More Iraqi News Thursday PM 8-26-21
More Iraqi News Thursday PM 8-26-21
TLM724 Administrator BondLady’s Corner
BONDLADY SITE MEMBER: TOBYBOY: This is rediculius that 200 Billion evaporated, how many tractor trailors are you talking about 15, 20, or 30 that's a lot of money & lots of trucks. You might want to look in the homes of several of the politicians. This is B/S. How many homes will be full with the money.
This is constantly happening time and time again on large sums of dollars. There is no way in hell this money just disappears. As I have been saying for years most of the politicians in Iraq are crooked.
How many of the political leaders of the groups are involved, maybe all of them? Follow the money trail this is not just a few million dollars here. I bet everyone of the politicians and their families are wealthy now along with their grandchildren and great grandchildren & along with the cousins and families of cousins.
BONDLADY SITE MEMBER: TOBYBOY: Who's kidding who as large as this is involved your teenage kid could track this down it is too large of funds to hide. The politicians of this country does not want the money found that's the answer.
Do you know how many hands would have to be involved on this large of stealing the money, maybe a additional 300 more people from start to finish
Finance Minister: About 200 Billion Dollars Have Evaporated From Iraqi Money Smuggled Into State Banks
Political | 03:13 - 26/08/2021 Finance Minister: Nearly 200 billion dollars were smuggled out of Iraq
Baghdad - Mawazine News, Minister of Finance, Ali Allawi, confirmed that nearly 200 billion dollars were smuggled out of Iraq due to corruption.
Allawi said in an interview with a number of media outlets, "Approximately 200 billion dollars were smuggled out of Iraq due to corruption operations," explaining that "it is not easy to recover these funds and we have started dialogue with neighboring countries that received our money."
He stressed that "about 200 billion dollars evaporated from the smuggled Iraqi money in the banks of the countries."
He added that "the insurance sector in Iraq is truly profitable and we want to move it," noting that "the 30% increase in state costs is caused by the increase in the number of employees, their salaries and incentives."
And he indicated that "the foreign debt is about 50 billion dollars," noting that "the debts of the Paris Club have become few after Iraq paid a lot of them."
Allawi warned, "against entering into any external obligations related to debt," stressing, "We are in the process of issuing bonds, and the Iraqis will not buy them without a guarantee that the interests will be
https://www.mawazin.net/Details.aspx?jimare=165112
Finance Minister: The Process Of Changing The Dollar Exchange Rate Contributed To The Reform Of The Economic System / Expanded
Thursday 26 August 2021 14:36 | Economic Number of readings: 153 Baghdad / NINA / - Minister of Finance Ali Abdul-Amir Allawi confirmed that the process of changing the exchange rate of the dollar contributed to the reform of the economic system.
Allawi said in a press statement: "Iraq's financial policy during a year and a half passed through five exceptional circumstances, and we entered the beginning of the government's work without any financial safety valve."
He added, "The Iraqi economy has changed since 2019, noting that the Corona crisis led to the collapse of oil prices and increased unemployment."
He continued, "We worked as a government policy to control expenditures that were reflected in state revenues."
The Minister of Finance stressed: "The process of changing the exchange rate was not easy, and the dollar exchange rate should have been changed years ago, and this contributed to reforming the economic system."
He pointed out: "Our fiscal and monetary policy is reformist and must continue, and it aims at balancing oil and maximizing other resources."
He said, "We started with correct reform work, starting with banks and customs, and we came out safely from the difficult economic situation."
Allawi pointed to the completion of the preparation of the 2022 budget.
He said, "The 2022 budget will be presented within 3 weeks to the Council of Ministers."
He explained: "The Kurdistan region has not fulfilled its obligations regarding the payment of oil prices, and that the price of oil obtained by the region is above the equilibrium price by about 10 dollars."
He added: "For humanitarian purposes, the Council of Ministers granted the region's salaries according to the council's directive and with a reservation from the finances, and our position is neutral, professional and objective regarding the region's salaries, and it must be given 200 billion dinars per month." pointed to:"
And the minister indicated: "65% of the state budget goes to salaries and the delay in disbursing salaries is caused by the massive inflation in Iraq."
He stressed: “We are not against government employment, but we are against the loss of productivity in the state sectors.”/ End https://ninanews.com/Website/News/Details?key=923586
The Minister Of Finance Announces The Completion Of The Preparation Of The 2022 Budget And Comments On The Exchange Rate Change
Political | 02:12 - 26/08/2021 Baghdad - Mawazine News The Ministry of Finance, Ali Abdul-Amir Allawi, announced, on Thursday, the completion of the preparation of the 2022 budget, revealing the date of its presentation in the Council of Ministers.
Allawi said, "Iraq's financial policy during a year and a half went through five exceptional circumstances, and we entered the beginning of the government's work without any financial safety valve."
