Deb Aspinwall 12/13/22 Deb Aspinwall 12/13/22

"Tidbits From TNT" Tuesday Morning 12-13-2022

TNT:

Tishwash: Al-Sudani: The government is determined to implement its program that includes economic reform

Prime Minister Muhammad Shia Al-Sudani affirmed, on Tuesday, the government's determination to implement its program and strengthen the environment that attracts investments.

The media office of Al-Sudani said, in a statement received by Mawazine News, that "Prime Minister Muhammad Shia' Al-Sudani received today the delegation of the International Finance Corporation / IFC, headed by the Regional Director for the Middle East in the institution, Aftab Ahmed," noting that "during the meeting, they discussed aspects of Various financial and economic cooperation between Iraq and the International Finance Corporation.

TNT:

Tishwash: Al-Sudani: The government is determined to implement its program that includes economic reform

During the meeting, Al-Sudani affirmed, "Iraq's openness to everything that would advance the development wheel, and strengthen regional partnership with countries and organizations, for the benefit of the Iraqi people and friendly peoples," noting that "the government is determined to implement its program that includes economic reform, and encourage the private sector from In order for it to play its full positive role, in addition to strengthening the attractive environment for investments in Iraq.

For its part, the Foundation's delegation expressed "the Foundation's desire to partner with Iraq, and to complete cooperation in development programs, in a way that enhances the infrastructure and long-term development of the Iraqi economy." link

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Tishwash: Economic expectations for oil prices to rise to $100 in 2023

Bank of America stated in a recent research note that Brent crude may reach an average of $100 a barrel next year, compared to its current levels near $76.

The bank justified its expectations of a recovery in Chinese demand for oil with the reopening of the economy, and a decline in Russian supplies of crude by about one million barrels per day due to European sanctions.

He referred to the decision of the “OPEC +” coalition to reduce oil production by two million barrels per day, which may provide support for crude prices.

However, Bank of America indicated that demand and price expectations depend largely on the recovery of demand growth from China and India, explaining that any delay in reopening Asian economies may affect price expectations significantly.

ING bank economists predicted that the price of Brent crude would jump to nearly $104 a barrel, on average, by next year.

Experts concluded that the supply of Russian oil will witness a massive decrease early next year, estimated at 1.8 million barrels per day on an annual basis. link

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Tishwash: The President of the Republic: Iraq is currently stable in terms of politics, security and economy

The President of the Republic, Abd al-Latif Jamal Rashid, stressed today, Tuesday, the need to reduce red tape and develop the banking system in Iraq.

The Presidency of the Republic said, in a statement received by Earth News, that “President Abdul Latif Jamal Rashid received, today, at the Baghdad Palace, the delegation of the International Finance Corporation for the Middle East, Pakistan and Afghanistan, headed by the Regional Director of the Corporation, Mr. Aftab Ahmed,” noting that “during the meeting, Discuss ways to encourage investment and service projects in Iraq by supporting the private sector to be a catalyst for the government sector in developing the economic reality in the country.

The President of the Republic affirmed that "the various cities of Iraq have previously suffered as a result of neglect, terrorist acts and the deterioration of the economic situation," explaining that "Iraq is currently stable in political, security and economic terms, and has natural and human resources that qualify it to build an advanced and prosperous country," pointing to "the importance of exploiting abundance." The finances that the country currently possesses are used to establish service projects that meet the aspirations of Iraqis and support the economy.

And the President of the Republic explained to the guest delegation, “the importance of direct work and achievement, and not just holding meetings,” stressing “the need for the concerned state institutions to reduce the routine in completing transactions, taking into account the controls and laws to save time and ensure the completion of work.”

The President stressed "the need for the financial and banking system in Iraq to develop to become more rapid, accurate and secure."

Speaking about ways to support the economy, the President of the Republic indicated “the importance of diversifying sources of income,” noting that “Iraq has a large number of factories that have been suspended since 2003, which must be rehabilitated, put back into operation, and made a source of support for the state budget and the provision of job opportunities.”

He continued, "The agricultural sector in Iraq suffers from neglect, and plans can be drawn up to support this sector through the adoption of modern methods of agriculture and irrigation."

For his part, the Regional Director of the International Finance Corporation affirmed, "his institution's readiness to fully cooperate with Iraq in supporting its economy, as it is one of the countries that have priority because of its capabilities and resources that help in the completion of investment projects that will contribute to the country's progress link

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Monday Evening Iraq Economic News Highlights 12-12-22

Electricity Clarifies The Fate Of The Electronic Taxation Project

Energy Economy News _ Baghdad Today, Sunday, the Ministry of Electricity clarified the fate of the electronic taxation project, while indicating efforts to contract with investment companies in this regard.

The ministry's spokesman, Ahmed Musa, said, in an interview with the Iraqi News Agency, followed by "Al-Iqtisad News", that "the electronic taxation project has been studied, its economic feasibility has been established, and it has been technically reviewed since the time of the previous government," noting that "the study included reviewing the experience of neighboring countries and electronic meters." used".

Monday Evening Iraq Economic News Highlights 12-12-22

Electricity Clarifies The Fate Of The Electronic Taxation Project

He added, "The project was supposed to be voted on by the previous government, but it was referred to the current cabinet."

He pointed out that "the cabinet instructed the Ministry of Electricity to contract with investment companies specialized in smart networks," stressing that "the ministry is conducting extensive meetings and studies on specialized companies in accordance with the decision of the prime minister."

Views 37 Added 12/11/2022 - 1:09 PM Updated 12/11/2022 - 2:15 PM

https://economy-news.net/content.php?id=31270

The Ministry Of Electricity Clarifies The Fate Of The Electronic Taxation Project

Iraq 14:44 - 2022-12-11 Electricity clarifies the fate of the electronic taxation project Today, Sunday, the Ministry of Electricity clarified the fate of the electronic taxation project, while indicating efforts to contract with investment companies in this regard.

Ministry spokesman Ahmed Musa said, in a press statement, that "the electronic taxation project has been studied, its economic feasibility has been established, and it has been reviewed technically since the time of the previous government," noting that "the study included reviewing the experience of neighboring countries and the electronic meters used."

He added, "The project was supposed to be voted on by the previous government, but it was referred to the current cabinet."

https://kirkuktv.net/AR/Details/11427

Integrity: Jordan, Turkey And Lebanon Are The Most Prominent Outlets For Smuggling Corruption Funds

Political | 10:13 - 12/12/2022 Baghdad - Mawazine News The Integrity Commission said, on Monday, that Jordan, Turkey and Lebanon represent the most prominent countries to which funds from corruption cases in Iraq are smuggled, and announced that it is continuing its procedures to recover these funds despite the existence of some legal obstacles.

The director of the media center in the commission, Ali Muhammad, said in an interview with the official newspaper, which was followed by Mawazine News, that "the most prominent countries to which funds obtained from corruption were smuggled are the Kingdom of Jordan, Turkey, Lebanon, and a number of other regional countries," noting that "the commission's procedures are continuing." to recover that money.

He added, "The commission reached, in the last meeting held with the judicial authorities in Jordan last April, to seize the funds in its territory, while there are some challenges related to the different legal systems that face the commission's work in recovering funds from Turkey, so the recovery department approached the counterparts." to sign a memorandum of understanding between the two parties, but it did not specify time periods for recovering those funds due to the complexity of the procedures.

Muhammad confirmed, "The movable and immovable funds of some of the accused or the fugitive convicts have recently been seized," noting that "the commission is awaiting the completion of the legal department in the Ministry of Justice with procedures related to filing lawsuits abroad, and giving judicial decisions the force of implementation, so that we can then recover the money." reserved".

And he continued, "The authorities concerned with recovering funds are represented in the Commission's Recovery Department and the Iraq Fund for Recovery, as the first operates in accordance with Article (10/ Seventh) of the amended Commission's Law,

according to which it assumes the responsibility of collecting information and following up the accused wanted by the Commission from outside Iraq and recovering smuggled corruption funds,

At a time when the money recovery fund is concerned with recovering the financial rights of Iraq that others obtained illegally as a result of the misuse of the oil-for-food program, the embargo, smuggling, economic sabotage, or the exploitation of the sanctions imposed on Iraq before 2003, to achieve financial gains at the expense of the Iraqi people, In addition to receiving any compensation due to Iraq as a result of any legally recognized decision. https://www.mawazin.net/Details.aspx?jimare=213935

Foreign Ministry: The Baghdad Summit Will Follow New Paths

Political | 07:15 - 11/12/2022 Baghdad - Mawazine News The Ministry of Foreign Affairs confirmed, on Sunday, that the Baghdad summit to be held in Amman will be qualitative, reflecting the sectoral efforts in the three countries, Iraq, Oman and Egypt, and adopting new paths.

Ministry spokesman Ahmed Al-Sahaf said, "Foreign Minister Fuad Hussein met in the Jordanian capital, Amman, with his Jordanian counterpart, Ayman Safadi, and Egyptian, Sameh Shukri, to discuss tripartite coordination mechanisms and the development of advancing the implementation of the programs agreed upon within the three meetings."

And he indicated that "the parties stressed the importance of the Baghdad summit, which is scheduled to be held in Amman, to be of a quality that reflects the findings of the sectoral coordination efforts in the three countries and indicates that they are pursuing new paths with regard to food and energy security and at the level of political consultations."

He added, "The tripartite coordination mechanism is an open and complementary mechanism that has political and economic repercussions that confirm the principle of the common market and the complementary unity between these three countries." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=213902

Al-Sudani: The Government Is Determined To Transform The Poor From Social Welfare Recipients Into Labor Market Actors

Political | 05:19 - 11/12/2022 Baghdad - Mawazine News, Prime Minister Muhammad Shia' al-Sudani received today, Sunday, the World Bank's Vice President for Middle East and North Africa Affairs, Farid Belhaj, in the presence of the Regional Director for Eastern Countries and the World Bank's director in Iraq.

Al-Sudani's office stated in a statement, which Mawazine News received a copy of, that "during the meeting, prospects for bilateral cooperation were discussed to implement important strategic projects in various fields, and to set ambitious programs aimed at implementing reforms in the banking sector and in developing the private sector, as well as supporting government programs to face changes." climate".

He added, "The meeting witnessed discussions on the implementation of joint programs in the field of youth employment, unemployment reduction, and the development of the social protection program. They also discussed the establishment of the Reform, Recovery and Reconstruction Fund."

During the meeting, the Prime Minister referred to "the government's priorities based on the social and economic needs of citizens, and its intention to transform the poor groups from recipients of social care into active people in the labor market, through studied and realistic plans." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=213891

A Deputy For The Law Calls For The Return Of Public Inspectors To Reduce The Spread Of Corruption

Posted On2022-12-12 By Sotaliraq The representative of the State of Law coalition, Ahmed Al-Fawwaz, called for the return of public inspectors to curb the spread of corruption in state departments.

Al-Fawwaz stressed in a press interview, which was seen by Taqaddam, on: “The importance of strengthening the oversight role of the executive authority as a matter of support for these sections, including the Commission of Integrity and Financial Control,” calling for “reconsidering the file of the general inspectors to limit the spread of corruption in state departments.” .

Al-Fawwaz expected that "these oversight bodies will have an effective and tangible role on the executive authority in the coming days, more than it was in previous governments."

He also appreciated "the successive steps for the role and success of the current government in all that has been adopted, accompanied by broad popular satisfaction that pushes the legislative and executive authorities to provide what is better on the ground."

Al-Fouz added, "Retrieving the second batch of the smuggled money's value is a second achievement and a policy that calls for providing better services and building bridges of trust between the government and the people. We hope in the coming days for more steps to hold accountable and recover the rest of the smuggled money."

And he indicated, "The fight against corruption is no less important than terrorism, so we support the government's steps, and there is an international and regional welcome since the confidence was granted to the government of Muhammad Shia'a Al-Suwadani."

Al-Fawwaz pointed out, "The executive authority has committed itself to a ministerial program with many chapters, including dealing with the file of lecturers and contracts."

He continued, "We in the Legal Committee have many laws in progress and are awaiting the first legislative term of the second year of the fifth session to complete them, put them to vote and enter into force."

