Iraqi News Highlights Sunday AM 10-16-22
Iraqi News Highlights Sunday AM 10-16-22
Tlm724 Administrator Bondlady’s Corner
An Economist Explains How To Control The Currency Sale Auction
September 25 08:56 Information / Baghdad... The economic expert, Abdul Salam Hassan, explained that the currency auction can be controlled through the government’s move towards equalizing the value of the dinar with the dollar or making it close to the dinar, pointing to the difficulty of stopping this auction, especially with the presence of dominant parties on the scene.
Hassan told Al-Maalouma, "The currency auction cannot be stopped, and there is no law preventing its work, as it is supported by the World Bank, despite corruption and the parties' control over it to achieve personal benefits."
He added that "most countries work with currency auctions or the so-called economic colonialism, and
countries take it for financial investment and a window to extract the currency,
but the work of this auction in Iraq cannot be legalized or stopped under the pretext of continuing import, and this matter needs more currency."
And he indicated that "the increase in the amounts of currency sale came as a result of the increase in the exchange rate of the dollar against the dinar, as it achieves greater benefit through the currency sale auction, and
the government can control this matter and reduce the amounts sold in the auction by making the value of the dollar close to the dinar and thus the two values are equal or may The difference is very simple.
https://almaalomah.me/news/economy/خبير-اقتصادي-يوضح-كيفية-السيطرة-على-مزاد-بيع-العملة
Determining The Conditions For Granting Licenses To Iraqi Banks
October 14 12:38 Information/ Baghdad Today, Friday, the Securities Commission announced that it would proceed with granting licenses to three Iraqi banks, while setting a set of conditions for granting licenses.
The head of the authority, Hassan Al-Agaili, told the official agency, on the sidelines of the signing of the custodian contract with the Iraq Stock Exchange, that
"licenses will be granted to three Iraqi banks during this year, after these banks complete the requirements stipulated by the authority in the regulation."
Al-Ugaili added, "These requirements are to obtain the
approval of the Central Bank of Iraq, the
approval of the Securities Commission and the Board of Governors of the Iraq Stock Exchange, the
preparation of the headquarters and owners of the custodian and their passing of training, in addition to
preparing the Back office system to manage the tasks set forth in the instructions from the outputs of market and bank systems.". https://almaalomah.me/news/economy/تحديد-شروط-منح-التراخيص-للمصارف-العراقية
The size of the waste is 400 billion dinars .. "Whales of corruption" is wrestling with a project with a trillion dinars in Basra
1,123 Policy 2022/10/15 18:32 Baghdad today – Baghdad Sources and documents revealed a fierce struggle in Basra Governorate about the Al -Zubair sewage project after its financial allocations were increased to more than one trillion dinars and
then divided the project to increase the volume of financial waste and coverage about the volume of corruption in it and the planned thefts.
The sources indicated to (Baghdad today), that
"the project was divided for its passage, as the trick was used to pass the project and camouflage on the regulatory authorities," noting that
"the project was divided into a major lifting station and the second section is municipal work, sewers and a number of services where a station was presented to the referral Treatment with 42 billion dinars, while the municipality and sewage work exceeded 650 billion dinars. The sources pointed out that
"the treatment plant was raised from the project permanently surprising that there is no treatment station in a project that is spent 700 billion dinars on it," noting that
"the fragmentation of an integrated project and its referral at different prices is a way to fraud and pay attention to the amount expected to the project, which is a trillion And 13 billion dinars."
The sources revealed that "the value of waste after the project is more than 400 billion dinars, the coverage and loss between small projects."
A document issued by the Ministry of Planning directed to the Ministry of Finance it obtained (Baghdad Today), in which it requested to increase the financial cost of the Al -Zubair Stream project from 896 billion dinars to a trillion and 113 billion dinars.
The sources show that these sums were hidden by returning the project and referred parts to cover up the amounts that were increased. https://baghdadtoday.news/news/203332/حجم-الهدر-400-مليار-دينا
Al-Maliki, Al-Amri And Al-Khanjar Are Waiting For Senior Positions In The Sudanese Government
Political | 08:04 - 14/10/2022 Baghdad - Mawazine News A political source said, on Friday, that preliminary political understandings had been reached on the appointment of three deputies to the President of the Republic, in addition to the existence of an agreement regarding the distribution of ministerial portfolios.
The source told "Mawazine News", "Advanced political understandings regarding the Vice-Presidents of the Republic, as information indicates that it was agreed to name the head of the State of Law coalition, Nuri al-Maliki, the head of the Fatah Alliance Hadi al-Amiri, and the head of the Sovereignty Alliance, Khamiser al-Khanjar."
The source pointed out that "the cabinet of Prime Minister-designate Muhammad Shia'a Al-Sudani will consist of 25 ministers, and Al-Sudani will present his cabinet formation no later than the end of this month."
The source confirmed, "The Shiite component will get 13 ministries, the Kurds will get 6, and the Sunni component will get 6 ministries as well,"
noting that "each component will present 3 candidates for one ministry, and the Sudanese will choose one candidate from them. https://www.mawazin.net/Details.aspx?jimare=208265
Calling For The Whales Of Corruption To Be Held Accountable.. Al-Maliki's Coalition Reveals The Date Of Al-Sudani's Presentation Of His Booth
political| 08:40 - 14/10/2022 Baghdad - Mawazine News, Saturday, the State of Law coalition sent a letter to the person in charge of forming the government, Muhammad Shiaa Al-Sudani, calling on him to address corruption files.
