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

[DinarThug]

LINK

Saleh: Iraq has not reached the stage of inflation and prices have not risen significantly

 

 

23rd March, 2021

 

Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed, on Tuesday, that Iraq has not reached the stage of inflation, indicating that we are still within the one-decimal place

Saleh said in a press interview, that "Iraq still has not yet reached the stage of inflation, as we are still within the one-decimal place," indicating that "before the adjustment of the dollar exchange rate, inflation in Iraq was slightly higher than zero

He added, "People are sensitive to prices on the basis of a commodity, but we believe that inflation is an index measure with weights and every commodity has a relative weight," noting that "there is a commodity that may have increased 500 percent but its relative weight is little compared to vegetables or foodstuffs

Saleh pointed out, "There has become a sense of prices after adjusting the dollar exchange rate, but it is still reasonable and that inflation is still acceptable, not at the individual level, but at the level of the general price index

##########

[DinarThug]

LINK

Allawi is conducting an inspection visit to the Rafidain Bank

 

 

23rd March, 2021

 

The Ministry of Finance announced, on Tuesday, that the Minister of Finance, Ali Allawi, made an inspection visit at the Rafidain Bank

The ministry stated in a statement received by "Al-Eqtisad News", that "the Minister of Finance, Ali Allawi, and the Undersecretary of the Ministry, Taif Sami, made an inspection visit to the Rafidain Bank (the General Administration) on Monday 3/22/2021

The statement added, "This visit comes to see the bank's workflow, the quality of services provided, and the speedy completion of banking transactions for customers

Allawi directed, according to the statement, the necessity of "applying the automation system to the banking business as soon as possible, similar to the sober global banks to provide better services to the Iraqi citizen," 

calling for the "reconstruction of its branches to suit the ancient status of the bank." The statement pointed out that "I instructed to grant loans for projects, support businessmen, and reconsider lending mechanisms

During the visit, Allawi listened to the problems and obstacles facing the bank's employees to develop appropriate solutions for them, according to the statement. Allawi directed, "to overcome the obstacles that may hinder the implementation of the work with the accuracy and speed required in accordance with the applicable instructions

###########

[DinarThug]

LINK

Al-Ittihad: The differences with Baghdad are minor and will be resolved before the date for the budget vote

 

 

 

14:18 - 23/03/2021

 

MP for the Patriotic Union of Kurdistan, Hassan Ali, confirmed, on Tuesday, that the crisis between Baghdad and Erbil over the budget is uncomplicated and can be resolved within hours, indicating that the negotiations will end before next Saturday.

Ali said in a statement to "the information" that "the Kurdish government delegation has reached great understandings with Baghdad on the budget, and what remains are sudden additions that have caused disruption of the negotiations."

He added, "The agreement will be easy during the coming days, and there are no complications in the negotiations, as some indicate, but the legal texts will be the only solution between the two parties."

Ali explained, "The Kurdish delegation will return before next Saturday, which is the date for passing the budget in the House of Representatives to discuss the latest developments and put the final touches on it."

[DinarThug]

LINK

Al-Kazemi: A wide diplomatic movement in Iraq .. The visits are continuing

 

 

23rd March, 2021

The Prime Minister, Mustafa Al-Kazemi, confirmed that there is a wide diplomatic movement in Iraq.
 

Al-Kazemi said during the cabinet session, 

"There is a wide diplomatic movement in Iraq.

We have the Iraqi-Egyptian-Jordanian summit will be held in Baghdad,

and there are continuous important visits to the country."
 

He added, 

"The land of Iraq is becoming an important diplomatic center for leaders of countries in order for Iraq to play its natural pivotal role,

and to serve the interest of our country and our people,

and we are working hard to ensure that Iraq has an important role in the calming down in the region."

[DinarThug]

LINK

The Ministry of Interior reveals the specifications of a new passport that befits the reputation of Iraq

23rd March, 2021

Minister of Interior Othman Al-Ghanimi confirmed, on Tuesday, that the electronic visa project is nearing completion, while he revealed an advanced passport that suits the reputation of Iraq.

Al-Ghanmi said in a statement, that "after Prime Minister Mustafa Al-Kazemi's directive to use advanced technologies in passport and visa work, we signed an international memorandum of understanding with the Ministry of Communications and were able to determine the type of the new passport."

