BondLady’s Corner

  In Bondlady’s Corner

Iraqi News and Highlights Monday AM 7-20-20

TLM724 Administrator BondLady’s Corner

The Three Presidencies Hold A Meeting To Discuss The Overall Situation In The Country

7/19/2020  Speaker of Parliament Muhammad al-Halbousi attended this three-day meeting of the three presidencies at the Baghdad Palace Sunday

The meeting examined the latest results of the health situation in light of the Corona pandemic, as well as the overall political, economic and security developments in the country.

It was stressed the importance of health authorities to continue to provide treatment requirements and examinations, and to develop the capabilities available to hospitals and places of health isolation, in a manner that secures the provision of the best treatment services to citizens.

In this context, the meeting expressed great appreciation for the spirit of human and national sacrifice made by the medical and nursing staff and from all workers in the field of providing curative and preventive service. The meeting also stressed the importance of responsible work that the citizen and the Iraqi family can undertake through strict adherence to instructions Preventive health, which helps to create symbiotic health relations between citizens and health authorities.

During the meeting, various possible ways were discussed to overcome the effects of the current financial situation on the lives of citizens, particularly social classes with limited income and capabilities, and in a way that helps to provide services, mainly in the health field, and to sustain the movement of life and the market.

The meeting also praised government measures keen to secure the diversity of national income sources and strive to limit the rentier nature of the economic and financial system. In this context, the meeting affirmed highly appreciated the government measures taken to control border ports and ports, control work procedures therein, root out corruption and spoilers in a manner that preserves public money and the national economy It confirms the sovereignty of the state and the force of law.

In the security field, the meeting examined with special interest the ongoing security, intelligence and military measures in order to continue the war on terrorism and eliminate its outposts and its sleeping and active cells.

The Prime Minister, Mr. Mustafa Al-Kazemi, presented to the meeting the two programs of his upcoming visits to the Kingdom of Saudi Arabia and the Islamic Republic of Iran. Where the importance of relations between Iraq and the two neighboring countries was emphasized and keenness to develop them in a way that enhances constructive cooperation in various fields, in a way that secures the interests of the peoples in the region and contributes to creating a regional environment based on good understanding and observance of national sovereignty and consolidating the enhanced understanding of security, peace and progress for the region.

The meeting noted that Iraq’s cooperation with its brothers and neighbors will help in rebuilding and improving the economy.

The meeting discussed the necessity of working hard and diligently to create the potential for early elections and setting a date for holding them in light of the pledges and commitment to responsibility before the people and their demands, and the speedy completion of the amendments of the law necessary to achieve free, fair and fair elections that respond to the popular democratic will.

In the context of the legislative and supervisory work, the meeting discussed the upcoming legislative program for the House of Representatives, and the presidencies confirm their full support for the investigative committee’s efforts in the electricity sector, access to the causes of deterioration in this sector, and accountability for negligence.

The conferees emphasized the national project in support of the capable and sovereign state, capable of protecting the rights of the citizen, the security and sovereignty of the country, and at the meeting various measures were discussed, at various levels, necessary to enhance the role of the state and establish its sovereignty.

It was also stressed the need to continue the work and measures that would enhance the national partnership and achieve a national balance according to the constitution to consolidate the principles of the state of citizenship and the rule of law.

The meeting also dealt with the relationship between the federal government and the Kurdistan Regional Government, and it was stressed the need to work for practical measures that contribute to resolving outstanding issues, and in a way that secures the rights of citizens without discrimination and according to the constitution, and consolidates responsible national understanding.  LINK

A Representative Delegation Visits The Special Representative Of The Secretary-General Of The United Nations

7/20/2020 On Sunday 7/19/2020, a representative delegation headed by Dr. Gyan Sabri and membership of deputies, Dr. Nasser Harki and Muhammad Amin Fares, visited the Special Representative of the Secretary-General of the United Nations in Baghdad, Mrs. Jenin Balshart to discuss the central issues and important developments in Iraq and the Kurdistan region.

