Blocs behind raising the price of the dollar impede the questioning of MoF

Shafaq News/ The Parliamentary Economy and Investment Committee held, on Tuesday, some political blocs responsible for delaying and disrupting the interrogation of Finance Minister Ali Abdul Amir Allawi and Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikhaif.

Committee member Nada Shaker Jawdat told Shafak News Agency, “Members of Parliament demanded to host and interrogate the Minister of Finance and the Governor of the Central Bank of Iraq after changing the exchange rate of the dollar against the Iraqi dinar, and the increase in the prices of goods and commodities in the markets during the last period.”

She added, “Some political blocs bear responsibility for delaying and disrupting the questioning of the Minister of Finance and the Governor of the Central Bank for political and personal purposes. They themselves bear the responsibility for the high exchange rate that exceeded 150,000 Iraqi dinars per 100 dollars.”

A number of political blocs and members of the House of Representatives demanded, several times, to question Finance Minister Ali Allawi, and to remove him from his position because of his policy, which some of them described as “failed.”

Jawdat continued, by saying that “the change in the exchange rate and the rise in prices broke the back of the citizen, especially those with daily sustenance and those with limited income.”

The Iraqi parliament failed to hold a session to interrogate Finance Minister Ali Allawi at the end of last May.

Parliament also failed to hold a session at the beginning of this year to interrogate the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikheib.

Shafaq.com/ar

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Iraq Trade Bank – External remittances (SWIFT)

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The price of the dollar will decrease against the dinar in the coming days for these reasons

Baghdad / Obelisk: The economist and former director of operations at the Central Bank of Iraq, Mahmoud Dagher, expected, on Thursday, a decrease in the dollar exchange rate against the dinar, within two or three weeks, if the central bank continues to pump more dollars into local markets.

Dagher said in a television interview (June 10, 2021), that “after the approval of the general budget, the demand for the dollar increased, and the recent developments during the past days, especially in the capital, Baghdad, generated pressure on the dollar.”

He added, “The central bank began a few days ago to pump more dollars into the markets, and if the bank continues to do so, it is expected that the exchange rate will return to its previous levels, and the exchange rate of the hundred-dollar note will stabilize at 147,000 thousand dinars, which is the official price for the public.”

He continued, “The continuation of the dollar exchange rate remaining at the level of 1500 dinars will generate great pressure on local markets and projects and will cause great problems for the state as a whole, and the only beneficiary of this rise are banks and financial companies that buy the dollar at a price of 1460 dinars from the Central Bank.”

Dagher denied rumors about the rise in the exchange rate of the hundred-dollar note to 170,000 dinars in the coming days, stressing that “the Central Bank’s sale of the dollar through the currency auction will contribute to preventing the exchange rate from rising to these record levels.”

Almasalah.com

Iraq announces contracting with local and international experts to reform the banking sector

Mubasher: The Iraqi Council of Ministers voted to contract with local and international banking experts to reform the banking sector.

Cabinet spokesman Hassan Nazim explained, during the weekly press conference of the Council of Ministers, today, Tuesday, that there are many problems in the Iraqi banking sector, according to the Iraq News Agency, “conscious.”

The council also voted to provide fuel oil to the state of Lebanon, in addition to providing 6,000 job opportunities for engineers in oil companies.

On the other hand, Nazim said that there will be soft loans for building housing for all segments of society.

Mubasher.info

General stability stimulates the entry of foreign investment

Baghdad: Iraq has tried to create an appropriate investment environment to bypass the determinants of entering foreign direct investment into its economic sectors, and as it is known that foreign capital moves according to the determinants of the country’s general stability, so the expansion of Iraq’s economic and commercial relations, and the degree of its integration with its regional and international surroundings, and joining international organizations, especially In the economic field, it would provide a suitable environment for investment that must be supported by legal legislation, and effective mechanisms for its implementation.

On the role of the political determinant in entering foreign investment, the academic Dr. Abdul Karim Al-Issawi said, “This is an influential factor in the country in directing the movement of foreign investment, given that the politically unstable state does not encourage the entry of foreign investments due to the various risks that may be inflicted on the foreign investor.”

He added that «there is a set of political determinants that the foreign investor sees as signs of the political stability of the host country, such as the expansion of economic and trade relations, and the degree of integration of the host country with the regional and international surroundings, and joining the multilateral international organizations».
economic stability.

