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Canceling The Currency Auction, Reducing Borrowing, And “Isolating” The Central Bank’s Reserves ... The Most Important Thing For Hard Currency In The 2021 Budget !


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An economist calls for reducing the dollar due to the rise in oil: the decision acquired a quarter of what the citizen owned
 

An economist calls for reducing the dollar due to the rise in oil: the decision acquired a quarter of what the citizen owned
 

02/17/2021 15:12:08

 
An economist, Bassem Jamil Antoine, said, on Wednesday, that the government took a quarter of what the citizen owned, while he pointed out that monetary inflation weakened the purchasing power.

Antoine told {Al-Furat News}, "The decline in oil prices before Corona paralyzed the economic process in the country," noting that "after Corona treatments were found, economic activity began to recover and the demand for oil began to increase." He explained, "Oil is supply and demand. When demand occurs, the price increases. We explained at the time of the budget, if oil rises, it will compensate for the deficit." A year, when we add this number, the budget deficit will decrease, and thus there is no need to reduce the ratio of the dinar.


And he added, "If the dinar continues in this way, Iraq will get differences from the sale of oil to the budget," stressing that "the deficit should decrease and act in a scientific manner to allocate investment clauses, address unemployment and rising poverty rates, and expectations of a higher oil rate than the exchange rate were more than what is addressed." Economical."
 

Antoine went on to say, "Is it reasonable for the Minister of Finance to ask the central bank to reduce the dinar, wondering? Where is the authority of the Iraqi Central Bank not the duties or rights of the Minister of Finance, as the financial policy is in the hands of the Minister of Finance, the government, and monetary policy is in the hands of the central bank. Over a period of six months, after it reduces 10% on the social and economic classes, the poor classes and the market."

He concluded by saying, "What happened now is high monetary inflation, so prices rose and became a high economic downturn, weakening the purchasing power because the government took from the pocket of every citizen a quarter of what he owned."

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38 minutes ago, DinarThug said:

The second part of the white reform paper

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17th February, 2021

 

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

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Page 2

Complementing the white paper on economic and financial reform approved by the Council of Ministers in its session held on 10/13/2020, and in accordance with “No. 148 of 2020, the second part of the reform program comes to lay down the mechanisms that ensure its implementation in accordance with the objectives included in Part  First, and within the framework of specific time adjustments, as stipulated in the white paper specifying a period of 3-5 years to accomplish the goals set by them) The basic guarantee for the sustainability of the implementation of the economic and financial reform program, and the commitment of all government agencies to it, is the existence of the implementation path, within  Specific tunnels are subject to follow-up by a specialized body that has the necessary powers to ensure proper implementation, which is the plan that we put in your hands here, and since the risks of non-compliance with the implementation of the reform plan are not less than the risks of not having a plan in the first place, this implementation plan is of utmost importance to ensure  providing appropriate conditions for the recovery and growth of the country's economy, and laying the foundations for progress, coupled with race in the twenty-first century.  This is due to the commitment, follow-up and restriction of the execution of the betrayal, and the decision-making regarding it, whereby the management of the reform process is carefully circumcised, and under the intensity and suggestion of Saih, and the team was qualified for this death and linked to the head of the international dragon body, the issue of the availability of the farm teams and the honor of the tune of the greeting  In addition to coordinating and following up with state institutions, various governmental institutions have been appointed

