More Iraqi News Saturday PM 12-4-21
More Iraqi News Saturday PM 12-4-21
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Al-Kazemi’s Advisor Clarifies The Details Of The Proposed Sovereign Wealth Fund
Political Today, 13:12 Baghdad - INA - Nassar Al-Hajj, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, today, Saturday, the details of the proposed sovereign wealth fund to be established in Iraq, while specifying the entity responsible for its management.
Saleh told the Iraqi News Agency (INA): "The world's sovereign wealth funds were established at least 6 decades ago and were built on the fact that the returns from the resources of the producing and exporting countries of raw materials as financial surpluses have become an important part of capital wealth that can be invested, maximized and continuously increasing instead of consuming it with budgets.
Large operational budgets in general annual budgets are mostly unproductive.
He added that "the philosophy of defining those returns from raw resources such as oil and other depleted natural wealth is not necessarily for consumer spending, but rather they are capital assets in themselves, which requires their sustainability and maximizing their growth by investing for the benefit of the nation in a profound cumulative way for wealth itself and across generations, and based on that and in order to serve capital assets."
The current resulting from the revenues of raw materials, including oil wealth, the majority of the oil-producing countries in particular have established sovereign investment funds from their surpluses from oil revenues and employed them as capital in various investment assets, whether financial or real and generating income to increase the capital in them as a growing wealth for the benefit of the people".
He continued: "Therefore, double returns in the form of income will accumulate within the investment of the resources of these sovereign funds in the form of an expanding capital wealth, realizing at the same time that the sovereign fund is an investment fund in nature, and thus the sovereign fund goes to a lofty goal, which is to maximize the nation's depleted resources for the benefit of sustainable development goals from during the intergenerational economic boom.
He stressed that "the current generation should provide supplies for sustainable welfare for the next generation and in accordance with the best investment practices for the assets that will be included in the sovereign investment portfolio and within the framework of the sovereign wealth fund itself," explaining that "the sovereign wealth fund is often managed by the executive authority as a direct sovereign entity. And in cooperation between the country’s financial and monetary authorities, and the performance of the sovereign fund is monitored by legislators in the House of Representatives within the country’s legislative assets and control rules.”
He pointed out that "one of the most important themes that were discussed on the subject of the Iraqi sovereign fund in a symposium he held at the House of Wisdom last September focused on the dilemma (How can a deficit economy over the past 40 years establish a sovereign wealth fund?... And sovereign funds". phenomenon that arose in surplus economies in general).
And he added: "The answer to this question is the adoption of a sovereign wealth fund directed to real investment inward within the framework of exceptional strategic economic and social development and in a different administrative style, which requires the presence of the state's economic sovereignty again in the management of the economic project by moving the idle projects and idle wealth of the public and private sectors,
That is, in partnership with the market and foreign investment, and this will lead to the development and development of the national economy and its transformation into an economy of sustainable surplus on investment activities that lead to diversification of the sectors of the economy.
He noted that "the proposed inward-oriented sovereign fund is managed through a system similar to holding companies, as it was noted that the existing 80 sovereign funds around the world differ from state to state and from fund to fund."
He concluded his speech by saying: "In order to avoid legislative difficulties, it was proposed that the Iraqi Fund for Foreign Development in the Iraqi Ministry of Finance be the legal basis for managing the next sovereign wealth fund for Iraq after agreeing on the style, model and nature of the fund, whose money will necessarily be from the state's wealth outside the general budget, mostly and in partnership." financial and administrative resources with the natural and intangible wealth of persons. https://www.ina.iq/142929--.html
Ihsan Al-Shammari To / NINA /: The Meeting Of Al-Amiri's House Indicates Disagreement .. And Al-Sadr Embarrassed The Coordinating Framework
Saturday 04 December 2021 10:59 | political Number of readings: 434 Baghdad / NINA / - Head of the Center for Political Thinking, Ihsan Al-Shammari, said: "The outcomes of the meeting of the leader of the Sadrist movement, Muqtada Al-Sadr, with the coordinating framework in the house of the head of the Al-Fateh Alliance Hadi Al-Amiri, indicate that there is no agreement between the two parties, but rather a reduction in the level of escalation and accusations and an attempt to calm the street and the armed factions.
Al-Shammari added in a statement to the National Iraqi News Agency ( NINA ): "The set of statements issued by each party shows that no agreement has occurred, and therefore it appears that Mr. Al-Sadr is the biggest winner from this meeting, especially since he left the meeting by not changing his conviction (No Sharqiah). Nor Western), and a national majority government, which is a message that everyone is looking for consensus and sharing the state, not work, and thus Al-Sadr succeeded in embarrassing the coordination framework after this meeting.
