Iraq Economic News and Points to Ponder Tuesday AM 11-28-23

Tlm724 Administrator Bondlady’s Corner

Adviser To The Prime Minister: The General Company For Carbon Economics Will Provide Significant Financial Funding To Iraq

 Economy     Yesterday, 18:05   Baghdad - IA  Advisor to the Prime Minister for Technical Affairs, Muhammad Sahib Al-Daraji, revealed the goal of forming a public company for carbon economics based on the direction of Prime Minister Muhammad Shiaa Al-Sudani, indicating that work in this field will provide significant financial funding for Iraq after implementing environmentally friendly projects.

Al-Daraji said to the Iraqi News Agency (INA):  “Iraq is a signatory to the Paris Climate Agreement, which stipulates that carbon emissions must be reduced around the world, and  in Iraq our carbon production is basically low, and  the agreement required countries with increased carbon emissions to buy their bonds from countries capable of starting.”

With projects that reduce carbon production, such as Iraq, given that the atmosphere around the world is the same and every country does its best to reduce emissions.”

 He added,  "Achieving this goal for Iraq requires implementing environmentally friendly projects, including using gas to generate electricity, as well as generating it through solar energy instead of diesel, as well as expanding tree planting and other projects, as they will reduce carbon emissions.

In return, this work can be priced in the form of bonds sold to countries."

“It is unable to reduce carbon emissions due to its existing projects and therefore buys these bonds from Iraq and other countries that contribute to reducing emissions around the world.”  He continued,

"A committee was formed under my leadership and began the first project at this level, which was extending a pipeline from a gas station to an electricity station.

 The project was implemented by a Canadian company at its own expense after contracting with the Ministry of Oil in exchange for buying carbon bonds from Iraq."  He stressed,

"On this basis, a proposal was presented to establish the General Company for Carbon Economics, affiliated with the Ministry of the Environment and carrying out the task of trading in carbon bonds.

 The Prime Minister approved it, and this company was formed. The work requires the implementation of more environmentally friendly projects, and Iraq's success in achieving the goals that we have indicated will save sums of money." Very large".    https://www.ina.iq/198122--.html

Including Digital Transformation And Fighting Corruption.. The Prime Minister Sets The Most Prominent Goals Of The Five-Year Plan

 Political     11-26-2023, Baghdad – conscious   Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani set the most prominent goals of the five-year development plan, while

indicating work to complete the establishment of a council that supports the private sector.

The Prime Minister’s Media Office stated, in a statement received by the Iraqi News Agency (INA), that

“Prime Minister Muhammad Shiaa Al-Sudani sponsored the first conference of the five-year national development plan, which was held by the Ministry of Planning in cooperation with the United Nations Development Programme, and its work will continue for the period from 26-28.” This November.

In his speech during the conference, the Prime Minister stressed that “the scale of the challenges requires integrated plans aimed at achieving comprehensive renaissance in the medium and long term,” noting that

“Iraq has witnessed a developmental interruption since the 1980s, due to wars, sieges, and counter-terrorism operations.”  He pointed out that  "the government worked to put development back on track and launch its development plans, in addition to raising the pace of implementation of existing projects, which number more than 7,000 projects, and implementing new projects that represent a higher development and service value."

 He pointed out that "the government has paid attention to strategic projects that are consistent with the Sustainable Development Vision 2030, including infrastructure projects, clean energy, the development road, Al-Faw port, and others." 

  He stressed  "the necessity of providing the best conditions to achieve the goals of the five-year plan by the parties concerned with its implementation, including the governorates," noting that

"the government, at the beginning of its work, supported the governorates, through the Supreme Commission for Coordination between the Governorates, which succeeded in changing many paths, and its results appeared." Within one year of the government's life. 

He stated that "the new governorate councils will represent a qualitative addition to the work, so care was taken to create the conditions for the success of the elections, so that each governorate would have representatives, whose work would be integrated with the governor." 

He continued, "It is time for the new development plan to have economic dimensions based on the philosophy of economic diversification," noting that

"the government has laid the foundations for economic diversification, including the establishment of the Iraqi Fund for Development, which aims to create an integrated investment environment in the country."  He stated that  

 “initiatives have been launched that aim to change the pattern of the rentier economy, such as the (Riyada) initiative, which helps young people invest their ideas in productive sectors,” noting that

“the tripartite budget included a special clause to support the private sector by granting it sovereign guarantees, which will contribute to encouraging the business and investment environment.” In the country". 

He stressed "working hard to support the private sector, and completing the formation of its development council, as it represents the primary partner of the government sector," pointing out that

"success in achieving economic diversification,

providing a fertile investment environment, and

strongly introducing the private sector into the development scene,

the reality of the situation will change.".  He stressed, "continuing to build a network of economic relations between Iraq and the countries of the world, built on the foundations of mutual interests," noting that

"the government worked to reform the banking and financial sector, by automating all economic and service activities and activities."

