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

[yota691]

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

Monday 08th February 2021 384

 

  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 a 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 for 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 that have formed a great burden on the country, and these conditions are the worst since the year 2003 for a single economy dependent on oil, and there is a fact that all 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

[yota691]

The World Bank talks about the "appointments" in Iraq

Feb 8, 2021 | 10:51 am   -   Readings: 46 views

 

http://www.al-mawqif.com/wp-content/uploads/2021/02/11-213.jpg

Iraqi position network
 

 

The World Bank warned, on Monday, that government appointments in Iraq are witnessing great inflation and burdensome financial and economic consequences, stressing the need to encourage investments in an appropriate environment and revitalize the private sector.

The Resident Representative of the World Bank in Iraq, Ramzi Numan, said, “We are trying very seriously to support all reform efforts undertaken by the Iraqi government, and when we look to solve the issue of deflation, this comes through job creation, and we believe that the Iraqi society is a“ youth society ”, constituting youth. It has a basic wealth that must be built upon and given appropriate opportunities to enter the labor market within a large process that begins with education and other factors, and job creation is not necessarily through government appointment, which is witnessing great inflation and has burdensome financial and economic consequences, but by encouraging investments in an appropriate environment and revitalizing the sector Private, and restore confidence between the citizen and the government.

Ramzi added, “The World Bank seeks to support the Iraqi government in developing very sound fiscal and monetary policy frameworks that allow for the continuation of financial and banking work, and on the budget, we are waiting for the Iraqi parliament to vote on it so that we can know the possible support lines from us for the government, after the income and expenses are scheduled and what It is the total deficit resulting from the budget, and what are the matters that the government will resort to to face this deficit, whether by way of internal or external borrowing, and how the government should pay off the debts owed by it and its arrears, and after that the World Bank will have a clear position in support in two parts of the investment through funded projects, And budget support, which is a part related to the basic reforms that the government of Iraq is committed to, which are fundamental reforms that allow improving the country's financial and monetary reality in stages.

Ramzy pointed out that “the World Bank supported the unified pension law that was proposed in Parliament, and our approach in that law was to establish a law between the public and private sectors allowing the transfer of benefits between them, which is one of the main incentives that push citizens to seek work in the sector. The private sector does not pressure the public sector, which reduces the burden on the government.

 

[yota691]

The World Bank, Once Again Knocking on the Doors, “It Will Disturb Iraqis” ... New Suppor t for the File “Graduates Disturbing”

2021-02-08

Yes Iraq: Follow up

 

The World Bank warned, on Monday, that government appointments in Iraq are witnessing great inflation and burdensome financial and economic consequences, stressing the need to encourage investments in an appropriate environment and revitalize the private sector.

The Resident Representative of the World Bank in Iraq, Ramzi Numan, said, “We are trying very seriously to support all reform efforts undertaken by the Iraqi government, and when we look at resolving the issue of deflation, this comes through job creation, and we believe that the Iraqi society is a“ youth society ”. Young people have a basic wealth that must be built upon and given appropriate opportunities to enter the labor market within a large process that begins with education and other factors, and job creation is not necessarily through government appointment, which is witnessing great inflation and has burdensome financial and economic consequences, but by encouraging investments in an appropriate environment and stimulating The private sector, and restore confidence between the citizen and the government.

Ramzi added, “The World Bank seeks to support the Iraqi government in developing very sound fiscal and monetary policy frameworks that allow for the continuation of financial and banking work, and on the budget, we are waiting for the Iraqi parliament to vote on it so that we can know the possible support lines from us for the government, after the income and expenses are scheduled and what It is the total deficit resulting from the budget, and what are the matters that the government will resort to to face this deficit, whether by way of internal or external borrowing, and how the government should pay off the debts owed by it and its arrears, and after that the World Bank will have a clear position in support in two parts of the investment through funded projects, And budget support, which is a part related to the basic reforms that the government of Iraq is committed to, which are fundamental reforms that allow improving the country's financial and monetary reality in stages.

