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

[6ly410]

A spokesman: The government monitors prices and their rise is confusing the economic situation

2021-03-23 | 11:34

 

 

https://www.alsumaria.tv/news/اقتصاد/376606/متحدث-الحكومة-تراقب-الأسعار-وارتفاعها-يربك-الوضع-ا

 

Cabinet spokesman Hassan Nazim confirmed, on Tuesday, that the government is monitoring prices in the markets, considering that their high levels confuse the economic situation.

 

Nazem said during a press conference, "Prime Minister Mustafa Al-Kazemi discussed the rise in commodity prices in the markets," noting that "the government monitors prices in the markets and their rise confuses the economic situation."

He added, "The Council of Ministers submitted a recommendation to the Ministries of Interior and Labor to address the phenomenon of begging in the streets."

 

 

On another issue, Nazem said that "an Iraqi, Egyptian-Jordanian summit will be held in Baghdad," stressing that "the tripartite summit in Baghdad is important to resume work that took place at the Amman summit

[6ly410]

 

2021/03/23 09:33

The negotiating delegation of Kurdistan resumes its dialogues on the budget on an upcoming visit to Baghdad

http://almasalah.com/ar/news/207174/وفد-كردستان-المفاوض-يستأنف-حواراته-بشأن-الموازنة-في-زيارة-مرتقبة-إلى-بغداد

 

Baghdad / Obelisk: The Kurdistan Regional Government announced, on Tuesday, March 23, 2021, that the negotiating delegation will return to Baghdad soon to resume the dialogues regarding the region's share in the federal budget, while indicating that there is an agreement on a new formulation with Baghdad that was included in the draft budget.  

Kurdistan government spokesman Samir Hawrami said in a statement followed by Al-Masalla, that the new formulation agreed upon in 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 that the region’s delegation will return to Baghdad during the next few days, to resume the dialogues and implement what has been agreed upon, whether the agreement with the federal government and its inclusion in the budget law or the agreement that was concluded with some political blocs regarding the share of the Kurdistan region in the budget, indicating that the regional government It announced its agreement to implement what had been agreed upon with regard to the region's share in the budget.  

A member of the Parliamentary Finance Committee, Muhammad Ibrahim, stated that the budget contains many articles, and it is unlikely to pass it in one session, especially with some disagreements regarding its texts, adding that the focus of the budget dispute is related to Article 11 related to oil exports and an agreement with the region regarding the revenues to be delivered.  

And he indicated that there are swing political positions regarding the vote on the budget, and that there is political pressure in Parliament to go ahead and resolve differences with the region to vote on the budget.  

Parliament failed last week to vote on the draft federal budget law for 2021, due to continuing disagreements over some items, and voting on them was postponed until next Saturday.  

 Baghdad and Erbil reached at the end of last year 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 about 12.6 percent

[nannab]

Thank you 6ly410 for all of the articles.  

[6ly410]

Deputy for Al-Fateh: We will not vote on the budget unless the dollar price is reduced

https://alahadnews.net/176964/العراق/السياسية/

 

Author: AhadNA4 On 3/23/2021 - 6:17 PM 146

The deputy from the Al-Fateh Alliance, Mukhtar Al-Mousawi, ruled out, on Tuesday, passing the budget at a session on Saturday in light of differences over Article 11 and reducing the dollar exchange rate, stressing that it will not see the light.

Al-Mousawi said in a press statement followed by Al-Ahed News: "Differences still exist regarding Article 11 of the region's budget, as well as the presence of more than 100 deputies who refuse to vote on the budget unless the dollar exchange rate is lowered to its previous price."

He added, "In the face of the Kurds' intransigence about their share, the obstinacy of the government and its refusal to return the price of the dollar, it is unlikely that the budget will be passed in a session on Saturday and will not see the light."

"There are upcoming meetings next Friday to discuss the region’s share with the Kurds and reduce the exchange rate of the dollar with the government, and in the event that solutions are not found at a last opportunity, the budget will not see the light," Moussawi said

[6ly410]

Iraq has not reached inflation yet .. An expert identifies another mechanism for inflation that is not limited to high prices only

https://yesiraq.com/العراق-لم-يصل-للتضخم-بعد-خبير-يحدد-آلي/

2021-03-23

Yes Iraq: Baghdad

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 change 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."

