Parliamentary Finance resolves the matter: We do not have any authority to change the price of the dollar

[yota691]

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

•  Time: 03/23/2021 14:36:25
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•  Read: 975 times

  

{Baghdad: Al Furat News} 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 has been made between the Kurdish delegation and the Shiite forces and the Sunni forces to pass Article 11 of the Budget Law regarding 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.
The Media Department of Parliament said at the time, in a statement, that "
Last Friday, Parliament failed to hold a session to vote on the budget, whose allocations are 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.

 

 

[yota691]

After the government's statement ... a legal mechanism proposed to Parliament to adjust the exchange rate

 

 

473 Sweeteners 2021/03/23 15:20 Baghdad Today -

Baghdad The head of the Jurists Union in Diyala, Hussein Al-Taie, confirmed today, Tuesday (March 23, 2021) that Parliament cannot change the exchange rate of the dollar, while identifying one mechanism through which the exchange rate can be adjusted. Al-Taie said in an interview with (Baghdad Today), "The Central Bank is an independent Iraqi institution that has its own law that defines its exclusive authority, the most important of which is determining the exchange rate of the dollar." He emphasized that "Parliament, although it is the highest legislative body in the country, does not have its powers to change the exchange rate of the dollar, whether it is lowered or raised." Al-Taie added, "Any parliamentary decision to amend the exchange rate of the dollar is illegal because the amendment is one of the exclusive powers of the Central Bank." He pointed out that "the only way to change the exchange rate of the dollar by Parliament is to legislate a new law for the Central Bank and give Parliament the authority to intervene in the exchange mechanisms, but it is very difficult because it represents interference in executive matters, in addition to proposing the law needs to go through schedules and discussions, and this matter needs to be done." long time". Yesterday, Monday (March 22, 2021), cabinet spokesman, Culture Minister Hassan Nazim confirmed that Parliament can change the exchange rate of the dollar, but it will not be obligatory for the government to implement it. "Al-Marbad" website quoted Nazem as saying that "Parliament has the opportunity to express its opinion on the exchange rate of the dollar and change it within the budget." He added, "The decision to change the exchange rate of the dollar will not be binding on implementation by the government, since the price change is related to the government and the central bank after setting the dollar exchange rate at 1450 dinars." The cabinet spokesman added, "It is the responsibility of Parliament to decide whether to approve and pass the budget, or to make amendments or changes to it." He pointed out that "the federal government has accomplished what is required of it in the budget file three months ago and now work is entrusted to parliament in all respects, while the government can help facilitate matters or conduct interpretations and negotiations on some files." The House of Representatives had failed the day before yesterday, Saturday, to hold the session devoted to voting on the draft federal budget law, after the failure of negotiations in Baghdad and Erbil over the region’s share. The House of Representatives raised the last session, until next Saturday, with the aim of completing the negotiations on the region’s share, especially Article 11 of the draft.

[yota691]

A Kurdish bloc reveals the existence of a political deal to pass the 2021 budget

 2021/03/23

 

 153

 

 

Baghdad / Al-Mawred News

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 "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."

[yota691]

 

Al-Maliki describes the budget as "unjust and unfair" and calls for mass mobilization

 

 

•  

 2021-03-23 08:35

 

 

Shafaq News / On Tuesday, a member of the Parliamentary Economic and Investment Committee, Abdul Salam Al-Maliki described the current budget as a “unfair and unfair” budget, calling on the people of Basra to support the governorate’s MPs to press for their rights.

 

Al-Maliki said in a statement received by Shafaq News, "It is no secret to everyone that the current budget is an injustice, unfair and unfair budget against the central and southern governorates, especially Basra, whose allocations are estimated at one trillion and 300 billion dinars only."

 

He added, "Basra was wronged in the beginning with the issue of allocations for projects planned for the province, and there was no kind of interest or concern to pay the province’s petrodollars debts, which amount to approximately 17 trillion dinars owed by the federal government.

 

The deputy from Basra Governorate indicated that "the Parliamentary Finance Committee today came to add another mistake by granting the Kurdistan Region the right to deduct a percentage of its oil commitment to the center of 460 thousand barrels under the title of petrodollars."

 

Al-Maliki added, "There is a contradiction in the steps of the government and the financial committee, as it gives the region’s debts and neglects Basra’s debts, and this is a great prejudice to the people of Basra, which represents the economic lung of Iraq." Agreements, relationships, interests and thefts are totally rejected. "

 

He stressed that, "Basra suffers today from neglect, poverty, hunger, diseases and pollution due to oil operations and previous wars, in addition to popular demonstrations, lack of services and unemployment, and then today grievances with this budget, which has been fair to the Kurdistan Region even in the issue of salaries even though the numbers of employees in the region are not real. Our operating portfolio is estimated at nine billion dinars, and this is a great injustice. "

 

Al-Maliki concluded by saying, "Today, Basra should be treated fairly, and the people of the province must support their representatives inside the parliament to press for granting the rights of the province."