He added,

"This passport is developed and contains a special" sim card "that carries information,

stressing that" this passport is not subject to fraud,

is recognized internationally,

and befits the reputation of Iraq. "

He pointed out that "this passport will encourage investment in Iraq and facilitate and simplify procedures for companies and citizens who intend to invest in Iraq."

[DinarThug]

LINK

Al-Ghanimi unveils the features of a "non-forgeable" passport

 

 

 

03/23/2021 16:35:47

The Minister of Interior revealed, on Tuesday, that 

the issuance of an internationally recognized "non-falsified" passport is nearing completion.

 

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

"We have begun to finalize the issuance of an electronic visa."

 

"We also signed a memorandum of understanding with the Ministry of Communications, and we have gone a long way in determining the type of passport," he added.

Al-Ghanimi pointed out that 

"the passport will be free of forgery and will be universally recognized."

[DinarThug]

LINK

From four ideas ... a broad American economic vision for Iraq that includes the Kurdistan Region

 

23rd March, 2021

The American Chamber of Commerce presented four recommendations to the administration of President Joe Biden, specifying how to deal economically with the Iraqi government in the next stage, to strengthen the private sector, diversify the economy, cooperate with the Kurdistan Regional Government, achieve comprehensive economic development for the Iraqi people and establish a more stable, sovereign, secure, and more independent country In the energy sector.

A report  by the American Chamber of Commerce translated by Shafaq News indicated that the American-Iraqi Business Council looks forward to working with the Biden administration, as well as the leaders of the Government of Iraq and the Kurdistan Regional Government.

He added that the recommendations come at a time when the Biden administration is looking forward to looking into the future of US-Iraqi relations, noting that the US President called Iraqi Prime Minister Mustafa al-Kazimi in February to confirm the American support for the sovereignty and independence of Iraq, and the importance of the strategic dialogue between Washington and Baghdad, which may resume in April. Next. 

And after he indicated that the Covid 19 virus caused heavy human losses and economic devastation around the world, the epidemic in Iraq exacerbated the mainly difficult budget crisis and economic and social challenges, adding that the effects of the epidemic strengthened the need for the United States and Iraq to partner in order to support Iraq's economic reforms, to be the focus This strategy.

The American-Iraqi Business Council has a long history of working with the American government, the private sector, and Iraqi actors. That is why the council is now proposing to the US administration "the four big ideas" to strengthen and develop the strategic partnership between the two countries.

 

First: A healthy American-Iraqi dialogue with the participation of the private sector

It is imperative that the two governments engage and focus more on health, especially the American Business Council-Iraq and members of the life sciences sector, to help fulfill the commitments set out in the Memorandum of Understanding that was drawn up in 2020 between US Ambassador Matthew Toller and Director General of the Ministry of Health, Dr. Riyadh Al-Halfi. As the memorandum specifies, a joint committee representing the two governments must hold a meeting every six months to follow up on the progress made.

The American-Iraqi Business Council recommends the establishment of an American-Iraqi health dialogue, under the umbrella of the US-Iraqi Strategic Dialogue, to create a body that can deal with important issues in the post-pandemic phase. In order to achieve sustainable recovery, create jobs, and enhance access to workforce development, the US-Iraqi health dialogue must work to enhance education, trade and health cooperation between the two governments, health institutions, and private sector entities from both countries. 

The healthy dialogue can be an ideal platform for the application of frequent side discussions between the two governments and the private sector, which the Business Council can organize before the government meeting between the two countries. The health dialogue should involve the private sector as part of the dialogue and any working groups and sub-committees that are formed to deal with specific sectors or issues.

In order to achieve tangible and sustainable progress through health dialogue, a high-level working group must be formed that includes representatives from the two governments, industries, the health community and professional associations, whose task is to set priorities in the health sector. The working group should also make recommendations to the two governments to address health priorities. 

The American-Iraqi Business Council has identified the health care sector as a key opportunity for new and in-depth cooperation between US companies and partners in Iraq to help develop the health care system and citizens' ability to access drugs, technologies, and services.

