Iraqi Council of Ministers issues a package of decisions within the framework of "financial reform"

[yota691]

The Council of Ministers holds its session headed by Al-Sudani

Today, 14:00

 

Al-Ghad Press / Baghdad

 Today, Tuesday, the Council of Ministers held its regular weekly session headed by Prime Minister Muhammad Shiaa Al-Sudani.

 

According to a statement from Al-Sudani’s office received by Al-Ghad Press, “The Council of Ministers held its regular session headed by the Prime Minister, Muhammad Shia’ Al-Sudani.”

 

It is worth noting that the Council of Ministers holds its regular sessions on Tuesday of every week, to discuss the most important issues and ministerial plans drawn up and make decisions regarding them.

 

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Iraqi Council of Ministers issues a package of decisions within the framework of "financial reform"

Iraqi Council of Ministers issues a package of decisions within the framework of "financial reform" - Shafaq News

2023-09-26 11:41

 

He stated The media office of Prime Minister Mohamed Shia Al-Sudani, in a statement received by Shafaq Agency News, that the latter chaired the thirty-ninth regular session of the Council of Ministers, and During which they discussed the developments of the situation in the country, and followed up the implementation of files related to various issues at the national level, progress of implementation of government program priorities, as well as Discuss topics on the agenda, and issue decisions and recommendations related to out.

 

He spoke Al-Sudani at the beginning of the meeting, announced his participation at the head of the Iraqi delegation to the meetings of the Assembly General Assembly of the United Nations, held in New York, and meetings held on the margins of this Participation with a number of leaders and heads of state, international and global organizations, and the outcome of These meetings, including common understandings, agreements and statements, feed the path of international cooperation. for Iraq, and strengthens economic partnerships with brotherly and friendly countries.

 

Face Sudanese all ministries to work to follow up on what was reached in this visit Activating bilateral agreements and common understandings.

 

as The Prime Minister renewed the government's commitment to international resolutions and the principles of good neighborliness, and affirmed Its keenness to overcome the dispute with the sisterly State of Kuwait, and to exert efforts to find a solution The issue of regulating navigation in Khor Abdullah, in a manner that does not conflict with the Iraqi Constitution and the law pointing out that such crises are solved by understanding and reliance on rationality, Away from the language of emotion and convulsive populist statements that only produce more Crises and tension.

 

He expressed The Sudanese is fully confident that this dispute will disappear due to what the two sides, the Iraqi have. The Kuwaiti has a strong will to resolve this issue through the mechanisms of mutual understanding and dialogue.

 

and celebration On the National Day of the Republic of Iraq, the Prime Minister directed the suspension of official working hours on Tuesday, October 3, 2023, in all ministries and state institutions, with these Occasion.

 

Loyal In order to continue the steps of financial and administrative reform, the Council of Ministers decided the following:

 

1- Commitment that all state contracts executed inside Iraq be in Iraqi dinars, Except for what is opened in an external documentary credit, it shall be according to the agreement between the parties and for the value of Documentary credit only.

 

2- The Ministry of Planning lists all previous state contracts that were contracted in currency U.S. dollar, except for those in which an external documentary credit has been opened, and a schedule is prepared thereof, shall be sent to the Ministry of Finance and the Central Bank with the amounts of these contracts due, provided that The Ministry of Planning sets the monthly maximum limit that the Central Bank must cover in dollars. The United States, according to the dues received from the contracting parties, and the Central Bank covers These dues at an exchange rate of (1320 dinars) per US dollar, are deposited in the account of the Ministry Finance, for the purpose of covering the monthly payments to pay these contracts, and according to the work arms Exchange release orders that meet release controls.

 

3- Regarding Iraqi borrowers from government banks (including the Iraqi Bank) for Trade) in US dollars, these banks are obliged to meet their loans at an exchange rate (1320 dinars) for each US dollar from the borrower, provided that the Central Bank covers these Loans in U.S. dollars, repaid to the lending bank, and this procedure applies to loans that Taken place only prior to the issuance of this decision.

 

as The Council of Ministers approved the recommendation of the Ministerial Council for Economy (230204) as follows:

 

1. The Ministry of Transport postponed the claim for its debts related to floor fees and fines incurred The General Company for Iron and Steel and rescheduling it to be paid when operating factories The aforementioned company.

 

2. The Ministry of Transport / General Company for Ports of Iraq took all due process procedures with the authorities The beneficiary and the development of a working mechanism that ensures the speedy exit of goods from the ports; Fines or floor fees due to delays in removing them.

 

Within The Council's follow-up of the energy sector, progress in the implementation of reform and development paths and exploitation Gas wealth, the Cabinet approved the recommendation of the Ministerial Council for Energy (23083 T for the year 2023) on the Gas Collection and Compression Project in the Nasiriyah Oil Field, as follows:

 

confession Recommendation of the Central Committee for Review and Approval of Referral at the Ministry of Oil in its session held on 6 August 2023 regarding the request of Dhi Qar Oil Company, one of the companies of the Ministry of Oil, Approval of the referral of the gas collection and pressing project in the Nasiriyah oil field to the custody of a consortium (Oil Projects Company / Ministry of Oil and Italian PEG), in the amount of (272,000,000) dollars only two hundred and seventy-two million dollars, which is higher than the cost The estimate is (7.3%) according to the letter of the Dhi Qar Oil Company dated July 26, 2023.

 

Loyal With regard to the electricity sector, the Council of Ministers approved the approval of what was stated in the letter of the Ministry of Electricity on September 4, 2023, regarding the amendment of the sales contract through the amendment and renewal of the contract related to the Iraqi-Jordanian electricity interconnection project, signed in 2019, to suit the new processing period and amend the terms and conditions, while maintaining the equation The price contained in the power sale contract, which includes the sale of electrical energy from a company National Electric Power of the Hashemite Kingdom of Jordan to the General Power Transmission Company Electrical-Central Region/Ministry of Electricity, to purchase power for 36 months after Completion of the connection between the two Risha transfer stations in Jordan and the Al-Qaim transfer station in Iraq on 400 kV voltage

 

Within Oil sector affairs, completion of export infrastructure and development of Iraq's capabilities in this The Council of Ministers decided the following:

 

1. The Ministry of Finance placed a deposit with the Iraqi Trade Bank for the value of the total cost of the project Offshore pipelines (4 and 5) and the new offshore platform (1,265,444,000,000) dollars, which is included in the investment plan of the Ministry of Oil / Basra Oil Company for the year 2023.

 

2. Commitment of the Ministries of Planning and Oil to the total cost of the aforementioned project and the allocations Annual within the investment budget of the Ministry of Oil for the years (2023, 2024 and 2025) 2026).

 

3. The Ministries of Oil and Planning notify the Ministry of Finance / Accounting Department of the outstanding funding to the contracting company according to the amount of completion and approved contexts, and the funding of the Ministry of Finance The company's account is from the deposit mentioned in paragraph (1) above.