Al-Fawwaz concluded by saying, “The House of Representatives is responsible for a collaborative responsibility with the executive authority to reduce the phenomenon of corruption, pursue those wanted, and recover the looted money.” LINK

Newspapers Are Following The Impact Of Low Oil Prices On The Budget Law And Efforts To Recover Iraq's Money Smuggled Abroad

Posted On2022-12-12 By Sotaliraq Monday, December 12, 2022 The newspapers issued in Baghdad today, Monday, the twelfth of December, followed up the impact of the drop in oil prices on the draft budget law and efforts to recover smuggled Iraqi funds.. and other issues, including demonstrations by lecturers and contract owners.

On the subject of the budget, Al-Zawraa newspaper, published by the Iraqi Journalists Syndicate, said: “Specialists in economic affairs advised the government to implement a policy of hedging in the 2023 budget and to set an acceptable price for oil, while they warned of a significant drop in international oil prices during the next year.”

The expert in financial affairs, Nabil Al-Tamimi, said in an interview with Al-Zawraa: “The government has a special vision that it will employ in the general budget, through which it will try to implement and finance previous projects and not create new projects except for necessities, in addition to adopting the next budget as a development fund.”

Al-Tamimi called on the government not to set a huge budget because it will affect prices and cause some kind of inflation, but rather a kind of hedge must be used to maintain a financial surplus, even if the prices in the expected next year are good for oil, it can be used in the next budget And a sudden drop in prices may occur, as it is very expected that oil prices will drop in the year 2024.

He added, “There should be a part of the hedging policy in this budget,” stressing that the budget amount should be between 130 and 140 trillion as a maximum, and an attempt to control the markets and inflation, while achieving development goals.

While the newspaper quoted the economist, Ahmed Al-Majidi, saying: “There are fluctuations in global oil prices due to the Russian-Ukrainian crisis, as well as the Chinese policy that began to lift the restrictions of Corona, as well as Beijing’s new policy and its agreements with the Gulf countries, all of this will be reflected in oil prices,” noting: “ The year 2023 may witness a drop in oil prices to significant levels.”

While a member of the Parliamentary Finance Committee, Khalil Ghazi, confirmed: “The drop in oil prices in global markets affects the Iraqi draft budget law for the year 2023,” pointing to the need to reduce the estimated price of oil in the draft law.

Ghazi said, according to Al-Zawraa: “The general budget is estimated on the basis of selling oil. In the past, the price of oil was higher than 90 dollars, but it fell to less than 80 dollars, so the drop in oil prices will affect the draft general budget law.”

Al-Sabah newspaper, published by the Iraqi Media Network, followed the issue of efforts and endeavors to recover funds from corruption cases.

In this regard, she referred to the statement of the Director of the Media Center in the Integrity Commission, Ali Muhammad: “The most prominent countries to which funds obtained from corruption have been smuggled are the Kingdom of Jordan, Turkey, Lebanon, and a number of other regional countries.”

Muhammad added: “The commission reached, in the last meeting held with the judicial authorities in Jordan last April, to seize the funds in its territories, while there are some challenges related to the different legal systems facing the commission’s work in recovering funds from Turkey, so the recovery department approached the authorities counterpart to the signing of a memorandum of understanding between the two parties, but it did not specify time periods for recovering that money due to the complexity of the procedures.

He stressed that: “The movable and immovable funds of some of the accused or the fugitive convicts have recently been seized,” indicating: “The commission is awaiting the completion of the legal department in the Ministry of Justice with procedures related to filing lawsuits abroad, and giving judicial decisions the power of implementation, so that we can then recover the money.” reserved.”

In another matter, Al-Zaman newspaper followed the demonstrations of lecturers and contract holders in Baghdad and other provinces.

And she said in this regard: “The governorates witnessed mass demonstrations of education lecturers and owners of contracts and daily wages in various ministries, to demand confirmation of permanent staffing without restrictions or conditions, accusing the Ministry of Finance of procrastinating and delaying their appointment procedures under illogical justifications.”

And it showed that: “In Baghdad, the excluded holders of higher education contracts demonstrated, to demand that they be included in confirmation, like their peers.”

It quoted some demonstrators as saying that they are asking the Minister of Higher Education to look into their case. They are contract holders who were employed in public universities after October 2, 2019, and their case is still pending without resolving their conversion to 315 contracts, just like their peers who were included in the transfer and confirmation, despite their ownership. More than three years of service.

While it quoted eyewitnesses: “Some streets that witnessed sit-ins were closed, especially in front of the education directorates in Baghdad and the provinces.”

The witnesses added: “Hundreds of lecturers on the staff of the Dhi Qar Governorate Education Directorate organized a demonstration in front of the department building to demand confirmation of the owners. And they declared a three-day strike as part of the pressure on the central government to include them by confirming permanent staffing within the next year’s budget.

And she indicated that: “In Muthanna, the owners of the contracts protested in various circles to demand that they be fixed on the permanent owners. They indicated that their departments supported the financial allocation for that.

Hundreds of lecturers contracting with the Maysan Education Directorate, according to / time / during a demonstration in front of the directorate, demanded confirmation of the owners.

They made it clear during the vigil that they are demonstrating peacefully and there is an escalation that leads to a sit-in and a permanent strike in the event that they are not treated fairly by responding to their demands, which they see as right, which is to confirm them as they are in the contracts of other ministries, and that their numbers are not large in the governorate.

And the newspaper continued: “Dozens of lecturers, administrators and graduates closed the Basra Education Building to demand confirmation.” / LINK

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Iraqi News Highlights Monday Afternoon 12-12-22

Tlm724 Administrator Bondlady’s Corner

Learn About Dollar Exchange Rates In The Local Markets

Economie| 10:32 - 12/12/2022 Baghdad - Mawazine News The exchange rates of the dollar stabilized today, Monday, in the local markets. Selling price: 150,100 dinars per 100 dollars Buying price: 150,000 dinars per 100 dollars

The Central Bank Of Iraq Receives The Remaining Amount From The Kuwait Compensation Fund

Economie| 11:30 - 12/12/2022 Baghdad - Mawazine News The Central Bank of Iraq announced, on Monday, that it had received the remaining amount in the Kuwait Compensation Fund.

Iraqi News Highlights Monday Afternoon 12-12-22

Tlm724 Administrator Bondlady’s Corner

Learn About Dollar Exchange Rates In The Local Markets

The Central Bank Of Iraq Receives The Remaining Amount From The Kuwait Compensation Fund

Economie| 11:30 - 12/12/2022 Baghdad - Mawazine News The Central Bank of Iraq announced, on Monday, that it had received the remaining amount in the Kuwait Compensation Fund.

A bank statement stated, "The bank has received the remaining amount in the Compensation Fund, amounting to (7,946,316) US dollars, after paying the full compensation for the State of Kuwait."

The statement added, "The amount was returned after auditing the accounts according to Security Council Resolution No. (2621) for the year (2022) concerned with ending the file of compensation resulting from the invasion of the former Iraqi regime into the State of Kuwait."

https://www.mawazin.net/Details.aspx?jimare=213940

Integrity Confirms That It Is In The Process Of Preparing For A "Total War" On Corruption

Political | 03:06 - 12/12/2022 Baghdad - Mawazine News, the head of the Federal Integrity Commission, Judge Haider Hanoun, announced, on Monday, the formation of a central operations room that receives direct phone calls from victims of corruption throughout the country, and protects the victim from the corrupt in preparation for bringing them to justice, pointing out that the commission will reveal the results of its field inspection teams. Which made her visits to hospitals and prisons in the different governorates of the country.

In his speech during the launch of the activities of the National Integrity Week, which bore the slogan (Integrity is the verse of chastity), according to a statement of the commission received by Mawazine News, the head of the Commission stressed, "preparing the equipment and preparing the requirements to declare a comprehensive war on corruption - wherever it is - individuals and institutions,"

pointing out He pointed out that "the Commission sensed the sincere and true intentions of everyone in combating corruption, retribution from the corrupt, and recovering the people's money, whether the judiciary prepared by the umbrella under which the Commission's investigators work, which is also the pillar of order in society and the safety valve of society's life, as well as the legislative and executive authorities that have taken measures Real towards combating corruption and holding its perpetrators accountable, including working to amend the Integrity and Illegal Gain Commission Law No. (30 of 2011), which was amended.”

Judge Haider Hanoun praised "the media and civil society organizations, after them the fourth and fifth authorities, and their cooperation with the Commission in exposing the files of the corrupt." Alert to "the presence of some bad elements behind the presentation of the files, which aim to discredit national figures, discredit the loyal and honest, and spread the character of corruption to everyone."

And he indicated that "the commission embarked on a national program that began with the rehabilitation and preparation of the institution for the next stage, which required it to work effectively, seriously, and with a firm national belief without boredom or fatigue and without barriers or exceptions, and that the staff of the commission were determined to be the first to sacrifice and the last to benefit,"

expressing " He regrets the victims of corruption among the oppressed, who have been affected by the power of the oppressive ruler," pledging to "stand with them and remove the injustice from them through the procedures of the Commission that will take revenge on the corrupt and do justice to the honest and oppressed."

Hanoun warned: All service departments of the state that the Commission's procedures will not tolerate all those who cause harm to auditors, delay the completion of their transactions, or provide bad service to them, "explaining that" field teams in all investigation directorates and offices of the Integrity Commission in Baghdad and the provinces will pursue the corrupt. and the negligent, and caught them red-handed,”

pointing out that “these teams conducted inspection field visits to two important institutions: prisons and hospitals,” noting that “these teams are in the process of preparing reports and taking legal measures regarding these two files and bringing the negligent to justice,”

referring to the “achievements of the Investigation Department In the commission in the field of arrests of the bribe-takers and the corrupt, as well as many procedures that will be announced later, and within the framework of preparing for the comprehensive and holy war against corruption.

He added that "the people are the source of the authorities and the first affected by corruption," pointing out that "the manifestations of objection to corruption that the people showed on all occasions and made sacrifices for it will be the main source of strength in the fight against corruption and retribution from the senior corrupt,"

calling on "all Iraqi people to support the efforts Fighting corruption by spreading a culture of integrity and demonstrating against corruption within the family, as well as demonstrating against the scourge of corruption in front of government institutions," stressing "the need to boycott the corrupt and those who abuse public money and steal the people's livelihood, even if they are close friends, friends and colleagues at work," urging "Reporting them and providing information and evidence to the oversight authorities, so that those authorities can take the necessary legal measures against them, and rid those institutions of their evils and corruption." https://www.mawazin.net/Details.aspx?jimare=213957

Al-Sudani Heads An Extraordinary Session Of The Council Of Ministers Devoted To Discussing The Government Program

Political | 04:05 - 12/12/2022 Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani chaired, on Monday, an extraordinary session of the Council of Ministers to discuss the government program.

Al-Sudani's media office said in a statement, which Mawazine News received a copy of, that "Al-Sudani chaired an extraordinary session of the Council of Ministers devoted to discussing the government program." https://www.mawazin.net/Details.aspx?jimare=213962

Details Of The Meeting Of The President Of The Republic And The Governor Of The Central Bank

political| 01:46 - 12/12/2022 Baghdad - Mawazine News, President of the Republic, Abdul Latif Jamal Rashid, received, on Monday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif.

According to a statement by the Presidency of the Republic, "During the meeting, they discussed the importance of the Central Bank's role in the process of stabilizing the financial and economic system in the country, achieving sustainable development goals, and adopting sober financial policies to overcome the challenges facing the Iraqi economy."

And the President of the Republic stressed, "the importance of diversifying the sources of Iraqi national income, pointing to the need to control borders, close illegal border crossings, and organize customs imports to be added to the state budget."

He pointed to "the importance of encouraging and attracting investments by supporting the private sector, meeting the legal and legislative requirements for that, and enacting social and retirement security laws for this important sector that enhances job opportunities," adding that "

He also pointed to "the importance of enhancing tourism imports in the country, encouraging religious and archaeological tourism and setting the required controls for it, as it generates financial revenues to the state budget that are no less than investment revenues."

https://www.mawazin.net/Details.aspx?jimare=213950

The President Of The Republic Assures The “Central Bank Governor” Of The Importance Of Diversifying Iraqi National Income Sources

Monday, December 12, 2022 1:48 PM Baghdad / National News Center Today, Monday, the President of the Republic, Abdul Latif Rashid, stressed to the Governor of the Central Bank, Mustafa Ghaleb Makhaif, the importance of diversifying the sources of Iraqi national income.

