Iraq Economic News and Points to Ponder Saturday AM 9-23-23

Iraq Economic News and Points to Ponder Saturday AM 9-23-23

Parliament Expected A Conditional Fall For The Dollar To 1,450 Dinars In Iraqi Markets

2023-09-23 02:31  Shafaq News/ Member of Parliamentary Finance, Moin Al-Kadhimi, expected on Saturday that dollar prices in the parallel market would fall to 1,450 dinars per dollar in the coming months, provided that government measures packages are implemented, while he ruled out that the decline would come close to the official price set by the Central Bank of Iraq.

The exchange rates of the US dollar continue to rise against the Iraqi dinar, in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, for several days.

Al-Kadhimi told Shafaq News Agency, “The price of the dollar will reach 1,450 dinars if the Central Bank’s procedures are implemented to facilitate transfers, arrange tax procedures, and pay them directly without referring to the Tax Directorate, which will provide a reserve and liquidity of dollars in the black markets.”

The dollar is likely to fall to the aforementioned price during the next three months if the scheduled and imposed government measures are successfully implemented.

In response to other parliamentary expectations that the dollar exchange rate would fall to 1,320 dinars, Al-Kadhimi ruled that out, and considered it a far-fetched matter in light of the current financial conditions, even though the government secures the needs of the markets and imported goods at a rate of 80% of its needs through the currency sale window at a price of 1,320 dinars.

Almost since the beginning of this year, the Central Bank of Iraq launched a working mechanism in an electronic platform and the international financial transfer system “SWIFT”, but this did not help the dollar exchange rates stabilize in Iraq, despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets. ).

In its August 2023 issue, the administration of the Central Bank of Iraq considered the exchange rate of the dollar against the dinar being traded in the markets by speculators “illegitimate,” calling for the need for all parties to come together to achieve stability in the exchange rate, especially since Iraq has Sufficient foreign reserves to meet legitimate needs.

On Wednesday, July 19, the US Treasury Department imposed sanctions on 14 Iraqi banks in a campaign aimed at preventing the dollar from reaching Iran.

As a result, the Central Bank of Iraq decided to prevent the sanctioned banks from dealing in dollars, pointing out that the sanctions were imposed as a result of auditing transfers dating back to last year (2022), before the implementation of the electronic platform, and before the formation of the current government as well.  LINK

The Price Of The Dollar Fell Against The Dinar In The Markets Of Baghdad And Erbil

2023-09-23 03:03  Shafaq News/ Dollar prices decreased today, Saturday, in Baghdad markets and in Erbil, the capital of the Kurdistan Region.

Shafaq News correspondent said that dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 155,200 dinars against 100 dollars, while prices last Thursday were 156,000 dinars against 100 dollars.

Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 156,250 Iraqi dinars, while the purchasing price reached 154,250 dinars for every 100 dollars.

As for Erbil, the stock market does not trade on official holidays, but the dollar recorded in banking shops is the selling price of 155,100 dinars against the dollar, and the purchase price of 155,000 dinars against 100 dollars.  LINK

Freezing The Budget... What Is The Relationship Between Political Money And Elections In Its Delayed Implementation?

Posted On2023-09-23 By Sotaliraq    Four months have passed since the adoption of the Federal General Budget Law, but it has not been implemented yet, for reasons that specialists attributed to the delay that occurred in legislating the law and then in issuing implementation instructions, while others attributed it to the fear that its funds would be exploited in the local elections scheduled for December 18. / Next December.

For the first time in its history, Iraq approved a three-year financial budget in a single draft law, which Parliament voted on last June. The government defended the step by saying that it aims to develop plans for important projects in the country, in addition to avoiding the problem of delaying the approval of financial budgets every year for several months.

The budget for the current year and the next two years, according to the budget law, amounted to $153 billion, with an expected deficit of $48 billion, and the oil price was approved at $70 per barrel, as Iraqi oil exports constitute more than 96% of Iraq’s financial imports.

After several months have passed since its approval date, the tripartite budget allocations have not been launched on the ground yet, which has opened the door to speculation and questions about the reasons behind the delay in implementing its provisions.

What is the reason for the delay?

In this context, a member of the Finance Committee in the Iraqi Parliament, Nermin Marouf, said, “The budget law was approved last June, and until instructions for its implementation were issued, more than half the year had passed, so the failure to implement the budget is due to the delay in enacting the law, and Then in issuing instructions to implement them by the Ministries of Finance and Planning.”

Marouf explained, “The government continued to spend 1/12 of last year’s budget, so spending was limited to actual current spending and most of it was for salaries.”[/size]

She explained that “the government needs to spend on investment projects in the current year, so that the ministries and governorates send their plans for investment projects, as spending on investment projects is not the same as current expenditures, but rather includes several stages of preparing the plans, approving them, and approving the projects in the Ministry of Planning.” And then announce it until the project is approved.”

She added, “These projects are financed in installments and according to completion rates, and these take several months, until the investment budget is disbursed on the ground, and this is the first obstacle to not implementing the part related to the investment budget in the current budget.”[/size]

Budget funds

Regarding the fate of the budget funds as the end of the year approaches, Marouf explained, “The funds allocated to the investment budget are transferred to the next year allocated to the projects. These will not end, but rather the spending on these projects will continue until the end of the fiscal year.”

She continued: “As for the unspent funds of the current budget, at the end of the year they become surplus funds from last year, and are rolled over to the next year, and added to the funds that will be allocated from next year’s budget, and this is according to the budget law and the financial management law.”

A member of the Finance Committee indicated, “Before the end of the current year, the Ministry of Finance, through the Council of Ministers, is supposed to send new tables to estimate next year’s revenues and expenditures, but with the same texts as the current law.”

Marouf pointed out that “the texts contained in the law, which are 78 legal articles, will not be changed, but only the estimated spending and revenue schedules for the coming year, so they must be sent again to the House of Representatives for approval, so that the government will be able to implement the budget for the coming year.” “.

Electoral exploitation

For his part, the Iraqi politician, Halim Salman, stated that “the Prime Minister - according to the leaks - put a ‘freeze’ on the flow of tripartite budget funds, for several reasons, including fear that the budget funds would be used to finance the provincial council elections.”

Salman added, “This explains the lack of confidence of the government, senior management, and the Ministry of Finance in political parties and local governments that could exploit budget funds for the benefit of the elections.”

He pointed out that “these reasons have not been officially announced, but it seems that this matter is true, and despite the approval of the budget and the issuance of its instructions, there is still a delay in the process of releasing the funds, which makes it likely that what some politicians have said is correct.”

Financial losses

[size=45]In turn, the economic expert, Jalil Al-Lami, saw that “the Sudanese government is now working to collect funds for the emergency support law that was approved during the time of the previous government, in order to finance some projects that have completion rates, since the remaining period of the year is not enough for the government to announce the projects.” And implementing new ones, or completing old projects, as they have been subject to extinction and a change in estimated cost prices.”

Al-Lami confirmed to the agency that “the delay in sending budget allocations will lead to the cancellation of contracts with international and local companies to develop new cities and governorate infrastructure, which will cost Iraq many losses due to the penal conditions that were placed in the contracts with those companies.”

He concluded by saying that “the budget is the natural financial regulator for the functioning of institutions and departments at all civil and military levels, and for the country to avoid randomness in spending at a rate of 12/1, so there is no justification for delaying the implementation of the budget items.”  LINK

Points to Ponder on Dreaming and Believing:

 Expect your every need to be met, Expect the answer to every problem, Expect abundance on every level, Expect to grow spiritually - Ellen Caddy - The Dawn of Change 

Expect the best: Convert problems into opportunities; Be dissatisfied with the status quo: Focus on where you want to go, instead of where you're coming from; and most importantly, Decide to be happy, knowing it's an attitude, a habit gained from daily practice, and not a result or payoff - Dennis Waitley - The Winners Edge

When you are inspired by some great purpose - some extraordinary project - all your thoughts break their bonds - your mind transcends limitations - your consciousness expands in every direction -- and you find yourself in a new, great and wonderful world -- Dormant forces, faculties and talents become alive, and you discover yourself to be a greater person by far than you ever dreamed yourself to be - Patanjali

Trials are but lessons that you failed to learn presented once again - so where you made a faulty choice before you can now make a better one - and thus escape all pain that what you chose before has brought to you - A Course in Miracles

Your pain is the breaking of the shell that encloses your understanding - Kahlil Gibran

Take heart - truth and happiness will get you in the end -- You can't lose in this game - have fun -- It goes on too long to be taken seriously "all" the time -- John & Lyn St Clair Thomas - Eyes of the Beholder

MilitiaMan: IRAQ - NATURAL PLACE IN INTERNATIONAL COMMUNITY - EXCHANGE RATE TO COME

IRAQ - NATURAL PLACE IN INTERNATIONAL COMMUNITY - EXCHANGE RATE TO COME

MilitiaMan and Crew:  9-22-2023

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=f6k8ExEuhsU

Goldilocks' Comments and Global Economic News for September 22nd

Goldilocks' Comments and Global Economic News for September 22nd

Good afternoon Dinar Recaps,

"FIX’s new workflow and messaging standards will drive significant improvements to post-trade operational inefficiencies by closing the existing communication gap and enabling near real-time updates on securities settlement status for end clients."

The SEC has given the FedNow messaging service to a company same-day trades the green light to move forward.

Over 70 countries including the US are already utilizing the ISO20022 messaging system. The FedNow System is the payment system for the United States. The FedNow service is currently optional for the bank system to utilize in the US.

Both messaging systems will be allowed for Cross Border International Trading. These messaging services help in clarifying trades, especially in the foreign currency markets of Forex.

The entities currently using ISO20022 are the following: Austria, NACHA/IFX Forum, Canada, Netherlands, China, nexo standards, Denmark, Singapore, Finland, South Africa, France, Sweden, Germany, SWIFT, Japan, Switzerland, Korea, United States, MasterCard, and VISA.

© Goldilocks

Global Custodian Link

https://www.iso20022.org/cards-seg-member-list

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"Beginning October 1, European Union importers will be required to report on the amount of carbon emissions embedded in their products. Beginning in January 2026, they will have to begin paying for that carbon."

This program is intended to reduce carbon emissions and move countries and people over to electronic vehicles. If you choose to keep carbon-emission fossil fuel vehicles, it will have a cost.
© Goldilocks

247 Wall St Link 1
247 Wall St Link 2
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When two countries peg their currencies together, it increases confidence, promotes trade volumes, and it boosts the economy.

This is exactly what the United States and Iraq are currently discussing. Money flow between these two countries will increase demand and value for one another's currencies.

© Goldilocks .