 

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

[6ly410]

A parliamentarian talks about 20 million Iraqis affected by the price of the new dollar

2021-03-23

https://yesiraq.com/برلماني-يتحدث-عن-تضرر-20-مليون-عراقي-من-س/

Yes Iraq: Baghdad

A member of the Parliamentary Legal Committee, Hussein Al-Aqabi, revealed, on Tuesday, a shocking parliamentary statistic regarding the number of people affected by the change of the dollar exchange rate, stressing that their numbers reached 20 million Iraqis.

 

Al-Aqabi said in statements that "bringing the dollar price back to the fore is very important, since this issue has been absent in the recent period," noting that "the government does not know anything but deduction, loans and the price of the dollar."

 

He added, "More than 20 million Iraqis have been affected by the price of the dollar," noting that "the state's methodology targets the livelihood of the Iraqi citizen."

 

Al-Uqabi pointed out that "the prices of consumer goods have risen to more than 30 percent," explaining that "poverty rates in the south have reached 50 percent."

 

On the other hand, Al-Puni stated that "the exemptions for Jordan reduced customs revenues by 45 percent," noting that "what is declared customs revenues is a clear misleading

[DinarThug]

2 hours ago, nannab said:

Thank you 6ly410 for all of the articles.  

Wtf - How The Hell Do U Even Tell Those Two Bro’s Apart ?  

 

 

     

[DinarThug]

13 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."

 

Parliament ... two options, the darkest of which are bitter

 

Wednesday 24 March 2021

 

 

Baghdad: Abdulrahman Ibrahim 

 

The House of Representatives awaits a decisive session, next Saturday, to vote on the federal budget bill for 2021 after it was postponed for a full week to discuss all the items, amid fears of mounting popular anger if not passed, due to differences that might push the political blocs to resort to the majority.

It is hoped that the Kurdistan Regional Government delegation will return to Baghdad to discuss the fundamental disagreement one day before the budget vote, and in the event of an understanding, according to what was stated by Member of the Parliament of the Kurdistan Region, Othman Karim, “This visit will be crucial to fixing the region’s share and there are good signs for reaching an agreement, especially The region is fully committed to delivering 250 thousand barrels of oil, and half of the proceeds from the border crossings.

Most of the House of Representatives seeks to pass the budget without resorting to the choice of the majority in voting, and the Kurds boycott the session, as happened in the past.

The representative of the Al-Fateh Alliance, Mithaq Al-Hamidi, warned of "the anger of the street" in the event that the vote is postponed, calling on the political forces to speed up reaching an agreement that is satisfactory to all, and by contrast, they must go to the majority vote.

Al-Hamidi said: “The delay and the delay increased the citizen’s anger against the political forces,” describing the passage of a third of the year without voting as “shameful” and there is no such thing in any country in the world.

In the opinion of MP for the Patriotic Union of Kurdistan, Hassan Ali, that the crisis between Baghdad and Erbil over the budget is not complicated and can be resolved in hours, indicating that the negotiations will end before next Saturday.

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

The differences are summed up in three issues: The first is the desire of the Kurds to deliver oil annually rather than monthly, and the second is the financial allocations for “political prisoners covered by transitional justice laws,” and the third is the exchange rate of the dollar and returning it to 1190 dinars.

link 

[DinarThug]

13 hours ago, DinarThug said:

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 system" rel="">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 system" rel="">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.

 

4 topics written by Washington’s advisors for the upcoming deal with Baghdad

Wednesday 24 March 2021

 

Preparation: morning

 

The Iraqi issue did not take from Joe Biden's presidential campaign what the experts had expected. And Trump's rival campaign was limited to enumerating the mistakes without there being a comprehensive dialogue to assess the American performance in the military arena in which Washington has directly intervened since the year 2003.

Today, the features of Biden's approach to everything related to Baghdad began to become clear, especially on the economic side. The report, written by the American Iraqi Business Council in cooperation with the American Economic Council (a quasi-governmental institution concerned with strengthening US economic relations with the countries of the world), identifies four basic axes in which the Biden administration could cooperate with the Iraqi government in order to lay long-term and influential foundations in these Relationship.

