Iraqi News Sunday Evening 4-24-22

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Minister Of Finance: The Financial Situation Is Very Good And An Upcoming Meeting With The International Monetary Fund And The World Bank Is In Baghdad

Money  and business    Economy News – Baghdad  Today, Sunday, Finance Minister Ali Allawi revealed that meetings with the International Monetary Fund and the World Bank are about to be held in Baghdad, while noting that the financial situation is very good.

Allawi said in a statement to Al-Iraqiya News that "the meetings with the International Monetary Fund, the World Bank and other major institutions in the American capital, Washington, were good," noting: "We have reached several agreements, the most important of which is support for the reform process, especially the white paper."

He added, "There are close meetings in Baghdad, which will be after the blessed Eid Al-Fitr, so that the support will be technical and there will be advisors, in order to strengthen the capabilities of the Iraqi government, in order to advance and move forward with the reform project."

He pointed out that "Iraq is in the process of implementing agreements with the World Bank, especially to support the technical side. We have reached very good results, and will contribute to strengthening the cadres working in the state," noting that "the ministry is in the process of submitting a law to the House of Representatives for the purpose of employing the unexpected gain resulting from The rise in oil prices, in the areas of strengthening support for groups affected by the prices of raw materials.

He continued, "The law is before the House of Representatives and will be enacted, and it will give strong support to the groups affected by the rise in the prices of basic materials and foodstuffs in particular, and to strengthen the pillars of the Ministry of Finance and to strengthen the possibilities of employing public employment projects," explaining, that "there is an integrated plan to use the surplus of the price hike, in cooperation with Parliament".

He pointed out that "this support is outside the concept of reform for the public sector, and we want to reduce government support, especially for sectors that can thrive without government support, but this will be for one time," explaining that "the government acknowledges that some groups have been affected by the rise in the prices of raw materials, so it will be One-time and non-recurring support.

He stated, "We have a strategic agreement with the United States, especially in the economic aspect, and we want to do it now," stressing that "there are preparations for cooperation at all levels."

Allawi stressed the need to "submit projects to obtain support, or a kind of American aid, especially in the technical and technical aspects," stressing that "the financial situation is very good, and we do not need support from any foreign parties, except for certain projects."

Views 158 Date Added 04/24/2022    https://economy-news.net/content.php?id=27746

Allawi: The Financial Situation Is Very Good

Economie| 02:11 - 04/24/2022   Baghdad - Mawazine News, Minister of Finance, Ali Allawi, described, today, Sunday, the financial situation in the country as "very good," revealing that meetings with the International Monetary Fund and the World Bank will be held in the capital, Baghdad.

Allawi said in a statement to state television, which was followed by Mawazine News, that "the meetings with the International Monetary Fund, the World Bank and other major institutions in the American capital, Washington, were good," noting: "We reached several agreements, the most important of which is support for the reform process, especially the white paper."

Allawi added, "There are close meetings in Baghdad, which will be after Eid Al-Fitr, so that the support will be technical and there will be advisors, in order to strengthen the capabilities of the Iraqi government, in order to advance and move forward with the reform project."

He pointed out that "Iraq is in the process of implementing agreements with the World Bank, especially to support the technical side. We have reached very good results, and will contribute to strengthening the cadres working in the state," adding that "the ministry is in the process of submitting a law to the House of Representatives for the purpose of employing the unexpected gain resulting from the high Oil prices, in the areas of strengthening support for groups affected by the prices of raw materials.

He continued, "The law is before the House of Representatives and will be enacted, giving strong support to the groups affected by the rise in prices of basic materials and foodstuffs in particular, strengthening the pillars of the Ministry of Finance and strengthening the possibilities of employing public employment projects," explaining, that "there is an integrated plan to use the surplus of high prices, in cooperation with Parliament".

