Iraq Economic News and Points to Ponder Friday AM 9-15-23

An Understanding Looms On The Horizon Between Iraq And Iran To Use Currencies Other Than The Dollar In Commercial Transactions

September 14, 2023  Baghdad/Al-Masala Al-Hadath: The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed that there is an understanding on the horizon with Iran to use a basket of foreign currencies other than the dollar to settle commercial transactions between Iraq and Iran.

Saleh said in statements followed by Al-Masala, that allowing an international means of payment other than the dollar and identifying trade flows in a transparent and highly governance manner with the Islamic Republic of Iran within the international trading system will undoubtedly contribute to the stability of the exchange market in Iraq, in addition to enhancing the stability of the external payments system in our country. It leads to high stability in trade and financial movements without negative monetary impacts on our national economy.

He added: Therefore, there is a high understanding on the horizon in using a basket of foreign currencies other than the dollar to settle commercial transactions with the neighboring country [Iran], without this constituting an international obstacle, and at the same time providing the desired monetary stability in our country, especially the foreign currency market.

He pointed out that it is clear that there is a correlation between trade with the Islamic Republic of Iran on the part of the Iraqi private sector and the need to have an international payment currency to settle trade exchange, at a time when there is a ban by the United States in the field of financial transfers that was imposed on Iran more than a decade ago. , and is subject to high degrees of stringency.

He continued: Such requirements led, over time, to dealing with commercial settlements in foreign currency, but from outside the official markets, especially in the demand for cash dollars on the local black market.

He concluded his speech by saying that it has become logical to find an alternative international monetary medium for trade settlements with the neighboring country instead of the United States currency. The alternative monetary medium is used in a transparent and clear manner before the international financial community and at the same time spares the local exchange market from the pressures of international restrictions, their complications and their effects on our country’s economy.

https://almasalah.com/archives/66534

The US State Department Welcomes The Discussions Between The Federal Government And The Region Regarding The Financial File

September 15, 2023  Baghdad/Al-Masala Al-Hadath: The US State Department welcomed, on Friday, the ongoing discussions between the Kurdistan Regional Government and the federal government regarding the monthly salaries of employees and workers in the public sector in the region and Kurdistan’s share of the financial budget.

Regarding the visit made by a delegation from the regional government yesterday, Thursday, to Baghdad, headed by the region’s Prime Minister, Masrour Barzani, and his deputy, Qubad Talabani, the US State Department told Kurdish media, “It welcomes the continuation of discussions between the Kurdistan Regional Government and the central government in Baghdad.”

The US State Department called on officials in both the federal government and the Kurdistan region to solve problems related to the budget, based on the constitution, and in a way that is in the interest of all Iraqis.

The regional government delegation visited Baghdad yesterday, Thursday, with the aim of holding discussions with the federal government regarding the monthly salaries of employees and workers in the public sector in the region and Kurdistan’s share of the budget.

In addition to its head, the delegation included: Qubad Talabani, Deputy Prime Minister of the region, Awat Sheikh Janab, Minister of Finance and Economy, Omid Sabah, Chief of the Cabinet Office, and Amanj Rahim, Secretary of the Council of Ministers.

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced that the Kurdistan delegation had put forward two proposals, one short-term and the other long-term, to provide financial dues to Kurdistan, indicating that “the long-term solution may require legislation and some changes and amendments to some laws, indicating that they will work on it later.” As for the current solution, it is linked to the Iraqi Council of Ministers meeting next Sunday, September 17.”

He assured Barzani that there would be good news and a solution to the current problems as soon as possible.   https://almasalah.com/archives/66582

Al-Sudani Discusses With Barzani The Budget File

Politics,  09/14/2023 Number of readings: 282  Baghdad - Iraq Today:  Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani received a high-ranking Kurdish delegation headed by the Prime Minister of the Kurdistan Regional Government, Masrour Barzani.

The Prime Minister's Media Office stated, in a brief statement, that "Al-Sudani received the Prime Minister of the Iraqi Kurdistan Regional Government, Masrour Barzani, the Deputy Prime Minister of the Regional Government, Qubad Talabani, and their accompanying delegation."

He added, "The delegation includes Deputy Prime Minister of the Regional Government Qubad Talabani, Minister of Finance Awat Sheikh Janab, Secretary of the Council of Ministers Amanj Rahim, and Chief of the Regional Office Omid Sabah."  LINK

Barzani Is Optimistic: We Presented Two Proposals To Baghdad And The Solution At The Cabinet Meeting Next Sunday

Time: 09/15/2023 Read: 1,469 times    {Politics: Al-Furat News} The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced that he had put forward two proposals to secure the receipt of financial dues to the region.

In his speech during a press conference held at Baghdad International Airport on Thursday-Friday night, in the presence of representatives of the Kurdistan blocs in Parliament, Masrour Barzani said: “We came as a delegation of the Kurdistan Regional Government to defend the constitutional rights of the people of the Kurdistan Region.”