Page 3

As for the second section, it included transferring the components of the white paper to the reform program that includes a group of projects, numbering 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 achieve the reform program as a whole.  Noting that each of these targets includes detailed procedures that are identified with the authorities responsible for each project, and within timings to be agreed upon within the framework of the plan period, and this section also includes a definition of the entity responsible for implementing the project, to be followed by the support system" rel="">support authorities, as part of an integrative effort between  Institutions related to business terms.  An illustrative model has been developed in the introduction to the second section, the intended part of each of the components of the implementation plan for each project of the program. What was mentioned in this second section of the elements and timing of the proposal framework subject to discussion and amendment by the Council of Ministers and the responsible and supportive bodies.  It must be noted that the White Paper had the full support system" rel="">support of the international community, which was embodied in the establishment of a special committee for support system" rel="">support called "The Economic Contact Group for Iraq IECG", and its mission is to provide support system" rel="">support for the credit reform process in Iraq within the framework of this group's Albilama paper  The seven industrialized countries, 67, the World Bank and the International Monetary Fund, in addition to the European Union. This group was established following the visit of the Prime Minister and the accompanying Iraqi delegation to the United Kingdom.  The group is headed by one of the member bodies on a rotating basis, as it started in the United Kingdom, and is currently headed by Germany. One of the basic tasks of this group is to coordinate the appointment of experts and international advisors to assist the Iraqi government in the front lines of reform, and when there is a need for development and administrative assistance

Page 4

The importance of the international role in supporting the reform process is not hidden, as this blessing 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 system" rel="">support for international institutions to deal with various complications within the implementation process.  With the representation of the Economic Contact Group for Iraq and the World Bank in the Supreme Committee for Reform through representatives who do not have the right to vote, and in a closely consistent manner Continued international support system" rel="">support for the reform plan OFF o qualitatively by forming a high-level committee of economists and statesmen, with international competence and reputation, to provide advice to the team  Implementation means the strategy that has an impact on the trends of the Iraqi economy, similar to similar experiences in other countries, where such assistance has emphasized controlling economic reform paths and achieving productive change.  This committee may meet quarterly, or when needed, to evaluate the implementation of the reform plan, and to suggest remedies and amendments that may be required by the plan.  The number of members of this committee does not exceed (10) people from different countries and experiences with success, and by God, the aid and success are based on the Emergency Cell for Financial Statistics January 2011

 

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Highlight the items of the second part of the white paper

 

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17th February, 2021

 

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 state's executive apparatus 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 adjustments that the plan may require. The number of members of the committee does not exceed 10 people from different countries and experiences with different proven 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

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On 2/12/2021 at 9:17 AM, DinarThug said:

Digital media calls for popularizing the electronic payment experience in Iraq

12th February, 2021

 


The Digital Media Center DMC, called on Friday to circulate the electronic payment experience in Iraq, to limit the transmission of the new Corona virus via fiat currencies.

The center stressed, in a statement received by Mawazine News, a copy of it, on the necessity of circulating the electronic payment experience in Iraq in a way that allows citizens to make purchases safely and quickly, as well as limiting the transmission of the Corona virus through paper currencies, as well as the benefits achieved to Iraqi banks.

He praised, "the presence of many points of sale in the malls that supported the electronic payment feature through electronic payment cards," calling for "support system" rel="">support for more payment applications such as Apple Pay and the electronic payment services provided by telecom companies operating in Iraq." He noted, "Circulating the electronic payment experience will encourage citizens to settle their salaries in banks and spend what they need only through the electronic payment mechanism, thus providing financial liquidity to banks that support system" rel="">support electronic payment systems."

He stressed, "the importance of activating electronic payment systems in reducing corruption and eliminating informal economic activities, and consequently the entry of individuals within the licensed systems operating in the country, as well as its importance in raising investment rates in the country, increasing production and providing more job opportunities."

He explained, "The electronic payment systems in Iraq still need more support system" rel="">support and legalization and limiting the chaos of benefits imposed on individuals, which may reach many times what is imposed in neighboring countries, and banks should also be obligated to increase the number of ATMs and payment devices in a manner commensurate with the population density." 

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The Digital Media Center calls for popularizing the online payment experience in Iraq
 

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12th February, 2020

 

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The Minister of Finance inaugurates the electronic comprehensive application project in Al-Rafidain Bank
 

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The Minister of Finance, Ali Allawi, inaugurated, on Wednesday, the comprehensive electronic banking application system project in the Rafidain Bank

The bank said in a statement that Mawazine News received a copy of it, that "the Minister of Finance, Ali Allawi, inaugurated today, the comprehensive electronic bank application system in the Rafidain Bank

The statement added, "The opening ceremony was attended by the Minister of Finance, Director General of Al-Rafidain Bank and other personalities who considered this system a positive sign in the application of electronic work in the bank away from the traditional paper methods