[yota691]

 

Parliament: the dollar exchange rate remains in the budget based on a political agreement

 

•  

 2021-03-23 05:30

 

Shafaq News / The Parliamentary Economic Committee revealed, on Tuesday, 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, told Shafaq News, “There is no political or representative 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 has had a negative impact on the poor, with a limited salary and income."

The Central Bank of Iraq had decided to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to the dollar, with the aim of compensating for the decline in oil revenues resulting from the deterioration of oil prices.

It is noteworthy that all the prices of materials and commodities witnessed a significant increase in the local market, which sparked a strong wave of discontent among the popular circles and some of the political bloc, as well as the objections of some interested in economic affairs.

[rvmydinar]

59 minutes ago, yota691 said:Al-Maliki describes the budget as "unjust and unfair" and calls for mass mobilization

 

Unjust and unfair? Of course, both the rate 1450 right now or back to 1190 are unjust and unfair. If they put the rate on the budget=$3.22 on the 27, then this is fair to iraqi citizens and dinar investors.

[yota691]

Parliamentary Finance: The World Bank did not object to reducing the dollar’s price

12:18 - 24/03/2021

 

The information / Baghdad ..
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."

[yota691]

Parliamentary Finance to «Economy News»: The retirement fund is facing bankruptcy

 

MP Haitham Al-Jubouri

money and business Economy News - Baghdad The head of the Parliament's Finance Committee, Haitham al-Jubouri, announced that the retirement fund is destined for bankruptcy due to government policies. Al-Jubouri told Al-Iqtisad News, "The Iraqi government pays annually from the state treasury for the transitional justice laws represented by the salaries of victims of terrorism, political prisoners, Rafha and others, 20 trillion dinars," adding that the pension fund takes retirement pensions estimated at 10% of the salaries of employees and 15% Paid by the Ministry of Finance. " He stressed that the pension fund is currently paying 23% more money than its revenues, which means that the retirement fund will go bankrupt completely within 4 years, indicating that this bankruptcy is due to the laws that were issued and the increase in the minimum wage and others.

Number of observations 401   Date of addendum 03/24/2021

[yota691]

A deputy proposes a “government window” to reduce the harm of the high dollar’s price

14:12 - 24/03/2021

 

  

The information / Baghdad ...
Representative Mudhar Al-Karawi presented, on Wednesday, the government window proposal to reduce the harm of the high exchange rate on 12 million Iraqis.
Al-Karawi said in an interview with Al-Maouma that, “The change in the exchange rate of the dollar is one of the important reasons in the ongoing disputes between the parliamentary forces regarding the budget file, which prompted it to be postponed until next Saturday, in addition to other reasons, stressing that the high exchange rate has caused damage to 12 million Iraqis, who make up 30 % Of Iraqis who are below the poverty line.
Al-Karawi added, “The matter can be addressed through the government’s adoption of a window that, through its companies, imports foodstuffs and medicines at the old exchange rates and provides them in the markets and stores, increases the ration card items, and achieves stability in the distribution dates, thus ensuring that the poor are deliberately harmed by the high prices that will return to their previous position. It decreases further if there is development in the ration card file.
He pointed out that “the dollar exchange rate complex has started to escalate and may lead to a new delay in settling the budget, stressing the need for the government to have quick solutions in the face of the high price fever, which has begun to cause great harm to the poor and the segment of people with limited income, especially since the rise in some basic materials reached more From 60% ”.
Representative forces refused to keep the exchange rate in its new pricing due to the severe harm to millions of poor people.

[DoD]

On 3/23/2021 at 10:01 AM, rvmydinar said:

Unjust and unfair? Of course, both the rate 1450 right now or back to 1190 are unjust and unfair. If they put the rate on the budget=$3.22 on the 27, then this is fair to iraqi citizens and dinar investors.

Close your eyes and click your heels together an repeat, Parliament has nothing to do with the exchange rate. Say this 10 times each day... 

[rvmydinar]

2 minutes ago, DoD said:

Parliament has nothing to do with the exchange rate. 

Thanks for remaining me.

