KTFA:

Don961:  Prime Minister Mustafa Al-Kazemi chaired the special session of the Council of Ministers, devoted to discussing financial and economic reform in the country.

Finance Minister: We will open a new page with Saudi Arabia and Kuwait in the economic field

Policy 7/26/2020 23:26 168    
Baghdad today - Baghdad

Finance Minister Ali Abdul Amir Allawi confirmed today Sunday that Iraq will open a new page with Saudi Arabia and Kuwait in the economic field.

Allawi said in a press conference, "His visit to Kuwait was of an economic rather than political nature, as Iraq will open a new page with Saudi Arabia and Kuwait in the economic field."

He added that "Iraq has a fiscal deficit estimated at five trillion dinars per month, and oil gives us approximately 92 percent of the state's revenues, while 25 percent of the national product goes to salaries and allocations," noting that "it will stimulate the private sector to play a leading role in promoting development ".

On OPEC, the Minister of Finance stressed that "the OPEC agreement contributed to the increase in oil prices three times."   LINK

MilitiaMan:  It sure looks like they are again hitting the ground running with reforms. This new PM and his FM are on fire to get things off and running.  The PM held a special session on financial and economic reforms today. They normally meet Tuesdays if memory serves me well. If so this sure supports the urgency, in that having a special session is a good thing. It reeks of urgency.. imo.

Then we see the re balancing of two potentially large partners, both Saudi Arabia and Kuwait. They will need to be fully article 8 imo to re balance the trade and investments with the two countries.. The stopped the auctions about 16 days ago. Liquidity is drying up and inflation is setting in. They need to do business and quickly, or they'll have even further issues. Something they are well aware of and have a cure for.

For that cure to happen they have to choose the right alternative to make it happen whereby, raising the value of their currency to allow them to get on and into secondary markets is one that will work to do just that. Al-Nassery specifically talked about secondary markets, Sukuk was mentioned..

These two countries know full well what is needed and is to come.. They wouldn't be talking if they didn't..

Don't let the articles full you. They mention many reforms and time frames. There are reforms for the government for instance that may take 30-60-90 days. So be careful on how things read at first glance. ~ IMO We are in a very awesome place these days.. So lets see the balancing act get started!! lol imo ~ MM

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Don961:  Mourning for {Morning}: The 2020 budget will be biannual

Monday 08 June 2020
Baghdad / Omar Abdul Latif

 Deputy Speaker of Parliament Dr. Bashir Khalil Al-Haddad revealed the readiness of 7 laws to vote during the next stage, while he stressed that voting on the 2020 budget will be in semi-annual or other form to be agreed upon later.

Al-Haddad told Al-Sabah that there are dozens of bills that are expected to be passed in the House of Representatives, including what was read for the first or second time and discussed and ready to vote, including; A draft law on information crimes, refugees, housing abuses and a proposed legal proposal for sports clubs, federations, the Federal Civil Service and the Reconstruction Council, etc.

The Deputy Speaker of the House of Representatives indicated that Parliament asked the government to expedite sending the draft budget law for the year 2020 within a maximum period of the end of the current month to be read and discussed and then vote on it, Indicating that the budget formula that the House of Representatives will vote on will be semi-annual or any other formula to be agreed upon later.

LINK

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Samson:  An upcoming meeting between Al-Kazemi and Parliament to resolve three important financial files

08:42 - 08/06/2020

Member of Parliamentary Finance Committee Magda Al-Tamimi revealed, on Monday, an upcoming meeting between the committee and Prime Minister Mustafa Al-Kazemi and the Minister of Finance to discuss some important financial files, stating that external loans, salaries and the budget will be the preliminary discussions.

Al-Tamimi said in a dialogue followed by / information / that "the committee called for a meeting with Prime Minister Mustafa Al-Kazemi and the Minister of Finance to discuss the government's plans in the file of foreign loans."

Al-Tamimi added that "the upcoming meeting will discuss the salaries of employees and how to pay them, as well as approving the budget for 2020 and the file facing the financial crisis."

