DELTA: THESE ARE MESSAGES FROM IRAQI SOCIAL MEDIA TO THE NEW CBI GOV……….
“We hope that the value of Iraqi cash will be strengthened and that we can eliminate the zeros and return in a strong currency not necessarily at its previous value, but it will counter the dollar and compete with it… Actively spare and loyal employees of the Central Bank and the Ministry of Finance”…………..
MORE THAN A THOUSAND MESSAGES TO THE CBI TO RAISE THE VALUE AND COMPETE WITH THE DOLLAR….
مع العودة لتداول العملة المعدنية الصغيرة ،مثل باق الدول، للحفاظ على حقوق الناس في البيع والشراء،
with a return to the circulation of small coins, such as the rest of the countries, to preserve people’s rights to buy and sell,
متى ما أزيلت الأصفار من العملة المحلية سيزول معها الفقر والديون وربى القروض الحرام حينها سوف ترجع قيمة الدينار العراقي الواحد إلى ما يعادل 3.3778 دولار كما في فترة 1971 و 1973 مثلما تفضلتم في هذا المنشور
Once the zeros are removed from the local currency, poverty and debt will be eliminated and the mortgage stake is lifted. Then the value of the Iraqi dinar will return to the equivalent of $3.3778 as in 1971 and 1973, as you would have preferred in this publication.
لماذا لا يوجد فئات صغيرة معدنية كبقية دول العالم
Why aren’t there small metal categories like the rest of the world?
DELTA: THAT WAS JUST A FEW FROM THOUSANDS OF MESSAGES TO NEW CBI GOV……ALL ASKING THE SAME… RAISE THE VALUE AND COME OUT WITH NEW LDS……….. OVER A WEEK OR SO AND IT’S NOT STOPPING…
THEY WANT THE CBI TO TAKE THEM BACK TO 3.22………..
Samson: The Egyptian Prime Minister arrives in Baghdad tomorrow to sign “important agreements”
The joint Iraqi-Egyptian Higher Committee will meet in Baghdad tomorrow, Saturday, to discuss ways of joint cooperation between the two countries, and in implementation of the outcomes of the tripartite summit that was held between the leaders of Egypt, Iraq and Jordan two months ago.
Last August, the Jordanian capital, Amman, witnessed a tripartite summit that brought together Jordan’s King Abdullah II, President Abdel Fattah Al-Sisi, and Iraqi Prime Minister Mustafa Al-Kazemi. Foreign Minister Fouad Hussein also met his Egyptian counterpart Sameh Shoukry in Cairo this month, and participated in the “tripartite mechanism between Egypt, Iraq and Jordan” meeting at the level of foreign ministers.
The Egyptian Prime Minister, Mostafa Madbouly, will preside over the work of the High Committee between Egypt and Iraq tomorrow, Saturday, in the capital, on a high-level visit to Iraq.
The meetings of the Supreme Committee between the two countries will deal with “discussing and reviewing a number of proposed cooperation projects in various sectors, and agreeing to start their implementation during the next stage.” The meetings of experts from the Iraqi and Egyptian sides began Wednesday in Baghdad, in preparation for the work of the ministerial preparatory session to be held today, Friday, headed by Minister of Trade Alaa Al-Jubouri and Rania Al-Mashat, Minister of International Cooperation on the Egyptian side, and then the final work of the Egyptian-Iraqi Joint Higher Committee, headed by the prime ministers of the two countries, tomorrow is Saturday. The official page of the Egyptian Cabinet on Facebook said yesterday, “Experts from both sides are working, during the meetings on Wednesday and Thursday, to agree on the final drafts of the ready documents, to sign at the conclusion of the work of the Supreme Committee.”
It is noteworthy that “the agreement establishing the joint higher committee between the two countries was signed in July 1988” and the joint Egyptian-Iraqi Higher Committee represents an important mechanism of Egyptian economic diplomacy, to coordinate the frameworks of international cooperation with Iraq.
According to the official page of the Egyptian government, yesterday, it is “intended to sign a number of important documents between Egypt and Iraq, during the meeting of the Joint Higher Committee headed by the prime ministers of the two countries, in several vital sectors, including air transport, maritime transport, taxes, industry, and health.” Justice, housing, construction and building, environmental protection, and other important agreements.”
Earlier last month, the Egyptian Minister of International Cooperation had met with the Iraqi ambassador in Cairo and her permanent representative to the League of Arab States, Ahmed Nayef Rashid al-Dulaimi, to discuss arrangements for the convening of the Egyptian-Iraqi Joint Higher Committee.
