More Iraqi News Monday PM 11-9-20
More Iraqi News Monday PM 11-9-20
TLM724 Administrator BondLady’s Corner
Al-Kazemi meets with the Finance Committee to discuss the borrowing law and the 2021 budget
Mustafa Al-Kazemi, Prime Minister Money and business Economy News – Baghdad On Monday, the Parliamentary Finance Committee held a meeting in the presence of Prime Minister Mustafa to discuss the borrowing law.
In a brief statement seen by Al-Iqtisad News, the Media Department stated that "a meeting brought together the Prime Minister and members of the Parliamentary Finance Committee to discuss the borrowing law and the 2021 budget." Number of observations: 173, date added 09/11/2020 https://economy-news.net/content.php?id=22604
Parliamentary law: Al-Kazemi will borrow sums that the Iraqi state has not borrowed since its inception
Money and business Economy News _ Baghdad The Parliamentary Legal Committee revealed, on Monday, the size of the Iraqi debt, indicating that Al-Kazemi will borrow 40 trillion dinars, which is an amount that the Iraqi state has not borrowed since its establishment.
"The Al-Kazemi government is trying to borrow 41 trillion dinars for a period of 100 days, while the volume of debts since the establishment of Iraq has reached 54 billion dollars," said Hussein Al-Oqabi, a member of the committee.
"The government has not provided any convincing answer regarding the size of the loans it will borrow and the actual need for them, especially with the size of the financial crisis in the country," Al-Uqabi added.
He explained that "the loans do not include the establishment of factories or investment interests for Iraq and everyone should hold the government accountable and know what is going on behind the scenes and not leave the government bargaining over the salaries of employees." Suspect Number of observations 119 Date added 09/11/2020 https://economy-news.net/content.php?id=22605
Al-Dahlaki calls on Finance Minister Ali Allawi to resign before Iraq reaches a state of collapse
Rebounds Monday, November 9, 2020 15:29 Representative Raad Al-Dahlaki said that the Minister of Finance, as it seems, is mistakenly or perhaps unaware of what he is saying, when he talks about the lack of financial liquidity to pay salaries, at a time when he knows well and has full numbers that the revenues of the border crossings, taxes, oil imports, and state property rent allowances are sufficient to pay Salaries are for several months to come, not just this month.
He pointed out that "the Minister of Finance is not aware of the extent of the danger in which the country has been placed, while he is dealing with the crisis in a vague manner and is striving to throw the ball into the court of the House of Representatives under the pretext of the borrowing law, in which no two disagree that the amount placed in it increases question marks on the performance of this minister and his intentions instead of intercession. for him".
Al-Dahlaki added, "The Minister of Finance does not know what his real goal is from such an insistence on bringing the country to the brink of collapse and popular upheaval, but all we know is that keeping this man in his position is suicide for Iraq, and the prime minister must, in case he wants to maintain security and societal calm, dismiss a minister."
"Finance and the fastest time, and the Ministry of Finance will transfer to another competent and professional person capable of managing the crisis before things go out into unpleasant curves." LINK
The stability of the dollar exchange rate in the local markets
Market Economy News _ Baghdad The exchange rates of the dollar stabilized in the main stock markets and local markets on Monday (November 9, 2020). The Kifah Stock Exchange recorded 124,950 dinars against $ 100, the same price as yesterday. As for the exchange rates in the local markets, they were:
Sales price: 125,500 dinars per $ 100. Purchase price: 124,500 dinars per $ 100.
The exchange rates in Basra Governorate were recorded at 125,000 dinars per 100 dollars.
While the exchange rates in Erbil governorate recorded 125,150 dinars per 100 dollars.
Number of observations 142 Date added 09/11/2020
Oil rises to more than 2.5 percent
Economie| 11:46 - 11/09/2020 Follow-up - Mawazine News Oil prices jumped, at the beginning of the week's trading, today, Monday, by more than 2.5%, with the increase in demand for oil in light of the decline of the dollar in global markets.
By 09:15 Moscow time, US West Texas Intermediate crude futures were trading at $ 38.15 a barrel, 2.72% higher than the previous settlement price.
Brent crude futures were trading at $ 40.49 a barrel, an increase of 2.64% over the previous closing price, according to Bloomberg data. Oil is recovering from a 4% drop on Friday, rising with the rest of the financial markets. https://www.mawazin.net/Details.aspx?jimare=129732
The National Investment Commission confirms strengthening the role of the single window in Baghdad and the provinces
Monday 09, November 2020 09:23 | Economical Views: 142 Baghdad / NINA / The President of the National Investment Commission, Suha Dawoud Najjar, confirmed that one of the most important reasons for streamlining in the investment process in Iraq is related to truly strengthening the role of the single window in the National Authority and investment authorities in the governorates as well as the active technical and economic administration.
