir Allawi, said in a televised interview: “We have sufficient evidence that the currency auction of the Central Bank was previously an important part in spreading corruption and there are large political blocs involved in it and take names and personalities participating in the auction as a front for it.”

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The Iraqi Parliament asks the Finance Ministry to investigate the statements of its minister about the "corruption" of the currency sale  LINK

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Digital enrollment service launched


image.jpeg.25a7491b2def4ff951cef68df3caf92d.jpeg
 

7th February, 2021

 

The Central Bank of Iraq announces the launch of the digital enrollment service, which is the first of its kind in Iraq and the region.

Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in financial dealings within banks operating in Iraq.

This service is considered a modern and different trend due to its many advantages, including conducting financial operations in a modern digital electronic form, which reduces time and geographical distances and raises the traditional barriers in the Iraqi banking sector.
 
The Central Bank of Iraq,
7 February 2021

 

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The Central announces the launch of the digital enrollment service   

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Representative law determines the priorities of Parliament before the legislative term

image.jpeg.df6f7d665a6092c4ca4a69706433068f.jpeg

 

7th February, 2021


The Parliamentary Legal Committee identified, on Sunday, the Parliament's priorities before going to the legislative term.

The committee's reporter, MP Muhammad Al-Ghazi, said, according to the official agency, that "the questioning of the governor of the Central Bank, and of the head of the Media and Communications Commission, will be on the agenda of the House of Representatives."

Al-Ghazi added, "The council’s agenda will include the budget law and question the governor of the central bank and the head of the Media and Communications Commission before going to the legislative recess."

The Prime Minister’s Office had confirmed earlier, the agreement to intensify the holding of sessions between the executive and legislative authorities, to ensure the approval of a reform budget that preserves the rights of the citizen, and as soon as possible, and that the work of the legislative and executive authorities is complementary, and in the spirit of one team, seeking to advance the historical responsibility, to get out In the country from the current situation. 

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Warnings of the public tendency to trade cryptocurrencies

 

alsabaah-66652.jpg


Monday 08th February 2021

 

Baghdad: Mustafa Al-Hashemi
 
 

At a time when the Central Bank launched the digital enrollment service, which is the first of its kind in Iraq and the region, a specialist in economic affairs warned against the public adopting wrong digital concepts such as dealing with Bitcoin and other cryptocurrencies, because the Central Bank had warned that it contained risks and suspicions of money laundering. A statement by the Central Bank, a copy of which was received by Al-Sabah, stated that “digital enrollment is an integrated digital financial system that enhances financial independence and freedom from traditional financial systems,” indicating that the system “works to transform Iraq into a country less dependent on cash, which enables it to fight corruption and evasion And bureaucracy in financial dealings within banks operating in the country.

The statement revealed that this service is a modern and different trend because of its many advantages, including conducting financial operations in a modern digital electronic form, which shortens time and geographical distances and raises traditional barriers in the Iraqi banking sector.


On the other hand, websites spread for companies promoting dealings in virtual currencies, such as Bitcoin, Ethereum and other cryptocurrencies that the rest of the countries deal with.

On the other hand, the specialist in economic affairs, Nashwan Emad, explained to “Al-Sabah” that “there are websites for small offices or companies scattered in the Kurdistan region, and some other provinces in secret, that receive those wishing to deal in these currencies, despite the Central Bank’s warnings against subjecting dealers to the provisions of the Anti-Law Money laundering".

He said, "Bitcoin is a virtual electronic currency that trades via the Internet only, without a physical presence, and is not issued by any central bank in the world. It is used for online purchases and supports payment using Bitcoin cards or may be converted to traditional currencies in some cases." A Central Bank statement issued in 2017 warned against dealing with Bitcoin because it contains several risks that may arise from its circulation, especially with regard to electronic piracy and fraud. Those dealing with it are subject to the provisions of Money Laundering Law No. (39) of 2015 and the relevant laws in this regard.

In turn, the specialist in economic affairs, Adel Al-Fattal, told “Al-Sabah” “The need to tighten control over such companies and alert the public to the dangers of dealing in digital currencies, because the lowest amount accepted by these companies is $ 500 and is designated for opening an account and assigning a financial intermediary to direct the customer to buy or sell. According to the market movement, a rate of 30 percent will be deducted from it as service fees for these companies.

Al-Fattal endorsed “the central bank’s approach to launch a new financial service that is the first in the country, as it is an integrated digital financial system that strengthens financial independence and freedom from traditional systems,” calling at the same time to “adopt awareness campaigns that warn the public against the consequences of dealing in cryptocurrencies as they do not exist physically (physically). It has, in addition to its potential for money laundering and terrorist financing.

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Representative of the World Bank to Al-Sabah: There is great support for the reform paper adopted by the government

 

alsabaah-66710.jpg
 

Monday 08th February 2021

 

Baghdad: Hazem Muhammad Habib
 
The Resident Representative of the World Bank in Iraq, Ramzi Numan, confirmed that the bank supports the Iraqi government in several directions to get out of the current economic crisis, and that there is great support for the white reform paper adopted by the government in order to get out of the crisis, and while he called for comprehensive reform in the Iraqi banking sector In an interview with Al-Sabah, he stressed that the Iraqi society is a “youth society” that can rise in the country if its energies are properly and seriously invested.

The following is the text of the dialogue: In light of the current economic situation, the “Corona” crisis and the global economic crisis, what are the frameworks? The World Bank cooperated with Iraq to help it out of this crisis?


It must be noted first, that the experience and history of the World Bank to work with the government and people of Iraq extends to a long history of projects that have been jointly worked on, but the current bank is currently working more closely with the Iraqi government to face emerging and accumulating crises that are added to the existing problems. In Iraq, and the consequent decline in oil prices, protests, the Corona pandemic and its health, economic and social consequences, which have formed a great burden on the country, and these conditions are the worst since 2003 for a single economy dependent on oil, and there is a fact that all of this left great burdens reflected on the ability of The Iraqi government in dealing with emergency needs.The World Bank has set up a very large financial portfolio file for the projects it implements in Iraq, and this portfolio is directed to several destinations, whether reconstruction projects for areas liberated from “ISIS” gangs or to face the social crises that have arisen from this matter, in addition to some other projects that work On structural reforms in the economy, and we are working hard with the government to approach solutions to emergency crises and keep pace with the reform white paper initiative put forward by Prime Minister Mustafa Al-Kazemi

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