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

[DinarThug]

LINK

Al-Kazemi government comments on the possibility of Parliament changing the dollar exchange rate

 

 

22nd March, 2021

 

A spokesperson for the Prime Ministry affirmed, Monday (March 22, 2021) that Parliament has the right to express its opinion on the exchange rate of the dollar, "but its decision is not binding

In a press statement, Minister of Culture Hassan Nazim said that Parliament has the opportunity to express its opinion on the exchange rate of the dollar and change it within the budget, but his decision will not be binding on implementation by the government, as the price change is related to the government and the Central Bank, which set the dollar exchange rate at 1450 dinars

Nazem explained that it is the responsibility of Parliament to decide whether to approve the budget and pass it, or to make amendments or changes to it

Nazem also said that the federal government has accomplished what is required of it in the budget file 3 months ago and now work is entrusted to Parliament in all respects, indicating that the government can help facilitate matters or conduct interpretations and negotiations on some files

#########

The government responds to Parliament's efforts to change the price of the dollar and clarifies its position  LINK

[DinarThug]

LINK

Economic center: Parliament cannot change the exchange rate of the dollar

 

 

 

03/22/2021 09:33:33

 

 

Wissam Al-Hilu, Director of the Iraqi Political Economic Center, stressed that the House of Representatives cannot change the exchange rate of the dollar.

 
In a statement, Al-Furat News received a copy of it, Al-Hilu said, 

"One of the main tasks of the Iraqi Central Bank is to determine the exchange rate in coordination with the Ministry of Finance and the government, and that the House of Representatives has no right to determine the exchange rate."

He indicated that "if the parliament insists on changing the exchange rate in the budget allocated for the year 2021, the Central Bank of Iraq will appeal the budget."

 

Al-Hilu added, 

"What is happening in the corridors of the House of Representatives is nothing but electoral gain among specific blocs in order to gain the friendliness of the Iraqi street," 

calling for "strengthening state revenues and customs, controlling all border outlets and supporting sectors affected by the change of the exchange rate and finding quick economic solutions that enhance the Evaluating the Iraqi private sector and supporting small enterprises with bank loans that enhance the labor market in Iraq. 

[DinarThug]

LINK

The President of the Bahrain Association of Banks participates in a seminar for the Association of Iraqi Private Banks on Arab banking and investment cooperation

 

 

22nd March, 2021

 

The Chairman of the Board of Directors of the Bahrain Association of Banks, Adnan Ahmed Youssef, participated in a seminar organized by the Iraqi Private Banks Association with the participation of

THE GOVERNOR OF THE CENTRAL BANK OF IRAQ,, MUSTAFA GHALEB 

the Governor of the Central Bank of Jordan, Ziad Fariz, the Chairman of the Association of Banks, Wadih Al-Handal, and a number of Arab banking and economic leaders, by video call on the 21st March 2021

The symposium dealt with many important issues such as the impact of the Corona pandemic on Arab banks, strategies for dealing with troubled assets, in addition to ways to enhance Arab banking and investment cooperation, overcoming obstacles facing inter-Arab investments and attracting foreign investments

During the symposium, the Chairman of the Board of Directors of the Bahrain Association of Banks, Adnan Ahmed Youssef, presented a research paper in which he explained his vision of the issues on the agenda of the symposium, stressing that "the impact of the Corona pandemic on Arab financial and banking institutions will be profound, and it will be expected that the profitability of financial institutions and others will decrease last year." 

During this year, the quality of some financing portfolios has also deteriorated, especially for clients in the most affected sectors such as aviation and tourism, as well as some disruptions in corporate financing lines and the tendency of individual clients to withdraw their deposits, all of which will create temporary pressures on financial institutions

He added, "What is comforting is the wide response of Arab central banks to these repercussions and their taking many measures that support banks in facing them, as well as the broad economic and financial packages provided by Arab governments to support the affected groups and sectors, and the consensus and determination of the worlds to return the economy to its natural course, whether at the global level." Or at the level of each country separately, by expanding the provision of vaccines at the present time

He pointed out that "of course, banks and financial institutions, and even commercial institutions in light of such situations, that is, situations of global crisis, begin to activate contingency plans to ensure business continuity at all operational and technical levels, and to continue providing services to all customers, securing financing lines and intensifying them." Monitor customer portfolios and others