She said during her meeting with heads of investment authorities in the provinces, according to a statement of the commission, the Iraqi National News Agency / NINA / a copy of it received, the need for fruitful coordination between the National Investment Commission and the investment authorities in the provinces to advance the investment process in a manner that is commensurate with the needs of the country's economy by preparing an investment map.
A model for Iraq that matches its counterparts in the region and meets the needs of ministries and governorates for projects according to the market and economic need for each project and in a manner that is commensurate with the location and specificity of each province.
And she listened to a number of notes related to Investment Law No. (13) of 2006 and its amendments and the possibility of modification in some of its paragraphs in line with the increasing need to advance this vital sector in a manner that represents an economic revenue generating the state budget.
The heads and representatives of the investment authorities in the governorates provided a detailed explanation of the projects related to their governorates and the reasons and circumstances surrounding each project, along with their proposals to overcome some of the obstacles that the investor faces in serious and deliberate attempts to advance the investment sector in Iraq. https://ninanews.com/Website/News/Details?key=868316
Parliamentary integrity submits a request to host Al-Kazemi
Political Monday 9 November 2020 | 05:08 PM| Views: 60 The Parliamentary Integrity Committee revealed, on Tuesday, that it submitted a new request to the Presidency of Parliament to host Al-Kazemi to discuss what it called the unfair and shameful agreement with Egypt, calling on him to resign with his government in the event that he was unable to manage the Iraqi economy crisis .
A member of the Parliamentary Integrity Committee, Abdul Amir Al-Mayahi, said, "The agreement of Prime Minister Mustafa Al-Kazemi with Egypt to transfer electrical energy to Iraq is shameful and futile .
He added that "the cost of the transport line from Egypt to Iraq is equivalent to building gigantic electricity stations inside Iraq, which means that these agreements are disgraceful against Iraq, stealing its money and the cost and exhaustion of the Iraqi economy ."
Al-Mayahi explained that "the Integrity Committee submitted a new request to the Presidency of the Parliament to host Prime Minister Mustafa Al-Kazemi to discuss with him those agreements that he described as a failure," threatening to "cancel the agreement in Parliament and prevent government confusion at the expense of the Iraqi economy ."
Al-Mayahi called on Prime Minister Mustafa Al-Kazemi to "submit his resignation immediately if he is unable to manage the Iraqi economy and foreign relations and leave the choice to the Iraqi people by choosing whomever they deem appropriate through early elections." https://aynaliraqnews.com/index.php?aa=news&id22=140650
The ouster of Al-Halbousi ... after they were threats that turned into a movement that gathered signatures to withdraw confidence
Follow-up Monday, November 09, 2020 01:12 PM The talk about ousting Parliament Speaker Muhammad al-Halbousi has shifted from mere threats waved by political forces to moves to collect signatures from members of Parliament to request the withdrawal of confidence from him.
The formation of the "Iraqi Front", which included representatives from the northern and western Iraqi provinces, was announced, in an indication of the beginning of an intense political struggle in these areas, ahead of the early legislative elections.
Especially after the front's response since its formation to correct the parliamentary work, and the talk of some of its members about the intention of the "front" to work on removing Parliament Speaker Muhammad al-Halbousi.
Within the "Iraqi Front" there are five forces, which are the "Arab Project" led by Khamis Al-Khanjar, the "Salvation and Development Front" headed by Osama Al-Nujaifi, the "National People" led by Ahmed Abdullah Al-Jubouri (Abu Mazen), the Iraqi Islamic Party, and the Iraqi Bloc Independent.
The 35 members of the Iraqi Front held a meeting at the house of MP Qassem Al-Fahdawi, to discuss several issues, including the replacement of Al-Halbousi, in conjunction with a similar meeting held by the Speaker of Parliament with three former heads of the legislative authority, namely Salim al-Jubouri, Mahmoud al-Mashhadani and Hajim Al-Hasani, in the presence of former Deputy Prime Minister Saleh Al-Mutlaq.
The Front also stated, in a statement, that it "decided to collect the signatures of 110 deputies, according to the law, to submit a request to the Presidency of the Council of Representatives to withdraw confidence from Muhammad al- Halbousi, Speaker of Parliament."
The argument of this new camp is based on what it considers the speaker’s violations and courtesy of him affecting human rights issues related to residents of liberated cities, as well as passing laws pursuant to deals with leaders of blocs, including the clause related to electoral districts.
For his part, former MP Hamid al-Mutlaq said that those who disagree with the speaker of parliament today and are working hard to remove and replace him, were with him in one project in the past, and they had the intention to enter the next elections together.
Al-Mutlaq indicated that "the movement to dismiss Al- Halbousi can be understood from two sides. The first is due to the failure to perform his task in presiding over the parliament, and in this case, the right is with those who want to be dismissed, and the other side is not without harm to interests and intersections between politicians." LINK
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