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Iraqi News Monday AM 3-1-21

TLM724 Administrator BondLady’s Corner

Iraq Maintains Its Credit Rating

Monday 01st March 2021  81  Baghdad: Morning   Iraq has maintained its credit rating at B-degree and with a stable outlook issued by the international rating agency Standard & Poor’s at a time when the agency, and since the outbreak of the Corona pandemic, has taken decisions to reduce the rating from stable to negative for more than 80 countries around the world.

According to the Ministry of Finance, “the stable outlook for the Iraqi economy came to reflect the continuation of foreign currency reserves at a level that increases the external public debt service, and Iraq’s ability to pay off its external debt obligations over the next (12) months.”

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The credit rating or creditworthiness is a degree that shows the ability of a country or an institution to pay its debts, and a weak rating means that there is a possibility that the debtor will not be able to fulfill his obligations, while a high rating means the ability of the state or institution to fulfill its obligations, and a high rating makes it easier for governments and companies to obtain On financing and loans, whether from the internal or external markets.

The classification process is carried out by 3 international institutions, namely Fitch, Standard & Poor’s and Fitch, based on complex economic and accounting criteria, the most important of which are profitability, assets or assets, and financial flows.

The Ministry of Finance had stated in a statement that its Minister Ali Allawi participated in a panel discussion to discuss the economic and financial developments and the credit rating of Iraq, via video conference, which included experts and specialists from the ministries of finance and oil and representatives of the Central Bank.

She added that during the dialogue, economic and financial developments and the credit rating of Iraq were discussed and the factors that contributed to maintaining the credit rating at B-degree, and the emphasis on financial and economic stability, according to Standard and Poor’s (S&P), as well as the contribution of changing the exchange rate to alleviate pressure on Foreign reserves and strengthened the ability of the Ministry of Finance to provide domestic financing, and the recovery of crude oil prices at the beginning of 2021 compared to what they were in The year is 2020.   LINK

Nazem: The Pope’s Visit Will Bring Economic And Cultural Benefits To Iraq

Political  Monday 1 March 2021 | 04:15 pm| Views: 109  The spokesman for the Council of Ministers, Minister of Culture, Tourism and Antiquities, Hassan Nazim, confirmed on Monday that the visit of His Holiness Pope Francis to Iraq will return to the country with economic and cultural benefits.

Nazem said, during a press conference to introduce the benefits of the announced visit, that it “will be included in its agenda, which will take four days, as the Pope is scheduled to arrive in Baghdad and conduct several official meetings and visits to several religious and archaeological sites.”

He added, “His Holiness the Pope will settle in Baghdad and he will have meetings with political and social elites, leaders of dialogue, clerics and civil society activists, and he will have an expected presence in the ancient city of Ur in Dhi Qar Governorate,” noting that “everyone hopes to raise the level of awareness among young people that There will be appropriate conditions for this visit and that its airspace will not be disturbed by the events in Nasiriyah. ” Regarding the events in Nasiriyah, Nazem continued, ”

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He pointed out, “Iraq has an opportunity to benefit from this visit socially and its impact on peace and community harmony, and it will also have an economic and tourist impact as soon as the Pope puts his feet in the religious pilgrimages because of its importance for the Pope and the Catholic Christian religion, and I hope this visit will revive tourism as the Tourism Authority has initiated To establish projects in this regard. ”

Regarding press coverage, Nazem said, “The Council of Ministers recommended taking into account the requests of Arab and foreign media professionals to cover the visit. We received requests of up to a thousand requests to compete with their Iraqi colleagues, and this puts before us a great challenge to facilitate their mission.” Nazem concluded the conference by saying that ”

The American Embassy Comments On The Events In Nasiriyah And Praises The Steps Of The Al-Kazemi Government

Political| 06:37 – 01/03/2021   Baghdad – Mawazine News   The US embassy in Iraq commented, on Monday, on the events of the demonstrations in Nasiriyah.

In a statement received by Mawazine News, the embassy stated: “We closely followed the recent acts of violence in Nasiriya, which resulted in the tragic loss of the lives of a number of demonstrators and the injury of hundreds of individuals. We feel deeply sorrow for the victims and their families, and we wish the injured a speedy and full recovery.”

She added, “We have been encouraged by the steps taken by the Iraqi government to calm tensions, resolve the situation in Nasiriya peacefully, and bring those responsible for violence to justice,” noting that “the victims and their families deserve adequate transparency and full accountability.”

Human Rights Indicate Clear Discrimination In Central Bank Loans

Author: AhadNA3 On 1/3/2021 – 10:40 AM 63  Today, Monday, the spokesman for the High Commission for Human Rights, Ali Al-Bayati, criticized what he considered “clear discrimination” in the loans launched by the Central Bank to support citizens to obtain adequate housing.