A presidential statement received by the National News Center stated, "The President of the Republic received today, at the Baghdad Palace, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif."

The statement added that the meeting "discussed the importance of the Central Bank's role in the process of stabilizing the financial and economic system in the country, achieving sustainable development goals, and adopting sober financial policies to overcome the challenges facing the Iraqi economy."

Rashid stressed, “The importance of diversifying the sources of Iraqi national income, pointing to the need to control borders, close illegal border crossings, and organize customs imports to be added to the state budget.”

The President of the Republic referred to “the importance of enhancing tourism imports in the country, encouraging religious and archaeological tourism, and setting the required controls for it, as it generates financial revenues for the state budget that are no less than investment revenues.”

https://nnciraq.com/171756/

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Deb Aspinwall 12/12/22 Deb Aspinwall 12/12/22

KTFA Members "Iraq and Vietnam News" 12-12-2022

KTFA:

Henig: The largest oil producers in the world.. This is the arrangement of Iraq

12/11/2022 11:24:33

{International: Al Furat News} The United States is the world's largest oil producer, far behind its closest competitors, as it produced about 16.6 million barrels of oil on average per day in 2021.

Saudi Arabia and Russia rank second and third, respectively, with production of about 11 and 10.9 million barrels per day of oil, respectively, according to data collected by British Petroleum.

The top three countries produced more oil than the bottom seven countries in the top ten combined.

Canada ranked fourth, according to the chart prepared by Statista, with a production of 5.4 million barrels per day, followed by Iraq (4.1 million barrels), China (4 million barrels per day), the UAE (3.7 million barrels), and Iran (3.6 million barrels). Daily).

The first ten countries are completed by Brazil with 3 million barrels per day and Kuwait with 2.7 million barrels. LINK

KTFA:

Henig: The largest oil producers in the world.. This is the arrangement of Iraq

12/11/2022 11:24:33

{International: Al Furat News} The United States is the world's largest oil producer, far behind its closest competitors, as it produced about 16.6 million barrels of oil on average per day in 2021.

Saudi Arabia and Russia rank second and third, respectively, with production of about 11 and 10.9 million barrels per day of oil, respectively, according to data collected by British Petroleum.

The top three countries produced more oil than the bottom seven countries in the top ten combined.

The first ten countries are completed by Brazil with 3 million barrels per day and Kuwait with 2.7 million barrels. LINK

Henig: TBI: one trillion and 500 billion dinars recovered

INA- Baghdad

The Trade Bank of Iraq announced on Sunday the recovery of one trillion and 500 billion dinars, while confirming the absence of loans for fake projects.

According to a statement of the TBI received by the Iraqi News Agency (INA), "the Trade Bank OF Iraq TBI represents the gateway to contact the world for the implementation of Letters of credit and the issuance of letters of guarantee and foreign transfers with financial institutions with countries of the whole world, and that these banking operations are implemented for the government and private sectors."

Regarding what was published on one of the satellite channels, the statement explained, "The amount of the total loans in the bank is inaccurate because there are financial settlements that have been concluded with the bank's customers and they continue to repay the amounts of loans and their interest without delay."

It stressed, "There are no loans for fictitious projects, as mentioned, and pointed out, "The circulation of this information in the media without verifying its accurate sources directly affects the Trade Bank of Iraq and its relationship with correspondent banks around the world, which is reflected in the Iraqi economy in general."

It added, "The management of the Iraqi Trade Bank is keen to preserve public money and has been working in the last two years in cooperation with the Financial Supervision Bureau, the Integrity Commission and the Supreme Judicial Council on this matter, where nearly an amount of (one trillion and five hundred billion Iraqi dinars) has been obtained. LINK

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Henig: Al-Sudani is discussing with the World Bank the establishment of the Reform, Recovery and Reconstruction Fund

Baghdad / NINA / - Prime Minister Muhammad Shia'a Al-Sudani affirmed the government's priorities based on the social and economic needs of citizens, and its intention to transform the poor groups from recipients of social welfare into active people in the labor market, through studied and realistic plans.

Al-Sudani discussed, during his meeting today, Sunday, with the World Bank Vice President for Middle East and North Africa Affairs, Farid Belhaj, in the presence of the Regional Director for Eastern Countries and the Director of the World Bank in Iraq, prospects for bilateral cooperation to implement important strategic projects in various fields, and to develop ambitious programs aimed at implementing reforms in the Banking sector and the development of the private sector, and supports government programs to address climate change.

The meeting witnessed discussions regarding the implementation of joint programs in the field of youth employment, unemployment reduction, and the development of the social protection program. The establishment of the Reform, Recovery and Reconstruction Fund was also discussed. LINK

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Henig: The President of the Republic discusses with the Governor of the Central Bank the stability of the financial and economic system

2022-12-12

Today, Monday, the President of the Republic, Abdul Latif Jamal Rashid, discussed with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, the stability of the financial situation and the economy in the country.

During the meeting, according to a statement by the presidency, they discussed "the importance of the role of the central bank in the process of stabilizing the financial and economic system in the country, achieving sustainable development goals, and adopting sober financial policies to overcome the challenges facing the Iraqi economy."

The President stressed, "the importance of diversifying the sources of Iraqi national income," pointing to "the need to control borders, close illegal border crossings, and organize customs imports to be added to the state budget."

President Abd al-Latif Jamal Rashid pointed to "the importance of encouraging and attracting investments by supporting the private sector, meeting the legal and legislative requirements for that, and enacting social and retirement security laws for this important sector that enhances job opportunities," noting that "the stable security situation in the country enhances this aspect."

The president pointed to "the importance of enhancing tourism imports in the country, encouraging religious and archaeological tourism and setting the required controls for it, as it generates financial revenues to the state budget that are no less than investment revenues." LINK

Henig: Vietnam: Loosening monetary policy welcome amid credit crunch

December, 12/2022 - 09:00

The SBV last week raised the 2022 credit growth target for the domestic banking system by 1.5-2 percentage points from its previous target of 14 per cent, allowing commercial banks to pump an additional VNĐ240 trillion into the economy.

Compiled by Thu Hà

The State Bank of Việt Nam (SBV)’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year (Tết).

According to the SBV’s deputy governor Đào Minh Tú, the revision offers banks relatively large room to provide funds to businesses, individuals and the economy.

Under the new policy, BIDV, for example, has been allowed to lend an additional VNĐ27 trillion, while the amount for Vietcombank is VNĐ5 trillion.

A survey of the National Private Economic Development Research Board showed a severe lack of capital in businesses across industries after combating the COVID-19 impacts for two years, leaving them at risk of being unable to maintain operations and production, purchase raw materials, and pay salaries.

High credit growth rate in the first half of 2022 caused many banks to run out of their credit growth quota granted by the SBV and they couldn’t continue to lend to meet the capital needs of firms and people. Some banks had to stop receiving new loan applications for the last two months as they used all their granted credit growth quota.

Enterprises in Việt Nam had faced difficulties in having access to capital for the past several years, but only in the past 12 months has the situation become more serious.

Worse could still come as the country’s largest holiday Tết approaches and enterprises with business models that revolve around Tết need capital to import goods. They also need money to settle debts, as well as pay salaries and Tết bonuses to their employees.

The increase in credit growth cap at the last month of the year when businesses are in dire need of capital to fulfil their production and business plans to prepare for Tết is considered a timely and positive move to help businesses, and the economy as a whole.

According to experts, the credit growth cap expansion will increase the working capital of enterprises, rather than serve investments or real estate projects.

Banking expert Cấn Văn Lực says raising the credit growth cap is one of the important solutions to deal with the problem of capital bottlenecks of the economy in the short term.

The expansion will also help enterprises build momentum for economic growth next year, explaining that if the SBV waits until 2023 to expand credit, it will be hard to restart a system that has been suspended for a long time.

According to Lâm Thúy Ái, chairwoman of Mebipha Trading Production Company, the news that the SBV raised credit room is very positive, helping many businesses, including her company, have more opportunities to access capital to reactivate their production and business plans in 2023.

Nguyễn Thế Minh, head of Yuanta Vietnam Securities Company’s retail research division, expects the increase in credit growth cap will help reduce pressure on interest rate hikes to support the economy next time.

Minh explains interest rate has increased strongly since August this year as the room for credit growth was limited while capital demand was large. Therefore, when the SBV grants more credit quota for banks, lending rates will tend to cool down gradually in the short term.

Minh believes the credit growth cap expansion of 1.5-2 percentage points, or VNĐ240 trillion, will not significantly affect the country’s inflation, especially when global commodity prices, including oil prices, tend to cool down. Việt Nam’s inflation has averaged 5 per cent since 2013, meaning that inflation, which currently stays at 4.5 per cent, is still below the average rate.

Beneficiaries

According to the SBV’s deputy governor Đào Minh Tú, local banks that meet liquidity requirements and offer low lending interest rates are prioritised for the increase in credit growth cap this time.

The SBV sees it needs to impose credit growth restrictions on lenders with high interest rates. Banks that have not reached the cap do not need a quota increase for now.

However, banks need to actively mobilise deposits to have enough funds to lend. Despite the extra lending room, Việt Nam’s credit growth must follow the safety of lending activities and liquidity.

Saigon Securities Incorporation (SSI)’s analysts also said the pressure on banks to balance capital is huge. Liquidity in the banking system in the medium term has yet to improve as deposit growth is much lower than credit growth. By October 25, credit surged by 11.5 per cent against end-2021 while mobilised deposits rose by only 4.6 per cent.

Several banks and analysts forecast the increased credit quota would not result in a major influx of cash into the economy since many lenders have reached or exceeded the safe loan-to-deposit ratio (LDR).

Yuanta’s Minh says according to the current legal regulations, banks are allowed to lend up to VNĐ85 out of every VNĐ100 they mobilise, but 16 out of 27 listed banks had reached an LDR of more than 100 per cent by the end of the third quarter.

Under the decision on the credit growth cap expansion, the SBV also directs commercial banks to prioritise capital for production and business activities; priority sectors such as agriculture, rural development and export; small and medium enterprises; and supporting industries.

Businesses also agreed, saying the new policy should be limited to beneficiaries with proven track records, as well as those in manufacturing, export, and agriculture sectors that have already secured orders they need to fulfil. — VNS LINK

DINARRECAPS8 12/12/22 DINARRECAPS8 12/12/22

Iraqi News Highlights Sunday Evening 12-11-22

Tlm724 Administrator Bondlady’s Corner

The Rise In The Price Of The Dollar Is Temporary

The appearance of Muhammad Saleh to / NINA / Sunday 11 December 2022 11:12 | Economica lNumber of readings: 384 Baghdad / NINA / - The financial expert, Mazhar Muhammad Salih, confirmed: The rise in the price of the dollar is temporary, until private banks practice the rules of international compliance in the transfer for the benefit of the beneficiaries.

Iraqi News Highlights Sunday Evening 12-11-22

Tlm724 Administrator Bondlady’s Corner

The Rise In The Price Of The Dollar Is Temporary

He told the National Iraqi News Agency / NINA /: that the rises that occurred are a temporary phenomenon dictated by regulatory conditions in the procedures for conducting external transfer requests (submitted by local banks) on foreign currency.

And Saleh added: It was worked a while ago on an advanced (electronic platform) that links the request for transfers by banks with correspondents from international banks and the relevant global compliance bodies at the same time.

And he explained: The new procedures have restricted the supply of foreign currency temporarily, which requires a simple adjustment period in order for private banks to practice global compliance rules in transferring for the benefit of beneficiaries from foreign trade financing operations to the private sector.

And between Saleh: It takes some time to reorganize the requests and their consistency with the global requirements for transfer through the digital platform, which has come to represent the new tool in dealing with the window of the Central Bank of Iraq for buying and selling foreign currency.

The market for buying and selling foreign currencies witnessed during the last few period an increase from its usual daily rate, exceeding 150 thousand dinars per hundred dollars./ End 3

https://ninanews.com/Website/News/Details?key=1019613

Al-Sudani Is Discussing With The World Bank The Establishment Of The Reform, Recovery And Reconstruction Fund

Sunday, December 11, 2022 17:48 | political Number of readings: 199 Baghdad / NINA / - Prime Minister Muhammad Shia'a Al-Sudani affirmed the government's priorities based on the social and economic needs of citizens, and its intention to transform the poor groups from recipients of social care into active people in the labor market, through studied and realistic plans.