He added, "The Iraqi economy has changed since 2019, the obligations of the previous government, and the Corona crisis led to the collapse of oil prices and increased unemployment. We worked as a government policy to control expenditures that were reflected in state revenues, and that the process of changing the exchange rate was not easy."
He continued, "The dollar exchange rate should have been changed years ago, which reflected something beneficial to reform the economic system. Our fiscal and monetary policy is reformist and must continue."
He pointed out, "Our fiscal policy aims at balancing oil and maximizing other resources, and we have started correct reform work, starting with banks and customs, and we have come out safely from the difficult economic situation."
The Minister of Finance said, "The preparation of the 2022 budget has been completed, and it will be presented within 3 weeks to the Council of Ministers."
He pointed out, "The exchange rate reflects many issues and its rise is beneficial to some economic sectors," stressing that "the Kurdistan region has not implemented its obligations regarding the payment of oil prices."
The Minister of Finance stressed that "the improvement in oil prices does not solve the financial distress quickly due to internal and external debts." https://www.mawazin.net/Details.aspx?jimare=165106
In Numbers.. Weekly Trading Indicators For The Iraq Stock Exchange
Thursday, August 26, 2021 3:49 PM Baghdad / National News Center
Today, Thursday, the Iraqi Stock Exchange announced the trading results of the fourth week of August 2021.
The media office of the market stated, in a statement received by the “National Central News Agency”, that “the Iraqi Stock Exchange organized during the fourth week of August 2021 five trading sessions from Sunday, 22/08/2021 to Thursday, 08/26/2021. The statement added, "During this week, the following indicators were checked:
1. The number of shares traded this week reached more than (7) billion shares.
2. The value of traded shares this week amounted to more than (5) billion dinars.
3. The market trading index closed for the first session of the week at (533.03) points, while the index closed at the end of the week at (596.92) points, achieving an increase of (10.70%) from its closing in the first session.
4. During the week, more than (2800) contracts of buying and selling were executed on the shares of companies listed in the market. https://nnciraq.com/82563/
Al-Kazemi: The Baghdad Conference Embodies Iraq's Vision In Establishing The Best Relations With Its Surroundings And The World
Political | 03:12 - 26/08/2021 Baghdad - Mawazine News, Prime Minister Mustafa Al-Kazemi confirmed, on Thursday, that the Baghdad conference embodies Iraq's vision of the need to establish the best relations with its surroundings and with the countries of the world.
Al-Kazemi said during his meeting with Arab and foreign media delegations on the occasion of the Baghdad Conference for Cooperation and Partnership: "We welcome you to Baghdad, peace, and to the Iraq of meeting, cooperation and partnership, and we are preparing to hold the Baghdad Conference for Cooperation and Partnership, which will start its work next Saturday, and it is an important event not only for Iraq, but for the region." all of which".
He pointed out, "There are many challenges we suffer from in the region, and we must all cooperate and unite in solving them, and cross towards creating economic and social integration among the peoples of the region. We look forward to this meeting, and the support it will produce for Iraq's historical role in establishing peace."
He added: "This conference embodies the vision of Iraq , the need to establish better relations with its surroundings and with the countries of the world and Iraq has begun to take its historic role, to be one of peace pillars in the region |?
He pointed out that" Iraq can create a bridge of communication and cooperation and comprehensive integration with all countries Enough with wars, conflicts and disputes.. Iraq calls on all countries of the region to build peace on the basis of integration among the peoples of the region.
” And he stated, “There are great opportunities in Iraq in which the countries of the region can cooperate and contribute, and create a new space for all the peoples of the region; In order to build peace and stability for it, as we are heading to fateful and decisive elections in a month and a half, they will strengthen the democratic path in the country.”
And he added, "We have worked for about a year and two months at various levels to reform the economic, security and political tracks in the country, and we have succeeded in achieving great goals. We are still committed to building an effective, stable and sustainable state. We look forward in all this to regional cooperation with all countries in the region."
Al-Kazemi addressed the media, saying: "It is reliable, dear media professionals, to convey a true image that reflects the positives and achievements of your country, Iraq, and its diversity at various levels, to the world, and you are always influential, and what you will convey will help this ancient country rise again, so that It restores its historical role, which extends back to seven thousand years.
https://www.mawazin.net/Details.aspx?jimare=165111
A Source Of Savings.. Ajyal Fund Details
political| 02:26 - 26/08/2021 Baghdad - Mawazine News, Adviser to the Prime Minister, Mazhar Muhammad Salih, revealed, on Thursday, the details of the Generations Fund, while indicating that the fund will be a source of invested savings for the benefit of the next generation.
Saleh said, according to the official agency, that "the majority of the oil-producing countries or the raw wealth, which is called the group of surplus countries, have pledged to invest the returns of their accumulated wealth from the exports of raw materials and to include them in sovereign investment funds and income-generating tools and assets through various international and local investment activities, which is a matter that maximizes Wealth and assets provide prosperity and well-being for future generations.
