Iraqi News Highlights Tuesday Evening 3-28-23
Iraqi News Highlights Tuesday Evening 3-28-23
Tlm724 Administrator Bondlady’s Corner
Crippling Dollar Shortage Underscores Vulnerability Of Iraq’s Oil-Based Economy
March 28, 20230 Attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet
By Raya Jalabi in Sulaimaniya, Iraq Iraq is struggling to control a crippling currency crisis that has roiled the country for months, underlining the fragility of its oil-dependent economy 20 years on from the US-led invasion.
Iraqi News Highlights Tuesday Evening 3-28-23
Tlm724 Administrator Bondlady’s Corner
Crippling Dollar Shortage Underscores Vulnerability Of Iraq’s Oil-Based Economy
March 28, 20230 Attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet
By Raya Jalabi in Sulaimaniya, Iraq Iraq is struggling to control a crippling currency crisis that has roiled the country for months, underlining the fragility of its oil-dependent economy 20 years on from the US-led invasion.
Ali Mohsen al-Allaq, the new central bank governor, defended measures introduced to stabilise the monetary crisis that has led to an acute shortage of US dollars and a sharp fall in the dinar.
“We’ve focused on resolving the root of the problem and we’re seeing some positive indicators,” Allaq said in an interview, referring to central bank and government efforts to calm the panic that has taken hold since the crisis erupted in November.
This was when Iraqi’s authorities, with the US, implemented tough rules for banks as part of efforts to stamp out money laundering and surreptitious cash flows abroad.
But the package of measures had unintended consequences, including drastically cutting the dollar supply in an economy where the US currency is heavily favoured, pushing up inflation and creating hardships for Iraqis who trust neither their institutions nor their own currency.
Hamoody Ismail, 27, a personal trainer in Baghdad, said he was struggling to find the $4,300 he was due to pay in rent and business payments.
“My landlord refuses to take dinars and I’ve spent several days this week trying to find dollars.”
[ARTICLE CONTINUES]
The Parallel Dollar Market.. Negative Effects That Limit Purchasing Power
Economical 2023/03/28 Baghdad: Haider Fleeh Al-Rubaie And the mainstay of the emirate Specialists in economic affairs have warned of the dangers of continuing speculation taking place in the "parallel market" at the level of individuals' income, calling for monitoring phenomena harmful to the Iraqi economy.
Despite the successive "packages and measures" of the Central Bank, aimed at controlling the dollar's reins, and at the same time seeking to bridge the gap between the official dollar price and what is being sold in the parallel market,
this currency is still witnessing successive rises that have remarkably affected the level of per capita income, and led to clear increases in inflation rates, as a result of relying almost entirely on financing commodity imports in dollars.
The noticeable increase in the volume of the Central Bank’s sales of dollars did not constitute a factor that could affect the dollar prices in the parallel market, in which the exchange rate reached 156 thousand dinars for every 100 dollars.
Economist Dr. Sattar Al-Bayati believes, during his interview with Al-Sabah, that
“the exchange rate remains subject to speculation, which is normal according to economic theories and the opinions of financial scholars who assert that money in any country is requested for three reasons.
The first is in transactions, and the second is for reserve or hedging, and the third is for speculation.”
According to the expert al-Bayati, "the times of crises and difficult circumstances that countries are going through show the so-called war dealers, meaning that in such difficult circumstances there are personalities and institutions that work and exploit these conditions to work in the market of speculation and money laundering, as well as smuggling hard currency, which is what happens." speaker saying.
Al-Bayati also stressed the need for the successive packages and procedures of the Central Bank to accompany the security services, with the support of the judiciary, to monitor these phenomena harmful to the Iraqi economy and hold them accountable by all legal means,
warning of the dangers of the parallel market for the currency and its negative repercussions on the life of the citizen, especially since Iraq is an importer of most consumer goods and foodstuffs.
This has a negative impact on the purchasing power of low-income citizens.
In turn, the researcher in economic affairs, Dr. Ali Dadoush, indicated during his interview with “Al-Sabah” that
“the Central Bank’s measures to control the crisis of the dollar’s rise did not have an effect on the parallel market, as the successive rises in the exchange rate of the dollar in the parallel market,”
warning that this will lead to a rise in inflation rates, especially with the existence of a wide difference between the official price set by the Central Bank and the price in the parallel market, which directly affected the rise in the prices of goods and commodities in the markets, as most, if not all, are imported in dollars.