Al-Sudani discussed, during his meeting today, Sunday, with the World Bank Vice President for Middle East and North Africa Affairs, Farid Belhadj, in the presence of the Regional Director for Eastern Countries and the Director of the World Bank in Iraq, prospects for bilateral cooperation to implement important strategic projects in various fields, and to develop ambitious programs aimed at implementing reforms in the sector. Banking and the development of the private sector, and supports government programs to address climate change.

The meeting witnessed discussions on the implementation of joint programs in the field of youth employment, unemployment reduction, and the development of the social protection program. The establishment of the Reform, Recovery and Reconstruction Fund was also discussed./ End 5

https://ninanews.com/Website/News/Details?key=1019698

The World Bank Is Optimistic About The Future Of Iraq Due To Its Rich Human And Natural Resources

Political | 04:18 - 11/12/2022 Baghdad - Mawazine News, President of the Republic Abdul Latif Rashid stressed, on Sunday, the importance of strengthening cooperation between Iraq and the World Bank, while the World Bank expressed optimism about the future of Iraq due to its rich human and natural resources.

And the Presidency of the Republic stated in a statement, which Mawazine News received a copy of, that "Rashid received the World Bank delegation at the Baghdad Palace, and during the meeting, they reviewed the existing aspects of cooperation between Iraq and the World Bank in the financial and economic sectors, and the need for the banking system in Iraq to develop was emphasized."

In a way that is more rapid, accurate, safe and transparent, in addition to emphasizing the importance of diversifying sources of national income and not relying solely on oil by strengthening the agricultural and industrial sector.

The President of the Republic said, according to the statement, that "Iraq is one of the active countries in the international community and one of the founders of the United Nations, the World Bank and the League of Arab States," stressing, "

Rashid added, "It is important for the international community to know that Iraq, since the defeat of ISIS, has become more politically, security and economically stable, in order to encourage investments and capital to work in the country."

He noted, "The Iraqi government is serious about developing plans, programs, and laws that are directly related to the needs of citizens by advancing the economy, infrastructure projects, and supporting the private sector."

He explained, "The most prominent challenges facing the country are the climate change crisis that threatens the world as a whole, as well as the water problem with neighboring countries," stressing "the presence of joint delegations exchanging dialogues to reach successful solutions for a more equitable distribution of water shares commensurate with the increase in the population." .

He continued, "What exacerbates the water crisis is waste and the absence of the required organization," pointing out that "the competent Iraqi government agencies have plans drawn up by specialists that need work and implementation more than the need for conferences and meetings."

For its part, the World Bank delegation affirmed its optimism about the future of Iraq for its rich human and natural resources, expressing the World Bank's aspiration to enhance cooperation with Iraq in order to develop its economy. https://www.mawazin.net/Details.aspx?jimare=213885

Iraq's Oil Exports To America Declined Over The Past Month

Economie| 12:47 - 11/12/2022 Baghdad - Mawazine News The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America amounted to more than 8.5 million barrels last November.

The administration said in its table, that "Iraq exported crude oil to America during the month of November last 8.550 million barrels, at a rate of 285 thousand barrels per day," up from the month of October, in which Iraqi oil exports to America reached 4.588 million barrels, at a rate of 148 thousand barrels per day.

She added, "Iraq exported crude oil to America during the first week of November at a rate of 141,000 barrels per day, while an average of 385,000 barrels per day was exported in the second week, and an average of 363,000 barrels per day was exported in the third week," noting that "the fourth week's exports amounted to 252,000 barrels per day.

And the US Energy Information Administration stated that "Iraq ranked fourth in its exports to America during the past month after each of: Canada, Mexico, and Saudi Arabia, and it ranked second in the Arab world after Saudi Arabia, whose last exports to America reached 11 million and 310 thousand barrels per day," indicating that " Canada ranked first as the most oil-exporting country to America, followed by Mexico. https://www.mawazin.net/Details.aspx?jimare=213867

The World Bank: Iraq's Rich Resources Give Rise To Optimism About The Country's Future

Arab and international Economy News / Baghdad On Sunday, a delegation from the World Bank expressed optimism about the future of Iraq due to the presence of rich human and natural resources, stressing its aspiration to develop the country's economy.

A statement by the Presidency of the Republic stated, "President Abdul Latif Jamal Rashid received, at the Baghdad Palace, the World Bank delegation.

He said that Iraq is one of the active countries in the international community and one of the founders of the United Nations, the World Bank and the League of Arab States, stressing the need to strengthen and expand relations with the World Bank.

He added, "It is important for the international community to know that Iraq, since the defeat of ISIS, has become more politically, security and economically stable, in order to encourage investments and capital to work in the country."

The President of the Republic noted that "the Iraqi government is serious about developing plans, programs and laws that are directly related to the needs of citizens through the advancement of the economy, infrastructure projects and support for the private sector."

The Iraqi president stated that "the most important challenges facing the country is the climate change crisis that threatens the world as a whole, as well as the water problem with neighboring countries, stressing the presence of joint delegations exchanging dialogues to reach successful solutions for a more equitable distribution of water shares commensurate with the increase in the population."

He continued, "What exacerbates the water crisis is waste and the absence of the required organization, pointing out that the relevant Iraqi government agencies have plans developed by specialists that need work and implementation more than the need for conferences and meetings."

During the meeting, aspects of the existing cooperation between Iraq and the World Bank were reviewed in the financial and economic sectors, and the need for the banking system in Iraq to develop in a way that is more rapid, accurate, safe and transparent was emphasized, in addition to emphasizing the importance of diversifying sources of national income and not relying solely on oil through Strengthening the agricultural and industrial sector.

For its part, the World Bank delegation affirmed its optimism about the future of Iraq due to its rich human and natural resources, expressing the World Bank's aspiration to enhance cooperation with Iraq in order to develop its economy.

Views 94 Added 12/11/2022 - 4:33 PM Updated 12/11/2022 - 7:39 PM

https://economy-news.net/content.php?id=31276

Details Of The Sudanese Meeting With The Delegation Of The International Monetary Fund

Money and business Economy News / Baghdad Prime Minister Mohamed Shia Al-Sudani affirmed today, Sunday, that the government's priorities are based on the social and economic needs of citizens.

The media office of the Prime Minister said in a statement: "Al-Sudani received today, Vice President of the World Bank for Middle East and North Africa Region, Farid Belhaj, in the presence of the Regional Director for Eastern Countries and the Director of the World Bank in Iraq."

He added, "During the meeting, they discussed prospects for bilateral cooperation to implement important strategic projects in various fields, and to set ambitious programs aimed at implementing reforms in the banking sector and developing the private sector, as well as supporting government programs to confront climate changes."

He continued, "The meeting witnessed discussions on the implementation of joint programs in the field of youth employment, unemployment reduction, and the development of the social protection program. They also discussed the establishment of a reform, recovery and reconstruction fund."

During the meeting, the Prime Minister referred, according to the statement, to "the government's priorities based on the social and economic needs of citizens, and its intention to transform poor groups from recipients of social welfare into active persons in the labor market, through studied and realistic plans." 60 views Added 12/11/2022 - 5:48 PM Updated 12/11/2022 - 7:36 PM

https://economy-news.net/content.php?id=31278

The President Of The Republic Stresses The Importance Of Strengthening Cooperation Between Iraq And The World Bank

Today, Sunday, President Abdul Latif Jamal Rashid stressed the importance of strengthening cooperation between Iraq and the World Bank.

The media office of the Presidency of the Republic said in a statement: "President Rashid received today, at the Baghdad Palace, the delegation of the World Bank."

The president said, according to the statement, that "Iraq is one of the active countries in the international community and one of the founders of the United Nations, the World Bank and the League of Arab States, stressing the need to strengthen and expand relations with the World Bank."

Rashid noted that "the Iraqi government is serious about developing plans, programs and laws that are directly related to the needs of citizens through the advancement of the economy, infrastructure projects and support for the private sector."

He explained that "the most prominent challenges facing the country is the climate change crisis that threatens the world as a whole, as well as the water problem with neighboring countries, stressing the presence of joint delegations exchanging dialogues to reach successful solutions for a more equitable distribution of water shares commensurate with the increase in the population."

The President of the Republic added, "What exacerbates the water crisis is waste and the absence of the required organization, pointing out that the relevant Iraqi government agencies have plans developed by specialists that need work and implementation more than the need for conferences and meetings."

And the media office stated that "during the meeting, the existing aspects of cooperation between Iraq and the World Bank in the financial and economic sectors were reviewed, and the need for the banking system in Iraq to develop in a way that is more rapid, accurate, safe and transparent was emphasized, in addition to emphasizing the importance of diversifying sources of national income and not Relying solely on oil by strengthening the agricultural and industrial sector.

For its part, the World Bank delegation affirmed, according to the statement, its optimism about the future of Iraq for its rich human and natural resources, expressing the World Bank's aspiration to enhance cooperation with Iraq in order to develop its economy.

https://www.radionawa.com/all-detail.aspx?jimare=32521

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Deb Aspinwall 12/12/22 Deb Aspinwall 12/12/22

"Tidbits From TNT" Monday AM 12-12-2022

TNT:

Tishwash: The Economist: Iraq is among the fastest growing economies in the Middle East in 2023

A report by the Economic Intelligence Unit of the English Economist Group showed, on Monday, that Iraq is among the most economically developing countries in the Middle East for the year 2023, while it expected inflation to reach about 4.8 percent.

According to the group, which indicated in its report "Middle East Prospects 2023", which was seen by Shafaq News Agency, "The countries of the Gulf Cooperation Council and Iraq will benefit to the maximum extent from the developments of the international energy market in 2023, as the countries of the Gulf Cooperation Council witnessed an increase in oil and gas revenues, which Help drive business activity in the non-energy sectors.”

TNT:

Tishwash: The Economist: Iraq is among the fastest growing economies in the Middle East in 2023

And she added, "Iraq will witness economic growth in 2023 with Turkey, the UAE and Qatar, reaching more than 4 percent, outperforming Saudi Arabia and the rest of the other countries in the Middle East, while economic growth in Yemen will witness zero, 2 percent in Iran and 2.8 percent in Egypt."

And she expected that "the inflation rate in 2023 in Iraq will reach a rate of 4.8 percent, while Lebanon will be at the forefront of the countries with the highest inflation in the Middle East for the year 2023 at a rate of 167 percent, in Syria 63 percent, in Yemen 39 percent, and in Turkey 34 percent," indicating that less " Inflation will go to Saudi Arabia at a rate of 2.8 percent. link

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CandyKisses: Oil prices are rising again. Brent touches $77 per barrel

Baghdad Today - Follow-up

Oil prices rose more than 1 percent in early Asian trading on Monday as a key crude pipeline between Canada and the United States remained shut down as Russian President Vladimir Putin threatened to cut output in response to the West's imposition of a cap on Russian oil export prices.

Brent crude futures were up 83 cents, or 1.1 percent, at $76.93 a barrel by 00:20 GMT. U.S. West Texas Intermediate crude was at $71.92 a barrel, up 90 cents, or 1.3 percent

, and Canada's TC Energy said on Sunday it had not yet determined the cause of last week's Keystone pipeline oil spill in the United States, while also did not provide a timetable for when the pipeline would resume.

The 622,000 bpd Keystone pipeline is an important artery for transporting Canadian heavy crude from Alberta to refineries in the U.S. Midwest and Gulf Coast and for export.

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CandyKisses: The World Bank is "optimistic" about the future of Iraq because of its "rich" resources and looks forward to developing its economy

Shafaq News/ A delegation from the World Bank expressed, on Sunday, its optimism about the future of Iraq due to the presence of rich human and natural resources, stressing its aspiration to develop the country's economy.

A statement by the Iraqi Presidency, received by Shafaq News agency, stated that "President Abdul Latif Jamal Rashid received, at the Baghdad Palace, the World Bank delegation,

During the meeting, aspects of cooperation between Iraq and the World Bank were reviewed in the financial and economic sectors, and the need for the banking system in Iraq to develop in a way that is more rapid, accurate, safe and transparent was emphasized, in addition to emphasizing the importance of diversifying sources of national income and not relying solely on oil through Strengthening the agricultural and industrial sector.