 

Second: Developing the infrastructures for gas and burning gas

According to the World Bank, the burning gas in Iraq costs the government about $ 2.5 billion in lost income, and it may be sufficient to meet the majority of the country's needs for energy plants. In addition, the development of Iraqi gas resources can help the downstream projects and many offshore industries flourish, which could help create new jobs and achieve sustainable economic growth. Burning gas deprives Iraq of the economic and electrical benefits it needs, and it also poses environmental and health challenges to local communities.

It is imperative for the Biden administration to call for a special meeting of the newly formed US-Iraqi Joint Economic Coordination Committee, to set priorities for assisting Iraq with the aim of ending the burning gas and making it energy independent and developing a work plan and timetable. The private sector must be part of the solution. 

The American-Iraqi Business Council will hold a meeting with the participation of decision makers and businessmen to discuss investment and reform opportunities. The council will also form a task force that will work in cooperation with partners in the US and Iraqi governments to advance this important work.

It is also imperative for the Biden administration to encourage officials in the government of Iraq and the Kurdistan Regional Government to work together to develop natural gas resources, and this includes a comprehensive approach between the Iraqi government and the regional government to develop and integrate the infrastructure. This will not allow it to serve as a main area of cooperation between the government of Iraq and the regional government, but also helps to develop confidence in the supply of electricity throughout Iraq. For example, the US administration could endorse the Energy Department’s report on "Developing the Natural Gas Sector in the Kurdistan Region of Iraq," which prefers how Iraq can harness its own natural gas resources and the required strategic infrastructure.

The US administration, aware of the economic impact and the partnership with Iraq, must resume financing the important strategic gas infrastructure and its development through US financial cooperation and international development, which includes projects in Iraq and the Kurdistan Region. This is important if Iraq should look to the United States and not to our competitors in terms of strategic energy investments and in order to achieve targets for reducing gas emissions.

 

Third: Supporting reforms in the Iraqi financial sector

The development of a modern financial services sector is vital in order to enhance American investment and the role of the private sector in Iraq and encourage reform of the banking sector, all of which will have a positive impact across the economy in all its aspects. 

The private banking sector in Iraq must be strengthened in order to play a tangible role in financing private sector projects that generate employment and economic development, with joint financing from the United States and other international partners.

While state banks are important to the development of Iraq, private banks must also play a role, especially for small and individual businesses. Private banks can be allowed to compete for government contracts and receive government deposits. As the International Monetary Fund has indicated in 2020, a critical strategy for reforming the large state-owned banks will enable the development of the private sector and secure financial stability.

If banking reform is implemented well, by allowing greater transparency and scrutiny in financial transactions, this will help close the window of fraud and corruption. In addition, the Business Council supports the acceleration of the development of electronic and cellular banking services, in order to increase the universality of banking services.

The Business Council recommends the US Treasury, the Iraqi Ministry of Finance, and the Central Bank of Iraq, and under the umbrella of the US-Iraqi Strategic Dialogue, to launch a working group for banking reform.

During the April Spring Meetings between the World Bank and the International Monetary Fund, the Business Council will play the role of partnering with the Treasury to host a hypothetical meeting with the Vice President of the Iraqi government, the Minister of Finance, major American banks and financial companies, to discuss how to strengthen the banking system reforms outlined in the "White Paper." 

 

Fourth: Encouraging the establishment of special economic zones to encourage investment and stimulate job creation

In order to keep the American economy and American workers competitors in the global economy, we must think creatively about how to enhance US trade and investment relationships in emerging markets such as Iraq. 

To this day, there is no joint investment treaty between the United States and Iraq that can facilitate US companies to do business in Iraq. While Prime Minister Mustafa Al-Kazemi has encouraged economic reform that should yield results in the long term, it is important to try to achieve progress in the short and medium term in order for US companies to engage with opportunities for economic development in Iraq.

The establishment of special economic zones in Iraq would create more opportunities for American investment and help increase and diversify the participation of the American private sector in Iraq. 

Special Economic Zones operate and are managed under a legal framework that goes beyond previously approved regulations and bureaucratic constraints in order to create an environment conducive to early success stories. 

In the case of Iraq, these early success stories may create the basis for new policy tools that could evolve into part of the economic reform and investment strategy in Iraq, similar to the establishment of special economic zones in the United Arab Emirates.