Al-Bayati said in a statement seen by Al-Ahed News, that “the loans granted for the purpose of building residential investment complexes and the loans granted by banks for the purpose of buying residential homes in which there is a kind of clear discrimination,” indicating that “the benefits are non-existent in these complexes, while they reach from 2 to 4 percent for the purchase of residential units. ”

He added, “The conditions set for buying a floor are“ incapacitating ”as the loan applicant needs to have a bond or open a statement, and this is not possible without paying money to the seller,” indicating that through our review of some contracts, we noticed clear unfairness in their terms and imposing harsh conditions on the buyer and exploiting a need Citizens by the vendors. ”

Al-Bayati stressed the need for “clear items to be made, especially since most of these groupings are built on lands with facilities from the state, so there must be consideration for these matters,” noting: “We also noted that loans are granted to certain complexes by banks, noting that many complexes are for this. Citizens must be given wider options, prices should be uniform, and no discrimination between one citizen and another, and the necessity for prices to be monitored and under the state’s control to prevent the exploitation of citizens. LINK

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Integrity: Increasing The Penalty For A Convicted Official

Pratha News Agency97 2021-03-01   The Integrity Commission announced Monday that it has overruled a court ruling on a convicted official.

In a statement, the commission confirmed that the Federal Integrity Commission was not satisfied with the decision of the Rusafa Misdemeanor Court, which is specialized in issues of integrity, money laundering and economic crime, to judge a general manager who concealed his financial interests by paying a fine of one million dinars.

The Commission reversed the decision before the Discriminatory Penal Commission in the Federal Court of Appeal of Baghdad / Rusafa. In order to tighten it,

In turn, the appellate body decided to ratify the conviction, while the sentence imposed was found to be light and not commensurate with the act committed and did not achieve the required deterrence. So I decided to overturn the sentence.

The legal department of the Commission, while talking about the details of the case, indicated that, through the course of the investigation and the trial in front, it became evident that the accused had not declared his possession of three properties (two apartments in Lebanon and a house in the area of freedom) registered in the name of his children in the financial disclosure form Submitted to the Prevention Department at the authority; And that during his tenure as Director General at the Ministry of Industry and Minerals.

The department indicated that the court, upon reviewing the statement of the legal representative of the authority, the technical report issued by the prevention department at the authority, its recommendations, the minutes and documents of the call and the statements of the accused, decided to convict him based on the provisions of Article (245) of the Penal Code, and determine the penalty according to it, with a fine of one million dinars.

She added that the commission, not convinced of the penalty, demanded that the decision be reversed. In order to intensify the penalty by appealing it to the Baghdad Rusafa Federal Appeal Court, indicating that the latter decided to ratify the conviction decision, as for the imposed penalty, it was found to be light, not commensurate with the act committed and does not achieve the required deterrence So it decided to revoke the sentence and return the file to its court. For the purpose of tightening them and informing them the appropriate limit

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Oil Announces Its Revenues For The Last Month

Pratha News Agency50 2021-03-01  On Monday, the Ministry of Oil announced its revenues for the month of February.   The ministry said in a statement that “the revenues of last February amounted to (5) billion and (26) thousand and (807) dollars.”

The statement added that “the quantity of exports of crude oil amounted to 82 million (877) thousand and (757) barrels.”   The ministry explained, “The average price per barrel amounted to (60,330) dollars.”

A Workshop Looking To Update The Plans Of Public Companies

Monday 01st March 2021  58  Baghdad: Morning  The companies of the Ministry of Industry and Minerals are studying new plans to market their products after updating the majority of production lines, as the Administrative and Financial Department / Training and Rehabilitation Department of the Ministry,

in cooperation with the Planning Department, organized a workshop on updating the plans of public companies, in the presence of work teams formed from the managers of planning, marketing and production in Public companies affiliated with the Ministry to prepare business plans.

The director of the Department of Planning Studies in the Planning Department at the Ministry stated that the workshop minutes, Eng. Imad Aliwi Shukir, stated that the workshop aims to provide the participants with the necessary knowledge and skills that enable them to prepare a business plan in their companies, which is represented by a written document that enables the company to provide the product or service.

He stressed that this plan is prepared from a marketing, financial and operational point of view that describes the business, services or products of the company, analyzes the market and its requirements, and develops a strategy in marketing, in addition to being a map that helps to reach the main goal, as it is defined as a strategy that provides assistance to find solutions to problems.

The workshop included a presentation by other lecturers in the Department of Planning Studies in the Planning Department of the benefits of the action plan, its importance and the reasons that lead to the failure of the plan and the importance of strategic planning within the vision and mission of the industrial strategy. LINK

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