WordPress Link
Investopedia Link
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Hedge fund demand for US Treasuries seen rising amid higher bond supply

Reuters Link

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Asset servicing latest news | DTCC releases a new T+1 scorecard for CTM community

Asset Servicing Times Link

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Beyond the Hype: What Will Happen to Ripple (XRP) Price on September 29th?  

CaptainAltcoin Link

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Cross-Border Payment Service Market 2023 Trends with Analysis on Key Players Western, Union, Paypal, Google, Checout, Worldpay, Ecopayz, Skill, MoneyGram, Gspay, Paysafecard, Payoneer, Eway, Paymate

Rouge Fox Link

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Are you noticing all of these Quantum Technologies joining together their digital networks?

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Demand for Existing Homes Falters Further. Price Cuts, Days on Market, New Listings Rise. Prices Languish below 2022 Peak 

Wolf Street Link

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I have spoken about this before in this room, but I want to share with you the concept one more time.

When you see gold and the dollar decouple from one another and begin rising in value together, it will be because of uncontrollable inflation.

There will be a point of which the dollar will be unaffordable for trade. At that time, the movement into a monetary system backed by real values supported by gold will come into play.

Watch the water.

© Goldilocks

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Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Friday Afternoon 9-22-23

Iraq Economic News and Points to Ponder Friday Afternoon  9-22-23

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: The Relationship Between Iraq And The United States Cannot Remain Limited To The Security Aspect / Expanded

Friday 22, September 2023 11:09 | Economical Number of readings: 413  Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed that the relationship between Iraq and the United States cannot remain limited to the security aspect.

Al-Sudani said in a speech during a meeting with members of the American Chamber of Commerce, in the presence of a number of businessmen, investors and representatives of major American companies: “The Ministry of Commerce, through the Commercial Attaché in Washington and with the US Trade Representative Office, is working to hold meetings for the third session of the Trade and Investment Framework Agreement.” , in the first quarter of 2024.

He explained during the meeting that took place yesterday evening, Thursday (Baghdad time), according to a statement from his media office, that “the function of this agreement is to identify the challenges facing trade and investment relations between Iraq and the United States,” calling on all American companies to present what they have. Among the challenges facing its presence and work in Iraq: To develop solutions for it.

Al-Sudani appreciated the efforts of the Vice President of the American Chamber of Commerce, Steve Lutes, in arranging this meeting to inform investors about the business environment in Iraq.

He stated, “Iraq is a fertile land for investment in many important sectors, and there are natural resources that have not been invested yet, and the time has come to invest them.” In a way that achieves prosperity for the Iraqi people and contributes to strengthening the strategic relationship with the United States.”

He added: “Our government invests revenues correctly to activate important economic sectors other than oil, as it is not possible to continue to rely on oil to strengthen the budget and cover obligations, as was the case throughout the period.” He

stressed that the wrong path of wasting burned gas will stop within 2-3 years, after the completion of the gas projects that began with Total and the Emirati and Chinese companies in the fifth round.

He said: “We announced 11 fields and exploration blocks in the governorates of Anbar, Nineveh, and Najaf, which include natural gas that will be invested for the first time in the history of Iraq, adding that economic reform is a priority, and it cannot be implemented without the presence of an effective and capable private sector that is a partner with the government.”

As he said, “We focused on providing a favorable business environment for foreign companies in general, and American companies in particular, by virtue of the capabilities they possess, and also within the path of the vision for the partnership between Iraq and the United States.” He continued: “The business environment in Iraq requires a great effort to

reduce From bureaucracy, we have the decision and the will to stop corruption through legal procedures, and companies cannot be made vulnerable to blackmail or red tape. Every project and file related to a company will be cared for and followed up by us personally, and we will work to overcome all obstacles it faces.”

draft The economic reform law addresses gaps in several laws, adding that we have a draft system to regulate electronic commerce. The government is also committed to protecting intellectual property, and we approved a draft law that was sent to the House of Representatives to vote on.”

He continued, “We are working diligently on the draft electronic payment law, and we have made great strides in financial and banking reform, through our relationship with the Federal Reserve and the US Treasury, and today we have clear and transparent trade that is subject to global compliance standards in financial transfers.”

He stated, “We supported the private sector in the budget law, through the Iraq Fund for Development, which has a capital of 750 million dollars during 2023, and in 2024 we will add an additional amount, and we are currently making understandings with Arab and international investment funds, specifically with the Saudi Investment Bank, where we have partnership in this aspect.

He pointed out that the government will provide sovereign guarantees in the budget law to establish industrial and agricultural projects in Iraq, adding that we have understandings with the German Hermes Foundation and the Italian Sochet Foundation, and they are prepared to provide production lines for important laboratories and factories in the industrial sector in exchange for 15% of Iraqi businessmen and 85 percent. % provided by the government as a sovereign guarantee.

He also pointed out that a delegation of Iraqi businessmen toured Germany and Italy and identified factories, and is currently in the process of reaching understandings to implement these projects that were chosen according to market requirements.

He stressed: We want to achieve a real shift in health services, and we have a health insurance law, and we have a new philosophy that represents a transitional stage for implementing this law, through joint operation with companies specialized in providing health services, adding and presenting 6 hospitals and we hope for the presence of American companies specialized in providing medical and therapeutic services in Operating these hospitals.”

He stated that the size of the pharmaceutical market in Iraq amounts to approximately 3 billion dollars annually, with national production representing only 10%, and the rest is imported, indicating that the Council of Ministers issued a package of decisions to support drug producers, and today there are more than 245 requests. To create production lines for the pharmaceutical industry.

He stated that we are moving strongly towards using modern irrigation techniques to confront water scarcity, and there are areas suitable for agriculture and an attractive environment, but they need specialized technologies and companies to develop this sector.

with Emirati, Chinese, and Iraqi companies to establish solar energy stations, and we have concluded a contract with a company.” Total to generate 1,000 megawatts of solar energy.”/End2

https://ninanews.com/Website/News/Details?key=1079165

Al-Sudani Talks About Projects That “Will Change The Shape Of Iraq” With A New And Diversified Economic Face

Money  and business   Economy News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani confirmed that the needs of the Iraqis are increasing with their population growth and that oil revenues cannot cover them. While he indicated that his government has a vision for economic reform, he considered that the development road project, Al-Faw port and the rest of the projects associated with it “will change the shape of Iraq with a new and diversified economic face.” ".

Below are the highlights of Al-Sudani’s speech during the dialogue session he held at the US Council on Foreign Relations, on the sidelines of his visit to New York, according to a statement from his media office:

Reforming the economic reality is one of the important challenges that requires diversifying the economy and not adopting economic unilateralism

The needs of Iraqis are increasing with their population growth and cannot be covered by oil revenues

We have a vision for economic reform through which we work to invest wasted resources and direct them to vital sectors, such as agriculture, industry, trade and tourism.

-The development road project, Al-Faw port, and other related projects will change the shape of Iraq with a new and diversified economic face

The importance of investing in associated gas is to address our environmental problems as well, and we have signed agreements to produce electricity from solar energy up to (2500) megawatts.

-The theft of the century involved leaders from the highest decision-making centers in Iraq, and senior officials from the previous government were involved, and arrest warrants were issued against them.

-Some of those accused of stealing the century are in the United States and hold American and British citizenship, and we are awaiting the assistance of these countries in retrieving them.

-The Iraqis are establishing their relations with countries based on their response in handing over those wanted for the theft of the century, and our government will continue to pursue them and subject them to justice, regardless of their positions.

-More than 3 trillion dinars were stolen in full view of the previous government, with its security services at the highest levels, and the largest percentage of this money went to banks outside Iraq, and we are working to recover the remainder inside Iraq.

-Iraq has many religious and historical tourist sites, and many delegations began to come to Iraq after the Pope’s visit, and the tourism sector falls within the government’s interests.

We explained to representatives of American companies that we provide all the requirements for a safe environment for investment in Iraq

There is no political crisis between Baghdad and the Iraqi Kurdistan region, but rather financial legal problems that have been overcome through dialogue and understanding, and the region is a key actor in the political process, and an important part of our economic projects that benefit the Iraqis.

We are currently studying a strategic water management project, the first of its kind in the history of Iraq, for optimal use of it

The water issue represents an existential challenge in Iraq, and the crisis coincided with the projects of upstream countries that affected our water shares, and there is intense diplomatic work with neighboring countries.

-We are working on a Gulf water desalination project to provide water to Basra and the rest of the southern governorates   Views 64 09/22/2023 - https://economy-news.net/content.php?id=36547

Oil Is Heading For Its First Weekly Loss In About A Month

Energy  Economy News – Baghdad  Oil prices are heading to record a weekly decline for the first time in about a month, despite the rise in prices in the last trading sessions, Friday, as fears that a Russian embargo on fuel exports could lead to a reduction in global oil supplies outweighed concerns that another possible increase in... US interest rates may negatively affect fuel demand.

Brent crude futures rose 21 cents, or 0.2 percent, to $93.51 per barrel by 15:16 GMT, while US West Texas Intermediate crude futures increased by 0.60 percent to $90.24.

For the first time in four weeks, the two benchmark crude oil prices are heading for a slight weekly decline after rising by more than ten percent over the previous three weeks, amid concerns about a shortage of global supplies as the Organization of the Petroleum Exporting Countries and its allies in the alliance known as OPEC+ continue production cuts.

Views 32 09/22/2023 - https://economy-news.net/content.php?id=36548

Iraq Ranks Fourth In The Arab World In Gold Reserves

Money  and business  Economy News – Baghdad  The World Gold Council's report for the month of September showed that the gold reserves of the Arab countries amounted to 1,515.1 tons, while the gold reserves of the countries of the world combined reached 35,664.5 tons.

According to the report, which shows what central banks own in gold, 5 Arab countries account for the lion’s share (about 69%) of the total Arab countries’ reserves of the yellow metal.

According to the report, the countries are: Saudi Arabia (323.1 tons), Lebanon (286.8 tons), Algeria (173.6 tons), Iraq (132.6 tons), and Egypt (125.9 tons).

Globally, the United States (8133.5 tons) topped the world with gold reserves, followed in second place by Germany (3352.6 tons), then Italy (2451.8 tons), then France (2436.9 tons), followed by Russia with reserves amounting to 2329.6 tons.

The past years have witnessed a desire by central banks around the world to buy the precious metal in light of economic fluctuations and high inflation rates.