The first point the report makes is; Establishing an Iraqi-American dialogue in the field of medical cooperation and health care within the private sector. 

 

Regarding this field, the report says that if we take into account that the Corona pandemic has redrawn the features of medical cooperation, health care and partnership in this field around the world, then it is the first for this field to be an important opening for cooperation and partnership between Baghdad and Washington. 

 

Returning to focusing on the memorandum of understanding signed between the US ambassador in Baghdad, Matthew Toller, and the Iraqi side concerned with health care and the public health sector, it is important that health cooperation between Iraq and the United States be included in the ongoing strategic dialogue between the two countries.

Here, the Iraqi-American dialogue should take center stage on the health side, issues such as scientific exchange and cooperation between the two governments, or between private health institutions in Iraq with their American counterparts. 

 

The report recommends that the Biden administration facilitate the task of creating communication and sharing platforms between the existing Iraqi pharmaceutical industries and what has already happened in the United States in the post-pandemic phase. 

The second point in the report indicates that the Biden administration should put its priorities in cooperation with Iraq in the process of collecting gas associated with oil extraction, as well as the American participation in the development of the infrastructure for the gas industry in Iraq.

According to World Bank reports on Iraq, associated gas losses are costing Iraq nearly $ 2.5 billion annually. They come in the form of potential revenues or replace foreign imports of this vital material.

On the other hand, the investment of Iraqi gas can spread prosperity in the projects that exploit and use it, as well as in the manufacturing industries related to gas. 

 

This will be fruitful and has a clear reflection on the issue of creating new jobs that provide the Iraqi market with an opportunity to absorb unemployment. 
 

The positive reflection on this cooperation will not be limited to the field of gas in its revenues, but will cast a shadow over public health and the environment that is moving towards improvement in Iraq.

Here, the Biden administration should call for a vigorous meeting of the Iraqi-American Energy Cooperation and Coordination Committee in the field of energy, known as (Energy JCC), in order to exploit gas and stop burning it and move Iraq to be independent in the field of energy and self-reliant. 

 

In addition to the actual inclusion of Iraq in the Paris Agreement on climate change by reducing the gas emissions caused by burning the associated Iraqi gas.

The third point in this regard is supporting Iraq in the process of reforming the financial sector. 
 

This will raise the possibility of financial partnership between the Iraqi and American private sectors. 

 

Experts believe that strengthening the work space of Iraqi private banks in order to take an important place in the Iraqi economy is the key to any development and grounding for joint cooperation.

The fourth point that Biden received as advice on Iraq is the process of encouraging specialized economic zones, and making them a basis for capital mobilization that will contribute to creating new jobs. 

 

The report indicates the need to support the Al-Kazemi government's steps in this area, which it preferred to start with reform steps that will have a good reflection on the long-term.

Here, we note that all the advice Biden announced towards Iraq revolves around the economic issue, meaning that the deep vision of the Iraqi problems does not stop completely from the existence of an integrated vision that allows economic reform and a prelude to raising the standard of living and enhancing the well-being in Iraq 18 years after the American invasion and four presidents who succeeded the White House .

LINK 

[DinarThug]

LINK

Parliamentary Finance: The World Bank did not object to the reduction of the dollar

 

 

 

12:18 - 24/03/2021

 

The Parliamentary Finance Committee expected, on Wednesday,

to agree to reduce the price of the dollar to 130 within the budget,

indicating that the World Bank did not express any objection to reducing the price,

unlike the Ministry of Finance, which is determined to harm the citizen.

"The market and the financial situation of Iraq bear a change in the exchange rate,

contrary to what the Ministry of Finance claims,

and it is possible to change the exchange rate in consultation with the Central Bank," 

said a member of the committee, Abdul Hadi Al-Saadawi, in a statement to "the information".

Al-Saadawi added, 

"The fair price for a dollar is 1300 dinars to one dollar, which is commensurate with the current circumstance.
There are no forms for the World Bank at a price of 130 and insistence only from the Ministry of Finance.


He explained, 

"The price change did not achieve any economic achievement.
Rather, it increased poverty rates, harmed the middle class, and raised prices by more than 25%, especially basic commodities."