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The Minister of Finance announces the launch of the new experiment in the comprehensive banking system

 

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17th February, 2021

 

On Wednesday, Minister of Finance, Ali Abdul-Amir Allawi, inaugurated the Al-Alawi branch in the Rafidain Bank, according to the comprehensive banking system

The ministry’s media office said in a statement received by Al-Iqtisad News that, “Under the auspices of the Minister of Finance, Al-Rafidain Bank opened the Al-Alawiya branch in Al-Firdous Square in accordance with the comprehensive banking system

Allawi said, during the opening, according to the statement, that "the new branch is part of the development plan pursued by the Ministry of Finance by adopting modernity and development in the application of the banking system," adding that "this branch represents the real start towards popularizing the new experience in all Iraqi banks

The statement stressed that "the departments of the Ministry of Finance are working hard and continuously to improve the quality of services provided to citizens

The opening was attended by the General Director of Al-Rafidain Bank, the branch manager and the bank’s staff

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Next week ... a high-level Jordanian delegation will visit Iraq

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17th February 2021


A high-level Jordanian delegation will visit Iraq next week to complete talks on activating cooperation agreements between the two countries.

The media office of the Minister of Industry and Minerals, Manhal Aziz Al-Khabbaz, stated in a statement that Mawazine News received a copy of, that "the latter, during his meeting with the Jordanian Ambassador, Montaser Al-Zuabi and the Commercial Attaché Rami Al-Qudah, discussed the preparations and work program of the high-level Jordanian delegation that will visit Iraq next week. To complete steps and talks to activate cooperation agreements between the two countries."

The Minister of Industry, Manhal Al-Khabbaz, affirmed the prime minister's interest in revitalizing the industrial and agricultural sectors to promote economic development in the country, indicating at the same time that the two governments ’direction and desire to deepen joint relations and achieve economic integration in a way that would benefit both parties. 
 

The baker added, "His recent visit to Jordan was successful and fruitful for real Iraqi-Jordanian cooperation in a number of industrial fields, especially the pharmaceutical, veterinary medicine, fertilizer, textile and leather industries, as well as accelerating the steps of implementing the joint economic city."

For his part, the Jordanian ambassador renewed "the desire and eagerness of the Jordanian government to consolidate bilateral relations with Iraq and expand opportunities for cooperation and joint action in various fields to establish promising projects that serve the two brotherly countries."

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Al-Abadi: The government of Abdul-Mahdi has stopped the withdrawal of the Americans ... It has made great gains for Iraq

 

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16th February 2021


Former Prime Minister Haider al-Abadi confirmed, on Tuesday, that the government of Adel Abdul Mahdi has stopped the withdrawal of US forces, indicating that he has achieved great gains for Iraq.

According to statements sent by his office to Mawazine News, Al-Abadi said: “We reject Iraq being an arena for settling disputes, and states must respect Iraqi sovereignty so that they do not backtrack on the rules of the game. Targeting diplomatic missions is not permissible, and it violates the state’s obligations in accordance with international law, and exposes Iraq to disasters. "He does not need it. The state can find acceptable solutions to the issue of withdrawal of foreign forces." He added, "In my era, I agreed with the Americans on an integrated withdrawal schedule, and we started it, and the government of Adel Abdul Mahdi was the one who stopped it, perhaps because of the growing challenge of ISIS terrorism coming from Syria at the time, and the political forces should not bid and gamble together. We do not have foreign bases, we have." Iraqi bases that host the international coalition forces, according to official agreements that can be changed at any time on the basis of Iraqi security interests.