201 views  Added 09/21/2023   https://economy-news.net/content.php?id=36544

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

https://www.bondladyscorner.com/

Points to Ponder From "Daily Reflections For Highly Effective People" By Stephen Covey:

You can decide within yourself how circumstances will affect you -- Between what happens to you or the stimulus - and your response to it -- is your FREEDOM or POWER to CHOOSE that response -- p. 69

The word proactive means more than merely taking initiative -- It means that as human beings - we are responsible for our own lives -- Our behavior is a function of our decisions - not our conditions -- We can subordinate feelings to values -- We have the initiative and the responsibility to make things happen -- p. 71

If you're proactive -- you don't have to wait for circumstances or other people to create perspective expanding experiences -- You can consciously create your own -- p. 131 

Transcription of Prime Minister Sudani's Speech at the UN

TNT:

GodsGrace2:  Mohammed Shia' Al Sudani Prime Minister UNGA Speech 09/22/23 - Written Transcript

****NOTICE - THIS IS AN AI TRANSCRIPTION - MOST OF THE SPEECH WILL BE WORD FOR WORD - IF THERE IS A WORD OFF - JUST KEEP GOING AS THE MAJORITY WAS TRANSLATED CORRECTLY ****

Mr. President of the United Nations General Assembly, Your Excellency, the Secretary General of the United Nations, Ladies and gentlement May God and peace blessings be upon you all.

 First I would like and on behalf of the government and people of Iraq to offer our sincere condolences and our solidarity to the Kingdom of Morocco and the state of Libya, government and people over the catastrophe of the earthquake in Morocco and the floods in Libya, and we ask God Almighty to grant peace to the families of the deceased and the quick recovery to the injured. Mr. President, I come to you today bearing the salutations of the Iraqi people.

Iraq was among the 50 states that founded the supported organization 78 years ago. Iraq has always and to this very day, believed in the general principles that the United Nations was founded upon. And it's a tribute to all of us programs, because it believes that our only path is the path of human brotherhood and solidarity. To guarantee the safe existence of the world as a whole.

 Ladies and gentlemen, the spirit of consensus has prevailed in the new Iraq and we have overcome some difficult days. We now have a government that enjoys a widespread political coalition that covers all aspects and sheets of the Iraqi society.

This government has adopted a comprehensive and ambitious reforms programs to correct our path and to regain trust in the political system and to offer a dignified life to our citizens and to secure their future and build a capable and strong Iraq. On this path, we have adopted a program with crucial parties that reflect issues that must be implemented without delay, and which related to the basic needs of our people.

These priorities include employment opportunities, overhauling the services sectors, poverty eradication, raising the standards of living, fighting corruption and enacting comprehensive reforms economically and in the sectors of management, finances, and banks, in order to overcome the obsolete legacy of previous management systems that were unable to keep pace with changes and global advancements.

We have made important strides in this direction and in record time. The investment climate in Iraq has developed and has opened up to the global economy and to fruitful partnerships. We have signed many agreements in a variety of sectors. Iraq has become a safe environment that attracts investors to opportunities that are filled with promise.

Iraq continues to be an important oil state. It is a pivotal state in the global energy market. It offers opportunities and projects and businesses of extreme importance in this field. We have launched the road to development project.

This pioneering project is one of the most modern projects in the region. It is a vital land corridor that connects essential economic parts in our developing area. It is the best path for trade and economic exchange in the region. It is important in the field of transport and economy this project is a strategic Iraqi vision, a vision of connectivity and outreach to the world and positive economic interaction many international organizations have issued reports citing the spread of corruption in Iraq.

We have diagnosed this disease and we have named it the corruption pandemic making combating it the top of our priorities. We are cracking down wanted persons wherever they were. And regardless of the ranks and affiliations.

We have surrendered them to the judiciary, the Iraqi judiciary so that this disease can be stamped out here. We ask our friends and our partners to help us combat corruption in all its stages. We ask them to facilitate pursuing those who perpetrate corruption we must all work together and cooperate in combat and corruption. We must retain return the money that they have stolen, because we believe that there's a symbiotic relationship between corruption and terrorism and this is what we all want to fight.

Esteemed delegates. We have established an independent and balanced foreign policy that is targeted towards cooperation and that is based on bringing views closer together and focusing on commonalities. We want Iraq to be a source of stability in its regional and international sphere. We want Iraq to be part of the solution to any international or regional problem. We want Iraq to be an enabler of understanding and cooperation. We seek to build constructive partnerships that are based on mutual respect, and on incentivizing all the different parties.

We aim to help in drawing policies that will establish and achieve sustainable development for our peace loving peoples. The Republic of Iraq reaffirms its commitment to the principles of international law. We affirm our respect for all United Nations resolutions, we stress our determination to establish the best of ties with everyone, especially our neighbors.

We reject any interference in our internal affairs, regardless of the excuse and our constitution stipulates that Iraq will not be a launching point for any aggression towards other states. Similarly, we ask everyone to respect Iraq's sovereignty and territorial integrity.

We reserve our right to take the necessary measures as established by international laws and conventions to repel any violation of our country's here we reaffirm that we extend a hand of friendship to our neighbors to maintain the security and stability and progress and prosperity of our region in a manner that will guarantee prosperity for our peoples.

 We hope to achieve regional integration, we hope to remove anything that obstructs the free flow of trade in the region. We aim to facilitate the movement of persons and capital and goods through political borders and we aim to connect infrastructures together all of these are factors that would mitigate the potential for armed conflict and would limit the further escalation of existing conflicts.

We see a that we can achieve economic integration by standardizing and streamlining economic policies and custom fees and laws and connecting economic infrastructures together through joint investments and offering opportunities and as a gesture towards pushing forward these efforts.

We are working on holding the Baghdad 2023 conference for economic integration and regional stability. We will not follow a policy of polarization rather we will deal with everyone in accordance with our national interests. We continue to bolster Iraq's natural place in the field of international cooperation and take every action to enhance stability.

Our government has placed the file of IDPs and the forcibly displaced people persons at the top of our priorities and we have taken many national measures to find solutions, sustainable ones to secure their voluntary and safe return to their homes and to rebuild their liberated cities. We have also sought to resolve the issue of missing persons who were disappeared.

By the criminals of that we offer material and psychological support to their families and work on their reintegration. In Iraq, we are moving towards endorsing a policy of the protection of civilians. So that we would entrench the concept of preserving human rights and respecting humanitarian international humanitarian law.

We train our security forces and we monitor their performance in the field of protecting civilians, especially in terms of any mistakes that are committed in armed conflict. We also seek to protect civilians during natural disasters. This would make Iraq the first state in the Middle East that adopts such a policy and creates an environment of cooperation between security forces and the citizens.

We are making steady progress towards holding local elections in the governor's towards the end of this year. After a 10 year hiatus, these elections are a pillar of decentralization in Iraq. They are an important part of the resilience of the governance system and state establishments. The federal government, through its comprehensive and multiple programs enjoys the best of relations with the region of Kurdistan and all of the governors of Iraq on an equal footing.

 It is in constant contact with representatives of the region and the local governments in all of Iraq's governors so that we will transform opportunities to projects that would enhance the development of resources and the Iraqi economy.

Ladies and gentlemen. Our region and our country specifically the land of Mesopotamia, The Land Between the two great rivers is suffering from a drought, a drought as a result of climate change. And there is an extreme need to preserve our rights in water resources and international river basins.

The natural water bodies in Idaho or the Iraqi marshes is one of the lungs of the entire planet. Having these marshes dry out would be a biological, ecological and historic loss to all living beings on this planet. There will be a loss of a human heritage and a chapter in the book of humanity and its civilization. Iraq witnessed the first international treaty and this treaty was on water and it was signed to to 2550 years ago.

 Therefore, the cradle of civilization must not be allowed to die of thirst. this environmental disaster would have a harsher impact on Iraq and the region due to the unprecedented increase in temperatures which turns every aspect of daily life into an almost impossible task. Therefore, Iraq is working on and calling for exerting more efforts between the relevant regional states so that we could work together and we could find an effective coordination mechanism so that we could form a negotiating bloc within the climate convention.

We call for establishing an integrated mechanism to manage cross border water resources and to address the effects of droughts and sandstorms and heat waves. We stressed the need to mobilize international efforts to guarantee the sustainability of water resources here. We call for establishing a regional grouping that will be comprised of the coastal states of the Gulf, including Iraq and Iran. And the Member States of the Gulf Cooperation Council because these are the states that will be disproportionately subject to the temperature rise.

This grouping would be tasked with coordinating regional efforts to manage water resources and address climate change and bolster environmental protection and work together and leading action to convert to jobs.

 Our government at the national level has taken the necessary measures to lessen emissions and stop gas flaring and the environmental pollution it causes. We have also launched several projects in terms of waste recycling and encouraging the use of clean energy.

Our government has endorsed and ratified a national strategy to combat pollution and its impact for the years 2023 to 2030. Iraq believes that addressing these challenges requires establishing institutions that are able to deal with economic challenges, and more specifically, climate challenges. Your Excellencies despite the cross border challenges that we face, as they face all of humanity, we seek to confront them effectively and within our national capabilities, by cooperating with our partners and friends. And the most important of these challenges is the challenge of drugs.

Drugs hinder all efforts to establish development and invest in human resources and the development of youth. Therefore, our government has adapted to the National Strategy to Combat drugs. psychotropics for the years 2023 to 2025. We, as the international community and governments in the region have no alternative except to intensify our efforts to coordinate our work and combating drugs and any related activities that would facilitate them falling in the hands of our children, our societies. And it is no secret that there is a direct relationship between terrorism and drugs.

Mr. President, Iraq is classified and according to population service, is classified as a useful state and that youth, males and females constitute 60% of the Iraqi population. Therefore the Government of Iraq has given them priority attention and its government program and seeks to support the youth because they are the best investment.

The Iraqi government has established many programs and strategies and projects and initiatives to support us in every aspect. We have launched the initiative called riada, translated as pioneer for development and employment. And it aims to support students and youth and empower them and develop their creativity so that they will be able to find employment opportunities and create effective economic action.

And we aim to develop practical and productive energies so that we could encourage students and us to keep up with the changes of the labor market and technological advancements and to invest skills and creativity so that we would allow for innovation and provide 1000s of employment opportunities to use so that they would live in a dignified manner.

We have also established a supreme Youth Council that is chaired by the Prime Minister, the ministers of Youth and Sports and the ministers of planning and finances and Labor and Social Affairs and education and scientific research and culture.

 Thanks to the sponsorship of the Iraqi Government by the Iraqi Government of the youth sector and through its construction of sports centers, Iraqi sports teams, and students, teams were able to win many ALC accolades and titles and several tournaments and championships. Here we would like to reiterate that our government continues to implement programs to empower women and to grant women the effective right to contribute in every stage of development.