Dadoush believes that these conditions and the resulting continuous price hikes have negatively affected the salaries of employees, which, in my opinion, decreased by about 12%,
stressing the need to stimulate private banks to enter the window and buy remittance dollars according to the terms and conditions of the new electronic platform and to deal more realistically.
In import operations in terms of amount, quantity and quality, down to the main source of the goods or commodity. https://alsabaah.iq/74120-.html
The Vinicial Times: The Dollar Crisis Revealed The Fragility Of The Iraqi Economy
Information/ translation .. A report by the British Finchial Times confirmed on Monday that Iraq is fighting to control the financial crisis that has been ravaged by the country for months, which confirms the fragility of the Iraqi-based Iraqi economy after twenty years of the US invasion of the country.
The report, translated by the information agency, stated that "the governor of the Central Bank on Mohsen Al-Alaq defended the measures taken to achieve stability in the monetary currency and led to a severe shortage of the dollar and a decrease in the value of the Iraqi currency."
Al -Alaq said that we "focused on solving the root of the problem and see some positive indicators," referring to the efforts of the Iraqi government and the central bank to calm the panic that prevailed since the outbreak of the crisis last November."
The report added that "the package of procedures has resulted from unintended repercussions,
including an unintended decrease in the supply of the dollar in an economy in which the American currency prefers strongly,
which led to high inflation and the creation of difficulties for Iraqis who do not trust their institutions or their currency."
He continued, "The weak Iraq economy is almost completely dependent on the transformations in global oil prices, and
the standard oil revenues have led to the inflation of the second largest producer in the Organization of Petroleum Exporting Countries (OPEC) to more than 100 billion dollars,
although Baghdad cannot Access to funds except through the American Federal Reserve that has retained Iraq's foreign exchange reserves since the invasion. He explained that
"according to this arrangement, the Central Bank of Iraq requests its dollars from the federal reserve and sells it to two commercial lenders and exchange companies for a dinar, a process known as the daily dollar auction.
But US and Iraqi officials have long complained that widespread fraud allowed large sums to withdraw large sums From the country. And that "some banks and merchants are unwilling to reveal the details of the final recipients, while others were slow to adapt to the bases.
With many requests for transferring from Iraq's accounts in the Federal Reserve, it reduced the supply of dollars in the market.
The size of these decreased. Transfers from the average daily value of $180 million in 2022 to between 65 million dollars to $75 million this year, according to the central bank data.
For his part, Al -Alaq said that "there are signs of progress.
“We are witnessing a steady rise in the number of transactions on the digital platform and we see more Iraqi merchants registering officially to participate.
"However, the experts warned that the matter may take several months before Iraqi banks fully adapt
And years until the economy completely moved away from the informal nature and the domination of criticism." https://almaalomah.me/news/translated/الفاينيشيال-تايمز:-ازمة-الدولار-كشفت-هشاشة-الاقتصاد-العراقي
Al-Jawahiri: One Billion And 500 Million Dollars Is The Value Of Iraqi Profits After International Arbitration Against Turkey
Information / Baghdad ..The oil expert, Hamza Al-Jawahiri, affirmed, on Monday, that the decision of the Arbitration Authority of the International Chamber of Commerce in Paris contributes to supporting Iraq politically and economically, indicating that the decision will give Iraq an increase in its oil imports by about one and a half billion according to the currently circulating prices.
Al-Jawahiri said in a statement to / the information, that
"the international court’s decision regarding the lawsuit submitted by Iraq against the Turkish side forced the latter to abide by it and immediately for fear that if it violated this, it will lose the confidence of the countries that extend their oil and gas pipelines through its territory, as well as its violation For the international agreement related to the extension of oil pipelines. He added that
"the arbitration decision has positive effects that will return to Iraq, including increasing its production from 3 and a half million by/ m to four million by/ m from the financial side,
it will achieve additional resources for Iraq within one and a half and a half according to the current prices, as well The region will not be able to export one drop of oil except through the Iraqi Marketing Company Sumo
A member of the Parliamentary Oil and Energy Committee, Intisar Hassan, had returned yesterday, Sunday, the International Court’s decision to end the smuggling of Iraqi oil from Kurdistan to Turkey, with the tremendous step of the Ministry of Oil.
