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Oil announces the transfer of a copy of the oil and gas law to the Council of Ministers for approval


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The regional government demands Baghdad for the principle of transparency: We have delivered all the data

The regional government demands Baghdad for the principle of transparency: We have delivered all the data
{Baghdad: Al Furat News} The spokesman for the Kurdistan Regional Government, Jotiar Adel, called on Baghdad to adhere to the principle of transparency and be prepared to provide any clarification to remove the problems that may hinder the agreement between the two sides.

Adel said in a statement that he received, "While the approval of the Iraqi budget bill for 2021 is in its final stages and after conducting many discussions with all concerned parties, the Kurdistan Regional Government affirms its commitment to all its duties and its belief in the principle of transparency as stated in the work program of the ninth government cabinet."
He added that the Kurdistan Regional Government “informed the Finance Committee of the Iraqi Council of Representatives through the book numbered (7 - special), on 1-2-2021, on all the details related to the process, revenues and oil expenditures (based on the audit report of Deloitte International), along with Sending statistics related to non-oil revenues and border crossings and their revenues, depending on the annual financial statement of the Ministry of Finance and Economy in the region, not to mention sending tables of numbers and information for the region’s employees according to the biometric registration system. 
He stressed that "the Kurdistan Regional Government always affirms its commitment to the principle of transparency to disclose oil and non-oil revenues to the public opinion and the federal government, and has so far responded accurately and in official letters to all inquiries and questions of the Iraqi ministries of finance and oil, as well as the Finance Committee in the House of Representatives." 
Adel concluded, "The region expresses once again its readiness to clarify any inquiry in this regard, in order to dispel all ambiguities and problems that may cast a shadow on the path of understanding and agreement between the two sides."

Reporter: Alaa Al-Taie
Editor: Wafa Al-Fatlawi

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ERBIL - The Kurdistan Regional Government (KRG) said on Saturday that it had made all data and statistics, related to oil and non-oil revenues, available for Baghdad to help an agreement between the sides on the budget bill for the current year.

Jotiar Adil, a spokesperson for the KRG, said in a statement that the regional government believes in transparency and that Erbil will remain committed to its agreements with Baghdad.

The KRG has made all data, related to revenues and expenditures of oil and non-oil trade, as well as detailed information on the Kurdistan Region's public employees based on the biometric system, available for the finance committee in Iraqi parliament, Adil said.

Stressing on transparency, the spokesperson pointed out that the KRG remains ready to clarify and reveal all information in regards to revenues and expenditures related to oil to ensure Erbil and Baghdad will reach a final agreement on the budget issues and resolve their disputes.

This comes as the regional and federal governments are yet to reach an agreement on the budget bill for the year 2021. However, both sides have been expressing positive signs of reaching a deal over the past few days.

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Erbil announces that it has delivered all oil data to Baghdad: We are committed to transparency

  •  
 2021-03-06 10:35
 
 
 
 

Shafaq News / The Kurdistan Regional Government announced, on Saturday, that it had delivered all data on oil and non-oil revenues and expenditures, in addition to electronic data on the region's employees.

 

Government spokesman Jotiar Adel said in a statement received by Shafaq News, that the Kurdistan Regional Government renews its commitment to all the duties that result from it and its belief in the transparency adopted by the work program of the ninth cabinet.

 

He added that its affirmation of its obligations comes at a time when the issue of approving the general Iraqi budget has reached its final stages, after lengthy dialogues with all concerned parties.

 

Adel explained that the regional government provided the Finance Committee in the Iraqi parliament last December, with all the details related to oil revenues and expenditures, based on the audit and follow-up report carried out by the international "Deloitte" company.

 

He continued by saying that the regional government also sent figures related to non-oil revenues from the crossings and other areas, in addition to electronic data on the numbers of the region's employees. 

 

Adel affirmed the territorial government's commitment to the principle of transparency, referring to the answers to all questions received from the Federal Ministries of Finance and Oil, as well as the Finance Committee in the House of Representatives. 

 

And he expressed the regional government's readiness to answer any other question related to this issue in order to clear the ambiguity that has an impact on the path of understanding and agreement between the two sides.

 

Last December, Baghdad and Erbil reached an agreement on the financial budget, stipulating that the region hand over 250 thousand barrels of oil per day, and half of the revenues from border crossings and others to the federal government, in exchange for a share in the budget of 12.6 percent.