With regard to strategies for dealing with the main challenge facing banks and financial institutions at this stage, which is the rise in bad debts due to the negative repercussions that the pandemic has generated on economies, companies and individuals, Youssef explained that "increasing bad loans is a serious risk that should not be underestimated, but facing this challenge." It does not rest on the banks alone, but also on the supervisory authorities and the overall policies of the government

He added, "On the first level, which are the measures and strategies that banks must take, banks must develop comprehensive strategic plans detailing how they deal with these debts in a systematic manner, including planning processes for identifying bad debts in the financing portfolio and dividing the portfolio into similar loan groups. Within the portfolio, to be able to direct efforts and to accommodate different types of business strategies to preserve value, identify recovery methods, and establish early warning systems

As for the second level: measures and strategies that must be taken by the supervisory authorities, Youssef believes that “the supervisory authorities must provide encouragement and direct banks to review, evaluate and address the quality of their assets, especially their financing portfolios, as well as directing shareholders and management to establish specialized units with relevance. Appropriate human and technical resources within banks to oversee bad loans and seek solutions to get rid of these loans

As for attracting foreign and Arab investments, he stated that "Arab countries’ shares of foreign direct investments still represent a small percentage of the volume of foreign direct investments in the world, as this percentage is less than 1% for all Arab countries

I bought that "attracting foreign investment is not an easy process, and it needs coordinated national efforts, legislation, incentives and a safe investment environment. 

Therefore, Arab countries, in addition to the well-known measures related to improving the investment environment and climate, should first work to launch the free movement of capital in foreign currencies." 

Second, giving freedom to establish companies either in local currencies or in foreign currency or both, and when capital increases for existing companies are given the freedom to do so in order to avoid losses of currency depreciation, which they suffer in many Arab countries

He continued: “Third, allowing companies to increase their capital by issuing sukuk in local or foreign currency. 
Fourth, not to take sudden measures affecting these investments, such as imposing additional fees or expenses. 
Fifth, seeking to stabilize the movement of local currencies against foreign currencies. Red tape and costly government procedures when establishing a new business

[DinarThug]

LINK

Basra is preparing to launch giant projects

 

 

22nd March, 2021

 

Basra Governorate, which is the lung of Iraq, is preparing to launch giant projects in various economic and developmental fields, including the large port of Faw, the artificial island for the export of oil, and major steel and iron projects, 

at a time when Basra continues to be on the top of the list of global cities influencing the provision of energy sources, the balance of supply and demand, and price stability World record barrel of oil

Oil Minister Ihssan Abdul-Jabbar said in a press interview, that “Basra exports more than two million standard barrels per day through its oil ports in the northern Arabian Gulf,” indicating that “this extractive material constitutes about 90% of the country's financial resources annually

Abdul-Jabbar explained, “The Ministry of Oil signed two years ago a memorandum of understanding with a Dutch company to complete a study project for the construction of the (artificial oil island) in the northern Arabian Gulf by next year 2022, with an export capacity of 3 million barrels per day, and a capacity of 6 million standard barrels, with raising storage capacities at a higher rate in the future, to meet the global market’s needs of crude oil, ”indicating that“ the repercussions of the Covid-19 epidemic affected the global economy and investments, causing a slowdown in the subsequent steps of the project

Among the strategic projects under discussion and implementation that aim in the long term to boost production in Basra, the Minister of Oil stated that “negotiations are continuing between the Ministry of Oil and the American (ExxonMobil) and Chinese (PetroChina) companies regarding investment in the (Integrated Southern Iraq) project in the field of Energy, ”referring to“ the cabinet vote in mid-2019 to establish the project, worth $ 53 billion, and for a period of 30 years

On the other hand, government efforts are continuing in Basra Governorate, with government efforts to complete the final stages of the (Faw Grand Port) project, which is one of the largest ports in the world. Transport Minister Nasser Hussain Bandar announced, "The signing of the contract for the construction of the first phase with the South Korean (Hanowa) Company" indicating that "the project consists of 5 berths and deepening the navigation channel to 21 meters. The contract also included the construction of the tunnel that connects the port with the highway west of Basra." In addition, the Ministry of Industry has begun reviving and developing major industrial companies for petrochemicals, industrial fertilizers, and iron and steel in the Khor Al-Zubair industrial area