"The decision is an achievement calculated to the Ministry of Oil at the present time after the long period that continued in the region to smuggle oil to Turkey and Israel," Hassan said in an interview with the information agency. From the region's government, except with the approval of the central government through the Jihan port. End / 25 m
https://almaalomah.me/news/economy/الجواهري-:-مليار-و500-مليون-دولار-قيمة-الارباح-العراقية-بعد
Planning: Iraq Maintains The Pace Of Population Increase
Economical 2023/03/26 Baghdad: Ali Muwaffaq The Ministry of Planning announced new indicators that showed maintaining the pace of population increase in the country at a rate of one million people annually.
Meanwhile, the International Labor Organization confirmed that Iraq has not yet benefited from the demographic gift in employing youth and the labor force due to the weak ability to generate increasing jobs.
According to the indicators published by the Ministry of Planning yesterday, population estimates during the year 2022 reached 42,248,883 people, while population growth rates during the past year reached 2.5%.
The official spokesman for the ministry, Abdul Zahra Al-Hindawi, had previously stated that the country’s population is 41 million and 190 thousand people, according to the 2021 census, indicating that this increase is normal, and if it continues, we may reach 80 million people by 2050.
Economists believe that it is necessary to urgently conduct a general population census, in order to find out the real indicators and know the exact percentages of the economically active population, as well as identify indicators of poverty, unemployment, disability, education, health and population status indicators.
For his part, the Social Security official at the International Labor Organization, Dr. Amjad Rabi, said during a dialogue forum organized by the Ministry of Planning on the Iraqi labor market, security and social protection: that Iraq is now in the first phase of the "window of economic opportunities", but it did not enjoy the growing number of young people and forces. employed, and was unable to transform this demographic gift due to the poor ability to generate sufficient jobs to meet the increasing demand for work.
He added that the younger generation joining the labor force faces "deprivation of education", as only 51% of males and only 45% of girls are enrolled in secondary education, indicating that this educational gap leads to many costs, on the individuals themselves, society and the economy. As a whole.
For her part, the ILO Country Coordinator, Dr. Maha Kattaa, said: This forum is about education, the labor market and innovation, which is one of the priorities of the Iraqi government, especially the new government program.
She added that the choice of this topic was due to the fact that the development process today has an urgent need to look at the education process during the past years in Iraq, stressing that the link between education and the labor market is very important, because the outputs of education will enter this market.
The Ministry of Planning recently discussed the overall (final) framework of the National Development Plan (2023-2027) with the participation of a group of experts, specialists and representatives of the concerned departments, and presented a definition of the plan's priorities, which came at the forefront of its objectives, benefiting from human capital as a basic pillar. https://alsabaah.iq/73963-.html
To read more current and reliable Iraqi news please visit BondLady’s Corner:
Iraqi News Sunday AM 11-29-20
.Iraqi News Sunday AM 11-29-20
TLM724 Administrator BondLady’s Corner
How Much Does Parliament Need To Approve The 2021 Budget And What Will Happen To Its First Month's Salaries?
Time: 11/29/2020 17:12:40 Read: 2,743 times {Baghdad: Al Furat News} The Parliamentary Finance Committee revealed, on Sunday, the time period for approving the federal budget for the year 2012, while commenting on the fate of employees' salaries for the month of January.
A member of the committee, Ahmed Hajj Rashid, told Al-Furat News that "the government was slow in sending the draft budget for 2021, and Parliament needs a full month to pass the law."
Rasheed held the government "responsible for securing the salaries of employees and the lack of services for citizens by delaying sending the budget law to the parliament."
Iraqi News Sunday AM 11-29-20
TLM724 Administrator BondLady’s Corner
How Much Does Parliament Need To Approve The 2021 Budget And What Will Happen To Its First Month's Salaries?
Time: 11/29/2020 17:12:40 Read: 2,743 times {Baghdad: Al Furat News} The Parliamentary Finance Committee revealed, on Sunday, the time period for approving the federal budget for the year 2012, while commenting on the fate of employees' salaries for the month of January.
