Iraqi News Friday AM 12-4-20
Iraqi News Friday AM 12-4-20
TLM724 Administrator BondLady’s Corner
Al-Bakhati: He Warns Of The “Third Loan”: A Slippage Of The Local Currency And A Float Of The Dinar
Pratha News Agency186 2020-12-03 On Thursday, MP Jassim Al-Bakhati of the Al-Hikma Movement expressed his surprise at the government's "desire" to obtain new borrowing to cover the expenses of the Electoral Commission, considering that the "third loan" indicates a "danger" to Iraq, which will lead to "slipping" the local currency and "floating" The dinar.
Al-Bakhati said in a press interview, "The government went earlier to the first borrowing for several reasons, including the drop in oil prices, the health crisis and the global economic situation, which caused in its entirety the suspension of many strategic projects and the delay in paying employees' salaries and other necessary needs," indicating that "Parliament worked at the time." On passing the first borrowing on condition that the government provides alternatives at a later stage.
Al-Bakhati added, "What we have seen is that there is a retreat in the work of the outlets despite the government’s talk of putting its hand on those outlets to work on the automation project in them, and we have not seen any actual results on the ground that support the state’s treasury, and the street has become wondering about the reasons for repeated borrowing for several times and drowning Iraq with debts." Large, "pointing out that" the government, after going to the second borrowing, presented arguments and reasons for submitting the demand, including the desire to pay salaries. "
He pointed out, "We have not yet seen any features of the existence of a budget for the next year, and we do not know what the deficit percentage is, in addition to the fact that local resources do not know whether there is progress in their situation and what they provide to the state treasury so that we feel there is an improvement in performance, whether in ports, airports, taxes and other sectors Non-oil ",
He explained that "salaries are four billion and 900 million dollars a month, and oil provides about 80% of the amount, given that oil exports per day are 3 billion and 300 million barrels, and the full amount covers 80%, and the shortage and the difference can be provided by local alternatives."
Al-Bakhati stated that "any third loan indicates a danger to Iraq and leads to the slipping of the local currency, the float of the dinar and the collapse of the local economy, and the government must benefit from previous experiences in dealing with its problems through bonds instead of repetitive borrowing, without seeing any figure coming out to actually and realistically clarify the financial picture for us.
" For the country and what are the causes of the deficit, in order to understand where the country goes instead of the state of uncertainty and lack of clarity of vision, and that there is transparency from the government and in numbers for what it has and what it owes in full, stressing that “a method that preceded events and talk in advance about the lack of salaries next month will lead to a break Society and it will have unacceptable consequences. "
Al-Bukhati stressed, "The government's desire to obtain new borrowing in order to finance the needs of the Electoral Commission with an amount of $ 300 million is surprising, and we do not know why it did not put this amount in advance in the second borrowing law in the chapters of other necessary expenses," noting that "the government must open up in a manner." Deal with it and be clear about its demands and that its procedures be of service to the people instead of focusing on borrowing, which will be the cause of creating major problems for Iraq. " http://burathanews.com/arabic/news/381739
TOYBOY: All the government wants to do is use the CBI money as a piggy Bank without having to pay it back. They want to deplete the CBI money and they are doing a good job of depleting the CBI reserves. Will not be too far off money will be gone. and people think we going to make a lot of money on our investment. Wrong it will be years before an RV in fact I wouldn't doubt they end up going Bankrupt of which we will loose everything we have invested in Iraq. Just my opinion of course
Member Of Parliamentary Finance: The Council Of Ministers Discusses The Budget Tomorrow And Its Approval Will Take Longer
Time: 12/04/2020 15:55:23 Read: 2,704 times {Baghdad: Al Furat News} A member of the Parliamentary Finance Committee confirmed, today, Thursday, that sending the fiscal budget for 2021 to Parliament and voting on it will take 45 days.
Sherwan Mirza said in a press statement, "The Federal Cabinet will discuss tomorrow, Saturday, the federal budget for 2021," explaining that "the process of conducting the first and second reading and voting on the draft law will take a long time."
He added, "The budget will reach the House of Representatives before the end of this year, and voting will take about 45 days," pointing out that "the share of the Kurdistan region is still unknown, and the determination is linked to an agreement between the regional and federal governments."
Yesterday, Thursday, the Kurdistan Regional Government delegation went to Baghdad to discuss the outstanding problems between the two sides, including the fiscal budget for 2021 and the region’s share in it. LINK
The Region’s Delegation Begins Its Discussions In Baghdad On Dues And The Budget
Time: 12/04/2020 16:34:28 Read: 1,391 times {Baghdad: Al Furat News} The delegation of the Kurdistan Regional Government, which arrived in the capital, Baghdad, begins its discussions on the financial problems and the region's dues on Friday.
The deputy of the Patriotic Union of Kurdistan parliamentary bloc, Sherwan Mirza, said, "The delegation went Thursday to Baghdad and includes Minister of Finance Awat Sheikh Janab, Minister of the Region for Negotiation Affairs with Baghdad Khaled Shawani, and the official of the Coordination and Follow-up Department in the Council of Ministers, Abdul Hakim Khusraw."
He added, "The delegation will start its talks with officials in Baghdad today, with the aim of securing financial dues and salaries for Kurdistan Region employees."