The Director General of Iron and Steel, Abbas Hayal, said that "foreign companies started their work last year in a project to rehabilitate, modernize and install the equipment of the rolling mill and steel with a capacity of 600 thousand tons per year," indicating that "the Council of Ministers approved, in accordance with Resolution (25) of 2017, to proceed with the implementation of my contract. Rehabilitation of steel and rolling mill manufacturers and their services by the Turkish UP Holding Company during a period of (20) months at a cost of (118) million dollars with commitment to the agreed production capacity of (500) thousand tons per year, and in a manner that makes the General Iron and Steel Company one of the profitable companies capable of insuring The salaries of its employees and enables it to achieve profits

[DinarThug]

This Is An Important Development For Foreign Investment !  

 

     
 

LINK

New York Convention: Legal Opinion

 

 

19th March, 2021

Iraq finally says YES to Arbitration.

 

The Law on the Accession of the Republic of Iraq to the New York Convention 1958 on the Recognition and Enforcement of Foreign Arbitral Awards finally got assent from parliament.

For many years, the law of arbitration has been on the parliament's desk awaiting approval. The Iraqi parliament has finally decided to accept the ratification of the New York Convention of 1958 on March the 4th, 2021, to support the government's efforts to promote international investment and commerce in Iraq.

On the 4th of March 2021, the Iraqi Parliament has approved the "Accession of the Republic of Iraq to the Convention on the Recognition of Foreign Arbitral and its Implementation (New York 1958)" which ratifies the Iraqi government accession to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards.[1] The Cabinet of Ministers headed by Haider Al-Abadi voted to approve the Convention in April 2018.

 

Iraq is now attracting more investors than ever before; implementing this law will assist the Iraqi rule of law framework and road map in attracting more foreign investors.

 

The ratification of the New York Convention has the ability to simplify and strengthen the method of enforcing international arbitral awards in Iraq.

 

The convention gives international investors a sense of security by ensuring that international arbitral awards can be enforced against companies with assets in Iraq.

Arbitration remains the best guardian for international trade and foreign investments.
 

At a time of fallback and protectionism, it also remains a powerful peacemaker.

 

Initially, The Riyadh Arab Agreement for Judicial Cooperation of 1983 (the "Riyadh Convention") and the Enforcement of International Judgments Law (No. 30) of 1928 established the essential basis for the enforcement of foreign arbitral awards before the New York Convention. The jurisdictions from which awards could be granted is severely restricted by these rules.

There are three limiting clauses in the Law of Accession that should be considered:

1. The provisions of this Convention vis-à-vis the Republic of Iraq shall not apply to arbitral awards made prior to the entry into force of this Law.[2]
2. The Convention shall apply only to the recognition and enforcement of decisions made in the territory of another Contracting State on the basis of reciprocity.[3]
3. That the Convention shall only apply from the Republic of Iraq only to disputes arising out of contractual legal relations that are commercial under Iraqi law.[4]

The Law of Accession will take effect once it has been published on the (Al-Waqai Al-Iraqiya), the official newspaper of the Republic of Iraq, which should happen soon.

[Retiredofficer]

1 hour ago, DinarThug said:

 

 

 

 

     

....then crap away the next day. 

[dinarham]

Good news about dinar is coming from different entities . Something is wacky here though as the CBI allegedly does not have the authority to set monetary policy . Central banks around the world are owned by groups from  the private sector  so it would be dicey if they did have the authority . A sovereign nation must control their own currency ,it's a required.

[dinarham]

The big currency dealers seem to be out of dinar ,back ordered or out of stock on everything.

[DinarThug]

2 hours ago, DinarThug said:

The Kurdistan Democratic Party (KDP) reveals an evolution in the draft budget and allocating 15 billion dinars to Halabja

 

22nd March 2021

The Kurdistan Democratic Party bloc revealed, on Monday, the allocation of 15 billion dinars to Halabja as part of the budget law, which confirmed that the agreement between Baghdad and Erbil regarding the project has not collapsed.

The deputy head of the parliamentary party bloc, Bashar al-Kiki, told Shafaq News that the original agreement was based on the proposal of the Shiite blocs, and the regional government delegation accepted it and was approved by the Parliamentary Finance Committee by vote, but an amendment occurred in two paragraphs during the printing of the decision, contrary to what was voted on. 

"We consider this amendment to be a violation of the agreement between the two sides first, and a somewhat retreat by the Shiite blocs, secondly," he added. 
 