Ramzy pointed out that “the World Bank supported the unified pension law that was proposed in Parliament, and our approach in that law was to establish a law between the public and private sectors allowing the transfer of benefits between them, which is one of the main incentives that push the citizen to seek

[yota691]

Economy News» publishes the second part of the white reform paper

 

money and business Economy News _ Baghdad Al-Iqtisad News publishes the second part of the White Reform Paper, which was approved by the Council of Ministers in its session held on 10/13/2020, and in accordance with its Resolution No. (148) for the year 2020, the second part of which includes a group of projects, which numbered 64. To view the second part of the paper click

here:   https://1drv.ms/b/s!Ap1aTnwoJ4CNpj5A-cZgLLKZDEbR

Number of observations 233   Date of addendum 02/17/2021

[yota691]

Highlight the items of the second part of the white paper

 

Ministry of Finance building

Reports Economy News - Baghdad The government warned of the "dangers" of not adhering to the reform plans contained in the "white paper", noting that the paper  works to  create the appropriate conditions for the country's economy to recover and grow. The paper is divided into two parts, the first in "Governance of the reform program, including the structures and processes responsible for overseeing, follow-up and evaluation of the implementation of the plan, and linking the program with the executive body of the state to ensure the availability of the necessary powers." As for the second section, it "included transferring the components of the white paper to the reform program, which includes a group of projects, the number of which reached 64, each of which includes a set of objectives that lead the process of their implementation in an integrated manner to the completion of each project, and the projects are integrated with each other to complete the reform program as a whole." . The white paper enjoys the full support of the international community, which is embodied in the establishment of a special committee for support called "The Economic Contact Group for Iraq IECG ", whose mission is to provide support for the economic reform process in Iraq within the framework of the White Paper. This group includes the seven industrialized countries, the G7, the World Bank and the International Monetary Fund, in addition to the European Union. This group was established following the prime minister's visit to Britain, and one of the primary tasks of this group is to coordinate the appointment of international specialists and advisors to assist the Iraqi government in the basic areas of reform, and whenever there is a need for technical and administrative assistance. According to the paper, international support provides important opportunities to benefit from advanced international expertise in various areas of implementing the reform plan, as well as providing the appropriate conditions to facilitate support for international institutions to deal with the various complications that may accompany the implementation process. The paper recommends "the existence of representation of the Economic Contact Group for Iraq and the World Bank in the Supreme Committee for Reform by representatives who do not have the right to vote, and in a manner that is closely coordinated by the continuation of international support for the plan." The paper also recommended the formation of a high-level committee of economists and statesmen, to provide advice to the implementation team on the strategy that affects the trends of the Iraqi economy. The paper stated that the committee may meet quarterly, or when needed, to evaluate the pathways for implementing the reform plan, and to suggest remedies and amendments that may be required by the plan. The number of members of the committee does not exceed 10 persons from different countries and experiences of different success Over 4 years, the paper aims to complete 64 projects and reduce the budget deficit to 3% from 20%, in addition to liquidating the losing government companies and reducing financial support for public companies by 30%. It also aims to reduce the salary bill from 25% to 12.5%, review the employee's salary scale, as well as end the dependence on imported gas and invest associated gas instead of burning it, and implement gas licensing mobile contracts. The paper seeks to reform the collection of electricity wages by re-activating the privatization of taxation companies, and their inclusion in uncovered areas, in addition to other goals.

Number of observations 98   Date of addendum 02/17/2021

[yota691]

Mazhar Saleh: Iraq is on the brink of economic recovery

Saturday 20th February 2021 31

 

 Baghdad: Shaima Rasheed 

 

Advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to advance the public and private sectors.

In an interview with Al-Sabah, Saleh explained that Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in non-oil GDP in the year 2021 by more than 4%, which is one and a half times higher than the growth Almost the population, and the second scope is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive indicator that strengthens the country's overall financial capacity.

Saleh stressed the need to deal with this matter with great caution, by laying a basis for sustainable development and reducing economic shocks, and pointed out that the international community supporting Iraq through the International Financial Alliance team, which was established months ago, expressed its desire to support the established principles of sustainable growth in the national economy. It was also expressed in the white paper recently approved by the Council of Ministers by establishing a blueprint and an institutional entity (for economic reform), which is the linchpin of this developmental sustainability.