[DinarThug]

LINK

They replied, if you could. The justifications for raising the price of the dollar are invalid, and this is our response

 

 

 

19:22 - 23/03/2021 Books / Muhannad Al-Attabi ...

 

 

After the many discussions about the issue of raising the price of the dollar, and after voices aroused here and there defending the increase in the price of the dollar, I put before the eyes of the public opinion and those interested in following the merits of this issue a set of denunciations that nullify the justifications for raising the price of the dollar: 

 

First:

Supporters of raising the price of the dollar claim that raising the price of the dollar contributes to encouraging and protecting the national product

* Here I say:

🔹 In the market system, there are two pillars, the producer and the consumer, and any decision or law must take into account these two pillars. Rather, the consumer is the object of service in the first place, and it is the one whose decisions and laws come to serve him. 

The rise in the price of the dollar is very clear that it has caused great harm to the consumer.

 

Secondly:

Supporters of raising the price of the dollar claimed that raising the price of the dollar would protect national product from harassment of imported products that harass it in the market

* Here I say:

Observers of the prices of national products finds that they are constantly increasing, reaching some of them more than 200%, as is the case with table fat (oil), as well as the increase in local sugar (thanksgiving) by 40%, as is the case with cheese, meat, eggs and foodstuffs in general.

 

Third:

Supporters of a dollar price increase claim that the dollar's price increase was due to lower oil prices

* Here I say:

Oil decreased for less than 60 days and returned to increase three times its price when it decreased, and the sixty days were replaced by a surplus that forces a decline of more than 200 days with the continued rise in its prices to exceed or exceed in April the price of $ 70 per barrel of oil.

 

Fourth:

Supporters of raising the price of the dollar claim that raising the price of the dollar will undermine the power of those with big money, especially the parties that are inflating financially in a crazy way so that the citizen can recover.

* Here I say, with all astonishment and astonishment:

I do not know how they allowed themselves the proponents of raising the price of the dollar this justified, since everyone knows that the dollar is one of the assets of the owners of large money and that the citizen has his financial assets are the Iraqi dinar (contiguous to the conversation, I say balances where the reality is that the simple citizen does not have a balance, but he has daily expenses that come from an incoming daily or monthly)

With the rise in the price of the dollar, the service will be clear and free of charge for the owners of big money before severe harm to the citizen who owns the dinar, and with a simple calculation, the owner of one million dollars has become a profit of 250 million dinars from the high price of the dollar. 

And the citizen who owns 10 million dinars, for example,

loses 2.5 million and a half million because of the increase in the dollar price 

This is with a decrease in the purchasing value of the citizen by 25%, which may be negatively increased in the future.

 

Fifthly:

Supporters of the dollar price increase claimed that raising the price of the dollar would contribute to raising the balance of the central bank

* Here I say:

Yes, the balance of the central bank will increase, but this increase will be in the local monetary mass, meaning the balance in the Iraqi dinar will rise.

As for the hard or foreign currency, it will not increase. 

A healthy and beneficial rise is made by increasing the balance of hard currency, such as dollars or gold, and others and 

if the central bank wanted to raise its dinar balance, it could print an Iraqi monetary block according to ratios that balance its dollar imports, thus achieving the purpose of raising the dollar’s price without going to raise its price.

 

Sixth:

Supporters of raising the price of the dollar claimed that raising the price of the dollar would contribute to strengthening the Iraqi dinar in the world

* Here I say:

Amazing and strange this justification, which if his claim is true, the ignorance of his claimants is true. In fact, the rise in the price of the dollar has destroyed the Iraqi dinar and weakened it by more than 25%.

 

Seventh:

Supporters of the dollar’s price increase claimed that they were embarrassed by the Iraqi street, as well as embarrassed by the results of this ignorant blind decision.

* Here I say:

🔹 This justification confirms the people's admission of the mistake of the decision to raise the price of the dollar

But the strange thing is that the pride by mistake prompted them to justify keeping the high price of the dollar because of their fear of a delay in the budget, and this is an explicit fallacy for several reasons that deny this claim, including that we are today in front of eight months of the fiscal year where four of them have passed

Restructuring the budget on the old price of the dollar will only delay the budget by ten days. 
A delay of ten days is better than damaging years to come. 