A member of the committee, Ahmed Hajj Rashid, told Al-Furat News that "the government was slow in sending the draft budget for 2021, and Parliament needs a full month to pass the law."
Rasheed held the government "responsible for securing the salaries of employees and the lack of services for citizens by delaying sending the budget law to the parliament."
He also called on the government to "process January salaries and secure them through oil money, especially after the rise in prices, and postpone other obligations," describing the salaries as "the red line and the engine for the local market."
Regarding the SOMO company, Rasheed said, "According to the company's data, the government gets more than $ 3.5 billion a month, which is sufficient to secure salaries," noting that "the government is deliberately reluctant to obtain funds for other sectors." According to him, Rashid concluded, "There are no final accounts for the year 2020 because the budget was not approved," stressing. LINK
Who Will Take Back The Frozen Money Of Iraq ?!
Pratha News Agency109 2020-11-29 Hamid Al-Mousawi After Iraq invaded Kuwait in 1990, the UN Security Council issued Resolutions 660 and 661 that decided to freeze Iraq’s funds abroad, and after 2011 a parliamentary commission was formed to account for Iraq’s funds abroad to find out that the value of these funds exceeds $ 87 billion. This is without farms. Tea and rice in Vietnam, Thailand and Sri Lanka, and potato plantations with an estimated area of more than 36 thousand hectares.
Iraq also owns hotels, clinics and tourist cities in Italy, Spain, France and Brazil, and most of these tourist facilities are leased until 2049 ..
And there are contracts concluded by Iraq in the eighties with Italy for the establishment of a naval war fleet of 11 warships, worth 1.5 billion dollars. Iraq paid these funds to Italy, but to this day it has not received these ships.
The World Bank reports revealed that Iraq had fish lakes in Somalia and Mauritania, in addition to an oil refinery in Nigeria, and all these funds and more were given to Iraqi figures affiliated with the former regime and operate according to the principle of foreign investments.
It is also mentioned that after the US invasion of Iraq in 2003, Saudi Arabia confiscated an Iraqi oil pipeline that passes through Saudi Arabia to the Red Sea and a floating port that was built with Iraqi money, under the pretext of compensating Saudi Arabia for the bombing of Riyadh with Iraqi missiles .. It also considered that Syria itself was damaged by Iraq and confiscated An Iraqi oil pipeline heading to Banias .. As for Turkey, it has put its hand on massive Iraqi investments in the Mediterranean, under the pretext that its interests will be damaged by the American invasion.
Despite the huge size of these funds and their profits since 2003, the weakness of the Iraqi government and its weak diplomatic and legal work were behind its failure to obtain these properties to this day.
http://burathanews.com/arabic/articles/381482
Statement: Mustafa Al-Kazemi, Prime Minister And Commander In Chief Of The Armed Forces,
November 29 , 2020 Based on our keenness to impose law, consolidate the state’s values, and undermine everything that would escalate tensions between the people of the same country and threaten the state and its institutions, and because we find it necessary to impose the law in a way that secures and protects peaceful demonstrators, and separates them from the terrorists, the unfortunate events that took place in that Qar finally calls for a responsible stance on all levels.
Accordingly, we decided to form a high-level committee from the central government entitled (The Emergency Crisis Team) that would grant administrative, financial and security powers to protect peaceful demonstrators, state institutions, and private property, block the road to everything that would sow discord, and make peaceful demonstrators confronting the state. Since the government assumed its responsibility, it has been keen to support peaceful protest and support the just trends demanded by the youth of Iraq.
We call upon our people and our conscious youth to unite their efforts to build the country, for an Iraq fit for Iraqis.
Mustafa Al-Kazemi, Prime Minister and Commander in Chief of the Armed Forces,
29 - November – 2020 https://pmo.iq/press2020/29-11-202001.htm
Political Disputes Plague The Federal Court Law
Sunday 29th November 2020 165 Baghdad: Hazem Muhammad Habib and Shaima Rashid Political disputes are still going on over the Federal Court Law and its upcoming amendments. While the House of Representatives refused to withdraw its powers by ratifying the members of the "Federal" and transferring that authority to the Presidency of the Republic, the Parliamentary Legal Committee affirmed that "without the Federal Court Law, there will be no elections due to its close association with the law."
