Samson: The US Treasury: The Seven Finance Ministers are looking to accelerate economies
19th May 2020
US Treasury Secretary Stephen Mnuchin telephoned the finance ministers of Canada, France, Germany, Italy, Japan, Britain, the European Commission, and the Eurogroup to discuss the economic implications of the Corona virus pandemic
“The finance ministers discussed current domestic and international measures and strategies to accelerate economic activity while proceeding to reopen our economies, and in line with the necessary health and safety measures,” the Treasury said in a statement LINK
Samson: Parliamentary finance clarifies the most important measures to be taken to get out of the current crisis
09:11 – 05/19/2020
Parliamentary Finance Committee revealed, the most important measures to be taken to get out of the economic crisis caused by the collapse of oil prices, stressing that Iraq must postpone the payment of its loans and end the multi-salary file and fight corruption.
Member of the Committee, MP Jamal Ahmed, said in a statement to “Information”, that “the government must take measures that would ease the current financial crisis due to the low oil prices.”
He added, “The government must move toward postponing loan repayments and stopping multiple salaries, especially since there are those who receive more than one government salary at the same time.”
He pointed out that “eliminating corruption is enough to overcome the current crisis,” pointing out that “border crossings can provide the country with good revenues, taking into consideration the elimination of the authorities controlling it.” LINK
Samson: To the attention of the esteemed Prime Minister
19th May 2020 by Samir Al-Nassery
The central bank is the savior for overcoming the economic crisis
Greetings, appreciation and respect
At a time when your country begins with its national career in leading the new government to overcome the chronic and emerging political, economic and health crises of the country. To show before your eyes the role of effective economic institutions after 2003, especially during the years of economic and security shocks that Iraq has gone through with regard to managing the economy to achieve the goal of stability in the financial system and the monetary system, to achieve economic stability
It is noticed that there are failures, challenges, and hazy pages related to the loss of methodology, the lack of clarity of policies and programs, and the inconsistency of the strategies that were prepared in partnership with international organizations, Iraqi experts and consultants with the reality of the unilateral Iraqi economy, which mainly depends on the oil rents and what this caused to a structural defect in the economy due to the deficit in Non-oil revenue, deficit in the balance of payments, and continuous deficit in public budgets.
Added to this is the mismanagement of public funds and the apparent weakness in the economic leadership of most ministries and government economic institutions, the failure to give an active role to the private sector and a partnership in economic decision-making
All the above failures, in addition to the economic stagnation, the drop in oil prices, the unstable business environment, the war on terrorism and the political tensions between the blocs and parties, led to insufficient visions to build a solid national economy capable of drawing the introduction to the transition to a market economy
Despite all these challenges, there were bright spots, promising experiences, policies and procedures, and success experiences by some economic institutions during the lean years, clearly and effectively during the years (2015-2020)
One of the most prominent bright points in this march is the experience of the Central Bank of Iraq in supporting the national economy while maintaining its independence, functions and goals defined in its Law 56 of 2004, and its contribution to supporting the national economy and state sadness, achieving economic resilience and promoting the decisive victory against terrorism
In addition to its procedures, executive and development policies, and building balanced relations with Arab, regional and foreign banks, and its liquidation (700), a negative note is established on the financial situation of Iraq by the Financial Working Group (FATF) and the observations in the World Bank reports on Iraq to assess the overall financial situation.
Which the Central Bank was able to overcome and implement its strategy for the years (2016-2020), the results achieved on the scope of monetary policy applications internally and the persuasion of international financial institutions and organizations and what is confirmed by the official reports issued by them which confirm the success of the Central Bank policy in achieving an important transition to the Iraqi economy by leaving the gray area (Monitoring and reviewing) to regular follow-up
And as far as we know we are interested in the economic, financial and banking affairs of the executive procedures of the means and tools of monetary policy applications, the bank has played a great role and a clear and prominent professional effort relying on its team and its national economic and financial cadres and its experts and its board of directors in supporting the national economy and strengthening the state treasury and its contributions and multiple initiatives to activate the economic cycle and enhance Liquidity with banks, payment of employee salaries, dues of contractors and farmers, reaching to extend coordination bridges between the fiscal and monetary policies and proposing new economic and structural policies to prepare water Public budgets for the coming years and attempts to restore confidence in the banking system.
The most important thing that has been achieved is the stability of the exchange rate of the local currency compared to the US dollar and the maintenance of sufficient and excellent foreign reserves in accordance with the standards of the International Monetary Fund
The Central Bank administration has demonstrated its clear ability to interact, analyze work obstacles and create conditions to overcome challenges.