In fact, with one formula, the budget can be deducted in one day, whereby expenditures are reduced equally by the value of what will decrease in the dollar. 

Yes, we will be facing necessary adjustments here and there, so we said that ten days could be sufficient for these treatments.

These are brief responses to what proponents of a dollar appreciation claim. 

If there are other justifications, we are ready to discuss them scientifically and impartially. And the God of the intent behind.

[DinarThug]

LINK

Iraq and Qatar agree to reactivate the Economic Cooperation Committee

          

 

24th March, 2021

Iraq and Qatar agreed, on Wednesday, to reactivate the joint economic cooperation committee between the two countries.

"Happy with our visit to Iraq," the Qatari Foreign Minister, Muhammad bin Abdul Rahman Al Thani, said during a joint press conference with the Iraqi Foreign Minister, Fuad Hussein, in the capital, Baghdad, stressing that he had "consulted with Iraq on regional developments in the region."

Al-Thani added, 

"We are working on resuming the joint committee with Iraq as soon as possible," expressing his country's aspiration to invest in projects and support stability in Iraq. 

He continued, "We discussed how to develop relations and enhance cooperation between Baghdad and Doha," stressing, "We have fruitful meetings with the presidents of the republic and the ministers."

And he added, "We are working with Iraq and the neighboring countries to calm the situation in the region," declaring.

He stressed, 

"There is a consensus of views on the regional situation between the two countries," noting that "there is an important opportunity to support the stability of Iraq."

For his part, 

Iraqi Foreign Minister Fuad Hussein said,

"We are working to activate the Iraqi-Qatari joint committee on economic issues." 

And the Ministry of Foreign Affairs announced, this afternoon, Wednesday, the arrival of the Qatari Foreign Minister, Muhammad bin Abdul Rahman Al Thani, to the capital, Baghdad.

[DinarThug]

LINK

Qatari Foreign Minister from Baghdad: Reactivate the joint committee with Iraq as soon as possible

03/24/2021 15:00:29

 

The Qatari Minister of Foreign Affairs, Muhammad bin Abdulrahman Al Thani, explained to the reactivation of the joint committee with Iraq as soon as possible.

 
 Al Thani said in a joint press conference held with his Iraqi counterpart Fuad Hussein that 

"the joint economic cooperation committee between the two countries must be reactivated as soon as possible and the horizons for investment cooperation", 

indicating that 

"there is a very important opportunity to support the stability of Iraq by presenting projects that are keen to support this stability."
Creating job opportunities."

"We consulted with Iraq about regional developments in the region and discussed how to develop relations and enhance cooperation between Baghdad and Doha," he said.

For his part, Foreign Minister Fuad Hussein said, "We are working to activate the Iraqi-Qatari joint committee on economic issues."

[DinarThug]

LINK

Iraq directs a request to France regarding its seized funds in Paris

 

 

24th March, 2021

The Iraqi Minister of Justice, Salar Abdul Sattar Muhammad, called on Wednesday for the French authorities to lift the seizure of sums of money belonging to the Iraqi government withheld by the French government.

A statement by the Ministry of Justice, a copy of which was received by Mawazine News, stated that 

“Salar discussed during his meeting today, Wednesday, with the French ambassador to Iraq, Bruno Hubert, Consul Luke Spebrock, and their accompanying delegation, the cooperation relations between the two sides and ways to strengthen and develop them.”

The Minister of Justice emphasized, according to the statement, that 

"Iraq seeks to open new horizons of joint cooperation, especially in the possibility of signing a memorandum of understanding or cooperation in the legal field and exchanging experiences between the Iraqi and French ministries of justice in the near future."

 

The minister explained that 

"he discussed with the French side

THE RELEASE OF FUNDS THAT BELONG TO THE IRAQI GOVERNMENT 

withheld by the French government,

and that he asked the French authorities to lift the seizure of these funds and return them,

noting that there is

A DECISION ISSUED BY THE UNITED NATIONS SECURITY COUNCIL TO RELEASE THESE SUMS.”