 

4. Cancellation of Cabinet Decisions (29 of 2020), (6 of 2021) and (83 of 2022).

 

Loyal In addition to following up on the provision of means of fortification, and the requirements of security work and the extension of stability, decided The Council of Ministers approves the exception of the contract for the implementation of the Misk Wadi Al-Tharthar project (Buying cameras and concrete towers and creating fortified points); stipulated in the instructions for the implementation of government contracts (2 of 2014), and from the armament controls issued by the National Security Advisory for arming the security services, due to the importance of the project Tactical and strategic.

 

as The Council decided to approve the issuance of the Air Defense Institute system, based on the provisions of the Defense University for Military Studies No. (4) of 2016, and the provisions of the Constitution, taking into account Attention to the notes of the Legal Department in the General Secretariat of the Council of Ministers.

 

He continued The Council follows up the vocabulary of the application of agricultural plans and the implementation of methods to confront water scarcity and drought and the adoption of modern methods of irrigation, as the Council of Ministers approved the recommendations of the minutes of the meeting Inter-Ministerial Permanent Committee (Agriculture and Water Resources) on the Plan Winter agricultural approved for the season (2023-2024), as follows:

 

1. The commitment of the Ministry of Water Resources to the winter agricultural plan based on the expectations of Markaz World Meteorology.

 

2. The winter culture season and seed distribution starting from October 1, 2023, will be on The Ministry of Water Resources will start increasing water releases on November 15 2023.

 

3. Re-review the indicators of the winter agricultural plan during the period from November 15, 2023 Until November 30, 2023.

 

4. Determine the areas covered by irrigation in the winter season as follows:

 

- The areas covered by irrigation through rivers and streams are one and a half million dunums.

 

- The areas for which the water share will be secured through underground wells by four Millions of dunums, provided that modern irrigation systems are used, and negligent persons are held accountable and not included The next agricultural plan when using irrigation Siha.

 

5. Focusing agriculture on rivers and issuing streams and preventing cultivation within the boundaries of marshes and escapes Flooding in the governorates of (Wasit, Maysan, Basra, Diyala and Dhi Qar).

 

6. Granting interest-free loans for the purchase of modern irrigation systems (pivot and fixed systems) and drip) and solar energy systems.

 

7. Subsidizing the price of fuel for the Ministry of Water Resources and launching the fuel quota to meet the scarcity conditions Aquatic.

 

8. Continue the campaign to remove encroachments, especially the campaign to remove unlicensed fish lakes.

 

9. Formation of joint committees from the directorates of water resources, directorates of agriculture and agricultural committees Agricultural associations, police directorates in all governorates, and local governments, To follow up on the commitment of farmers and farmers to the irrigation areas approved in the plan above, And hold violators legally responsible for their transgression, and the two ministries are not committed We are not responsible for considering or promoting any claims for compensation if this occurs, with Setting bi-monthly meetings to be agreed to determine their dates, in coordination between the directorates of Ministry of Agriculture and directorates of water resources in all governorates.

 

Within The cultural aspect, the Council of Ministers approved the issuance of the Third Amendment Regulation to the Law of Study Institutes Musical (10 of 1987) audited by the Council of State, based on the provisions of the Constitution And the third item of Article (8) of the Law of the Ministry of Culture (17 of 2001), taking into account With interest in presenting its curricula to the Ministry of Education / Directorate General of Curricula for approval.

 

Acknowledged The Council Issues the Second Amendment Regulation of the Baghdad School of Expressive Musical Arts (16 of 1985) audited by the Council of State, based on the provisions of the Constitution and the provisions of the Ministry of Culture (17 of 2001).

 

Loyal Within the framework of cultural relations, the Council of Ministers approved the reopening of the Cultural Center Iraqi in the German capital Berlin.

 

as The Council considered a number of files and issues on the agenda, and took decisions necessary in this regard, as follows:

 

1- Granting the Ministry of Justice the authority to exclude from the mechanism used in selection, and to contract with Law firms, with fees commensurate with the value of the lawsuit, and the committee composed a letter The General Secretariat of the Council of Ministers on September 12, 2023, to follow up on the arbitral award in the case of Horus Company, to unite legal, political and technical efforts.

 

2- Approval of the recommendation of the Ministry of Foreign Affairs on the establishment of a non-resident diplomatic representation with the Republic of Moldova, through our Embassy in Bucharest, based on the provisions of Articles 25 and 26 Foreign Service Law No. 45 of 2008 and the Vienna Convention on Consular Relations For the year / 1963.

 

3- Adoption of the recommendation of the Ministerial Development Council Humanity (23028b for the year 2023), as follows:

 

confession National Strategy for Suicide Prevention in Iraq (2023-2030).

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Al-Ghad Press publishes the decisions of today’s Cabinet session

Yesterday, 20:39

 

Al-Ghad Press/Baghdad  

Today, Tuesday, Al-Ghad Press publishes the decisions of the thirty-ninth cabinet session held under the chairmanship of Prime Minister Muhammad Shiaa Al-Sudani.

 

Al-Sudani’s office stated in a statement received by Al-Ghad Press, a copy of which was received, that “The Prime Minister chaired, today, the thirty-ninth regular session of the Council of Ministers, during which developments in the situation in the country were discussed, the implementation of files related to various issues at the national level was followed up, and the progress of Implementing the priorities of the government program, in addition to discussing the topics on the agenda, and issuing decisions and recommendations related to them.”

 

The statement indicated that "Al-Sudani spoke, at the beginning of the session, about his participation at the head of the Iraqi delegation to the meetings of the United Nations General Assembly, which were held in New York, and the meetings that were held on the sidelines of this participation with a number of leaders and heads of state, and international and global organizations, and what resulted from These meetings, including joint understandings, agreements, and statements, fuel the path of Iraq’s international cooperation and strengthen economic partnerships with brotherly and friendly countries.”

 

He directed all ministries to "work to follow up on what was reached in this visit and activate bilateral agreements and joint understandings."

 

Al-Sudani reiterated "the government's commitment to international resolutions and the principles of good neighbourliness, and affirmed its keenness to overcome the dispute with the sister State of Kuwait, and to make efforts to find a solution to the issue of regulating navigation in Khor Abdullah, in a way that does not conflict with the Iraqi constitution and international law, indicating that such crises will be resolved." “With understanding and reliance on rationality, away from the language of emotion and convulsive populist statements that only produce more crises and tension,” he expressed his “full confidence in the disappearance of this dispute, given the strong will that both sides, the Iraqi and Kuwaiti, have to resolve this issue through mechanisms of mutual understanding and dialogue.” .

 

He directed "to suspend official working hours on Tuesday, October 3, 2023, in all ministries and state institutions, in celebration of the National Day of the Republic of Iraq."

 

In the field of continuing financial and administrative reform steps, the Council of Ministers decided the following :

 

1 -  Commitment that all state contracts executed inside Iraq will be in Iraqi dinars, except for those opened by an external documentary credit, in which case they will be according to the agreement between the two parties and for the value of the documentary credit only .