Member of the coalition, Zuhair Chalabi, said in a television interview, which was followed by "Mawazine News", that negotiations to form the government are continuing, calling on the commissioner, Muhammad Shiaa Al-Sudani, to determine his competent team. He continued,
"The Sudanese must work silently according to strategic plans, the priorities of the state and its projects." Chalabi indicated,
"The Sudanese will end his cabinet before the end of the constitutional period, as he is supported by the largest bloc in Parliament." Chalabi stressed,
"Al-Sudani must address many of the files and hold the whales and mafias of corruption accountable." Chalabi called,
"The Sudanese to activate the private sector projects, industry and agriculture, and go towards activating the Silk Project." https://www.mawazin.net/Details.aspx?jimare=208267
The Minister Of Finance Heads An Iraqi Delegation To Meet With The World Bank On Investment
economy Iraq Minister of Finance 2022-10-14 10:49 Shafaq News/ The Minister of Finance, Ihsan Abdul-Jabbar Agency, headed on Friday the Iraqi delegation participating in the quarterly meetings of the International Monetary Fund and the World Bank in Washington.
According to a statement of the Ministry of Finance received by Shafak News Agency,
"the meeting, in which the Undersecretary and a number of general managers participated, included several meetings on the sidelines of meetings with a number of financial and economic institutions."
During the meetings, Abdul-Jabbar stressed the importance of strengthening relations with various international partners, and the trend towards developing areas of regional and international cooperation.
The minister referred to efforts aimed at solving problems and removing obstacles that accompany the process of promoting investment opportunities and establishing projects in Iraq, stressing
"the need to involve the private sector to take its role in the overall economic activity to achieve comprehensive and sustainable development."
The statement continued, "Participation in the meetings of the Fund and the World Bank included
central bank governors, ministers of finance and development, senior officials from the private sector,representatives of civil society organizations, and academics to discuss issues of global concern."
The statement indicated, "The visit of the Iraqi delegation comes within the efforts to enhance and deepen the areas of economic cooperation with the two international institutions,
as well as Iraq's intention to obtain technical and technical support from the US Treasury and other financial institutions." ' https://shafaq.com/ar/اقتصـاد/وزير-المالية-يتر-س-وفدا-عراقيا-للاجتماع-مع-البنك-الدولي-بش-ن-الاستثمار
Iraq Records The Highest Economic Growth In Its History In The Current Year
Economy 12-10-2022, 21:08 INA – BAGHDAD Financial advisor to the Prime Minister, Mudhher Muhammad Salih explained the reasons that allowed Iraq to record the highest Arab growth rates this year, which exceeded 9%, according to a report by the International Monetary Fund, describing this percentage as the highest in the history of Iraq.
“The reason is due to the
increase in Iraq’s exports by about one million barrels compared to the period of Corona pandemic emergence, and also the
increase in oil prices by 40% as well as, the
major reconstruction campaign in the liberated cities, said Salih to Al-Iraqiya News TV, and the Iraqi News Agency – INA.
He noted that "there is a fourth reason.
It’s the due to the activity of the digital communications sector, and the
fifth is due to the initiative of the Central Bank, which amounted to 19 trillion dinars and provided housing loans plus supporting youth projects."
Salih explained that “there are financial savings represented by the increase in the Central Bank’s reserves that support economic stability, and others related to the rise in oil prices.
It ranges, according to our estimates, between $15-$20 billion, and this should be invested in a budget legislation for the next year, especially since the budget represents 50% of the value of the domestic product.
It has an investment aspect that supports the development sector in the country and maintains good growth rates.” https://ina.iq/eng/22358-iraq-records-the-highest-economic-growth-in-its-history-in-the-current-year.html
“International Monetary” Gives Gulf Economies A “More Positive” Outlook Thanks To Oil
363 Economy 10/12/2022 22:24 ak Baghdad today - follow up The International Monetary Fund fixed its forecast for the growth of the Saudi economy during 2022 at 7.6 percent, which is the second time in a row after the expectations of last July and April, to become the highest growth among the "Group of Twenty" countries.
According to the October World Economic Outlook report, which was released on Tuesday, the Fund also maintained its forecast for the growth of the Saudi economy for 2023 at 3.7 percent, which is the same as its previous forecast and higher than the April forecast of 3.6 percent.
Positive Outlook For The Gulf Countries
This positive outlook extends to the rest of the Gulf Arab countries that benefit from the rise in oil prices, as the Fund estimates the average price of a barrel at 98 dollars this year, dropping to 85.5 dollars in 2023.
The report stated that Kuwait achieved the highest jump in terms of expected growth this year, which will reach 8.7 percent, compared to 5.7 percent as expected in April.
The UAE economy is likely to grow 5.1 percent, Oman 4.4 percent, Qatar and Bahrain 3.4 percent for each country, according to the fund, which raised its estimates for the growth of the Middle East and North Africa region from 0.6 percent to five percent this year.
With regard to the rest of the Arab countries other than the Gulf Cooperation Council, the Fund expected Iraq to achieve the highest growth in the region by 9.3 percent, up half a percentage point from the April estimates.
The fund also raised the expectations of the Egyptian economy to 6.6 percent, up from 6.1 percent during previous figures. As for the year 2023, the Fund reduced its forecast for the growth of the Egyptian economy from 4.8 percent to 4.4 percent due to challenges from abroad.
Bleak Outlook For The Global Economy
The Gulf recovery is offset by bleak expectations by the International Monetary Fund that global growth will slow to 2.7 percent next year, which is 0.2 percentage point lower than its estimates for the month of July, and 2023 is likely to be a recession for millions around the world, and this is the fourth reduction consecutively since the beginning of this year.
Regardless of the global financial crisis and the height of the "Covid-19" pandemic, the IMF said in a report that this is "the weakest growth rate since 2001."
https://baghdadtoday.news/news/203054/النقد-الدولي-يمنحاقتصادا
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