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Iraqi News and Highlights Sunday PM 8-9-20

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Dollar Exchange Rates In Iraq Today

Time: 08/09/2020 09:03:16 Read: 7,397 times   {Baghdad: Al Furat News} Today, the foreign currency markets in Iraq recorded a stable exchange rate of the US dollar against the Iraqi dinar.

The prices of buying and selling dollars in exchange companies and offices were as follows:

The selling price of one dollar was 1240 dinars, or 124 thousand dinars for one hundred dollars.

The purchase price of the dollar is 1230 dinars, or 123 thousand dinars for one hundred dollars.  LINK

The Experience Of The Central Bank And The Economic Reform Law

Economic and Banking Adviser Samir Al-Nasiri   Articles  Samir Al-Nassery *

Information and media statements indicate that the Iraqi parliament is still insisting that the government present its plan for comprehensive economic reform for the next stage in the form of a law for economic reform to be submitted to the council within 60 days, more than half of which have passed.

The information also indicates that the financial reform cell formed in the Council of Ministers has been working for two months on developing plans and studies and discussing the main foundations and observations to overcome the economic crisis and preparing the 2021 budget and is trying to draw its plan for economic reform in implementation of the request of the House of Representatives.

I believe that for the government to form a cell for economic reform with the aim of presenting, discussing and studying Iraq’s economic problems and finding solutions and successful remedies for radical and comprehensive reform, the experience of the Central Bank of Iraq during the post-2015 economic and security shocks has proven its success in supporting the national economy and its attribution in overcoming the crisis of falling prices Global oil, and ISIS’s occupation of a third of Iraq after mid-2014.

The Central Bank of Iraq continues its approach to stimulating the national economy during the years 2016-2020 in accordance with its strategy, building capabilities and developing the banking sector in order to move to the developmental role and contribute to financing investment and reconstruction projects and to continue to maintain the stability of the exchange rate as the main achievement of policy implementation Cash is one of its important goals, which has positive implications for revitalizing the economy and achieving stability in the monetary system and the financial system, based on working on the government’s call to diversify sources of revenue, not relying on oil as a primary source of revenue, and not encouraging and supporting domestic production. Because the reason is not the supply but the demand for the dollar for the above reasons.

It also requires the government to take advantage of the bank’s strategy for the next five years to implement 21 projects to develop and develop the banking business after it was able to achieve most of the main and subsidiary objectives of its first strategy for the years (2016-2020), which became possible to start the process of achieving the full objectives of monetary policy and moving to The global ranks of the sober banks, certified by specialized international financial organizations.

One of the strategic banking projects, whose objectives and future impact have been determined according to a timetable for each project, the implementation periods and reaching the goal are limited during the years (2019-2023), are development projects related to achieving financial inclusion, such as salary domiciliation and projects of restoring confidence in the banking sector, such as a deposit guarantee company project and projects for structural development Administrative and legal, such as the Governance Guide project, projects for training and qualification, capacity building, classification of banks, and projects to move banks from the role of banking to contributing to development, such as the combined Islamic finance project.

It must be noted here that although the bank has started planning for these projects since 2016, it is also committed to what is stated in the government curriculum, as far as the banking sector is concerned, and what the National Development Plan (2018-2022) targeted and Iraq 2030 vision.

The central bank’s emphasis on working according to the approach it has adopted to achieve economic reform since 2015 is the consolidation of a fact that the Central Bank and its current management embodies a bright spot in an unstable economic environment for subjective and objective reasons, the most prominent of which is the experience of the Central Bank in supporting the national economy while maintaining its functions And its objectives specified in its law, and its contribution to achieving economic steadfastness and strengthening the decisive victory over terrorism.

In addition to the results achieved on the scope of monetary policy applications domestically and convincing international financial organizations, the most important of which is the official reports issued by them, confirming the success of the central bank’s policy in achieving an important transition for the Iraqi economy.

In addition to its numerous contributions and initiatives to revitalize the economic cycle and enhance liquidity at banks, to reach a re-extension of coordination bridges between the fiscal and monetary policies, and to propose new economic and structural policies to prepare public budgets for the coming years on the basis of programs rather than items and attempts to restore confidence in the banking system.

The Central Bank has demonstrated its clear ability to interact, analyze obstacles to work and create conditions to overcome challenges, and due to the exceptional efforts made by the bank, the last of which was the re-deduction of 8 trillion dinars for the purpose of financing and enabling the government to pay the salaries of employees, retirees and social care.