The delegation praised the role of the United Nations in bringing closer views and promoting dialogue to solve problems between the Kurdistan Regional Government and the federal government, which is in the best interest and for the stability of Iraq and the region, as the delegation called for a greater role from the United Nations representative in order to enhance joint cooperation to solve problems between the region and the federal government and according to the Iraqi constitution .

The delegation also appreciated the efforts of the United Nations in supporting the displaced and reconstruction and supporting the efforts of Iraq and the Kurdistan region in facing political, economic, health and security challenges and national reconciliation.

For her part, Mrs. Blackshart talked about the importance of political will, common understanding and sustainable dialogue to resolve outstanding issues and the role of the House of Representatives in approving legislation and laws supporting the solution of issues, including the oil and gas law and other laws that support the provisions of the constitution.  LINK

The House of Representatives,the Information Circle,20/7/2020


July 20-2020  Prime Minister Mustafa al-Kazemi received solidarity and fraternal reaction to the report that the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud was exposed to an urgent health problem and then entered the hospital for some tests, calling upon God to speed up his majesty.

With a prior date for the visit of Prime Minister Mustafa Al-Kazemi to the sisterly Kingdom of Saudi Arabia, it was decided to postpone the visit to the earliest possible date agreed upon by the two sides.

In his phone call with His Highness, Crown Prince Mohammed bin Salman, his Excellency affirmed his warm wishes to the Custodian of the Two Holy Mosques for the good health and safety and the brotherly Saudi people for their continued prosperity and peace.

Media office of the Prime Minister  20 – July – 2020

International Agency: The Debt Of The Gulf States Will Rise In 2020

Praatha News Agency18 2020-07-20  Standard and Poor’s expected, on Monday, that the governments of the Gulf states will increase their debt by a record $ 100 billion this year, in light of the growing funding requirements due to the Corona crisis and low oil prices.

“Based on our macroeconomic assumptions, we expect the budgets of the governments of the Gulf Cooperation Council to see a deterioration until 2023,” the agency said in a statement.

She added that “the central governments of the Gulf Cooperation Council countries will record a combined deficit of about $ 180 billion this year.”

The Private Sector In Iraq .. Problems And Solutions

Monday 20 July 2020  121   Dr. Silwan Francis Yusuf is not hidden from one of the important vital role that the private sector was playing in Iraq in the fifties and early sixties and its contribution to the economic and urban renaissance in Iraq, which we can monitor its achievements to this day,

but it was exposed to several major challenges, the first of which was nationalization In 1964 issued by the Iraqi government at that time and nationalized the major industrial and commercial companies leading in its fields at the level of the Middle East to limit the import of all materials and products to government companies and nationalized Iraqi private banks that were an effective tool in stimulating the economic movement to reduce the banking sector to Rafidain Bank.

Then came the biggest paralysis in light of the previous regime since 1968, when all kinds of imports of cars, equipment, food, medicine, machines and various equipment were limited to new government companies.

In the nineties of the last century, and in light of the unjust blockade, the government allowed private sector companies to supply various materials to state departments in a limited manner due to the blockade and the lack of resources Finance.

After 2003, successive Iraqi governments have claimed from that time until now to apply the market economy and strengthen the private sector, but the challenges came from all directions of this vital sector, which must be the focal point for developing the economy.

Without it, the Iraqi economy will remain lame, based on one man, which is selling oil, and the Iraqi economy will remain rentier Unable to move from time to time.

The negative effects on the private sector came from different sides until sometimes I got to put bumps in his walk and other times to humiliate or put the stick in the wheels in order for me to arm in different ways, and to highlight the negatives facing the private sector and how to overcome them, I will point out To the following aspects:

Companies and government departments

The companies and government departments are the customer and the first buyer of materials and services in Iraq because the rest of the economic sectors such as agriculture, industry and others are almost paralyzed, so any disruption in the government sector will directly affect the private sector that employs millions of employees and workers and will be Negatively.

During the previous years, great pitfalls occurred as a result of the collapse of oil prices, sectarian warfare, the ISIS invasion of many provinces, and finally the Corona pandemic, which introduced people and the Iraqi economy to the recovery rooms.

Today, I do not want to discuss how we can develop the Iraqi economy because there are many experts who have written many professional studies and the current government should discuss these studies with its authors to reach the most effective economic solutions.