[GreedyDinar07]

I am glad Parliament doesn't have anything to do with the exchange rate because an RV would never see the light of day dealing with those clowns. They can't even pass the budget and they are sitting on a ton of wealth. The amount of wealth they have  would give a normal person the incentive to want to pass the budget. Isn't it ironic that the IMF is involved with the economic reform of Iraq and the IMF/ World Bank are based out of Washington DC. Maybe I need to drive up to Washington and look through their paper work for a date and exchange rate!!

[Spartakus]

I agree.

[DinarDavo]

5 minutes ago, GreedyDinar07 said:

They can't even pass the budget and they are sitting on a ton of wealth.

 

Sad but true. Enough to share with all the citizens and more than they could ever spend, yet......

[yota691]

Cougar: There are ongoing differences over the budget and it is unlikely that it will be approved on Saturday

•  Time: 03/24/2021 23:56:58
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•  Read: 1,495 times

  

{Economic: Al Furat News} The Parliamentary Finance Committee has ruled out passing the federal budget bill for 2021, during the Parliament session next Saturday.

 

Committee member Jamal Cougar said in a press statement: "There are still differences between the forces and political parties regarding the draft financial budget bill."
He ruled out "passing the law during the parliament session next Saturday."
Parliament is scheduled to hold a session on Saturday to vote on the fiscal budget bill for 2021 after it twice failed to pass it, with the continuing differences between Baghdad and the Kurdistan region regarding the latter's share.

Ammar Al-Masoudi

 

 

[Jaygo]

44 minutes ago, yota691 said:

Cougar: There are ongoing differences over the budget and it is unlikely that it will be approved on Saturday

•  Time: 03/24/2021 23:56:58
•  
•  Read: 1,495 times

  

{Economic: Al Furat News} The Parliamentary Finance Committee has ruled out passing the federal budget bill for 2021, during the Parliament session next Saturday.

 

Committee member Jamal Cougar said in a press statement: "There are still differences between the forces and political parties regarding the draft financial budget bill."
He ruled out "passing the law during the parliament session next Saturday."
Parliament is scheduled to hold a session on Saturday to vote on the fiscal budget bill for 2021 after it twice failed to pass it, with the continuing differences between Baghdad and the Kurdistan region regarding the latter's share.

Ammar Al-Masoudi

 

 

This surprises NO ONE!!! 🤦🏻

[Jaygo]

My personal opinion is they do not need to pass the budget for a rate change. They know right now what they can and can’t do. Make the rate change, pass the budget later, move the decimal point as many as they need to and go on. It is really that easy. I’m not sold that they have to have an HCL either. HCL is only stating where the money is going. They don’t need it to do a rate change. Would it help? Sure! But they don’t have to have it to change the rate. 

[jmartin1145]

10 minutes ago, Jaygo said:

My personal opinion is they do not need to pass the budget for a rate change. They know right now what they can and can’t do. Make the rate change, pass the budget later, move the decimal point as many as they need to and go on. It is really that easy. I’m not sold that they have to have an HCL either. HCL is only stating where the money is going. They don’t need it to do a rate change. Would it help? Sure! But they don’t have to have it to change the rate. 

Double talk. Lets circle around.

[Jaygo]

37 minutes ago, jmartin1145 said:

Double talk. Lets circle around.

? Huh ? 

[jmartin1145]

6 minutes ago, Jaygo said:

? Huh ? 

You know what I am talking about. Closet Lib. Oh by the way? What colors are you flying tonight?

[Longtimelurker]

18 minutes ago, jmartin1145 said:

You know what I am talking about. Closet Lib. Oh by the way? What colors are you flying tonight?

🌈 lol

[yota691]

Parliamentary Finance resolves the controversy: There is no request to reduce the exchange rate

 2021/03/24

 

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Baghdad / Al-Mawred News

, the Parliamentary Finance Committee confirmed, today, Wednesday, that there is no representative request for the Central Bank to reduce the exchange rate, while it indicated that Article 11 of the Kurdistan region is still delaying the conclusion of the budget law.
Committee member Muhammad al-Shabaki said, in an interview reported by the Iraqi News Agency, "Article 11 related to the oil agreement, the region's dues and settling accounts from 2004 to 2020 is still the obstacle to which negotiations between the parties to resolve the Maronite law have stalled because of it."
He added, "The political blocs intervened to give a week for deliberation between leaders in the region to come out with a clear position from Article 11 and the region’s commitment to pay dues to the federal government and the latter’s commitment to the region’s dues.
He noted that "
He pointed out that "there is no request to the House of Representatives and to address the Central Bank to reduce the exchange rate, but there are several parliamentary claims to reduce it."