Saleh expressed his "support to go towards establishing an Iraqi fund for generations," noting that "such a fund will include part of the financial surplus or the country's official economic surplus, which is based today on some oil revenues."
He stressed that "the fund will be a desirable source of savings that will take over the current generation of managing its investments for the benefit of the next generation, which we call sustainable development," pointing out that "this is the investment pillar that achieves the principle of succession of generations or successive utilization of wealth between generations from the present to the future." .
He added, "A proposal has been submitted to transfer the mechanisms of deductions for the current Kuwait war compensation, which will end early next year, into a national fund for generations to be used according to the vision of the Prime Minister, whereby the funds of the said fund are invested in activities, tools and income-generating assets through a highly diversified investment portfolio (i.e. tools). (financial, assets or real assets) in which there is an element of safety to a large extent of risks, as well as serious thinking about maximizing the proposed fund’s resources in the future from sources of investment returns from other untapped or unexploited natural wealth such as phosphates, sulfur, silicon, gas and other raw materials and untapped natural resources ".
He explained that "the management of such sovereign funds is handled by the central banks in the world on behalf of the government," noting that "the central bank in our country is currently the first financial agent for the government under its effective law and manages the strategic reserve of all official foreign currency and in accordance with international best practices in diversification and reducing Risks and maximizing returns, under the supervision of an independent government agency. https://www.mawazin.net/Details.aspx?jimare=165107
Oil Prices Fall Amid Fears Of More Restrictions
Economie| 08:41 - 26/08/2021 Baghdad - Mawazine News: Oil prices fell, Thursday, amid renewed concerns about the recovery of demand, with the imposition of more restrictions to reduce infections with the Corona virus.
Brent crude was down 45 cents, or 0.6 percent, at $71.80 a barrel by 05:12 GMT, after rising 1.7 percent on Wednesday.
The price of US oil fell 55 cents, or 0.8 percent, to $ 67.81 a barrel, after rising 1.2 percent in the previous session.
New outbreaks fueled by the delta type of coronavirus are raising concerns about the strength of the global economic recovery, hitting demand for oil and other commodities.
The Energy Information Administration (EIA) said US crude stocks fell last week for the third week in a row, while overall fuel demand increased the most since March 2020, helping boost prices by about 10% through Wednesday.
"The major drawdown in US oil inventories was good news, but the sharp decline in crude exports and weak demand for jet fuel prevented an increase in prices," Edward Moya, chief analyst at OANDA, said in a note.
Prices made some gains this week due to a major outage in Mexico, where a fire on Sunday at an offshore platform killed at least five workers and halted just over 400,000 barrels per day of production.
https://www.mawazin.net/Details.aspx?jimare=165078
Activating The Consumer Protection Law Supports Market Monitoring
Thursday 26 August 2021 69 Baghdad: Mustafa Al-Hashemi The Market Research and Consumer Protection Center called on the competent executive authorities to activate Consumer Protection Law No. 1 of 2010, similar to activating the Product Protection Law, because of its impact on controlling market monitoring and limiting industrial fraud, exploitation of citizens and draining their money on goods that are not subject to standardization and control controls. Quality.
The director of the center, Dr. Yahya Kamal Al-Bayati, stressed the necessity of monitoring the markets through the committee to monitor and control the quality of goods in warehouses and markets, in terms of on-site detection of goods and according to the goods covered by the inspection and pre-examination program, as well as evaluating the requirements of storage conditions, inquiring about the source of the goods, proof of conformity certificate and a document. launch her }.
Out of stock date
In a statement to Al-Sabah, Al-Bayati stressed the importance of “not disposing of the goods until the results of the examination appear, as well as monitoring the date of expiry of the goods, and withdrawing the expired ones from the market, which would detect and identify counterfeit goods and take the necessary measures in this regard according to the approved laws.”
He called for “raising awareness of using the QR code in various products, which is currently one of the most important means of marketing various products and investing them in communicating information and data that consumers need, especially in the food industry.” and medicines}.
Market Monitoring Mechanism
Al-Bayati clarified the importance of {supporting the relevant authorities represented by the National Security Agency, the ministries of health, trade and interior, the University of Baghdad / Market Research Center and Consumer Protection, along with the Ministry of Industry and Minerals / Industrial Development Department, the Federation of Iraqi Chambers of Commerce, and the Federation of Iraqi Industries, in their implementation. Fundamental measures against violators, which would enhance the mechanism of the market control system.
He pointed out that {the Central Agency for Standardization and Quality Control is contracted with solid licensed companies to implement the pre-examination program for goods supplied to Iraq, which is related to consumer health and safety, and that the contract came to reduce industrial fraud practices and manipulation of packaging operations in accordance with Consumer Protection Law No. 1 of 2010 }.
Strengthening the executive
Al-Bayati pointed out that “the success of joint work, in this file, requires strengthening the executive authority and security services and supporting them with experienced cadres with experience in applying the law, away from external influences represented by clan separation, threats and other bad practices that are not compatible with their application in the twenty-first century.” LINK
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