He added that the formation of the Supreme Committee for Reform, which will have decisive and radical executive decisions to promote the productive, investment and operational activity in the public and private sectors, will be supported by a large international presence represented by the multilateral international financial institutions and the Group of Seven major industrialized countries, pointing out that the availability of national and international will will be embodied in participation in reconstruction Establishing the country's reform and transformation team from (crisis economy) to (construction economy and sustainable development), to be the cornerstone of the economic transition for development.

[GreedyDinar07]

Well come one with it then!! 

[horsesoldier]

What’s the Iraqi definition for “ is on the Brink of “ ???? 

[Longtimelurker]

2 minutes ago, horsesoldier said:

What’s the Iraqi definition for “ is on the Brink of “ ???? 

Definitely not soon

[horsesoldier]

15 minutes ago, Longtimelurker said:

Definitely not soon

Figures, huh....kinda like “ in the near approximate future “

[screwball]

4 hours ago, yota691 said:

Muhammad Salih, confirmed that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to advance the public and private sectors.

Boom baby it’s coming!

[screwball]

32 minutes ago, Longtimelurker said:

Definitely not soon

Put the past into perspective! Let’s look to the future 

[Longtimelurker]

Lookin good, lookin real good🙏🙏🙏

[shixjr]

It means the same thing as when the preacher says, "And in closing..."

 

ABSOLUTELY NOTHING!!!   😂😂

[yota691]

Saleh: Iraq is on the brink of an economic recovery

 

money and business Economy News _ Baghdad The Advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Saturday, that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to advance the public and private sectors. In an interview with Al-Sabah newspaper and followed by Al-Eqtisad News, Saleh explained that Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in the non-oil GDP in the year 2021 by more than 4%, which is rising by more than 4%. Approximately one and a half times the population growth, and the second scope is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country's general financial capacity. Saleh stressed the need to deal with this matter with great caution, by laying a foundation for sustainable development and reducing economic shocks, and pointed out that the international community supporting Iraq through the International Financial Alliance team that was established months ago expressed its desire to support the established principles of sustainable growth in the economy As expressed in the white paper recently approved by the Council of Ministers, establishing a blueprint and an institutional entity (for economic reform), which is the linchpin of this developmental sustainability. He added that the formation of the Supreme Committee for Reform, which will have decisive and radical executive decisions to promote the productive, investment and operational activity in the public and private sectors, will be supported by a large international presence represented by the multilateral international financial institutions and the Group of Seven major industrialized countries, pointing out that the availability of national and international will will be embodied in participation in reconstruction Establishing the country's reform and transformation team from (crisis economy) to (construction economy and sustainable development), to be the cornerstone of the economic transition for development.

Number of observations 144   Date added 02/20/2021

[yota691]

 

The World Bank: Iraq's GDP will grow by 1.9% in 2021

 

•  

 2021-02-22 03:32

 

Shafaq News / The World Bank expected, on Monday, that the GDP growth of Iraq will be 1.9% for the year 2021.

The bank said in a report reviewed by Shafaq News Agency; It is "expected that the gross domestic product of Iraq will grow in 2021 by 1.9%," noting that "the gross domestic product of Iraq decreased in 2020 by -9.7%."

He added, "Djibouti is expected to record the highest GDP growth for 2021 among the countries of the Middle East and North Africa, at a rate of 9.2%, while Lebanon's GDP is expected to record the lowest growth for the same year, at a decrease of -6.3%."

He pointed out that "the GDP of the oil-producing countries in the Middle East and North Africa, which includes Iraq, Algeria, Kuwait, the UAE, Saudi Arabia, Qatar, Iran, Oman and Bahrain, is expected to increase during 2021 by 2.1% after it recorded -5% in 2020."

It indicated that "the GDP of the oil importing countries in the Middle East and North Africa, which includes Tunisia, Jordan, Lebanon, Morocco, Egypt and Palestine, is expected to increase in 2021 by 3.2% after recording a decrease of -0.8% in 2020."

[Flamtap]

Uh-huh. And then? 