 He pointed out,  “starting to automate work at border crossings, and establishing the shift towards the use of electronic payment in all market and commercial transactions,” pointing out “the

need for the five-year development plan to adopt digital transformation, by adopting electronic systems in all aspects of life.”

He continued, "We need sound development data and indicators in order to make development plans successful, and this requires conducting an accurate and comprehensive census of the population, their places of residence, and their work environments," explaining that

"the population census was decided to be conducted next year, 2024, and we were directed to provide all the financial and logistical requirements to make it successful." 

He stated that "the five-year development plan should create space to achieve good governance, and establish appropriate mechanisms to fight corruption and dry up its sources wherever they may be," pointing out that

"the existence of a five-year, verifiable development plan indicates a state of security, political, social and economic stability, and must be achieved."

The results of development plans should reflect positively on vulnerable segments of society, by providing housing, education, and health, improving income levels, and reducing the effects of climate change.” 

He stated that  "the government worked, during its first year, to reduce poverty and unemployment rates, through the social protection network, improving the food basket, paying attention to health and education projects, services and infrastructure, working to not inherit poverty among poor families, and establishing a fund to support the poorest areas."".    https://www.ina.iq/198039--.html

United Nations: We Seek Cooperation With Iraq To Make The Financial Future A Success 

Economy     Yesterday, Baghdad - IA - Wissam Al-Mulla  The Resident Representative of the United Nations Development Program in Iraq, Oki Lootsma, confirmed today, Monday, the pursuit of cooperation with Iraq to make the financial future a success.

Lootsma said in his speech during the conference launching the Financial Investigation Procedures Guide, which was attended by the Iraqi News Agency (INA) correspondent:

“The United Nations Development Program is honored to cooperate with Iraq to enhance financial integrity and the success of the financial future in Iraq, as well as achieving long-term continuity.

We declare the fight against organized crime.” And combating money laundering, which is very important.”  He added,

"The process of drafting the guide highlights a large cooperative program for the 11 institutions that guarantee the judiciary, integrity, the Financial Supervision Bureau, offices for combating organized crime, and the relevant institutions, as well as the institution of this work."

He continued:  "We are pleased with the great cooperation that will lead to important results.

There are increasing applications through cooperation, exchanging information, supporting investigations, and recovering the required funds, and this enhances understanding of financial crimes,"

 stressing the commitment to supporting the work teams through the great expertise that will continue after the launch of the guide.   https://www.ina.iq/198119--.html

Tomorrow.. A High-Ranking Iraqi Delegation Will Leave For Türkiye To Discuss Three Files

 Economy     11-26-2023, Baghdad – IA   A government source said on Sunday that a high-ranking Iraqi delegation will leave tomorrow, Monday, for Turkey to discuss three files.

The source told the Iraqi News Agency (INA):

“Based on the Prime Minister’s directives regarding organizing trade exchange between Iraq and Turkey and stabilizing it through approved legal and banking methods and means, and in continuation of the first round of discussions that took place in Baghdad on Wednesday 11/15/2023, he will leave at dawn tomorrow, Monday.” 11/27/2023

A delegation including the financial advisor to the Prime Minister, three officials of the Central Bank of Iraq, and twelve directors of Iraqi banks to hold discussions with a number of Turkish financial and banking institutions, including the Central Bank of Turkey and the Association of Banks, in addition to the Turkish Banking Regulation and Supervision Agency.

He stated that the discussions will focus on a number of topics, including:

1- Discussing with Turkish banks for the purpose of opening correspondent accounts for Iraqi banks in various foreign currencies to be used in account settlements between the two countries and resolving all obstacles facing the two parties in implementing this process.

2- Discussing facilitating the use of credit cards for Iraqi residents and tourists in the Turkish banking market.

3- Discussing the organization of trade exchange between the two countries through the Turkish and Iraqi customs authorities matching the goods supplied to Iraq with the financial transfer documents through the foreign currency buying and selling window, in a way that protects the interests and stability of trade between the two countries.

The source said: “It is hoped that the above discussions will result in the signing of a number of agreements regarding banking arrangements between the two countries, which will contribute to containing the demand for the cash dollar through the irregular market for foreign currencies.”  https://www.ina.iq/198070--.html

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Provoking Points to Ponder  From Seat of The Soul By Gary Zukav

You create your  reality with your intentions 

An intention is a quality of consciousness that you bring to an action

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously 

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention

From the perception of the five sensory human, intentions have no effects, the effects of actions are physical, and not all actions affect us or others -- From the perception of the multi sensory human -- the intention behind an action determines its effects, every intention affects both us and others -- and the  effects of intentions extend far beyond the physical  world

Feel your intentions in your heart -- Feel not what your mind tells you, but what your heart tells you