Women have been an important factor in all of our victories against terrorism and women continue to be our partners in overcoming all the difficulties that we are facing. Mr. President, we say to the world that we have a firm stand on the Palestinian right to establish an independent Palestinian state with Jerusalem as its capital. We also reiterate Iraq support for the unity of Syria, land and people we call for ending the suffering of the Syrian people and allowing them to exert full control over all Syrian territory.

Mr. President, we note the continued threat posed by terrorist organizations and their ability to recruit elements that will threaten our security and target our states. We know the need to distinguish between instigating violence and spreading hatred and attacking the beliefs of others on the one hand, and the freedom of expression on the other.

 Burning the Holy Quran is a hate crime. And it aims to offend an aggressor the beliefs of a quarter of the world's population and those who respect sanctities this cannot be marketed as freedom of expression. We Iraq know the bitter taste of religious extremism, and we know the effects of this extremism. And such actions are the main ingredients towards creating such extremism and encouraging it and terrorists. That is the best example of this,

In closing time has come for Iraq to regain its natural place in the international community after its glorious success and combating terrorism. On behalf of the world. And the defeat that we have established with the help of friends and partners, we defeated this terrorism. The people of Iraq have registered and have made immortal epics in battling the most vicious of crimes.

And here we would like to know the wise guidance of Grand Ayatollah Ali Sistani and His blessing IIDX and we know that the valor of all the security and military forces of Iraq and these victories and in their efforts to establish the basis of social peace with the spirituality, Iraq has become safe and stable, and we will work through productive diplomacy so that Iraq would become a center where brothers and sisters and friends and partners need to build a region that is safe and prosperous that serves all of our people. Iraq now enjoys the strength of its resources, and its geographic location, and the will of its people. Who've confront challenges and who has emerged victorious. As always, I thank you for your kind attention, peace and God's blessings be upon you.

Speaker 1 

On behalf of the assembly, I wish to thank the Prime Minister of the Republic of Iraq for the statement just made

Transcribed by https://otter.ai 

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Tishwash: This is my favorite one so far  #Urgent | Prime Minister: We diagnosed the scourge of corruption in Iraq and called it the corruption pandemic

Sudani: The will to agree prevailed in the new Iraq, and the coalition government succeeded in restoring confidence in the political system

Sudani declares Iraq's commitment to all international agreements and calls on neighboring countries not to interfere

Sudani: The constitution requires that Iraq not be a launching pad for attacks on other countries

Sudani: The government adopted a comprehensive and ambitious reform program to correct the course and restore confidence in the political system.

Sudani: We ask friendly countries to extend a helping hand in the fight against corruption

Sudani: We are committed to the best relations with neighboring countries.. Iraq must not be left to die of thirst

Sudani: We ask friendly and partner countries to extend a helping hand to us in combating corruption and facilitating the process of following it up and those responsible for it.

Sudani: Burning the Holy Qur’an is a hate crime aimed at attacking a quarter of the world’s population
https://www.youtube.com/watch?v=ZwdmHGQvq1M

Iraq Economic News and Points to Ponder Friday AM 9-22-23

Iraq Economic News and Points to Ponder Friday AM 9-22-23

Parliament Sets 3 Months To Restore The Dollar Exchange Rate To Its Official Rate

Politics ,  09/22/2023 10:20  Number of readings: 96    

Baghdad - Iraq today:   The Parliamentary Finance Committee reported that within the next 3 months, the dollar exchange rate will be restored to its official rate.

Committee member Moeen Al-Kazemi said in a television interview, “Iraq opened remittances to import necessary materials, and the Central Bank of Iraq provided approximately 80 percent of the Iraqi market’s needs with official fundamentalist remittances.”

He added, “There remains 20 percent in the black market for which the Central Bank cannot issue a transfer due to imports from countries banned by the US Federal Reserve. Therefore, merchants concerned with obtaining dollars from the black market resort to the parallel market, which leads to this significant increase.”

He continued, “The Central Bank delayed financing its funds from the American side for two periods, and this is considered an obstruction to the work of the Central Bank and the economic situation in Iraq.”

He pointed out that “the American and Treasury restrictions have a pressing impact on the flow of the Central Bank's work, so important measures have been put forward, including facilitating the tax issue for merchants in a way that encourages what is required, that is, the one who pays these taxes, to review the tax authority, pay what he owes, and settle what he owes over the previous period,” pointing out “This procedure is important and is one of the things that encourages the trader to enter the currency window instead of going to the parallel market, which leads to a gradual reduction in the price of the dollar.

He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."   LINK

Identifying The Parties Behind The Rise In The Exchange Rate In The Parallel Market

Policy   Information / Baghdad..  Today, Friday, economic affairs researcher Muhammad Al-Saadi criticized the continued rise in the dollar exchange rate in the parallel market, attributing this to the presence of many speculators and financial mafias working to monopolize the markets and exchange companies with the aim of controlling the foreign currency.

Al-Saadi told Al-Maalouma, “The government continues to take measures to pursue speculators and limit the sale of the dollar outside the framework and powers of the monetary authority, and has worked to open many outlets to sell the currency in accordance with legal procedures.”

He added, "The rise in the dollar exchange rate that the parallel market is witnessing from time to time may be behind financial mafias and speculators who agree among themselves to sell the currency to some exchange companies at an agreed upon price, in order for it to be offered at a high price, or through that they try to achieve profits on goods they imported at the state price." the official".

He stated that "the government can reduce the demand for the dollar in the parallel market by opening companies affiliated with the central bank that work to sell the dollar according to certain specifications, as well as entering the car market to give the dollar to anyone who wants to buy a car, especially since such markets are in which the dollar currency is dealt with."   LINK

Hussein: We Discussed With Washington Linking The Market And The Dinar To The Dollar... And It Reveals Provisions Of The Agreement With Iran

Time: 09/22/2023 12:59:46   Read: 572 times  {Politics: Al-Furat News} Foreign Minister, Fuad Hussein, confirmed that the recent Iraqi-American discussions focused on bilateral relations and joint work in the fields of economy, energy, health and security.

Hussein explained in a press statement that the American-Iraqi relations are distinguished, and have expanded to include various fields, after they were based on security and military cooperation, indicating Washington’s support for the Iraqi position in the international arena, and for economic reform and development in the country.

Regarding the security agreement recently signed between Iraq and Iran, he stated that its provisions were fully implemented by the Iraqi side, with regard to the return of militants present on the border between the two countries in Iraqi Kurdistan to refugee camps.

Regarding the political and security importance of this agreement, Hussein stressed that Iran’s cessation of bombing areas in Iraqi Kurdistan was a condition of the agreement, in exchange for the removal of militants across the border, which the federal government did in cooperation with the Kurdistan Regional Government, in an “important and successful” process for both sides. .

Regarding the possibility of signing a similar agreement with Turkey regarding the armed Kurdish groups that Ankara demands to be removed from the border, Hussein stated that Baghdad has always been in favor of dialogue, expressing his hopes for “intensive dialogues by the same means” with the Turkish side.

The Foreign Minister stated that Ankara has not yet made room to discuss solutions to this problem in another way, far from the use of weapons and violence.

The same spokesman revealed that the President of the Republic summoned the Turkish ambassador to Baghdad to hand him a protest note after the recent bombing, which targeted Arbid Airport in Sulaymaniyah.

The Iraqi official denied the existence of any agreement with Turkey to allow it to carry out repeated strikes on Kurdistan Workers' Party forces in northern Iraq.

Regarding relations with Kuwait, the spokesman explained that the Prime Minister held an “important meeting” with his Kuwaiti counterpart, during which he stressed “Iraq’s full commitment to all Security Council resolutions, bilateral agreements, and respect for Kuwait’s sovereignty.”

Returning to the issue of relations with the United States, the Iraqi official revealed that among the important issues raised at the level of dialogue with Washington is “the issue of linking the Iraqi market and currency to the dollar and the flows of American currency into the country,” noting that it is “a financial and banking issue related to the financial and economic situation of Iraq.”

In his answer to a question about whether security issues related to armed groups affiliated with Iran were among the files that were discussed, Hussein Fouad said, “We did not discuss this issue, and all groups are subject to the Commander-in-Chief of the Armed Forces, that is, to the orders of the Iraqi Prime Minister.”

Regarding the relations between Saudi Arabia and Iran, the spokesman indicated that the two countries have declared and strong relations, after the exchange of ambassadors and visits by the two foreign ministers, indicating that Baghdad played a role in the restoration of their relations, but the discussions between them are now direct.   LINK

Al-Abadi Comments On Kirkuk And Reveals The Reasons For The Increase In Dollar Prices

Policy  09-21-2023 | Source:  Alsumaria News  12,905 views   Former Prime Minister Haider al-Abadi considered that the success of the current government does not depend on pleasing the United States of America, and while he revealed that the coordination framework had signed a request regarding those belonging to ISIS, he pointed out the reasons for the increase in dollar prices, and also called on the political blocs not to give away what they do not have in their possession. His comment on the recent “Kirkuk crisis”.

Al-Abadi said in his interview with the program “Balmukhtazil”, broadcast by Al-Sumaria TV, that “many of those affected ISIS Whether the fighters or residents have not regained all their rights yet, and there is a request in the political document not to hold accountable those who fought with the ranks ISIS

Whoever belongs to them is not considered a criminal, and the coordination framework was signed within the political agreement on that,” indicating that “there was a kind of race to sign the document to form the current government without discussing it, while what was signed was not a political matter, but a governmental matter.”

He added, "There is a difference between the unseen and those who were killed and not reported. There are cases reported that they were killed during the liberation of the regions, and this indicates that they were killed with the terrorist organization, and in the political document they demand that these people be given salaries and compensation without investigation and for the sake of electoral gains at the expense of their blood.

” Innocent people," noting that "there is no violation of the citizens of the liberal areas, and we were keen to investigate all the video clips that spread at that time that contained field executions by some armed parties, and most of which we did not reach a conclusion with.”

Regarding the region's crisis, Al-Abadi stressed that “the region must be dealt with on the basis of one Iraq and one interest, and to move away from the atmosphere of ‘I will support you and you will give me’ because this will lead to the surrender of rights that do not belong to the parties but to the citizens,” explaining that “some deprive the region’s citizens of their rights to please their audience.” "electoral."

He pointed out that "in 2018, the budget it had presented was withdrawn, and with a 'swipe of a pen' the region's salaries were increased by 50% without accounting for the sake of political gain, and the government must calculate the region's salaries "Accurately for the benefit of the citizen and not for a political purpose," stressing that "the region He refused to name his employees and link them to the federal government, and on the other hand, he accused it of not giving them or paying them salaries.”

