More Iraqi News Tuesday PM 1-18-22
More Iraqi News Tuesday PM 1-18-22
TLM724 Administrator BondLady’s Corner
Masrour Barzani And Al-Amiri Stress The Formation Of A Real Partnership Government That Addresses The Problems Between Erbil And Baghdad
Posted On 2022-01-18 By Sotaliraq The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, and the head of the Al-Fateh Alliance, Hadi al-Amiri, stressed the intensification of efforts to form a real partnership government that addresses the problems between the Kurdistan Regional Government and the federal government in Baghdad.
This came during a meeting of the Prime Minister of the Kurdistan Regional Government with the head of the Al-Fateh Alliance, today, Monday (January 17, 2022), in Erbil.
According to a statement issued by the Kurdistan Regional Government, "The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received Hadi al-Amiri, head of the Al-Fateh Alliance."
During the meeting, the two parties discussed "the latest developments in Iraq and the efforts made to form a new government, emphasizing the intensification of efforts to form a government that preserves the rights of all Iraqi citizens, and achieves stability and true partnership between the components, as well as dealing with problems between the Kurdistan Region and the federal government on the basis of the constitution." .
Al-Amiri arrived this morning in the city of Erbil on a visit to discuss Iraqi political developments following the early parliamentary elections and the formation of the new government.
During his visit, Al-Amiri met with a number of senior officials. He began his visit with a meeting with the President of the Kurdistan Region, Nechirvan Barzani, to meet after that with the President of the Kurdistan Democratic Party, Massoud Barzani.
This comes at a time when the Sadrist movement renewed its efforts to form a majority government that would be able to serve the citizens and overcome all crises and problems.
The efforts of the coordinating framework forces, which rejected the outcomes of the first session of the Iraqi parliament, which was held last Sunday, in which Muhammad al-Halbousi was elected president of the new parliamentary session, did not succeed in holding a comprehensive meeting with the leader of the Sadrist movement Muqtada al-Sadr, who received, on Saturday night, the leader of the Fatah Alliance Hadi al-Amiri alone About the forces of the framework, while the two sides did not reach clear understandings regarding the formation of the new government.
On Saturday, the Coordination Framework Forces, led by former Prime Minister Nuri al-Maliki, announced that they are seeking again to open the door for dialogue with the leader of the Sadrist movement, Muqtada al-Sadr, regarding the formation of the next government, as the latter insists on forming a "national majority" government.
And the Kurdistan Democratic Party and the Patriotic Union of Kurdistan had previously announced, in a statement, that they had agreed to form a joint delegation from the Kurdistan Region in the process of negotiating with the Iraqi political parties on the formation of the new government, and a joint working paper was prepared for this purpose. LINK
In Order To Avoid Setbacks, Financial Sustainability And Curbing The Deficit
Tuesday 18 January 2022 173 Academic Dr. Imad Al-Ani stressed the need for {financial sustainability, curbing the financial deficit, the ability to fulfill future obligations and ensuring credibility and responsibility, by following financial rules that ensure financial sustainability}, explaining that {the first of these rules is the budget balance rule, which aims to reduce the deficit through Rationalizing public spending and raising its efficiency, as is the case in the experience of the European Union, as the Union sets a maximum budget deficit not to exceed 3%.
In his speech to Al-Sabah, Al-Ani explained that {the strong correlation between volatile oil revenues and increased spending may involve risks that impose unsustainable future obligations in the event that oil prices are exposed to a negative shock, which prompts the government to make financial adjustments that are costly and then undermines the development goal of the policy. Finance, which necessitates the adoption of those rules to help isolate politics financial pressures.
Public Debt
He pointed out that {the second rule is the debt rule and aims to determine a safe limit for the public debt for what society can bear without negative effects on stability and economic growth, as International Monetary Fund experts believe that the ratio of public debt to GDP should not exceed 60 percent, but this percentage cannot be relied upon in determining an ideal percentage of the public debt, especially since this percentage varies from one country to another depending on the different factors and variables.”
Natural Resources
In a related matter, a member of the Administrative Board of the Iraqi Economists Association, Ikram Al-Aqeel, said that {in order to find the appropriate financial base that is suitable for application in countries rich in natural resources, the International Monetary Fund has called for adopting the hypothesis that government spending should be regular and described as a general trend line that mediates fluctuations. Revenue and due to changes
the prices}. And Abdel-Aziz warned of the "necessity of establishing funds in which financial assets are deposited in years characterized by high export returns in order to use them in unfavorable later years in which the conditions of international trade exchange are disrupted."