"The presidency of the Council and the heads of the Shiite blocs assured the Kurdish delegation during congratulations on Nowruz in the office of the Vice President of the Council, that the amendment that occurred in some paragraphs and the wording will not affect the origin of the agreement between the two sides and can be dealt with without any difficulties."

Al-Kiki stressed that "legally, the Parliamentary Finance Committee adheres to the text of Article 11 voted upon and will be presented as it is without modification, indicating that the goal is to postpone the budget voting session to reach a Shiite consensus on a number of contentious issues between them." 

Al-Kiki revealed that the Finance Committee approved an amount of 15 billion dinars for Halabja Governorate from transfers at the request of the Kurdish representatives, pointing out that the Kurdish forces have repeatedly demanded that the rights and entitlements of Halabja victims be included in the budget in accordance with the law amending the Rafha and Halabja Victims Law of 2003, but it has not been decided upon. From the Finance Committee for no reason mentioned. 

He praised the decision of the House of Representatives, which stressed the need to complete and accelerate the procedures for converting Halabja into a governorate.

The Iraqi parliament had failed to vote on the federal budget bill for 2021, following the continuing disagreements over some items. The budget allocations are estimated at 130 trillion Iraqi dinars (about $ 89.6 billion). 

Article 11 of the draft budget relates to the share of the Kurdistan Region, and stipulates that it will deliver 250 thousand barrels of oil per day, with tax revenues to Baghdad, in return for receiving 12.6 percent of the budget. 
However, some political blocs are demanding that the article be amended to include a text that holds anyone who decides to spend these funds to the region legally responsible if their oil is not delivered to the federal government.

Political blocs also reject what was stipulated in the budget to exclude a segment of citizens whose monthly salaries exceed 1.5 million dinars (about $1030) from benefiting from the ration card, which is a program for the distribution of food rations to the population that has been followed since the imposition of the blockade on the country in the nineties of the last century.

And other blocs refuse to vote on the budget if the exchange rate of the dinar against the dollar is not modified, by returning it to its normal state of 1168 thousand dinars per ($ 100) instead of 1450 per ($ 100).

Iraq relies on oil sales revenues to finance about 95 percent of state expenditures, and is suffering a stifling financial crisis, as a result of the decline in crude prices under pressure from the Corona pandemic.

 

LINK

Political analysis: the Kurds are trying to obtain more allocations through the province of "Halabja"

 

 

22nd March, 2021

 

Political analyst Sabah Al-Taie said that the Kurds are trying to obtain more allocations in the budget by approving Halabja Governorate, pointing out that there is A POLITICAL CONSENSUS TO PASS matter with known goals

Al-Tai said that "the region's percentage of the budget will increase in the coming years, by increasing the number of Kurdistan governorates after the approval of the creation of Halabja Governorate

He added, "Parliament raised a letter to the government in order to approve that Halabja be a governorate like the rest of the provinces, and therefore there are lined agreements to increase the amounts allocated to the region in the budget

And that "what is happening inside the parliament confirms the existence of an attempt by all political parties to ENSURE THE SHARE OF THE KURDS in the budget and not to go towards a majority vote, with the aim of not losing a major player in the crucial votes for some important positions such as the three presidencies, especially the prime minister and parliament

[GreedyDinar07]

You are right Dinarham...Safedinar is back ordered on everything....I want to see how long that will last.

[DinarThug]

2 hours ago, dinarham said:

The big currency dealers seem to be out of dinar ,back ordered or out of stock on everything.

That’s Because The Umbertino Stromboli Cart Syndicate And The Vatican Are Buying It All To Try And Corner Market !  

 

     

[DinarThug]

LINK

Macron to Pope Francis: Your visit to Iraq is a real turning point

 

 

22nd March, 2021

The French President, Emmanuel Macron, congratulated Pope Francis in a phone call on his recent visit to Iraq, which he described as a "real turning point" for the Middle East, according to the Elysee.

This call, which took place on Sunday, At the request of the Pope, according to the Elysee, it is the fourth since the election of Macron in 2017. The last call was made, on October 30, the day after a knife attack that killed three people at a church in Nice. 
 

The French presidency said that Macron "initially wanted to congratulate Pope Francis on his historic visit to Iraq," and touched on "its impact and importance," describing it as a "real turning point for the region."

