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Thread: March 2020

  1. #1
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    March 2020

    A movement to replace Al-Amiri .. and 6 candidates for the prime minister, including "Sadri"[/size]
    [/size]

    [ltr] 07 Mar.2020 - 11:03[/ltr]

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    [ltr] Views: 42[/ltr]

    [size]
    Sumer News: Baghdad .. A report by a newspaper close to the Lebanese Hizbullah shed light on the latest developments and rumors about the possibility of renewal for the resigned Prime Minister Adel Abdul-Mahdi, while 6 names were said that they were competing for the post of prime minister.[/size]

    [rtl]According to a report published by Al-Akhbar, "new arrangements are being made to renew the negotiating delegations of the Shiite blocs, which may overthrow Hadi al-Amiri," which the newspaper quotes as saying that it "may bear a large part of the failure of negotiations and wrong decisions."[/rtl]

    [rtl]Despite government efforts to control human gatherings with the beginning of an outbreak of the “Corona virus”, and the announcement of the “Husayniyya threshold” in Karbala (105 km south of the capital, Baghdad), the suspension of Friday prayers in the interest of the “Supreme Religious Authority” (Ayatollah Ali Sistani) on the lives of the participants Yesterday, it seemed abundant with recreational gatherings, at a time when the resigned Prime Minister, Adel Abdel Mahdi, came to the big port of Faw, the southernmost part of the country, to see the progress of work there, and the stages of completion of a port that would boost commercial activity in the country. Abdel-Mahdi's visit, the first of its kind since he submitted his resignation late last year, raised additional questions regarding the possibility of pursuing his duties as head of government, until parties and political forces unanimously replace him.[/rtl]

    [rtl]So far, the data indicate the difficulty of finding an alternative, in parallel with Abdul-Mahdi continuing his duties in the foreseeable future (at least during the month of March). But, on the other hand, there are those who talk about “political parties may reach an agreement during the next week on the future president,” citing indications that they consider “positive”, including the restructuring of some of their negotiating teams, specifically the “Alliance of Conquest” (coalition of pro-blocs). For the option of the “popular crowd”), so that the position of chief negotiator takes another person, in place of the Secretary General of the Badr Organization Hadi al-Amiri, who is seen by a wide spectrum of the “Construction Alliance” (which includes alongside “Al-Fath,” Nouri al-Maliki, Faleh al-Fayyad, Khamis al-Khanjar and Muhammad Al-Halbousi and others) are responsible for the failure to achieve any achievement during the negotiations, and for asylum Z «wrong choices» due «advisers lack the necessary» political experience.[

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    Bankers hold an important meeting to discuss economic decisions

    [...]


    Economy News - Baghdad
    A number of bankers held a meeting at the headquarters of the Iraqi company to finance small and medium enterprises to discuss a set of economic and banking decisions.
    Participated in the meeting, the delegated director of the Iraqi Commercial Bank, Nuri Al-Dubais, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, and the United Bank Abdul Rahman Al-Sheikhly, the authorized director of the Iraqi Company for Small and Medium Enterprises Financing, Sulaf Hussain, advisor Adnan Chalabi and advisor to the Association of Iraqi Private Banks Khawla Al-Asadi and advisor Hamid Abdal Majeed.
    The meeting also discussed, among other things, the Central Bank’s instructions for housing loans and the conditions contained therein.
    While they stressed the importance of the Central Bank’s decision on housing loans in addressing the housing crisis and supporting citizens to improve their living conditions.
    The meeting also discussed a mechanism for activating bank shares in the Iraq Stock Exchange, in cooperation between banks, the Central Bank and the Securities Commission to prepare a study on this topic.

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    Aircraft carrying American soldiers arrive at Ain Al-Asad base
    [...]

    A security source in Anbar province said today, Monday, that the Ain Al-Assad Air Force Base witnessed the arrival of planes carrying American soldiers and advisers.

    The source said in a press statement, that the Ain Al-Asad base in Al-Baghdadi district witnessed the arrival of planes loaded with people and equipment without knowing the real numbers and the identity of the people who arrived at the base, adding that it is likely that on board these planes there will be American soldiers and advisers, experts and military equipment.

    The source added, that the Ain al-Assad base witnessed an unusual movement of transport planes that landed inside the base building in conjunction with the American warplanes' heavy flight over the base building to provide security protection for those aircraft.