Therefore, I call on you to interact with the bright economic points achieved by the Central Bank and to stimulate and support its steps to work and to make more fruitful efforts for the purpose of implementing what is stated in the government curriculum and completing the achievement of goals Its main and subsidiary strategy and achieving stability in the monetary system and thus achieving the achieved economic stability and building our national economy and achieving the welfare of society. Because the central bank has the keys to resolving crises and is the savior to overcome our current economic crisis LINK
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Samson: Economist: Iraq is about to shake if the salaries of the employees are not resolved
14:24 – 05/19/2020
The economic expert, Majed Al-Suri, warned on Tuesday against the consequences of not finding final solutions for the employees ’salaries, indicating that the continuation of the crisis will lead Iraq to a political and social jolt that cannot be praised.
The picture said in a statement to the “information” that “the continued threat of citizens With their daily strength, and waving from time to time, withholding salaries, increases internal crises.”
He added, “Unemployment rates will double from 45 percent by withdrawing estimates to unprecedented levels and leading to political and social disasters and tremors that can never be controlled.”
Al-Suri continued, “The solutions currently proposed are Iraq’s reliance on internal borrowing, and in the case of going to external borrowing, dozens of conditions will be before the government before granting loans, which increases the delay in solutions at the required time.” LINK
Don961: Al-Kazemi calls on the political blocs to help complete the cabinet formation and confirms that he has received a semi-empty treasury
Monday 18, May 2020 22:54 | Political Baghdad / Nina /
Prime Minister Mustafa Al-Kazemi called on the political blocs to help complete the ministerial formation.
He said in an article to be published tomorrow in a number of newspapers: I responded to bear responsibility, relying on an understanding of political blocs and leaders, indicating that he faces challenges that require everyone to join hands to overcome them.
Al-Kazemi added that it is not possible to direct any serious step without embarking on what restores the state its prestige and its sovereignty.
Stressing that corruption drained the wealth that entered the treasures of Iraq and found, and I am taking responsibility now, the treasury is almost empty.
He explained that: the dangerous decline in the country’s resources necessitates the government to search in all directions to find urgent sources for paying salaries.
Al-Kazemi stressed that: No warrant has been issued and no shooting will be issued against any peaceful protester, and whoever does so will be brought to justice. / End 3 LINK
Don961: Iraq is bigger than the challenges
Tuesday 19 May 2020 Mustafa Al-Kazemi, Prime Minister
With the approach I made before the parliament approaching the completion of the ministerial formation, we must put our people and national forces, and our young people demanding their rights, in front of the challenges I face that require everyone to unite to overcome them, and the deliberations and constructive and intensive discussions with all political forces aimed at reaching what satisfies me Our people and restore confidence in the possibility of overcoming the political process of the deepening crisis facing it and put our Iraq in front of a crossroads. I have fulfilled my duty and I already know the difficulties that stand before me, the heavy legacy that will confront me at all levels and in all vital fields that relate to the lives of citizens, and the security, sovereignty, and independence of the country.
Realizing that the crisis is comprehensive and interfering with the fabric of the state and its institutions, and hindering its economic strength that stumbled during the last period, nothing has been achieved that would lead to a comprehensive advancement of the country’s food security, nor to the promotion of industry and the diversification of the state’s imports, expansion of investment, and rehabilitation of eroded infrastructure.
What added to the difficulties was the lack of serious consideration of the structure of oil production and marketing and attention to oil derivatives, while in return, the crisis of administrative and financial corruption was recycled, and the disintegration of many of the state’s completion agencies and institutions. Instead of encouraging investments and work sectors and restarting troubled factories by securing what they need to absorb the unemployed workforce, the level of job inflation in the state apparatus and the depletion of resources and convincing unemployment has been raised.
All this made the challenges facing any government double. With knowledge of all these difficulties, I responded to bear responsibility, relying on an understanding of the political blocs and leaders, and before that the crowded, oppressed and demanding people of our people, due to the necessities of the stage, especially since the dangerous decline in the country’s resources with the collapse of oil prices makes it necessary for the government to search in all directions to find sources Urgent to pay the salaries of workers in the state, and cover the expenses necessary to run the affairs and obligations of institutions, foremost of which is ensuring the safety of citizens from the Corona pandemic.
By putting these facts before our people and political leaders, I reaffirm that Iraq is greater than challenges, crises, and problems, no matter how high, and that we need to cooperate and collaborate with all of our people’s forces, including parliamentary blocs, political parties, and social and cultural activities, and with the understanding of our young demonstrators, enabling the government to carry out In her duty.