At the beginning of this March, the Pope made a three-day visit to Iraq, the first for a greater pontiff to this country, which is still experiencing security tensions.

The Elysee noted that Macron and the Pope "shared their thoughts and concerns about the crises that destabilize many regions of the world: the expansion of extremism in Africa, whether in the coast or in the eastern coast of the continent, the situation in Lebanon, and more broadly the instability caused by countries that use religious diplomacy for ends. Political."

The president, who visited the Vatican in June 2018, also discussed with the Pope "the challenges of the world after Covid-19," according to the Elysee.

[dinarham]

8 minutes ago, DinarThug said:

That’s Because The Umbertino Stromboli Cart Syndicate And The Vatican Are Buying It All To Try And Corner Market !  

 

      Crap !

 

[horsesoldier]

9 minutes ago, DinarThug said:

That’s Because The Umbertino Stromboli Cart Syndicate And The Vatican Are Buying It All To Try And Corner Market !  

 

     

I knew it all along....The Pope is a Reptilian 

[dinarham]

Crap! Hail Mary full of Grapes !

[horsesoldier]

10 minutes ago, DinarThug said:

LINK

Macron to Pope Francis: Your visit to Iraq is a real turning point

 

 

22nd March, 2021

The French President, Emmanuel Macron, congratulated Pope Francis in a phone call on his recent visit to Iraq, which he described as a "real turning point" for the Middle East, according to the Elysee.

This call, which took place on Sunday, At the request of the Pope, according to the Elysee, it is the fourth since the election of Macron in 2017. The last call was made, on October 30, the day after a knife attack that killed three people at a church in Nice. 
 

The French presidency said that Macron "initially wanted to congratulate Pope Francis on his historic visit to Iraq," and touched on "its impact and importance," describing it as a "real turning point for the region."

At the beginning of this March, the Pope made a three-day visit to Iraq, the first for a greater pontiff to this country, which is still experiencing security tensions.

The Elysee noted that Macron and the Pope "shared their thoughts and concerns about the crises that destabilize many regions of the world: the expansion of extremism in Africa, whether in the coast or in the eastern coast of the continent, the situation in Lebanon, and more broadly the instability caused by countries that use religious diplomacy for ends. Political."

The president, who visited the Vatican in June 2018, also discussed with the Pope "the challenges of the world after Covid-19," according to the Elysee.

Looks like Macron is giving da Pope a Wet Willie in his Right Ear. Probably some sly Global Elitist new secret greeting. 

[6ly410]

 

The high cost of not returning the dollar to its previous state ... Deputy warns

Posted 4 hours ago

https://iraqakhbar.com/2984523t

News source / NR TV

News source / NR TV

 

MP Muhammad Shi`a al-Sudani called on the government and “colleagues” to restore the exchange rate of the dollar to what it was, in order to avoid the “hungry revolution”, which would be costly many times the difference in price achieved.

Al-Sudani wrote a tweet on “Twitter” today (March 22, 2021), “To the government, colleagues and those concerned, stop stubbornness and do not take pride in sin, returning the dollar exchange rate to what it was an unavoidable decision.”

He added, "Because the alternative is a revolution of the hungry, and it will be at a price multiplied by the difference in price achieved."

And Bhachtak concluded, “# Reducing the price of the dollar

[6ly410]

Al-Sudani: The revolution of the hungry is coming due to the government's stubbornness regarding the continuation of the dollar exchange rate

Posted 4 hours ago

https://iraqakhbar.com/2984495

News source / Tigris Channel

News source / Dijla Channel

MP Muhammad Shi`a Al-Sudani warned, on Monday, of an upcoming hungry revolution due to the government's stubbornness regarding the continuation of the dollar exchange rate.

Al-Sudani said in a statement that "to the government, colleagues and those concerned, stop stubbornness and do not take pride in sin, returning the dollar exchange rate to what it was."

Al-Sudani added, "The reduction decision is necessary because the alternative is the revolution of the hungry, and it will be at a great cost times the difference in price achieved

[6ly410]

 

Deputy for Saeron: The Kurdistan quota complex has a simple solution .. 3 requests that have delayed approval of the budget

Posted 4 hours ago

https://iraqakhbar.com/2984421

News source / Baghdad today

News source / Baghdad today

Baghdad today - Baghdad

MP Badr Al-Ziyadi, a member of the Saeroun bloc, spoke today, Monday, about the latest discussions of the 2021 budget bill, and the parliamentary requests that hindered its passage during the previous two sessions.

