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More Iraqi News Friday PM 8-21-20

More Iraqi News Friday PM 8-21-20

TLM724 Administrator BondLady’s Corner

A New High For The Dollar In Iraq

Time: 08/21/2020 10:03:02 Read: 6,955 times  {Baghdad: Al Furat News} Today, the foreign currency markets in Iraq recorded a slight increase in the exchange rate of the US dollar against the Iraqi dinar.

The prices of selling and buying dollars in exchange companies and offices were as follows:

The selling price of one dollar was 1235 dinars, or 123 thousand and 500 dinars for one hundred dollars.

The purchase price of the dollar is 1225 dinars, or 122 thousand and 500 dinars per hundred dollars.

Foreign exchange rates, gold and crude oil until the preparation of this news:

The euro The global price: 100 euros = 118,80 dollars of sterling

The global price: 100 pounds = 132,55 dollars of the Turkish lira

Global price: 100 dollars = 729,53 Turkish lira

The price of an ounce of gold worldwide = 1947.55 dollars,

The price of a barrel of Brent crude oil = 45.00 dollars, the price of a barrel of US crude oil = 42.83 dollars.  LINK

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Oil Prices Are Rising As Producers Talk About Efforts To Curb Supplies

Friday 21, August 2020 11:35 | EconomicalViews: 58  Baghdad / NINA / Oil prices rose today, Friday, and are on the path of achieving gains for the third consecutive week, as they were strengthened by the efforts of major crude producers to curb production in light of concerns about the economic recovery from the Corona virus pandemic.

U.S. West Texas Intermediate crude futures rose 13 cents, or 0.3 percent, to $ 42.95 a barrel by this morning, and are heading towards a 2 percent rise for the week.

Brent crude futures rose 17 cents, or 0.4 percent, to $ 45.07 a barrel and are heading for a 0.5 percent increase for the week.

The two benchmarks fell about 1 percent on Thursday due to economic concerns, after weekly US jobless claims exceeded expectations.

An internal report by the Organization of the Petroleum Exporting Countries (OPEC) and allies revealed that the group known as OPEC + is focused on ensuring that members whose production exceeds their pledges will reduce production, as indicated after a meeting of OPEC + on Wednesday.

Reuters reported that OPEC + concluded that some members would need to cut production by 2.31 million barrels per day to compensate for the excess supplies they recorded recently.

Among OPEC members, Iraq and Nigeria were the least compliant, and even the UAE, which implemented voluntary cuts in June, recorded a production surplus of about 50,000 bpd over the course of May and June.

The internal report also pointed to threats to demand, to show that OPEC + expects a decrease in oil demand in 2020 by 9.1 million barrels per day, which is 100 thousand barrels per day more than its previous forecast.

It also concluded that if a second, prolonged wave of infections hit China, India, Europe and the United States in the second half of the year, demand could decline by 11.2 million barrels per day in 2020./ End 9

https://ninanews.com/Website/News/Details?key=851246

Iran Admits An Economic "Mistake" Towards Iraq And Considers Ilam Its Gateway To The Mediterranean

Alshalamcheh outlet   Arab and international  Economy News – Baghdad  The Director General of the Organization of Trade and Development of Iran, Hamid Zadbom, announced the readiness to grant Iraqi merchants and businessmen facilities to attract them, while the representative of Ilam in the Islamic Consultative Assembly, Sarah Fellahi, expressed an economic "mistake" that her country made towards Iraq.

Zadboom, talked about the application of economic incentives and special tax discounts for foreign businessmen and merchants who trade at the borders of Mehran, expressing his willingness to grant discounts to Iraqi businessmen to attract them, according to the Iranian Kurd Press website.

The Iranian Foreign Minister, Javad Zarif, recently announced, in a meeting with the representative of Ilam Governorate in the Islamic Shura Council, a plan to establish joint industrial zones on the Iraqi borders, where joint products will be created with the Iraqi brand, except that it is an "important step" in facing sanctions.

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And on the proposal of Ilam's representative to establish a common market with Iraq, he explained that if the opinion of the Iraqi side is obtained through border and provincial diplomacy, this would provide all the conditions for creating a common market on the borders of Mahran.

Fallahi considered the development of the economic and commercial infrastructure in Ilam Governorate one of the "important" issues, noting that the "close" cultural affinity between the people of Ilam and Iraq is a very good ground for expanding relations with this country.