But I would like to refer here to the negatives that companies and government departments deal with the raging Iraqi private sector and other things that discourage this vital sector from performing Currency .

  • Local and external tenders

Private sector companies participate in many domestic and foreign tenders, which are announced by companies and government departments throughout the year. The first problem is the committees’ delay in the analysis, as this sometimes extends to months and years, and when the contract is awarded to one of the competing companies, the prices have risen or the model has changed..etc.

When processing there are many abuses to which the supplier or contractor of employees in the sector is exposed. Governmental, ports, customs, control, etc. The big disaster is when spending the money to the supplier or contractor. The arm comes to me from corrupt employees and so on embolden.

The things that hinder the work in the government sector are corruption, lack of professionalism, permanent employee change, poor educational level or experience, bureaucracy and prolonged routine in a way that makes private sector companies in permanent aversion to dealing with the government sector.

  • Governmental and private banks

Private sector companies all over the world depend on the various banks for financing and providing services to them to work on implementing the contracts they have in their possession only in Iraq, Iraqi and foreign banks operating in Iraq. Its work focuses on buying the dollar from the Central Bank of Iraq and selling it at attractive prices that will help it dispense with work and provide other banking services, which led to the reluctance of banks in Iraq to cooperate with private sector companies.

The role of the Central Bank of Iraq is important in urging banks to cooperate with the private sector, in order to contribute to the development of the Iraqi economy by providing all types of banking services at acceptable costs so that suppliers and contractors can perform their work in the best way.


Taxes on private sector companies in Iraq are strange, as they enter the field of randomness and selectivity, as they are not on firm foundations as is the case in other countries, not to mention corruption among a number of employees who work for their pockets more than their interest in collecting taxes for the state. Likewise, taxes on private sector companies are increasing significantly annually, which cripples their movement in the market and their inability to pay such taxes due to lack of financial resources.   LINK

Basem Antoine To {Al-Sabah}: The Government Is Serious About Supporting The Private Sector

Monday 20 July 2020  86  Baghdad / Hussein Faleh  Specialists believe that the Iraqi economic affairs, that the Prime Minister’s vision of supporting the private sector, creating the actual partnership between the public and private sectors and implementing real reforms that will maximize financial resources and advance the national product, in what they called for the need to legislate laws that support the private sector, and stressed the importance of fighting corruption and eliminating red tape and bureaucracy To create an attractive investment environment.

The economist on behalf of Antoine said in a statement to “Al-Sabah”: “The government has a serious intention to support the private sector and its contribution to the process of economic development, as it has the components of success in various industrial, agricultural, political and transportation sectors,” noting that “the private sector is the main pillar In the process of economic construction, because its productivity may be more than twice the productivity of the public sector in the process of construction and development. ”

Strategic projects

Prime Minister Mustafa Al-Kazemi has visited the holy city of Karbala to open strategic projects that serve the city.

He said in a tweet posted on Twitter, “My gratitude and gratitude to the sincere Karbalians who carried me love and welcome, adding responsibility to me, our people will triumph over corruption and waste.” The Governor of Karbala, Nassif Al-Khattabi, confirmed that Prime Minister Mustafa Al-Kazemi promised to support the projects of the province, adding that “the Prime Minister’s visit to Karbala is an important step for the completion of the projects that are completed and faltering and that need support to complete them.”

And that “Al-Kazemi was acquainted with the projects of sacred thresholds, the mechanism of partnership work between the local government and the thresholds, and the mechanism of activating the private sector.”

He pointed out that “the Prime Minister promised to support the projects of the province, and give them important powers, especially as he directed the cancellation of projects that are lagging behind investment projects, especially those that have a great relationship with the service of citizens and that have long been neglected.”

White paper

Antoine added: “The white paper presented by the Prime Minister clearly indicated the need to support the private sector and its contribution to the development process, and that the Prime Minister’s ongoing meetings with representatives of the private sector mean that there is great interest on the part of the government in this important sector.”