Absolute Value
In a related context, the expert in economic affairs, Dr. Muhammad Shehab, stated that {the spending rule is one of the important financial rules, because it puts an end to total spending or current spending in terms of absolute value and growth rates or as a percentage of GDP with a period of time that often ranges between three to five years, which can be appropriately employed as an operational tool required to narrow the widening of the debt gap, especially when it is synchronized with the debt base or the budget balance rule, it provides an operational tool to achieve fiscal discipline consistent with debt sustainability. LINK
Signing Of An Agreement Between Iraq And The US Agency For International Development
Today, Tuesday, the Ministry of Water Resources announced the signing of an agreement with the US Agency for International Water Development to plan water resources.
In a statement, the ministry stated, "The Minister of Water Resources, Mahdi Rashid Al-Hamdani, signed a memorandum of understanding between the Ministry of Water Resources and the Takamul project funded by the United States Agency for International Development (USAID) in order to support the decision-making project for planning clear water resources and formalizing the joint cooperation between the decision-making support tool." To plan the Iraqi Water Resources (IWippDsT) and the Ministry of Water Resources and closely coordinate efforts within the Ministry's Integration Project in accordance with the joint Memorandum of Understanding.
She added, "It is one of the ministries that provides integrated management of water resources for the Iraqi citizen and is responsible for this vital and strategic resource by achieving a balance between competitive demands for irrigation, municipal and industrial water supplies and electric power, in addition to its control over floods, water scarcity management, and environmental requirements, including the restoration of the marshes and Shatt al-Arab." ".
And she added, "The signing ceremony was attended by the Ministry's Administrative Undersecretary, the Director General of the Planning and Follow-up Department, and a number of specialists and concerned heads of departments." https://www.radionawa.com/all-detail.aspx?jimare=27610
It Is The Highest In 7 Years..A Big Jump In Oil Prices
Economie| 08:31 - 18/01/2022 Follow-up - Mawazine News : Oil prices recorded, on Tuesday, a huge jump, to reach the highest level in more than seven years, amid fears of a possible disruption of supplies after the recent attack on the UAE. Brent crude futures rose $1.02, or 1.09%, to $87.33 a barrel.
US West Texas Intermediate crude futures also jumped $1.15, or 1.43 percent, to a three-month high of $85.02 a barrel. Ended 29/A4 https://www.mawazin.net/Details.aspx?jimare=181928
Banking Sector And Economic Renaissance
Tuesday 18 January 2022 101 Baghdad: Hussein Thaghb A financial expert stressed the importance of diagnosing the challenges facing the financial sector that truly support the process of sustainable development that the country aspires to, and there is an imperative to create a solid and effective financial sector on the ground that has the ability to provide liquidity to projects in general and is not specific to specific projects.
The financial expert, Muhammad Ali, said: The development of the labor market and the joints of the economy in all its productive and service sectors requires the existence of an advanced banking sector that has the tools to deal with the requirements of specialized international companies that need discreet banks capable of providing products up to the world commensurate with the size of the monetary mass required by the labor market Iraqi}.
And he warned of the necessity of "the actual serious work to be done to develop the Iraqi financial sector and the large apparatus, and that we have private banks that have the real capabilities to support all activities, and what is in harmony with the data of the open market economy."
Performance Integration
He said: {Despite the efforts made by the Central Bank of Iraq to create a solid financial sector and develop the banking sector, but so far it has not been at the level of ambition, as the specialized effort needs banks capable of providing liquidity to achieve integration in performance that leads to the implementation of quality projects with a positive impact. on the national economy, as well as addressing a number of problems that the country suffers from its economic side.
And he indicated that the Central Bank of Iraq always emphasizes the adoption of strategic objectives for private banks and the formulation of credit and advisory policies according to which the phase is crossed. sterile }.
Multiple Services
He had stressed the importance of having a strategy for the work of each bank that would enable it to advance and achieve its goals and the ability to provide multiple services to clients, including companies and citizens, characterized by their development and meeting the needs of the beneficiaries, as well as achieving steady growth in their revenues represented by commissions and benefits realized from their various activities, noting that the objectives The required strategy is represented in banking governance by granting full powers to authorized managers to assume responsibility and achieve success in work and provide services and products described as distinguished, by adopting a development plan to advance customer service. LINK
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