Mot: ...... a Reality fer Sure!! ~~~~

Mot: ... Clever He Is! ~~~~

Deb Aspinwall 12/11/22 Deb Aspinwall 12/11/22

Some " Iraq Economic News" posted by Clare at KTFA 12-11-2022

KTFA:

Clare: Planning and the World Bank are discussing three important files, including financial reform

Deputy Prime Minister - Minister of Planning, Muhammad Ali Tamim, discussed today, Sunday, with the World Bank Vice President for the Middle East and North Africa, Farid Belhaj, 3 important files, including financial reform.

A statement from his office, which {Euphrates News} received a copy of, stated that: "During the meeting, which was attended by John Kristoff, the Regional Director for the Levant Countries, Paul Numba, Richard Abdel Nour, the Special Representative of the World Bank Mission in Iraq and the Director General of International Cooperation in the Ministry, Saher Abdel Kazim, and a number of officials took place. Exchanging views on a number of issues related to the role of the World Bank in supporting development efforts in Iraq.

KTFA:

Clare: Planning and the World Bank are discussing three important files, including financial reform

He added, "especially with regard to the work of the Recovery Fund, the Social Fund for Development, and carrying out financial reform."

Belhaj expressed "the World Bank's readiness to continue serious and fruitful cooperation with the Iraqi government in everything related to financing development projects." LINK

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Clare: The World Bank is "optimistic" about the future of Iraq because of its "rich" resources and looks forward to developing its economy

2022-12-11

A delegation from the World Bank expressed, on Sunday, its optimism about the future of Iraq due to the presence of rich human and natural resources, stressing its aspiration to develop the country's economy.

A statement by the Iraqi Presidency, received by Shafaq News agency, stated that "President Abdul Latif Jamal Rashid received, at the Baghdad Palace, the World Bank delegation,

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Clare: In numbers, Parliamentary Finance reveals the features of the 2023 budget and expects its approval date

12/11/2022

The Parliamentary Finance Committee expected the approval of the draft financial budget law for the year 2023 at the beginning of next year.

Committee member Mueen Al-Kadhimi said in a press statement this evening: "The government will present a draft budget law for 2023 in the resumption of parliament sessions next month."

He added, "The budget will reach 130-140 trillion dinars, and its discussion will take two months in the House of Representatives because there are opinions of committees and political blocs, and we hope that it will be approved at the end of February or early March, so that ministries and institutions can launch their service projects."

Al-Kadhimi stressed, "the need to benefit from the surplus of 2022 and the reconstruction fund, which was formed by an Iraqi-Chinese agreement, and it currently contains 3 billion dinars, which would support investment projects."

He noted that "1/12 will be spent until the budget is approved," ruling out that "
He stressed that "the government is very keen to provide citizens with 12 ration rations in 2023," noting that 70% of the budget goes to operating expenses and 30% to investment. The price of oil is conservative with the decline in crude prices, and 65 dollars may be appropriate.”

For his part, Jamal Koujar, a member of the Finance Committee, told Al-Furat News: “We heard that the price of a barrel of oil was approved between 65 to 75 dollars in the 2023 budget, but the exact number is not

It is clear so far.” In the sense that it was for some reason and will rise? Or is it real in the sense that prices will remain at this level?” LINK

Clare: Parliamentary Finance announces the completion of the touches of the budget and its transfer to the Sudanese office

11/12/2022

The Parliamentary Finance Committee announced, today, Sunday, the completion of the final touches of the budget and its transfer to the Prime Minister's Office, and while it recommended benefiting from the 2022 surplus, it indicated the trend to increase the amounts for the development of the regions.

Committee member Mueen Al-Kadhimi said in a televised interview, followed by Mawazine News, that "the competence of the Ministry of Planning in the 2023 budget is the financial and investment side, while the Ministry of Finance is responsible for operational estimates," noting that "the final touches of the budget have been completed in the two ministries and have been transferred to the head office." Ministers to discuss it and transfer it to the Council of Ministers later.

He added, "The budget will make some amendments to it," noting that "the legislative recess of Parliament does not affect it, and there will be room to complete it."

He emphasized that "the budget will be handed over to the House of Representatives early next year, and its total amounts will range from 130-140 trillion dinars," pointing out that "discussing the budget will take from one to two months in Parliament."

And he stressed the need to "take advantage of the surplus in 2022 in addition to the reconstruction fund, which was formed as a result of the Iraqi-Chinese consensus several years ago," expressing his hope that "the budget will be resolved and approved early."
And that "the operational budget includes the salaries of 4 million employees and social protection, which amounts to 5-6 trillion dinars," explaining that "70 percent of the budget will be operational and 30 percent investment."

He stressed "the importance of benefiting from other aspects, including the Reconstruction Fund funded by the sale of Iraqi oil to China, in which there are currently 3 billion dollars," noting that "

He stated that "this fund would support the investment projects called for by the Prime Minister in the government program," noting that "the price of a barrel of oil in the budget is $75 unrealistic due to the possibility of a drop in oil prices in 2023, so the price of a barrel must be realistic in agreement with the Ministry of Defense." oil.”

Regarding the development of the regions, Al-Kazemi explained that "the budget includes an item for the development of the regions, which is expected to be 5 trillion dinars distributed among 15 governorates according to the population percentage," explaining that "the committee will work to increase the amount of development of the regions if there is room in the budget with the aim of including the provinces with more projects." LINK

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Clare: The Central Bank launches an electronic platform for buying and selling the dollar next month

12/11/2022

An economist revealed the readiness of the Central Bank of Iraq to launch an electronic platform for buying and selling the dollar.

Ahmed Abd Rabbo said to the program "Unannounced" broadcast by Al-Furat TV channel this evening: "The Central Bank will launch in December next an electronic platform for those who buy and sell dollars."

He added that the bank "directed banks to be more scrutiny of dollar customers, which led to a rise in the currency, but it was slight and took more than its range," expecting that "the central bank will control the price of the dollar in the next two weeks."

Abed Rabbo pointed out that "the central bank has cash reserves that exceed 90 billion dollars, and the Iraqi economy is better than many countries," he said.

And between "there was a rush to sell the dollar, which led to a drop in the exchange rate a month ago, and what happened today is that the central bank withheld dealing with a number of banks because of the instructions of the US Federal Bank, which stopped dealing with them due to money laundering, which created a gap in the local market between supply and demand for the dollar." .

Abed Rabbo noted that "the fears of citizens and traders prompted more demand for the currency market, and we must send messages of reassurance," stressing that "the central bank is in control of the situation."

He continued, "The central bank is working in a difficult economic situation and cannot stop selling the currency in a country that imports everything, and the government is supposed to know the identity of importers who have large bills."

And he stressed, "The central bank's measures to control the market contributed to raising the price of the dollar and the Iraqi economy is proceeding in a way that warns of the next in the event of a drop in oil prices," noting that "the lack of sales of the central bank affected the imbalance and high prices of the local market."

He stressed that "the US federal monitors the dollar in all countries of the world and the Iraqi Central Bank has no ability to do so, and today there are indications of the recovery of the Iraqi economy."
LINK

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Clare: An economist expects the dollar to decline within two weeks and warns of rising commodities

12/11/2022

The economist, Safwan Qusay, predicted a decline in dollar prices during the next two weeks, while he warned of a rise in commodities.

Qusay said; For the program {Unannounced} broadcast by Al-Furat TV channel this evening: “The rise in the exchange rate of the dollar due to the four withdrawn banks, as well as for the purpose of checking the documents that were submitted to the window and verifying the Iraqi gender, in addition to the procedures for money transfers that entered the auditing and then transferring processes according to the new system.”

He added, "The central bank's sales decreased by 90 million dollars per day, and there are rejected transfers due to the inability of some banks to enter the currency auction after the new conditions," expecting "the return of the dollar price to its previous state during the next two weeks."

Qusai pointed out, "The transformation process will not be completely returned to whoever owns the dinar to enter the window, because some of the merchants are not organized. There may be drug dealers or money laundering, and these cannot, with the conditions of the central bank, enter into the currency increase."

He continued, "What tells us, as consumers, is that commodity prices will rise, and currently market prices have risen to 51%, but the central bank has sufficient reserves to meet the market's need."

Qusai called on the central bank to "track the movement of the dinar outside the banking system, as there is a cash block outside this system, we do not know where it comes from, and the US treasury has observations on the financial system in Iraq, just as the goods that enter the country do not equal the money that goes abroad."

And Balfoul added, "The central bank sells $20 million per day for tourism and treatment purposes, and the money laundering follow-up department in the central bank is demanding that it have offices in the real estate and gold market to know the legitimacy of returns."

Qusai explained, "More than 80% of the banking sector is funded by government banks such as Al-Rafidian and Al-Rasheed, and in practice they are within the misleading law, but tracking the movement of money contributes to controlling the hard currency."

And he continued, "In practice, there is a kind of reducing the burden on Iraq through diversifying currency sources, and there is a basket of global operations, and the Chinese yuan is one of them."

However, Qusay said, "When the port of Faw is completed, there will be a transfer of goods, and the demand for the Iraqi dinar will increase.

The problem now is the strength of the Iraqi dinar is tied to oil only, and we have to support monetary policy. As for restoring confidence in the Iraqi dinar, it takes time, especially after the theft of the century." LINK

DINARRECAPS8 12/11/22 DINARRECAPS8 12/11/22

Sunday Morning Iraq Parliament News Highlights 12-11-22

Al-Maliki's Coalition Strongly Attacks Al-Halbousi: He Uses The Sectarian Card

news source /Iraq Today Agency Al-Maliki's coalition strongly attacks Al-Halbousi: he uses the sectarian card Iraq today

The source of the news /Iraq Agency today Baghdad-Iraq today: The State of Law Coalition considered that the Speaker of Parliament, Muhammad al-Halbousi, resorting to the file of the absentees is "a familiar thing," while stressing that al-Halbousi is trying to use the "sectarian card" to gain some public support.

Sunday Morning Iraq Parliament News Highlights 12-11-22

Al-Maliki's Coalition Strongly Attacks Al-Halbousi: He Uses The Sectarian Card

news source /Iraq Today Agency Al-Maliki's coalition strongly attacks Al-Halbousi: he uses the sectarian card Iraq today

The leader of the coalition, Kazem al-Haidari, said in a press interview, “There is talk about dismissing Parliament Speaker Muhammad al-Halbousi from his post, even if it was rumors, but we are used to using (the sectarian card) in these times.”

He added, "We are accustomed to Iraqi politicians relying on sectarianism at some critical moments, thinking that this is the only way out of the crisis that surrounds them."

The leader in al-Maliki's coalition explained, "The politicians know very well that these files are hot, so they try to gather young people and direct them towards this file to gain some support and public support."

Al-Haidari said, "This policy is old, and the Iraqi people are accustomed to it, and it is no longer something new." You can read the news from the source here:

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Expectations Of Major Political Changes In The First Quarter Of 2023

Posted On2022-12-11 By Sotaliraq Baghdad / Tamim Al-Hassan The coordination framework has been in a complex crisis for about two weeks, due to the continuation of internal disputes on the one hand, and fears of the disintegration of the State Administration Coalition. And the Sadrist movement - whose leader Muqtada al-Sadr still refuses to communicate with any political party - predicted that surprises would occur during the first quarter of next year.

The conflict within the Shiite bloc, which controls more than half of the ministries, led to the threat of an important party to withdraw from the government.

This comes at a time when the fifth anniversary of the victory over the terrorist gangs of “ISIS” is passing, while Parliament Speaker Muhammad al-Halbousi shocked the families of the missing persons during that period.

Prime Minister Muhammad Shia’ al-Sudani said yesterday: “The tenth of December will remain an Iraqi symbol of courage and sacrifice with distinction, and thanks to the rational reference for its fatwa, which followed its zealous guidance.”

And he added: “Glory to everyone who made this victory, and may the pure blood be blessed, which restored the pulse to Iraq and the Iraqis,” stressing that “the memory of the victory is an incentive to build Iraq and serve its people.”

In conjunction with the anniversary, human rights organizations said that there are about 11,000 families who have filed complaints about the loss of their children in the last 8 years, most of them between 2017 and 2022.