    He pointed out that the American forces tightened security protection measures on all their sites in the western regions due to precautionary reasons.

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    Deputy: Budget deficit could reach $ 100 billion[/size]
    Political | 03:33 - 09/03/2020

    [...]
    [...][...]



    Baghdad - Mawazine News
    , the deputy for the Alliance of Sa`oon Inaam al-Khuzai confirmed on Monday that the deficit in the budget for the current year may reach $ 100 billion in light of the drop in oil prices, while denying the existence of a viable and final solution to the current crisis.
    Al-Khuza’i said in a statement that Mawazine News received a copy of it, “Oil prices collapsed sharply yesterday, Sunday, due to OPEC’s failure to reach a new oil agreement with Russia aimed at reducing the oil supply to improve the levels of prices that have recently deteriorated due to the Crohna virus and the resulting From the decline in global economic growth and the expected global decline in oil demand in 2020, Saudi Arabia reduced its oil prices in response to Russia, and announced its intention to increase its oil production to approximately 10 million barrels per day, which toppled Brent oil prices to reach approximately $ 36 a barrel.
    She added, "In Iraq, the economic scene appears bleak and dangerous due to a number of factors, including the adoption of the federal budget on oil by more than 90% annually, with the caretaker government clearly failing to maximize non-oil resources as promised in its government program, as well as the inflating of public expenditures in a budget." The year 2020 is due to the caretaker government's punitive employment policies (to absorb the anger of the protesters). "
    She indicated, "According to optimistic forecasts for oil prices, the deficit was estimated at approximately 50 billion dollars a few weeks ago, but now, after the collapse of oil prices, the deficit is expected to rise to nearly 100 billion dollars if public expenditures remain at their current levels, as well as a decline in foreign investment and flight of capital Local for fear of the security, political and economic situation in Iraq and the crisis due to the struggle of political parties for positions and spoils away from the demands of the people and demonstrators, which threatens to lower growth rates in multiple sectors in Iraq.
    On the most important final solutions to the worsening economic crisis, Al-Khuzaie denied that there is a viable and final solution to the current crisis, given the complexity of the economic scene, with internal and external factors that all contribute to deepening the financial crisis in the country.
    And she added, by proposing a set of appropriate solutions that can get out of the "eye of the storm" safely and with minimal losses, including a systematic and accurate re-engineering of the federal budget that takes into account the current state of oil prices on the one hand and addresses the gates of waste, corruption and waste on the other hand.
    Al-Khuza’i called for “stopping the Kurdistan region’s swallowing of southern oil and exporting its oil outside the authority of the federal government, as happened in 2019 when the region renounced the delivery of (250) thousand barrels per day to SOMO Company in exchange for Baghdad’s full commitment to hand over the full financial share to the region despite legal suits and parliamentary appeals The law (specifically, activating the text of Article 10 / second / c) of the Federal Budget Law 2019, and if the same scenario is repeated in the budget for the year 2020, this will leave a financial disaster for all of the provinces of Iraq with the region enjoying receiving Basra oil revenues and continuing to export its oil to its own account. "
    She pointed out, "Non-governmental revenues should be maximized by activating customs work, reducing corruption and current tax evasion and avoiding as much as possible from external borrowing because Iraq is absolutely unable to pay external debt in light of the decline in oil prices on the one hand and the magnitude of the current debt on the other hand."

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    Ki company: We adopt advanced systems to expand services



    2020/03/09 15:03:46


    Key Company confirmed that it provides its services with a smooth flow for millions of beneficiaries, and it did not diagnose any progress during the performance.
    An official source at the company said that the adoption of advanced systems and communication with developments in the field of electronic payment globally, has achieved a high flow in delivering services to the audience of beneficiaries.
    He pointed out that the great interaction witnessed in the current stage led us to expand services, especially those that are in harmony with the family's economy, the most important of which are advances that meet the citizen's need.
    And the possibility of holders of Master Key International obtaining advances ranging between 5-25 million dinars, and that the employees of the endogenous interior pay their salaries in the Rafidain Bank, they get the same services and advances, and they even develop the performance to serve them.

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    Presidency of the Republic: The name of the head of the transitional government has been agreed upon[/size]
    Political | 02:25 - 3/15/2020

    [...]
    [...][...]