Member of the Parliamentary Legal Committee, Hussein Al-Oqabi, said in an interview with Al-Sabah, that “nominating members of the Federal Court is exclusively within the jurisdiction of the judiciary, and voting for its members takes place within the House of Representatives, and we refuse to withdraw the powers of the Council in approving its members,” indicating that “choosing Court members are subject to political consensus ».
Al-Oqabi said: “The House of Representatives received the draft Federal Court bill from the Presidency of the Republic, and one of its articles stipulates the withdrawal of the jurisdiction to certify members of the court from the House of Representatives, and granting authority to the Presidency of the Republic to approve the names that are nominated by the Supreme Judicial Council,” stressing that “ Parliament will not accept this law at all », and explained that« the lack of a quorum for the members of the current Federal Court created a legal and constitutional vacuum, as it disrupts many laws and legislation ».
Al-Aqabi pointed to a legislative defect in Federal Court Law No. 30 of 2005, after the court canceled (Article Three) of the law, as there was difficulty in completing the court’s quorum.
He added, "We need to amend this law and create a mechanism to nominate judges," pointing out that "this court is a supreme body, and one of the sensitive institutions, and voting for its members must be within a council."Representatives ». LINK
The High Exchange Rate Of The Dollar In The Iraqi Market
Pratha News Agency131 2020-11-29 The exchange rate of the dollar rose in the main stock markets for the second day in a row, while it stabilized in the local markets today, Sunday (November 29, 2020)
The Kifah Stock Exchange recorded 125,500 dinars against 100 US dollars, while yesterday, Saturday, prices recorded 125,300 dinars per 100 dollars. As for the exchange rate on the local market, it stabilized where it was Sale price: 126,000 dinars per $ 100. Purchase price: 125,000 dinars per $ 100
http://burathanews.com/arabic/economic/381464
To read more current and reliable Iraqi news please visit BondLady’s Corner:
BGG Comments and Dinar Updates 7-23-20
.BGG Comments and Dinar Updates 7-23-20
BGG ~ This is probably more accurately translated as “Ghost employees”, a corruption issue for a long time now and one of the big reasons no one wants to just give them money for “salaries”.
It would all go to these corrupt politicians via this sham payroll scam.
The good news – the MoF is going after them in an open, honest, legal fashion.
Minister Of Finance: 300 Thousand “Space” Employees In Iraq
Posted on July 23, 2020 by BGG
Ali Allawi -AFPIraqi Finance Minister Ali Allawi reported that there are about 300,000 “space” employees in Iraq, warning that economic problems may spark a state of insecurity in the country.
And the Financial Times quoted Allawi as saying that radical reform is the only way to avoid a “catastrophe” for the oil-dependent country, noting that all that can be done is to refer to the “catastrophe” facing the country, if the path continues.
BGG Comments and Dinar Updates 7-23-20
BGG ~ This is probably more accurately translated as “Ghost employees”, a corruption issue for a long time now and one of the big reasons no one wants to just give them money for “salaries”.
It would all go to these corrupt politicians via this sham payroll scam.
The good news – the MoF is going after them in an open, honest, legal fashion.
Minister Of Finance: 300 Thousand “Space” Employees In Iraq
Posted on July 23, 2020 by BGG
Ali Allawi -AFPIraqi Finance Minister Ali Allawi reported that there are about 300,000 “space” employees in Iraq, warning that economic problems may spark a state of insecurity in the country.
And the Financial Times quoted Allawi as saying that radical reform is the only way to avoid a “catastrophe” for the oil-dependent country, noting that all that can be done is to refer to the “catastrophe” facing the country, if the path continues.
Allawi has previously studied at Harvard University, and has taught at the Massachusetts Institute of Technology (MIT).
The Iraqi Minister of Finance, warned of “grave security consequences” in the event that the country’s economy is not radically restructured, at a time when the crisis of the Corona Virus is struck, and its reflection on commercial activities and the damage of the collapse of oil prices to state revenues, indicating inflation spending and a monthly wage bill The value of $ 5 billion for the massive public payroll.
Concerning “space” employees, that is, those who do not exist in the state’s departments, while these influential people receive salaries, Allawi explained that the issues that were buried because of the large and growing oil revenues are now evolving, and this includes payments for an estimated 300,000 “ghost” or fictional employee ” “.