[md11fr8dawg]

9 minutes ago, Flamtap said:

Uh-huh. And then? 

NADA!!!

[yota691]

Saleh: There is optimism accompanied by caution ... revealing real GDP projections for 2021

•  Time: 02/24/2021 18:05:30
•  
•  Read: 6,630 times

  

{Baghdad: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Wednesday, that there is optimism about the recovery of the Iraqi economy accompanied by caution, while revealing the real GDP in 2021 according to expectations.

Saleh said {for the Euphrates News} that "the Iraqi economy has started the recovery phase and growth rates will be positive in the current year, after the contraction of real GDP by an estimated 11% in 2020, and expectations confirm today that Iraq will reach this output to 3% in 2021." ".
Saleh promised, these indicators are "good ... it stops the deterioration and moves the wheel of the Iraqi economy and works to reduce unemployment and supply sectors in general, especially since we have two positive events that lie in the improvement of oil revenues and agriculture, especially food security in the issue of grains."
He added, "Improving agricultural and oil revenues will work to move the Iraqi economy for the next ten years, and get out of the bottleneck for 2020; there is optimism with caution."
The Coronavirus (Covid-19) pandemic and the sharp decline in oil revenues further exacerbated long-term economic vulnerabilities in Iraq, as the real GDP contracted by an estimated 11% in 2020, reflecting the slowdown in non-oil activity and oil production cuts as a result of OPEC decisions. +. According to the International Monetary Fund 
, the large deficit in public finances and the external current account of 20% and 16% of GDP, respectively, restricted the government's ability to respond effectively in terms of public finances to the crisis.
The International Monetary Fund stressed in its report, there is a need for a comprehensive package of short-term economic policies based on a reliable financial strategy to overcome the health crisis, ensure economic stability, and protect vulnerable groups.
Wafa Al-Fatlawi
 

[yota691]

World Bank President: Developing countries are threatened by a debt crisis

February 25, 2021 11:47 PM
Mubasher: The President of the World Bank, David Malpass, said that developing countries are still at risk of a debt crisis due to the impact of the epidemic, indicating that the group is working on finding ways to reduce the burden.

"The World Bank is cooperating closely with the IMF in designing plans that link debt reduction with freeing resources for countries to invest in health care and initiatives to combat climate change," Malpass added.

The World Bank President stated that the debt crisis is a prominent risk for some low-income countries, and that relates to the difficulty of obtaining new investments.

"The rest of the world should see a beneficial link in finding ways to reduce unsustainable debt in developing countries," Malpass said.

Malpass’s comments came before the start of a meeting of finance ministers and central bank governors of the Group of Twenty tomorrow, Friday, when they are expected to discuss adding new reserve assets to the IMF, worth $ 500 billion in special drawing rights.

 

[Wheelman]

4 minutes ago, yota691 said:

World Bank President: Developing countries are threatened by a debt crisis

February 25, 2021 11:47 PM
Mubasher: The President of the World Bank, David Malpass, said that developing countries are still at risk of a debt crisis due to the impact of the epidemic, indicating that the group is working on finding ways to reduce the burden.

"The World Bank is cooperating closely with the IMF in designing plans that link debt reduction with freeing resources for countries to invest in health care and initiatives to combat climate change," Malpass added.

The World Bank President stated that the debt crisis is a prominent risk for some low-income countries, and that relates to the difficulty of obtaining new investments.

"The rest of the world should see a beneficial link in finding ways to reduce unsustainable debt in developing countries," Malpass said.

Malpass’s comments came before the start of a meeting of finance ministers and central bank governors of the Group of Twenty tomorrow, Friday, when they are expected to discuss adding new reserve assets to the IMF, worth $ 500 billion in special drawing rights.

 

WOW! ✅

[screwball]

On 2/20/2021 at 2:55 PM, horsesoldier said:

What’s the Iraqi definition for “ is on the Brink of “ ???? 

Extinction ?

[screwball]

Exactly what will happen if they don’t do **** 

[horsesoldier]

4 hours ago, screwball said:

Exactly what will happen if they don’t do **** 

 
Too true .... they will become ****