 

The agreement was included in the draft budget, but political blocs in Parliament reject the agreement, which hinders its passage in Parliament.  

 
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4 minutes ago, 6ly410 said:
1613026625650.jpg
 

Erbil announces that it has delivered all oil data to Baghdad: We are committed to transparency

  •  
 2021-03-06 10:35
 
 
 
 

Shafaq News / The Kurdistan Regional Government announced, on Saturday, that it had delivered all data on oil and non-oil revenues and expenditures, in addition to electronic data on the region's employees.

 

Government spokesman Jotiar Adel said in a statement received by Shafaq News, that the Kurdistan Regional Government renews its commitment to all the duties that result from it and its belief in the transparency adopted by the work program of the ninth cabinet.

 

He added that its affirmation of its obligations comes at a time when the issue of approving the general Iraqi budget has reached its final stages, after lengthy dialogues with all concerned parties.

 

Adel explained that the regional government provided the Finance Committee in the Iraqi parliament last December, with all the details related to oil revenues and expenditures, based on the audit and follow-up report carried out by the international "Deloitte" company.

 

He continued by saying that the regional government also sent figures related to non-oil revenues from the crossings and other areas, in addition to electronic data on the numbers of the region's employees. 

 

Adel affirmed the territorial government's commitment to the principle of transparency, referring to the answers to all questions received from the Federal Ministries of Finance and Oil, as well as the Finance Committee in the House of Representatives. 

 

And he expressed the regional government's readiness to answer any other question related to this issue in order to clear the ambiguity that has an impact on the path of understanding and agreement between the two sides.

 

Last December, Baghdad and Erbil reached an agreement on the financial budget, stipulating that the region hand over 250 thousand barrels of oil per day, and half of the revenues from border crossings and others to the federal government, in exchange for a share in the budget of 12.6 percent.

 

The agreement was included in the draft budget, but political blocs in Parliament reject the agreement, which hinders its passage in Parliament.  

 

 

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The Federal Oil and Gas Law is a sudden and disturbing move that calls for caution and action
 
 
Saturday 27th February 2021 19:38
 
Ahmad Mousa Jiyad
Iraq / Development Consultancy and Research, Norway
 

The Opinion Board of the Ministry of Oil discussed and reviewed the final version of the Federal Oil and Gas Law at the session held on Wednesday February 24, 2021. In the statement of the Ministry’s Media Office, Minister of Oil Ihsan Abdul Jabbar Ismail confirmed that this copy will be referred to the Council of Ministers for approval after completion Review it by the concerned authorities in the ministry, and then the cabinet will review this copy, and in turn refer it to the parliament for the enactment of this law.
 
The Media Office did not clarify, in its brief statement, any important and new information about the components and contents of this final version of the bill, nor about its proximity or distance from any of the previous drafts (which are more than three), nor did it adopt it for any of the alternatives previously presented, nor the timeframe for enacting the law. 

The real reasons that prompted this "sudden" move At this particular time, does the timing relate to the issue of approving the budget law 2021 or to the ongoing communication between the federal government and the regional government (including the movements of some politicians and heads of some political and religious forces) or the end of the mandate of the current government and the House of Representatives in the month of October - next October, where elections will be held after Changing its date from the month of June or with prior coordination (hidden or announced) between the announcement of this bill and the proposed amendment to the first amendment to the Iraqi National Oil Company law promoted by the head of the Oil and Energy Committee in the House of Representatives, Hebt al-Halbousi ... or all of these ... or Some of them ... or others.
 
The subject of federal oil and gas law is complex, long and highly politicized, and has been under consideration for more than fifteen years, and he has written and written about it a lot throughout that period. Because of the necessity, importance and necessity of discussing this "final version" of the law in a professional and specialized manner in order to protect the hydrocarbon wealth and in a way that serves the interest of Iraq and the rights of future generations, I find it imperative to make some observations and very briefly.
 
First: Through the statements of the Minister of Oil, it appears that this "final version" of the law has been discussed and approved by the opinion committee in the ministry, before or without knowledge or the contribution of "the concerned authorities in the ministry"!
 
It seems that the same old method is still influential, as the final version was approved in a top-down manner by the top of the administrative hierarchy, "Top-Down," which suggests to the concerned authorities in the ministry that this is what the ministry leadership (represented by the opinion body) wants. This prompts those "concerned authorities" either to agree reluctantly or not to express a serious oppositional opinion or to make formal remarks to record a position and pay for the damage (all of this to avoid problems with the leadership of the ministry).
 
