More Iraqi News Wednesday PM 7- 7-21
More Iraqi News Wednesday PM 7-7-21
TLM724 Administrator BondLady’s Corner
An Initiative By The Central Bank To Support Energy Production In Iraq
Economie| 10:23 - 07/07/2021 Baghdad - Mawazine News The Central Bank of Iraq launched, on Wednesday, an initiative to support energy production in Iraq.
A statement of the bank, a copy of which was received by Mawazine News, stated that "in line with international obligations towards reducing greenhouse gas emissions, the Paris Climate Agreement and reducing fuel uses, the Central Bank of Iraq has decided to work to encourage the adoption of energy production tools from renewable sources, and to work with the Supreme Committee To lend to ensure the processing of a percentage of the electric energy generated from renewable energy sources (solar panels) in the investment housing complexes benefiting from the initiative.”
The statement continued: "In addition to coordinating with the Industrial Bank to finance the purchase of electricity generation systems from the sun for citizens' homes or projects, and in order to provide part of the electrical energy required by the work of the Central Bank, it decided to acquire electrical power generation systems and install them on its buildings in Baghdad and its branches."
He stressed, "The Central Bank encourages all authorized banks and institutions wishing to equip clean energy systems to interact with this trend and present their offers and experiences to this bank and the rest of the state institutions and the private sector." https://www.mawazin.net/Details.aspx?jimare=159673
Fiscal Reform.. Rationalizing Spending And Maximizing Revenues
Wednesday 07 July 2021 132 Baghdad: Imad of the emirate The financial reform process includes a number of basic and radical steps that go in two main directions: the first, reforming expenditures through rationalization and controlling the volume of public spending, while the second aspect includes reforming revenues, maximizing their collection and inventing new means to increase them.
Finance Sector
Academic Dr. Imad Al-Ani said: {The reform of the financial sector constitutes a driving force for bringing about economic and social reform, as it is a basic and necessary requirement for building a society on sound economic foundations focusing on private economic activity and giving it the opportunity to participate in building the Iraqi society.}
He added that "financial reform needs spending technology through a team with competence and knowledge of everything related to spending, meaning that spending should be gradual until its percentage begins to decrease gradually."
He continued, "The public spending technology means the use of modern methods in the process of privatizing it, where the best use of that allocation is," explaining that "this is done by tracing the alimony path since its allocation and approval, through the stage of its implementation and its exit from the government's financial disclosure, and monitoring the effects resulting from it in all stages it goes through. Reaching the desired goal," stressing that "the financial reform is based on a re-distribution of quality."
And he indicated that {in light of the structuring of financial resources and the multiplicity and diversity of their development needs, and with the presence of defects and shortcomings in the general budget, the need to rationalize public spending and achieve efficiency and effectiveness requires the use of the technology required to raise the efficiency of expenditure and its returns, as well as activating and maximizing public revenues in a way that ensures the safety of the government's financial position} .
Financial Discipline
In her turn, a member of the Iraqi Economists Association, Dr. Ikram Abdel Aziz, indicated that {financial reform aims to improve the performance of public finances, achieve financial discipline and manage local and external government debt, and also aims to ensure integration between the state's fiscal and monetary policy}.
It cautioned that {the purpose of the financial reform measures and measures is to control the public budget deficit and the balance of payments by reducing the public debt-to-GDP ratio with tax reform measures; Therefore, the improvement in the national economy results from the implementation of financial reforms.
Sustainable Growth
Academic Dr. Amr Hisham stressed the need for the government to work to coordinate and harmonize its fiscal and monetary policies, in a way that leads to sustainable growth that is not based on an excessive expansion of public spending or a continuous increase in the ratio of public debt to GDP.
He continued: {The debt market can be a means to reform the financial sector by strengthening the financial structure, and this source provides additional financing for the government and works to achieve economic stability by supporting growth and cooperation between the public and private sectors, and thus achieves economic stability.» LINK
Baghdad Discusses Security Developments With Washington
Wednesday 07 July 2021 229 Baghdad discusses security developments with Washington
Baghdad: morning Yesterday, Tuesday, Baghdad witnessed talks with Washington on political and security developments, while London hosts chiefs of staff of Arab armies, including Iraq.
A statement issued by the Ministry of Defense stated that its Minister, Juma Inad Saadoun, received yesterday, Tuesday, the American ambassador in Baghdad, Matthew Tueller, and during the meeting, they discussed issues of common interest between the two countries.
This meeting came after the US embassy in Baghdad announced that its defense system had eliminated an air threat that targeted it with drones. Meanwhile, the United Kingdom will host in its capital, London, a meeting of the "Dragon" group between the chiefs of staff of the armies of the United Kingdom and 9 Arab countries, including Iraq. The Chief of Staff of the Army, Lieutenant-General Abdul-Amir Yarallah, met yesterday, Tuesday, with the chiefs of staff of the armies of the United Kingdom, Saudi Arabia and Jordan, and during the meeting, military relations were discussed. The Chief of Staff of the British Army, Lieutenant-General Sir Nick Carter, affirmed that his country is ready to stand by its partners in the Gulf to address common threats to regional and global security. LINK
A Meeting Headed By Al-Halbousi To Discuss Issues Related To Hosting The Minister Of Oil
Political | 02:30 - 07/07/2021 Baghdad - Mawazine News: A meeting was held on Wednesday, headed by Parliament Speaker Muhammad Al-Halbousi, to discuss issues related to hosting the Minister of Oil, Ihsan Abdul-Jabbar.