While many countries in the region are moving towards a model that allows 100% foreign ownership of most industrial sectors, we encourage Iraq to adopt this principle and establish similar provisions for full foreign ownership.  Areas such as Basra and Kirkuk constitute eligible nominations for implementing the special economic zones model in Iraq in order to accelerate economic development and encourage deeper reforms through the realization that early success stories lie in partnership with the American private sector.

The Business Council recommends that the United States encourage the application of the special zones model in Iraq during the Spring Meetings between the World Bank and the International Monetary Fund and during the forthcoming US-Iraqi strategic dialogue, and urge Iraq to establish these areas as an arena to enhance US investments in Iraq.  

In addition, the Business Council recommends that the United States commit to providing technical expertise and potential financing. 

Finally, the Business Council recommends that the US government designate a leading body, such as the US Department of Commerce, to work with the US-Iraq Business Council, and the private sector, to promote the strategic opportunities available to US companies once the special zones are established.

[DinarThug]

LINK

Kurdistan delegation in Baghdad soon to resume dialogues on the budget

 

 

11:05 - 23/03/2021

 

Spokesman for the Vice President of the Kurdistan Regional Government, Samir Hawrami, announced, on Tuesday, that the delegation of the Kurdistan region will return soon to Baghdad to resume the dialogues regarding the region’s share in the budget, referring to the agreement on a new formulation with Baghdad that was included in the draft budget.

Hawrami said in an interview followed by / the information /, that "the new formulation agreed upon within the draft budget included two proposals, and that the region is ready to implement one of the two proposals that were agreed upon."

He added, "The region's delegation will return to Baghdad within the next few days, to resume the dialogues and implement what has been agreed upon, whether it is agreed with the federal government and included in the budget law or the agreement that was made with some political blocs regarding the share of the Kurdistan region in the budget."

Hawrami pointed out that "the regional government announced its agreement to implement what was agreed upon with regard to the region's share in the budget." 

[DinarThug]

LINK

The Kurdish delegation returns to Baghdad at this time

 

 

 

13:28 - 23/03/2021

 

Member of the Parliament of the Kurdistan Region, Othman Karim, revealed, on Tuesday, that the delegation of the Kurdistan Regional Government will return to Baghdad one day before the vote on the budget.

Karim said in a statement to "the information", that "in the event that an understanding has been reached between the political blocs on Saturday as a date for voting on the budget, the delegation will visit Baghdad last Friday."

He added, "This visit will be crucial to stabilizing the region's share, and there are good signs of reaching an agreement, especially since the region is fully committed to delivering 250,000 barrels of oil and half of the proceeds from the border crossings, and we hope that no new conditions are presented to the delegation that would delay reaching an agreement."

[DinarThug]

Turn Up The Heat - And Get ‘Er Done !  

 

     
 

LINK

Parliamentary warning of "street anger" if the budget is not passed next Saturday

 

 

 

12:59 - 23/03/2021

 

The MP for the Al-Fateh Alliance, Mithaq Al-Hamdi, warned on Tuesday of “the anger of the street” in the event that the vote on the budget was postponed in the session next Saturday, calling on the political forces to speed up reaching an agreement satisfactory to all, and on the contrary, they should go to the majority vote.

Al-Hamdi said in a statement to / the information /, that “delaying and delaying the vote on the current year’s budget has made the citizen more tired of the political forces,” warning the political forces that “in the event that the vote on the budget is postponed to another date, the street will come out forcefully. To hold them accountable for the delay.”

She added that "the passage of a third of the year without a vote is a defective matter and there is no such thing in any country in the world," calling on "the political forces to speed up to reach an agreement satisfactory to all, and on the contrary, they must go to vote by the majority."

And the head of Bayariq Al-Khair Parliamentary Bloc, MP Muhammad Al-Khalidi, revealed in a statement to Al-Maalouma, today, Tuesday, that there are 5 difficult files in the budget, which are likely to be passed by the parliamentary majority. 

[DinarThug]

6 minutes ago, DinarThug said:

And Get ‘Er Done !  

 

 

 

     

[GreedyDinar07]

It is a damn shame the Iraqi people have to take to the streets but this is the only way things can get done. I hope there are no casualties because they will postpone it again. This is how they got the last Prime Minister out of office. 