He pointed out that "this support is outside the concept of reform for the public sector, and we want to reduce government support, especially for sectors that can thrive without government support, but this will be for one time," explaining that "the government acknowledges that some groups have been affected by the rise in the prices of raw materials, so it will be One-time and non-recurring support.

He went on to say, "We have a strategic agreement with the United States, especially in the economic aspect, and we want to do it now," stressing that "there are preparations for cooperation at all levels."

Allawi stressed the need to "submit projects to obtain support, or some kind of American aid, especially in the technical and technical aspects," stressing that "the financial situation is very good, and we do not need support from any foreign parties, except for certain projects." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=191100

Iraq Is Among 10 Countries That Contribute To 70% Of Gas Flaring Emissions In The World

Energy   Economy News – Baghdad   A report issued by the energy and business intelligence research company "Rystad Energy" revealed that ten countries, including Iraq, contribute to 70 percent of gas flaring emissions in the world .

According to the report, "Russia, Iraq, Iran, Venezuela, Nigeria, the United States, Algeria, Mexico, Libya and China, together still account for more than 70% of gas flaring emissions in the exploration and production sector around the world ."

The report continued, "Although regional developments show the world's efforts to reduce flaring activity, while striving to reduce emissions, the list of major contributors has not changed ."

The company added that "carbon emissions resulting from gas flaring in the exploration and production sector around the world amounted to 276 million tons, last year 2021, a slight decrease from the level recorded in 2020, at 283 million tons," noting that "flaring activity represents 30% of the total emissions." carbon dioxide, which is emitted by the oil and gas industry," according to the report .

The company expected "a rise in gas flaring activity in the current year 2022, with the increase in global demand for fossil fuels, and in the midst of a tight supply, due to the decline in Russian supplies due to the invasion of Ukraine ."  Views 133 Date Added 04/24/2022   https://economy-news.net/content.php?id=27740

The Stability Of Gold Prices In The Iraqi Markets

Market Economy News – Baghdad  The prices of "foreign and Iraqi" gold stabilized in the local markets, today, Sunday (April 24, 2022) .

And gold prices were recorded in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning, the selling price of one weight of 21 caliber of Gulf, Turkish and European gold was 396 thousand dinars, and the purchase price was 392 thousand, which are the same prices that were recorded yesterday, Saturday .

And the selling price of one weight of 21 karat of Iraqi gold was also stable at 356 thousand dinars, and the purchase price reached 352 thousand .

With regard to gold prices in goldsmiths’ shops, the selling price of a 21-carat Gulf gold weight ranged between 395 thousand and 405 thousand dinars, while the selling price ranged between 355 thousand and 365 thousand Iraqi dinars .   Views 102 Date Added 04/24/2022   https://economy-news.net/content.php?id=27743

Dollar Exchange Rates In Local Markets

Economie| 12:25 - 04/24/2022   Baghdad - Mawazine News  publishes / Mawazine News /, the exchange rates of the US dollar against the Iraqi dinar in the local markets for today, Sunday.   Selling price: 148000 dinars per $100   Purchase price: 147,000 dinars per $100  https://www.mawazin.net/Details.aspx?jimare=191088

A Legal Expert Calls For Benefiting From The Experiences Of Other Countries And Activating An Important Principle

 Time: 04/23/2022 13:45:42 Reading: 806 times  {Political: Al Furat News} Legal expert Ali Al-Tamimi demanded, today, Saturday, to benefit from the experiences of other countries.

Al-Tamimi said in a statement, which {Al-Furat News} received a copy of, that "the law must be applied to everyone without exception,

the judiciary is independent,

the judge is a safeguarded right, and

the judges are independent, and it is not permissible to interfere in the affairs of judges, these international principles in litigation and legal procedures."

He added: "There is no difference in litigation between a politician, a wealthy person and a construction worker.

All are equal.

There is no effect of these factors on rulings and courts with evidence, wherever it tends, it tends with it, and we have in Iraq gradualism in litigation from appeal, discrimination, correction and retrial, which are guarantees that are resorted to when there is a deviation in the application of the law".