Regarding Kirkuk, Al-Abadi explained, “The current Prime Minister, Muhammad Shiaa Al-Sudani, has a statement that what is happening in the governorate is a political agreement and that he did not sign it. Therefore, the political blocs should not give what they do not have and leave the matter to the people ofKirkuk, who are the ones who decide their fate,” adding: “I did not sign the current document because of the presence of paragraphs that work towards quoting the state.”

The head pointed out  Victory coalition He pointed out that "the problem of Jurf al-Sakhar lies in that some of its residents were displaced to Anbar during the time of liberation, and others to northern Babylon. Here the government must decide if they pose a danger, why their affairs are not scrutinized, and if they are otherwise, why they do not return to their places," indicating that “There is a difference in vision regarding this area, and the holy shrines also have an opinion not to rush this issue because it is very close to it and it is not possible to risk it again, and there is a perception among people that the danger still exists.”

Regarding Al-Sadr’s withdrawal from the political process, Al-Abadi said, “Al-Sadr chose a path for himself and there are blocs that he does not want to ally with within the framework. He worked hard in his decisions and has a vision of reforming the situation inside the country, but he cannot do it alone because Iraq has many political pluralisms,”

noting that he “The country cannot be left without a government, and it is difficult to manage the political process without Al-Saadr, but he blocked the path to understanding and until the withdrawal of his deputies, we thought it was a pressure card, but he insisted on the matter and did not want to cooperate fully with the framework, so he did not participate in the provincial council elections even.” ".

He added, "Al-Sadr's objection came because most of those in the framework had corruption and quotas, while those allied with them also had files of corruption and quotas. The matter is not a matter of love and hate, but of running a state, and that is why I was with the obstructing third," explaining that "Al-Sadr tried to concede in Sometimes, but he set conditions on the framework that he bring in some of his leaders, not all of them.”

He continued, "Some see the Prime Minister as a traffic policeman who regulates the course of the political process, but the truth is that he is the first executive man in the state, and the issue of lending to the region was raised by the Prime Minister and was not discussed, but he explained some of the problems in the accounts and the region's entitlements," noting that "Parliament put it in a draft.

" The budget included provisions that made it impossible to implement the paragraphs related to the region, so he decided to resort to loans, and Al-Maliki was the first to support this decision.”

Regarding the issue of early elections, the former Prime Minister stressed that “they cannot take place unless there is a logical reason for them, and now there is no motivation to hold them. The October demonstrations are the only thing that called for early elections because it was a real crisis between the regime and the Iraqi street, but After that, there was a great reluctance to vote, and there was no need for early elections.”

He pointed out that “there is no external or internal interference in the installation of Mustafa Al-Kadhimi as head of Iraqi intelligence, and the “message” incident was from a person who was not from the American government and was calling for the installation of another person. The forgery was revealed and he was arrested,” indicating that “we needed to infiltrate the organization.

” ISIS uses intelligence to uncover plans before they happen, and the agency at that time did not have the ability to do such things, so it worked to replace those present with a person who had the least objection rate from those present ability, and the political blocs that chose Al-Kadhimi for the position of prime minister are the ones who bear the consequences of their decisions.”

Al-Abadi confirmed, “ISISWho stole the Baiji refinery and it was recovered with difficulty, and parts of it were vandalized, and the committee that was sent to it examined the damage and confirmed that it needed time to restore it to work, but with the vandalism that occurred, there were valuable pieces inside the refinery that caused us problems, and people who were wearing fighter uniforms looted these pieces, and ironically Fate is that the gangs that deliveredIraqtoISISShe is the one who controls now and accuses others of theft.”

He added, “Some Sunni leaders in a time of displacement and attacks byISISThey came to negotiate with me in order to give them compensation only to them and not to all the citizens there,” adding, “The pieces that were returned to the liquidator recently are not important, and he is working without them, and what happened was a case of gaining votes in the upcoming elections.”

He explained, “The success of the current government does not depend on pleasing America. There is a conflict within the United States between Democrats and Republicans and a division within its societies. Both sides cannot be satisfied, and everything that is happening in their view is caused by Iran, and Iraq is now paying the price for being a neighbor of the Islamic Republic," revealing,

 "The United States demanded earlier, they specified the rate of money laundering in the dollar and where it goes, and they provided us with some places, but without numbers, such as the Emirates and Turkey, and these two countries have their banks open to America, but only Iraq is held accountable.”

Regarding the monetary policy followed, Al-Abadi considered that “the defect in the  Central Bank of Iraq  cannot be solved through security methods, but rather through economic policy that can be controlled, and that the pressure on traders and investors will cause them to turn to the black market,” adding, “We must reduce the red tape in the process of transferring legitimate funds and keep the state active in this aspect.”

He suggested that “the monetary supply is the reason for the increase in dollar prices. In 2014, it was 41% and currently it is more than 100%, and this is what will lead to inflation,” stressing that “there are problems in the government’s dealings with the economic file. ”  LINK

Points to Ponder From Seat of the Soul by Gary Zukav:

You create your  reality with your intentions  
An intention is a quality of consciousness that you bring to an action

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously  

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention 

"Tidbits From TNT" Friday Morning 9-22-2023

TNT:

CandyKisses:  US bank: Oil may jump to $ 120 a barrel

Economy News - Baghdad

Oil prices could rise back to triple digits if crude oil supplies face more pressure – and this could slow global economic growth to near a halt, according to JPMorgan.

The bank's strategists said in a note that oil prices jumped 27 percent over the past month to trade at a 10-month high.

If prices maintain these levels, they are likely to lower global GDP growth by 0.5 percentage points over two quarters, according to the U.S. bank.

The bank expects Brent crude to fall to around $86 a barrel by the end of the year, but experts have warned that prices could rise and drag the economy further if oil supplies face sustained pressure.

The bank's strategists said there was concern that the latest supply cuts were not over and that Brent crude could jump further to $120 a barrel, which would mean a 60 percent jump in the second half of the year.

Bank analysts said higher prices could push global inflation to around 6 percent until the end of the year and hurt global gross domestic product by 1.3 percent year-on-year over the next two quarters.

"In fact, a cumulative 60 percent jump in oil prices would indicate the kind of shock that usually occurs only before recessions," the bank added

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Tishwash:  Al-Sudani to the heads of American companies: Iraq is prepared to attract all types of investments

Prime Minister Muhammad Shiaa Al-Sudani met in New York, yesterday evening, Thursday (Baghdad time), with a number of presidents and representatives of American companies, on the sidelines of his participation in the 78th session of the United Nations General Assembly.

Al-Sudani met with representatives of: The American company General Electric, the multinational technology group Honeywell, and the American law firm Kuvenkin.

The meeting witnessed, according to a statement from the Prime Minister’s Office, a copy of which {Al-Furat News} received, “discussions on expanding the partnership and cooperation between Iraq and these companies, and the possibility of strengthening and developing previous agreements, within the framework of the government’s pursuit of economic reform and laying the foundations for technological and industrial development in the Iraqi economy.”

The Prime Minister stressed, during the meeting, that "the Iraqi investment arena is prepared to attract all types of investments, especially within the government's continuing efforts to build infrastructure, as well as developing the rest of the economic and industrial aspects."  link

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Tishwash:  Al-Sudani: We are preparing a draft of the economic reform law and concluding a trade and investment agreement with America

Prime Minister Muhammad Shiaa Al-Sudani held a meeting this evening, Thursday (Baghdad time), with members of the American Chamber of Commerce, in the presence of a number of businessmen, investors, and representatives of major American companies.

Al-Sudani appreciated the efforts of Vice President of the American Chamber of Commerce, Steve Lutz, in arranging this meeting to inform investors about the business environment in Iraq.

He stated that Iraq is a fertile land for investment in many important sectors, and there are natural resources that have not been invested yet, and the time has come to invest them in a way that achieves prosperity for the Iraqi people and contributes to strengthening the strategic relationship with the United States.

The Prime Minister delivered a speech during the meeting, the highlights of which are the following:

Our government invests revenues correctly to activate important economic sectors other than oil, as it is not possible to continue to rely on oil to strengthen the budget and cover obligations, as was the case throughout the previous stage. 

The wrong path in wasting burned gas will stop within 2-3 years, after the completion of the gas projects that began with Total and the Emirati and Chinese companies in the fifth round.

We announced 11 fields and exploration blocks in the governorates. Anbar, Nineveh, and Najaf, which include natural gas that will be invested for the first time in Iraq’s history.

Economic reform is a priority, and it cannot be implemented without the presence of an effective and capable private sector that is a partner with the government.

We focused on providing a favorable business environment for foreign companies in general, and American companies in particular, by virtue of the capabilities they possess, and also within the vision path of the partnership between Iraq and the United States.

The relationship between Iraq and the United States cannot remain limited to the security aspect.

The business environment in Iraq requires a great effort to reduce bureaucracy. We have the decision and will to stop corruption through legal measures, and companies cannot be made vulnerable to blackmail or red tape.

- Every project and file related to a company will be personally sponsored and followed up by us, and we will work to overcome all obstacles you face.

We are working on reforming the tax system and the customs system, and we are currently preparing a draft economic reform law that addresses loopholes in several laws.

We have a draft system to regulate e-commerce, and the government is committed to protecting intellectual property, and we approved a draft law that was sent to the House of Representatives for a vote.

We are working diligently on the draft electronic payment law, and we have made great strides in financial and banking reform, through our relationship with the Federal Reserve and the US Treasury.

Today we have clear and transparent trade subject to global compliance standards in financial transfers.

The Ministry of Commerce, through the Commercial Attaché in Washington and with the US Trade Representative Office, is working to hold meetings for the third session of the Trade and Investment Framework Agreement, in the first quarter of 2024.

The function of this agreement is to identify the challenges facing trade and investment relations between Iraq and the United States.

We call on all American companies to present their challenges facing their presence and work in Iraq. To develop solutions for it.

- We supported the private sector in the budget law, through the Iraq Fund for Development, whose capital reaches $750 million during 2023, and in 2024 we will add an additional amount. 

We are currently conducting understandings with Arab and international investment funds, specifically with the Saudi Investment Bank, where we have a partnership in this aspect.

The government will provide sovereign guarantees in the budget law to establish industrial and agricultural projects in Iraq.

We have understandings with the German Hermes Foundation and the Italian Sochet Foundation, and they are prepared to provide production lines to important laboratories and factories in the industrial sector in exchange for 15% from Iraqi businessmen and 85% provided by the government as a sovereign guarantee.

A delegation of Iraqi businessmen toured Germany and Italy and identified factories, and is currently in the process of reaching understandings to implement these projects that were chosen according to market requirements. 

We want to achieve a real shift in health services, and we have a health insurance law, and we have a new philosophy that represents a transitional stage for implementing this law, through joint operation with companies specialized in providing health services.

