"Tidbits From TNT" Friday Morning 12-9-2022

Dec 9

TNT:

Tishwash: International Monetary expects the Central Bank of Iraq reserves to rise to 100 billion dollars

The International Monetary Fund expected the Central Bank of Iraq's foreign exchange reserves to rise to 100 billion US dollars in 2024.

In the final statement of the Article IV consultation mission for the year 2022, the fund experts said, "Iraq's economic prospects are positive in the short term, but weaknesses can clearly manifest themselves in the medium term, and we expect Iraqi oil production to gradually rise from (4.4) million barrels." to 5 million barrels per day by 2027.

The statement added, "The growth of real non-oil GDP is expected to accelerate, reaching 4 percent in 2023, thanks to the stimulus that arose from the Emergency Support for Food Security and Development Act, before that rate moderated to reach 3.5 percent on average." medium term

And the statement continued, “Within the framework of baseline expectations of a decline in global oil prices, and the continuation of the expansionary stance of public financial policy, the balance of public finances and the balance of external balance are expected to decline, and turn into cases of disability By 2025, besides, foreign currency reserves of the central bank could peak at about $100 billion in 2024, and then decline rapidly in the medium term.

A few days ago, it was announced Central Bank of Iraq For the first time, the cash reserve exceeded the $90 billion mark. link

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Tishwash: A new study to help strengthen the private sector in Iraq

The Ministry of Planning in the Kurdistan Regional Government of Iraq, in partnership with the United Nations Development Program, and funded by the United States Agency for International Development (USAID), today launched a study on micro, small and medium enterprises in Iraq.

The study provides an evidence base to guide policies and strategies aimed at creating sustainable livelihoods, including through MSME development.

Funded by the United States Agency for International Development, the mixed survey covered formal and informal micro, small and medium enterprises in the governorates of the Kurdistan Region. The survey was initially conducted in Baghdad, Basra and Nineveh governorates. It has been designed to build a comprehensive analysis on MSME structures, trends, business dynamics, challenges and opportunities through up-to-date, reliable and relevant market information and analysis.

Some of the main findings of the survey in the Kurdistan Region of Iraq highlight the low participation of women in ownership of MSMEs by (13%); Funding issues and weak network structures and business clusters of these institutions.

The Resident Representative of the United Nations Development Program in Iraq, Oki Lootsma, said, “Micro, small and medium enterprises in Iraq are facing great challenges. As we continue to grapple with the socio-economic impacts of COVID-19 in Iraq, this study once again highlights the importance of the private sector in Iraq to create economic diversification and much-needed sustainable employment opportunities, especially for vulnerable groups.

He added that this crucial work would not have been possible without our strong partnership with the Ministry of Planning, and the generous support of our partner, USAID.

The Minister of Planning in the Kurdistan Regional Government, Dr. Dara Rashid, confirmed his support for the initiative.

He appreciated the important support provided by the United Nations Development Program in Iraq and the United States Agency for International Development, in the timely design and implementation of this study, and the continued support for the development of an action plan to implement its recommendations. The Kurdistan Region Council of Ministers, through its nine ministries, emphasized strengthening the private sector and diversifying the economy of the Kurdistan Region, indicating the important role of such a study to support the economic sector.

US Consul General in Erbil, Arvin Hicks, added, “MSMEs are an essential part of any recovering economy, and provide untapped opportunities for youth, women, and vulnerable populations to actively participate in the country's economic growth and long-term stability. We are proud of our partnership with our counterparts in the Kurdistan Regional Government and the private sector to activate critical initiatives and reform projects that enable the growth of micro, small and medium enterprises and raise their role in the Iraqi econom

And Sirwan Muhammad, Director of the Kurdistan Region Statistics Authority, said about this survey, “This small, small and medium enterprises survey study will be used as a starting point to understand the characteristics of private sector enterprises and the supportive policies of the relevant and important ministries in the economic sector.”

This survey is part of the UNDP Iraq Economic Reform Support Project, which was designed by UNDP to promote sustainable, poverty-focused economic reform in the country, with the generous support of the American people through USAID link

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Tishwash: Representatives are calling for the replacement of the governor of the Central Bank: he is not qualified for the position

- We did not verify the validity of the summons against me, which was spread on social media
- The lists of candidates for special degrees were published before we entered the parliament hall
- We boycotted the voting session on the special degrees and the quorum was broken for not voting on them
- Independent representatives did not attend the session to elect the presidents of the republic and the ministers and to vote on the government

- The prime minister must change the governor of the central bank and he is not qualified for the position
- the largest corruption operations are in the central bank and we have lawsuits in this regard
- the money that the government recovered from the sums of the theft of the century was in the Al-Wad Bank of Nour Zuhair
- previous governments could limit corruption to the ministries from During the implementation of the automation system
- there are large irregularities in customs through illegal exemptions
- There are large quantities of medicines unfit for human consumption entering the country through the region's outlets
- Former Oil Minister Ihsan Abdul-Jabbar, who is accused of corruption, is the one who revealed the theft of the century
- Ihsan Abdul-Jabbar was planning to steal tax secretariats, and he found that "thieves" stole them before him
- Customs exemptions were granted For the entry of large quantities of goods under the pretext of equipping Rabia Hospital
- the Public Prosecution Service and the judiciary deal objectively with the corruption files that we are raising
- there are thefts worth 200 billion per month in the Ministry of Commerce through the food basket

Member of the Fatah Alliance, Salam Hussein, during a televised interview:

– Al-Sudani’s visit represents a message that Iraq’s will is still standing
– Iraq seeks to build balanced relations with its Arab and Islamic surroundings, contrary to what the previous government established
– There is a project to cut the Silk Road to Iraq supported by America, but Iraq will join this path
– The enemies of the Iraqi people from inside and outside will fail Their plots to turn Iraq into a market for American goods
- China is a great economic giant and no country can ignore it, and we must strive to contract with China
- the same parties that established the project to plunder the country's wealth seek to prevent Iraq from joining the Chinese project

The leader of the Patriotic Union of Kurdistan, Ahmed Al-Harki, during a televised interview:

– The relationship between the two parties went through many stages, but the current crisis is deep
– no party can practice the logic of exclusion and marginalization because it is not applicable
– the differences are not related to government representation only, but rather extend to internal files, including the electoral system in the region
– Qubad Talabani was absent from the meetings of the regional government More than once, and this is not a good
sign - we seek real dialogue to solve problems, not traditional dialogue

Sarwa Abdel Wahed, head of the New Generation bloc, during a televised interview:

The draft law on freedom of expression is titled incorrectly
. There should be a law to organize demonstrations, but not the current
one. The draft law on freedom of expression must be rewritten
. The current parties do not have a real democratic vision.

Member of the Human Rights Committee in the former parliament, Qusay Abbas, during a televised interview:

- Absolute freedom generates a kind of chaos
- There is no law that confronts sectarian incitement and calls for perversion
- We made amendments to the law on freedom of expression in the previous parliamentary session
- Parties must abide by the law before others
- Iraq is in an exceptional situation and there is no respect for state institutions
- Legislating the law on freedom of expression An urgent necessity, and otherwise there will be chaos
- there is social dissolution because of absolute freedom
- one of the reasons for the increase in divorce cases is absolute freedom link

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