Samson: “We will implement a package of reforms in the financial and banking sectors, and will restructure state-owned banks” says Deputy PM and Minister of Finance @AliH_Allawi as he lays out the broad outlines of the new @IraqiGovt reform programme: pic.twitter.com/9TDATsocHn — Government of Iraq -(@IraqiGovt) June 14, 2020
Ryan1216: Hurry Iraq lets go!
Don961: Al-Shami provides a set of economic solutions that enhance production and services
Saturday 13 June 2020
Baghdad / Hussein Thagab
A set of immediate solutions to address the economic problems that move the country to safety, bypassing the number of challenges that have occurred in the productive and service sectors during the past period, provided by an expert in the economic affairs, which contributes to the transition to the path of real economic development.
The head of the advisory board of the Baghdad Chamber of Commerce Salah Abd al-Mahdi al-Shami said: “The first step in which we must stand is to choose the management of the national economy from honest national experiences, especially the private sector that has successful experiences and possesses field expertise and financial solvency.”
Integrity and experience
“We suggest that there be a careful and accurate choice for a group of Iraqi businessmen who enjoy competence, integrity and experience with good reputation and have proven merit and success in their own business inside Iraq and from various sectors, as the reality requires a direct meeting between the group and officials in the Iraqi state and on top of them The Prime Minister and Chairman of the Council of Advisors to develop an integrated coordination work program aimed at activating the role of the private sector to participate in making and amending its own decisions and obtaining the required support to bring about change and positive shock to investors even foreigners with a correction movement in the previous economic platform and this is what is required in the beginning and regain the previously lost confidence”.
And between “the importance of establishing a large joint stock company (holding) by Iraqi businessmen and others and seeking the expertise required from various nationalities and focusing on purposeful and intelligent media focused on attracting the huge monetary mass that exists with citizens, which is estimated at a minimum of 45 billion dollars to convert the saved hard money into investment money Mobile serving the country to contribute to the existing public and private sector projects (hospitals, major industrial plants, agricultural fields, dairy plants, oil industry, etc.) in exchange for the shareholding company obtaining shares in those institutions in agreement with the state or according to the developer system with details to be developed later.
He pointed out that “the management of these projects will be joint between the private and public sector, if possible, and preferably at the very least, choosing the CEO of the relevant institutions from the private sector and according to the required jurisdiction, and it is possible to create projects for the major joint-stock company if the opportunities and conditions are appropriate for that.” “Putting forward the idea of the citizens’ contribution to the big company indirectly by deducting part of their salaries for a certain period.
In return, these amounts are in the form of debts on the state that can be dealt with later by increasing the proposed shares in the mentioned institutions or in the form of buying certain lands or Other emerging matters that help reduce the state’s need for the cash needed to pay salaries, and this is what is required.
He pointed out, “The possibility of using the frozen bank accounts of the state represented in its various institutions (the pension fund, the trust fund … etc) for the purpose of obtaining the public benefit through the large joint-stock company or putting forward the idea of cooperation between the public and private sector in accordance with a vision that includes the management of the private sector for business With careful monitoring of the funds by the state, all the company’s accounts, payments and contracts are monitored by a competent government committee or any trusted regulatory body. ”
He pointed out that “the success of this plan requires focusing on the workers of successful honest and purposeful media with the presence of a legal committee that works to establish true Islamic controls that correspond to the fatwa of the rational authority and that are among the most attractive factors and persuasion to the public and increase awareness and national responsibility for them, because they have become decision-makers And king in state institutions. ” LINK
MilitiaMan: They are literally telling us they are going to a market economy. They have been hammering it home for months now.. But, now they are not only talking about it they are doing it.
They have immediate solutions to facilitate the cohesion of the public and private sectors! The are going to use the private sector professionals that have proven tract records of success, reliability and integrity.
They are to choose a CEO and management personnel from the private sector to gain the confidence of the citizens to the get the Chunky money = $45 billion into the market place to grow the market economy. This is exactly what they have been working on for many years. Now they have to act and are acting accordingly.
They are even telling us they have intentions to bring about change through t a positive shock to investors. Let that sink in. Negative shocks are what they have been going through. Positive shocks are to the good.
