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DELTA: IMF Executive Board Concludes 2020 Article IV Consultation with Iraq

February 11, 2021

Washington, DC: On February 8, 2021 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Iraq.

The COVID-19 pandemic and a sharp decline in oil revenues have exacerbated Iraq’s longstanding economic vulnerabilities. Real GDP contracted by an estimated 11 percent in 2020, reflecting a slowdown in non-oil activity and cutbacks in oil output as a result of OPEC+ decisions. Large fiscal and external current account deficits of 20 and 16 percent of GDP, respectively, constrained the government’s ability to mount an effective fiscal response to the crisis.

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Samson: An economist warns of the continued exit of hard currency to other countries

08:34 - 11/02/2021

The economic expert, Ihssan Al-Kinani, warned that the continued exit of hard foreign currency from inside Iraq to the outside will have negative effects on the Iraqi economy, pointing out that any decrease in oil prices will have disastrous consequences for the loss of the currency.

Al-Kinani said to / the information /, that "the exit of foreign currency from Iraq has not noticed its negative effects at the present time due to high oil prices and the large amount of dollars entering the country."

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Samson: The Iraqi budget is on the table of the prime ministers and the republic

8th February, 2021

The Iraqi Prime Minister, Mustafa Al-Kazimi, discussed today, Monday, with the President of the Republic, Barham Salih, efforts to approve the state budget for the current year 2021.

Al-Kazemi's media office said, in a statement received by Shafaq News Agency, that the latter received, this evening, the President of the Republic, Barham Salih, indicating that during the meeting they discussed the latest political developments and general conditions in the country, as well as the efforts made to approve the General Federal Budget Law for the year 2000 2021.

He explained that the meeting discussed preparations for the conduct of the election process and preparations for it and providing all the requirements for its success, in a way that ensures that its results are the true expression of the will of the Iraqi people and their choices.

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Samson: Digital enrollment service launched

7th February, 2021

The Central Bank of Iraq announces the launch of the digital enrollment service, which is the first of its kind in Iraq and the region.

Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in financial dealings within banks operating in Iraq.

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Don961: A map that creates an economic coup in Iraq and turns it from a station for selling oil to a production revolution, with the contribution of 4 continents around the world

2021-02-05 Yes Iraq: Baghdad

The economist Ahmed Al-Salami mentioned a “map” and described it as making an economic difference in Iraq, as a first stage and within a short, medium and long-term time that makes our country make a quantum leap from a fuel station to selling oil, unemployment, underdevelopment, corruption, poverty, stagnation, immigration and violence to a comprehensive productive economic revolution.

He stated that “my wish is for the prime minister to undertake an economic trip around the world for direct contracting without any intermediary and direct and personal supervision with advisors in an economic contract revolutionwith an elite of international companies' giants in exchange for a pledge to provide protection for rights and the security of the regions of Iraq.

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Samson: Economic: Parliament cannot change oil prices and the dollar in the 2021 budget

16:05 - 06/02/2021

An economist, Bassem Antoine, confirmed, on Saturday, that the 2021 budget is moving towards a vote, and Parliament cannot amend the exchange rates of the dollar or sell oil.

Antoine said in a statement to the "information" agency, "It is not within the powers of the House of Representatives to change and amend exchange rates and oil prices, whether the prices are high or low, as these are the exclusive powers of the government."

He added, "After the central bank approved the new exchange rates in agreement with the government, the budget numbers are not subject to amendment and cannot be challenged by Parliament."

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Samson: Deputy: He went to reduce this year's budget to 100 trillion

4th February, 2021

Bader Al-Ziyadi, the deputy of the Saeron Alliance, revealed on Thursday that there is a tendency to reduce the 2021 budget to 100 trillion.

According to the official agency, Ziyadi said, "There is a tendency to reduce the general budget for 2021 to 100 trillion, after it was reduced to 127 trillion by the Finance Committee after it was sent by the government to the size of 164 trillion."

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Samson: The Association of Private Banks holds a workshop on digital transformation in Iraq

4th February, 2021

The Iraqi Private Banks Association, in cooperation with the Central Bank of Iraq, today, Thursday, held a workshop entitled (Qualification Program for Digital Transformation Leaders in Iraq), in the Kirkuk University building

The course included providing a detailed explanation on the Coursera global platform and the support provided by the Central Bank of Iraq to provide free scholarships to outstanding university students to develop their skills

The workshop witnessed a detailed explanation of the Central Bank’s initiative to support small and medium enterprises through the One Trillion Initiative, as well as community initiatives supported by the Tamkeen Fund financed by private banks