He pointed out that “the private sector suffers from several problems, the most important of which is the political decision’s control over economic work, as well as political beneficiaries constitute a stumbling block to the advancement of this sector, stressing that the Iraqi environment is still repelling domestic and foreign investment and also laws, blackmail, red tape and bureaucracy still dominate the state apparatus.” “.

Discontinued projects

Antoine explained: “The contribution of the private sector requires the presence of competent and professional experts and consultants in the cabinet, in addition to eliminating corruption, which is also a stumbling block to the progress of the private sector.”

He pointed out that “the government started correct steps by placing its hand on the border outlets and preventing blackmail in them, which is an important aspect of economic reform, calling for support to the private sector to become productive rather than consumption or import.”

He stressed that “there are more than 50 industrial projects stalled due to the lack of means of support for this sector, pointing out that” the capabilities of the private sector are unlimited, but it contracted due to the lack of real support for it.

An important step

Member of the Baghdad Economic Forum, Jassem Al-Aradi, pointed out that “the Prime Minister’s orientation towards multiple resources by activating the private sector and partnering with him, represents an important step on the path to a real multiplication of financial resources that can be reached in a country that has a large market for work, production and demand for production.”

The two sectors partnership

For his part, the expert in industrial affairs, Abdel-Hassan Al-Shammari asserted that the government’s support for the private sector will create a major economic development process in the country, pointing out that supporting the private sector and creating a true partnership between the two sectors needs a serious economic vision by the government.

Al-Shammari told Al-Sabah that the first and basic touches should be put in place to build the private sector, stressing that there is no need to create cooperation between the public and private sectors, because the public is responsible and its tasks and production are different from the private sector.

Support to the private sector

Al-Shammari indicated that “the private sector differs from the public sector in terms of its small and medium enterprises, stressing the need to support the private sector by providing goods and services to citizens.”

He continued: “The private sector has retreated a lot since 2003 and the state did not play its real role in order to build it, but relied on oil resources for development, pointing out that the emergence of the Corona pandemic and the decline in oil prices led to the government’s tendency to support the private sector in order to provide job opportunities.” “.

He stated that “the private sector needs moral and financial support by spreading awareness and supporting it by the media as well as from the government by granting loans at prices Soft. ”  LINK

Dual Borrowing And Financial Reform

Monday 20 July 2020  144  Yasser Al-Metwally  I do not know whether it is a coincidence that the internal and external borrowing coincides with the Finance Minister’s pledge to present his reform paper during the same time period of three months for the sufficiency of borrowing to cover the operational budget and its most important vocabulary.

Well, whatever this coincidence or agreement, the argument for borrowing and paper is very close.

The question: What if the price of a barrel of oil does not exceed fifty dollars? Contrary to expectations of improvement during the prescribed period, and I mean the three months of this challenge, which God forbid will occur, what is required is to give the government an opportunity to implement financial reforms and it is based on a tangible reality with steps to prepare the paper without interference and waiting for discussion and approval by Parliament because that will not help fortune to achieve goals Reform, the most prominent of which is to replace the oil price deficit by providing the operational budget first and then harnessing oil resources to revitalize the productive income-generating sectors and paying the value and benefits of borrowing.

Providing the government with an opportunity to quickly act and implement reforms is conditional upon having presented the stages of reforms in a transparent, transparent, and engaging implementation-related body, especially the private sector, by discussing the steps first


Some people may ask, and what is the relationship of these to that, I say, yes, it has a close relationship because the stakeholders know their ability in the implementation or not, and so we can overcome the challenges immediately, not waiting for them to happen.

Then, experts and experts in the homes of expertise have the ability to enrich the reform paper, as I believe, because a ministerial committee, whatever its strength, cannot cover the challenges.

Accordingly, and in this case, he suggested to the government to organize 3-6 seminars, conferences or rectangular tables, name it whatever you want, and involve the relevant authorities and specialization in them to listen to their opinions to come out with a white reform paper that is not tainted by any dust, at the rate of one or two sessions per month over the months specified for the completion of the paper. .

This is my humble reading. I put it in front of everyone. You have the option to adopt our proposal, and we and you are waiting for the results. May God make a decision that was written.  LINK

To read more current and reliable Iraqi news please visit BondLady’s Corner: