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Iraqi News Monday AM 1-25-21

TLM724 Administrator BondLady’s Corner

A Slight Decline Of The Dollar In Iraq Today

Time: 01/25/2021 10:27:28 Read: 6,825 times  {Baghdad: Al Furat News} Today, Monday, the exchange rate of the dollar in Iraq decreased slightly.

The exchange rate on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad was 1456 dinars, or 145 thousand and 600 dinars for one hundred dollars.  Yesterday’s price in Baghdad was 1456.5 dinars.

In Erbil governorate, the dollar exchange rate decreased to 1456 dinars, and in Basra governorate it reached 1456 dinars.     LINK

Talabani Is Heading To Baghdad To Install The Budget Agreement

Political  Monday 25 January 2021 | 05:02 pm| Views: 126  The Vice President of the Kurdistan Regional Government, Qubad Talabani, went to the federal capital, Baghdad, today, Monday, as the head of the Kurdish negotiating delegation .

Talabani’s spokesman, Samir Hawrami, said that Talabani went to Baghdad today to install the agreement concluded at the end of 2020 between the governments of Iraq and the region and determine the region’s share in the budget bill for 2021 .

A high-ranking delegation from the Kurdistan Regional Government arrived yesterday, Sunday, to the capital, Baghdad, to engage in a new round of talks in order to secure the region’s share in the federal financial budget for 2021 .

The delegation included: Minister of Finance Awat Sheikh Janab, Minister of Planning Dara Rashid, Minister of the Region Khaled Shawani, and Chief of the Cabinet of the Provincial Council of Ministers, Omid Sabah .

The Finance Committee in the Iraqi Council of Representatives has been conducting, for more than two weeks, a series of meetings in the parliament building with the aim of collecting observations and making the necessary amendments to the draft budget law . https://aynaliraqnews.com/index.php?aa=news&id22=143013

International Monetary Fund: The Iraqi Authorities Have Asked Us For Emergency Assistance

Pratha News Agency91 2021-01-25   The International Monetary Fund confirmed today, Monday, that it had received an Iraqi request for “emergency aid.”

The representative of the Fund said in a statement, “The Iraqi authorities have requested emergency assistance from the International Monetary Fund under the Rapid Financing Tool, and indicated their intention to request a long-term arrangement with the Fund to support the planned economic reforms.”

“Discussions are underway regarding the authorities’ request for emergency assistance, “he added.

http://burathanews.com/arabic/economic/385100

International Criticism Receives An “Emergency Request” From Iraq

Time: 01/25/2021 09:48:55 Read: 3,744 times   {International: Al Furat News} The International Monetary Fund announced that it had received a request for emergency assistance from Iraq, indicating that talks are underway between the two parties in this regard.

“The Iraqi authorities have requested emergency assistance under the Rapid Financing Instrument, in a long-term arrangement, to support the planned economic reforms,” the fund said in a statement.

He added, “Discussions are ongoing regarding the authorities’ request for emergency assistance.”

The Minister of Finance Ali Allawi told “Bloomberg” yesterday, that Iraq is in talks with the Fund to obtain a loan worth 6 billion dollars.

He indicated that Iraq may request an additional $ 4 billion in low-cost loans through another program linked to government reforms.   LINK

International Monetary: Iraq Requested Emergency Assistance

11:11 – 25/01/2021  The information / Baghdad ..The International Monetary Fund announced, on Monday, that Iraq has requested emergency assistance and that talks are continuing between the two parties.

The Minister of Finance, Ali Allawi, had said, in an interview with “Bloomberg” that Iraq was in talks with the International Monetary Fund to obtain a borrowing package worth 6 billion dollars.

“The Iraqi authorities have requested emergency assistance from the International Monetary Fund using the Rapid Financing Instrument,” a representative of the fund said in a statement quoted by Reuters.

He suggested that Iraq would also demand “a long-term agreement with the Fund to obtain support for the implementation of the planned economic reforms.”  The representative indicated that “talks are continuing to discuss the emergency request.”   https://www.almaalomah.com/2021/01/25/517078/

Economic Specialist To (NINA): Iraq’s Foreign Currency Reserves Will Decrease By About 40 Billion Dollars Within Three Years … If The Borrowing Policy Continues

Monday 25, January 2021 10:08 | EconomicalViews: 361   Baghdad / NINA / The specialist in economic affairs, Ali Jabbar Al-Freiji, warned of the negative consequences of the borrowing policy, stressing: “The monetary reserve of the foreign currency of Iraq will drop to 14.3 billion dollars in 2024, if the government continues to borrow.”

Al-Faraiji said in a statement to the Iraqi National News Agency ( NINA ): “The Bloomberg International Economic Agency issued an annual report indicating that the Iraqi economy suffers from many disturbances, accompanied by financial mismanagement, according to the readings of the International Monetary Fund and the World Bank.”

He pointed out that “if the Iraqi governments continue with the same approach and method of managing the country’s capabilities and wealth and continuing to borrow, the rate of Iraqi foreign exchange reserves will drop from 53.4 billion dollars to 14.3 billion dollars in 2024.”

Al-Freiji called on the government to pay attention to this issue, reduce external borrowing, restore the country’s strategic plans for the coming years, and maximize the state’s non-oil financial resources.

https://ninanews.com/Website/News/Details?key=883911

Economist: Iraq’s Foreign Currency Reserves Will Drop To 14.3 Billion Dollars In 2024

Baghdad Post Monday, January 25, 2021 12:41 PM  An expert on economic affairs, Ali Jabbar Al-Freiji, confirmed that the cash reserves of foreign currency for Iraq will drop to $ 14.3 billion in 2024, as the government continues to borrow.

He said Frejee that ” the agency global economic Bloomberg issued an annual report indicates that the Iraqi economy suffers from many disorders, companion mismanagement Almalahhsp readings International Monetary Fund and the World Bank.

He noted that” the governments of Iraq if it continued the same approach and style capabilities of the country and wealth management, and continue to borrow The rate of the Iraqi reserve of foreign exchange will drop from $ 53.4 billion to $ 14.3 billion in 2024.

Al-Fariji called on the government to pay attention to this issue, reduce external borrowing, restore the country’s strategic plans for the coming years, and maximize the country’s non-oil financial economy.

LINK

Market   Economy News – Baghdad   The International Development Bank Announced That It Has Joined The Bani Platform For Clearing And Settling Arab Payments.

The bank said in a statement seen by “Al-Eqtisad News”, “with unremitting and promising efforts and on the occasion of launching and operating the” Buna Buna “platform for clearing and settling Arab payments owned by the Arab Monetary Fund and starting to implement the business of sending and receiving money in various currencies and after the platform’s success in conducting financial transfers in every From Egypt, the United Arab Emirates and Jordan, as a first stage. ”

The statement added that “the International Development Bank, as the first Iraqi bank to start its work on this platform, which will allow its customers to send money between Arab countries and in all currencies and to the various markets of the Arab region and abroad, with very low commissions, which will include more than 120 Arab banks to its network in order to expand the list of Arab and international currencies “.

The bank stressed that “work is underway to introduce the Iraqi dinar currency on this platform soon to encourage the use of Arab currencies in financial and investment transactions in accordance with international standards and after the International Development Bank fulfills all operating requirements, which reflects the bright image of Iraqi banks and their competition with Arab banks in applying all modern banking standards.” And her signature of the sharing agreement. ”

Number of observations 93 Date added 01/25/2021   https://economy-news.net/content.php?id=23811

Article (47) In The Budget Raises A Wide Debate

Monday 25 January 2021 209  Baghdad: Hoda Al-Azzawi   The draft federal budget law for the current year 2021 raised a number of parliamentary and legal objections, this time regarding Article (47) of them in which jurists and parliamentarians saw in it the squandering of the state’s assets and property and undermining its economic structure, and it opens a legitimate door for corruption that results in widespread chaos in the country. In this circumstance.