 

2-  The Ministry of Planning will inventory all previous state contracts that were contracted in the US dollar currency, with the exception of those for which an external documentary credit was opened, and prepare a table of them, which will be sent to the Ministry of Finance and the Central Bank with the amounts of these contracts due, provided that the Ministry of Planning determines the upper limit. Monthly, the Central Bank must cover it in US dollars, according to the receivables received from the contracting parties. The Central Bank covers these receivables at an exchange rate of (1,320 dinars) for each US dollar, deposited in the account of the Ministry of Finance, for the purpose of covering the monthly payments to pay these contracts, according to the requirements. Work and exchange release orders that meet release controls .

 

3-  Regarding Iraqi borrowers from government banks (including the Iraqi Trade Bank) in the US dollar currency, these banks are committed to repaying their loans at an exchange rate of (1,320 dinars) for every US dollar from the borrower, provided that

The Central Bank covers these loans in US dollars, which are repaid to the lending bank.

This procedure applies exclusively to loans that were made before the issuance of this decision .

 

The Council of Ministers also approved the recommendation of the Ministerial Council for the Economy (230204 Q) as follows :

 

1.  The Ministry of Transport postponed claiming its debts related to flooring fees and fines incurred by the General Iron and Steel Company and rescheduled them; Payment will be made when the aforementioned company’s factories are operational . 

 

2.  The Ministry of Transport/The General Company for Ports of Iraq took all necessary procedures with the beneficiary parties and established a working mechanism that ensures the speedy removal of goods from the ports. To avoid fines or floor fees due to the delay in getting them out .

 

As part of the Council’s follow-up of the energy sector and progress in implementing paths of reform, development and exploitation of gas wealth.

 

The Council of Ministers approved the recommendation of the Ministerial Council for Energy (23083 of 2023) regarding the gas gathering and compression project in the Nasiriyah oil field, according to the following :

 

 Approval of the recommendation of the Central Committee for Review and Approval of the Referral in the Ministry of Oil at its session held on August 6, 2023 regarding the request of Dhi Qar Oil Company, one of the companies of the Ministry of Oil, to approve the referral of the gas gathering and compression project in the Nasiriyah oil field under the custody of the coalition (Oil Projects Company / Ministry of Oil and Oil Company) Italian  PEG  ), at an amount of only (272,000,000) dollars, two hundred and seventy-two million dollars, which is higher than the estimated cost by (7.3%) according to the Dhi Qar Oil Company’s letter dated July 26, 2023 .

 

With regard to the electricity sector, the Council of Ministers approved what was stated in the letter of the Ministry of Electricity dated September 4, 2023, regarding amending the sales contract by amending and renewing the contract related to the Iraqi-Jordanian electrical interconnection project, which was signed in 2019, to suit the new preparation period. And amending the terms and conditions, while maintaining the price equation contained in the energy sale contract, which includes the sale of electrical energy from the National Electricity Company in the Hashemite Kingdom of Jordan to the General Electric Power Transmission Company - Central Region / Ministry of Electricity, to purchase energy for a period of 36 months after completing the connection between the two stations. Al-Risha transformer in Jordan and Al-Qaim transformer station in Iraq with a voltage of 400 kV.

 

Within the affairs of the oil sector, completing the export infrastructure, and developing Iraq’s capabilities in this field, the Council of Ministers decided the following :

 

1.  The Ministry of Finance placed a deposit with the Trade Bank of Iraq in the amount of the total cost of the two marine pipelines project (4 and 5) and the new marine platform amounting to ($1,265,444,000,000), which is included in the investment plan of the Ministry of Oil/Basra Oil Company for the year 2023 .

 

2.  The commitment of the Ministries of Planning and Oil to the total cost of the aforementioned project and the annual allocations within the investment budget of the Ministry of Oil for the years (2023, 2024, 2025, and 2026 ). 

 

3.  The Ministries of Oil and Planning shall notify the Ministry of Finance/Accounting Department of the financing due to the contracting company according to the amount of achievement and the approved contexts, and the Ministry of Finance shall finance the company’s account from the deposit mentioned in Paragraph (1) above .

 

4.  Cancellation of Cabinet Decisions (29 of 2020), (6 of 2021), and (83 of 2022 ).

In addition to following up on the provision of fortifications, requirements for security work and extending stability, the Council of Ministers decided to approve an exception to the contract for the implementation of the Misk Wadi Al-Tharthar project (purchasing cameras and concrete towers and establishing fortified points). From the direct contracting methods stipulated in the Instructions for Implementing Government Contracts (2 of 2014), and from the armament controls issued by the National Security Advisory regarding arming the security services, due to the tactical and strategic importance of the project .

 

The Council also decided to approve the issuance of the Air Defense Institute system, based on the provisions of the Defense University Law for Military Studies No. (4) of 2016, and the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers .

The Council continued to follow up on the implementation of agricultural plans, the implementation of methods to combat water scarcity and drought, and the adoption of modern methods of irrigation, as the Council of Ministers approved the recommendations of the minutes of the meeting of the joint permanent committee between the Ministries of Agriculture and Water Resources regarding the winter agricultural plan approved for the season (2023-2024), according to the following: : 

 

1.  The Ministry of Water Resources’ commitment to the winter agricultural plan based on the forecasts of international meteorological centers .

 

2.  The winter planting and seed distribution season will start on October 1, 2023, provided that the Ministry of Water Resources begins increasing water releases on November 15, 2023 .

 

3.  Re-reviewing the indicators of the winter agricultural plan during the period from November 15, 2023 until November 30, 2023 .

 

4.  Determine the areas covered by irrigation in the winter season according to the following :

 

    -  Areas covered by irrigation through rivers and streams are one and a half million dunums .

 

    -  The areas for which the water share will be secured through underground wells in the amount of four million dunums, on the condition that modern irrigation systems are used, and those who are negligent are held accountable and not included in the next agricultural plan when using irrigation as a tourist .

 

5.  Focusing agriculture on rivers and stream beds and preventing agriculture within the borders of marshes and floodplains in the governorates of Wasit, Maysan, Basra, Diyala, and Dhi Qar .

 

6.  Granting interest-free loans to purchase modern irrigation systems (pivot, fixed, and drip systems) and solar energy systems .

 

7.  Subsidizing the price of fuel for the Ministry of Water Resources and launching the fuel quota to address water scarcity conditions .

 

8.  Continue the campaign to remove violations, especially the campaign to remove unauthorized fish lakes .

 

9. Forming joint committees from the Water Resources Directorates, Agriculture Directorates, Agricultural Committees, Farmer Associations, and Police Directorates in all governorates, and local governments, to follow up on farmers’ and peasants’ commitment to the irrigation areas approved in the plan above, and to hold violators legally responsible for their violations. The two ministries are not committed and are not responsible for considering or promoting any requests. Regarding compensation if this happens, with setting bi-monthly meetings whose dates are agreed upon, in coordination between the directorates of the Ministry of Agriculture and the water resources directorates in all governorates .