[6ly410]

CURRENT IRAQI DINAR PEG WILL CONTINUE FOR NEXT FOUR YEARS: OFFICIAL

A file photo shows Iraqi dinars and US dollars in a bank

1 Hours Ago

https://www.nrttv.com/En/News.aspx?id=27026&MapID=2

 

SULAIMANI —Director of the Department of Financial Operations and Debt Management of Iraq’s Central Bank Mahmud Dagher said on Wednesday (March 24) that the price of US dollar against Iraqi dinar will be fixed at the current price for the next four years. 

During an appearance in NRT’s Tawtwe interview program, Dagher said that the Council of Representatives does not have the authority to make changes in the price of US dollar. 

$100 was at 144,750 Iraqi dinars as of Wednesday evening.

The devaluation of dinar, which was included in the federal government’s draft 2021 budget, was designed to preserve Iraq’s dollar reserves and allow the government to spend more Iraqi dinars. 

The move however made imports and goods originally priced in other currencies, like hydrocarbons, more expensive.

On Sunday, Governor of the Central Bank of Iraq Mustafa Ghalib said that the devaluation of the Iraqi dinar this winter enhanced the country’s financial sustainability because the move increased country’s foreign currency reserves and strengthened its public finances.

(NRT Digital Media)

[DinarThug]

LINK

An international agency that adjusts the credit rating of Iraq to stable

 

24th March, 2021

The international credit rating agency (Fitch), amended, on Wednesday, the outlook for Iraq to stable, confirming its rating at (B).

 

The agency, headquartered in New York and London, said in a report seen by Mawazine News that 

it had "adjusted the outlook for Iraq to stable from negative, but political economy dynamics still hinder policymaking." 

It indicated that "although the devaluation of the Iraqi dinar by 18.5% and the government's approval of the white paper on financial and economic reforms, 

some possibilities indicate that measures will be taken to put the financial affairs of Iraq on a more sustainable basis."

 

The agency added that "Iraq's classification is restricted by reliance on basic commodities, weak governance, high political risks, and an underdeveloped banking sector, while the rating is supported by high foreign exchange reserves and low interest costs on government debt." 
 

The agency forecast a budget deficit "equal to about 5% of GDP in 2021, shrinking from an estimated 16.5% of GDP in 2020 due to high oil prices and devaluation, which will boost the local currency's value for oil exports by 5%." Of gross domestic product, "with the rest of the variables held constant."

There is a great deal of uncertainty in the projections because the 2021 budget has not been finalized, amid widely differing proposals. In 2022, we expect a similar deficit, as higher oil exports compensated for lower oil prices, while spending increased only marginally." After strong growth in 2021."

It pointed out that "oil export revenues will grow by 75% in 2021, based on an improvement of 42% in the price of Iraqi oil to $ 55 per barrel (Brent crude at $ 58 per barrel), the devaluation of the currency and a slight increase in the volume of exports." 

It noted that "non-oil revenues are likely to increase, but they do not meet the budget proposals, which included progressive reform of the payroll tax, a 10% flat tax on pensions, and a new sales tax on alcohol, tobacco and auto sales."

The agency indicated that "government debt / GDP increased to 87% in 2020 from 48.5% in 2019, driven by the budget deficit, and a 25% decrease in nominal GDP and currency depreciation, which added nearly 10 points in the ratio." Government debt / GDP." 
 

This includes foreign currency debt an estimated $ 40 billion in old debt arising from the 1980s, for which Iraq faces no pressure to serve after the 2004 Paris Club agreement, and excluding this debt, total government debt/GDP was around 60% at the end. - 2020.'

###########

Fitch Ratings revises outlook on Iraq to stable from negative  LINK

[3n1]

12 minutes ago, 6ly410 said:

the price of US dollar against Iraqi dinar will be fixed at the current price for the next four years. 

 

could someone please block this so Greedy doesn't read it 🤣 ... kidding greedy , all the best dv'ers 

[DinarThug]

11 minutes ago, DinarThug said:

Fitch Ratings revises outlook on IRAQ TO STABLE from negative

Son Of A Fitch - Just Wait Until The Goat Finds Out That Iraq’s Been Moved To The ‘Stable’ !  