He continued: "I have tried to restore relations with everyone, and I did not take sides against an axis, because I have faith in the center of Iraq and not the Iraq of the parties. Iraq is part of the fabric of the region, and it has to follow the best relations of integration with its neighbors, and with all the countries that create international destiny." He pointed out, "Any Iraqi bias to any axis at the expense of Iraq's interests will destroy Iraq and the region, and this is what it has worked to avoid, and has made great gains for Iraq by following this policy, and the donor countries conference in Kuwait and the G20 summit in Tokyo are nothing but signs of winning the world's confidence." Because of the policy of balanced openness and returning Iraq to its natural center. "

Al-Abadi concluded by saying, “The closest and most distant American to Iraq is not related to America’s leaders only, but with the trends of the Iraqi situation and the region as well. The advancement of Iraq is an Iraqi task par excellence, and the world does not support a person’s love, rather support and boycott relates to policies, balances and managing interests, and this is what must be worked on. Primarily on the Iraqi side, it is our fate that makes it.”

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Tueller meets with the U.S. Chamber of Commerce U.S.-Iraq Business Council (USIBC) to discuss how the United States is collaborating with Iraq to grow a thriving economy

 

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17th February, 2021


Ambassador Tueller met with the U.S. Chamber of Commerce U.S.-Iraq Business Council (USIBC) to discuss how the United States is collaborating with Iraq to grow a thriving economy.

"We continue to work towards helping Iraq become a stable, secure, and prosperous country. We would like to see Iraq take full advantage of its vast energy resources to become more energy independent, and we would like to see increased trade and investment that can stimulate the private sector, create jobs, and provide the foundation for a better future for all Iraqis.

"In this vein, we remain focused on implementing the agreements made at the Strategic Dialogue last August and are looking to deepen our economic collaboration."

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On 2/14/2021 at 11:07 AM, DinarThug said:

Tomorrow .. the launch of the services of the national Internet project in Iraq

Tomorrow .. the launch of the services of the national Internet project in Iraq
 
 
02/14/2021 11:52:54
 
 
The services of the National Internet Project will actually be launched in Iraq on Monday.

The project’s media invited the media to attend the press conference at the Babylon Hotel in Baghdad to announce the actual launch of its services.

Specialists say that "the project will help provide stable internet capacities for the Iraqi citizen, as it guarantees the largest network of infrastructure in the Middle East as well as providing thousands of job opportunities, in addition to that Iraq will, through this project - for the first time - pass the Internet capacity for regional countries." 

They indicated that "the national project for the Internet will also provide an infrastructure for the e-government project as well as economic benefits for the country."

 

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Ministry of Communications: The national Internet project will bring large financial revenues to the country  

 

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17th February, 2021

 

The Ministry of Communications revealed, on Wednesday, the most prominent advantages of the national Internet project, stressing that this project will achieve large financial revenues for the country

Communications Minister Arkan Shihab said in a statement seen by "Al-Eqtisad News," "The national project for the Internet is one of the largest projects that will extend for a hundred years to the next, and it is the project of serving the optical fiber to homes

He added, "This project will have great benefits, as it will provide billions of profits for the state, in addition to providing thousands of job opportunities for cadres and contractors, pointing out that the main goal of the project is to reach service at a very high speed that exceeds the speed even in neighboring countries

He affirmed, "The concerted efforts in the telecommunications company and the continuation of work with the ministry's partners to complete the project that will supply the state treasury with money in light of the difficult economic situation," noting that "the prime minister is a major supporter of the telecommunications sector, whether in 4G or ftth service. He pointed out that "the service was launched last Monday at 12 noon in the Zayouna area on an experimental basis, and the first zone was launched as an opening and as an experiment, stressing that work continues, and the fiber-optic internet service will reach homes

He explained, "The period of implementation of the project will be three years, noting that the current year will witness at least one million lines, or one million homes, and thus the Internet will be provided by about 5 million to 6 million Iraqi citizens if we impose the presence of 5 to 6 individuals in one house

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The Iraq Stock Exchange is distinguished activity in 2020
 

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18th February, 2021


In February 2021, the Iraq Stock Exchange issued its annual report for the year 2021, which is considered the first annual report issued by an Iraqi economic institution on its activities in the year of crises, economic shocks, recession and economic depression that spread to the countries of the world due to the drop in global oil prices and the spread of Covid 19 and Iraq was one of the countries that suffered And it still suffers from the repercussions and effects of these crises on its economy despite the efforts made by its economic institutions to bypass them.