 

Within the cultural aspect, the Council of Ministers approved the issuance of the third amendment to the system of musical studies institutes (10 of 1987), which was audited by the State Council, based on the provisions of the Constitution and Clause Three of Article (8) of the Ministry of Culture Law (17 of 2001), taking into consideration Submitting its curricula to the Ministry of Education/General Directorate of Curricula for approval .

 

The Council approved the issuance of the Second Amendment System to the System of the Baghdad School of Expressive Musical Arts (16 of 1985), which was audited by the State Council, based on the provisions of the Constitution and the provisions of the Ministry of Culture Law (17 of 2001) .

 

Within the framework of cultural relations, the Council of Ministers approved the reopening of the Iraqi Cultural Center in the German capital, Berlin .

 

The Council also considered a number of files and issues presented on the agenda, and took the necessary decisions regarding them, as follows :

 

1-       Giving the Ministry of Justice the authority to make an exception to the mechanism used in selection, and to contract with law firms, with fees commensurate with the value of the case, and for the committee composed of a letter from the General Secretariat of the Council of Ministers on September 12, 2023, to follow up on the arbitration decision in the Horus Company case, to unify legal, political and technical efforts. .

 

2-       Approval of the Ministry of Foreign Affairs’ recommendation regarding the establishment of non-resident diplomatic representation with the Republic of Moldova, through our embassy in Bucharest, based on the provisions of Articles (25) and (26) of Foreign Service Law No. (45) of 2008, and the Vienna Convention on Consular Relations for the year/ 1963 .

 

3-       Approval of the recommendation of the Ministerial Council for Human Development (23028 B of 2023), according to the following :

 

Approval of the national strategy for suicide prevention in Iraq (2023-2030).

 

[yota691]

The Council of Ministers obligates state institutions to deal in the Iraqi dinar

Yesterday, 20:47

 

Al-Ghad Press/Baghdad  

Today, Tuesday, the Council of Ministers decided to oblige all ministries and state institutions to deal and contract exclusively in the Iraqi dinar currency. In a move to abandon the dollar completely .

 

A statement from the Prime Minister’s Office, a copy of which was received by Al-Ghad Press, stated that “the decisions of the Council of Ministers session included a commitment that all state contracts executed inside Iraq be in Iraqi dinars, except for those opened with an external documentary credit. ”

 

The statement indicated, “The Ministry of Planning has taken stock of all previous state contracts that were contracted in the US dollar currency, with the exception of those for which an external documentary credit was opened, and prepared a table of them, which is sent to the Ministry of Finance and the Central Bank with the amounts of these contracts due, provided that the Ministry of Planning determines, The maximum monthly limit that the Central Bank must cover in US dollars .”

 

The statement pointed out that "Iraqi borrowers from government banks in the US dollar currency, these banks are obligated to repay their loans at an exchange rate (1,320 dinars) for every US dollar from the borrower, provided that the central bank covers these loans in US dollars, and repays them to the lending bank. This procedure applies to Loans that were made before the issuance of this decision exclusively.”

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Al-Sudani warns of “poisoned speech”: Our government is for all Iraqis of all affiliations

Yesterday, 15:56

 

Al-Ghad Press/Baghdad

Prime Minister Muhammad Shiaa Al-Sudani warned on Tuesday against adopting “poisonous rhetoric” and exporting it to Iraqi society with the aim of spreading sectarianism and racism, while renewing his pledge that his government would be for all Iraqis, regardless of their affiliations.

 

Al-Sudani said in a speech he delivered during his participation in a celebration held by the Sunni Endowment Office on the occasion of the anniversary of the Prophet’s birthday, which Al-Ghad Press attended, “Our country was subjected to a fierce attack, and external agendas intervened in it, which worked to spread the poisons of strife and sectarianism, and we were able, with the unity of the Iraqis, to overcome The difficult days after the change in 2003, when sectarian killing gangs spread throughout Iraq.

 

Al-Sudani added: “The great battle was when terrorist gangs invaded our provinces in northern and western Iraq, and people were exposed to brutal crimes committed by ISIS gangs,” noting that “all Iraqis stood on the barricades of all religions, sects and nationalities to liberate the land and people, so their pure blood mixed.” In one of the greatest epics of history."

 

He continued: "We have taken it upon ourselves, as a government, to be for all Iraqis, regardless of their affiliations, and to provide a decent living for every Iraqi, preserve their security and dignity, and not allow those who live on division and strife to sow their malicious seeds among us."

 

Al-Sudani stressed, “The clerics, elites, and intellectuals must have a unitary discourse that does not emit abhorrent sectarian or racist toxins. There is no truer opportunity for unity and love than belonging to the Great Messenger (may God bless him and his family and grant them peace), with all the values, morals, and virtues that he represents.” .

 

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To commemorate National Day, official working hours will be suspended on Tuesday next week

Yesterday, 18:16

 

Al-Ghad Press/Baghdad  

The Prime Minister, Muhammad Shiaa Al-Sudani, directed that official working hours be suspended next Tuesday in celebration of the National Day of the Republic of Iraq

A statement from the General Secretariat of the Council of Ministers, a copy of which was received by Al-Ghad Press, stated that “Al-Sudani directed the suspension of official working hours, on Tuesday, 10/3/2023, in all ministries and state institutions, in celebration of the National Day of the Republic of Iraq. ”

The Iraqi National Day is a day that was proposed in 2008 to be made a national day that falls on October 3, to celebrate the day of Iraq’s declaration of independence from the British Mandate and its accession to the League of the United Nations. That independence was on October 3, 1932, but that day was not considered by the Iraqi governments as a holiday. Nationally after the coup of the revolution of July 14, 1958, until April 9, 2003, when the American occupation took place.

 

[yota691]

The Council of Ministers issues a decision regarding the dollar, and the Sudanese government is confident of overcoming the dispute with Kuwait

• Time: 09/26/2023 20:39:17
•  
• Read: 5,317 times

  

{Politics: Al-Furat News} Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani chaired the thirty-ninth regular session of the Council of Ministers, during which developments in the situation in the country were discussed, the implementation of files related to various issues at the national level was followed up, and the progress of implementing the priorities of the government program, in addition to... Discussing the topics on the agenda and issuing decisions and recommendations related to them.

At the beginning of the session, Al-Sudani spoke about his participation at the head of the Iraqi delegation to the meetings of the United Nations General Assembly, which were held in New York, and the meetings that were held on the sidelines of this participation with a number of leaders and heads of state, and international and global organizations.
The joint understandings, agreements and statements that emerged from these meetings fuel the path of Iraq’s international cooperation and strengthen economic partnerships with brotherly and friendly countries.

The Prime Minister directed all ministries to work on following up on what was reached in this visit and activating bilateral agreements and joint understandings.

The Prime Minister also renewed the government’s commitment to international resolutions and the principles of good neighbourliness, and affirmed its keenness to overcome the dispute with the sister State of Kuwait, and to make efforts to find a solution to the issue of regulating navigation in Khor Abdullah, in a way that does not conflict with the Iraqi constitution and international law, indicating that such Crises are resolved through understanding and reliance on rationality, away from the language of emotion and convulsive populist statements that only produce more crises and tension. 

