News, Rumors and Opinions Monday Afternoon 2-8-2021
TNT:
Tishwash: The World Bank: The conditions the Iraqi economy is going through are the worst since 2003
The Resident Representative of the World Bank in Iraq, Ramzi Numan, confirmed that the bank supports the Iraqi government in several directions to get out of the current economic crisis.
Numan called for comprehensive reform in the Iraqi banking sector, while stressing that the Iraqi society is a youth society that can rise in the country if its energies are properly and seriously invested.
Numan pointed out that these conditions that the unilateral Iraqi economy is going through, which depends on oil, is the worst since the year two thousand and three, indicating that this left great burdens that were reflected in the ability of the Iraqi government to deal with emergency needs. link
Tishwash: Al-Saffar: The reserves of the Central Bank will not be touched, and there is a tendency to cancel the currency auction
The Finance Committee in the House of Representatives announced that the reserves of the Central Bank of Iraq will not be affected in the general budget for the year 2000.
Committee reporter Ahmed Al-Saffar revealed that there is a tendency to cancel the currency auction, saying that this auction does not exist in any country in the world except Iraq, adding that the auction works in an incorrect mechanism, by granting loans to banks instead of giving them to actual importers, students, professors, and patients who travel abroad Country.
Regarding the Central Bank's reserves, Al-Saffar said that they will not be affected at all in this budget, after reducing borrowing and canceling foreign loans. link
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KTFA:
Samson: Transparency International: Successive governments in Iraq have wasted 300 billion dollars
09:55 - 08/02/2021
According to a report by Transparency International, successive governments in Iraq since the 2003 invasion and up to now have wasted 300 billion dollars, burdening the state with loans to deal with self-financing problems as a result of corruption and mismanagement.
The report, which was translated by the Al-Maaloumah agency, stated that “Iraq is still at the forefront of the world's most corrupt countries, and there are many factors that should have pulled it to the bottom of this list, including the deteriorating economic situation and the worsening financial deficit, while unofficial estimates indicate that the money embezzled and wasted at the border crossings alone amounts to about $ 100 billion since the US invasion of the country.
He added, “It is not surprising that the Iraqis are at a loss because no concrete steps have been taken to extricate the country from the category of the most corrupt countries. Iraq is under the weight of a huge fiscal deficit and foreign debts worth tens of billions of dollars, while the Coronavirus pandemic has seriously exacerbated the fiscal deficit. The deficit is estimated at more than 40 billion dollars, while the external debt is about 23 billion dollars, with the exception of 40.9 billion dollars before 2003. "
He added that “Iraq is ranked 160 out of 180 countries, which means that it is among the most corrupt countries in the world, led by South Sudan and Somalia. Although Iraq has made progress in its annual classification, this does not seem sufficient because the situation is very dangerous, especially when looking at the impact of the Coronavirus pandemic on the country.
And he continued, “Despite the small gains made by civil society in the past decade towards building stronger and more sustainable laws to combat corruption and enhance transparency, the Corona crisis and the resulting emergency measures basically led to the elimination of these efforts, which set the country back years.”
The report stated that “political corruption also remains a challenge across the region. In Iraq, for example, corruption entrenched in the system deprives people of their basic rights, including access to safe drinking water, health care, electricity, jobs and adequate infrastructure. LIN
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Samson: In Iraq ... one representative costs the state treasury 40 million dinars a month
8th February, 2021
The leader of Al-Fateh Alliance, Ghazanfar Al-Battikh revealed, on Monday, that the deputy in the Iraqi parliament costs the state 40 million dinars per month.
Al-Battikh said, to Shafaq News Agency, that this cost is for one member in the Iraqi parliament, and it also includes his protection team, and although some deputies do not attend the sessions, rather there are deputies who did not attend any session, and even the people do not know them, and they do not even exist in the media arena.
He indicated that "the number of representatives is 329, and the Iraqi people do not know them except for 30. The defect in this is due to the Presidency of Parliament, which does not take any firm and strict measures in accordance with the internal system of the House of Representatives." LINK
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Samson: Masrour Barzani: We are determined to fight corruption and end the waste of public money
8th February, 2021
The Prime Minister of Kurdistan Regional Government, Masrour Barzani stressed, on Monday, that he is determined to combat corruption and put an end to the waste of public money, while noting that the reform law aims to establish justice and protect the rights of the beneficiaries.
The Presidency of the Kurdistan government said, in a statement received by Shafaq News Agency, that the President of the Kurdistan Regional Government, Masrour Barzani, supervised, today, a meeting of the Supreme Committee to implement the reform law in the region, indicating that the meeting discussed steps to implement the reform law regarding salaries, allowances, benefits and retirement In the institutions and ministries of the regional government.
The Prime Minister indicated that the implementation of the reform law aims to establish justice and protect the rights of the beneficiaries within the framework of a continuous process that includes various sectors. He said, "The regional government is determined to combat corruption and put an end to the waste of public money, and is insisting on administrative and financial reform."
According to the statement, the Secretary of the Supreme Committee for the Implementation of the Reform Law, Abd al-Hakim Khusraw, presented the first steps to implement the law, after which the concerned ministers, according to their specializations, submitted detailed reports supported by the numbers, information and data needed regarding developments in the implementation of the reform law.
The ministers' reports included a number of issues, especially salaries, benefits, retirement, reorganization of the Peshmerga forces, and ways to reduce red tape in government departments, according to the statement that indicated that after discussions and exchanges of views, it was decided to adopt a number of recommendations during the cabinet meeting with the aim of completing the steps for implementing the reform law. LINK
Fleming RV Related Monday Update
Our military intel contact said that the military has all authority now over SEC and all financial matters and that threat of SEC confiscating bonds has been removed by the 900 active military personnel working on getting out the RV shotgun start; he said there was another release at 2 pm EST after the morning RV team meeting today Mon 8 Feb to continue the release sequence this week; he said stay ready for our lower levels starting, at the rate they are moving things, auditing & checking, later this week or mid-month.
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Courtesy of Dinar Guru
Jeff The World Bank and the IMF they started showing a large presence with Iraq around December. Why December? They're working with Iraq to bring forth the rate change. It's that simple. They're using the last quart of Iraq's 2020 fiscal year which is January through March to set the stage for the rate change. That's why they devalued the currency on December 20th...that was nothing more than a 90-day tool to reduce the note count physically within the country of Iraq.
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RED HOT IRAQ NEWS
Dinar Investor: Feb 8, 2021