She emphasized during the meeting, “the depth of Egyptian-Iraqi relations, and the Egyptian government looks forward to developing these relations in various aspects of economic cooperation between the two countries.” LINK
MilitiaMan: Sounds like what was once evaporated between the Tripartite is now to be reinvigorated. It is about the next stage. The international stage Iraq is opening up into. With that comes Capital Inflows. Which sounds to be like there has or will be energy deals plus much more that require hard currency with strength to it. The IQD at the moment as we know is at a program rate, that doesn’t fit the mold. Is that about to change, the citizens surely think so. I see this meeting as very timely and very well placed. Take into consideration what is in the FA thread I mentioned earlier and notice the time frames there and above. They seem to fit like a glove. Imo We are in a very good place. Lets see what the days bring us.. Imo ~ MM
Don961: Iraq is the missing ingredient in America’s strategy in the Middle East
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A report published by the American newspaper Foreign Policy (FOREIGHN POLICY) considered that the violent reaction against “eternal wars” is not an excuse for the United States to abandon Iraq. Their participation in wars should not be measured by the number of forces.
The report criticized Baghdad’s absence from the recent US election debate in the context of important foreign policy issues, as well as the US role in the wider Middle East.
And he considered that the status of the United States in the world has increased greatly during the past 17 years through its presence in Iraq, especially after former US President George W. Bush launched wars in both Afghanistan and Iraq and took decisions that made these wars endless.
Although his successor, President Barack Obama, was keen to put in place a program to bring back the forces as most of the soldiers had been withdrawn by December 2011, in 2014 US forces returned to Iraq to fight ISIS.
According to the report, the United States is seeking to withdraw its forces again, reducing their number from 5,200 to 3,000 by the end of this year.
Regardless of who wins the presidential elections next week, it is unlikely that the number of American soldiers in Iraq will increase unless there is a major development that threatens to destabilize the region.
Demonstration in Tahrir Square in Baghdad has been going on for a year to demand political and economic reforms (Reuters) for good reasons, and the newspaper seemed to urge the United States to stay in Iraq, due to the reasons it described as “rightful”, most notably its participation in borders with Iran, Jordan, Kuwait, Saudi Arabia, Syria and Turkey.
Moreover, Baghdad possesses one of the world’s largest reserves of oil, the free flow of which will be essential for global economic growth in the coming years.
The report said that there are many Iraqis believe that Washington can help them to change years of instability, internal conflict and corruption. He considered that the United States was able to provide political and economic support to influence Baghdad to move towards political pluralism and liberal market policies.
Al Jazeera LINK
Samson: For the first time, the launch of a shipping line between Iraq and Gulf countries
The Ministry of Transport, the General Company for Iraqi Ports, announced the launch of a new shipping line between the ports of the Sultanate of Oman and Basra, specifically the northern port of Umm Qasr, through the Philippine company operating Berth 20 Iraq Gate, which was inaugurated for the first time between the two countries.
A statement of the ministry, a copy of which was received by the Al Furat News Agency, quoted the general manager of the company, Farhan Muheisen Al-Fartousi, as saying that “and in implementation of the Minister of Transport’s directives to work on a policy of openness to companies and customers and to provide the best port and logistical services, the Sultanate of Oman-Iraq line has been launched.”
Al-Fartousi stated that “the Omani-Iraqi line started with a successful experiment, at the rate of one trip per week, transporting 100 containers and exporting loads of Iraqi dates and leather,” noting that “the second flight came with a load of 500 containers, as the financial returns of this line increased to 125 million dinars, which makes it one of the lines.” Promising and fruitful navigation. “
For his part, the director of the northern port of Umm Qasr, Farzdaq Abdul Razzaq, said that “the new shipping line worked to attract the Basra Gate Terminal Company, which operates Berth 20 in cooperation with Iraqi ports,” indicating that “the shipping and logistical services that we are working to provide at the docks of the northern port of Umm Qasr were A major reason for the demand for promising shipping lines to our ports, which is increasing significantly.”
It is noteworthy that the ports of Iraq launched the maritime shipping line for the first time between the ports of the Sultanate of Oman and the northern port of Umm Qasr, at the rate of one trip per week.