The Sudanese expressed his full confidence in the disappearance of this dispute, given the strong will of both sides, the Iraqi and the Kuwaiti, to resolve this issue through mechanisms of mutual understanding and dialogue.

In celebration of the National Day of the Republic of Iraq, the Prime Minister directed that official working hours be suspended on Tuesday, October 3, 2023, in all ministries and state institutions, on this occasion.

In the field of continuing financial and administrative reform steps, the Council of Ministers decided the following:

1 - Commitment that all state contracts executed inside Iraq will be in Iraqi dinars, except for those opened by an external documentary credit, in which case they will be according to the agreement between the two parties and for the value of the documentary credit only.

2- The Ministry of Planning will inventory all previous state contracts that were contracted in the US dollar currency, with the exception of those for which an external documentary credit was opened, and prepare a table of them, which will be sent to the Ministry of Finance and the Central Bank with the amounts of these contracts due, provided that the Ministry of Planning determines the upper limit. Monthly, the Central Bank must cover it in US dollars, according to the receivables received from the contracting parties. The Central Bank covers these receivables at an exchange rate of (1,320 dinars) for each US dollar, deposited in the account of the Ministry of Finance, for the purpose of covering the monthly payments to pay these contracts, according to the requirements. Work and exchange release orders that meet release controls.

3- Regarding Iraqi borrowers from government banks (including the Iraqi Trade Bank) in the US dollar currency, these banks are committed to repaying their loans at an exchange rate of (1,320 dinars) for every US dollar from the borrower, provided that the Central Bank covers these loans in US dollars and is repaid to the lending bank
. This procedure applies exclusively to loans made before the issuance of this decision.

The Council of Ministers also approved the recommendation of the Ministerial Council for the Economy (230204 Q) as follows:
1. The Ministry of Transport postpones claiming its debts related to flooring fees and fines incurred by the General Iron and Steel Company and reschedules them; Payment will be made when the aforementioned company’s factories are operational. 
2. The Ministry of Transport/The General Company for Ports of Iraq took all necessary procedures with the beneficiary parties and established a working mechanism that ensures the speedy removal of goods from the ports. To avoid fines or floor fees due to delays in issuing them.

As part of the Council’s follow-up of the energy sector, and progress in implementing paths of reform, development, and exploitation of gas wealth, 
the Council of Ministers approved the recommendation of the Ministerial Council for Energy (23083 for the year 2023) regarding the gas gathering and compression project in the Nasiriyah oil field, according to the following: Approval of the recommendation of the
 Central Committee for Review and approval of the referral. At the Ministry of Oil at its session held on August 6, 2023, regarding the request of Dhi Qar Oil Company, one of the companies of the Ministry of Oil, to approve the referral of the gas gathering and compression project in the Nasiriyah oil field under the custody of a coalition (the Oil Projects Company / the Ministry of Oil and the Italian PEG Company), in the amount of (272,000). (000) dollars only two hundred and seventy-two million dollars, which is higher than the estimated cost by (7.3%) according to the Dhi Qar Oil Company’s letter dated July 26, 2023.

With regard to the electricity sector, the Council of Ministers approved what was stated in the letter of the Ministry of Electricity dated September 4, 2023, regarding amending the sales contract by amending and renewing the contract related to the Iraqi-Jordanian electrical interconnection project, which was signed in 2019, to suit the new preparation period. And amending the terms and conditions, while maintaining the price equation contained in the energy sale contract, which includes the sale of electrical energy from the National Electricity Company in the Hashemite Kingdom of Jordan to the General Electric Power Transmission Company - Central Region / Ministry of Electricity, to purchase energy for a period of 36 months after completing the connection between the two stations. Al-Risha transformer in Jordan and Al-Qaim transformer station in Iraq with a voltage of 400 kV.

Within the affairs of the oil sector, completing the export infrastructure, and developing Iraq’s capabilities in this field, the Council of Ministers decided the following:
1. The Ministry of Finance placed a deposit with the Iraqi Trade Bank in the value of the total cost of the two marine pipelines project (4 and 5) and the new marine platform, amounting to (1,265,444,000). (000) dollars, which is included in the investment plan of the Ministry of Oil/Basra Oil Company for the year 2023.
2. The commitment of the Ministries of Planning and Oil to the total cost of the aforementioned project and the annual allocations within the investment budget of the Ministry of Oil for the years (2023, 2024, 2025, and 2026). 
3. The Ministries of Oil and Planning shall notify the Ministry of Finance/Accounting Department of the financing due to the contracting company according to the amount of achievement and the approved contexts, and the Ministry of Finance shall finance the company’s account from the deposit mentioned in Paragraph (1) above.
4. Cancellation of Cabinet Decisions (29 of 2020), (6 of 2021), and (83 of 2022).

In addition to following up on the provision of fortifications, requirements for security work and extending stability, the Council of Ministers decided to approve an exception to the contract for the implementation of the Misk Wadi Al-Tharthar project (purchasing cameras and concrete towers and establishing fortified points). From the direct contracting methods stipulated in the Instructions for Implementing Government Contracts (2 of 2014), and from the armament controls issued by the National Security Advisory regarding arming the security services, due to the tactical and strategic importance of the project.

The Council also decided to approve the issuance of the Air Defense Institute system, based on the provisions of the Defense University Law for Military Studies No. (4) of 2016, and the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

The Council continued to follow up on the implementation of agricultural plans, the implementation of methods to combat water scarcity and drought, and the adoption of modern methods of irrigation, as the Council of Ministers approved the recommendations of the minutes of the meeting of the joint permanent committee between the Ministries of Agriculture and Water Resources regarding the winter agricultural plan approved for the season (2023-2024), according to the following. : 
1. The Ministry of Water Resources’ commitment to the winter agricultural plan based on the forecasts of international meteorological centers.
2. The winter planting and seed distribution season will start on October 1, 2023, provided that the Ministry of Water Resources begins increasing water releases on November 15, 2023. 3.
Re-review the indicators of the winter agricultural plan during the period from November 15, 2023 until November 30. 2023.
4. Determine the areas covered by irrigation in the winter season according to the following:
    - The areas covered by irrigation through rivers and streams are one and a half million dunams.
    - The areas for which the water share will be secured through underground wells in the amount of four million dunams, on the condition that modern irrigation systems are used, and that negligent parties are held accountable and not included in the next agricultural plan when irrigation is used for irrigation.
5. Focusing agriculture on rivers and stream beds and preventing agriculture within the borders of marshes and floodplains in the governorates of Wasit, Maysan, Basra, Diyala, and Dhi Qar.
6. Granting interest-free loans to purchase modern irrigation systems (pivot, fixed, and drip systems) and solar energy systems.
7. Subsidizing the price of fuel for the Ministry of Water Resources and releasing the fuel quota to address water scarcity conditions.
8. Continuing the campaign to remove violations, especially the campaign to remove unauthorized fish lakes.
9. Forming joint committees from the Water Resources Directorates, Agriculture Directorates, Agricultural Committees, Farmer Associations, and Police Directorates in all governorates, and local governments, to follow up on farmers’ and peasants’ commitment to the irrigation areas approved in the plan above, and to hold violators legally responsible for their violations. The two ministries are not committed and are not responsible for considering or promoting any requests. Regarding compensation in the event that this happens, with setting bi-monthly meetings whose dates are agreed upon, in coordination between the directorates of the Ministry of Agriculture and the water resources directorates in all governorates.