Barzani expressed his thanks to the Kurdistan blocs that showed support and support for their government, with one side and one position in defense of the entity of the Kurdistan region, hoping that they will be able to provide all the financial rights and entitlements to the citizens of Kurdistan.

Masrour Barzani stated that the delegation held extensive and lengthy discussions with the Prime Minister, the President of the Republic, the Speaker of Parliament, and leaders of other political parties.

He revealed that the Kurdistan Region delegation had put forward two proposals, one short-term and the other long-term, to provide financial dues to Kurdistan.

He explained that the long-term solution may require legislation and some changes and amendments to some laws, indicating that they will work on it later.

As for the current solution, it is linked to the Iraqi Council of Ministers meeting next Sunday, September 17th.

Masrour Barzani explained that all the political parties they met with expressed their willingness to support the proposals of the Kurdistan Region delegation to be able to provide the salaries of Kurdistan Region employees for the current year. He reassured that there would be good news and a solution to the current problems as soon as possible. LINK

Advisor To The Sudanese: We Will See Satisfactory Solutions With The Region Soon

Time: 09/14/2023  Read: 1,664 times  {Politics: Al-Furat News} Hisham al-Rikabi, media advisor to the Prime Minister, Muhammad Shia al-Sudani, confirmed that the current crisis between Baghdad and the Kurdistan region will witness “satisfactory solutions for all parties soon,” indicating the presence of a will among the parties of the coordination framework and the state administration coalition to overcome obstacles.

Al-Rikabi said, in a press statement today, Thursday, that a meeting took place between Prime Minister Muhammad Shia al-Sudani and Prime Minister of the Kurdistan Regional Government, Masrour Barzani, and the two sides stressed the necessity of resolving the legal and financial problems between the two governments in accordance with the constitution and the law. 

He added, "The government is continuing to find a solution to this issue that has been pending for many years, and there is seriousness on the part of the Iraqi government in finding radical solutions in dealing with the Kurdistan region."

Al-Rikabi stated that the Prime Minister stated during the meeting that “the government worked and is still working to ensure that the requirements for a decent living for Iraqi citizens are not affected, whether in the Kurdistan Region or the rest of the governorates, while resolving the legal and administrative problems in a way that is consistent with the requirements of the legal and constitutional position. Therefore, there is a real will to Overcoming the current dispute and crisis.

He added, "We will see satisfactory solutions for all parties soon."

The media advisor to the Prime Minister pointed out that there are “many problems, including legal and technical ones,” indicating that they “must be solved in a realistic and tangible way so that the ball does not happen again and obstacles, problems, and disagreements arise related to the issue of salaries and other issues related to the Kurdistan Region, as well as the legal position.” related to the delivery of oil and other resources.”

He continued: "There are positions from the political forces in the coordination framework and the state administration coalition to overcome these obstacles in a realistic manner that satisfies all parties in the Kurdistan region and Baghdad."

Hisham Al-Rikabi pointed out that the Iraqi government views the issue of Kurdistan region employee salaries as “a national and moral entitlement towards its citizens in Kurdistan,” noting that Baghdad is “keen to” take measures to ensure that the law is not violated and the issue is resolved legally because the continuation of this problem will have consequences. "It may harm the rights of citizens."

He continued his speech by saying: "We will soon find clear and frank measures that are consistent with the spirit of the law and the texts of the constitution, which represents all segments of the Iraqi people."

He stressed the continuation of communication between the two sides, adding that "when the existing obstacles are overcome, there will be clear and frank measures by the government."

He went on to say: “The Iraqi government handed over sums of money to the Kurdistan Regional Government in the form of loans until the issue of resolving all matters related to the export of oil and handing it over to the federal government is resolved,” stressing “the presence of governmental efforts and political forces on the need to find solutions that will end this issue so that The situation of the employees of the Kurdistan region is the same as the situation of the employees of the rest of Iraq.”

He explained that there is "a determination to alleviate the crisis and alleviate the suffering of the citizens of the Kurdistan Region," adding that "clear and frank solutions and a will must be found on the part of the Kurdistan Regional Government to deal with the position of the Iraqi government in order to completely resolve this issue."    LINK

Points to Ponder on Character: 

Never does a man portray his own character more vividly, than in his manner of portraying another -- Richter

Character and personal force are the only investments that are worth anything -- Whitman

Characters do not change -- Opinions alter , but characters are only developed --Benjamin Disraeli

As they, who for every slight infirmity take physic to repair their health, do rather impair it; so they, who for every trifle are eager to vindicate their character, do rather weaken it -- J Mason

Our character is but the stamp on our souls of the free choices of good and evil we have made through life --John Cunningham Geikie

Truthfulness is a corner-stone in character, and if it be not firmly laid in youth, there will ever after be a weak spot in the foundation -- J Davis

Character is the result of two things: Mental attitude and the way we spend our time --Elbert Hubbard