Samson: The United States imposes new sanctions on entities and individuals linked to Iran
Today, Thursday, the US Treasury Department said that the country’s authorities have imposed new sanctions on entities and individuals linked to Iran and the agency “Reuters” indicated that some of the punishing entities are located in China and Singapore
The ministry said it had identified 8 entities that participated in the sale and purchase of Iranian petrochemical products
The US Treasury imposed new sanctions on Iran last week, affecting Tehran’s ambassador in Baghdad, Irj Masjedi, and several Iranian entities, which Washington accused of interfering in the elections
Earlier, US intelligence accused Iran of interfering in the upcoming US elections with the aim of destabilizing the United States and preventing Donald Trump from being re-elected as president
MilitiaMan: Mahdi was on watch… Hence the USA knows the money trail.. imo K(azimi) won’t be apart of that nor will the new CBI Governor.. imo.. ~ MM “These funds were sent to China and from there to Iran.”
Don961: Iraq’s economy is under pressure from corruption and unemployment, so what do international institutions say?
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The Iraqi economy faces a number of challenges, starting from the deteriorating security situation in the country and the significant decline in oil prices, to geopolitical tensions and social unrest in the context of poor public services and the lack of progress in combating rampant corruption, not to mention the widespread poverty and unemployment among the population. Reconstruction after many years of wars, and a faltering economic recovery that faces today the repercussions of the painful Corona crisis.
In this report, we monitor the vision of major international institutions for the economy of the state of Mesopotamia, the first civilizational and commercial centers in the world, before successive regimes that caused the depletion of Iraq and put its people in the cycle of poverty and unemployment for decades to come. Achieving peace, stability and better living standards for its citizens and a return to past growth rates. Its reports also suggested strategic paths through which Iraq could free itself from the fragile reality it lives today.
The World Bank
The World Bank says that Iraq today stands at a crossroads. Almost two decades after the 2003 war, the country is still stuck in a fragile reality, and faces increasing political instability, mounting social unrest, and an increasingly deep gap between state and citizen. And in the midst of a number of crises; Including falling oil prices, the Corona pandemic, and recent protests. This is in addition to the accumulation of the effects of weak economic policies, the absence of reforms, and the inability to address corruption. Iraq is now experiencing its worst annual GDP growth performance in 2020 since the fall of Saddam Hussein’s regime. Instability, lack of employment opportunities, corruption and poor service delivery remain among the most important risks to the country’s long-term growth.
The bank expected that the Iraqi economy would contract in 2020 due to the drop in oil prices and the outbreak of the Covid-19 pandemic. As a result, the double deficit is likely to increase, reflecting the downward trend of public debt and adding pressure on the exchange rate and central bank reserves.
The World Bank pointed out in its report that weak oil prices, lack of budget flexibility, as well as curtailing programs that encourage growth and slow implementation of structural reforms, all of which pose major risks facing the country’s economic prospects, and constitute an obstacle to enhancing human capital formation and job creation.
He added that, in light of this multi-faceted crisis, the growth rate in Iraq is expected to contract by 9.5 percent during 2020, which is the worst annual performance since 2003. As the oil GDP records a 12 percent contraction amid the constraints of the OPEC-producer agreement. From abroad, to reduce production, while the non-oil GDP shrinks by 5 percent due to the impact of the service sectors with measures to limit the spread of the pandemic, especially the very important religious tourism sector.
The report indicated that the weak domestic demand and the depreciation of the Iranian and Turkish currencies against the Iraqi dinar led to curbing the rate of inflation, indicating that the overall and base inflation rate did not register an increase of only 0.4% and 0.7% during the first seven months of 2020 on an annual basis. .
The bank said that the future prospects for Iraq are characterized by a high degree of fragility and depend on the development of global oil markets, the ability of the Iraqi health care system to respond to this pandemic, and the reform process.
Despite the bleak picture drawn by the bank, it gave a glimmer of hope by saying that if conditions improve, the growth rate is expected to gradually return to between 2.0 and 7.3 percent between 2021 and 2022 with the expectation of a recovery in the non-oil economy. To score an average of 4 percent in the same period. The recovery in domestic demand is expected to increase the rate of inflation by an annual average of 2 percent over the same period.
In April, the World Bank announced its readiness to support Iraq and restructure the loans granted, in a way that would contribute to protecting vulnerable segments of society.
The Resident Representative of the World Bank in Iraq, Ramzi Numan, said during a meeting with the Iraqi Minister of Planning, Nuri al-Dulaimi, that the World Bank seeks to provide an integrated vision to address the future repercussions that will result from the Corona crisis, including the high rates of poverty and unemployment as a result of the economic downturn, the decline in growth rates, and the decline in gross domestic product. .