It is noticeable that the annual report includes the activities of the market and its overall and monthly indicators for trading and the decisions of the Securities Commission for the first and second half of the year, in addition to holding workshops for financial and information disclosure and workshops. Community training and training of colleges and institutes students and participation in seminar discussions. The report indicated a detail of the training programs established and agreements with the Egyptian Stock Exchange and market activities in Arab and international federations.

The report also focused on spreading the culture of investing in securities through print and visual media, as well as the important and basic aspect that the report made clear in the market plan for 2021 in the field of activating and stimulating investment and moving to a new development stage by benefiting from its rich experience of previous years. It is strengthening the financial inclusion path and launching the online trading system for investors online in 2021 to enable young people and age groups that use technologies efficiently to trade on shares of Iraqi joint-stock companies from trading according to the trading instructions. Through an analytical reading of the report, we note that the market will go through 2020.

He has made distinguished efforts to achieve his goal as an economic market aiming to regulate and monitor securities between buyers and sellers in accordance with special rules and instructions subject to his law. Although it was greatly affected by the general economic situation and the complex accumulations of the economy, which led to a decrease in the rate of growth in the gross domestic product and an increase in the unemployment rate to the limits (30% - 40%) and the poverty rate to 31% and the annual base inflation rate to more than 2% of what it had Its impact, previously and currently, on the decline in share prices of the banking sector and other sectors in the trading market at rates ranging between (50% - 85%).

However, the results of market activity in 2020 and its plan for 2021, the new administration of the Securities Commission and the distinguished efforts to manage the promising market and fruitful coordination with all sectors Economic will send hope to move to the desired stage of recovery.

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Iraq advances three ranks in the global e-commerce index

 

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18th February, 2021

 

Iraq rose three ranks in the B2C e-commerce index between commercial enterprises and consumers for the year 2020, issued by the United Nations Conference on Trade and Development (UNCTAD), to occupy the 129th position globally and 12th in the Arab world, with a score of 25.4 points out of 100

According to the report seen by "Al-Eqtisad News", the annual index that covered 152 countries is based on a number of criteria that measure the readiness of the infrastructure of the countries of the world to support online shopping and engage in e-commerce," indicating that "the share of individual users of the Internet in which Iraq scored 49. Point, and ownership of an account in a financial institution, in which Iraq achieved 23 points, in addition to ownership of an account with an Internet provider, in which it achieved 22 points, in addition to the postal reliability standard, in which the country achieved 8 points

Switzerland topped the global list after achieving 95.9 points, followed by the Netherlands with 95.8 points, Denmark with 94.5 points, in addition to Singapore, which scored 94.4 points, the United Kingdom by 93.6 points, Germany with 93.4 points, in addition to Finland, which scored 93.4 points, and Ireland with 93. 4 points, Norway with 92.6 points, then Hong Kong with 91.8 points

Niger, Chad and Burundi ranked in the index, along with Comoros, the Democratic Republic of the Congo, Congo, Sierra Leone, Mauritania and Liberia, in addition to Afghanistan and Mali

According to the report, the number of people who shopped "online" in 2019 was estimated at 1.5 billion, who made up about 27 percent of the world's population aged 15 years and over, noting that this represented an increase of 7 percent compared to 2018

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Oil could reach $ 100

Iraq warns of a "fragile rise" in oil prices ... and affirms: We are committed to the OPEC agreement

 

18th February, 2021


Two of the largest banks on Wall Street in the United States expected a rise in oil prices during the coming period, according to the American "Financial Times" newspaper.

The source stated that both "JP Morgan Chase" and "Goldman Sachs" expect oil prices to rise significantly when the Corona epidemic recedes. He explained that the most optimistic expectations indicate a return of international crude oil prices to $ 100 a barrel, a level that has not been reached since 2014.

The expected rise is based on the belief that the fiscal stimulus will boost consumption, along with the beginning of a return to normal life. This would change the conditions in the oil sector, which recorded record losses last year due to the repercussions of the Corona virus. "We can see oil cross $ 100 a barrel, or even more," Christian Malek, head of oil and gas at JP Morgan, said in a conference call last week.

