"Sunday News" Posted by Samson 11-8-2020
KTFA:
Samson: Iraq's possession of gold represents 8.5% of the rest of its other currencies
8th November, 2020
The World Gold Council announced, on Sunday, that Iraq's possession of gold represents 8.5% of the rest of its other currencies
In November, the Council published a table of the world's most recent gold holdings, which Shafaq News Agency reviewed, that "Iraq has 96.3 tons of gold, which represents 8.5% of the rest of its other hard currencies," indicating that "this percentage decreased compared to other currencies for the previous month, which was 8.8%
She added that "the last purchase of gold for Iraq was in 2018, which amounted to 6,450 tons," noting that "Iraq still maintains the fifth place in the Arab world and the 38th globally among the 100 countries listed in the table
The council noted that "the amount of gold holdings of countries amounted to 35.106 thousand tons. America is at the forefront of these countries with the most precious metal in the world, with an amount of 8,133 tons, followed by Germany, with an amount of 3,362 tons, and Italy comes third with 2,451 tons
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world LINK
Samson: The Central Bank adopts more advanced steps in the anti-money laundering systems of exchange companies
8th November, 2020
Based on the supervisory role of the Central Bank of Iraq, this bank decided to adopt more sophisticated steps commensurate with the nature of services provided by exchange companies incorporated under category (A) operating in Iraq, in the current and future anti-money laundering and terrorist financing systems.
This bank calls upon the merged exchange companies under category (A) to work on adapting their logistical and technical conditions within a period not exceeding 12/31/2020 in accordance with the new instructions.
Central Bank of Iraq
information Office
08/11/2020 LINK
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Samson: We will not work for free" .. Angry demonstrations are sweeping Iraq against delayed salaries
8th November, 2020
Hundreds of state employees demonstrated in several Iraqi governorates today, Sunday, to protest the delayed payment of their salaries for the past month of October, with the expiration of a week in November.
In the capital, Baghdad, dozens of employees demonstrated in front of the Finance Ministry building located in Bab Al-Moazam district in central Baghdad to protest the delayed payment of salaries for the month of October. Shafaq News correspondent said, that a number of demonstrators organized, this morning, a protest stand in front of the Ministry of Finance, demanding that it pay their back salaries, indicating that the demonstrators confirmed that the justifications offered by the ministry for the delay of salaries are not convincing and they are not entitled to delay their payment.
Our correspondent explained that the demonstrators threatened to continue the escalation and strike in the event of failure to exchange, indicating that the demonstrations included employees from various Iraqi ministries. In Al-Muthanna governorate, the Shafaq News Agency correspondent reported that dozens of health personnel in Al-Muthanna announced a partial strike due to the delay in paying salaries.
Our correspondent added that dozens of medical staff in Al-Muthanna organized a partial strike in the governorate's hospitals, in protest against the delay in paying salaries, indicating that the strike came against the background of a public call, to strike, and there are escalatory measures in the event that salaries are not paid. Babylon also witnessed demonstrations by a number of employees who went out and held a sit-in in front of their institutions in the governorate, refusing to "work without salaries."
Shafaq News correspondent said, that dozens of employees of Babil departments have declared a strike permanently due to the delay of their salaries, strongly rejecting any delay in paying salaries because it is one of the simplest legitimate rights for them, and they called on all honorable Iraqis to stand against the injustice in Iraq. He added that the demonstrators threatened an escalation in the coming days if the government continued its approach by delaying salaries and not distributing them quickly during the next two days.
In Maysan, dozens of health workers' employees took to the streets to protest the delay in salary distribution, as our correspondent indicated that the health workers in the governorate announced a protest stand in front of the health directorate in the governorate to protest the delay in salary payments. He added that the demonstrators considered that the government had neglected its duties towards health personnel in particular and employees in general, and what they do daily to fight Corona disease and expose them to a fatal risk because of that, considering that providing salaries is the simplest right that the state offers for this segment. He stressed that the demonstrators will continue their protest if the state does not implement their demands quickly, indicating that these protests will turn into sit-ins if this happens again.
The Al-Kazemi government is facing increasing criticism for its inability to secure sufficient liquidity to pay the salaries of state employees, which could expose it to tremendous pressure in the coming months . The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices due to the Corona pandemic, which has crippled large sectors of the world economy. LINK
Samson: Parliamentary Finance reveals the details of her meeting with Allawi on Monday
8th November, 2020
The Parliamentary Finance Committee revealed the details of the meeting scheduled for tomorrow, Monday, with Finance Minister Ali Abdul Amir Allawi.