Within the cultural aspect, the Council of Ministers approved the issuance of the third amendment to the system of musical studies institutes (10 of 1987), which was audited by the State Council, based on the provisions of the Constitution and Clause Three of Article (8) of the Ministry of Culture Law (17 of 2001), taking into consideration Submitting its curricula to the Ministry of Education/General Directorate of Curricula for approval.
The Council approved the issuance of the Second Amendment System to the System of the Baghdad School of Expressive Musical Arts (16 of 1985), which was audited by the State Council, based on the provisions of the Constitution and the provisions of the Ministry of Culture Law (17 of 2001).

Within the framework of cultural relations, the Council of Ministers approved the reopening of the Iraqi Cultural Center in the German capital, Berlin.

The Council also considered a number of files and issues presented on the agenda, and took the necessary decisions regarding them, as follows:

1- Giving the Ministry of Justice the authority to make an exception to the mechanism used in selection, and to contract with law firms, with fees commensurate with the value of the case, and for the committee composed of a letter from the General Secretariat of the Council of Ministers on September 12, 2023, to follow up on the arbitration decision in the Horus Company case, to unify legal, political and technical efforts. .

2- Approval of the Ministry of Foreign Affairs’ recommendation regarding the establishment of non-resident diplomatic representation with the Republic of Moldova, through our embassy in Bucharest, based on the provisions of Articles (25) and (26) of Foreign Service Law No. (45) of 2008, and the Vienna Convention on Consular Relations for the year/ 1963.

3- Approval of the Ministerial Council for Human Development’s recommendation (23028 B for the year 2023), according to the following:
Approval of the National Strategy for Suicide Prevention in Iraq (2023-2030).

[yota691]

Washington responds to Sudanese’s statements regarding the international coalition

• Time: 09/26/2023 23:01:02
•  
• Read: 7,280 times

  

{Politics: Al-Furat News} Washington confirmed, on Tuesday, that the presence of American forces in Iraq is something agreed upon with Baghdad, after statements by the Prime Minister, Muhammad Shiaa al-Sudani, that ISIS no longer poses a threat, and that Iraq no longer needs the international coalition.

US State Department spokesman Matthew Miller said in response to a journalist's question: "American forces are present in Iraq at the invitation of the Iraqi government to carry out the mission of providing advice, assistance and empowerment." 

Miller added: "Last August, we issued a joint statement with our Iraqi partners in which we stressed that we are there at their invitation, and therefore we intend to consult on a future process that includes the coalition to determine how the coalition's military mission will develop." 

He continued, "The Iraqi security forces are assuming command of ISIS's tasks inside Iraq and have demonstrated an increasing ability to confront this threat."

Prime Minister Muhammad Shiaa Al-Sudani said in a press interview he conducted with the American newspaper The National and published by his media office on Tuesday that “ISIS today does not represent a threat to the Iraqi state, and there is no longer a need for the presence of foreign combat forces,” noting that “during this month the joint committee will meet with The American side, we emphasize the bilateral relationship with the United States for security cooperation, and we are open in all fields.”

After the rise of ISIS in 2014, and its control over about a third of Iraqi territory, Washington established an international coalition to support Iraqi forces and Kurdish forces in Syria. 

In late 2021, Iraq announced the end of the “combat missions” of the international coalition, which is still present on Iraqi territory to perform advisory and training missions.

The coalition currently includes about 2,500 American military personnel, and about 1,000 from its member states, deployed in military bases under the command of Iraqi forces.

[yota691]

The Iraqi Council of Ministers issues a package of decisions within the framework of “financial reform”

2023-09-26 13:41

 

Shafaq News/ On Tuesday, the Iraqi Council of Ministers took several decisions within the financial reform program, while issuing instructions in the gas and electricity sector.

 

The media office of Prime Minister Muhammad Shiaa Al-Sudani stated, in a statement received by Shafaq News Agency, that the latter chaired the thirty-ninth regular session of the Council of Ministers, during which developments in the situation in the country were discussed, the implementation of files related to various issues at the national level was followed up, and the progress of implementing the priorities of the government program. In addition to discussing the topics on the agenda and issuing decisions and recommendations related to them.

 

At the beginning of the session, Al-Sudani spoke about his participation at the head of the Iraqi delegation to the meetings of the United Nations General Assembly, which were held in New York, and the meetings that were held on the sidelines of this participation with a number of leaders and heads of state, and international and global organizations, and the understandings and agreements that emerged from these meetings. Joint statements fuel the path of Iraq's international cooperation and enhance economic partnerships with brotherly and friendly countries.

 

Al-Sudani directed all ministries to work on following up on what was reached in this visit and activating bilateral agreements and joint understandings.

 

The Prime Minister also renewed the government’s commitment to international resolutions and the principles of good neighbourliness, and affirmed its keenness to overcome the dispute with the sister State of Kuwait, and to make efforts to find a solution to the issue of regulating navigation in Khor Abdullah, in a way that does not conflict with the Iraqi constitution and international law, indicating that such Crises are resolved through understanding and reliance on rationality, away from the language of emotion and convulsive populist statements that only produce more crises and tension.

 

The Sudanese expressed his full confidence in the disappearance of this dispute, given the strong will of both sides, the Iraqi and the Kuwaiti, to resolve this issue through mechanisms of mutual understanding and dialogue.

 

In celebration of the National Day of the Republic of Iraq, the Prime Minister directed that official working hours be suspended on Tuesday, October 3, 2023, in all ministries and state institutions, on this occasion.

 

In the field of continuing financial and administrative reform steps, the Council of Ministers decided the following:

 

1- Commitment that all state contracts executed inside Iraq will be in Iraqi dinars, except for those opened by an external documentary credit, in which case they will be according to the agreement between the two parties and for the value of the documentary credit only.

 

2- The Ministry of Planning will inventory all previous state contracts that were contracted in the US dollar currency, with the exception of those for which an external documentary credit was opened, and prepare a table of them, which will be sent to the Ministry of Finance and the Central Bank with the amounts of these contracts due, provided that the Ministry of Planning determines the upper limit. Monthly, the Central Bank must cover it in US dollars, according to the receivables received from the contracting parties. The Central Bank covers these receivables at an exchange rate of (1,320 dinars) per US dollar, deposited in the account of the Ministry of Finance, for the purpose of covering the monthly payments to pay these contracts, and according to the requirements. Work and exchange release orders that meet release controls.

