Iraq Economic News and Points to Ponder Thursday Evening 11-9-23
Iraq Economic News and Points to Ponder Thursday Evening 11-9-23
Tlm724 Administrator Bondlady’s Corner
The Central Bank Announces A Decline In Inflation Rates For The Current Year
Thursday 09, November 2023 | Economical Number of readings: 447 Baghdad / NINA / The Central Bank of Iraq revealed inflation trends in Iraq and the region, confirming lower inflation rates for this year compared to last year.
The Department of Statistics and Research at the Central Bank of Iraq confirmed in a statement that its inflation rate decreased from (4.4%) in August 2022 to (3.7%) in August 2023, indicating that inflation rates are within acceptable limits compared to some countries in the region such as Iran (46.0%) and Turkey. 57.0%), the United Arab Emirates (3.4%), and the Kingdom of Saudi Arabia (2.4%)./End2
https://ninanews.com/Website/News/Details?key=1088812
Al-Sudani: The Recovery Of Those Convicted On Corruption Charges Will Be A Standard For Iraq’s Relations With Other Countries
Politics breaking Corruption in Iraq Sudanese 2023-11-08 Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani confirmed on Wednesday that the recovery of those convicted on corruption charges will be a standard for Iraq’s relations with the rest of the countries.
This came during his chairmanship of the seventh regular meeting of Iraqi ambassadors represented in Arab and foreign countries, in the presence of the Minister of Foreign Affairs and the senior staff in the ministry, according to a statement received by Shafaq News Agency.
Al-Sudani reviewed Iraq's official position regarding the recent regional developments, most notably the Palestinian issue, stressing communication with the Arab and international circles in order to achieve a ceasefire and provide our Palestinian people besieged in Gaza with humanitarian aid.
He stated that Iraq's position was consistent with the historical position of the people, religious authorities and political leaders,
stressing to the Iraqi diplomatic missions the need to reveal Iraq's clear position on the Palestinian issue, which we consider an issue of principle and belief.
The Prime Minister also reviewed the most prominent achievements in the government program, in terms of services, confronting poverty and unemployment, combating corruption, and reforming the economic file, as well as reviewing the promising and future opportunities that the government will invest in the oil, strategic industries, and gas sectors, where Iraq will enter the market. global gas and will achieve self-sufficiency within 3-5 years, pointing to the obstacles that have faced the government’s work since it took office until the present day, and the methods it has followed to confront them.
Al-Sudani provided a set of directives to the ambassadors and diplomatic missions, in order to strengthen Iraq's foreign relations, reflect Iraq's image abroad and highlight its historical and economic role and importance.
He also directed the necessity of continuous and direct communication with the Iraqi communities. He stressed that
one of the duties of diplomatic missions abroad is to connect communities with their country, and to encourage creative artists and intellectuals to communicate and provide their services to Iraq.
His Excellency directed the need to develop the work mechanisms of the Ministry of Foreign Affairs, and for the selection of ambassadors to be based on experience, professionalism, and competence, and not on the basis of party affiliation. The Prime Minister indicated that
Iraq is seriously seeking to recover those convicted on corruption charges and its stolen funds, and has made this a criterion for strengthening its relations with countries.
He also referred to Iraq’s representation in international organizations, which must be parallel with Iraq’s financial contributions and achieving the country’s interests, through This is international representation.
Report: China Has Lent Amounts Exceeding One Trillion Dollars Within The “Belt And Road” Framework
November 7 14:43 Information/follow up.. A report published this week estimated that China has lent amounts totaling more than $1 trillion under the Belt and Road Initiative and that about 80 percent of these loans are to countries experiencing financial difficulties.
Beijing says that more than 150 countries from Uruguay to Sri Lanka are participating in the Belt and Road Initiative, a huge project launched by China under the leadership of Xi Jinping ten years ago to develop international corridors and infrastructure.
Since then, China has granted huge loans to finance the construction of bridges, ports, railways and highways in low- and middle-income countries.
However, more than half of these loans have now entered the stage of repayment of the principal amount, according to a report published on Monday by the EdData Research Institute at the University of William End Mary in the US state of Virginia.
This report expected this percentage to rise to 75 percent by the end of the decade.
By analyzing data on Chinese financing for about 21,000 projects in 165 countries, the Aid Data Institute estimated that Beijing has granted aid and loans “close to $80 billion annually” to low- and middle-income countries.
By comparison, the United States gives $60 billion annually to these categories of countries. The report stated,
“Beijing is playing an unusual and uncomfortable role, which is that it has officially become the largest debt collector in the world.”
“The total debt owed — including principal but excluding interest — by borrowers from the developing world to China is at least $1.1 trillion,” the report noted.
The EdData Institute estimates that “80 percent of China’s loan portfolio abroad in developing countries currently supports countries in financial distress.”
Supporters of the Belt and Road Initiative say it brings resources and growth to the countries of the South.