On the other hand, the Speaker of Parliament said in an interview with a local TV station: “We must tell people who they are (the disappeared), and change their name first to the murdered, not the absent: the murdered have passed away.”

Al-Halbousi criticized what he considered: “their families (the disappeared) have been misled since 2014 until now.” He added, “To be bolder with the people who lost their families and children… the file should not be used for political slander… and giving their families hope for their return, as this is not true.”

The file of the missing or disappeared is considered one of the most prominent files that were within the political agreement between the Sunni forces and the coordination framework for the formation of the Sudanese government.

It seems, according to political sources who spoke to (Al-Mada), that the Speaker of Parliament: “has received non-positive signals from the framework regarding this file and other files that prompted him to threaten to withdraw from the government and the State Administration Coalition.”

In the same meeting, the Speaker of Parliament considered the coming year 2023 a “crossroads,” and hinted at the possibility of a change in the political map.

Al-Halbousi said: “If the political agreement is not achieved, there is no purpose in staying in the political process,” indicating that this decision may also be taken by some Kurdish and Shiite forces.

And the Speaker of Parliament continued: “But we will not repeat the mistake of the Sadrist movement (referring to the withdrawal from Parliament) and leave our representation to other parties.”

After the last statement and other words mentioned by al-Halbousi in the meeting about the inability of the coordination framework to “enter Jurf al-Sakhar” south of Baghdad, this sparked strong criticism within the “framework.”

And the sources, who asked not to be identified, confirmed that "the speaker of parliament questioned the existence of a prior agreement with the leader of the Sadrist movement, Muqtada al-Sadr (before the withdrawal of his deputies last June) by giving a deadline of up to 6 months before withdrawing from it."

According to the leaks, there are difficulties in implementing the terms of the political agreement, especially in the Sunni part, such as withdrawing the crowd from the areas that were under the control of “ISIS”, and dissolving the Accountability and Justice Commission.

In turn, a former Sadrist deputy suggested in an interview with (Al-Mada) that “the crisis will escalate at the beginning of next year, and the state administration coalition may be dissolved in next March, as a maximum.”

Representative Al-Sadr, who asked not to be named, believes that "conflicts over important positions and the intersection of parties because of control over some ministries will accelerate the explosion inside and outside the framework." A few days ago, information leaked about the possibility of Nouri al-Maliki's withdrawal from the government due to the control of other parties on the decision within the coordination framework.

According to what is being circulated, Oil Minister Hayan Abdul-Ghani of the State of Law objected to the sale of 3 plants belonging to the ministry.

And the oil minister tried to prevent or retract that deal, but he failed, which caused al-Maliki's threat, according to his three ministers (oil, sports, and communications).

The State of Law Office said, in response to these leaks: “We affirm the unity of the coordination framework, its cohesion, and its commitment to support the government, and the government is responsible before the framework as it is responsible before the State Administration Coalition.”

Parliament had postponed last week's session, devoted to voting on part of the special grades, due to continuing differences. It seems that the differences in some joints have escalated to the judiciary, as the deputy head of the Military Industrialization complains about his boss because of the latter's clinging to the position.

According to a document published on some news platforms, Ali Fakhri Abdel Hamzah, Vice President of the Commission, filed a complaint with the competent court because the defendant, Muhammad Sahib al-Darraji, refused to implement the decision of the Federal Supreme Court, which included the cancellation of Cabinet Resolution 133, according to which the defendant was appointed as head of the Military Industrialization Commission.

Al-Darraji is close to Shibl al-Zaidi, leader of the Imam Ali Brigades - one of the Hashd factions - while there are leaks about the existence of struggles to control the body.

Abdel-Hamza demanded that Al-Darraji be considered a violation of the law, in addition to impersonating the head of the Military Industrialization Authority and usurping the position by force and intimidation in order to continue carrying out his business, which caused severe damage to national security and damage to public money.

Abdel-Hamza threatened to take legal action against him (Al-Daradji) and anyone who proves his involvement in not implementing the Federal Supreme Court’s decision, which is irrevocable and binding on all authorities, and which was publicly disclosed in Federal Case 198 on 11/13/2022. LINK

Al-Abadi: The Momentum Of Victory Is Achieved Through Good Governance Away From Corruption, Chaos, And The Narrow Interests Of Opportunistic Forces

Political | 06:55 - 10/12/2022 Baghdad - Mawazine News Former Prime Minister Haider Al-Abadi confirmed that the momentum of victory is achieved through good governance away from corruption, chaos, and the narrow interests of self-interested political forces.

Al-Abadi's office stated in a statement, which Mawazine News received a copy of, that "a celebration was held today, Saturday, in Najaf Governorate, on the occasion of the fifth anniversary of defeating terrorism and achieving victory over the terrorist gangs of ISIS, in the presence of a large gathering of the province's notables and its people, including political figures, deputies, military officers and sheikhs." Clans, clerics, academics and students.

Al-Abadi addressed the Iraqis in his speech during the ceremony, and said: "The living nations celebrate the days of their victory and glory, and today is the day of your most precious victory, which you wrote with blood, patience and sacrifice," stressing that the victory over terrorism was absolutely Iraqi, and from injustice the victory was granted to the foreigner, whoever it was.

He added, "We supported the world, and we extended our gratitude to it, but we affirmed and affirmed that the blood and victory was Iraqi par excellence, and that the world's support for us was in defense of their countries and their interests to collapse at the hands of terrorism, and their assistance was paid for and was not free."

And he stressed that the achievement of liberation, which was achieved yesterday by the will of the Iraqis and their sacrifices, should not lose its momentum and lose its direction, as everyone must continue the march today with the same vigor, clarity and determination, and apply the same rule of will in dealing with the state and its just causes, to ensure the integration of the state and the success of its project, which is the greater jihad.

Al-Abadi said: “Victory (i.e. victory) will not be achieved through failed and corrupt governance, but rather through good governance away from corruption, chaos, and the narrow interests of the self-interested political forces. Preserving the spirit and momentum of victory requires the determination of a just government that does not compromise with falsehood, failure, and corruption.

Our political and economic reality is And the sovereign today needs determination, determination and free will that are no less powerful than the great liberation battles that we fought.” Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=213813

Al-Sudani: We Renew Our Commitment To Our Government Program To Protect Public Freedoms

Baghdad - Mawazine News,Prime Minister Muhammad Shia' al-Sudani considered, on Saturday, that the government's measures in combating extremism, renouncing violence, ensuring peaceful coexistence, combating corruption and maintaining security, ensuring the provision of services to citizens, and reducing violations, represent a "true understanding" of the importance of human rights issues.

Al-Sudani said, in a statement received by Mawazine News, that "International Human Rights Day is an occasion in which we renew the commitment of the government of Iraq to what came in our government program in terms of protecting public freedoms and caring for human rights issues."

Al-Sudani reiterated the emphasis on "seeking to rehabilitate ways of adhering to the international agreements that Iraq has signed, dealing responsibly and transparently with this file as a fundamental and central issue, and making the necessary efforts to spread a culture of human rights in society."

And he continued, "As we remember and celebrate this day, we prepare it as a reminder of the status of human rights throughout the year, in every policy, work, or government direction, and at all levels, which represents our pursuit of the ultimate goal of preserving the dignity of the Iraqi person, and upholding its status in all aspects of life."

He added, "The application of human rights standards, since 2003 to the present day, has become a criterion for building institutions and adopting national legislation and policies, in line with the implementation of what is stated in the Universal Declaration of Human Rights and the relevant international norms and covenants."

He pointed out that "the Iraqi government's measures in combating extremism and renouncing violence, ensuring peaceful coexistence among all components of the people, combating corruption and maintaining security, ensuring the provision of services to citizens, and reducing violations, in their entirety, represent a true understanding of the importance of human rights issues."

He continued, "We also believe that the promotion and protection of human rights is the responsibility of everyone without exception, in an integrated process that includes all agencies, whether in the government, the judiciary, the parliament, or national institutions and civil society."

Al-Sudani concluded his statement by saying, "Today, Iraq has become a fertile and open arena for the work of civil society, for the work of activists and human rights defenders, and this is the result of change and the adoption of a true understanding of human rights standards." End 29/33.

https://www.mawazin.net/Details.aspx?jimare=213781

Al-Sudani: We Still Have A Long Way To Go To Cut Off All Sedition, Extremism And Hatred In Iraq

2022-12-10 05:39 Shafaq News/ The Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shia' al-Sudani considered, on Saturday, that Iraq still has a long work ahead of it "to cut off all strife and the grave of extremism's dreams and rhetoric." The hatred Al-Sudani's speech came during a speech on the sidelines of his attendance at the celebration held by the Joint Operations Command on the occasion of the fifth anniversary of the declaration of victory over ISIS in the country.

Al-Sudani said in the speech, "Our armed forces achieved this victory in all its forms, from the army, the popular and tribal crowd, the counter-terrorism apparatus, the federal police, the rapid response in the Ministry of Interior, the Peshmerga forces, and other intelligence agencies and support forces."

He added, "In that epic, the words of the supreme authority in Najaf were the light behind which the Iraqis walked. The fatwa of the competent jihad was the starting point for the liberation of cities and districts, one after the other."

Al-Sudani also mentioned, "Today we are proud of those who were on the battlefield, holding a weapon in their hands and extending others to save their family and people. We are also proud of those who left us and rose as a martyr from the leaders of victory and the great victory, commanders, commanders, officers, ranks and associates. There is no victory except by mentioning the martyrs of Iraq and the wounded of our armed forces."

And he went on to say, "We also remember the steadfastness of the displaced, and the sufferings of the forcibly displaced from their homes and the birthplaces of their fathers and grandfathers, their homeland that they were known for, and that they knew for thousands of years."

Al-Sudani added, "There is no victory except for the women of Iraq, and by recalling their honorable role in the liberation operations and supporting our fighting forces, I salute the women of Iraq, and the happy martyrs among them, on the anniversary of the great victory."

He noted that "it is right for us to remember the martyrs of the victimized victim, our youth in the Camp Speicher massacre, the defenseless, the innocent, the victims of hatred and cowardly murder. Just as we remember the heinous crime of the genocide of the Iraqi Yazidis, the survivors of the Iraqi Turkmen women and the Shabak, as we remember the sufferings of our people in the liberated areas, who They suffered what they suffered."

The Prime Minister continued by saying that "our national principles and faith rejecting terrorism and extremism made its demise inevitable and a consequence, so that Iraq would return to its thriving diversity, and for the Iraqi society to enjoy its people and its cultural richness."

He pointed out that "we still have a long work ahead of us to cut off all strife, and to bury the dreams of extremism and hate speech, and also a lot of work awaits us in reform, development and achieving a decent life."

Al-Sudani concluded his speech by saying, "The Iraqis who defeated terrorism are able to defeat corruption, which has become the number one enemy of the state and its entity." LINK

Deb Aspinwall 12/11/22 Deb Aspinwall 12/11/22

"Tidbits From TNT" Sunday 12-11-2022

TNT

CandyKisses: A new decrease in the exchange rate of the dollar against the Iraqi dinar in Baghdad.. today

The Independent/- The exchange rates of the dollar fell today, Sunday, in the local markets.

The selling price of the dollar was 150,100 dinars per 100 dollars, while the buying price of the dollar was 150,000 dinars per 100 dollars.

And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying a dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is (1470). dinars for every dollar.

TNT

CandyKisses: A new decrease in the exchange rate of the dollar against the Iraqi dinar in Baghdad.. today

The Independent/- The exchange rates of the dollar fell today, Sunday, in the local markets.

The selling price of the dollar was 150,100 dinars per 100 dollars, while the buying price of the dollar was 150,000 dinars per 100 dollars.

CandyKisses: Economist: There is no point in employing thousands without improving the economy

Baghdad / NINA / - The consultant in economic development and investment, Amer Al-Jawahiri, confirmed that there is no benefit in employing thousands without improving the economy.

He told the National Iraqi News Agency (NINA) that what is important for successive governments is to satisfy tens of thousands of graduates and others with job degrees without real benefit.

Al-Jawahiri added that the food security law relates to the current year only, and next year has its own budget for investment projects that are supposed to have a significant impact on the country's progress and improving the economy with additional revenues.