 

3- Regarding Iraqi borrowers from government banks (including the Iraqi Trade Bank) in US dollars, these banks are committed to repaying their loans at an exchange rate of (1,320 dinars) for every US dollar from the borrower, provided that the Central Bank covers these loans in US dollars, and is repaid to the lending bank. This procedure applies exclusively to loans made before the issuance of this decision.

 

The Council of Ministers also approved the recommendation of the Ministerial Council for the Economy (230204 Q) as follows:

 

1. The Ministry of Transport postponed claiming its debts related to flooring fees and fines incurred by the General Iron and Steel Company and rescheduled them; Payment will be made when the aforementioned company’s factories are operational.

 

2. The Ministry of Transport/The General Company for Ports of Iraq took all necessary procedures with the beneficiary parties and established a working mechanism that ensures the speedy removal of goods from the ports. To avoid fines or floor fees due to delays in issuing them.

 

As part of the Council’s follow-up of the energy sector, and progress in implementing paths of reform, development, and exploitation of gas wealth, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (23083 for the year 2023) regarding the gas gathering and compression project in the Nasiriyah oil field, according to the following:

 

Approval of the recommendation of the Central Committee for Review and Approval of the Referral in the Ministry of Oil at its session held on August 6, 2023 regarding the request of Dhi Qar Oil Company, one of the companies of the Ministry of Oil, to approve the referral of the gas gathering and compression project in the Nasiriyah oil field under the custody of the coalition (Oil Projects Company / Ministry of Oil and Oil Company) Italian PEG), at an amount of only (272,000,000) dollars, two hundred and seventy-two million dollars, which is higher than the estimated cost by (7.3%) according to the Dhi Qar Oil Company’s letter dated July 26, 2023.

 

With regard to the electricity sector, the Council of Ministers approved what was stated in the letter of the Ministry of Electricity dated September 4, 2023, regarding amending the sales contract by amending and renewing the contract related to the Iraqi-Jordanian electrical interconnection project, which was signed in 2019, to suit the new preparation period. And amending the terms and conditions, while maintaining the price equation contained in the energy sale contract, which includes the sale of electrical energy from the National Electricity Company in the Hashemite Kingdom of Jordan to the General Electric Power Transmission Company - Central Region / Ministry of Electricity, to purchase energy for a period of 36 months after completing the connection between the two stations. Al-Risha transformer in Jordan and Al-Qaim transformer station in Iraq at a voltage of 400 kV.

 

Within the affairs of the oil sector, completing the export infrastructure, and developing Iraq’s capabilities in this field, the Council of Ministers decided the following:

 

1. The Ministry of Finance placed a deposit with the Trade Bank of Iraq in the value of the total cost of the two marine pipelines project (4 and 5) and the new marine platform amounting to ($1,265,444,000,000), which is included in the investment plan of the Ministry of Oil/Basra Oil Company for the year 2023.

 

2. The commitment of the Ministries of Planning and Oil to the total cost of the aforementioned project and the annual allocations within the investment budget of the Ministry of Oil for the years (2023, 2024, 2025, and 2026).

 

3. The Ministries of Oil and Planning shall notify the Ministry of Finance/Accounting Department of the financing due to the contracting company according to the amount of achievement and the approved contexts, and the Ministry of Finance shall finance the company’s account from the deposit mentioned in Paragraph (1) above.

 

4. Cancellation of Cabinet Decisions (29 of 2020), (6 of 2021), and (83 of 2022).

 

In addition to following up on the provision of fortifications, requirements for security work and extending stability, the Council of Ministers decided to approve an exception to the contract for the implementation of the Misk Wadi Al-Tharthar project (purchasing cameras and concrete towers and establishing fortified points). From the direct contracting methods stipulated in the Instructions for Implementing Government Contracts (2 of 2014), and from the armament controls issued by the National Security Advisory regarding arming the security services, due to the tactical and strategic importance of the project.

 

The Council also decided to approve the issuance of the Air Defense Institute system, based on the provisions of the Defense University Law for Military Studies No. (4) of 2016, and the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

 

The Council continued to follow up on the implementation of agricultural plans, the implementation of methods to combat water scarcity and drought, and the adoption of modern methods of irrigation, as the Council of Ministers approved the recommendations of the minutes of the meeting of the joint permanent committee between the Ministries of Agriculture and Water Resources regarding the winter agricultural plan approved for the season (2023-2024), according to the following. :

 

1. The Ministry of Water Resources’ commitment to the winter agricultural plan based on the forecasts of international meteorological centers.

 

2. The winter planting and seed distribution season will start on October 1, 2023, provided that the Ministry of Water Resources begins increasing water releases on November 15, 2023.

 

3. Re-reviewing the indicators of the winter agricultural plan during the period from November 15, 2023 until November 30, 2023.

 

4. Determine the areas covered by irrigation in the winter season according to the following:

 

- The areas covered by irrigation through rivers and streams are one and a half million dunams.

 

- The areas for which the water share will be secured through underground wells in the amount of four million dunams, on the condition that modern irrigation systems are used, and that negligent parties are held accountable and not included in the next agricultural plan when irrigation is used for irrigation.

 

5. Focusing agriculture on rivers and stream beds and preventing agriculture within the borders of marshes and floodplains in the governorates of Wasit, Maysan, Basra, Diyala, and Dhi Qar.

 

6. Granting interest-free loans to purchase modern irrigation systems (pivot, fixed, and drip systems) and solar energy systems.

 

7. Subsidizing the price of fuel for the Ministry of Water Resources and releasing the fuel quota to address water scarcity conditions.

 

8. Continuing the campaign to remove violations, especially the campaign to remove unauthorized fish lakes.

 

9. Forming joint committees from the water resources directorates, agricultural directorates, agricultural committees, agricultural associations, police directorates in all governorates, and local governments, to follow up on farmers’ and peasants’ commitment to the irrigation areas approved in the plan above, and to hold transgressors legally responsible for their transgression. The two ministries are not committed and are not responsible for considering or promoting. For any requests regarding compensation in the event that this happens, with bi-monthly meetings whose dates are agreed upon, in coordination between the directorates of the Ministry of Agriculture and the water resources directorates in all governorates.

 

Within the cultural aspect, the Council of Ministers approved the issuance of the third amendment to the system of musical studies institutes (10 of 1987), which was audited by the State Council, based on the provisions of the Constitution and Clause Three of Article (8) of the Ministry of Culture Law (17 of 2001), taking into consideration Submitting its curricula to the Ministry of Education/General Directorate of Curricula for approval.

 

The Council approved the issuance of the Second Amendment System to the System of the Baghdad School of Expressive Musical Arts (16 of 1985), which was audited by the State Council, based on the provisions of the Constitution and the provisions of the Ministry of Culture Law (17 of 2001).

 

Within the framework of cultural relations, the Council of Ministers approved the reopening of the Iraqi Cultural Center in the German capital, Berlin.