A statement by Al-Halbousi's office, a copy of which was received by Mawazine News, stated that "chaired by Parliament Speaker Muhammad Al-Halbousi, he held a meeting of the Oil, Energy and Parliamentary Integrity Committees with members of the Energy Ministerial Council."
The statement added, "The meeting comes to discuss all the issues that were raised in the session hosting the Minister of Oil and the statements requested by the presidency of the Council." Ended
https://www.mawazin.net/Details.aspx?jimare=159719
After A Sharp Decline... The Stability Of Oil Prices
Wed 07, Jul 2021 09:52 | Economic Number of readings: 301 Baghdad / NINA / - Oil prices stabilized after a sharp decline in the previous session, following the cancellation of talks between OPEC + producers, which increased the possibility that the world's major crude exporters would turn to increasing their production to obtain market shares.
Brent crude rose 3 cents to $74.56 a barrel, after falling more than 3 percent on Tuesday.
US oil also rose 7 cents to $73.44 a barrel, after falling more than 2% in the previous session.
Energy ministers from OPEC+, a group that includes the Organization of the Petroleum Exporting Countries (OPEC) along with Russia and other oil producing countries, ended their meeting.
The divisions between Saudi Arabia, the largest producer in OPEC, and the United Arab Emirates, which opposed the extension of supply restrictions, the collapse of the talks initially led to higher oil prices with US oil reaching its highest levels since 2014, but then cast a cloud over the OPEC’s production policy.”/ End 9 https://ninanews.com/Website/News/Details?key=914230
An Invitation To Invest In The Geographical Location Of Iraq
Wednesday 07 July 2021 126 Baghdad: morning The expert in economic affairs, Hadi Hindas, called for working to invest Iraq's geographical location by employing Iraq's view of the Arabian Gulf in the service of global trade.
He pointed out that {Iraq must work in this direction quickly and not slow down, as it achieves a great benefit for the country and attracts major international companies to the country}, and it is also one of the most important permanent resources, as Iraq is the closest road connecting the east of the world to the west.
Hindas pointed out that "working on the construction of the dry canal is very important and achieves great economic feasibility for the country," pointing out that "the construction of quality highways and railways linking the south to the ports of the Mediterranean are necessary for the country to enter a new phase that concerns all economies of the world."
And economists said in previous conversations with Al-Sabah that global trade from Japan, India, China, as well as Iran and other countries pass either through the Suez Canal to southern Europe or through the Cape of Good Hope, and this requires a long time, but through Iraq, the time is shortened. The distance and this drives international trade towards the country. LINK
The United Nations Launches A Program To Combat Financial Crimes In Iraq
Wednesday 07 July 2021 310 Baghdad: Hazem Muhammad Habib The United Nations Development Program in Iraq, in cooperation with the Supreme Judicial Council and the government of the United States of America, launched the international training initiative to enhance and improve investigative processes of organized and complex financial crimes, within a program whose implementation extends for several years.
The head of the Supreme Judicial Council, Judge Faiq Zeidan, said during a conference attended by "Al-Sabah": "The goal of the program is to strengthen the work of investigative judges to deal with complex financial crimes investigations and technically lead them in close cooperation with the investigation bodies represented by the Integrity Commission, the Financial Supervision Bureau and the Anti-Money Laundering Office and terrorist financing at the Central Bank, and the relevant investigation directorates in the Ministry of Interior.
For his part, the US ambassador to Iraq, Matthew Tueller, stressed, "Iraq's need for effective tools and policies to support the investigation and prosecution of financial crimes, because the motive behind the majority of these criminal crimes is personal enrichment at the expense of the Iraqi state and the people." LINK
Prime Minister Mustafa Al-Kazemi Visits The Housing Fund Bank And Directs To Facilitate Granting Loans To Citizens
Today, Wednesday, Prime Minister Mustafa Al-Kazemi paid a visit to the Housing Fund, toured the bank’s departments and reviewed the progress of work there, and met with a number of citizens and listened to the problems they suffer from.
He directed his sovereignty to bypass the routine, and to facilitate the procedures for granting loans to citizens, and providing them with service and assistance; To provide housing, and to overcome the obstacles they face.
And Mr. Al-Kazemi indicated that his visit to the bank comes as a continuation of the government’s initiative in distributing plots of land to citizens, and helping them grant soft loans to them, away from routine, whose repayment period reaches (20) years, and without being a burden on their shoulders.
His Excellency stressed that the government has adopted a national project to solve the housing crisis in the country according to strategic plans, some of which include providing housing for all citizens, whether through the distribution of plots of land, or initiatives to grant interest-free loans.
Media Office of the Prime Minister 7 - July – 2021 https://pmo.iq/press2021/7-7-202101.htm
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