Iraq Economic News and Points to Ponder Tuesday 4-16-2024
Tlm724 Administrator Bondlady’s Corner
The Sudanese Advisor Expects The Dollar To Decline After The Washington Discussions
Economy | 12:31 – 04/16/2024 Mawazine News – Baghdad, the political advisor to the Prime Minister, Sobhan Mulla Jiyad, expected Iraq’s readiness to transform the relationship with the “International Coalition” into bilateral relations, anticipating a relative decline in the “dollar” with the Sudanese visit to Washington.
Mullah Jiyad said in a televised interview followed by Mawazine News: “Iraq wants to transform the relationship with the International Coalition into bilateral relations.”
He added, “We expect the dollar to decline relatively with the Sudanese visit to Washington,” noting that “Iraq wants to transform the relationship with the International Coalition into bilateral relations.”
Politician: Iraq’s Exit From American Control Over Its Economy Will Take A Long Time
Economy | 08:54 – 04/16/2024 Mawazine News – Baghdad, political affairs expert, Osama Al-Saeedi, confirmed that Iraq’s exit from American hegemony over its economy will take a long time.
Al-Saeedi said, in a televised interview followed by Mawazine News, that “Prime Minister Muhammad Shiaa Al-Sudani traveled to Washington in order to correct the economic and development relationship with the United States of America in order to advance the Iraqi reality.”
He added, “Muhammad Shiaa Al-Sudani is acting realistically with the United States of America regarding the security file, because America has previously stated that its forces will not withdraw from Iraqi territory unless guarantees are provided by the Iraqi side.”
He pointed out that “the occupation of Kuwait carried out by the fallen regime of Saddam Hussein brought Iraqi funds into the American Federal Reserve, pointing out that the issue of Iraq’s exit from American control over its economy requires a long time that may take 5 years.” https://www.mawazin.net/Details.aspx?jimare=246102
Influential People Are Manipulating The Reputation Of The Banking Sector… Refusal To Pay Debts Threatens The First Bank In Iraq
Economy 04-16-2024 | 3,281 views Al-Sumaria News – Local On March 15, the banking sector in Iraq received a major blow caused by cooperation and collusion with influential people,
which led to significant damage to one of the most important banks and ranked first among the rest of the Iraqi banks, which is the Trade Bank of Iraq (TBI).
The Iraqi Trade Bank is the first Iraqi bank ever to be included in Fitch’s credit rating, which relates to the extent of the bank’s safety in borrowing and lending.
The bank obtained the rating in 2018 as the first Iraqi bank to obtain this rating, and
its rating at that time was within the B range, which enjoys stable safety..
After this achievement, borrowers from the Iraqi Trade Bank failed to repay the borrowing money they owed, which caused the Iraqi Trade Bank’s rating to be reduced by Fitch Credit Rating Agency from B- to CCC+,
bringing the bank’s rating down for the first time to this level, after many people declined.
Powerful borrowers are able to repay funds to the Trade Bank of Iraq.
The debts owed by these influential borrowers to the bank amounted to one billion dollars, and
while the current administration of the Iraqi Trade Bank moved to file lawsuits and seize the movable and immovable funds of the debtors who are reluctant to pay, and they are influential figures,
these influential people began to take ways to “circumvent” the law, to refrain from… Payment, which threatens to lose the bank’s money, which it cannot recover.
Observers and specialists believe that the reduction of the bank’s credit rating, which is a strong blow to the Iraqi banking sector, will not stop at this point, and
the bank’s rating may be reduced to lower levels if this crisis continues and no judicial or governmental decisions are obtained obligating those who are reluctant to pay back the money.
The Parliamentary Integrity Commission previously called on the Prime Minister and the Public Prosecution to support and stand with the management of the Iraqi Trade Bank in order to take steps to put an end to the people who drain the people’s money and endanger the position of the Iraqi Trade Bank. In the same context,
he issued a court ruling requiring the Iraqi Bank to pay 215 million. Dollars for the benefit of influential people, and
observers believe that there are suspicions of cooperation between them and influential people working to steal public money.
Parliamentary Finance: The Private Sector Is The Only Path To Economic Stability
Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani Economy News – Baghdad
The Parliamentary Finance Committee announced, on Tuesday, its intention to host the Governor of the Central Bank, Ali Al-Alaq, to discuss three main files, while indicating that the private sector is the only path to economic stability.
The head of the committee, Atwan Al-Atwani, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the Prime Minister directed support for private banks,” indicating that “the committee intends to host the Governor of the Central Bank regarding this directive, as well as the issue of the dollar exchange rate and discussing what Adopted by the Finance Committee of the Sustainable Development Project.
He explained, “The committee adopted enhancing non-oil revenues, as there is an urgent need for development projects and increasing revenues, given that the price and quantity of oil are fixed, so there is no expansion in spending,” noting that “this experience will be discussed with the Governor of the Central Bank.”
He expressed his “support for the Prime Minister’s directives regarding supporting private banks and involving them in the Iraqi economy,” noting that “the private sector is the only way to raise sustainable development and economic stability, and this comes through the automation system, digital transformation, and a set of other measures.”128 views 04/16/2024 – https://economy-news.net/content.php?id=42533
The government reveals the scenes of Biden and Al-Sudani’s meeting
Political | 04/16/2024 Mawazine News – Baghdad The official spokesman for the Iraqi government, Bassem Al-Awadi, confirmed that Prime Minister Muhammad Shia Al-Sudani’s meeting with US President Joe Biden discussed issues, including the coalition forces in Iraq. Al-Awadi said in a televised interview followed by Mawazine News, that “ending the mission of the international coalition in Iraq is an issue.” “It was raised with Washington.”
He added, “We aim to enhance security and intelligence cooperation with the United States.”
He continued, “Iraq seeks to end the mission of the international coalition in a way that guarantees the interests of the people, and we call for not expanding the conflict in the region.”
https://www.mawazin.net/Details.aspx?jimare=246031
Provoking Points To Ponder On Failures and Mistakes
Nothing succeeds like failure.- Rebecca West
Because a fellow has failed once or twice, or a dozen times, you don’t want to set him down as a failure until he’s dead or loses his courage – and that’s the same thing.- George Horace Lorimer
What we have most to fear is failure of the heart.- Sonia Johnson
No man is a failure who is enjoying life.- William Feather
You are beaten to earth? Well, well, what’s that? Come up with a smiling face, it’s nothing against you to fall down flat, but to lie there – that’s disgrace.- Edmund Vance Cooke
He alone fails who gives up and lies down.- Ralph Waldo Trine
http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html