His opponents denounce the ambiguity surrounding the costs of facilities built by Chinese companies.
Some countries, such as Malaysia and Burma, are currently trying to renegotiate their agreements with Beijing to ease their financial burdens.
The initiative also faces criticism due to its huge carbon footprint and environmental damage caused by large infrastructure projects.
America Says It Is Following The Resumption Of Kurdistan Oil Exports And The Draft Oil And Gas Law
Kurdistan Women Oil and gas law Cihan Turkish script 2023-11-07 Shafaq News/ The Ministry of Natural Resources in the Kurdistan Regional Government announced, on Tuesday, that an American diplomatic delegation confirmed that Washington is closely following the process of resuming oil exports through the region’s pipeline to Turkey and legislating the oil and gas law.
A statement from the ministry, received by Shafaq News Agency, said that the Kurdistan Minister of Electricity and Natural Resources, Kamal Muhammad Salih, received today, Tuesday, the American Consul General in Erbil, Mark Straw,
pointing out that the new American Consul expressed his pleasure to invest in the electricity, energy and oil sector.
The statement indicated that the American consul confirmed regarding the issue of resuming oil exports (via the region’s pipeline to the Turkish port of Ceyhan) and the issuance of the draft federal oil and gas law that his country is closely following the process of resuming the region’s oil exports, indicating that Washington knows that suspending exports has negative effects on the region’s oil exports. Revenues of the region and its public sector.
Straw added, according to the statement, that addressing the revenue problem and approving the oil and gas law are among the priorities of his country's policy and programs.
The statement indicated that Minister Saleh expressed his thanks for America's role in giving importance to efforts to
resume the region's oil exports,
follow up on addressing oil and gas problems, expand investment,
and approve the federal oil and gas law with the participation of the Kurdistan Region.
Minister Of Interior: 98% Of The Smuggling Of Oil And Petroleum Derivatives Has Been Eliminated
Minister of Interior Abdul Amir Al-Shammari Economy News – Baghdad Today, Tuesday, the Minister of Interior, Abdul Amir Al-Shammari, announced the expulsion of 153 officers and 899 members from the service, while confirming work to end dealing with paper IDs and direct electronic visas for foreigners soon.
Al-Shammari said in a speech during his meeting with the directors of the satellite channels and in the presence of the head of the Media and Communications Commission and the head of the Iraqi Journalists Syndicate, that
“153 officers and 899 members were expelled by the ruling of the Internal Security Forces Court in the year 2023.” ‘
He added, "33 million and 200 thousand Iraqis registered and received the national card," stressing,
"We are working to end dealing in paper IDs in 2025, and electronic visas for foreigners will also be implemented soon."
He continued, "Speed radars will soon be connected to the Yusufiyah Expressway, Al-Dora Expressway - New Baghdad, and Al-Shuala Expressway," noting that
"the experiment with the five smart traffic lights in Baghdad will fully include Al-Karkh and Al-Rusafa." He pointed out that "the Civil Defense began building 100 civil defense centers and purchased more than 130 fire engines during this year, and we established a training center for the National Defense."
He stressed that "98 percent of the smuggling of oil and petroleum derivatives has been eliminated, and a fund has been established and the development of the Internal Security Forces through fees and imports," pointing out that "37 thousand policemen have been contracted on a contract basis and we graduated from the first session with ages from 18 to 25 years."
With a salary of 500 thousand dinars for 3 years during the year 2023.” He pointed to "developing human resources and addressing slackness in construction through contracts."
Views 45 11/07/2023 - https://economy-news.net/content.php?id=37344
Central Bank: Inflation rates in Iraq are low and their percentage is acceptable compared to countries in the region
Thursday, November 9, 2023 Baghdad/National News Center Today, Thursday, the Central Bank of Iraq announced the decline in inflation rates in Iraq, indicating that their rate is acceptable compared to countries in the region.
The Department of Statistics and Research at the Central Bank of Iraq confirmed, in a statement received by the National News Center, that “the inflation rate in it decreased from (4.4%) in August 2022 to (3.7%) in August 2023, indicating that inflation rates are within acceptable limits compared to In some countries in the region, such as
Iran (46.0%),
Turkey (57.0%), the
Emirates (3.4%), and
Saudi Arabia (2.4%).”
https://nnciraq.com.goog/236034/
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points to Ponder on Courage:
To see what is right and not do it, is want of courage -- Confucius
If we survive danger it steels our courage more than anything else -- Niebulur
Physical courage which despises all danger, will make a man brave in one way -- Moral courage, which despises all opinion -- will make a man brave in another -- The former would seem most necessary for the camp; the latter for the council; but to constitute a great man -- BOTH ARE NECESSARY -- Colton
Courage consists not in blindly overlooking danger; but in seeing and conquering it --Richter
True courage is not the brutal force of vulgar heroes, but the firm resolve of virtue and reason -- Whitehead