This support is now required from the parliamentary political blocs to help complete the ministerial formation by voting on the list of candidates for vacant ministries, in order to proceed in setting practical plans to accomplish the tasks assigned to the government from the tasks of the transitional phase, and to respond to the legitimate aspirations of citizens to provide the possible level of services and decent livelihoods And stop the violations and abuses they are subjected to, and return their children who were arrested and absent.
It should not be forgotten by all of us that we find ourselves after seventeen years, in an unenviable situation, because our sovereignty has continued to be incomplete, violated, or subject to doubts, and the lands of our country are intended to become a field of conflict for others, and the security of our citizens is threatened, not by the continued ISIS and its sleeping cells, Only, but also from uncontrolled weapons outside the framework of the state, and all manifestations of corruption, looting of public funds and waste of wealth, and the unacceptable level of classification of Iraq in terms of education, health and services.
While unemployment is no longer a phenomenon that can be contained, rather the number of the unemployed, especially among graduates, has exceeded levels that we have not reached in any previous circumstance.
The poverty line now includes the mothers and families of the martyrs who have lost their lives in defense of the homeland.
Although the wealth that entered the treasures of Iraq over the past 17 years was sufficient to rebuild the country and establish the future fund, corruption has drained it, and some have been smuggled out of the country publicly, and I have not found myself taking over the responsibility except for an almost empty treasury!
I found it my duty under these difficult and complicated circumstances to put our people in front of the difficulties we face, including the contradiction between public promises that emphasized my freedom to choose the cabinet, and the behind-the-scenes maneuvers, tensions and attractiveness by some. This impedes the completion of the government in order to carry out its tasks vigorously and concerted efforts to reach the declared goals.
Sometimes it seems that what we are calling for assurances of the necessity to correct the paths of the political process and put the country on the path of recovery does not find listening ears for some here or there, without noting that the country is threatened by what will put us all in front of options that have no winner and the best of which is descending into chaos, God forbid, What prompts the reaffirmation of the need for everyone to place the supreme national interests above secondary interests, and for the efforts of all the blocs and parties and with the understanding of our people to join this stage.
We have no choice but to respond to the just popular demands expressed by the protest movement and the demonstration arenas, which brought together the best girls and young people of our people, and sincere work to achieve their demands to restore the glory, strength, and dignity of Iraq, and to eliminate the legacy of abhorrent quotas in all its manifestations, and to fight financial and administrative corruption.
It is not possible to initiate any serious step without embarking on what restores the state its prestige and its sovereignty, which requires that no party, whatever its source or source of power or loyalties, be above the will of the state, the constitution and the law, and that the weapon and firepower become in the hands of the state and the armed forces and at the command of the Commander in Chief Of the armed forces.
I would like to confirm once again to remove any confusion, that the task entrusted to me is to cross the transitional stage as quickly as possible, and to respond to urgent tasks directly, most notably:
– Implementing the election law with the required audits or amendments, finalizing the finalization of the law of the High Electoral Commission, securing everything necessary to hold elections as soon as possible, cooperating with the United Nations Representative and local and international observers, and ensuring that the correct foundations for holding elections are held in an atmosphere Political and security guarantees its integrity and fairness.
– Take all measures and measures in cooperation between the Ministry of Interior and all security agencies to protect the demonstrators, ensure the safety of their arenas, and express their will freely, peacefully.
I clearly declare, as commander-in-chief, that I have not and will not issue any order to shoot against any peaceful protester, and whoever does so will be brought to justice. It is the duty of the Ministry of Interior and Security Services to prevent any second or third parties from interfering with the demonstrators.
– Here again I reiterate that orders have been issued to all security services to release all protestors, search, investigate and investigate to find the kidnappers and diagnose those who carried out the assassinations and put them before the law.
-To take all urgent measures to confront the economic and financial crisis, rationalize spending, fight corruption, initiate necessary reforms, and protect our people from the Corona pandemic.
– Before and during all this, restoring the prestige of the state, asserting national sovereignty, confining arms to the official institutions concerned, ensuring the security of the country against terrorist threats, establishing the rule of law and ensuring that everyone is equal before it.
As I pledge to announce what I am announcing here, I find it my duty to express the evaluation of the blocs and their leaders, who have responded with me in voting on the incomplete ministerial formation, and I look to everyone to support our efforts and the meetings and dialogues we are doing to complete the formation and facilitate its tasks within the framework of the tasks we have identified for the transitional phase.
I conclude with a response to those who warned me that I have neither a political party nor a parliamentary bloc to protect me in the pledges I have made to serve my people, by the Almighty saying:
Believe God Almighty L