[rvmydinar]

1 hour ago, DinarThug said:

Parliamentary warning of "street anger" if the budget is not passed next Saturday

This is a good news. But, We"ll see if they really pass the budget on the 27. By the way, do you think they are scared and care about the street protest?

[horsesoldier]

“ Street Anger “ really ? Go ahead, screw this up and you’ll see some “ Street Anger “ - pretty sanitized statement concerning how citizens will react to being bent over and lied to for so many years and now yet another year.

[GreedyDinar07]

Yeap, I said this was going to happen a month ago and then Iran will exploit the situation with a bomb or two and we are back at square one. Looks like 2019 all over again. At least they move the exchange rate though. I think Al-khedemi is sincere and maybe he has recognized that the problem is with the GOI not the people of Iraq. Let the games begin!! 

[DinarThug]

LINK

Devaluation is just one small step of the citizen's destruction scheme

 

 

 

15:56 - 22/03/2021 Books / Majid Al-Khafaji

 

 

There is a common, ironic Iraqi proverb which is (Shajab Al-Falaq Al-Dulma)? To criticize everyone who links two issues that have nothing to do with them, but I find this example very realistic in Iraq Al-Jadeed: Yesterday I read a headline about the intelligence system foiling an “attempt” to smuggle imported tomatoes, so they destroyed it! I don’t know any intelligence this! Is it for the interior, defense or intelligence! 

Or, the so-and-so device has arrested drunken people, the curfew violators, or beggars! Or, destroying drugs or meat "outside the controls", and these are daily axioms from the core of these devices' work, but all of them are to fill the media void due to the scarce achievements if they are called achievements.

It exceeds the fingers of the hands and feet together, but it is unable to free a kidnapped person, or to catch the killers who practice their daily work of slaughtering, kidnapping and absconding, or to shade our eyes while we see the old corrupt (or their young) being taken to the courts, and if they have prevented the import of tomato crop, why did it appear Farmers have been crying for blood over imported tomatoes for days ?! 

Sometimes a decision appears from here or there, and we may feel that it is in favor of the citizen, even from very far away, and they fill the world with media clamor as an achievement, but the opposite is passed in secret, as if his legislator has caused a thunderous wind, so he is forced to change his decision as a price for the silence of the listeners!

 

When the disastrous decision was issued to raise the value of the dollar against the dinar, which does not exceed 6%, they turned the lives of the poor into hell, and the voices of the hungry rose without a listening ear, but the matter did not stop at this point, as many commodities rose to 200%! 

For example, the price of a bottle of cooking oil did not exceed 1250 dinars, now it is 2500 dinars, and the product is local! 

 

Perhaps they want to teach us a lesson to justify that the importer is cheaper than the local! Do they know that the cheap goods that are among the poor's purchases, which do not exceed 250 dinars, have a price of 500 dinars because 

we do not have a 50 or 100 dinar banknote! 

 

Everything is permissible from this choir, which returns us to be the enemy of its people! .

Since the issuance of this black decision, some (very faint) voices have appeared against this decision, as a kind of distribution of roles, but it seems that everyone is completely satisfied with this procedure, and how not when their safes are full of hard currency! 

As the sick statement of the Minister of Finance, that the Iraqi used to convert his “savings” into hard currency, he might think that the construction worker receives his diary in dollars as well ! 

Yesterday, one of them, who is from (Walker), stated that reducing the value of the dollar is the responsibility of the Central Bank and the Ministry of Finance and not the business of Parliament. As if the previous relative stability in the value of the dinar is a favor from them! And there are conspiracies inside the halls of parliament to raise the value of taxes on some goods, including cigarettes, by 200% (I will be the first to be affected)! And alcohol is worth 300%, and they did not mention the value of taxes on drugs, for example! It must not be covered, it has its merchants and men at the highest levels! 

All of this is in the balance, and the relationship of the "central" government with the Kurdistan Regional Government is a thousand scales. Indeed, we do not know the reason for the humiliating submissiveness, and the submission like the blind, but like animals for the conditions of the region, despite all the confusion about the demands to spend the oil of the "region", and the dues of the border crossings, despite the review visit of Mr. Al-Kazemi For this outlet, which turned out to be all that matters to him is the media only, but no penny has entered the state treasury, and the center’s treasury is still bleeding money that is not alleged to be due to the salaries of Kurdistan’s employees, without these poor people receiving a penny! 
 