We offered 6 hospitals and we hope that there will be American companies specialized in providing medical and therapeutic services in operating these hospitals.

The size of the pharmaceutical market in Iraq is approximately $3 billion annually, with national production representing only 10%, and the rest is imported.

The Council of Ministers issued a package of decisions to support pharmaceutical producers, and today there are more than 245 requests to establish production lines for the pharmaceutical industry. 

We are moving strongly towards using modern irrigation techniques to confront water scarcity. There are arable areas and an attractive environment, but they need specialized technologies and companies to develop this sector.

We concluded contracts with Emirati, Chinese, and Iraqi companies to establish solar power plants, and we concluded a contract with Total to generate 1,000 megawatts of solar energy. link

Mot:  ...... Morning fur Sure!!!! 

Mot: ..... siiiggghhhhhhh -- WHY!!! -WHY!!!

World News Posted by TNT Members Thursday PM 9-21-2023

TNT:

CandyKisses:  The US House of Representatives will hold a session next week to cancel the authorization for the invasion of Iraq

Information/Translation... 

A report by the American newspaper Business Insider revealed, on Thursday, that the US House of Representatives will hold a hearing next week on repealing the law that authorized the disastrous American invasion of Iraq in 2003.

The report, translated by the “Information” agency, stated that “the session that will be held on Thursday Next, according to Council spokeswoman Leslie Shedd, more details will be announced, as the scheduled hearing is expected to address the revocation of the 2002 Authorization to Use Military Force against Iraq and the replacement of the 2001 Authorization to Use Military Force, according to a person familiar with the details of the session’s outline. 

The report explained, "This is the first time that the House of Representatives is preparing to formally address this issue since Republicans took control of the House earlier this year, while last March the Senate approved a bill to abolish the authorizations for the use of military force by an overwhelming majority of 66 votes." 30-30, although dozens of Republicans ultimately opposed it. 

He stated that "efforts to revoke the powers to invade Iraq have been stalled for several months in the House of Representatives, which is largely due to the opposition of Republicans with orientations linked to the arms industry in key committees, where hard-liners believe that repealing the law will leave the United States with fewer legal tools to attack." Targets in Iraq under the pretext of combating terrorism and fighting ISIS,” according to their claim. 

He noted that Democratic Representative Gregory Meeks of New York, the committee's ranking member, introduced a bill earlier this year that would replace the 2001 AUMF with a new authorization more narrowly designed for terrorist hot spots, and would need to be reauthorized. Every 4 years.

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Tishwash:  Including Iraq.. These countries dominate gold reserves in the Arab world

The World Gold Council’s report for the month of September showed that the gold reserves of the Arab countries amounted to 1,515.1 tons, while the gold reserves of the countries of the world combined reached 35,664.5 tons.

According to the report, which shows what central banks own in gold, 5 Arab countries account for the lion’s share (about 69%) of the total Arab countries’ reserves of the yellow metal.

According to the report, the countries are: Saudi Arabia (323.1 tons), Lebanon (286.8 tons), Algeria (173.6 tons), Iraq (132.6 tons), Egypt (125.9 tons).
Globally, the United States (8133.5 tons) topped the world in gold reserves, followed in second place by Germany (3352.6 tons), then Italy (2451.8 tons), then France (2436.9 tons), followed by Russia with reserves amounting to 2329.6 tons.

The past years have witnessed a desire by central banks around the world to buy the precious metal in light of economic fluctuations and high inflation rates. link

Tishwash:  The BRICS countries support reform of the United Nations and the Security Council

 The foreign ministers of the BRICS countries expressed, during a meeting on the sidelines of the United Nations General Assembly, their full support for the reform of the United Nations and the UN Security Council.

The ministers stressed that reforming the UN Security Council will make it more democratic, increase its efficiency and effectiveness, and enhance the level of representation in it.

The statement of the Council of Foreign Ministers of the BRICS countries, which was published on the Russian Foreign Ministry’s website, stated: “The ministers expressed their support for comprehensive reform of the United Nations, including the UN Security Council, to make it more democratic, representative, efficient and effective, and to increase the representation of developing countries in all categories.” Membership of the Council, so that it can respond appropriately to current global challenges, and support the legitimate aspirations of developing countries in Africa, Asia and Latin America, including Brazil, India and South Africa, so that they can play a greater role in international affairs, especially in the United Nations in the UN Security Council “.

In addition, during the meeting, the foreign ministers of the BRICS countries stressed that the participation of the BRICS countries in the work of the UN Security Council, including Brazil as an elected member for the period 2022-2023, is a valuable opportunity to continue strengthening and raising the value of our dialogue on peace and security issues. international cooperation and to continue cooperation in areas of common interest.”

In turn, the Russian Foreign Ministry noted that the foreign ministers of the group’s countries pointed to “the importance of continuing efforts aimed at increasing the efficiency and effectiveness of the United Nations in implementing the tasks entrusted to it.”

The ministers called for continued cooperation with the aim of improving the United Nations’ resources, management and budget, and preserving the role of member states as the driving force of the United Nations, as well as ensuring more effective monitoring and strengthening of the organization’s activities.   link

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Tishwash:  Sudanese to Russia before the end of the year

 Iraqi Foreign Minister Fuad Hussein revealed on Thursday that Prime Minister Muhammad Shiaa Al-Sudani is planning to visit Russia before the end of this year.

The Russian "Novosti" agency quoted the Foreign Minister as saying that the Prime Minister's visit "will take place this year and in the coming months. We are now in the process of organizing the visit."

Last July, the Russian ambassador to Baghdad, Elbrus Kurtashev, said that the Iraqi Prime Minister had accepted an invitation to visit Russia, but the date of the visit had not yet been determined.

The head of the Russian diplomatic mission indicated that such a visit would be an opportunity to discuss issues of concern to the leadership of the two countries, including those of a political and economic nature.

 Foreign Minister Fouad Hussein confirmed today, Thursday (September 21, 2023), that Prime Minister Muhammad Shiaa Al-Sudani plans to visit Russia before the end of this year.

Hussein said in an interview on the sidelines of the United Nations General Assembly in response to a question about Sudanese’s invitation to visit Russia: “That may happen this year, within the coming months, and we are working to organize this visit soon.”

Hussein stressed that “relations between Iraq and Russia are still strong, despite the sanctions imposed on Moscow, and the changes in the political environment resulting from the conflict in Ukraine,” pointing out that “Iraq needs Russia’s expertise in maintaining old weapons systems, but the sanctions prevent cooperation".

He added, "Iraq is committed to the security agreement with Iran and expects a similar position from Tehran," noting that "Baghdad hopes to achieve progress in the discussions with Ankara regarding resuming oil exports from the Kurdistan region of Iraq."

Hussein continued: "It would be best for the United Nations General Assembly to discuss achieving peace between Russia and Ukraine because the world needs it."

The work of the 78th session of the United Nations General Assembly began yesterday under the slogan “Rebuilding Trust and Bridges of Global Solidarity,” and the summit’s work is scheduled to continue for a week. link

Iraq Economic News and Points to Ponder Thursday Afternoon 9-21-23

Iraq Economic News and Points to Ponder Thursday Afternoon  9-21-23

Tlm724 Administrator Bondlady’s Corner

American Bank: Oil May Jump To $120 Per Barrel

Energy  Economy News – Baghdad  Oil prices could rise back into triple digits if crude supplies face further pressure - and this could slow global economic growth to a near halt, according to JP Morgan.

The bank's strategists explained in a note that oil prices jumped by 27 percent over the past month to trade at their highest level in 10 months.   If prices maintain these levels, it will likely lead to a decline in global GDP growth by 0.5 percentage points over two quarters, according to the US bank.

The bank expects Brent crude to fall to about $86 a barrel by the end of the year, but experts have warned that prices could rise and lead to a further decline in the economy if oil supplies face continued pressure.

The bank's strategists said that there is concern that the recent supply cuts have not ended yet, and that Brent crude may jump further, reaching $120 a barrel, which means a 60 percent jump during the second half of the year.

The bank's analysts said that higher prices could push global inflation to about 6 percent until the end of the year, and hurt global GDP by 1.3 percent on an annual basis over the next two quarters.

“In fact, a cumulative 60 percent jump in oil prices would indicate the kind of shock that typically only occurs before recessions,” the bank added.

Views 10 09/21/2023 - https://economy-news.net/content.php?id=36541

The MP Expects The Oil And Gas Law To Be Passed After The Provincial Elections

Energy   Economy News – Baghdad  Member of the Parliamentary Oil and Gas Committee, Ali Al-Mashkour, confirmed on Thursday that there are 11 controversial points regarding the articles of the Oil and Gas Law, while he expected its approval after the local elections scheduled for mid-December.

Al-Mashkoor said, “The oil and gas law is a subject of disagreement between the federal government and the region, as they both view it from their own angles,” noting that “there are 11 controversial points regarding its articles that were drawn up by the federal government, and they need time to be resolved because they are in the spirit of the law and interfere with its name.” ".

He explained, “One of the controversial points, according to the law, is the formation of the Oil and Gas Law Authority, which includes representatives of the producing governorates in addition to the federal government and the region, and whose president is the Federal Minister of Oil, while the region wants the region’s Oil Minister to be an equal to it,” expecting the law to be passed.” After the local elections scheduled for mid-December.”

Al-Mashkoor added: “There are no two states in Iraq, but rather there is a federal government and a region, and we call for the centralization of the law to take into account the rights of the provinces and the region,” expressing “his committee’s readiness to approve the law at any time.”

Views 26 09/21/2023 https://economy-news.net/content.php?id=36537

Stock Market: The Value Of Shares Traded This Week Is More Than (Cool Billion Dinars

Market   Economy News – Baghdad  During the third week of September 2023, the Iraq Stock Exchange organized five trading sessions from Sunday, 09/17/2023, to Thursday, 09/21/2023.

The following indicators were achieved during this week:

The number of shares traded during this week reached more than (6) billion shares.

The value of shares traded this week amounted to more than (Cool billion dinars.

The market trading index closed for the first session of the week at (825.67) points, while the index closed at the end of the week at (845.29) points, achieving an increase of (2.32%) from its close at the first session. During the week, (4287) purchase and sale contracts were executed on the shares of companies listed on the market.   Views 36 09/21/2023 - https://economy-news.net/content.php?id=36536

The Central Bank Sells More Than $198 Million In Currency Auction

Economy News – Baghdad   Today, Thursday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 198.6 million dollars.