For his part, Geoffrey Curry, a veteran analyst at Goldman Sachs, said he believes oil is trading in the $ 80 range or higher this year.  He continued, "The launch of financial incentives targeting the middle and lower classes will boost consumption of basic commodities ... This category does not drive electric cars, they drive regular cars."

Since the end of October, Brent crude, the international benchmark, has risen by more than two-thirds to $ 63 a barrel, driven by optimism left by the global vaccination campaign and production cuts. 

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Source: Parliament will vote in its next session to dissolve itself in October

 
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09:55 - 02/18/2021
 
 

A parliamentary source revealed, on Thursday, that the House of Representatives will vote during its next session to dissolve itself next October in preparation for early elections.

The source said in a statement to / information /, that "the House of Representatives will vote during its next session on a decision to dissolve itself during the month of October, in preparation for the next elections."

The source added, "The House of Representatives will vote to pass the General Budget Law during the next Saturday or Sunday."

Article (64) first stipulates the following: The Council of Representatives shall be dissolved, with an absolute majority of its members, based on a request of one-third of its members, or at the request of the Prime Minister and with the approval of the President of the Republic, and the Parliament may not be dissolved during the period of the Prime Minister's questioning.

The second paragraph of the same article states the following: The President of the Republic, upon dissolution of the House of Representatives, calls for general elections in the country within a maximum period of sixty days from the date of the dissolution, and the Council of Ministers in this case is considered resigned and continues to run the daily affairs. 

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Mazhar Saleh: Iraq is on the brink of economic recovery

 

Saturday 20th February 2021

 

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Haghdad: 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 currently on the edges of economic recovery 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 sign and strengthens the country's overall 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 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 productive, investment and operational activity in the public and private sectors, will be supported by a large international presence represented by international multilateral 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.

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KHAS ... AL-RAFIDAIN BANK LEAVES THE SEVENTH ITEM

 

Khas ... Al-Rafidain Bank leaves the seventh item

 

18th February, 2021


Al-Rafidain Bank announced today, Thursday, that it has withdrawn from Article Seven that was previously imposed on it.

The director of Al-Rafidain Bank, Hussein Ali Al-Zubaidi, revealed in a statement singled out by the "National News Center" "about the fulfillment of the requirements for the exit of the Rafidain Bank from the UN decision of Chapter Seven.

Al-Zubaidi explained that "the exit decision came after fulfilling all the bank's financial obligations to international financial institutions."

He favored "his bank obtaining large bank credits after this decision, especially the foreign dealings of state institutions and departments."

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Expectations of an increase in demand for oil to a peak, and a barrel price of $ 150

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19th February, 2021


The British newspaper The Daily Telegraph expects that demand for oil will rise to its highest levels, bringing the price of a barrel to $ 150 during the next five years.

The newspaper stated in a report, that oil appears on the cusp of a new golden age during the next few years, when global demand for crude will reach its peak, but at the same time it warned that the rise in prices to their highest levels ever could accelerate the pace of the shift to electric cars and reduce investment in prospecting.

She indicated that oil prices have witnessed a significant increase since the start of easing the closure restrictions caused by the Corona epidemic, and with the activation of plans to distribute vaccines globally and the emergence of gradual indicators of economic recovery, the price of Brent crude rose from 44.1 dollars in mid-November to 64.5 dollars recently, achieving an increase of 46.2% in about 4 months. Indeed, energy market sentiment has improved with the reopening of factories in China and Japan, and an increase in fuel demand in Europe.

The newspaper pointed out that there is not enough supplies coming to replace the structural decline in the old oil wells, and once the Brent price reaches $ 100, the cost advantage will quickly shift to the green camp (environmentalists), as the price increase will accelerate the migration of huge money To more lucrative green technology, the last step that could wipe out exploration forever.

According to the newspaper, there are doubts about the long-term viability of oil, and fears of long-term risks will close the window of financing, and talk about pending assets frightens investors, which will lead to companies reluctance to pump large sums into huge projects that take seven years to bear fruit.