I invite the government to interact with the bright points and experiences of the Central Bank and to enrich them with their ideas, visions and proposals to build a solid national economy.   * Economic and banking advisor

Number of observations 85 Date added 08/08/2020  https://economy-news.net/content.php?id=21343

A Mass Demonstration Of Those Holding Higher Degrees And Closing The Entrances To The Green Zone In Central Baghdad

Sunday 09, August 2020 16:47 | GeneralViews: 60  Baghdad / NINA / Hundreds of graduates and holders of higher degrees demonstrated in the center of the capital, Baghdad, calling on the government to find real radical solutions to end their suffering and provide job opportunities in state departments and institutions.

The security forces closed the entrances to the Green Zone from the side of the Salhiya neighborhood and the Ministry of Foreign Affairs, in conjunction with the increasing number of demonstrators and their crossing the Al-Sinak Bridge, and closed a number of other main streets in front of the movement of vehicles. / End 5  http://ninanews.com/Website/News/Details?Key=848730

Among 186 Countries, Iraq Ranked 181 With The Level Of Economic Freedom

Sunday 09, August 2020 11:26 | EconomicalViews: 124  Baghdad / NINA / The American Heritage Foundation, which is concerned with measuring the level of economic freedom in countries around the world, announced that Iraq ranks 181 out of 186 countries.

According to the report published by the Foundation for the year 2020, “Iraq ranked 181 in terms of economic freedom out of the 186 countries listed in the table, and thus it ranks sixth to last, Rolling Eyes ahead of Libya, Liechtenstein, Somalia, Syria and Yemen.”

She added, “Singapore ranked first in economic freedom with a score of 89.4, followed by Hong Kong with a score of 89.1, and then New Zealand ranked third with a score of 84.1.”

It indicated that it “relied on its classification on twelve factors to measure the economic freedom of these countries, related to four main aspects of the economic environment, which were classified from 0 to 100, and its average to determine the degree of the state, which is the rule of law (property rights, government integrity, judicial effectiveness), size of government ( Government spending, tax burden, financial health), organizational efficiency (business, employment, and monetary freedom), open markets (trade, investment, and financial freedom). ”

She explained: “The focus of the Economic Freedom Index means that individuals should be free to work, consume and invest without restrictions,” indicating that: “If poverty, disease and ignorance are declining in all regions, then this is largely due to the widespread adoption of economic policies.” More advanced and transparent. ” / End 3   http://ninanews.com/Website/News/Details?key=848652

Parliamentary Committee: The Continued Striking Of The National Product Without Any Restrictions … Raises Many Question Marks

Sunday 09, August 2020 10:34 | EconomicalViews: 129  Baghdad ( NINA ) – The Parliamentary Committee on Agriculture, Water and Marshlands called on the government and its concerned agencies to quickly uncover the saboteurs of the national agricultural and animal product.

The head of the committee, Salam Al-Shammari, said in a statement that the Iraqi National News Agency ( NINA ) received a copy of it: “The lack of speed in the governmental procedures regarding the operations of burning farms, the death of fish, and the flooding of the local market with imported products full of similar locally, raises many signs of question and surprise.”

Al-Shammari added, “The latest criminal operations are killing hundreds of tons of fish without the government, and before it, the similar operations that took place last year, who were involved in it.”

He stressed: “Continuing the sabotage operations without deterrence will strike the national product and self-sufficiency in the products and crops with which we have reached complete self-sufficiency, serving for internal and external goals and agendas that do not want Iraq to stand on its feet and depend on its local production.” / End 3   http://ninanews.com/Website/News/Details?key=848640

The House Of Representatives Sends A Letter To Its Employees And Invites Them To Prepare For The Parliamentary Sessions

Political  Sunday 9 August 2020 | 04:59 pm| Views: 50  The Presidency of the Council of Representatives sent a letter to the parliament’s employees calling on them to prepare for the convening of Parliament sessions to approve the important laws related to early elections

A member of the Committee for Planning and Follow-up of the Parliamentary Government Program, a deputy for the Al-Fateh Alliance, Muhammad Al-Baldawi, said, “The Presidency of the House of Representatives has sent a letter to the administrative council’s employees asking them to attend and abide by the time in preparation for the resumption of Parliament sessions .”

He added that “the coming sessions are necessary to revitalize the Council and monitor the performance of the current government, as well as arranging the legislative conditions for early elections .”