And the federal forces do not have the right to enter the region, but the salaries of (the beach woman) are the center's competence! And God knows what is the fate of the “disputed areas”, this phrase that makes me nauseous to the point of vomiting.
This file is not in fair hands, and it does not have a patriotic mind if it has one, and I do not exclude, but it is not strange that these areas expand like cancer and swallow half of Baghdad as long as These remained holding our screws! 

What is the secret of this power? Really, only those who are firm in conspiracies know about it! 

Indeed, the blame does not fall on our colleague (Ayyad Al-Samawi) when he got angry and went out of phase on one of the satellite channels, for we are in front of a political class that spares no effort in destroying us and starving us, but in pursuing us, to the point where we forgot our basic demands such as water, electricity, and to live with dignity like the rest of humanity.

[DinarThug]

LINK

What is the relationship of passing the budget to the next government? ... A Kurdish MP clarifies!

 

23rd March, 2021

A member of the Kurdish Future Bloc, Sarkut Shamsuddin, revealed, on Tuesday, that there is a political deal to pass the 2021 budget, in exchange for a vote on the next government formation.

Shams al-Din said, in a statement that Mawazine News received a copy of, that 

"the political deals that were concluded between the influential political forces in Baghdad and the region,

were to pass this year's budget,

in exchange for passing the next government formation."

 

He pointed out that 

"this matter is the most prominent reason for the delay in resolving the budget until now,

which caused the failure of the corrupt schemes to control the fate of the people and their neglect in these deals over the past 17 years." 

[DinarThug]

3 hours ago, DinarThug said:

Al-Ittihad: The differences with Baghdad are minor and will be resolved before the date for the budget vote

 

 

14:18 - 23/03/2021

 

MP for the Patriotic Union of Kurdistan, Hassan Ali, confirmed, on Tuesday, that the crisis between Baghdad and Erbil over the budget is uncomplicated and can be resolved within hours, indicating that the negotiations will end before next Saturday.

Ali said in a statement to "the information" that "the Kurdish government delegation has reached great understandings with Baghdad on the budget, and what remains are sudden additions that have caused disruption of the negotiations."

He added, "The agreement will be easy during the coming days, and there are no complications in the negotiations, as some indicate, but the legal texts will be the only solution between the two parties."

Ali explained, "The Kurdish delegation will return before next Saturday, which is the date for passing the budget in the House of Representatives to discuss the latest developments and put the final touches on it."

 

LINK

Member in Parliamentary Finance: An agreement to pass the region’s share in the budget and approve it at the Saturday session

 

 

 

03/23/2021 14:36:25

 

 

A member of the Parliamentary Finance Committee, Sherwan Mirza,

 

is likely to pass the federal budget law next Saturday.

 

 

Mirza told {Al-Furat News} that "this delay is illegal," noting that "an agreement was made between the Kurdish delegation and the Shiite forces and the Sunni forces to pass Article 11 of the Budget Law concerning the share of the Kurdistan region according to the agreement."  

 

Mirza added that "passing the paragraph unilaterally without negotiations and without consulting with the Kurdish delegation is unacceptable." 

The member of Parliament added: "If the Shiite forces have negotiations, they must be within the Finance Committee."

The House of Representatives had failed, last Saturday, to vote on the draft federal budget law for 2021, following the continuing disagreements over some items.  Last Friday, Parliament failed to hold a session to vote on the budget, which is estimated at 130 trillion dinars (about $ 89.6 billion). 
 

The Kurdistan region’s share is considered a budget node, with the continuing talks between Baghdad and Erbil to resolve differences over it. 

[GreedyDinar07]

Aint gonna happen but at least they are trying...Get ready to take to the streets Iraqi people and make them do it!! 

[6ly410]

Kurdish delegation will return to Baghdad soon for budget talks, says KRG spokesperson

2 hours ago

Sura Alihttps://www.rudaw.net/english/kurdistan/230320212-amp?__twitter_impression=true

ERBIL, Kurdistan Region — The Kurdistan Regional Government (KRG) delegation will return to Baghdad soon to resume dialogue regarding the Kurdistan Region's share in the 2021 budget,  Samir Hawrami, spokesperson for the Deputy Prime Minister of the Kurdistan Region, told state media on Tuesday.