The price of crude oil has fallen to more than half compared to last year 2019, as it dealt a blow to the financial position of the second largest producer in OPEC, “Iraq”.
Allawi believed that the economy, if not radically restructured in a highly coherent and well-implemented medium-term program, could have truly severe security consequences.
According to the Oxford Institute for Energy Studies, Iraq’s revenue from oil exports fell from 6.1 billion dollars in January, to their lowest levels at 1.4 billion dollars last April.
While the collapse of world oil prices has harmed the Iraqi economy before, Allawi says that Baghdad “can no longer” rely on prices to bounce again, arguing that this may spur reforms, confirming that there is “increasing recognition” that the country is moving to an environment with prices Oil is relatively low, and an alternative to restructuring public financial resources should be found to take into account this new normal.
The 73-year-old minister is part of a transitional government appointed to steer Iraq toward new elections, after mass protests against the institution toppled the previous government.
The country’s poverty rate is expected to rise to 31.7 percent this year, from 20 percent in 2018, as the Corona pandemic crisis pushes 4.5 million Iraqis below the poverty line, according to a new joint assessment by the government, the United Nations, the World Bank, and Oxford University.
According to the World Bank, if oil prices remain below $ 30, Iraq will shift from having a fiscal surplus to a deficit equal to more than a quarter of its gross domestic product.
Analysts said the government can take advantage of $ 68 billion in foreign reserves to cover dollar bills, such as imports and debt service, and is expected to borrow $ 18 billion locally and abroad to cover government wages for the next few months.
On the subject of the loan, Allawi said that Iraq has regular and intense discussions with the International Monetary Fund, adding that Baghdad may apply for some budget support, describing the bill of “inflated wages” is to some extent a “legacy of Iraq’s recent violent history”, and that 40 To 45 percent of public sector employees in the vast Iraqi security forces.
Rudaw.net https://www.rudaw.net/arabic/business/20072020?fbclid=IwAR3oUiUVILmKpwIBAKbkCBVbZkOLUFIrBJfgJuwJrGQlLJ3keXD_TmXZwDA
BGG ~ This is probably more accurately translated as “Ghost employees”, a corruption issue for a long time now and one of the big reasons no one wants to just give them money for “salaries”.
It would all go to these corrupt politicians via this sham payroll scam.
The good news – the MoF is going after them in an open, honest, legal fashion.
The Central Bank Announced The Withdrawal Of The License Of A Brokerage Firm To Buy And Sell Foreign Currencies Because Of Its “Violation Of Instructions”
Posted on July 23, 2020 by BGG
The bank said in a statement received by the (Independent) today that:
(1) “given the violation of the Al-Durr brokerage company for buying and selling foreign currencies, the provisions of the instructions for organizing the work of the brokerage firms and the purchase of foreign currencies, it was decided to withdraw the company’s license.”
The bank added,
(2) “It was also decided to confiscate the letter of guarantee deposited with this bank amounting to 50 million dinars,” calling on the Ministry of Commerce to “cancel the establishment certificate granted to it in addition to removing the company name from the records and providing the Central Bank with a certified liquidation letter.”
The Central Bank of Iraq was established as an independent bank under its law issued on the sixth of March of the year 2004, as an independent body, and is responsible for maintaining price stability and implementing monetary policy, and supervises 10 commercial banks, 26 private banks and 16 Islamic banks, in addition to 19 foreign banks, as well About 6 financial institutions and 31 money transfer companies. LINK
BGG ~ Listen folks…
.BGG ~ Listen folks…
Posted on March 5, 2020 by The Dinar Observer
Think about all this for just a sec…
They have had several Shia dominated government’s that were corrupt and not getting anything done for anyone but themselves… (Maliki, Abadi and Mahdi).
They were headed for another Shia dominated government with even less accountability than in the past.
1) The protesters didn’t like this guy.
2) The Kurds didn’t like him.
3) Sadr didn’t like him.
BGG ~ Listen folks…
Posted on March 5, 2020 by The Dinar Observer
Think about all this for just a sec…
They have had several Shia dominated government’s that were corrupt and not getting anything done for anyone but themselves… (Maliki, Abadi and Mahdi).
They were headed for another Shia dominated government with even less accountability than in the past.
1) The protesters didn’t like this guy.
2) The Kurds didn’t like him.