She noted that "foreign loans to Iraq amounted to about 25 billion dollars, while the interior was about 38 billion dollars and loans imposed during the Gulf War are 40 billion dollars."  LINK

Samson:  Details of the process of stealing salaries for medical personnel in Baghdad and arresting the perpetrators

8th June, 2020

Baghdad Anti-Crime Directorate revealed today, Monday, a salary theft incident for medical personnel, pointing to the arrest of the perpetrators

A statement issued by the Directorate stated, "After receiving information about theft of an iron safe containing the salaries of employees of a dispensary north of the capital, Baghdad, and by order and direction of the Human Rights Brigade Director of the fight against criminals in Baghdad, a specialized working group was formed to reveal the circumstances of the accident in fulfillment of the efforts of health personnel that are making a lot, especially in the current circumstance

He added, "The work team started within the Anti-Criminal Crime Bureau (Al-Zuhur) in the Directorate of Anti-Crime of Baghdad, which is affiliated to the Ministry's Police Affairs Agency in the Ministry of Interior, after taking the fundamental approvals to investigate and collect information and go to the accident site in record time and within hours, only one of the workers in The clinic for suspicion and suspicion is available, and upon investigation, he admitted that he had stolen the treasury and inside it (seventeen million Iraqi dinars) and with the help of two other defendants

And she confirmed, "They were arrested as well, and in their terms the treasury and the amounts stolen inside it were seized, and the necessary legal measures were taken against the three accused and arrested according to Article (444) Q   LINK

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Samson:  A parliamentary committee: the region will hand over Baghdad, within days, the sums of oil as a maturity of 250,000 barrels

8th June, 2020

The Oil and Energy Committee in the House of Representatives said on Monday that the Kurdistan Region will hand over the central government the oil sums as a maturity of 250,000 barrels.

And the member of the committee, Amjad Al-Uqabi, stated that "the next few days will witness the delivery of oil sums by the region to the government as an entitlement for 250 thousand barrels."

Al-Oqabi pointed out that "the oil and gas law will include mechanisms for dealing with the oil of the region and Basra, as it will be through SOMO," stressing that "it is among the important laws that will be approved during the coming days."   LINK

PompeyPete:  THIS SMACKS OF HCL AGREED AND SORTED...

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Samson:  Representatives present to the government four proposals to achieve urgent economic and financial reform

8th June 2020

A number of members of the House of Representatives presented, on Monday, four proposals to the government after the completion of the cabinet, to achieve urgent reform in the difficult economic and financial situation the country is going through.

The deputies, Qassem Al-Araji, Muzahim Al-Tamimi, Adnan Al-Zarfi, Muhammad Shia'a Al-Sudani, and Muhammad Sahib Al-Daraji, said in a joint statement on the occasion of the completion of the ministerial cabinet, “Mawazine News / received a copy of it,” after the Parliament’s vote on Saturday 6/6/2020 On the seven ministries and the completion of the government formation, we find it obligatory for us to recall that the cabinet formation that the Prime Minister and political forces efforts ended and won the confidence of the House of Representatives was not at the level of what the people were looking forward to, and what came out of the thousands of demonstrators and protesters for it and the fallen victims Martyrs, in order to achieve reform and change."

The representatives added: "But despite the observations that we have on the government or some of its elements at the very least, this step put everyone, especially members of the government, in front of their direct responsibilities, and they have to roll up the sleeves of the grandfather. The work stage started and not before the government, but not before the entire system of government.

More time, the people have waited a long time, and now they expect all of us and the government to do things, not words." And they continued: "As we recall what was mentioned in the proposals that we put forward in order to achieve urgent reform in the difficult economic and financial situation and if it is not possible to do everything necessary during the short lifespan of the government, which should not exceed one year, we confirm that it must focus its attention Main points occupy the utmost importance in the life of the people and the fate of the country, including the following:

First: Taking practical steps to combat corruption and overthrow large heads in this file, regardless of the political or societal parties that stand behind them and surround them with legitimacy and protection. And not only make rhetoric; Unfortunately, as usual. It has an unenviable future ahead of it, as people's patience is almost exhausted. And they no longer endure energy.

Second: Serious concrete steps must be taken to impose the prestige of the state, the rule of law, maintain order and address armed gangs and outlaws without discrimination or favoritism; People were fed up with gangs at the expense of the state and the rule of law.

Third: Urgent steps must be taken in terms of improving services, whether on the health level and bypassing the Corona pandemic crisis or the economic and financial crisis and the resulting measures, provided that the salaries of employees and retirees are not compromised.

Fourth: The government must provide everything that can convince the citizen of its seriousness and its keenness to hold urgent elections, and not only that. Their rejection of what is happening, as happened in the recent elections, which we are still experiencing unfortunately bad effects.”

They affirmed by saying:“ As for us as part of the legislative authority, we will spare no effort in supporting and paying it and doing everything necessary for its success in its work and alleviating the suffering of our patient people, provided that it adheres to what she promised to the extent of her seriousness and her relentless pursuit to achieve the above and to the extent of her commitment to implementing her government program, especially as it relates to ending corruption and restricting it." LINK