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Iraqi News Friday AM 10-23-20

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The Bank, The World Fund, And The Group Of Seven Announce Their Support For The White Paper

Time: 10/22/2020 21:21:03 Read: 4,225 times  {Baghdad: Al Furat News} The Bank, the World Fund, and the Group of Seven announced their support for the White Paper.

The Deputy Prime Minister and Minister of Finance participated in the first meeting of the Economic Contact Group for Iraq, which was hosted by the British Minister of State for Middle East and North Africa Affairs and chaired the meeting, Iraq and the World Bank, with the participation of members of the Finance Committee in the Iraqi Parliament, and representatives of the G7 member states and the International Monetary Fund. The participants expressed their support for the recently adopted economic reform white paper.

The Deputy Prime Minister and Minister of Finance expressed his appreciation to the United Kingdom for hosting the meeting, and presented a summary of the objectives of the White Paper for economic reform and stressed that supporting the Economic Contact Group will enhance Iraq’s ability to face the challenges of the next stage.  LINK

Iraqis Mock The Formation Of An International Financial Alliance: Iraqi Competencies Are Deliberately Disabled

Reports   Economy News – Baghdad  A number of Iraqis mocked the formation of an international financial coalition to support Iraq in the current financial crisis due to resorting to foreign competencies and not relying on Iraqi competencies.

And announced yesterday in London, the establishment of an international financial alliance under the name “Economic Contact Group that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to confront the stifling financial crisis.

The financial alliance will aim to stimulate international support for an urgent economic reform program that will last for 3 years and at a cost of 6 million pound. And providing global expertise to achieve economic growth and provide international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes to drive growth.

The International Financial Alliance to support Iraq includes: America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee.

An economics professor at Basra University, Nabil Al-Marsoumi, said that the establishment of this alliance means the ineffectiveness of the advisory body in the Council of Ministers and the economic teams in the Ministries of Finance and Planning and its inability to find effective solutions to the current financial crisis and the Iraqi government having to contract with foreign authorities to import solutions like other commodities.

That we import from abroad despite the government’s release of its white paper, which it sees as an important reform recipe to alter the paths of the Iraqi economy.

On the other hand, he said the economist, Dr. Maytham Laibi, Kazmi project, a project internationally, unfortunately , an American, not a legitimate national, a project deduced from the danger of Iran, explaining economically presented Kazmi and paper reform , a paper international institutions are subject to their requirements, and the paper you need financial support can It is obtained from an international coalition established for this purpose by agreement of a group of superpowers and their institutions, according to a medium-term schedule of 3-5 years .

He explained, “The man (Al-Kazemi) is planning to stay, and his stay is dependent on the opponents’ plans in the coming months that could be plotted against him to bring him down . ”

Laibi expected that the economic reform would continue without “tangible” changes in the exchange rate or “sharp” deductions for employees’ salaries … as these sharp and tangible changes could undermine the stability required to implement the reform package .  Number of observations 237   Date of addendum 10/23/2020 https://economy-news.net/content.php?id=22366

Learn About Oil, Dollar And Gold Prices In The Iraqi Market

Market Economy News _ Baghdad  “Al-Eqtisadiah News” publishes a list of the exchange rates of the dollar, foreign currencies, oil and minerals in the Iraqi local markets on Friday.

Exchange office prices: The sale price of the dollar is 125,250  The purchase price of the dollar is 124,250

International foreign currencies:

Euro: 100 euros, $ 117.90    GBP: 100 pounds $ 130.57    Turkish Lira: 100 $ 794,80 Turkish Lira

Minerals:  The price of an ounce of gold worldwide is $ 1903.10

Oil: The price of a barrel of Brent crude oil is $ 42.24   The price of a barrel of US crude oil is 40.37 dollars

Number of observations 68 Date of addendum 10/23/2020  https://economy-news.net/content.php?id=22360

Prime Minister Mustafa Al-Kazemi Meets With Heads Of A Number Of British Companies

October 23- 2020  On the sidelines of his current visit to Britain, the Prime Minister, Mr. Mustafa Al-Kazemi met with the heads of a number of British companies in various fields and sectors.

During the meeting, His Excellency affirmed the Iraqi government’s keenness to provide a healthy environment and appropriate climates for investing companies operating throughout the country.