My continued direct contact with concerned oil experts and experts inside Iraq (some of whom are still in service and others outside the ministry) indicate two overlapping positions: the first is a state of despair and frustration, and the second is "they do not listen to us and do not take our observations." This vicious circle and the lack of effective participation does not lead to the drafting of a good law with operational effectiveness that strengthens the oil sector and achieves the interests of the Iraqi economy. The actual examples and evidences of the failure of the superior method in decision-making and in the preparation and enactment of laws are numerous, including the dismantling of the Mufti refinery and warehouse, this particular law, the law on private investment in refineries, the provincial law, and the Iraqi National Oil Company law ... So why insist on a systematic behavior that has proven facts not only on the lack Its usefulness, but its catastrophic damage !!!!
 
Second: Since the beginning of 2007, there have been many drafts of the Federal Oil and Gas Law, three of which have entered the official channels between the executive (government) and the legislative (Parliament). During this entire period, much was written about these drafts (and I personally published numerous analytical studies on these drafts). In short, I can confirm that all of these drafts have become obsolete and are absolutely inapplicable due to the presence of a structural defect, many gaps and catastrophic contradictions in the law itself, in addition to the fact that all of these drafts have been overtaken by many important and very influential fundamental developments.
 
The urgent and important question relates to the proximity or distance of this "final version" adopted by the Opinion Commission to any of the previous drafts !!
 
Third: the three alternatives  
 
In January 2015, the Council of Ministers decided to form a "specialized team" to deal with the oil and gas law. On March 16 of that year, the team presented three alternatives: preparing a new law, amending the 2007 draft law, or negotiating with the regional government on controversial issues of the law. No position has been taken, but cabinet information indicates that the matter was referred, in October of that year, to the Ministry of Oil to complete its study!
 
It is possible that the final version discussed recently will either be a completely new law, according to the first alternative, or an amendment to the form of the 2007 law, according to the second alternative above. Given the impossibility of the second alternative, for the reasons mentioned in the second above, the likelihood of a completely new law remains high.
 
But in this case, the new bill must be totally and radically different from any of the old formulas of the law. In this case, the experience of the past years since 2007 indicates that this matter requires intensive and complex efforts for a long period and may not succeed in the end, given that the period of time for the mandate of the current government and parliament is limited to the upcoming elections in October of this year.
 
And accordingly, why the hurry to pass a complex law so quickly and suddenly without a broad national and specialized dialogue?
 
I am afraid of the politicization of the issue and the legalization of production-sharing contracts for the regional government that serve the interests of foreign oil companies at the expense of the interests of the Iraqi people, especially the region’s residents, and which contradict the Iraqi constitution.
 
Fourth: The cases before the Federal Supreme Court and international arbitration
 
The invitation, which the Federal Ministry of Oil instituted against the regional government and its relevant ministry, has been brought before the Federal Supreme Court about ten years ago, due to the region’s lack of response in presenting its defenses before the court on the one hand and the lack of seriousness of the heads of Iraqi governments, especially Adel Abdul Mahdi, in proceeding with the case. for many reasons.
 
In my opinion, it is not correct (and not necessarily illegal) to present the federal oil and gas bill before the Federal Supreme Court issues its decision in the case before it. In the event of insistence on enacting the law, it will certainly be subject to appeal before the Federal Court in the event that the law is legalized for production-sharing contracts for the regional government.
 
The same applies to the international arbitration lawsuit before the International Chambers of Commerce in Paris, which was submitted by the Ministry of Oil several years ago against the companies and the Turkish government to their successors, the international agreements signed between the two countries, especially those related to the Kirkuk-Ceyhan oil pipeline (which the Ministry of Oil and available information appreciates that the verdict will soon be issued. Which is expected to be in favor of Iraq and a large amount of compensation). Any move or law legalizing the regional government contracts will contribute to Iraq losing this lawsuit in favor of Turkey and cause Iraq great and catastrophic long-term damage.
 
Fifth: The directives of the Council of Ministers
 
On October 1, 2019, the Council of Ministers recommended that the House of Representatives wait for the approval of the oil and gas bill, "until the draft law amending the National Oil Company Law and the completion of the oil and gas bill presented to the State Council."
 