 

 

     

[boosterbglee]

Nothing is stable about Iraq

!

[dinarham]

 I'm so exited about this I can't stand myself ! It's finally poppin ' !   Too much good news happening . I thought it was going to pop 15 years ago when they FINALLY passed the election law and Maliki got in . I thought O'bummer was going to announce it in his inaugural speech . Then it really did happen for about a half hour when it got pegged with the euro about 9 years ago . I was riveted to Dinar Speculator at that time .  

[pokerplayer]

6 minutes ago, dinarham said:

 I'm so exited about this I can't stand myself ! It's finally poppin ' !   Too much good news happening . I thought it was going to pop 15 years ago when they FINALLY passed the election law and Maliki got in . I thought O'bummer was going to announce it in his inaugural speech . Then it really did happen for about a half hour when it got pegged with the euro about 9 years ago . I was riveted to Dinar Speculator at that time .  

 

 Your excitement is contagious I am now finding myself getting a little more excited just by reading your post lol

 

pp

[Floridian]

Wait a minute!  I've been checking out cryptos to buy and have not been keeping up with dinar like I usually do.

Why is everyone excited?  

 

In reading headlines it says dinar will be pegged to the dollar for 4 more years.  I haven't read the articles.

 

What did I miss?  Please tell me.  Don't have time to read all right now.

 

Thank you.

[GreedyDinar07]

Well 3n1 if you hadn't of given me a heads up I would have went into my "Yo Sammady Sam Mode" %^%&!! but nothing surprises me with these cats. I am hoping for the best and pre paring for the worst. The headline states that the dinar will remain pegged (to the dollar I would imagine) for the next 4 years now that makes sense. The first paragraph states the price of the dinar will remain fixed for the next four years. If they leave it fixed at 1450 for the next four years there will be no more Iraq because the people will reap havoc and inflation will go through the roof. And who is this guy anyway. I don't expect anything this year but anything could happen and the way things are lining up it may happen when we least expect it. It would make sense for them not to wait because pro longing this doesn't make sense to me but I am just the little guy. I have read somewhere that the same people that own our Federal Reserve Bank (and many others} own the CBI and they will make their move whenever they please. (I have no proof of that of course but I wouldn't doubt it) I just want to see it manifest!! Go RV!!! #$#%#$!!! LOL!!  

[dinarham]

  Iraq is issuing new bank notes ,allegedly "covid proof"  but it's getting the peeps ready for new notes . They have their  nod from the IMF and the World Bank , a better rating from Finch ,whatever, and  a straight out acknowledgment that they are going to change the rate against the USD , It's all good ,you crazy diamonds! 

[DinarThug]

On 2/24/2021 at 3:24 PM, 6ly410 said:

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

 

Posted 40 seconds ago

 

https://iraqakhbar.com/2931956

 

News source / Baghdad today

News source / Baghdad today

Baghdad today

Prompt 

In the form of opinion

Ministry of Oil: Review the final version of the draft federal oil and gas law

The Minister of Oil stressed the importance of expediting the passage of the federal oil and gas law 

And its importance in organizing the management of oil and gas wealth in Iraq.

Oil Minister Ihsan Abdul-Jabbar Ismail said that the meeting of the opinion committee at the Ministry of Oil, which was held on Wednesday, February 24, 2021, included discussion and review of the final version of the federal oil and gas law. 

He emphasized that this copy should be referred to the Council of Ministers for approval 

After completing its review by the concerned authorities in the ministry, and then the Council of Ministers will review this copy 

And referred it in turn to the House of Representatives in order to enact this law. 

Referring to the ministry's keenness to pass a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support system" rel="">support the national economy.

                 

   information Office 

   In the Ministry of Oil 

   February 24, 2021

 

On 3/21/2021 at 1:33 PM, DinarThug said:

Here’s A Highlighted Version Of Bro 6ly’s Article !  

Al-Jabri announces the date for the approval of a very important law and the transfer of THE OIL AND GAS LAW to the next session

 

 

 

 

03/21/2021 18:07:42

 

 

A member of the Parliamentary Oil and Energy Committee for the Alliance of Iraqis, Sattar Al-Jabri, announced, on Sunday, the date of the vote on the Iraqi National Oil Company law after its second reading by the House of Representatives.