And you see that the major oil companies are scrambling to reconfigure themselves as green transitional companies, and in this regard, Jean-Louis Le May, of the Energy Hedge Fund and Westbec Capital, said: "Basically, all companies have now recognized the climate emergency, as all of them adopt carbon-neutral targets. It can only be achieved by increasing spending on renewable energy and allowing its oil production to decrease."

Lu Mei believes that the global economy is on the cusp of the largest supply pressure in the history of oil markets, at a time when Goldman Sachs and JP Morgan see us at the top of the foot of the Himalayas due to supply pressure.

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Economist: The continuing rise in oil prices will contribute to ending the financial crisis

 

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20th February, 2021

 

Economic expert Hamza al-Jawahiri spoke, on Saturday, about a plan that, if implemented by the government, would help Iraq out of its financial distress and pay off its debts

Al-Jawahiri said in an interview with "Dijla" channel and "Al-Eqtisad News" followed it, "The continued rise in oil prices will contribute to ending the financial crisis in Iraq, especially with its reaching $ 60

He added that "Iraq will be able to compensate for its material losses and return all the money it withdrew from the Central Bank and the countries of the world from which it borrowed during the past years

Al-Jawahiri pointed out, "The government highlights its role here by developing a comprehensive economic plan in conjunction with raising global oil prices to benefit and end the periodic fluctuation of torrents due to low oil prices

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An economist draws up a plan that would financially revive Iraq  LINK

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Iraq is the fifth in the world and the second in the Arab world with the largest oil reserves for the year 2021

 

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21st February, 2021

 

Iraq ranked fifth in the world and second in the Arab world in terms of the most countries possessing oil reserves for the year 2021, according to the GFP global classification institution

The Foundation stated in a report for the year 2021 and seen by "Al-Eqtisad News", that "Iraq's reserves of crude oil amounted to 148 billion 800 thousand barrels, and thus it ranks fifth in the world after each of Venezuela, which ranked first with an amount of 302 billion 300 million barrels "92 countries possess oil reserves, followed by Saudi Arabia with an amount of 266 billion 200 million barrels. Then Canada comes in third place with 170 billion 500 million barrels, followed by Iran in fourth place with 157 billion 200 million barrels

She added, "Iraq ranked second in the Arab world after Saudi Arabia as the largest oil reserve. Kuwait comes third in the Arab world with 101 billion and 500 million barrels, and then the United Arab Emirates comes fourth with 97 billion and 800 million barrels

She pointed out that "Ethiopia was the country with the least oil reserves, with reserves amounting to 428 thousand barrels, preceded by Morocco 684 thousand barrels, preceded by Jordan with one million barrels

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17 hours ago, DinarThug said:

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Economist: The continuing rise in oil prices will contribute to ending the financial crisis

 

26302.jpg

 

20th February, 2021

 

Economic expert Hamza al-Jawahiri spoke, on Saturday, about a plan that, if implemented by the government, would help Iraq out of its financial distress and pay off its debts

Al-Jawahiri said in an interview with "Dijla" channel and "Al-Eqtisad News" followed it, "The continued rise in oil prices will contribute to ending the financial crisis in Iraq, especially with its reaching $ 60

He added that "Iraq will be able to compensate for its material losses and return all the money it withdrew from the Central Bank and the countries of the world from which it borrowed during the past years

Al-Jawahiri pointed out, "The government highlights its role here by developing a comprehensive economic plan in conjunction with raising global oil prices to benefit and end the periodic fluctuation of torrents due to low oil prices

#######

An economist draws up a plan that would financially revive Iraq  LINK

Them knuckleheads aren't happy unless if they are in a crisis.  Oil will be at 150 a barrel and they will still have their hands outs begging for money from other countries while at the same time pocketing all the stolen money from their oil proceeds.

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Parliamentary integrity: $ 600 billion smuggled by Iraqi officials, under false names, to international banks

 
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16:25 - 02/21/2021
 
 

On Sunday, the Parliamentary Integrity Committee revealed that there are between 450 to 600 billion dollars in foreign banks, which are Iraqi funds that were smuggled abroad, indicating that the committee intends to recover it.

