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Samson: GFP: Iraq's reserve of hard currency amounts to $48bn

2nd August, 2020
Iraq's hard currency reserves reached 48 billion US dollars, according to the Global GFP Ranking Corporation, which indicated that China ranked first with the world's highest reserves.

The institution said, according to its latest classification, "Iraq's reserves of hard currency, including foreign exchange and gold, amounted to 48 billion and 880 million dollars", adding, "Iraq ranked 40th with the most reserves among the 138 statistically listed countries".

"Iraq ranked sixth in the Arab world after Saudi Arabia (496 billion and 400 million dollars), Algeria (97 billion and 890 million dollars), the United Arab Emirates (95 billion and 370 million dollars), followed by Libya (74 billion and 710 million dollars) and Lebanon (55 billion and 420 million dollars), the corporation added.

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Bravo13: just listened to (Wed Night) Franks update that was after the Wil's call, sounds like huge amounts of IQD moving into the USA as well as other countries. I thought Frank said this was for some payment? Confused here, guess I just dont understand the significance or the purpose. Perhaps once this goes international this money can be used to support the redemption of our funds, ie IQD. Not sure, would appreciate if someone has a good explanation of this. ??? Thanks in advance

DeepWoodz: I am a simpleton when it comes to economics but I have a thought. I read something a while back about countries having reserves of foreign currencies in their respective treasuries. Especially of the American dollar I guess because of the solid value. I assume to back up other countries currencies as if it were gold……maybe this is respective of the value the iqd will have when it sets off. Which could mean a very good solid international value. Frank kept saying it represents the value and not the quantity. Imo

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Samson: The Cabinet Secretariat announces the suspension of official working hours next week

28th July, 2020

The General Secretariat of the Council of Ministers announced the suspension of official working hours in government institutions during the coming week on the occasion of Eid Al-Adha, in conjunction with the rise in temperatures in countries that exceeded the fifty-degree Celsius mark.

The Secretariat of the Council of Ministers said in a statement that "the permanence of the suspension will be in line with the vacation approved by the Supreme Committee for Health and National Safety {Combating the Corona Virus Pandemic], which starts from next Thursday, July 30 and until August 8, 2020."

The Supreme Committee for Health and National Safety decided to impose a comprehensive curfew on the days of Eid Al-Adha, provided that the ban would be reviewed after the Eid holiday, while obliging citizens to follow all preventive measures

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Samson: Parliamentary Integrity: Half of the political class will be extinct by applying the penal code

19:07 - 07/25/2020

Parliamentary Integrity Committee confirmed, on Saturday, that more than half of the political class in Iraq will disappear if the Iraqi Penal Code is applied and deactivated bills are done in the Council.

Member of the Integrity Committee, MP Jawad Hamdan, told / "Information" that "there are bills that were blocked by the political blocs in the parliament regarding amendments to the penal laws that do not serve their interests."

He added that "the next stage requires the application of the penal code, the adoption of discontinued amendments in the House of Representatives, and the work of the judiciary away from political interference."

He explained that "by ensuring the implementation of the Iraqi Penal Code, more than half of the current political class who have indicators of corruption and accused of stealing public money and protecting the corrupt will disappear."

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Samson: The Iraqi government may suspend official hours this week with a comprehensive ban

25th July, 2020

The crisis cell in the Iraqi parliament revealed today, Saturday, a government proposal to disrupt official working hours, this week.

"The Iraqi government is currently studying the issuance of a decision to completely disable the official working hours this week, because of the high temperatures at record rates, all over the country, with large interruptions of electricity," said cell member, MP Abbas Aliwi, to Shafaq News.

And Aliwi said, "The other reason for this proposal is to control the non-rise of infections with the Corona virus, especially with the approaching Eid al-Adha, and people roam a lot in the markets." The decision will be officially issued, and perhaps this will happen during the coming hours, as this is expected.