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Walkingstick: Br..... rock---- > hard place

The financial economic catastrophe is coming to Iraq as soon as we imagined

3/10/2020 6:20:40 PM Baghdad / Obelisk:

Dr.. Thaer al-Fili

The financial economic catastrophe is coming to Iraq as soon as we imagined.

And it started today: with a decrease in the Brent mix (Brent oil), which is the global measure of the price of oil, it began today at $ 32 per barrel (after what was before the spread of the Crohn’s virus at $ 62) ((The cost of our production in Iraq is now $ 12 per barrel) means our net resources decreased from ($ 50 per barrel - $ 20 per barrel.) Meaning that the annual budget resources decreased from ((80 billion dollars - to 32 billion dollars only), meaning that the annual budget deficit will rise to more than 60% ؜.

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Don961: In numbers, experts are thinking about the fiscal deficit: Iraq needs $ 70 billion .. What is the solution?

2020-03-09 Follow-up Yassin Iraq:

Iraq entered its rentier economy, on the line of the crisis between the oil giants Russia and Saudi Arabia, after the latter's insistence to flood the market with oil, contrary to the agreement of the Organization of Petroleum Exporters "OPEC".

Economists agree that the collapse of oil prices in urgent contracts, today, Monday, will place Baghdad in front of very difficult options, and perhaps resort to strategic cash reserves. LINK

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Walkingstick: Sumaisem told Obelisk: The central bank put up $ 250 million to prevent the collapse of the dinar ... and the deficit of $ 51 billion ... and then what?

3/9/2020 11:15:02 AM

Baghdad / Obelisk: Economist Salam Smaism, on Monday, 9 March 2020,

considered Iraq and Iran to be one of the biggest losers in the oil price war between Saudi Arabia and Russia, and this caused a major economic blow on them.

Sumaisem said in an interview with "Obelisk" that the central bank put 250 million dollars, Monday, March 9, 2020, for trading in order to control the currency market and prevent the collapse of the Iraqi dinar.

And Smisim continued: The budget was not deliberately approved, and the corrupt people prepared it at the price of $ 56 a barrel of oil, which is now falling to $ 33 and an approximate deficit of more than $ 51 billion!

She added: No one dares to ask: What then? The Iraq treasury will be emptied, and who is responsible?

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BlueJen: IMO Frank alluded to a Delay in the last UB2B.

Harb, the Legal Expert has extended the Deadline of Mar 2nd to Mar 8th due to Holidays. Harb also stated Allawi has met the Deadline by Presenting the Cabinet and he has a Legal Right to remain in Office. This "Throwing in of the Towel" is a weak move for someone who has stood against Corruption and also Declared on TV he would Prosecute any Minister who was Corrupt and was Paid to come Against the Cabinet. Completely un-Trump Clone-like. This is becoming very Theatrical and illogical.

Khoumeni arrives for a Mtg and no one is talking about it....Why? I expected Iran to be given Terms and the remaining Proxies to run back to Iran with their tails between their legs. Instead the Embassy deals with another Missile Attack. Potentially the Citizens are going to escalate and more than likely burn out Halbousi, maybe even Sadr and a few others.

The UN n USA are putting great pressure to Prosecute the Caretaker GOI for Human Right Violations. The GOI looks like Keystone Cops. Meanwhile the Banks continue Training, now Customer Service material.

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Article: Al-Shammari: There is no truth to present a new candidate for prime minister, and we hope that youth elements in the booth LINK

MilitiaMan: The media has been used to keep the pot stirred. Behind the scenes, is probably more refined than what is being portrayed. Some confusion, some propaganda, some truth and even blatant lies are all mixed in the pot.

This was told to us time past and many years ago would be a part of the process by Dr. Shabbibi . As 2 Cents has just reminded us these articles lately are all too familiar. The back and forth sown to the wire is culturally a norm. Going to negotiate to the last second..

The new PM designate has nothing to lose, yet, the corrupt have everything to lose.. They clearly don’t have the will of the masses in mind. They have themselves and those close more in mind and most likely have them on the dole in some shape or fashion.

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Samson: Integrity Commission restored $2bn to Iraqi Treasury

24th February, 2020
Iraq’s official anti-corruption agency stated in its latest annual report that it restored 2.84 trillion Iraqi dinars ($2.38 billion) to the Treasury in 2019.

The Federal Commission of Integrity added that it has utilised its relationships with other state watchdogs, and that it created a national strategy for fighting corruption in collaboration with the Federal Board of Supreme Audit.

According to the report, the commission examined and was involved in 26,163 notices and court cases in 2019, with 10,143 persons accused of corruption. Those included 50 officials who were government ministers or holding equivalent positions.