Al-Issawi indicated that “there are economic determinants related to the appropriate monetary, financial and accounting policies in the host country, in addition to the size of the market,” stressing that “we can say that these determinants can be avoided through the promising investment of the natural resources owned by Iraq, with a banking system that has succeeded in performance and transparency is what establishes A banking system suitable for foreign investments to enter the country.

Economic Relations

As for the economic researcher, Dr. Shawkat Al-Talqani, he saw that “in order to help and stimulate the entry of foreign investments, it is necessary to adapt to the radical transformations in global economic and political relations, as competitiveness became the main factor in attracting foreign investments,” stressing that “Iraq has worked on issuing special legislation and laws. Investing through laws such as Investment Law No. 13 of 2006 and its amendments.

Al-Talqani continued, “Foreign direct investment is cross-border funds that countries have resorted to as a type of funding through which they tried to overcome their economic failures, and foreign direct investment in the productive fields represented by agricultural institutions and projects for the exploitation of natural resources and the establishment of anchor projects, and also includes the establishment of new projects or the expansion of projects.”

Alsabaah.iq

Al-Kazemi’s options and the future of Iraq

A little more than a year after taking office, the Iraqi Prime Minister, Mustafa Al-Kazemi, is facing major challenges, which entail decisions that will determine his future, and the future of the country he rules. Either history will remember him as the man who restored Iraq to its people, role and nation, or the opportunity will be lost, and Iraq will turn into a failed state, losing sovereignty, ruled by militias and warlords who receive their orders from across the border.

With his accession to power, many saw Al-Kazemi as an independent figure close to a rising Iraqi national current whose goal is to restore the state, limit the foreign (Iranian) penetration of it, and keep the country away from the arena of regional and international conflict, especially since he came to the first position of power in Iraq, From his position as head of the intelligence service, at the height of the Iranian-American rams, after the killing of Qassem Soleimani at Baghdad airport, and after the fiasco recorded by his predecessor, Adel Abdul-Mahdi, and in which the October 2019 uprising overthrew his government, the weakest and worst that Iraq has known since the US invasion in 2003.

However, despite the hopes that were placed on Al-Kazemi in terms of protecting the protest movement, holding those responsible for killing its youth accountable, restoring the prestige of the state and limiting militia incursions, fighting horrific corruption and boosting the economy, no one had any illusions about the difficulty of the task the man faces, Militias, warlords, party leaders, mafias, and political and sectarian forces divided the state as if it were a booty, and overran its institutions, and tightened control over its capabilities to the extent that it became difficult to uproot it, or to stop its hand from the bowl of gold that was scooped from it.

Not only that, but these forces have become part of a network of corruption that crosses borders, sects and nationalities, feeding on each other, so that one can hear the echo of their rattle echoing from Tehran to Beirut, passing through Baghdad and Damascus. Al-Kazemi, then, is not only facing Iraqi local forces, but an entire axis of corruption that extends across the region, and thrives on the progress of his project based on undermining the state as an idea, culture and institution. Above the difficulty of the task, Al-Kazemi does not belong to any large political bloc in Parliament, whose support he can count on. This weakens Al-Kazemi, according to some, and makes his agenda hostage to the main blocs in Parliament.

However, while we acknowledge the difficulties and challenges he faces, Al-Kazemi possesses important power cards that he can, if he chooses to resort to, completely turn the balance of power in his favor. But this matter needs to be bold and courageous and to abandon caution, hesitation, and the policy of “one step forward, two steps back” that he has followed since taking office, because this weakens confidence in him and pushes the bets on him to rise up around him and turn his back on him.

Al-Kazemi must empower the people to liberate themselves from the grip of political forces and parties that need them more than they need them, and the street has revolted against it and realized its corruption and dependency and the extent of the devastation it has inflicted on the country over two decades. The best standards of integrity and transparency, forming alliances and organizing ranks to enable the emerging national and youth forces to seize the next parliament.

Moreover, Al-Kazemi must take a bold decision to end the duality of power and weapons and create the conditions for dissolving the Popular Mobilization Authority and attaching its affiliates to the military and civil state agencies, even if this leads to a direct clash, as some pain is sometimes necessary to save the country. Al-Kazemi should extend his hand to the rest of the Iraqi people, and strengthen everyone in order to restore Iraq, especially the Sunnis, who paid the price twice, when they were counted against the previous regime and then against ISIS.