Erbil relies heavily on Baghdad for its funds, but the question of oil-for-budget has been a thorny issue between both sides.  A KRG delegation led by Deputy PM Qubad Talabani has visited Baghdad several times to try and resolve the issue. 

The Iraqi parliament on Saturday postponed a vote on the 2021 budget after failing to reach an agreement between blocs over the Kurdistan Region's share. 
 
Shiite parties added amendments to Article 11 of the bill, which dictates the Kurdistan Region's share of federal funds.
 
The new amendment would require the Kurdistan Regional Government (KRG) to hand over the value of 250,000 barrels of oil a day to Baghdad, in addition to all non-oil revenues, such as custom fees and taxes.
 
"We consider this amendment as a violation of the agreement between the two sides, and a slight retreat by the Shiite blocs," The deputy head of the Kurdistan Democratic Party (KDP) bloc, Bashar al-Kiki told state media on Tuesday.
 
Kiki confirmed that the Parliamentary Finance Committee adheres to the text of Article 11 voted upon, and it will be presented without amendments.
 
Member of the Parliamentary Finance Committee, Muhammad Ibrahim, told said that it is unlikely the budget will be passed in one session. 
 
Iraqi lawmakers have criticized the Kurdistan Region's independent oil sales, with many wanting Erbil to hand over all of its oil to the State Organization for Marketing Oil (SOMO) in exchange for federal funds.
 
Both governments have also seen revenues drop due to low oil prices last year. The KRG is unable to pay its civil servants on time and in full, while the Iraqi government took out loans from the Central Bank to pay salaries for the last three months of 2020. Baghdad also devalued the dinar in December

[Spartakus]

I'll believe it when I see it.

[6ly410]

 

Reducing the value of the dollar against the dinar after the rise in oil prices ... A deputy determines the possible powers

Posted 5 hours ago

https://iraqakhbar.com/2986481

News source / Baghdad today

News source / Baghdad today

Baghdad today - Baghdad 

A member of the Economic Committee in the House of Representatives, Ali Al-Lami, confirmed today, Tuesday, the impossibility of Parliament adjusting the exchange rate of the dollar, no matter how high the price of oil sale.

Ali Al-Lami said, in an interview with (Baghdad Today), that “the selling prices of oil on the global stock exchange are unstable, because the world is going through difficult conditions due to the Corona pandemic and its repercussions on the economy in most countries,” pointing out that “oil prices, in the event that they remain high for months Coming with the same current figures, the government will prepare a supplementary budget and distribute the funds according to the benefits, meaning that the increase in revenues will be distributed according to the mechanisms followed to cover the financial deficit.

Al-Lami added, “The important thing that the public opinion must realize is that determining the exchange rate of the dollar is one of the exclusive powers of the Central Bank of Iraq, which is considered responsible according to the law for the monetary policy in the country, and the House of Representatives cannot interfere, either from near or far, in the exclusive powers. To the bank ”.

A member of the Economic Committee in the House of Representatives pointed out that "the exchange rate of the dollar cannot be modified by Parliament, no matter how high the price of oil, because the matter depends on the decisions of the Central Bank."

Yesterday, Sunday (March 21, 2021), the Governor of the Central Bank, Mustafa Ghaleb Makhaif, made a new statement regarding the effects of changing the exchange rate of the dollar against the Iraqi dinar, pointing to several positives that this step has achieved to support the economy.

The media office of the Central Bank stated, in a statement received (Baghdad today), that “The Governor of the Central Bank of Iraq, Mustafa Mechif, participated in a symposium (The Impact of Covid 19 on Financial Institutions), organized by the Iraqi Private Banks Association, along with the Governor of the Central Bank of Jordan, Ziyad Fariz. And the head of the Bahrain Association of Banks, Adnan Yousef, and the head of the Iraqi Private Banks Association, Wadih Al-Handal, which was attended by a number of Iraqi and Arab specialists and experts.