Al-Ziyadi said, in a televised interview, followed by (Baghdad Today), that "a simple knot in Article 11 of the share of the Kurdistan region in the 2021 budget has caused a rift between the delegation of the region and the political forces."

He pointed out that "these contracts are subject to dissolution, which is not one of the last of the budget, but there are other things."

Speaking of this node, he went on to say, "The clause of deduction from the sums disbursed to the region has been amended from extracting oil for the past year, and the transfer of oil and extracted companies from one month to one year," adding, "As the Parliamentary Finance proposed that it be for a full year, while the Kurdish delegation insisted that the deduction be Month by month, and we expect to reach a compromise that will end the dispute permanently.

And "new requests appeared that affected the approval of the budget despite the vote on the budget by agreement of the political blocs in the Finance Committee," describing what happened as a "serious matter."

"The requests include the addition of the absentees in the governorates, and the matter is difficult as they have not yet been inventoried, and the Al-Fateh bloc requested the addition of 35 thousand job degrees, and these matters are difficult to approve because the budget was written and completed, and the additions will rewrite the budget," he said.

He continued, saying that "the new requests, including the adjustment of the exchange rate, may delay approval of the budget and open the door for other blocs to submit new requests, which means delaying approval for a long time."

In the same context, Al-Ziyadi stated that "there are those who demand an amendment to the exchange rate in parliament, and the matter is not legally permissible because it is within the authority of the Central Bank in accordance with the law and has nothing to do with the House of Representatives determining it," describing the insistence on this matter as "electoral auctions to charge the airspace."

And he cautioned that "any decision that involves a financial setback and contradicts the law, the government may challenge it before the judiciary, and therefore it will not be implemented."

A member of the Kurdistan Regional Parliament, Osman Karim, responded today, Monday, to the "accusations" of obstructing the approval of the budget by the Kurds, while he confirmed that there is no retreat by the regional government to deliver oil to Baghdad.

Karim said in an interview with (Baghdad Today), "The regional government is committed to delivering 250 thousand barrels of oil, which is the text that it agreed upon with the federal government, and there is no retreat at all in this regard."

He added, "Whatever the price of oil, the region is committed to delivering this quantity, and negotiations are still going on and the regional government has not disavowed it. Rather, what happened is that the political blocs retreated from their positions, but we hope to reach a solution before the parliament session next week."

A member of the House of Representatives for the “Al-Fateh” coalition, Mukhtar Al-Mousawi confirmed, on Monday (March 22, 2021), that the next session of the House of Representatives will be crucial to pass the budget bill for 2021, indicating that some Kurdish forces are trying to impose their positions on the political forces.

Mousawi said in an interview with (Baghdad Today), "The delay in legislating the budget law has greatly affected citizens and state institutions. Therefore, it is unreasonable for the situation to continue as it is," indicating that "the Kurds are trying to impose their positions on the political forces and this is what we do not accept." .

He added, "Kurdish forces have to look for the country's interest, not its political and personal interests," accusing it of "obstructing the passage of the project throughout the current period."

Moussawi stressed that "the next session of the parliament will be decisive in passing the budget bill, whether the Kurds attended or not," expressing his hope to "reach a fair and equitable agreement for all before the session is scheduled."

The House of Representatives raised the voting session on the 2021 budget until Saturday (March 27, 2021), due to the disagreements that some of its items had received during the two sessions last Friday and Saturday

[6ly410]

 

Parliamentary Committee: Finance insists on not changing the exchange rate of the dollar

Posted 6 hours ago

https://iraqakhbar.com/2984176

News source / Tigris Channel

News source / Dijla Channel

 

 

The Parliamentary Finance Committee confirmed today, Monday, that the Ministry of Finance is still insisting on not changing the exchange rate of the dollar against the Iraqi dinar, while it indicated that there is no problem with the World Bank by changing the exchange rate.

A member of the committee, Abdul Hadi Al-Saadawi, said in a statement to "Tigris", that "changing the exchange rate of the dollar can take place through consultation with the Central Bank," noting that "setting 130,000 dinars for $ 100 would be appropriate, reasonable and acceptable."