He explained that granting job degrees will satisfy a few tens of thousands, but it will not benefit millions in the future as long as governments want to satisfy these people by paying them money without providing jobs and improving the economy.

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The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars

The Iraqi Trade Bank announced today, Sunday, the recovery of one trillion and 500 billion dinars, while confirming that there are no loans for fake projects.

A statement of the bank, received by the Iraqi News Agency (INA), stated, "The Iraqi Trade Bank, TBI, represents the gateway to communication with the world for the implementation of documentary credits, the issuance of letters of guarantee and foreign transfers with financial institutions with the countries of the whole world, and that these banking operations are carried out for the government and private sectors."

He explained that he "enjoys great confidence from international banks through banking financial relations by opening accounts for the bank with those correspondent banks, which number 420 correspondent banks around the world," indicating that he "publishes, with full transparency, on its official website, all financial statements audited by One of the four major specialized companies around the world, in which all the financial details of the bank are clarified, including the amounts of lag loans.

Regarding what was published on one of the satellite channels, the statement explained, "The total amount of the bank's lag loans is inaccurate because there are financial settlements concluded with the bank's customers, and they are continuing to pay the loan amounts and their interests without delay."

He stressed, "There are no loans for fictitious projects, according to what has been mentioned, but there are a number of previous loans to customers of unknown place of residence, which were made during the era of the previous administrations of the bank, and who could not be notified at the addresses registered with the bank, which forced the administration to take legal measures against them by informing them."

Through the official legal means of the unknown place of residence through the official Iraqi newspapers, and we confirm that the Iraqi courts have issued decisions and rulings in absentia against them. He pointed out, "

And he continued, "The Iraqi Trade Bank began gradually, most recently in the last two years, by taking allocations for doubtful debts and withholding them from the bank's profits to face loans that are lagging on payment, in order to strengthen the financial position and to enhance the bank's sobriety due to the delay in repaying those loans," noting that "the personalities whose names are mentioned In the report published on the satellite channel, they are not reluctant and are committed to paying loan amounts and interest on an ongoing basis.

And he added, "The administration of the Iraqi Trade Bank, TBI, is keen to preserve public money and has been working in the last two years in cooperation with the Office of Financial Supervision, the Integrity Commission, and the Supreme Judicial Council on this matter, as nearly an amount (one trillion and five hundred billion Iraqi dinars) was collected through the filing of legal cases." The judiciary, seizure of movable and immovable funds, implementation of travel ban provisions against a number of reluctant customers to pay what they owe, conclusion of financial settlements with another number of reluctant customers, and taking additional guarantees to strengthen the position of public loans.
He pointed out, " link

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Tishwash: Saudi Aramco signs a deal with China's Sinopec

Sinopec signed an agreement with Saudi Aramco (TADAWUL:2222) to build a second-stage refining project with a capacity of 16 million tons per year.

NOPEC signed a framework agreement with Saudi Aramco for the construction of the second phase refining project with a capacity of 16 mtpa and 1.5 mtpa ethylene units in Juli, Fujian.

The project is expected to be completed and put into operation by the end of 2025, according to a press release from Sinopec.

The Chinese company also signed memorandums of understanding with Aramco and SABIC to build a facility for converting liquids into petrochemicals (TADAWUL: 2310) in Yanbu (TADAWUL: 3060) in the Kingdom of Saudi Arabia. refining in China.

Khaled Al-Rumayyan added, in an interview with the Chinese News Agency, that these conglomerates include providing sufficient supplies of oil and liquefied natural gas for oil refining, petrochemicals, and other industries.

The Aramco president said that there are many opportunities for Aramco to cooperate with China in new energy fields, such as carbon capture, hydrogen production, and non-metallic materials.

The cooperation is a new milestone achieved through the existing cooperation that shows mutual trust and recognition of all parties, and enhances their confidence to jointly deal with the energy transition, said Yu Baocai, president of Sinopec, in a statement.

Chinese President Xi Jinping said on Friday that his country will expand oil trade with the kingdom during his visit to the kingdom, which has strengthened ties between the world's second-largest economy and the world's largest supplier of crude link

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DINARRECAPS8 12/11/22 DINARRECAPS8 12/11/22

Sunday Morning Iraq Economic News Highlights 12-11-22

He Expected Its Rise To 1,600 Dinars.. A Researcher Identifies The Reasons For The Rise In The Dollar In Iraq

1,205 Sales of the Central Bank of Iraq witnessed a great turmoil in the past weeks, after the decline in the sale of the currency by a rate ranging between 40% and 50%, which led to a rise in the exchange rate to more than 1500 dinars per dollar, at a time when the central bank sells one dollar for 1460 dinars.

The economic researcher, Manar Al-Obaidi, explained in an explanation, the mechanism for converting the dollar into the dinar, in response to the reasons for the decline of the Iraqi dinar, and if it will witness a rise again.

Sunday Morning Iraq Economic News Highlights 12-11-22

He Expected Its Rise To 1,600 Dinars.. A Researcher Identifies The Reasons For The Rise In The Dollar In Iraq

Al-Obeidi said, “Iraq sells its oil in dollars and the dollar currency is owned by the United States of America, and through the Central Bank, Iraq also sells dollars to the local market in exchange for an Iraqi dinar owned by the Iraqi state, either through direct sales through exchange shops or through external transfers and credits for import purposes.”

The researcher added, "The production authorities are the destination to which the transferred money is supposed to go, in order to exchange the products that they sell in dollars, which are originally owned by the United States of America."

And Al-Obeidi indicated the American role in determining the parties to whom they want their currency to go and from the parties that do not want to own their currency because they own the dollar, and therefore they define criteria for the parties to which the money must be transferred by knowing the owner of the money and knowing the final beneficiary.

The researcher explained the reason for the existence of a middle station to which the money is transferred, and then these funds are distributed to various countries and companies, because there are no correspondent banks for Iraqi banks in many countries from which Iraq imports.

Al-Obeidi said, “During the last period, the United States of America set additional criteria for being the owner of the dollar, and refused to pass any transfer from Iraq unless it was sure that the amount goes directly to the beneficiaries, and that because many importers do not deal with direct parties in purchasing goods, it could not.” Banks pass their remittances on.”

This led, according to the researcher, to an increase in the demand for dollars for external transfers, meaning that the importer is looking for dollars outside Iraq, not inside it. Which led to a rise in the price of the dollar against the dinar, which is required externally, not internally.”

He added, "This demand, along with the lack of confidence in the Iraqi currency, led to the fear of the public, which led to the transfer of a lot of their money in Iraqi dinars to the dollar, which led to an increase in demand and a lack of supply, which contributed to adding another factor that contributed to the high price of the dollar."

Al-Obaidi justified all importers - and accordingly - their attempts to work on the behavior of banking outlets and to adopt banking dealings with various suppliers instead of adopting the middleman.

He said, "It may take a few months until the papers are rearranged and the mechanisms are arranged, and the exchange rate will return to its normal state, but we may witness a rise in the dollar against the dinar during the coming period."

And Al-Obeidi indicated that “the problem of lack of dollar sales will lead to a scarcity of the dinar at the central bank, which requires it to increase the cash currency issued to compensate for the demand for the dinar from the Iraqi government, which may lead to an increase in inflation rates.”

The researcher considered that the current dinar crisis is a temporary issue that may need three months or less, and he is optimistic that the exchange rate will return to its normal position once the transfer mechanisms are modified in accordance with the requirements of the US Treasury.

Al-Obaidi concluded by saying, stressing his optimism that “the financial situation of Iraq is good, and the banking sector is able to adjust its mechanisms, and there is a financial abundance that may be slightly affected by an expected drop in oil prices and the rise in the operating bill of the Iraqi government, and we will witness close rises of the dollar against the dinar during the coming period that may exceed the barrier of 1600 dinars, and it has We are witnessing a scarcity of some imported materials and a rise in their prices as a result of the inability of importers to import, but things will return to normal within the next three months or less.” https://takadum-news.com/archives/136138

A Slight Decrease In The Exchange Rates Of The Dollar In The Iraqi Markets Today

Economie 11-12-2022 | 02:37 3,315 views Alsumaria News – Economy Alsumaria News publishes today, Sunday, the exchange rates of the dollar in the local markets.

The selling price of the dollar was 150,100 dinars per 100 dollars, while the buying price of the dollar was 150,000 dinars per 100 dollars.

It is noteworthy that, on December 19, 2020, the Central Bank of Iraq officially announced the adjustment of the exchange rate of the US dollar to be 145 thousand dinars for every 100 dollars, according to the state’s general budget for the year 2021 approved by Parliament. LINK

Among Them Is Iraq..The Countries With The Highest Economic Growth During 2023

Sweeteners 11-12-2022 | 04:29 663 views Alsumaria News – Economy International reports expected that Iraq, the UAE and Qatar would lead the region as the best economic growth during the next year 2023.

According to a report prepared by intelligence unit The Economist Economic Group, entitled "The Middle East Prospects for 2023", has classified countries such asTurkey, And theIraq, and the Emirates andDiameterAmong the report's highest expectations is growth in its economy next year.

The report pointed out that the country of KJordanIt comes "within reassuring areas regarding inflation rates for the Middle East region."

While the report expected the inflation rate to reachJordanFor the next year 2023, it will reach a rate of 3.5 percent, as it is expected that the Kingdom’s economy will grow by 2.6 percent next year.

And while rating a country like Lebanon As the highest country in the region in terms of inflation, as it reached 167%, he pointed out that Kingdom Saudi Arabia It ranks first with the lowest inflation expectations among the economies of the region at a rate of 2.8%. LINK

The Delegation Of The Kurdistan Regional Government Arrives In Baghdad

Political | 09:24 - 10/12/2022 Baghdad - Mawazine News The delegation of the Kurdistan Regional Government arrived today, Saturday, in the capital, Baghdad.

The regional government stated in a statement, of which Mawazine News received a copy, that: "With the aim of continuing negotiations between the Kurdistan Regional Government and the federal government, the delegation representing the region arrived today in Baghdad."

And she indicated, "The delegation will complete its discussions with the government in Baghdad about the file of the general budget and oil." https://www.mawazin.net/Details.aspx?jimare=213829

Among Them Is The Budget.. A Kurdish Delegation Is Heading To Baghdad To Complete The Talks On Outstanding Issues

Political | 06:18 - 10/12/2022 Baghdad - Mawazine News A delegation from the Kurdistan Regional Government went this evening to the capital, Baghdad, to complete the talks on outstanding issues.

An informed source said in an interview with Mawazine News, "A delegation representing the regional government went to the capital, Baghdad, to complete the talks on outstanding issues between Erbil and Baghdad."

He added, "Among the issues that will be discussed is the region's share in the next year's budget, as well as the oil and gas law." https://www.mawazin.net/Details.aspx?jimare=213810

The Democrat Announces The Formation Of A Committee Bearing The Title (Article 140)

Posted On2022-12-11 By Sotaliraq On Saturday, the Kurdistan Democratic Party announced the formation of a committee between the center and the region, called {Article 140}.

The leader of the party, Wafaa Muhammad Karim, said, "It was agreed to define a committee called the Article 140 Committee between the center and the region, as well as an agreement to legislate the oil and gas law."

He added, “Visits to this committee will be every 10 days, once or twice a month.”

And he continued: “With regard to the region’s share in the budget, the deductions will be from the region’s share according to a deductive case, meaning that the region will not deliver sums of money, but will be deducted from its oil exports according to mechanisms.” LINK

Government Official: Iraq Plans To Boost Its Oil Exports By 150,000 Barrels

Posted On2022-12-11 By Sotaliraq Translated by: Hamed Ahmed A high-ranking government official stated that Iraq intends to raise the level of its oil export capacity by about 150,000 barrels from the south in the middle of next year, and talked about efforts to include some of the fields in maintenance procedures to avoid a severe shortage in production.

A report by the American (Platts) Energy Agency, translated by (Al-Mada), stated that "Iraq's representative to the Organization of Petroleum Exporting Countries confirmed that Iraq plans to abide by its low share of oil production according to the (OPEC Plus) agreement."

The report added, "This is done by reducing the quantities of crude oil supplied to refineries and increasing the quantities of imports of petroleum products."

He pointed out, "Iraq is at the same time conducting field maintenance work instead of the strict cuts in production from some oil fields."