A member of the Integrity Committee, Abdul Amir Al-Mayahi, told Al-Maalouma that "influential personalities and officials in the political process have smuggled money out of Iraq from 2003 until now with fake names placed in those banks and the names of their relatives."

He added that "the size of this money is estimated at 450 to 600 billion dollars," noting that "the funds are huge and it could contribute significantly to solving the Iraq crisis."

Al-Mayahi explained that "the committee is hosting the head of the money recovery department in the government for the purpose of travel and forming a committee to follow up on those funds and recover them to Iraq."

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Learn about the criteria for replacing damaged banknotes
in banks

Learn about the criteria for replacing damaged banknotes in banks

02/21/2021 17:17:00


Translation....


The Central Bank to receive it: news - Papers that contain many writings, drawings, and seals intentionally, which leads to obliteration of its features.  These rejected papers are withdrawn and destroyed by the bank without compensating their owner. The owner of the rejected papers may be compensated if there is convincing evidence that the missing parts have been completely destroyed, and then he decides to provide compensation in whole or in part. 

Standards for fully damaged banknotes according to the directives of the Central Bank of Iraq.  The leashed banknote is part of it, provided that no more than half of it exceeds Iraq’s durable cash with repentance. Fats, colors and oils


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Criteria for replacing damaged banknotes for citizens in banks  LINK

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Al-Hakim, from Erbil: Iraq has a table for all its people to enjoy its riches and blessings

 

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21st February, 2021


Head of the National Wisdom Movement, Ammar al-Hakim, stressed, on Sunday, the necessity to solve the fabricated problems between Arabs and Kurds, while noting that the Iraq table is accommodating for all of its people to enjoy its wealth and blessings.

Al-Hakim said during the funeral ceremony on the occasion of the Iraqi Martyr's Day in Arbil, “We cannot build an independent, stable and prosperous Iraq without strong, dear and free Iraqis, with all its components that feel reassured, respectful, and fair, and are proud of their belonging to one land, history, one state, nation, and a common path and destiny. It is a pride of their sub-identities and their national, social and religious particularities. He added: "We all passed Arabs, Kurds and Turkmen, Shiites and Sunnis, Muslims and Christians, Yazidis and Sabeans with painful and cruel stages in the modern history of our country, which left their psychological, material and emotional effects on all our societies and pushed them to constant concern and concern for their destinies, their future and their people, and it is imperative that we all not rely on the painful past." It is imperative to overcome its accumulations and devastating effects with a different present and a better future that we can make with our intertwined hands and responsible conscious minds."

Al-Hakim addressed the Kurds and said: “As your brother and a true friend, he never lied to you and did not spare you any victory. I invite you frankly and clearly to renew the covenant and promise together, that we will be as we were throughout our history as one hand to complete the process of building the Iraqi state and the Iraqi nation, and to present a successful model for our people and for generations. The coming, on the basis of the unity of soil, blood and history, as well as struggle, jihad and a common destiny, and I invite you to create a stubborn Iraqi dream that includes the dreams of all the original components of the country ... a sincere dream that brings together the dreams of Arabs, Kurds and Turkmen in a renewed realistic national project, strengthened by its results and reap the benefits of all.

He pointed out, "Our country is rich in its multiplicity and diversity, and with its enormous human and material resources, and the table of Iraq accommodates all its children to enjoy its wealth and blessings, and this requires a serious and combined will with a new social and political contract that draws the features of a stable and secure future for all. It preserves everyone's rights and strengthens their position in their homeland." Noting that "the artificial gaps or those that occurred and occur from time to time, between Arabs and Kurds due to pressures, challenges and emergency circumstances must dissipate and disappear, through a joint and solid Iraqi (Arab, Kurdish, Turkmen) speech, calling for citizenship, the collective identity, the Iraqi nation and the supreme interests of the country." 

Al-Hakim went on to say, "Give us solutions and flexibility to stand with you with greater strength, logic and flexibility, and to help you and defend you everywhere," noting that "the security of Iraq is indivisible."

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