She explained that Mehran's borders are an important area for economic relations with neighboring Iraq, adding that “with the spread of the Corona virus, economic and trade relations with Iraq have become severely restricted, and we have acted very badly in economic diplomacy with our neighbors, and an important market such as Iraq has been abandoned, which passes through He crossed it in the border region of Mehran, and we are trying to find Ilam as a gateway to the Mediterranean. "

And the head of the Iran-Iraq Chamber of Commerce, Yahya Al Ishaq, announced on Wednesday (July 15, 2020) that his country's exports to Iraq decreased by 30% during the current year 2020, compared to the previous year 2019.

It is noteworthy that Iraq decided, with the start of the spread of the Corona virus, to close its border ports, with the exception of commercial exchanges, and the import of necessary goods and goods.

Number of observations 92 Date of addendum 08/21/2020  https://economy-news.net/content.php?id=21534

Head Of The Integrity Commission: 54 Convicted Fugitives Arrested Abroad And Obstacles Hindering Recovery Of Funds

Friday 21, August 2020 14:43 | PoliticalViews: 122  Baghdad / NINA / The head of the Integrity Commission, Mazhar Turki Abd, revealed the arrest of 54 convicted fugitives outside Iraq, while indicating several obstacles that hinder the recovery of those convicted of corruption and smuggled assets.

Abed said in an interview with the Iraqi News Agency (INA): “The obstacles to recovering the money are banking secrecy, the failure to disclose the accounts of the accused, the refusal of the countries hosting the smuggled funds to conduct an investigation,

in addition to the absence of recent bilateral agreements to recover funds with most Countries, stressing the necessity of requiring states to implement the provisions of international agreements that allow access to bank accounts of those convicted of corruption crimes, and to contract with companies for investigation and legal advice, and to search and verify smuggled funds in countries that are their incubators, which refuse to cooperate in this field, as well as to initiate the conclusion Agreements and memoranda of understanding with countries with which there are no agreements to recover funds.

This can be addressed by amending the laws related to crimes related to smuggled money, determining the amount of damage to public money before proceeding to refer administrative investigations to the commission, in addition to including judicial decisions on waste of public money or embezzlement of a judgmental clause related to the value of money and the decision to seize and recover it, and request precautionary seizure.

From the legal representative of the concerned authority as soon as the administrative investigations begin, and to set a specific time for investigations conducted by ministries and agencies not associated with a ministry; For the rapid detection of crime, and to prevent the waste, spending and transfer of funds. "

Abd affirmed that "the commission is working to pursue the fugitive convicts outside Iraq, through the Recovery Department, in cooperation and coordination with the relevant authorities, to besiege the fugitives and not provide a safe haven for them," noting that "(54) convicts have been arrested and (Cool recovered.

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Among them is a minister and who is of his rank, and he explained that "cooperation in the field of recovering money and convicts differs from one country to another," noting that "the exchange of interests, reciprocity and harmonization of national laws with the United Nations Convention against Corruption plays an important role in international cooperation in this field."

Addressing these obstacles is done by providing high-level Iraqi delegations with a list of convicts, coupled with files organized by the commission in accordance with international standards; For the purpose of putting it up for discussion when negotiating with states in accordance with common interests, with the involvement of the Integrity Commission in those delegations; For the purpose of submitting requests for restitution and participating in discussions, and the need to expedite the enactment of a law renouncing foreign nationality for those who assume a high-ranking sovereign or security position;

In implementation of the requirements of Article 18 / Fourth of the Constitution, as well as concluding memoranda of understanding with the countries in which the accused reside, in order to overcome the obstacle of the difference in legal systems and the handover of fugitive convicts and accused, especially those against whom international red bulletins or research broadcasts were issued.

Abd added that "the total of arrest and recruitment orders announced by the commission during the year 2019 issued against a number of officials amounted to (226) orders, of which (176) were executed, indicating that" the commission is actively following up the arrest warrants issued by the judiciary; As a result of its investigations, the responsibility for their implementation rests with the law enforcement agencies, namely the Ministry of Interior. ”

He added that“ the legal departments in the institutions to which the employee belongs are responsible for implementing recruitment orders, ”referring to“ coordination and joint cooperation between the authority and the various security agencies of the state through the presence of Coordinators and legal representatives periodically follow up on corruption files, exchange information, implement arrest warrants, and locate fugitive suspects.

The head of the commission noted that “the Integrity Commission’s participation in the investigation committee formed to review electricity contracts as it is the body competent to investigate and investigate in accordance with the powers granted by its enforceable law and the information it has in terms of issues and information base and the results of the subsequent investigation”, pointing out that “the commission formed a working group A field worker who supported the work of the committee is composed of investigators and auditors of the best qualifications in Baghdad and the provinces to follow this file.