And he indicated that Iraq is planning today to maximize investment opportunities and expand them, in light of the country’s actual need for investors to enter in many service and sector projects, which would accelerate the Iraqi economy forward and provide more job opportunities for our people.   https://pmo.iq/press2020/23-10-202001.htm

Iraqis Mock The Formation Of An International Financial Alliance: Iraqi Competencies Are Deliberately Disabled

Reports  Economy News – Baghdad  A number of Iraqis mocked the formation of an international financial coalition to support Iraq in the current financial crisis due to resorting to foreign competencies and not relying on Iraqi competencies.

And announced yesterday in London, the establishment of an international financial alliance under the name “Economic Contact Group that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to confront the stifling financial crisis.

The financial alliance will aim to stimulate international support for an urgent economic reform program that will last for 3 years and at a cost of 6 million pound. And providing global expertise to achieve economic growth and provide international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes to drive growth.

The International Financial Alliance to support Iraq includes: America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee.

An economics professor at Basra University, Nabil Al-Marsoumi, said that the establishment of this alliance means the ineffectiveness of the advisory body in the Council of Ministers and the economic teams in the Ministries of Finance and Planning and its inability to find effective solutions to the current financial crisis and the Iraqi government having to contract with foreign authorities to import solutions like other commodities.

That we import from abroad despite the government’s release of its white paper, which it sees as an important reform recipe to alter the paths of the Iraqi economy.

On the other hand, he said the economist, Dr. Maytham Laibi, Kazmi project, a project internationally, unfortunately , an American, not a legitimate national, a project deduced from the danger of Iran, explaining economically presented Kazmi and paper reform , a paper international institutions are subject to their requirements, and the paper you need financial support can It is obtained from an international coalition established for this purpose by agreement of a group of superpowers and their institutions, according to a medium-term schedule of 3-5 years .

He explained, “The man (Al-Kazemi) is planning to stay, and his stay is dependent on the opponents’ plans in the coming months that could be plotted against him to bring him down . ”

Laibi expected that the economic reform would continue without “tangible” changes in the exchange rate or “sharp” deductions for employees’ salaries … as these sharp and tangible changes could undermine the stability required to implement the reform package .   Number of observations 237   Date of addendum 10/23/2020 https://economy-news.net/content.php?id=22366

Parliamentary Finance: The Salaries Of Employees May Be Delayed Until After The End Of The Month

Money  and business  Economy News _ Baghdad The Parliamentary Finance Committee clarified, on Friday, that the salaries of employees may be delayed by the government due to the need for the borrowing law, which must be voted on by Parliament, pointing out that the vote on the law needs a week at least, which may lead to the passage of this month.

Committee member Jamal Cougar said in a press interview, “The House of Representatives must include the borrowing law on its agenda and hold a session during the current days for a first and second reading and voting on it.”

He added, “This week is the last week in October, and therefore the vote on the borrowing law needs a week at least.”

And that “the salaries of employees may be delayed due to the delay in the borrowing law, which needs the mentioned period, readings and discussions in order to vote on it, and therefore the current month will end without launching salaries.”  Number of observations 83 Date of addendum 10/23/2020 https://economy-news.net/content.php?id=22359

Oil Announces The Final Statistics On Oil Exports For The Month Of September

Friday 23, October 2020 15:13 | Economical Views: 87  Baghdad / NINA / The Ministry of Oil announced the total oil exports and revenues achieved for the month of September.

A ministry statement said that the Iraqi National News Agency / NINA / received a copy of it: “According to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), the amount of exports of crude oil amounted to (78) million and (388) thousand and (619) barrels (eight).

Seventy million three hundred and eighty-eight thousand six hundred and nineteen barrels) with revenues amounting to more than (3) billion and (172) million and (949) thousand dollars (three billion one hundred seventy-two million nine hundred forty-nine thousand dollars).

The final statistics stated that, the total exported quantities of crude oil for the month of September from the oil fields in central and southern Iraq amounted to (75) million, with revenues amounting to (3) billion and (41) million and (948) thousand dollars, while the exported quantities were From Kirkuk oil through the port of Ceyhan (3) millions and (133) thousand and (834) barrels, with revenues amounting to (124) million and (680) thousand and (174) dollars, while the quantities exported to Jordan amounted to more than (254) thousand And (785) barrels, with revenues amounting to (6) million and (320) FAO (720) dollars. ”

The statistics showed that, the average price per barrel reached (40,477) dollars.”

And it indicated that, the exported quantities were loaded by (28) international companies of various nationalities, from the ports of Basra and Khor Al-Amaya, and the unilateral buoys on the Gulf and the Turkish port of Ceyhan. https://ninanews.com/Website/News/Details?key=864455

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