TNT:
Tishwash: The Iraqi parliament adjourns its session and decides to extend its legislative term.
The House of Representatives adjourned its regular session on Thursday, after completing the discussion of a number of legislative items, as part of its work.
The council’s media department said in a press statement: “The House of Representatives has begun the first reading of the proposed Juvenile Welfare Law, and has completed reading 50 articles within it.”
She added that “the Council also completed the first reading of the proposed first amendment to Law No. (18) of 2018 concerning the protection of teachers, instructors, supervisors and educational counselors.”
She noted that “the council also decided to extend its legislative session for 30 days.” link
Tishwash: Framework delayed PM decision to await US-Iran talks outcome, politician says
Leaders of the Coordination Framework postponed naming a prime minister candidate at a recent meeting in order to await the outcome of negotiations between Washington and Tehran, a politician familiar with the discussions has said.
“The apparent reason was the dispute over the two-thirds mechanism, but the underlying reason was waiting for the U.S.-Iran negotiations and what they will lead to,” Aziz al-Rubaie, secretary-general of the National Line Movement, said in a televised interview.
Rubaie said the meeting, held at the home of Hikma Movement leader Ammar al-Hakim, included Accountability and Justice Commission head Basim al-Badri waiting in a nearby room with a political vision prepared in the event he was named as a candidate. Leaders decided at the last moment to delay the announcement, he said.
Rubaie predicted the framework would not reach conclusions at its Friday meeting either, adding that Sudani and others may yet propose former Prime Minister Haider al-Abadi as a compromise candidate. He attributed the deadlock to “stubbornness and narcissism” among political leaders and said reliance on external actors had distorted decision-making. “We have reached a point where we wait for a signal from the Americans or approval from the Iranians to choose the prime minister,” he said.
The Coordination Framework’s nomination of Maliki in January drew direct U.S. opposition, with Trump warning Washington could halt support for Iraq if Maliki returned to power. The Dawa Party has maintained his candidacy “has not been withdrawn,” while rival factions say eight blocs back incumbent Prime Minister Mohammed Shia al-Sudani against four for Maliki. Badri and Ihsan al-Awadi, director of Sudani’s office, remain under consideration as alternatives.
President Nizar Amedi has 15 days from his April 12 inauguration under Article 76 to task the largest bloc’s nominee with forming a government. link
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Tishwash: Mahmoud Dagher: Trust between banks and the public is the foundation of financial stability and economic support.
Dr. Mahmoud Dagher, Chairman of the Board of Al-Nasik Islamic Bank, stressed that strengthening trust between banks and the public is one of the most important gains that the banking sector should achieve, noting that achieving success and financial stability cannot be achieved without building a strong relationship based on trust and transparency between banking institutions and citizens.
During his speech at the Governance, Risk Management and Compliance Forum, Dagher explained that consolidating this trust requires the actual application of governance and compliance principles, as they are the basic pillar for regulating banking work and ensuring transparency, accountability and commitment to modern professional and administrative standards.
He added that boards of directors bear a pivotal responsibility in this regard, by setting clear policies, following up on their implementation, and developing the banking work environment in a way that contributes to raising performance efficiency and achieving stability, which directly reflects on restoring public confidence in banks and strengthening the role of the banking sector in supporting the national economy. link
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Tishwash: Urgent | Urgent warning from the International Monetary Fund: Iraq is the country most affected by the war and has no options for dealing with its economic repercussions.
A senior official at the International Monetary Fund said that Iraq does not have many options to deal with the economic repercussions of the Iran war other than reducing spending and temporarily resorting to dollar reserves, until a government is formed that can approve borrowing or request formal financing from international institutions.
Jihad Azour, the IMF’s Middle East and Central Asia director, told Al-Sharq platform on Thursday, as reported by Iraq Observer: “There is communication between the IMF and the Iraqi authorities to help the country mitigate the crisis.” He added: “There are discussions, as you know, they are now in the process of choosing a prime minister and forming a government. They currently have very limited ability to request financing or even to borrow due to legislative restrictions.”
He added: “They have to manage spending now in a way that prioritizes the most urgent needs. I think they are already using reserves, which is a temporary solution to a crisis that predates the start of the current war.”
Azour explained that the challenges Iraq is currently facing are due to “years of fiscal expansion,” noting that: “The Iraqi government was already facing severe financial constraints before the war due to a combination of excessive spending and very limited non-oil revenues,” noting that the IMF estimates the economy will contract by about 0.4% in 2025. link
Tishwash: Reassurance to employees: Expert says there is no need to worry about salaries despite the disruption in dollar shipments.
Economic expert Nabil Al-Marsoumi confirmed that there is no concern about employee salaries, pointing out that the current crisis is related to the disruption of dollar shipments and not their complete interruption.
Al-Marsoumi said, during his appearance on the “On the Ruler” program broadcast by Al-Furat satellite channel, that: “There are two narratives regarding the issue, the first links it to the circumstances of the war and the difficulty of transferring funds, while the other indicates that it is a measure related to Iraq’s position on regional tensions,” explaining that “this will not significantly affect meeting the demand of travelers, as it represents only about 7% of the total dollar funding and can be covered for several months with the availability of cash reserves at the Central Bank.”
He added that “the continuation of the disruption and its transformation into an American decision may affect the parallel market, especially with about $30 billion deposited in international banks,” warning that “the real fear lies in the possibility of stopping bank transfers, given the direct impact this would have on imports.”
He pointed out that “the decrease in the number of travelers and the volume of remittances due to the security situation in the region will limit the effects of the crisis,” suggesting that “the repercussions of the rise in the dollar exchange rate will be limited at the moment.”
He added that “Iraq is incurring daily financial losses as a result of the war,” noting that “salaries are secured through the Central Bank’s reserves, with options including printing currency, despite the inflationary risks it carries.”
Regarding the energy file, Al-Marsoumi stressed that “the cooking gas crisis in Iraq is real as a result of the decline in oil production,” noting that “increasing crude oil production will contribute to addressing the gap between supply and demand, while the shutdown of some oil fields and the difficulties in rehabilitating infrastructure have contributed to the loss of significant oil revenues.”
Al-Marsoumi concluded by saying that “relying on exporting oil via tankers is a poor, expensive and dangerous means of transport, in addition to causing traffic jams; but it is the only option currently available to Iraq in the absence of alternatives,” indicating that “the cost of transport and shipping reaches about $15 per barrel.” link