Committee member Shirwan Mirza said, in a press statement, that the committee will hold a meeting tomorrow, Monday, with the Minister of Finance to determine the amount that the government will borrow . “It is likely that the agreement is to borrow an amount of {12-15} trillion dinars on a monthly basis.” LINK
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Samson: Economist: The government has money to launch last month's salaries
8th November, 2020
The economist, Dr. Safwan Qusai, confirmed that the first borrowing law covers the salaries of employees until the end of this year
Qusay said that the salaries of last October, the government is ready to pay, because the cash is at the Ministry of Finance
He added that the current confusion caused the reduction of spending by citizens, which led to a decline in the contraction in the private sector, noting that monetary policy is working to avoid Iraq, the region of deflation, and to pump money through loans LINK
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Samson: A parliamentary committee submits 10 proposals to maximize revenues ... What are they?
8th November, 2020
A member of the Parliamentary Economic Committee, Mazen Al-Faily, presented 10 proposals to maximize revenues, while indicating the need to reduce borrowing amounts and go to maximize revenues and combat waste and corruption.
Al-Faily said, in a press conference: "We affirm the need to reduce the amounts required in the Deficit Financing Law to reduce borrowing to the lowest possible level, in order to guarantee the necessary allocations of salaries, retirement, ration card and a social welfare network, which does not exceed seven trillion for the remaining three months of the year 2020 in the highest reports."
Al-Faili added: "It is important that the government's measures are directed towards maximizing non-oil revenues and combating waste and corruption in many areas that are important in providing revenue, including:
. Monitoring the currency auction, which drains hundreds of millions of dollars every week as profits for parasitic banks that do not provide service to the economy and its development and do not contribute to providing job opportunities or productive projects for the national economy. Rather, most currency auction transactions go to a limited group of influential people and their partners. The duty is to prevent the rise in the exchange rates of the dollar, because the large price difference between selling the central bank and selling in the market goes into the pockets of opportunists.
. Completing the procedures for collecting customs and tax by electronic means to ensure effective control that closes all outlets for corruption and manipulation of these large financial resources. And the inclusion of all ports by handing over their revenues to the federal authority.
. The collection of financial dues, taxes, debts and fines related to the owed by mobile phone companies, which are not less than three trillion in the lowest reports.
. Activating the measures to protect the national agricultural product, which is sufficient to meet the local need in many of its articles if these measures are tightened and prevent the loss of hard currency in import.
. Unifying the salary scale according to a unified, fair standard that eliminates the outrageous and provocative privileges and differences for the Iraqi people.
. Avoiding the huge expenses that are spent on importing and purchasing energy from abroad and from the local investor by allocating amounts equal to the value of what is paid annually for import and purchase. It is monitored for the purchase of equipment and maintenance of national stations and their transfer to work from the simple cycle to the combined cycle, as it saves more energy than imported and purchased, knowing that paying That money is only one time.
. Collecting revenues from oil sold domestically for refining petroleum products and derivatives and registering them as general state revenue, which is not less than a trillion dinars per month at low oil price levels.
. Reviewing the licensing rounds that cost Iraq nearly a third of its oil revenues, according to current international oil prices
. Reducing the proportion of Iraq's commitment in the relevant OPEC agreement that prevents us from exporting one million barrels per day, whose revenues are estimated at more than (1.4) trillion dinars per month.
. Presenting the final accounts for previous years because of their importance in uncovering the fate of the funds spent and clearly identifying the resources of corruption and waste, which is an important entry point for combating corruption and recovering public funds." LINK
Samson: Under Egyptian supervision .. A move to establish the Iraqi-Jordanian economic zone
8th November, 2020
Anbar Investment Commission, is heading towards establishing the Iraqi-Jordanian economic zone under Egyptian supervision.
The head of the commission, Mahdi Saleh Al-Numan, said, "This area, whose area is estimated at 10,000 dunams, will be half of it on the Jordanian side, and the other on the Iraqi side," noting that “Prime Minister Mustafa Al-Kazemi, in his visit to Jordan two months ago, stressed the need to establish this area and complete its requirements." Al-Noman considered this area to be one of the most promising areas, pointing out that "a law for this region was prepared, and its board chairman was chosen after the formation of the board of directors."
For his part, the economist Abdul Rahman Al-Mashhadani stressed the importance of these areas for the countries in which they are established, and said that "the advantage of these areas, especially if they are joint, is to establish various industrial facilities, to be one of the most important trade exchange areas to exempt their products from taxes and customs duties, and to stimulate Investors and businessmen to establish various industrial projects."
Economic cities are one of the pillars of modern countries, but when planning them, they must provide services, infrastructure and superstructure such as water, electricity, road networks, and good and safe transportation. LINK