Our oil goal or policy is clear. We adhere to the quota set by (OPEC Plus) by reducing production while we try to maintain export rates," said Iraq's representative to OPEC, Muhammad Saadoun. Saadoun continued, "Iraq is also reducing the quantities of oil sent to refineries, and if we have any shortage of oil products derivatives, we increase the quantities of imports."

The report stressed that “the oil ministers of OPEC Plus countries had agreed during their meeting on the fourth of this month to maintain production rates and adhere to the ceiling of reducing production at a rate of 2 million barrels per day, which was implemented last November and will continue until end of 2023.” And he expected, "Iraq will abide by its crude oil production rate of 4.431 million barrels per day, from November to the end of 2023, according to the (OPEC Plus) agreement."

The report quotes information from the state oil marketing company, (SOMO), confirming that Iraq's oil production, according to the agreed reduction in (OPEC Plus), witnessed a decrease of 4.8% of production during the month of November, to reach 4.430 million barrels per day.

And he talked about, “The decrease in Iraq’s production share to 4.431 million barrels per day, in November, compared to the average production of the month before October, which was about 4.651 million barrels per day.”

He explained, "The latest field survey conducted by (Platts Agency) on November 7 on the movement of the global oil market showed that Iraq pumped in the month of October 4.58 million barrels per day of crude oil, which was less than its share of 4.651 million barrels per day."

And the report indicated, "The Iraqi Prime Minister, Muhammad Shia' al-Sudani, had said on November 15 that Iraq was seeking to obtain a higher production share in OPEC Plus to increase its oil imports."

While Oil Minister Hayan Abdul-Ghani was quoted as confirming, at a later time, the country’s commitment to abide by the current reduction of OPEC’s share of production, which amounts to two million barrels per day.

And the report continued, that “Iraq tried hard to adhere to its production quota when the (OPEC Plus) group reduced production quotas for the year 2020-2021 during the height of the Corona pandemic infections and the decrease in oil demand, which forced the group to make a historic reduction in production that reached 9.7 million barrels per day, as of Mid 2020". And the report added, “Saadoun, who also holds the position of deputy director of SOMO for Oil and Gas Affairs, said that Iraq reduced its refinery production capacity in November by 15 to 20% and will continue on the same approach in December and January.”

Saadoun pointed out that "Iraq sees, in general, a decrease in the domestic consumption of oil products in the winter compared to the hot summer months that require the consumption of large quantities of diesel to operate power stations."

And Saadoun goes on, “Iraq plans to introduce a section of the oil fields into maintenance procedures to avoid a severe shortage in production from some oil reserves, for the purpose of adhering to the current (OPEC) share of reducing production.”

Saadoun pointed out, "The possibility of controlling this matter through production from specific fields, and this depends on the quality of the crude produced, whether it is light, medium or heavy." Saadoun stressed, “Field maintenance work depends on the policy of the Ministry of Oil and what product is required for local consumption or export, and that also depends on market needs.”

Saadoun noted, "It is expected that Iraq will enhance its oil export capacity from the south at a rate of 100,000 to 150,000 additional barrels per day, to reach 3.45 million barrels per day."

Saadoun went on to say, "This will be done in the second half of 2023 through the maintenance of loading docks, which currently number four." For: The American Platts Agency LINK

Deb Aspinwall 12/10/22 Deb Aspinwall 12/10/22

KTFA Members "Vietnam and Iraq News" Saturday 12-10-2022

KTFA:

Clare: A deputy calls on the central bank and the government to act to stop speculation in dollar prices

12/10/2022

Today, Saturday, a member of the Labor and Social Affairs Committee, Hussein Arab, called on the Central Bank and the government to take action to stop speculation in dollar prices.

Arabs told {Euphrates News}, "Speculation with the exchange rates of the dollar and its rise to this level is unacceptable and undermines the citizen's confidence in the economic process or the country's monetary and financial policy."

He added, "We believe that this issue is orchestrated, and we call on the Central Bank and the government to move quickly to find a solution, as they are concerned and executive," noting that "the duty of parliament is to monitor and legislate."

Arabs pointed out that "solving this issue is not difficult, and that any decision helps the process of stabilizing the exchange rate, except for the traditional methods of currency auction." LINK

KTFA:

Clare: A deputy calls on the central bank and the government to act to stop speculation in dollar prices

12/10/2022

Today, Saturday, a member of the Labor and Social Affairs Committee, Hussein Arab, called on the Central Bank and the government to take action to stop speculation in dollar prices.

Arabs pointed out that "solving this issue is not difficult, and that any decision helps the process of stabilizing the exchange rate, except for the traditional methods of currency auction." LINK

Clare: The Democrat announces the formation of a committee titled {Article 140}

12/10/2022

The Kurdistan Democratic Party announced today, Saturday, the formation of a committee between the center and the region, bearing the name {Article 140}.

The leader of the party, Wafaa Muhammad Karim, told the Euphrates News Agency that, "It was agreed to define a committee called the Article 140 Committee between the center and the region, as well as an agreement to legislate the oil and gas law."

He added, "Visits to this committee will be every 10 days, once or twice a month."

And he continued: "With regard to the region's share in the budget, the deductions will be from the region's share according to a deductive case, meaning that the region will not deliver sums of money, but will be deducted from its oil exports according to mechanisms." LINK

4Cash: Thanks, Clare, for this article IMO sounds like this thing is settled and they need to make an announcement!!!

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Henig: From Riyadh .. Al-Sudani: We reject the aggression on our lands and everyone should respect the sovereignty of Iraq / more

Baghdad / NINA / The Prime Minister, Muhammad Al-Sudani, stressed the necessity of not allowing Iraq to be a headquarters or a passage for aggression against neighboring countries, and said "we reject at the same time the aggression on our lands, and everyone must respect the sovereignty of Iraq."

Al-Sudani added in a speech he delivered during the Arab-Chinese summit held in Riyadh: I would like to commend the importance of holding this summit, which comes within a deep understanding of the international arena, so that we can adopt a balanced and complementary foreign policy that serves the interests of our peoples and countries and promotes stability and prosperity.

He stressed that Iraq supports all efforts aimed at strengthening the steady relations of cooperation and friendship between the Arab countries and China.

He pointed out that this summit is an opportunity for economic integration in our region by strengthening cooperation with China, and benefiting from Chinese expertise in various fields, without forgetting the experiences of combating poverty and epidemics, developing saltwater agriculture, and efforts to combat desertification.

He added, Iraq has long-standing relations with China that have gained a growing amount of interest and development over the past years at the governmental and popular levels.

He stressed that Iraq is looking forward to strengthening partnership within the Belt and Road Initiative, and within the fields of investment, energy and infrastructure projects.

He indicated that "our steps in the next stage will focus on a number of areas, including:

First: Developing the economy and providing services, and I invite you today to open up the economy to Iraq, as it represents a promising environment for investment, and has important human and material success ingredients.

Second: Not allowing Iraq to be a base or passage for aggression against neighboring countries. At the same time, we reject aggression on our lands, and everyone must respect Iraq's sovereignty.

Al-Sudani pointed out that our country was subjected to a brutal terrorist attack, which threatened the entire world. However, the Iraqis stood in self-defense, the region and the world, and made great sacrifices and dear blood, and victory was achieved. We know that the countries of the region and the world will not forget that honorable battle of ours, and will stand with us in our renaissance with gratitude and loyalty.

Third: Our region is the heart of the world and the link between the continents of Asia, Africa and Europe. It occupies a distinguished strategic position in the field of energy. Iraq is the center of this region historically and culturally, and among the most important oil-exporting countries in the world.

Al-Sudani stressed Iraq's keenness on the stability of the global economic system through our role as a founding member of OPEC, and we aim with our partners to achieve stability in oil production and prices in a way that achieves the balanced interests of producers and consumers.

Fourth: We affirm Iraq's steadfast and principled commitment, its standing by the Palestinian people, and its defense of its right to its national state, with Al-Quds Al-Sharif as its capital.

He stressed that our region represents an increasing weight in a changing world, and together we must shape our future in it, in a way that achieves our positive openness to all friends on the one hand, and our insistence on imposing respect for our values and privacy on the other hand.

He continued: We extend the hand of brotherhood to our brothers, neighbors, and friends, and we cherish our open relations with the countries of the West and the East on the basis of common interests. LINK

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Henig: Chinese President: We will continue to support the reconstruction of Iraq

2022-12-09 00:03

Shafaq News/ Chinese President Xi Jinping said today, Friday, that China will continue to support the economic reconstruction of Iraq and help it restore industries, improve people's livelihood and achieve sustainable development.

President Xi made the remarks during his talks with Iraqi Prime Minister Mohammed Shia al-Sudani, according to the Chinese news agency Xinhua.

Chinese President Xi Jinping - who began yesterday, Wednesday, a visit to Saudi Arabia - is participating in 3 Arab and Gulf summits, in the presence of more than 30 state leaders and international organizations, and Beijing said that it represents its largest diplomatic initiative in the Arab world.

The first summit in the program of the Chinese president's visit to Riyadh will be "Saudi-Chinese", and official Saudi media said that the Chinese delegation is expected to sign agreements with Riyadh worth 30 billion dollars during it.

The visit program will also include the Chinese president's attendance at the "Riyadh Gulf-China Summit for Cooperation and Development", in which the leaders of the Gulf Cooperation Council countries will participate. LINK

Paulette: President Xi doesn't make these types of announcements unless he has something to back them up,IMO. Could there be a common denominator that make them both happy?

KTFA:

Henig: Dollar retreats to 3-month low against dong

By Dat Nguyen December 9, 2022 | 01:27 am

The U.S. dollar plunged against the Vietnamese dong at banks on Friday to the lowest since early September, continuing its depreciation since last week.

Vietcombank sold it at VND23,640, down 1% from Thursday.

TPBank let the greenback slide by 0.94% to VND23,800, while the rate at Techcombank was 0.82% lower at VND23,730.

The State Bank of Vietnam let its reference rate dropped by 0.008% to VND23,657.

Unofficial exchange points sold the dollar at VND24,231, down 0.77%.

The dollar has gained over the dong by 3.14% since the beginning of the year.

The U.S. Dollar Index, which measures the greenback’s strength against major currencies, however around 104 points, lowest since June.

The dollar is retreating as worries over a slowdown in the U.S. mounted, with traders on guard ahead of a slew of central bank meetings next week, with the Federal Reserve taking centre stage, Reuters reported. LINK

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Henig: US to help Vietnamese businesses trade globally

By Tat Dat December 9, 2022

Containers being transported at Cat Lai Terminal in Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen

The U.S. will help smaller Vietnamese businesses join global markets, said a U.S. trade official who already views the Southeast Asian nation as an integral part of his country’s supply chain.

U.S. Consulate General economic section chief Alexander Tatsis told a forum in HCMC Thursday that Vietnam continues to play an increasingly important role in international commerce by supplying the U.S. with a spectrum of valuable products, from semiconductors used to manufacture smartphones and cars, to solar panels bolstering the clean energy revolution.

At the same time, Vietnam imports computers, wood, cotton and animal feed from the U.S., he said.

Over the first 11 months of 2022, the U.S. was Vietnam's largest export market, with an estimated turnover of %101.5 billion, up 18% year-on-year, according to the General Statistics Office.

This two-way trade helps Vietnam develop its domestic economy while bolstering exports to markets around the world, said Tatsis, noting that the U.S. wants to invest in helping Vietnam strengthen its long-term presence in the global supply chain.

He added that improving the adaptability along supply chains is a top priority of the Biden-Harris Administration.

The U.S. will facilitate trade and support the enhancement of the competitiveness of the private sector in Vietnam, especially among small and medium enterprises, he said.

U.S. agencies will also help Vietnam's small and medium enterprises improve production capacity, access to financial resources, and digital transitioning.

Tatsis said these efforts will help businesses better participate in the global supply chain for the mutual benefit of the two countries.

Over the last several years, Vietnam has been one of the biggest beneficiaries of the supply chain shift away from China. But this shift has also put pressure on Vietnam's infrastructure and customs operations.

To remedy this, the USAID Trade Facilitation Program, a $21-million five-year project, is working with Vietnam Customs to adjust border clearance procedures and reduce congestion at major ports, including Cat Lai Port in Ho Chi Minh City, the largest container shipping hub in Vietnam. LINK