The governor emphasized that "the Central Bank of Iraq has taken a series of measures to confront the effects of the Corona virus on the economy," noting that "the pandemic has led to an increase in bad debts by 18% during the year 2020, which requires taking measures that simulate the data of the Iraqi reality, especially security and legal."

He explained that "changing the exchange rate of the dinar against the dollar contributed to enhancing financial sustainability as a result of the high volume of foreign reserves, and strengthening public finances, which increases the reliability of investors, lower production costs, increased competitiveness of local goods, and a balance of payments balance through a decrease in the volume of foreign imports."

The governor stressed that "the biggest challenge is to reinvest the revenues generated from the process of lowering the exchange rate, which should contribute to building a production base outside the oil sector to act as a financial lever for the Iraqi economy and rid it of the problem of a single financial resource

[6ly410]

 

A deputy talks about new details in the budget regarding the region, the dollar and the price hike

Posted 6 hours ago

https://iraqakhbar.com/2986438

News source / NR TV

News source / NR TV

 

MP Pricean Al-Aajibi said, on Tuesday, that there are minor points of contention between the blocs with the Kurdistan Region, and that negotiations are continuing to solve them. On the other hand, he revealed a parliamentary tendency to reduce the exchange rate of the dollar and address high food prices, calling on the government to put an end to the chaos.

Al-Aajibi told NRT today (March 23, 2021), that “the basics have been agreed with the Kurdistan Region, but some simple arrangements still have differences with the rest of the blocs, but negotiations are continuing, and a delegation from the region will go to Baghdad to discuss minor points of contention.”

He added, "Regarding the exchange rate of the dollar, it is from the authority of the government and the central bank, but there is great pressure from the House of Representatives on the government to reduce the exchange rate of the dollar, and in the event of failure to respond, the deputies will abstain from voting on the budget."

And on the rise in food prices, he explained that this “came after the change in the exchange rate of the dollar in the markets, the goods always come from outside Iraq in dollars, and this is an expected aspect in the rise in food prices that affect the life of the Iraqi citizen, and God willing, all the orientations of the members of Parliament. It is to reduce the dollar exchange rate. ”

He pointed out that "the government has been asked to take out price control detachments, to ensure their stability, especially as we are on the verge of the blessed month of Ramadan, so surely there will be a rise in prices, and the government must take serious steps to put an end to this chaos, and chaos is present in all life, but food is a red line." It touches the life of the poor citizen

[6ly410]

Devaluating the dinar was predetermined, MP says

https://shafaq.com/en/Iraq-News/Devaluating-the-dinar-was-predetermined-MP-says

 

2021-03-23 04:39

 

Shafaq News/ The Parliamentary Economic Committee said that raising the exchange rate of the 100 US dollar to 145,000 Iraqi dinars was a "prior agreement" between the political blocs, indicating that the Parliament does not have the powers to make this decision.

 

 

Committee member Ali al-lami said in a statement to Shafaq News Agency, "A previous agreement was concluded to raise the price of the dollar's exchange rate to 145,000 per 100," indicating, "this applies for the 2021 budget."

 

 

"Raising the exchange rate from 119,000 to 145,000 [per 100 dollars] inflicted the lower classes with limited resources."

 

 

Iraq's central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

 

 

The central bank of Iraq said the key reason behind the dinar's devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices.

[6ly410]

https://al-iraqinews.com/archives/74246

Conscious / Economic Parliament: The exchange rate of the dollar will remain in the budget based on a political agreement

March 23, 2021 244 Views

Conscious / Baghdad

On Tuesday, the Parliamentary Economic Committee revealed a prior agreement for the political blocs to raise the exchange rate of $ 100 to 145,000 dinars, confirming that Parliament does not have the power to change it.

A member of the committee, Ali Al-Lami, said in a statement followed by ( Iraqi Media News Agency / INA) that "there is no political or parliamentary agreement to change the exchange rate of the dollar and reduce the foreign currency against the Iraqi dinar, as is found in the budget law."

He added that "there is an agreement in advance between the political blocs to raise the price of the dollar to 145 thousand per 100 dollars, and this will continue with the budget law for the year 2021."

And Al-Lami, that "a sudden increase in the exchange rate from 119 to 145 thousand dinars per 100 dollars, the impact of the poor class and those with a limited salary and income