 

Al-Jabri said {to Euphrates News} that "the Iraqi National Oil Company law that has been read {first and second} will be submitted for a vote after the approval of the federal budget law for 2021," describing it as "very important."

 

He added, "As for the OIL AND GAS LAW, 

the committee sent a letter to the oil ministers, asking him to speed up sending it to the Council of Ministers for the purpose of voting on it, then transferring it to the House of Representatives for preparation, maturation and passing it after the first and second reading."

 

Al-Jabri also referred to "the importance of the law prepared since 2007 in regulating oil revenues and revenues, which represents approximately 90% of the budget, and that in order to achieve justice in the distribution of wealth, this law, which has been delayed for years, must be approved." 

While he stressed, "the committee's keenness to complete this law and follow it up by the Ministry of Oil," noting that "the law has many disagreements and differences and needs a long time to complete it."

The Speaker of Parliament, Muhammad al-Halbousi, confirmed the existence of stalled laws that the parliament will proceed to legislate, such as the oil and gas law, which is one of the laws stipulated in the constitution, and which will address the mechanism of dealing between Baghdad and Erbil and between Baghdad and the rest of the oil-producing provinces, and the law will be one of the council's next priorities. 
 

For its part, the Ministry of Oil stressed on the 25th of last February the importance of expediting the passage of the Federal Oil and Gas Law, noting that the law will work to regulate the management of oil and gas wealth in Iraq.

It is noteworthy that the Oil Ministry’s

SUDDEN ANNOUNCEMENT OF THE OIL AND GAS LAW

coincides with marathon negotiations between Baghdad and the Kurdistan region regarding the latter’s share in the 2021 budget

and the mechanism for managing his oil file.

 

13 minutes ago, Floridian said:

Why is everyone excited?  

I haven't read the articles.

What did I miss?  Please tell me.  Don't have time to read all right now.

Just Read The First Article By Bro 6ly At The Beginning Of This Thread - And The More Recent One In Adam’s Chat !  

 

     

 

Al-Jabri announces the date for the approval of a very important law and the transfer of THE OIL AND GAS LAW to the next session

 

 

 

 

03/21/2021 18:07:42

 

 

A member of the Parliamentary Oil and Energy Committee for the Alliance of Iraqis, Sattar Al-Jabri, announced, on Sunday, the date of the vote on the Iraqi National Oil Company law after its second reading by the House of Representatives.

 

Al-Jabri said {to Euphrates News} that "the Iraqi National Oil Company law that has been read {first and second} will be submitted for a vote after the approval of the federal budget law for 2021," describing it as "very important."

He added, "As for the OIL AND GAS LAW, 

the committee sent a letter to the oil ministers, asking him to speed up sending it to the Council of Ministers for the purpose of voting on it, then transferring it to the House of Representatives for preparation, maturation and passing it after the first and second reading."
 

Al-Jabri also referred to "the importance of the law prepared since 2007 in regulating oil revenues and revenues, which represents approximately 90% of the budget, and that in order to achieve justice in the distribution of wealth, this law, which has been delayed for years, must be approved." 

While he stressed, "the committee's keenness to complete this law and follow it up by the Ministry of Oil," noting that "the law has many disagreements and differences and needs a long time to complete it."

The Speaker of Parliament, Muhammad al-Halbousi, confirmed the existence of stalled laws that the parliament will proceed to legislate, such as the oil and gas law, which is one of the laws stipulated in the constitution, and which will address the mechanism of dealing between Baghdad and Erbil and between Baghdad and the rest of the oil-producing provinces, and the law will be one of the council's next priorities. 
 

For its part, the Ministry of Oil stressed on the 25th of last February the importance of expediting the passage of the Federal Oil and Gas Law, noting that the law will work to regulate the management of oil and gas wealth in Iraq.

It is noteworthy that the Oil Ministry’s 

SUDDEN ANNOUNCEMENT OF THE OIL AND GAS LAW 

coincides with marathon negotiations between Baghdad and the Kurdistan region regarding the latter’s share in the 2021 budget 

and the mechanism for managing his oil file.