He explained: "The issue of consensus is related to the electoral merits, the prime ministership, and the portfolios, and these matters were not agreed upon in the meeting, because Al-Sadr is still looking for a majority within the Council of Ministers, that is, half plus one, in addition to the Prime Minister, and this achieves for him the implementation of the ministerial program. and implementation,
but it seems that the coordinating framework does not want al-Sadr to grant these matters, and he is looking for 6 to 7 ministerial seats, and this is what al-Sadr rejects, and so far there is no agreement in this regard.”
He pointed out: "Al-Sadr wants to make the argument that he is a party that can accommodate everyone, but not on the old approach, but on the basis of the approach he plans as a national majority," noting: "Al-Sadr wanted from this meeting to attract the largest number of parties from the coordinating framework, Consequently, he made concessions on the issue of meeting with these parties in order to gain part of the parties to the framework."
The coordinating framework announced the agreement during the meeting with the leader of the Sadrist movement, Muqtada al-Sadr, to continue dialogues and discussions, leading to the development of realistic solutions to the blockage in the political scene.
Meanwhile, the framework forces affirmed that they will continue their legal and public steps with regard to following up on the issue of the election results./ https://ninanews.com/Website/News/Details?Key=942746
A Slight Increase In The Exchange Rates Of The Dollar In The Local Markets
Economie| 11:35 - 04/12/2021 Baghdad - Mawazine News The dollar exchange rates recorded, on Saturday, a slight increase in the main stock exchange and local markets in the capital, Baghdad.
The dollar exchange rate on the Central Kifah Stock Exchange in Baghdad rose today, recording 148,000 thousand dinars, for each $100 bill.
And the prices of buying and selling the dollar have stabilized in exchange companies and local markets in Baghdad, where the selling price reached 148,500 dinars, for each denomination of 100 dollars, while the purchase prices amounted to 147,500 dinars, for each paper denominations of 100 dollars. Ended 29/A 4
https://www.mawazin.net/Details.aspx?jimare=177316
Last Week, Iraq's Oil Exports To America Decreased
Economie| 01:33 - 04/12/2021 Follow-up - Mawazine News, the US Energy Information Administration announced, on Saturday, that Iraq's oil exports to the United States decreased to 221,000 barrels per day during the past week.
The administration said in a report seen by "Mawazine News", that "the average US imports of crude oil during the past week from ten countries amounted to 5.869 million barrels per day, an increase of 314,000 barrels per day compared to the previous week, which amounted to 5.555 million barrels per day."
And she added, "America imported crude oil from Iraq at a rate of 221,000 barrels per day during the past week, lower than the previous week, in which average exports amounted to 245,000 barrels per day," noting that "most of America's oil revenues during the past week came from Canada, at a rate of 3,773 million barrels per day, followed by Mexico at 657,000 barrels per day, then Saudi Arabia with 457,000 barrels per day, and Colombia at 224,000 barrels per day. Ended https://www.mawazin.net/Details.aspx?jimare=177327
Al-Amiri: We Submitted The Appeal To The Federal Court Of The Election Results, And We Have Sufficient Evidence, Technically And Legally
Political | 03:31 - 04/12/2021 Baghdad - Mawazine News, Head of the Al-Fateh Alliance Hadi Al-Amiri confirmed today, Saturday, that the Al-Fateh Alliance continues to challenge the elections to the Federal Court, indicating that it has the technical and legal evidence.
Al-Amiri said during a press conference followed by / Mawazine News /, that "the October elections did not take place in the atmosphere in which we aspire, and that the Commission has proven its inability to manage the elections," noting that "the results of the elections proved the inability of the Commission to manage it."
He pointed out that "the commission did not abide by its procedures and committed a number of violations, the first of which was violating its law by announcing results that represent only 79% of the results," stressing that "the Al-Fateh coalition has doubts about the electoral apparatus."
Al-Amiri explained that "the Al-Fateh coalition expressed in all meetings its fears of tampering with the election results electronically, but the Electoral Commission was reassured that there was no capacity for this manipulation and did not submit any report to the House of Representatives on its organs specifying the level of their validity, because deciding on this is the prerogative of the House of Representatives and not It is within the competence of the Commission.” Ended 29 / h https://www.mawazin.net/Details.aspx?jimare=177341
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