On November 12, the House of Representatives approved the fiscal deficit law, despite the withdrawal of the Kurdish blocs in objection to determining the share of the Kurdistan region from the total actual spending "on the condition that the Kurdistan region be committed to paying the amounts of oil exported from the region and in the quantities specified by the Iraqi Oil Marketing Company SOMO exclusively. And the federal non-oil revenues, and in the event of non-commitment by the region, expenditures may not be paid to the region, and the violator of this text bears legal responsibility.
Yesterday, Thursday, the Kurdistan Regional Government delegation went to Baghdad to discuss the outstanding problems between the two sides, including the fiscal budget for 2021 and the region’s share in it. LINK
Al-Rafidain Begins Disbursing Financial Dues To The Private Outlets
Banks Economy News – Baghdad On Friday, Rafidain Bank announced that it will pay financial dues to owners of private outlets offices.
The media office of the bank said in a statement carried by "Al-Eqtisad News", that "the bank has started disbursing financial dues to the owners of outlets in its branches spread" in Baghdad and the provinces.
He pointed out that "many of the outlet owners and after their financial liquidity ran out, as a result of the employees and other groups' desire to withdraw their salaries, they came to some branches of the bank to receive their money and continue to provide financial services to employees, citizens and retirees."
Number of observations 8 Date added: 12/4/2020 https://economy-news.net/content.php?id=23001
Tariq Harb: There Is No Solution To Parliament, Nor Elections Without Legislation To Amend The Supreme Court Law
Friday 04, December 2020 16:37 | PoliticalViews: 105 Baghdad ( NINA ) - Legal expert Tariq Harb affirmed that there is no solution to parliament or elections without legislation to amend the Supreme Court Law.
He said the war in the statement of the Iraqi National News Agency received Nina a copy of it to the possibility of a law amending the law court supreme in the parliament session for tomorrow may be that Mana good about what he says our ancestors when they refrain the other party to send a message to the first but the message and those who take care and stakeholders in us the House of Representatives and clear In refusing to approach the legislation of the Federal Supreme Court Law because they are aware that the legislation of this law, any amendment of the Supreme Court Law, will make the elections close to the corner or lower, and that there is no need for Parliament to remain to complete all the legal procedures required for the elections.
He explained that the dissolution of parliament and the demobilization of the deputies can happen at any minute once the court law is enacted to amend it, indicating that the prime ministers and the republic will dissolve parliament in accordance with Article 64 of the constitution before parliament dissolves itself, so the schedule for tomorrow’s session of parliament left a paragraph related to amending the Supreme Court’s law.
He indicated that the deputies do not want to end their service by dissolving the parliament, which is related to the amendment of the Supreme Court Law. There is no solution for Parliament and no elections without legislation amending the Supreme Court Law. / https://ninanews.com/Website/News/Details?Key=874277
Dollar Exchange Rates In Local Markets
Market Economy News _ Baghdad The "Economy News" publishes the prices of foreign currencies, gold and oil globally on Friday (December 4, 2020), according to the Iraqi Political Economic Center.
The sale price of the dollar is 125,750 The purchase price of the dollar is 124,750
Euro: 100 euros, 121,55 dollars GBP: 100 pounds - $ 134.64
Turkish Lira: $ 100, Turkish Lira 782.04 The price of an ounce of gold worldwide is $ 1841.81
The price of a barrel of Brent crude oil is $ 49.52 The price of a barrel of US crude oil is $ 46.26
Number of observations 160 Date added: 12/4/2020 https://economy-news.net/content.php?id=23000
Oil Continues To Gain
Time: 12/04/2020 09:44:27 Read: 2,496 times {Economic: Al Furat News} Oil prices continue to achieve gains, as they rose by about 2% on Friday, after the "OPEC +" group agreed to a modest increase in production in January.
By 08:45 Moscow time, US crude futures were trading at $ 46.47 a barrel, an increase of 1.82% over the previous settlement price.
Brent futures were trading at $ 49.70 a barrel, an increase of 2.03% over the previous closing price.
The "OPEC +" group agreed yesterday, Thursday, to a modest increase in oil production as of next January, by 500 thousand barrels per day. The increase means that the group will cut production by 7.2 million barrels per day, equivalent to 7% of global demand from next month, compared with current cuts of 7.7 million barrels per day.
The cuts aim to address weak oil demand in the midst of a second wave of the Corona virus.
It was expected that OPEC + would extend the existing cuts until at least next March, after it backed away from previous plans to boost production by two million barrels per day.
However, after hopes of speedy approval of vaccines to prevent the virus resulted in a rise in oil prices at the end of last November, several producers began to doubt the need to maintain this tightening in oil policy. LINK
Foreign Relations Reveal Why Washington Has Reduced The Number Of Its Diplomats From Iraq
Political| 04:55 - 12/04/2020 BAGHDAD - Mawazine News The Parliamentary Foreign Relations Committee revealed, on Friday, the reason for the administration of US President Donald Trump to reduce US diplomats working in the Iraqi capital, Baghdad.
Committee Chairman Sherko Mirwais said, "Washington decided to reduce the number of diplomats working at the US embassy in Baghdad, due to the security situation in Iraq in particular, with the approaching anniversary of the assassination of the former Iranian Quds Force commander, Qassem Soleimani, and the deputy head of the Popular Mobilization Authority, Abu Mahdi Al-Muhandis," explaining "Washington is anticipating any possible scenario against its embassy in Baghdad."
He added, "The withdrawal reflects negatively on the political, economic and security situation in Iraq," stressing "the importance of the presence of the international coalition and the United States to confront ISIS remnants, and the continued training of security forces." https://www.mawazin.net/Details.aspx?jimare=132883
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