Al-Baldawi pointed out that “the amendment of the parliamentary elections law and the Federal Court has become an urgent matter, as it cannot be postponed further,” pointing out that “everyone wants to go to early parliamentary elections legally .”  https://aynaliraqnews.com/index.php?aa=news&id22=137179

Al-Kazemi Discloses His Financial Disclosure For The Year 2020

11:58 – 08/09/2020  The information / Baghdad ..The Prevention Department of the Federal Integrity Commission revealed, on Sunday, that the Prime Minister, Mustafa Al-Kazemi, disclosed his financial liability for the year 2020.

The department said in a statement that the information received, a copy of it, that it “received a disclosure form for the current year The Prime Minister, Mr. (Mustafa Al-Kazemi) ”.

At the end of the past year, the Commission disclosed the details of the first amendment to its enforceable Law No. 30 of 2011, after the Parliament approved the amendment, in accordance with the provisions of Clause I of Article 61 and Clause Three of Article 73 of the Constitution, as Article 16 indicated. First / c), to oblige each of (the prime minister and deputy prime minister, ministers and those of their rank), as well as others who occupy one of the official positions and positions as contained in the article in its other paragraphs, to submit a declaration of their financial assets. End / 25

https://www.almaalomah.com/2020/08/09/489109/

Economist: Iraq Has An Untapped Paper To Maximize Its Imports In The Budget

08:30 – 09/08/2020  Information / Special …Between the economic expert, Wissam Al-Tamimi, that Iraq has an untapped trump card to maximize budget imports and fill the deficit in it, pointing out the importance of resorting to gas fuel as an ideal solution to maximize imports.

Al-Tamimi told “the information”, “The project to connect the automobile gas system has achieved remarkable successes and praise from vehicle owners, because of the cheap price of fuel.”

He added that “the Ministry of Oil should increase gas fuel stations and use it optimally instead of burning it in the air and polluting the environment.”

He stated that “the traffic directorate’s move to oblige vehicle owners to connect the gas system may cause discomfort and discomfort, and it is better to increase gas fuel stations and then properly promote it in order to take it as a resource that supplies the budget in billions and contributes to closing the budget deficit significantly, and exporting the benefits from it to countries Europe, especially since its cars run on gas fuel. ” 25 n   https://www.almaalomah.com/2020/08/09/489053/

Parliamentary Integrity: The File Of Recovering Iraq’s Money Is Large And Needs State Efforts

A member of the Parliamentary Integrity Committee, Representative Alia Nassif, said today, Saturday, August 8, 2020, that the file of recovering Iraqi funds is large and needs state efforts.

The deputy stated, in a press statement, that “the recovery problem lies in the lack of coordination between the recovery departments in the Central Bank, the Interior, the Integrity and the Foreign,” noting that “all these bodies were summoned in the House of Representatives long ago, and it became clear that there is no coordination between them in this regard. “.

Nassif pointed out that “the Integrity Commission is making individual efforts in the matter of recovering funds, whether belonging to the former regime or related to corruption files,” stressing that “this file is very large and needs a special state effort in following up on judicial decisions or Interpol, as well as legal procedures.”  https://www.radionawa.com/all-detail.aspx?jimare=21497

The Central Bank Establishes A Banking Relationship With Euroclear Bank

he Central Bank of Iraq announces that it has completed the procedures for establishing a banking relationship with ( Euroclear Bank ), which is one of the internationally known institutions in the field of securities preservation and investment, and manages bonds for central banks estimated at $ 15 trillion.

He confirms that this achievement will contribute to strengthening the international relations of the Central Bank of Iraq and simulating international practices in the field of reserves management.

The Central Bank of Iraq  information Office  9 August 2020   https://cbi.iq/news/view/1528

The Central Bank Establishes A Banking Relationship With An Institution That Manages $ 15 Trillion In Bonds

Time: 08/09/2020 14:08:25 Read: 2,236 times  {Baghdad: Al Furat News} The Central Bank of Iraq announced that it has completed the procedures for establishing a banking relationship with Euroclear Bank International.

The bank said in a statement that the Euphrates News Agency received a copy of it, that the institution “is one of the internationally known institutions in the field of securities preservation and investment, and manages bonds for central banks estimated at $ 15 trillion.”

He stressed, “This achievement will contribute to strengthening the international relations of the Central Bank of Iraq and emulating international practices in the field of reserves management.”   LINK

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