The Central Bank's website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 26 banks and 79 exchange companies, and foreign transfer requests covered $165.1 million, while cash requests amounted to more than $33.4 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

126 views 09/21/2023 https://economy-news.net/content.php?id=36528

The Importance Of The Development Path Compared To Other New Global Economic Corridors

Money  and business  Economy News – Baghdad  Economic expert Qusay Safwan confirmed that the development road to be established in Iraq is the most suitable route for transporting goods from Asia to Europe via Al-Faw Port, passing through the Bosphorus Strait in Turkey.

Qusay said, “At that time, Iraq will have the ability to speed up and have the best time in the process of transporting goods,” noting that “Iraq is seeking to adopt the road as a corridor for Gulf gas exported to Europe.”

He pointed out that “the development road has a great advantage, which is its proximity to large population centers that can be a window to attract foreign investment,” noting that “both sides of the road can be transformed into industrial, commercial and tourist cities.”

Qusay noted that “the Turkish economy needs to implement a development road to optimally invest its land routes towards the European Union,” noting that “the road has great tourist importance and can contribute to transporting about 13 million tourists annually from Europe to the Arabian Gulf region.”

The expert explained that “the process of linking the holy cities in Iraq, including the governorates of Karbala and Najaf, with Mecca and linking the economy of the Kingdom of Saudi Arabia with the Iraqi economy, reaching the African depth of Egypt and crossing the Kingdom of Jordan, will contribute to reviving the path of development,” stressing that “linking the Iranian and Russian economies to the road “It will contribute to transforming the road into a global transit corridor.”

Qusay stressed that “Iraq’s presence in the heart of the world gives it the best opportunity in the process of success of this road, and it can be a window to diversify Iraq’s economy and create non-oil revenues that are the most sustainable among competitors.”

The British “Middle East Eye” website considered that the “India-Middle East-Europe Economic Corridor (IMEC)” project, which is supported by the United States and the European Union, still needs time before it is realized, explaining that Turkey, in return, supports the “Development Road” project. “What brings it together with Iraq, and is achievable, according to its point of view, despite the challenges and obstacles facing it. Source: ABC Arabia   Views 93 09/21/2023 - https://economy-news.net/content.php?id=36527

Representatives Are Demanding The End Of The Appointment Of The Central Bank Governor For These Reasons

Thursday 21, September 2023  Political Number of readings: 178  Baghdad / NINA / Representatives renewed their demand on Prime Minister Muhammad Shiaa Al-Sudani to take measures to end the assignment of the Governor of the Central Bank of Iraq, Ali Al-Alaq, for a number of reasons.

The representative of Najaf Governorate, Al-Ashraf Hadi Al-Salami, said in a joint press conference with Representative Ahmed Al-Sharmani, today, Thursday, “We have demanded the end of the assignment of the governor of the Central Bank, and we previously addressed a letter to the Prime Minister on 7/26/2023, which included the end of the assignment of the governor.”

 The Central Bank and the implementation of the provisions of Article 13 of Central Law No. 56 of 2004, and it was based on the text of Article 61 of the Constitution, House of Representatives Law No. 13 of 2018 in Article 15 Fourth, and based on what was stated in the Iraqi Constitution in Article 49,

 and based on Article Fifth of the Constitution Which stipulates the appointment of ambassadors and those holding special grades upon a proposal from the Council of Ministers and based on the provisions of Article 44 Second of the House of Representatives Law of 2018, which stipulates that the concerned parties shall exercise their agency duties for a period not exceeding six months from the date of appointment, and the party concerned in the proposal must recommend the appointment to the Council within three months. ".

He added, "We asked the Prime Minister to take measures to end the assignment of the current Central Bank Governor, given the mismanagement of the currently assigned governor and his inability to control the rise in the dollar exchange rate in the parallel market, as well as the failure to take legal measures against the banks that were subject to US sanctions for dollar smuggling and money laundering." In addition to his abstention from the daily sales bulletin.”/ https://ninanews.com/Website/News/Details?key=1079071

A new rise in dollar exchange rates in Baghdad

Economy  Thursday, September 21, 2023 Baghdad/National News Center  Dollar prices rose today, Thursday, in Baghdad markets.  The prices were as follows..

The selling price was 157,000 Iraqi dinars, while the purchase amounted to 155,000 dinars for every 100 dollars.   https://nnciraq.com/227883/

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

https://www.bondladyscorner.com/

Points to Ponder From “Seat of the Soul”  Gary Zukav

As you choose to empower yourself - the  temptation that you  challenge will surface again and again -- Each time that you challenge it you gain power and it loses power

With each choice that you make to align  yourself with the energy of your soul - you empower yourself - Authentic power is built up step by step - choice by choice -- It cannot be meditated or prayed into being -- It must be earned

By remaining in your power you do not become a static energy system - one that hoards energy to itself -- You become a stable energy system - capable of conscious acts of focus and  intention -- You become a magnet for those who are illuminated and those who want to  be

You cannot and will not encounter a circumstance or a single moment that does not serve directly and  immediately the  need of your soul to heal - to come to wholeness

When the personality , Jesus encountered the Luciferic principle , the challenging dynamic of the human experience -- when he  was offered dominion over the  entire  globe -- was he tempted??? Yes he was tempted !! If he were not - there would have been no power in his choice -- Authentic empowerment is not gained by making choices that do not stretch you  

Sooner or later, each soul will turn toward authentic power - Every situation serves this goal and every soul will reach it

When you understand that the experiences of your life are necessary to the balancing of the energy of your soul - you are free to not react to them personally -- to not create more negative karma for your soul 

Although what you encounter and what you do in each moment is appropriate and perfect to the evolution of your soul -- the shape of the  experiences of your life is determined nonetheless by the choices that you  make -- It is you that  chooses to linger in resentment - or enveloped in  grief - or to release these lower frequency currents of energy 

"Tidbits From TNT" Thursday 9-21-2023

TNT:

CandyKisses:  Urgent Cabinet Secretariat announces holiday on September 27

local: Al-Furat News} The General Secretariat of the Council of Ministers announced an official holiday on Wednesday of next week.

A statement by the secretariat of the {Euphrates News} a copy of which was said that "it was decided to disrupt the official working hours, on Wednesday, corresponding to 2023/9/27, in all ministries and state institutions, coinciding with the anniversary of the birth of the Master of Objects and the Messenger of Mercy, the Prophet Muhammad (pbuh)."

CandyKisses:  90 percent of travelers resort to the parallel market to secure dollars in Iraq - urgent

Baghdad Today - Diyala

The Chamber of Commerce in Diyala Governorate confirmed, on Thursday (September 21, 2023), that 90 percent of travelers outside Iraq resort to the parallel market to secure the dollar .

The dollar exchange rates in Iraqi local markets are witnessing unstable jumps until they approached 160,000 dinars for every 100 dollars, in conjunction with information about American intentions to impose sanctions on new banks that are not committed to the terms of transferring and financing trade using the dollar .

The head of the chamber, Muhammad Al-Tamimi, said in a statement to "Baghdad Today" that "the rise of the dollar will not stop for several reasons, including 90 percent of travelers outside the country resorting to the parallel market to secure the dollar due to the complexities and ambiguity of the procedures," pointing out that "he personally did not obtain The dollar through approved outlets at the official rate for the purpose of travel, despite his repeated attempts, let alone simple citizens .”

He added, "The number of travelers is not small, and they constitute a pressing factor on the parallel market because the purchase rate is estimated at millions of dollars per day, which means an increase in demand amid a limited supply, which leads to a gradual rise in the exchange rate," noting that "the file of selling the dollar at the official rate to travelers needs... "To seriously reconsider and listen to people's repeated complaints ."

He explained, "The rise in the dollar means an increase in prices, thus draining the pockets of the simple people who are directly affected, in addition to the presence of 11% who are at risk of poverty in all governorates ."

The financial expert at the Baghdad Stock Exchange, Hossam Al-Khaizaran, had previously confirmed that "continuous speculation in hard currency and smuggling still threaten the value of the Iraqi dinar .”

Al-Khayzaran added, "Smuggling and speculation networks have found new ways to avoid the Central Bank's measures," calling on "the authorities to take new steps to address the crisis of the deteriorating value of the national currency ."

He considered that "families pay the highest price, because most food items are imported and linked to the dollar, not the dinar," expecting "a new rise in poverty rates if the dinar's value decline and instability continue ."

In media statements, economic researcher Ahmed Abd Rabbo called on the Central Bank of Iraq to launch a new reform package that will restore stability to the dollar exchange rates .

While the Iraqi financial expert, Ziyad Al-Hashimi, confirmed in his blog post that "the scarcity of the dollar supply in the local market has led to new rises in its exchange rates," expecting "more rises

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Tishwash:  An Iranian official reveals the country's reserves of black gold

The Executive Director of the National Iranian Oil Company stated that Iranian oil production has increased by more than one million barrels per day since the current government took office in August 2021.

Executive Director Mohsen Khojasta Mehr said, “Iran has regained its previous production ranking in the Organization of the Petroleum Exporting Countries.” OPEC, which was registered before the embargo, pointed out that “oil production during the era of the previous government was on average 2.25 million barrels per day, and today it has reached 3.3 million barrels.”

He added, "Within the next 10 days, production will reach 3.4 million barrels per day. He revealed that Iranian oil production will reach the level of 5.7 million barrels per day in the next eight years, and gas production will reach 1.5 billion cubic meters per day."

He stressed that "Iran's oil and gas reserves amount to 340 billion barrels, and it has 400 oil and gas reservoirs and is at the forefront of the world in this field, adding that the average recovery in oil fields is 25%, and gas is about 70%."  link

Mot: Great Tip fer dat Marital Thingy!! - You Can Rely on ole ""Mot"" fer Sure

Mot:  ... What an Awesome ""Relationship Tip"" from ole Mot of course! 

Iraq Economic News and Points to Ponder Thursday AM 9-21-23

Iraq Economic News and Points to Ponder Thursday AM 9-21-23

Expectations That The Oil And Gas Law Will Be Passed After The Local Elections

Iraq  09/21/2023   Baghdad: Haider Al-Jaber  The Oil and Gas Law can be called “the dean of deferred laws” in Iraq, as 15 years after it was presented in the House of Representatives, it continues to be postponed for political reasons that coincided with the crises that the political process was periodically exposed to, while the law, according to its draft, allows for production sharing agreements that It guarantees a profit to foreign oil companies, and the federal government distributes remaining oil revenues throughout the country on a per capita basis.

A member of the Parliamentary Oil and Gas Committee, Ali Al-Mashkoor, told Al-Sabah: The oil and gas law is the subject of disagreement between the federal government and the region, as both of them look at it from their own angles, noting that there are 11 controversial points regarding its articles that were drawn up by the federal government, and they need time to be resolved because they are... In the spirit of the law and interfere with its name.

