More Iraqi News Monday PM 12-6-21
More Iraqi News Monday PM 12-6-21
TLM724 Administrator BondLady’s Corner
Cougar: The Government Has Boosted The Cash Reserve By About $10 Billion
beauty cougar money and business Economy News – Baghdad A former member of the Parliamentary Finance Committee, Jamal Cougar, said on Monday that the current government was able to boost foreign exchange reserves by nearly $10 billion in less than a year, even though the treasury was "almost empty."
Cougar said, in a statement reported by the official "Al-Sabah" newspaper and seen by "Economy News", that "the government of the current Prime Minister, Mustafa Al-Kazemi, has suffered a financial crisis, but during the last four months there has been a breakthrough," noting,
"But we cannot say that the state treasury is full and the conditions are The economy is convenient for many reasons."
He added that "in the 2022 budget, Iraq will have passed the severe deficit stage, but this does not mean that we are in a state of economic recovery."
He pointed out that "during this year, the bank reserve was strengthened by more than ten billion dollars, and this is a positive point that is calculated for the current government," noting that
"the deficit included in the current budget was originally a planned deficit, so we will be facing the absence of a deficit, and in In this case we will turn into abundance, but this abundance is not in such large numbers.”
He explained that "the bank reserve was on the edge, and there were warnings to the Iraqi government that if the bank reserve decreased, the Iraqi currency would lose its purchasing power,
so it was strengthened, and now we have overcome the problem of strengthening the bank reserve to some extent, and there remain debts for some Iraqi banks that must be addressed."".
Views 0 Date added 06/12/2021 https://economy-news.net/content.php?id=26900
After Raising The Price Of Saudi Oil, Oil Prices Are Rising Again
Monday 06 December 2021 10:48 | economic Number of readings: 250 Baghdad / NINA / - Oil prices rose today, Monday, after Saudi Arabia raised the prices of crude sold to Asia and the United States.
Brent crude futures rose 2.22% to $71.43 a barrel.
Meanwhile, US West Texas Intermediate crude futures rose 2.43% to $67.87 a barrel, according to Bloomberg website data.
On Sunday, Saudi Arabia, the world's largest oil exporter, raised the official selling price of Arab Light crude to Asia and the United States for the month of January by 80 cents compared to the previous month.
The increase came despite a decision last week by the Organization of Petroleum Exporting Countries "OPEC" and its allies, including Russia, a group known as "OPEC +", to continue increasing supplies by 400,000 barrels per day in January 2022.
Prices also received a boost due to the waning prospects of increasing Iranian oil exports after the indirect talks between Washington and Tehran with the aim of reviving the 2015 nuclear agreement stopped. / https://ninanews.com/Website/News/Details?key=943132
Iraq Supports A “Pressure Alliance” Against Countries That Refuse To Return The Smuggled Money
Monday 06 December 2021 205 Baghdad: Tariq Al-Araji Iraq called on the affected countries to launch a pressure bloc opposite the countries that hold the smuggled funds and refrain from returning them, and which provide a safe haven for the corrupt.
The Director General of the Recovery Department in the Integrity Commission, Moataz Faisal Al-Abbasi, told Al-Sabah: "Iraq was present at the meeting of the States Parties to the United Nations Convention against Corruption, to deliberate on the Agreement on Experience, Successful Experiences, and Obstacles to the Work of the Competent Anti-Corruption Authorities,"
noting that "a representative of Iraq, the head of the Federal Integrity Commission, Judge Alaa Jawad Hamid, called for activating the recovery of funds and encouraging countries to conclude memoranda of understanding within the framework of the international agreement and dealing with the judiciary.
Iraq shows a tangible willingness to support the "exceptional" efforts to chase after its smuggled billions, especially after the recommendations of the international conference that was held in Baghdad in mid-September. And if the concerned circles are trying to remain optimistic about recovering “crumbs” of sums that the President of the Republic, Barham Salih, estimated at more than 150 billion dollars, then the search for the returns of these sums, and even capital, will need more, starting with identifying the countries, individuals and commercial interests that they established Contracting with law firms specialized in tracking capital, and pushing for the formation of an "international alliance of the affected countries" that overcome obstacles with the force of international agreements.
Al-Abbasi added, "Iraq sees the need to support law enforcement agencies, simplify the procedures for accepting international recovery files, and address dual nationality of those convicted of corruption and money smuggling cases, to be followed up under judicial rulings," calling on "affected countries such as Iraq, to launch an international bloc pressing against the countries that hold the money." The one that refuses to return the money and provides a safe haven for the smuggled money and its proceeds.”
Al-Abbasi pointed out that "Iraq established, in one of the recommendations of the last conference, the necessity of creating an international pressure group to work with the countries that hold the looted funds and assets, and whose refraining from cooperation is confirmed, in accordance with the provisions of Chapter Five of the UN Convention against Corruption," adding:
The bloc to use national and international procedures, including the formation of international courts specialized in extradition, and the issuance of a bulletin on countries that refrain from providing assistance. According to the Director General of the Recovery Department, Iraq requested the issuance of the red notice from the International Criminal Police Organization (Interpol) for the purpose of assisting the police in circulating the arrest warrant issued by the national judicial authorities against the fugitives and wanted persons. Specialists believe that the arrangement of the "internal political house" LINK
Al-Kazemi discusses with the British Foreign Secretary ending the combat role of the international coalition
Today, Monday, Prime Minister Mustafa Al-Kadhimi and British Foreign Secretary Lise Truss discussed joint coordination to end the combat role of the international coalition.
A statement from the Prime Minister's Office stated that "Al-Kazemi received, today, a phone call from British Foreign Secretary Liz Truss," noting that "during the call, they discussed bilateral relations between the two countries, and ways to develop them in the political and economic fields, and in the field of investment, and discussed developments in the situation in the country." the region and Iraq's pivotal role in promoting stability."
He added that "the contact also witnessed a discussion of the future cooperation of the two countries in the war against terrorism and the pursuit of the remnants of ISIS terrorist gangs, and the joint coordination between Baghdad and London regarding ending the combat role of the international coalition, and the transition to the role of advice, assistance and empowerment, in a manner that enhances security and stability in Iraq and the region." https://www.radionawa.com/all-detail.aspx?jimare=26909
Cabinet Directs To Facilitate Granting Entry Visas To Investors
Planning Minister Khaled Battal Al-Najm
money and business Economy News – Baghdad The Minister of Planning, Khaled Battal Al-Najm, announced that the Council of Ministers has taken a decision to facilitate the procedures for granting entry visas to foreign businessmen and investors to support the investment movement in Iraq.
A statement by the ministry, seen by Al-Iqtisad News, stated that "Al-Najm met the Turkish ambassador to Baghdad, Ali Reza Günay, and his accompanying delegation. During the meeting, they discussed aspects of joint cooperation between the two friendly countries, in the commercial, investment and economic fields and ways to develop them."
The statement added: "It was discussed facilitating the procedures for granting entry visas to businessmen and investors from both countries," noting that "the star confirmed that the Council of Ministers took a decision to facilitate these procedures and grant entry visas to businessmen and foreign investors easily, to support the investment movement in the country."
He pointed out that "the two parties discussed joint cooperation in the field of road transport and railways, by working on the construction of the dry canal, which includes Highway No. 2 and the railway linking the port of Faw and Turkish territory, because of the importance of this project in achieving development."
He explained that "the file of hospital projects implemented by Turkish companies, and the latest developments in this file, were also discussed, and they agreed on the need to complete these projects in full and as soon as possible after addressing all the problems that led to the delay in their completion."
https://economy-news.net/content.php?id=26899
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