    Baghdad - Mawazine News,
    a source in the Presidency of the Republic revealed, on Sunday, that the Iraqi political blocs agreed on the president of the transitional government.
    The source said, "The President of the Republic, Barham Salih, will appoint today the president of the transitional government Monday night or tomorrow," noting that "Naim al-Suhail, who works as deputy head of the Presidency of the Republic, is the person who has agreed upon."
    It is mentioned that the constitutional period specified for the President of the Republic to appoint the Transitional Prime Minister ends on Monday. Ended 29 / A

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    Association of Private Banks: Central bank measures contribute to an increase in electronic commerce
    [...]

    Economie

    [...]
    2020-03-17 | 09:05
    [...]






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    The Association of Iraqi private banks considered, on Tuesday, that the recent central bank measures contribute to an increase in electronic commerce.

    The executive director of the Association of Banks Ali Tariq said in a statement that Alsumaria News received a copy of it, "The current situation requires us to use electronic payment tools and stay away from cash transactions in order to avoid the Iraqi economy the problems caused by dealing in cash."







    He added that " the Central Bank of Iraq has taken a series of measures to encourage citizens to use electronic payment, including making the commission zero for the merchant when using points of sale for a period of six months starting today, in addition to providing new products and banking financial services that suit all groups of society", explaining that " An Iraqi citizen can purchase his bank card from inside and outside [...] without any commission in addition to using the official exchange rate approved by the central bank and not the exchange rate in the market.


    He stressed that "there is a quantitative importance for the owners of retail stores and large merchants using electronic payment tools, including increasing their financial revenues and merging between electronic and traditional trade together, as shop owners can display their goods on their sites and other sites such as Facebook and [...] and sell them to citizens directly and receive the goods money at the same moment While protecting the consumer and avoiding commercial fraud. "

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    Parliamentary Finance: The Global Oil Crisis "Temporary" and employees' salaries are secured for a full year

    [...]
    Sunday, March 22, 2020
    339

    Parliamentary Finance: The Global Oil Crisis "Temporary" and employees' salaries are secured for a full year

    Baghdad / Omar Abdul Latif
    The House Finance Committee has promised that the global crisis of low oil prices is temporary, stressing that the salaries of employees are secured for a whole year.
    Committee member Dr Ahmed al-Saffar told Al-Sabah that the global crisis of low oil prices is temporary and may not last more than a month or two at most, noting that the causes are known to be the outbreak of the virus "Corona" in the world and its impact on large production plants in Japan, China and Europe, which led to a reduction in oil demand, the entry of producers war prices and flooding the market with crude oil, which led to the decline in its prices.
    He said oil-exporting countries could not take further losses and could end the crisis in the next month or next.
    He added that iraq is a country with central bank cash reserves and can use domestic or external reserves, as well as means related to monetary policy, open market operations, interest rate or legal reserves of banks.
    He hinted that Iraq could also resort to external borrowing in case of emergency and crisis after it was blocked in last year's budget.

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    Anbar deputy: The person charged is acceptable from the year and the coming days will witness the features of his government
    [...]
    [...][...][...][...]



    The deputy of [...] province [...] Faisal al-Issawi, confirmed: "The Prime Minister- [...] Adnan Al-Zrafi, is acceptable to the [...] ," noting: "The coming days will witness the features of forming the new government."

    Al-Issawi said in a press statement: "Some Sunni blocs have shown great flexibility regarding the formation of the new government led by Adnan Al-Zarfi," noting that "Sunni and Kurdish forces have called on the Prime Minister- [...] expedite the presentation of his government program."

    He added: "There are serious moves to resolve things, and that the coming days will witness the features of forming the new government."

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    Government and parliamentary efforts to pay for the damage to the citizen's livelihood
    Friday, March 27, 2020


    [...]