And he indicated that "the rule of law exists and is applied, but what is important is justice, which is the heart of the law.

The texts are rigid, but the one who applies them is the judge who searches for justice and the spirit of the law and applies the law as it is like death.

No one is excluded.

Judges are the hearts of God on earth and they are the ones who rely on them in justice."

Because they are a symbol of justice."

He concluded: "Today, we are in dire need of implementing the principle that no one is above the law, and the law applies to everyone, and that we benefit from the experiences of other countries in terms of judicial independence, because countries transcend, transcend, and feel a civilization that combines the past, the present and the future."  https://alforatnews.iq/news/خبير-قانوني-يطالب-بالاستفادة-من-تجارب-الدول-الاخرى-وتفعيل-مبدأ-مهم

Gas Is A "Big Opportunity" For Iraq... But

Baghdad has a huge wealth that ranks tenth in the world  The Independent Arabic    Saturday 23 April 2022 14:35   Iraq has an opportunity that must be seized to establish a gas industry that suffices its needs and to export to other countries (AFP)

Iraq possesses a huge wealth of gas associated with the production of crude oil and free gas, as Iraq ranks tenth in the world with reserves estimated at 137 trillion cubic feet, in addition to the fact that

the unexplored area of its territory was estimated at 80 percent, despite its need for gas at the time. current, according to experts in the economic field.

Economist Nabil Al-Marsoumi spoke about the possibility of Iraq exporting gas.

And he said in a post on "Facebook", "The gas currently produced is 3000 million standard cubic feet per day (milk) and the dry gas production is 1317 mil- lized per day, and the liquid gas production is equal to 5571 tons per day, in addition to the gas burned 1628 mil- lized per day."

And Al-Marsoumi indicated that "Iraq's exports of condensate in 2021 amounted to 139 thousand tons, with a value of 71 million dollars, and that Iraq's exports of liquid gas were estimated at 456 thousand tons, worth 288 million dollars, and Iraq's current needs of natural gas were 3,083 cubic meters per day."

Towards Self-Sufficiency

He added that "Iraq's current need of imported gas is 40 million cubic meters per day, ie 1766 cubic meters per day, and the current gas projects are the Nasiriyah gas investment project with a capacity of 200 cubic meters per day, the Halfaya field investment project with a capacity of 300 cubic meters per day, and the Artawi field project in a gas company."

Basra has a capacity of 400 cubic meters per day, as well as the Artawi field project in the South Gas Company with a capacity of 300 cubic meters per day.

Al-Marsoumi pointed out that "when these projects are completed within three to four years, it is hoped that their production will all reach 1,200 bottles per day, which will lead to achieving 80 percent of self-sufficiency in gas."

In the medium term, Iraq can achieve self-sufficiency in gas production (AFP)

A Huge Wealth Of Gas

In turn, economic researcher Bassam Raad believes that "Iraq possesses a huge wealth of gas associated with the production of crude oil and free gas.

He said that some studies" indicated the existence of hundreds of compositions with a high probability of the presence of unexplored oil and gas, and the potential gas reserves are estimated at 332 trillion cubic feet..

He pointed out that "in the long run, Iraq can be one of the major gas suppliers in the world if the necessary infrastructure for the gas industry is developed, the optimal exploitation of associated and free gas, and more investments in this field."

Negligence Of Governments

In the same context, economic researcher Saleh Lafta stressed that Iraq possesses large gas reserves, including free gas and associated gas fields, and

"there is an opportunity to become one of the major producers and exporters in the world, but unfortunately Iraq still burns billions of cubic meters of natural gas annually. Depriving Iraq's budget of the billions it desperately needs to fill its annual deficit."

The economic researcher believed that "the neglect of successive governments is the reason for the delay in the development of the gas industry."

article continues at    https://www.independentarabia.com/node/324381/

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