It is my belief they are telling us that a correction from the previous economic platform is required and that the correction will regain the lost confidence. If we use the Stock Market as a platform for economics, we know that negative shocks relate to pricing of share going down and confidence is lost.
When times are good then prices go up. They even mention not only will local investors gain, so will foreigners..
By raising the value of their stock exchange by increasing their exchange rate will be a positive shock. One where we all should agree is to be a good thing.. !!!
It looks as though the confidence in the beginning is needed to then launch a joint stock holding company with various trusted nationalities to help get the chunky money into the private sector to steam the monetary engine to re build the country.. Which is the goal for all of Iraq, not just a few!
It is all Iraqis responsibility to help make their country a better place to be and live in. The have the all the resources needed natural and human.. The citizens can contribute to the holding company out of salaries for future benefits and profits as they re build and grow.. I suggest they do! It can or will be a large venture for them that can be very profitable and with a national sense of pride and honor in being apart of it.
The video above is short and sweet by Ali Allawi. It is the cutting of red tape to allow for this venture to take place. There is an urgency to bring in the new. There are many articles referencing the “new”. New PM, new reforms, new holding company, new small category notes, new e-commerce, new e-government, etc.. imo..
The information to date is extremely powerful, as it shows they are doing now what they have been trying to do for many years, as noted by the letter fron Nasserry to the new PM, just this time they are listening to the road map alternatives, and are seriously on the path to go live with the new social market economy.. imo Wow.. lol ~ MM
ALLAWI TWITTER: Ali Allawi @AliH_Allawi · 13m “We will implement a package of reforms in the financial and banking sectors, and will restructure state-owned banks” says Deputy Prime Minister and Minister of Finance Ali Allawi as he lays out the broad outlines of the new @IraqiGovt reform programme:
Don961: Al-Halbousi affirms the readiness of the legislature to overcome all obstacles in preparation for the implementation of joint decisions between Iraq and Kuwait
Localities 06/1420 2020 17:27 222 Editor: ht
Baghdad today – Baghdad
On Sunday (14 June 2020), Speaker of the House of Representatives, Mohamed Al-Halbousi, confirmed that the legislature is ready to remove all obstacles in preparation for the implementation of joint decisions between Iraq and Kuwait.
The statement added that “the Kuwaiti foreign minister congratulated on the occasion of completing the formation of the Iraqi government, wishing it success in facing the challenges.”
He pointed out that “the meeting during which a number of files and challenges of common concern between the two brotherly countries and countries of the region were discussed, including the Corona pandemic challenges, the economic crisis in light of the deterioration of oil prices, security cooperation to eliminate extremist thought, as well as a discussion on activating the outcomes of the International Donors Conference to restore Reconstruction of Iraq, promotion of mutual trade between the two countries, cooperation in the field of energy and electrical interconnection.
The Kuwaiti Minister of Foreign Affairs pointed out that “there are clear paths between the two countries and a road map discussed with the Iraqi Ministry of Foreign Affairs to activate the work and decisions of the joint committee between the two countries.”
The Speaker of Parliament confirmed, according to the statement, that “the legislature is ready to overcome all obstacles, in order to resume this cooperation and in high coordination with the Kuwaiti legislative authority represented by the esteemed National Assembly.”
MilitiaMan: Look at the language we are seeing today in articles. The Donor Conference was recently mentioned by the World Bank in the video from the 11th. Spoke about the money from the Donor Conference may be on the table in the tune of over $30 Billion.
I am sure that Iraq is keen on getting that fired up now with the New PM and his New Deputy PM who is the FM on the ground running!!!
They are discussing restoring what was on hold. That too was mentioned by the World Bank. There were reasons they put the money on hold. One imo being they were not ready to raise the rate just yet.
Post 137 (above) suggests in my opinion they just told us they will have a positive shock in the beginning. Well, that shock will have the Kuwaitis and the Saudis imo happy campers , as will we (as we are foreign investors too.) and will be willing to bring in the Donor monies.. So imo we are about to get SHOCKED and AWED very soon by the looks of it.. imo ~ MM..
Frank26: 6-14-20…… A SET OF IMMEDIATE SOLUTIONS: VIDEO LINK
THE INFORMATION PRESENTED TONIGHT IS SOLELY IN FRANK’S OPINION.