According to the latest information to date, not all issues related to the draft law of the first amendment to the law of the National Oil Company have been finally and formally resolved in the House of Representatives (this is what I will discuss in detail in my next intervention after a few days), which means the need for the Ministry of Oil to wait until the completion of the project Law of the First Amendment to the Law of the National Oil Company, due to the strong interdependence between the two laws and to ensure that there is no overlap, contradiction or competition between them.
 
Of course, the same applies to the State Council, where the Council is supposed to complete the bill referred to it after the completion of the first amendment bill to the National Oil Company Law. Note that the draft law of the First Amendment to the Law of the National Oil Company came in implementation of the Federal Supreme Court's acceptance of the appeal of several basic articles in Law No. 4 of 2018.        
 
 In light of the foregoing, I invite:
 
All sisters and brothers in the Ministry of Oil, especially the leaders of the "concerned authorities" in the ministry, should delve into the analysis and evaluation of the "final version" of the law, taking into consideration the interests of Iraq and preserving its territorial integrity and entity from the implicit calls for dismantling. I am ready to provide a professional professional opinion on all or any part of the proposed law.
I also call on all experts, stakeholders, observers and citizens to prepare to confront the proposed law if it appears that it works against the supreme national interest in favor of any part of Iraq at the expense of other parts and / or that it legalizes production-sharing contracts for the regional government and / or is in conflict with the constitution;
I also sincerely call on the sisters and brothers in the House of Representatives to exercise caution and caution when discussing the draft federal oil and gas law, as well as the draft of the first amendment to the law of the national oil company;
I have written and published a lot about these two laws in Arabic and English and I am ready to provide them to anyone who wants to see them or any of them.
 
Ahmed Musa Giyad
Development and research consultancy
Norway
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Parliamentary integrity: We will have to pass the budget with the political majority

 

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6th March, 2021

 

A member of the Parliamentary Integrity Committee, Representative Taha Al-Defense, said on Saturday that the House of Representatives will be obliged to pass the budget by a majority, especially with the continuing disagreement over the share of Kurdistan

Al-Defense said in a press interview, "The disagreement continues over the share of the Kurdistan region in the 2021 budget, which makes Parliament obliged to pass the budget according to the political majority

He added that "most of the political blocs have objections to the delivery of 250 thousand barrels of Kurdish oil only to Baghdad," noting that "there are demands to increase the quantity, as well as the mechanisms for the delivery of oil

Al-Defense said, "The budget is ready for voting and it is in the possession of the Presidency of the Council of Representatives, and we are waiting for a date set by the presidency to vote on it

##########

MP: Parliament will be obliged to pass the budget by a majority  LINK

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A parliamentary source is likely to include the budget law on the agenda of next Thursday's session

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6th March, 2021


On Saturday, a representative source suggested that the Federal Budget Law for 2021 will be included in the schedule of next Thursday's session, indicating that the contentious paragraphs of the Federal Court Law will soon be resolved.

The source informed Shafaq News Agency; It is possible that the budget law will be included in the agenda of next Thursday's session. The source added that the hope for including the budget on the agenda began to expand, after the vote on the contentious paragraphs in the Federal Court Law, indicating that 4 controversial paragraphs out of 6 points regarding the court's law were resolved (until this news is edited).

Earlier today, Saturday, the Presidency of the Iraqi Council of Representatives held a meeting to discuss the deferred articles of the Federal Court Law.

A parliamentary source informed the Shafaq News Agency; That the Presidency of the Council held a meeting with the heads of the blocks and the Legal Committee to complete the discussion of the remaining 6 articles of the draft law of the Federal Supreme Court. Source added; That 6 articles of the law were not voted on during last Thursday's session. He continued that the Presidency of Parliament is trying to reach with the political blocs to formulate an agreement on the articles of the law in order to complete the vote in the session next Monday.

Last Thursday, the Iraqi Council of Representatives postponed 6 articles of the Federal Court Law due to differences over them, while the rest of the articles of the law were passed. Parliamentary sources told Shafaq News Agency; The political blocs agreed to pass the Federal Budget Law in exchange for voting on the Federal Court law.

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Al-Rafidain is preparing to contract with it .. The Central Bank grants a company a license "outside the controls" 

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6th March, 2021


On Saturday, an informed source revealed that the Central Bank of Iraq granted a company a license to operate outside the controls, while noting that Al-Rafidain Bank is preparing to sign a contract with this company.