He indicated that the World Bank is ready to provide possible support and restructure the loans granted to Iraq, in a way that contributes to protecting vulnerable segments of society, indicating that 11 Iraqi governorates are included in the Social Fund for Development project that supports the Iraqi government’s strategic plans to alleviate poverty.
The International Monetary Fund believes that the end of the war against ISIS and the overcoming of long-standing socio-economic problems, and linking this to a strong return of oil prices, may all constitute an opportunity to rebuild Iraq, which according to the Fund faces enormous challenges.
The Fund stated that the wheel of economic recovery in Iraq is still moving at a slow pace, and reconstruction projects are very limited, after the war has ended, while large current spending strengthens the risks that threaten the Iraqi economy, which puts public funds and the reserves of the Central Bank on a path that cannot be supported Its continuity. The report, issued in 2019, stressed the importance of combating corruption in order to enhance the effectiveness of public institutions, and to support investment efforts and job creation on the part of the private sector.
In the financial sector, the Fund called on the Iraqi government to create a strong plan to restructure the large public sector banks, and the associated strengthening of banking supervision, which he said has become a necessity to ensure financial stability, and also called for strengthening financial development and inclusion, and establishing stronger controls to combat Money laundering and terrorist financing, and strengthening oversight operations, which helps Iraq prevent abuse of the country’s financial sector for the purposes of reaping criminal proceeds from money laundering and terrorist financing.
The Fund believes that addressing weak governance and the weaknesses through which corruption is spread is a very important factor in achieving the goals. As a first step, the Fund urged the Iraqi authorities to develop a holistic understanding of corruption risks in the country, and then work to implement policies to eliminate these risks in a coherent and coordinated manner.
He stressed the need to strengthen the legislative framework in order to effectively prevent officials from misusing their positions, or misusing state resources. To this end, the fund proposed to expedite the passage of laws that enhance the enforcement of the financial disclosure system, criminalize illicit gain, the need to ensure the independence and integrity of the bodies working in the field of anti-corruption, and the necessity to activate the anti-money laundering and terrorist financing system to support anti-corruption efforts.
As for Transparency International, it focused in its report on the widespread unemployment among Iraqi youth, the decline in freedoms, including media freedoms, and the dominance of sectarian groups in the country, which reinforced societal division.
The organization said that the high rates of youth unemployment and the meager reform efforts were the reason behind the descent of thousands of Iraqi youths to the streets in early October of last year. Horrific scenes of violent repression ensued, as security forces used live ammunition against crowds of peaceful protesters, killing more than 100 and wounding thousands.
The organization’s report, issued last year, said that sectarian groups in the country have dominated politics in Iraq since the US overthrew Saddam Hussein in 2003. The entrenched power between these groups has divided the population and created space for political parties to control more areas of life, which affects In everything from job opportunities to distributing government contracts, the country is fertile ground for corruption.
The organization indicated the closure of the US-backed Al Hurra channel last September after it published reports of rampant corruption among sectarian groups. The Iraqi government called for respecting basic rights and freedoms, such as freedom of assembly, protest and expression, and called on it to support Iraq’s struggle against corruption.
International Finance Corporation
Iraq is one of the priorities of the International Finance Corporation in the Middle East. The corporation has funded about 10 projects in the country covering telecommunications, industry, water and hotels, among other sectors. It is also studying more investment opportunities in the energy and manufacturing sectors. The investments of the International Finance Corporation have grown significantly over the past nine years, as the corporation has invested $ 1.5 billion in Iraq, the amount includes joint investments with other parties, and its current project portfolio is $ 330 million. These projects focus particularly on improving access to critical infrastructure and supporting the manufacturing sector.
The International Finance Corporation, a member of the World Bank Group, said that years of war and lack of investment have crippled Iraq’s energy infrastructure, which led to frequent power outages and stifled economic growth. She spoke about the country’s public sector’s lack of the necessary resources to finance the reconstruction.
The corporation had also provided a financing package of $ 375 million to the Iraqi private energy company, Mass Global Energy, Sulaimaniyah, in a step towards strengthening the energy infrastructure in the region and its residents.
Adequacy of Ollier
Arabic Independent link
Samson: Hyundai signs a deal of two billion dollars with Iraq
30th October, 2020
The South Korean Hyundai company, announced that it has reached a deal worth nearly two billion dollars that it signed with Iraq to build a waste recycling facility in Basra Governorate, in the south of the country.
As for the Iraqi institution partner in this deal, it is the state-owned Basra Oil Company.
Hyundai stated that the construction works of the facility will start in January and end in July 2025. It added that this deal constitutes 11.7 percent of its revenues for the past year. LINK