 

The Council also considered a number of files and issues presented on the agenda, and took the necessary decisions regarding them, as follows:

 

1- Giving the Ministry of Justice the authority to make an exception to the mechanism used in selection, and to contract with law firms, with fees commensurate with the value of the case, and for the committee composed of a letter from the General Secretariat of the Council of Ministers on September 12, 2023, to follow up on the arbitration decision in the Horus Company case, to unify legal, political and technical efforts. .

 

2- Approval of the Ministry of Foreign Affairs’ recommendation regarding the establishment of non-resident diplomatic representation with the Republic of Moldova, through our embassy in Bucharest, based on the provisions of Articles (25) and (26) of Foreign Service Law No. (45) of 2008, and the Vienna Convention on Consular Relations for the year/ 1963.

 

3- Approval of the recommendation of the Ministerial Council for Human Development (23028 B of 2023), according to the following:

 

Approval of the national strategy for suicide prevention in Iraq (2023-2030).

[6ly410]

A reading of the decision of the Council of Ministers to limit contracts to dinars. Will it change the exchange rate or the value of the contracts?

Economy | Today, 18:13 | 

    A reading of the decision of the Council of Ministers to limit contracts to dinars. Will it change the exchange rate or the value of the contracts? » Baghdad News Agency (baghdadtoday.news)

 

Baghdad Today - Baghdad

In a step that will not be applied to contracts after the decision of the Council of Ministers, but goes beyond its application "retroactively", came the decision of the Council of Ministers to limit state contracts with companies, whether foreign or local, to Iraqi dinars only, and to apply it even old contracts, in a step that raised questions about their dimensions and effects, whether on state contracts or on the exchange rate.

The Iraqi government and the Central Bank of Iraq continue to take various decisions and measures in an attempt to control the exchange rate of the dollar against the dinar, in a war that has been going on for 10 months, where exchange rates are witnessing an unprecedented rise due to illegal speculation as described by the Central Bank of Iraq.

Ending Dollarization

Nabil Al-Marsoumi, an expert in economic and financial affairs, during an interview today, Wednesday (September 27, 2023), with "Baghdad Today", explained that "the Iraqi government has taken many steps during the previous period, and is still working on new steps aimed at limiting local dealing to the Iraqi dinar, and the last decision was obligatory for the state contracts implemented inside Iraq to be in Iraqi dinars."

He pointed out that "this step is with the aim of ending the "dollarization phenomenon", that is, limiting all transactions to the local currency, of course this matter has any impact on the issue of reducing the price of the dollar in the local market or its rise, this matter depends on the issue of finding solutions in order to make legal and legitimate remittances to Iran instead of black remittances that are paid through the funds of various imports.

 

An attempt to strengthen the dinar

A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, told Baghdad Today that "the Iraqi government wants, through such steps, to strengthen the Iraqi dinar and limit local dealing to the national currency, and this is what strengthens and strengthens the dinar, and this is followed and applied to all countries that accompanied the strong economy."

Al-Kazemi indicated that "such a step will certainly contribute to the issue of reducing the exchange rate of the dollar in the local market, as such steps will reduce the need to demand the dollar, because dealing will be in the Iraqi dinar, and for this citizen will abandon the dollar as long as dealing is limited to the national currency, and this is the case for companies operating in the government or private sectors."

A "moral" step but... Does the value of contracts change?

The Council of Ministers decided, on Tuesday, in a step towards financial and administrative reform, to commit that all state contracts implemented inside Iraq be in Iraqi dinars, except for what opens an external documentary credit, so they are according to the agreement between the two parties and the value of the documentary credit only.

While observers believe that this step will lead to raising the prices of the dollar based on the fact that the government will pay the dinar to companies, which in turn will look to buy and convert money into dollars.

However, others underestimate the importance or extent of the impact of the step on the exchange rate, as the state will eventually pay the dues of these companies and contracting parties in dollars by the Central Bank, as stipulated by the decision of the Council of Ministers, considering that this decision has a "moral side" only in favor of the dinar, i.e. making the numbers on the contract papers in Iraqi dinars only, but the payment of companies' dues will be in dollars and by the Central Bank directly.

Experts believe that this decision will have one negative side when any future change in dollar prices occurs, as the value of projects, especially those implemented for many years, will be evaluated in dinars according to the current exchange rate, and any change in the exchange rate by the state during the next few years, will change the cost of projects.

[horsesoldier]

Time to form a committee!!!

[6ly410]

?

[6ly410]

another useless comment from you. 

[6ly410]

u better stop laughing at my articles - maybe u should start looking for news articles? 

[jg1]

34 minutes ago, horsesoldier said:

Time to form a committee!!!

So true. So many people have humor when it comes to guru spew, When it comes to humor, you take the cake. Keep it coming. As far as the article you posted to- 6ly410. Go RV!

[horsesoldier]

52 minutes ago, jg1 said:

So true. So many people have humor when it comes to guru spew, When it comes to humor, you take the cake. Keep it coming. As far as the article you posted to- 6ly410. Go RV!

Thanks, apparently I've upset someone in here by posting a laughing icon to a news article.... that's a bit much.

I'm not laughing at the individual but rather to the content which I found a tad bit funny considering all we've seen over the decades: seems like the rodeo never ends. 

Oh well, too right...Go RV !!! Gotta laugh at a lot of this marathon investment, don't you: all the while remembering what's at the end of the rainbow. Our own pot O Gold.

All the best 

[3n1]

12 minutes ago, horsesoldier said:

Gotta laugh at a lot of this marathon investment

You know it .... back when shabbs was heading up the cbi and quiet a bit of financial news was rolling out weekly  i took it all more serious for sure , myself along with many,  im guessing , have a pretty good chunk of cash involved still but as years come and go the excitement diminishes to an extent ... a sense of humor is a good virtue to have ... cheers HS 

[screwball]

4 hours ago, 6ly410 said:

will be evaluated in dinars according to the current exchange rate, and any change in the exchange rate by the state during the next few years, will change the cost of projects.

Remember the rate proudly displayed on the MOP website for contract tendering? Around the 1.20 mark?

[screwball]

4 hours ago, 6ly410 said:

He pointed out that "this step is with the aim of ending the "dollarization phenomenon", that is, limiting all transactions to the local currency

 and the auctions end….I remember some saying when the auctions end its rv time….so many guru bs

[screwball]

4 hours ago, 6ly410 said:

He pointed out that "this step is with the aim of ending the "dollarization phenomenon", that is, limiting all transactions to the local currency

 and the auctions end….I remember some saying when the auctions end its rv time….so many guru bs

[screwball]

The transitional plan for the new Iraqi dinar has always been to return the rate to the rate in the 1970’s

[screwball]

How we get there is anyones guess….

[Half Crazy Runner]

16 minutes ago, screwball said:

The transitional plan for the new Iraqi dinar has always been to return the rate to the rate in the 1970’s

Do you know what that rate was…? 

[Spartakus]

6ly410, most of us appreciate greatly the hard work that you're doing posting these articles. Thank you very much!!!

[gregp]

35 minutes ago, Spartakus said:

6ly410, most of us appreciate greatly the hard work that you're doing posting these articles. Thank you very much!!!

Amen