3) Sadr didn’t like him.
4) The Iraqi President of the Republic, Barham Salih, very nearly resigned over having to “nominate” him in the first place.
There are is a very good chance we just dodged another bullet with the developments of last Sunday.
If he wasn’t the right guy to get this done – he wasn’t the right guy.
Instead of always thinking THIS was some kind of delay…
If these protests continue and we get a real reformer in there, this could still be a huge win for us… especially with Iran getting “blacklisted” like they are.
There will be very little latitude for Iraq to continue doing business with (and selling US Dollars to) a country under such international scrutiny.
The end result? Less Iranian influence and not nearly as much need for the CBI / IQD / currency auctions. The ending of these auctions will likely usher in true currency reform in Iraq.
BGG - "The Golden Unicorn"
.BGG - "The Golden Unicorn"
Dinar Updates - Dinar News Blog
BGG ~ Once the US gets serious about putting pressure on Iran through the CBI (of Iraq), it could well mean good news for us… with any luck at all.
The end of the CBI currency auctions, which is the main door through which Iran transports US dollars into their economy, means the beginning of economic and currency reform in Iraq. This scenario may turn out to be the “Golden Unicorn” for us.
The Central Bank of Iraq file … an employee reveals the hidden:
BGG - "The Golden Unicorn"
Dinar Updates - Dinar News Blog
BGG ~ Once the US gets serious about putting pressure on Iran through the CBI (of Iraq), it could well mean good news for us… with any luck at all.
The end of the CBI currency auctions, which is the main door through which Iran transports US dollars into their economy, means the beginning of economic and currency reform in Iraq. This scenario may turn out to be the “Golden Unicorn” for us.
The Central Bank of Iraq file … an employee reveals the hidden:
The Central Bank of Iraq file ... employee reveals the hidden Baghdad / National News Center – An employee at the Central Bank of Iraq revealed to the station that the named Hassan Nasser Jaafar al-Lami is Qasim Soleimani the financial in Iraq, and one of the main officials in financing Iran and Hezbollah in foreign currency, and that he entered Lebanon on the sixth of last December.
According to press sources, “On last December 2, an Arab satellite channel received a call from Baghdad from an Iraqi woman saying that she works in the Central Bank of Iraq and in possession of evidence condemning Iraqi figures who illegally withdrew dollars from the aforementioned bank before escaping abroad to finance groups linked to Iran Classified as a terrorist organization in the United States, including Hezbollah and even ISIS groups.
And after “multiple contacts with the woman and checking the documents and her identity, a team from the satellite channel met in one of the neighboring countries to preserve the confidentiality of the meeting and preserve us for her security.”
The lady indicated that “the corruption that occurred previously, present, and independently was caused by the governor of the Central Bank, Ali Al-Alaq, who has withdrawn powers,” noting that “there are two general managers who have full powers. ”
And she continued that “there are three heads of corruption in the central bank who consider Iran’s arms in Iraq to control the central bank, the first of which is Hamad Al-Musawi, the owner of Al Hoda Bank, Ali Ghulam, the owner of the Bank of the Middle East, and Hassan Nasser Jaafar al-Lami, the owner of the Bank of Iraq and across Iraq.”
The sources pointed out that “the Iraqi lady said that the Federal Bank in New York asked the Iraqi Central Bank to prevent Hassan Nasser and the owners of other banks from selling foreign work, specifically the dollar, because of charges against them such as money laundering and the smuggling of dollars for terrorist purposes.”
And she continued, “Hassan Nasser Jaafar Al-Lami has this Noor Bank of Iraq and across Iraq, this is a dangerous man and he has a strong ability to sell dollars and foreign work abroad, confirming that he is one of the ISIS financiers.”
She pointed out that “White House sources assured her that the US administration has started investigations with senior influential employees of the Central Bank of Iraq after it became clear that pro-Iranian banks are trying to break US economic sanctions by smuggling the dollar to Iran and its allies in the region.”
She added that “Al-Lami hid all the documents in the bank and forged them,” noting that she “got the real documents by helping employees inside the bank.”
She noted that Al-Lami “came to Lebanon during this month and met Hezbollah to negotiate how to fund them from Iraqi money.”
Nnciraq.com https://nnciraq.com/21646/amp/