He pointed out that one of the controversial points, according to the law, is the formation of the Oil and Gas Law Authority, which includes representatives of the producing governorates as well as the federal government and the region, and whose president is the Federal Minister of Oil, while the region wants the region’s Oil Minister to be his equal, expecting it to be passed after the scheduled local elections. Mid of next December.

Mashkoor explained that there are no two states in Iraq, but rather there is a federal government and a region, calling for the centralization of the law to take into account the rights of the provinces and the region, expressing his committee’s readiness to approve the law at any time.

It is noteworthy that the draft law allows production sharing agreements that guarantee a profit for foreign oil companies, while the central government distributes the remaining oil revenues throughout the country on a per capita basis, and allows governorates freedom to award exploration and production contracts.

For his part, parliamentary economics member Kazem Al-Fayyad expected, in his speech to “Al-Sabah”, that the passage of the law would contribute to a qualitative shift in the Iraqi economy, and would give better control to the federal government, and a more equitable distribution among the governorates, noting that most of the laws that are approved in the House of Representatives are mainly based on On how to deal with it and how to apply it.

 He explained that if the oil and gas law is applied correctly and according to what is stated in its text, the citizen will benefit from it, as oil revenues will be distributed fairly and equally, pointing out that the producing governorates that bear the consequences of oil extraction will benefit, as will the federal government, which will have greater freedom in contracting with companies. Companies will reduce restrictions, and the extraction and export file will be more controlled.

Al-Fayad stressed that the law is excellent, calling for its implementation without political pressure or external or internal interference, with the public interest prevailing.

Edited by: Adhraa Juma   https://alsabaah.iq/84416-.html

Expectations That The Oil And Gas Law Will Be Passed After The Local Elections

The first  09/21/2023   aider Al-Jaber   The Oil and Gas Law can be called “the dean of postponed laws” in Iraq. Fifteen years after it was presented in the House of Representatives, it continues to be postponed for political reasons that coincided with the crises that the political process was periodically exposed to, while the law, according to its draft, permits production sharing agreements that guarantee A profit for foreign oil companies, and the central government distributes the remaining oil revenues throughout the country on a share basis   The individual.

A member of the Parliamentary Oil and Gas Committee, Ali Al-Mashkoor, told Al-Sabah: The oil and gas law is the subject of disagreement between the federal government and the region, as both of them look at it from their own angles, noting that there are 11 controversial points regarding its articles that were drawn up by the federal government, and they need time to be resolved because they It pours into the spirit of the law and interferes with its name.

He pointed out that one of the controversial points, according to the law, is the formation of the Oil and Gas Law Authority, which includes representatives of the producing governorates in addition to the federal government and the region, and whose president is the Federal Minister of Oil, while the region wants the region’s Oil Minister to be an equal to him, expecting it to be passed after the scheduled local elections.

Mid of next December. Mashkoor explained that there are no two states in Iraq, but rather there is a federal government and a region, calling for the centralization of the law to take into account the rights of the provinces and the region.    https://alsabaah.iq/84404-.html

Expectations That The Oil And Gas Law Will Be Passed After The Local Elections

Energy   Economy News _ Baghdad   The Oil and Gas Law can be called “the dean of deferred laws” in Iraq, as 15 years after it was presented in the House of Representatives, it continues to be postponed for political reasons that coincided with the crises that the political process was periodically exposed to, while the law, according to its draft, allows for production sharing agreements that It guarantees a profit to foreign oil companies, and the federal government distributes remaining oil revenues throughout the country on a per capita basis.

Member of the Parliamentary Oil and Gas Committee, Ali Al-Mashkoor, said in an interview with Al-Sabah, followed by Al-Iqtisad News, that the oil and gas law is a subject of disagreement between the federal government and the region, as they both view it from their own angles, noting that there are 11 controversial points regarding its articles that were drawn up by the federal government. It takes time to solve it because it is in the spirit of the law and interferes with its name.

He pointed out that one of the controversial points, according to the law, is the formation of the Oil and Gas Law Authority, which includes representatives of the producing governorates as well as the federal government and the region, and whose president is the Federal Minister of Oil, while the region wants the region’s Oil Minister to be his equal, expecting it to be passed after the scheduled local elections. Mid of next December.

Mashkoor explained that there are no two states in Iraq, but rather there is a federal government and a region, calling for the centralization of the law to take into account the rights of the provinces and the region, expressing his committee’s readiness to approve the law at any time.

It is noteworthy that the draft law allows production sharing agreements that guarantee a profit for foreign oil companies, while the central government distributes the remaining oil revenues throughout the country on a per capita basis, and allows governorates freedom to award exploration and production contracts.

For his part, parliamentary economics member Kazem Al-Fayyad expected that the passage of the law would contribute to a qualitative shift in the Iraqi economy, and would give better control to the federal government and a more equitable distribution among the governorates, noting that most of the laws passed in the House of Representatives depend primarily on the way they are dealt with and the way they are implemented.

 He explained that if the oil and gas law is applied correctly and according to what is stated in its text, the citizen will benefit from it, as oil revenues will be distributed fairly and equally, pointing out that the producing governorates that bear the consequences of oil extraction will benefit, as will the federal government, which will have greater freedom in contracting with companies. Companies will reduce restrictions, and the extraction and export file will be more controlled.

Al-Fayad stressed that the law is excellent, calling for its implementation without political pressure or external or internal interference, with the public interest prevailing.

Views 58  Added 09/21/2023 https://economy-news.net/content.php?id=36505

Al-Sudani Meets With American Companies To Support Gas Investments In Iraq

money and business     Economy News – Baghdad   Iraqi Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Wednesday, that he will meet with dozens of American companies as part of efforts to boost investment in the gas sector.

Al-Sudani said in an interview with Bloomberg TV in New York: “My government is serious about investing in gas and in becoming an active and strong player in the market.”

Al-Sudani, who met US Secretary of State Anthony Blinken while he was in New York, said that the latter invited him to visit the White House, expressing his hope to do so by the end of this year.

Al-Sudani revealed that he met with American companies operating in the Kurdistan region of Iraq and wishing to move to the rest of the regions in his country, and that he intends to meet representatives of 31 other companies today. He indicated that his government also aspires to complete agreements with Emirati and Chinese companies, although he refused to give specific information in this regard.

Iraq aims to achieve self-sufficiency in gas production and export

Iraq is trying to reduce its dependence on Iran for obtaining gas, a measure that has become more difficult given that the harsh US sanctions on Iran make the payment process difficult. It is also spending billions of dollars to increase its gas production to avoid supply disruptions.

Al-Sudani stated that Iraq - the second largest oil producer in OPEC - wants to maintain stable oil prices “to ensure the interests of producers and consumers,” expecting the price of oil to not fall below a range ranging between 85 and 95 dollars per barrel.

He concluded: "Iraq is committed to achieving the voluntary goal that we agreed upon within OPEC."

150 views   Added 09/21/2023 - https://economy-news.net/content.php?id=36516

In Numbers... Integrity Details The Money That Was Detected, Stopping Its Waste, And Returning It During The Month Of August

Political | 11:11 - 09/21/2023  Baghdad - Mawazine News  The Integrity Commission announced today, Thursday, the prevention of wasting more than 219 billion and 196 million dollars during last August.

https://www.mawazin.net/Details.aspx?jimare=235312

Politician: Al-Sudani Focuses On 3 Points During His Stay In New York

Information / Baghdad...  Political analyst Sabah Al-Ugaili said on Thursday that Prime Minister Muhammad Shiaa Al-Sudani has a set of important points that he will focus on during his presence in New York, the most important of which is the dollar issue, the relationship with Turkey, the water file, and Khor Abdullah.

Al-Ugaili told Al-Maalouma, “Al-Sudani has the most important issue in New York, as he is trying to emphasize this issue through his meetings with US Treasury officials. As for raising the issue of the American military presence, it is unlikely that Al-Sudani will raise it during his presence in the aforementioned city, as it provokes Washington.” ".

He added, "America is working to procrastinate, procrastinate, and evade its commitment to the Strategic Framework Agreement," noting that "the American side announced that it will not leave Iraq."

He stated that "Al-Sudani will focus on the dollar file, relations with Turkey, and the water file, as well as Khor Abdullah, as it will be present on Al-Sudani's agenda during his presence in the United Nations General Assembly." LINK

Al-Sudani Confirms Iraq's Efforts To Pursue Strategic Relations With The United States

Time: 09/21/2023 Read: 806 times  {Politics: Al-Furat News} Prime Minister Muhammad Shiaa Al-Sudani stressed, today, Thursday, Iraq’s endeavor to pursue strategic relations with the United States, based on mutual interests and constructive economic partnership.

Al-Sudani’s office stated in a statement received by {Al-Furat News}, that “Prime Minister Muhammad Shia al-Sudani met in New York, after midnight on Wednesday (Baghdad time), with the US President’s special envoy to the Middle East and North Africa, Brett McGurk, on the sidelines of his participation in The 78th session of the United Nations General Assembly, and the meeting witnessed discussion of the overall relations between Iraq and the United States, and ways to strengthen and develop them at various levels and fields, in a way that serves the interests of the two friendly peoples.

The Prime Minister affirmed Iraq's endeavor to pursue strategic relations with the United States, based on mutual interests and constructive economic partnership, indicating that the investment arena in Iraq is open for American companies to contribute to the reform and reconstruction plans of Iraqi infrastructure.

Al-Sudani also renewed his reference to the readiness of the Iraqi security forces, the advanced level of performance and integration of their formations in various categories, and their success in pursuing the terrorist remnants of ISIS, stressing the investment of the successful visit recently conducted by an Iraqi delegation headed by the Minister of Defense to Washington, and its discussion with the American side of the future relationship with the coalition. International fight against terrorism.

For his part, McGurk affirmed his country’s support for the success of the reform steps pursued by the government, and the United States’ continued provision of advice and training to Iraqi forces in their fight against ISIS, reiterating the American administration’s commitment to the Strategic Framework Agreement, and supporting the reforms undertaken by the government, in the economic fields, infrastructure reconstruction, and combating corruption. .   LINK

Points to Ponder From “Seat of the Soul”:

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously  

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention 

Feel your intentions in your heart -- Feel not what your mind tells you, but what your heart tells you 

Intuition is perception beyond the physical senses that is meant to assist you -- It is that sensory system which operates without data from the five senses

What is behind our eyes holds more power that what is in front of them 

The decisions that you make and the actions that you take upon the Earth are the means by which you evolve

An angry personality will respond to the difficulties of it life with anger, and thereby bring into being the necessity of experiencing the results of anger --

A person who is angry, and yet reveres life, however -- will respond very differently to the difficulties of his or her life than a person who is angry and has no reverence for Life