[yota691]

Legal expert: Parliament legislation is not binding on the central bank

 2021/03/24

 

 118

 

Baghdad / Al-Mawred News

The legal expert, Tariq Harb, confirmed today, Wednesday, that the constitution stipulated that the Central Bank of Iraq would not be subject to Parliament's oversight, and that it would be freed from any commitment or legislation made by the latter regarding the exchange rate.

Harb said in a statement, "The only independent body among the independent bodies that the constitution has granted privileges that exceed those of other independent bodies mentioned in the constitution in the chapter on independent bodies, namely Articles 102 and 103 of the constitution. The constitution did not make the central bank’s association with the House of Representatives. The Office of Financial Supervision and the Media and Communications Commission are linked to the House of Representatives, and the constitution has made the endowment offices link with the Council of Ministers.

He added, "The constitution did not make the Central Bank subject to the oversight of the House of Representatives, as it did with the Human Rights Commission and the Independent High Commission for the elections, which the constitution decided to be subject to oversight by the House of Representatives."

He stressed that "the independence of the Central Bank of Law No. 76 of 2004 issued by (Bremer) during the period of his rule is still in effect, and these constitutional and legal provisions have their place when discussing the dollar exchange rate that he set, and issuing laws, especially the draft 2021 budget law that is discussed in the House of Representatives. Currently".

 

[yota691]

Finance denies statements attributed to its minister about submitting his resignation

Political| 03:42 - 24/03/2021

 

 

 

 

Baghdad - Mawazine News
The Ministry of Finance denied, on Wednesday, the statement of its Minister, Ali Allawi, regarding submitting the resignation in the event of a change in the exchange rate of the dollar.
The ministry stated, in a statement that Mawazine News received a copy of, that "some TV channels, news agencies, and statements of some members of Parliament circulated news attributed to the minister about submitting his resignation in case the exchange rate changed."
She added, "The Ministry of Finance denies these fabricated and baseless statements that were attributed to Minister Ali Abdul Amir Allawi."
The Ministry called on the media to "not deal with such fake news, to ensure its authenticity, not to be swept away by rumors, and to approve news and information through its websites and social media pages on Facebook and Twitter." Ended 29 / A 43

[yota691]

After the sudden decline, the dollar is rising with the diminishing chance of changing the balance

•  Time: 03/25/2021 12:40:01
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•  Read: 5,720 times

  

{Economic: Al Furat News} The exchange rate of the dollar against the Iraqi dinar returned to the rise today, Thursday, after a decline that continued for days this week.

The dollar suddenly declined this week, reaching 1,420 dinars.
Today, Thursday, the dollar recorded in Baghdad 1445 dinars, or 144 thousand and 500 dinars.
In the province of Basra, it increased to 1442.5 dinars, and in Erbil, 1448 dinars.
Parliamentary efforts are underway to reduce the exchange rate of the dollar in the draft fiscal budget for 2021.
However, the Parliamentary Finance Committee ruled out any change in the exchange rate.
Committee rapporteur Ahmed Al-Saffar said in a press statement on March 19: “I think that changing the exchange rate of the dollar was exaggerated by the government and changing it requires a second consensus between the Central Bank of Iraq, the Ministry of Finance, the International Monetary Fund and the World Bank, and many changes are arranged on it and this needs time. And a second budget to be talked about changing, "indicating that" the current budget will adopt the current exchange rate. "
For its part, the government responded to the efforts of the House of Representatives to change the exchange rate.
Cabinet spokesman Hassan Nazim said in a press statement, last Monday, that "the opportunity is available to Parliament to express its opinion on the exchange rate of the dollar and change it within the budget, but its decision will not be binding on the application by the government because the price change is related to the government and the Central Bank of Iraq, which set the price." The exchange of the dollar is 1450 dinars, while Parliament has the responsibility to decide whether to approve and pass the budget, or to make amendments or changes to it. "
He explained, "The federal government has accomplished what is required of it in the budget file 3 months ago, and work is now entrusted to parliament in all respects, while the government can help facilitate matters or conduct interpretations and negotiations on some files."
It is noteworthy that the Central Bank of Iraq decided on December 19 to amend the exchange rate of the dollar as follows: 
1450 dinars per dollar is the purchase price of foreign currency from the Ministry of Finance.
1460 dinars per dollar, the selling price of foreign currency to banks.
1470 dinars per dollar is the selling price of foreign currency to the public.
The federal government attributes the decision to raise the exchange rate of the dollar to 1,450 dinars, after it was 1,190 dinars to fill the financial deficit that the state suffers from, which aroused the discontent of citizens as a result of the high prices in the local markets in general.
Prime Minister Mustafa Al-Kazemi said that the new exchange rate has provided foreign exchange reserves in the Central Bank about 4 billion dollars since its change.
Ammar Al-Masoudi