A member of the National Approach and Leadership Bloc in it, MP Muhannad Al-Atabi, said in an interview with Al-Sabah: “One of the paragraphs of the 2021 budget on the legislative platform carries among its folds a number of dangerous and significant-impact paragraphs related to the strategic strike on the Iraqi economy if some articles are kept And vote on it, and then we will be before a country without internal sovereignty ».

Al-Atabi added that «the state is usually strong with its assets and the amount of what it owns of constructions and real estate and large financial balances, and governments usually seek to expand and consolidate these government assets, but what we find today in the 2021 budget with Article 60 in the first draft, which creeped In order for Article (47) to allow all ministries to sell their assets through companies associated with them within six months, ”indicating that“ according to this article that came for the purpose of maximizing state resources, the Iraqi government allowed ministries and companies to sell their assets. (The Ministry of Transport sells Al-Nahda Garage, one of the assets and properties of the General Company for Passenger Transport), and we are faced with a great surprise that this important public garage is sold to an owner or a private company. ”  LINK

Integrity: 5 Years Imprisonment For The Former Director Of The Iraqi Trade Bank!

Pratha News Agency101 2021-01-25   The Federal Integrity Commission announced today, Monday, the issuance of a ruling against the former General Manager of the Iraqi Trade Bank TBI for committing a grave mistake that resulted in damage to the funds of the entity in which he worked, in an amount of (40,000,000) million dollars.

The investigation department of the authority, and in an official statement to it, stated that the convicted person committed a serious mistake and caused damage to public money; As a result of granting credit facilities in the amount of (40,000,000) million dollars to a bank for the purpose of covering a documentary credit despite the weakness of the guarantees provided by the bank and before completing the loan granting transaction.

The department indicated that a ruling had been issued obligating the bank to which the loan was granted to pay an amount (38,072,807) million dollars, representing the principal of the debt with the regular interest without the delay interest.

She added that the Al-Karkh Misdemeanor Court specializing in integrity issues, after reviewing the evidence obtained in the form of the audit report and the investigation report of the Integrity Commission, in addition to the statements of the legal representative of the bank and the administrative investigation that showed the defendant’s negligence.

Result of accepting weak collateral; What led to the loss of the bank’s rights, in addition to the presumption of its escape, and I reached sufficient conviction that it was convicted in accordance with the provisions of Article (341) of the Penal Code. It decided to sentence him in absentia to a five-year prison sentence.

The ruling included issuing an arrest warrant and investigating the right of the convicted person and preventing his travel, in addition to placing the seizure sign on his movable and immovable property according to the provisions of Article (184 / a) of the Criminal Procedure Law, while giving the right to the affected party to claim compensation.  http://burathanews.com/arabic/news/385098

Planning Announces The Imminent Launch Of The Social Protection Program

Money  and business  Economy News – Baghdad  On Monday, the Ministry of Planning announced the imminent launch of the Social Protection Program.

A statement by the ministry, seen by Al-Eqtisad News, stated, “The Minister of Planning, Khaled Battal Al-Najm, discussed with representatives of a number of United Nations organizations operating in Iraq the reality of food security and social protection, in light of the conditions facing Iraq, affected by the repercussions of the Corona pandemic and the crisis. Financial. ”

The minister explained that “the Iraqi government is making exceptional efforts to contain the health and economic conditions and consequences, and reduce their effects on the vulnerable and poor segments, and society in general,” noting that “the announcement of the social protection program, which aims to enhance the effectiveness of the response and accelerate reform, is about to be announced.” The ration card system and social protection network, in a way that contributes to supporting vulnerable segments of society.

For their part, representatives of international organizations expressed their readiness to provide more support for the efforts of the Iraqi government to implement the reform programs and projects required by the food situation and the social protection network in Iraq, praising, at the same time, the efforts, steps and measures taken by the Ministry of Planning.

The advisor of the United Nations Population Fund, Mahdi Al-Alaq, explained aspects of joint cooperation between Iraq and the various United Nations organizations, indicating that “the coming days will witness the completion of a number of important steps in the field of this cooperation.”

Number of observations 83 Date added 01/25/2021 https://economy-news.net/content.php?id=23808

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