The source said to Shafaq News, “The bank granted on November 29, 2020 a license to practice work for the (Ishtar Gate) company specialized in prepaid services, outside the controls and laws, despite the presence of a letter for the bank itself indicating that the granting of the license to any company has stopped before this period, And another book indicates an extension of the moratorium."

In the context, he explained a letter issued by Representative Jamal al-Muhammadawi, and addressed to the Central Bank, in which he requested an answer to his inquiry about how to grant a license to this company despite the suspension of licensing promotion during this period. And the source returned to confirm that "Al-Rafidain Bank is preparing to sign a contract with the (Ishtar Gate) company to replace the (Key Card) electronic payment company even though the (Ishtar Gate) company does not meet the conditions and special laws.

He pointed out that "an agreement took place between Rafidain Bank and Ishtar Gate on the terms of the contract," calling on "the supervisory authorities and the Integrity Commission to investigate this issue."


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1 hour ago, DinarThug said:

The subject of federal oil and gas law is complex, long and highly politicized, and has been under consideration for more than fifteen years

 

1 hour ago, DinarThug said:

And accordingly, why the hurry to pass a complex law so quickly and suddenly

These 2 statements jumped out at me. I really hope the big push to pass this law actually means something 💰💰🤞🏻

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3 hours ago, DinarThug said:

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A parliamentary source is likely to include the budget law on the agenda of next Thursday's session.

The source informed Shafaq News Agency; It is possible that the budget law will be included in the agenda of next Thursday's session. 

I would also like to add it is possible that I will wake up next Thursday an weigh 190 pounds an be a handsome young 25 year old stud again...can’t wait until next Thursday to see which one of these possibilities comes true. 

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Congrat's DOD on your makeover coming because we know they are not going to do JACK!!!!! :D

 

45 minutes ago, DoD said:

I would also like to add it is possible that I will wake up next Thursday an weigh 190 pounds an be a handsome young 25 year old stud again...can’t wait until next Thursday to see which one of these possibilities comes true. 

 

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One of these days, this is actually going to happen.  We who are "informed" on this investment are going to be just as surprised as the general public.  The difference between the informed and uninformed will be in our bank accounts.

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15 hours ago, Half Crazy Runner said:

The subject of federal oil and gas law is complex, long and highly politicized, and has been under consideration for more than fifteen years

 

  16 hours ago, DinarThug said:

And accordingly, why the hurry to pass a complex law so quickly and suddenly

Yeah. What's the hurry? Take your time. I mean you've only been debating it for a measly 15 years. The people can suffer another 15 years no problem. 

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"Adjusting the exchange rate" ... A deputy talks about a government response to the parliamentary demands to reduce it

Posted 5 hours ago
News source / Baghdad today
1615127900_150336.jpg
Baghdad today
News source / Baghdad today
A member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, denied, Sunday (07 March 2021), that there is no real seriousness in Parliament to change the exchange rate of the dollar to the previous price.

Jawdat said, to (Baghdad Today), “The talk about the lack of a parliamentary majority rejecting the adjustment of the dollar’s exchange rate after it was raised by the Ministry of Finance and the Central Bank, is inaccurate and far from reality. On the contrary, the majority with the exchange rate adjustment and returning it to What was it or less than what was stated in the 2021 budget bill.

She added that "adjusting the exchange rate of the dollar against the Iraqi dinar remains within the authority of the Iraqi government. As for Parliament, it cannot make any amendment except with the approval of the government," noting that "until the moment there is no government approval for this amendment, but rather there is insistence on maintaining the exchange rate." Without any change, and this is what most deputies reject.

Earlier, a member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Sunday (07 March 2021), that the political movement is still continuing within the House of Representatives, with the presence of parliamentary signatures submitted to the Parliament in order to restore the exchange rate of the dollar against the dinar or reduce the price. Present.

Cougar said in an interview with (Baghdad Today), "The political movement in this regard is still continuing, even there are requests submitted by the signatures of a large number of members of Parliament to the Parliament, for the exchange rate of the dollar."

He added, "These signatures remained unchanged, because the Finance Committee and Parliament do not have any authority to amend or return the exchange rate of the dollar."

And he indicated, "The government is difficult to go in this direction, because changing the exchange rate or returning it to its previous price needs to reformulate the 2021 budget bill anew

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The Financial Committee clarifies the issue of restoring the exchange rate to its previous position

Posted 6 hours ago
News source / NR TV
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The Parliamentary Finance Committee denied, on Tuesday, the devaluation of the currency at the present time despite the increase in oil prices in the global markets, attributing the reasons to the fact that this increase is not real, but imaginary, as a result of Saudi Arabia reducing its exports that can be returned at any time that affects oil prices globally .