He added that "the only one affected by the rise in the dollar is the simple citizen, because commodities have risen dramatically," noting that "the World Bank is not exposed to changing the exchange rate and there are no problems, but the Ministry of Finance is still insisting on not changing the price

[Jaygo]

16 minutes ago, 6ly410 said:

 

Parliamentary Committee: Finance insists on not changing the exchange rate of the dollar

Posted 6 hours ago

https://iraqakhbar.com/2984176

News source / Tigris Channel

News source / Dijla Channel

 

 

The Parliamentary Finance Committee confirmed today, Monday, that the Ministry of Finance is still insisting on not changing the exchange rate of the dollar against the Iraqi dinar, while it indicated that there is no problem with the World Bank by changing the exchange rate.

A member of the committee, Abdul Hadi Al-Saadawi, said in a statement to "Tigris", that "changing the exchange rate of the dollar can take place through consultation with the Central Bank," noting that "setting 130,000 dinars for $ 100 would be appropriate, reasonable and acceptable."

He added that "the only one affected by the rise in the dollar is the simple citizen, because commodities have risen dramatically," noting that "the World Bank is not exposed to changing the exchange rate and there are no problems, but the Ministry of Finance is still insisting on not changing the price

Didn’t Kuwait say the exact same thing and then RV’d the next day?? I don’t know I’m asking. Thought that is what I heard before. Could be wrong. 

[Half Crazy Runner]

1 hour ago, horsesoldier said:

Looks like Macron is giving da Pope a Wet Willie in his Right Ear. Probably some sly Global Elitist new secret greeting. 

😆 and all I can think of is, do you really want to be doing that during a pandemic??? 

[DinarThug]

LINK

Parliamentary work presents a new vision for employing 10 million unemployed citizens

 

 

22nd March, 2021

 

The Parliamentary Labor, Social Affairs, Immigration and Displacement Committee presented a new vision through a joint working paper with the relevant ministries, which will be presented to the House of Representatives in the coming weeks, to employ Iraqi manpower and reduce unemployment, as well as legalize and impose strict measures on foreign workers coming to Iraq

 

A member of the committee, MP Fadel Al-Fatlawi, said in an interview with Al-Sabah newspaper, which was followed by Al-Eqtisad News, that "the number of unemployed is large and from various segments, including college graduates, while the recent statistics indicate that there are more than 10 million unemployed." 
 

He explained, "The joint paper submitted to Parliament will be discussed in the coming weeks, and it includes the formation of a special administration made up of representatives of the relevant ministries (industry, agriculture, labor, planning)

 

He added that "there are hundreds of factories that are idle and accommodate millions of workers, while the current effective laboratories include a large number of expatriate workers, so there must be strict procedures to legalize foreign workers coming to Iraq, and pay attention to the Iraqi workforce in the various oil and agricultural industrial sectors." 

 

He continued, "The committee's vision requires that the productive and service ministries absorb the Iraqi workforce and integrate them into the productive factories, such as the petrochemical, textile, steel and iron industries, and these factories absorb thousands of local unemployed workers

Al-Fatlawi pointed out, “The committee urged the ministries of industry and agriculture to involve the local workforce in their sectors and factories, including the cement industry, which needs to develop and open new production lines.
For example, (Kufa Cement Factory) demands a loan of 50 billion dinars to open new lines.

Thus, it is possible to involve large numbers of the unemployed, up to 3000 unemployed

 

He continued, "The committee identified these priorities with the aforementioned working paper, and was sent to all relevant ministries, to the Minister of Finance and to the Prime Minister’s Office, for the need to develop a plan to develop this paper and implement it and its priorities while providing the capabilities and providing the correct management.".

 

He revealed "the presence of 1.5 million foreign workers coming to Iraq without restrictions or entry restrictions, which helps them to seize real job opportunities in the oil and tourism sectors, so there must be a real will to advance the reality of work in Iraq.

[screwball]

15 hours ago, GregHi said:

I have a feeling these new anti virus bills that the CBI says will come out soon will definitely be the lower denoms. If it’s the same 3 zero notes as we currently have, this ride may not be over for a long time. I think this is the CBIs way of letting the people know a change is coming with their money without telling them all the details. 

Possible 

[jscott]

39 minutes ago, screwball said:

Possible 

yes they will be the new polymer notes that most countries are now renewing,paper notes carry so many germs.