As for the effect of the decision to cancel the offices of the general inspectors on the work of the Integrity Commission, Obaid stated that “the commission had previously warned against the calls of some to notch the oversight system and stood against the decision to abolish those offices, as they represent contact oversight of the work of ministries and entities not associated with a ministry,”

explaining that "This action would violate Iraq's international obligations, especially the requirements of the United Nations Convention against Corruption, which stresses the importance of establishing a national anti-corruption system, to which Iraq responded by establishing the Integrity Commission, the offices of the general inspectors and the Office of Financial Supervision, and it is natural that the work of this system is affected. Generally speaking, it lost one of its important links and levers in fighting corruption. "

He pointed out that there is a high level of coordination between the Parliamentary Integrity Committee and the Commission, and the image of this coordination lies in the referral of the topics that come to the Parliamentary Commission to the Commission for the purpose of taking the necessary action in regard to them according to the contexts, stressing that “the Parliamentary Integrity Committee supported the Commission by passing its law and the law of gain. illegal.

He denied Abdul "news stories about the arrival of 21 international investigators; To undertake the investigation of major corruption cases, "noting" the existence of previous cooperation by the commission with a team of international investigators, the aspects of which were confined to the exchange of experiences, training, and access to successful experiences in the field of recovering convicts and smuggled money. "/ https://ninanews.com/Website/News/Details?key=851281

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Iraq's Foreign Debts Exceed $ 30 Billion

14:22 - 08/21/2020  The information / Baghdad ...Today, Friday, the Parliamentary Finance Committee revealed the volume of external and internal debts owed by the Iraqi government.

Committee rapporteur, Ahmad Al-Saffar, said, “His committee has stopped external borrowing since 2019, but the financial crisis, the Corona pandemic, and the government's inability to pay the salaries of employees prompted us to approve an external borrowing only once without recurrence, in the amount of $ 5 billion from the World Bank, in addition to borrowing more. From 15 trillion dinars from Iraqi banks to secure the salaries of employees for the current year.

Al-Saffar confirmed that “ Iraq's external debts have exceeded 30 billion dollars, while the internal debt exceeds 15 trillion Iraqi dinars, pointing out that his committee obligated the government to implement a program of financial and economic reforms within 60 days, and the deadline expires on the twenty-fourth of this month and includes control of other financial revenues and rationalization Spending and not being totally dependent on oil.

Al-Saffar warned of "the negative consequences of foreign debts on the living conditions, stressing the use of external borrowing and directing it towards productive projects that promote the economy and push the pace of development towards the better without any unsuccessful accumulation of debts." End / 25 https://www.almaalomah.com/2020/08/21/491047/

Bremer: A Peaceful Transition In Iraq Does Not Exist In Other Countries

POSTED ON 2020-08-21 BY SOTALIRAQ  The former civil administrator of Iraq, Paul Bremer, said, Thursday, that a peaceful transition in Iraq does not exist in other countries.

Bremer said, "There are three elements of security that have created problems in Iraq, which are that the coalition forces did not have rules of engagement, and we did not have sufficient military forces on the ground to provide security for the Iraqi people, and we did not have anti-terrorism policies."

He added, "The Iraqi people continue to work forward, and a peaceful transition in Iraq does not exist in other countries."   LINK

Trump Shows Confidence In Kazemi: Our Forces Will Be Out Of Iraq Within Three Years

POSTED ON 2020-08-21 BY SOTALIRAQ

On Thursday, US President Donald Trump informed Iraqi Prime Minister Mustafa Al-Kazemi, who is visiting Washington, of his commitment to a rapid exit of the international coalition forces from Iraq within 3 years.

The official Iraqi News Agency quoted Trump as saying, during a meeting with Al-Kazemi in the American capital, Washington, “We withdrew largely from Iraq and very few soldiers remained. We look forward to the day when the need for our soldiers to stay there ends. "

Trump indicated that the US forces are in Iraq to counter any possible Iranian move.

"Conscious" reported that the US President affirmed his commitment "to a speedy exit of the coalition forces within 3 years." "Al-Kazemi is a man who I get along very well with," he added.

The agency stated that "Al-Kazemi succeeded in leading the strategic dialogue to obtain an American withdrawal from Iraq."

She explained that "the Iraqi and American sides emphasized the need to respect the sovereignty and territorial integrity of Iraq."

She said, "The two sides agreed to form a special team to discuss the mechanisms and timing of the international coalition forces redeployment outside Iraq."   LINK

  

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