    Government and parliamentary efforts to pay for the damage to the citizen's livelihood

    Baghdad / Huda Al-Azzawi

    The economic situation caused by the fall in the price of oil and the corona epidemic have prompted government and house officials to look for alternatives to cover the deficit and at the same time manage the country's health crisis.
    Despite the objections to the violation of the salaries of employees, the challenges force to take austerity measures to cross this stage, according to deputies, officials and specialists in economic affairs, including the pressure of government expenditures and the review of the financial privileges of some groups, while others believe that this complex crisis and the political conditions of the country, has prepared any chance to approve the general budget for fiscal year 2020.
    Dr Magda Tamimi, a member of the parliamentary finance committee, said the budget in its nature depends on two parts: oil revenues and non-oil revenues.
    "Oil revenues make up about 93 percent of the budget value, as the Iraqi economy is one-sided, as opposed to a small income from taxes, customs, state real estate and other tax funds," she said, noting that these revenues have declined significantly during the current two years and the past, due to the lack of use of electronic transactions in order to maintain opportunities for corruption.
    "Iraq has very large non-oil revenues, but the state treasury is only 10 percent, and the rest goes to the pockets of the corrupt," she said.
    "The sharp drop in oil prices, which coincided with the outbreak of the Corona virus, has paralysed most state departments, not only in Iraq but in countries around the world," she said.
    These challenges have prompted executives and legislatures to seek solutions, including recommending that certain categories of employees be cut off in order to support efforts to combat coronavirus and strengthen health services that are incapacitated, she said.
    "There are also other proposals to address the financial crisis, by going to doors that do not affect the salaries of employees, which will be discussed at the next meeting of the parliamentary crisis cell, stressing that expenditures should be compressed, and money is directed towards the provision of health services and salaries and support for the poor.
    Tamimi acknowledged that the state is having difficulty in securing these requirements and managing the funds in the next phase.
    "The dramatic fall in oil prices will have a major impact on the budget, which has been delayed because of the country's political situation," said Abdel Hussein al-Hanin, an advisor to Prime Minister Abdel Hussein al-Hanin.
    "We found it inappropriate to continue this situation, especially with the delay in forming a government that will take it upon itself to adopt a new budget for the country, which prompted the government to form a team of prime ministers to prepare a budget differently from previous budgets, based on performance and programs, and also to take into account the significant decline in oil prices," he said.
    He revealed that there is a proposal to deduct a limited percentage of the staff allowance slot and not from their original salaries, and temporarily, provided that these percentages return with the gradual recovery of oil prices, but the matter is still under discussion.
    He pointed out that the new budget, which is being prepared by the team in charge, will be free of deficits or there will be a low rate of not more than seven trillion dinars, which will be covered by the issuance of government bonds, in cooperation with

    Central Bank.
    Another view is that the adoption of bonds as a resource to meet the necessary expenditures, a proposal that is still under discussion and study, pointing out that the Corona crisis has cast a shadow on the economies of the world as a whole, and may be better in the situation of Iraq than other countries, after taking a series of measures, as the government It is tended to postpone the completion of many installment payments for loans and there is a study to activate the private sector to face this current situation through banking facilities to make way for the private sector to stimulate the economy.
    But economist Dr. Jaafar Baqir Alloush said the budget was important for the time being, and told Al-Sabah that "re-engineering public expenditures is the only access available to the monetary authorities in Iraq to get out of the crisis."
    "The fall in oil prices to levels of one-third of their value in 2018 and half of their value on the basis of the 2020 budget has created an economic environment that is faltering in the face of the implementation of the budget." With global stock indices falling and many global financial markets heading towards economic stagnation that could extend for the rest of this year, Iraq is blocking access to additional funding to meet the budget deficit."
    "There is a global crisis of low values for economic assets and a reassessment of the prices of world commodities, including oil," he said. The next recession will also set real determinants for the return of the price of oil."
    "The overall shape of the Iraqi economy is dominated by distribution, with the services and distribution sectors accounting for 42 percent of GDP and oil at about 56 percent, and the productive sectors remain the weakest," he said.
    "With such situations, quick and really available solutions are needed. The Iraqi dinar was depreciated in a controlled manner before it was forced to fall in order to ease the burden of the country's internal obligations."
    "Overcoming the crisis of low oil prices requires stopping the approval of any budget and relying on the 2019 budget by reducing 30 percent on all aspects of exchange, including salaries and privileges starting with presidencies and general managers, and private degree holders," he said. "It will be necessary to reduce the amount of concessions and prevent the combination of two deposits, and to activate non-oil revenues from duties and taxes to a minimum of 10 billion dollars," he said.
    In addition, the re-agreement with the Kurdistan Region guarantees access to oil revenues exported there, guaranteed means of payment, as well as pressure on government spending.
    It is also possible, and to talk to Jawahery, to postpone the payment of the dues of the oil companies operating in Iraq, to provide sufficient amount of money and manage it properly during the remainder of this
    General.

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