In an interview with NRT Arabia, (March 7, 2021), Cougar said , “It is not possible to manipulate the exchange rate or reduce it at the present time, as this will cause great confusion in the market movement in a way that makes the citizen lose confidence in the street, losing confidence in the country's economic policy and making it shaky as a result of low oil prices. Once again, the citizen is the first to endure obstacles such as those hasty decisions that may negatively affect the economy in the future.

He added that “Iraq is a rentier country that depends mainly on oil to finance its economy, which requires the government of Prime Minister Mustafa Al-Kazemi to move quickly and exploit the increase in order to maximize the bank’s treasury that has fallen to a bad extent, and to pay off owed loans such as Iranian and other loans, as well as fill the budget deficit. It can also be used to provide a supplementary budget.

Cougar pointed out that "the markets have now stabilized at the new price, as goods are traded at the new prices of the dollar. Any change at the present time is unthinkable that would harm the merchant and the citizen alike."

 

For its part, NRT Arabia surveyed the effect of the currency devaluation on traders and the movement of the markets at the present time, as traders emphasized that “the high price of the dollar caused great losses for them, which forced some of them to merge their stores in order to maintain their livelihoods, while some of them were forced to liquidate their stores as a result of losses because of the lack of Enables them to pay the workers' wages and pay the rents for their sites.

They explained that “the Chamber of Commerce organized several times a protest pause as a result of the damage that befell merchants because they import goods at a high price because there is no discreet local product, while they sell goods in Iraqi dinars, whose value has become low and is not sufficient to pay the financial obligations of traders, without the government moving any inhabitant or turning to their suffering. “.

Traders explained that "returning the price of the dollar to what it is will lead to the recovery of economic movement in the Iraqi market again as a result of the high purchasing power of the citizen and his economic stability

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Conscious / Parliamentary Finance: Parliamentary signatures submitted to restore the exchange rate of the dollar

March 7, 2021 78 Views

Conscious / Baghdad

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Sunday, that the political movement is still continuing within the House of Representatives, with the presence of parliamentary signatures submitted to the Parliamentary Finance in order to restore the exchange rate of the dollar against the dinar or reduce the current price.

Cougar said in a statement followed by (Iraqi Media News Agency / INA ) that "the political movement in this regard is still continuing, even there are requests for the signatures of a large number of members of Parliament submitted to the Parliament for the sake of the dollar exchange rate."

He added, "These signatures remained unchanged, because the Finance Committee and Parliament do not have any authority to amend or return the exchange rate of the dollar."

And he indicated, "The government is difficult to go in this direction, because changing the exchange rate or returning it to its previous price needs to reformulate the 2021 budget bill anew

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Devaluating the Iraqi currency is devastating, MP says

Shafaq News/ The member of the parliamentary Economic Committee, Nada Shakir Jawdat, stressed on Sunday that the devaluation of the Iraqi dinar has detrimental downsides, hinting that the political blocs agreed on increasing the exchange rate of the US dollar.

 

 

 

Jawdat said in a statement to Shafaq News Agency, "the devaluation of the Iraqi currency is very dangerous since our economy is rich in oil and we have many great resources. therefore, Iraq is not in need of this devaluation, especially that the Iraqi economic system is unilateral and built on import which is different from countries with multilateral economy such as Turkey where increasing the foreign exchange rate won't affect citizens."

 

 

 

Jawdat added, "the government must look into the matter carefully and evaluate it correctly, taking into consideration how it will affect the Iraqi citizen."

 

 

 

She also noted that only 32 parliament members attended the special session we requested recently to discuss the reasons behind the drop in the exchange rates and financial policy, which means that political blocs have already agreed and signed the PM Mustafa Al-Kadhimi's decision on increasing the exchange rate of the foreign currency.

 

 

 

The Central Bank Iraq already increased the selling price from 1182 to 1460 Dinars per Dollar in an attempt to mitigate the decline in oil revenues.

 

 

 

The member of the parliamentary economic and investment bloc, Mazen Al-Faili, revealed on January 30 to Shafaq News Agency that a group of MPs made a request to change the exchange rate to 130, 000 dinars in the budget law of 2021.

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