These, in turn, must produce new leaders instead of those that have become part of the corruption system, and support the southern provinces in their peaceful movement to restore Iraq as a united and strong homeland for all, instead of weakening it by calling for sectarian titles, such as the establishment of a Sunni region, that is no longer acceptable after the October revolution. 2019. Al-Kazemi today has a choice: either he surrenders and proceeds as others have gone before, or he presents and devote himself as a national leader to a sovereign and independent Iraq.

Alaraby.co.uk

International Security issues a decision to release Iraqi funds seized in Switzerland

BAGHDAD – Justice Department announced on Tuesday that the UN Security Council passed a resolution to launch Iraqi funds reserved for the Swiss government.

According to a ministry statement / balance News / copy of it, received the “Minister of Justice Salar Abdul Sattar Mohammed received in his office Today, the Swiss ambassador to Iraq, Lucas Jacir, discussed ways to enhance joint cooperation between the two sides, especially the possibility of signing a memorandum of cooperation between the Iraqi and Swiss ministries of justice to exchange legal expertise and judicial notifications to develop the capacity development of the ministry’s staff. In the near future”.

The minister called, according to the statement, to “the importance of serious cooperation between the two countries, which would contribute to strengthening frameworks and exchanging experiences, including signing a memorandum of cooperation between the two parties in the near future to serve the interests of the two friendly peoples.”

The statement stated, “The two sides also reviewed the discussion of releasing sums of money belonging to the Iraqi government seized by the Swiss government, and the demand to lift the seizure of these funds and return them, knowing that there is a resolution issued by the UN Security Council to release these sums.” .

And he indicated, “The participation of the Republic of Iraq in writing the national human rights plan prepared by the ministry and the rest of the ministries represented in the national committee for writing treaty reports, which will be held in the ninth month of this year in Geneva, was discussed.”

For his part, the Swiss ambassador expressed his great thanks to “the minister for his great cooperation and warm reception,” expressing his country’s readiness “for cooperation between the two parties, in the field of exchanging experiences and the possibility of signing a memorandum of cooperation between the two sides in the near future.” A43

Mawazin.net

The Central Bank sells the dollar at the official price for several categories

Baghdad – The Central Bank of Iraq announced, on Monday, that it provides facilities to citizens wishing to obtain foreign currency for the purposes of travel, study and treatment abroad, by selling it at the official price.

The bank said in a statement that “Economy News” received a copy of it, that “for the purpose of facilitating the procedures for citizens to obtain foreign currency (dollars) for the purposes of travel, study and treatment abroad, the Central Bank of Iraq announces that all their requests to buy dollars for the above purposes will be met.”

He added, “The process is carried out by feeding electronic payment cards (MasterCard and Visa Card) at the official price set by the Central Bank of Iraq.”

Economy-news.net

AL-KAZEMI ASSURES OF PROVIDING ENVIRONMENT FOR COMPANIES TO INVEST IN IRAQ

Baghdad / National News Center… Today, Friday, Prime Minister Mustafa Al-Kazemi affirmed to French President Emmanuel Macron that the appropriate environment is provided for the work of French companies and investment in Iraq, while the latter renewed France’s readiness to provide various aspects of support that the Iraqi government needs in preparing for early elections.

The media office of the Prime Minister said, in a statement received by the “National News Center”, that “Al-Kazemi received a phone call from French President Emmanuel Macron, during which they discussed bilateral relations between the two countries and aspects of joint cooperation between Baghdad and Paris.”

During the call, Al-Kazemi stressed, according to the statement, “Iraq’s close historical relationship with France, and its positive attitudes towards regional issues,” praising “France’s role and support for Iraq in the war against ISIS terrorist gangs.”

And he indicated the importance of “developing bilateral cooperation between Iraq and France in various fields, especially economic and cultural, as well as providing the appropriate environment for the work of French companies and investment in Iraq.”

For his part, French President Emmanuel Macron reiterated his “support for the Iraqi government, and Iraq’s democratic experience in light of the challenges it faces,” stressing France’s readiness to “provide the various aspects of support that the Iraqi government needs in preparing for early elections, and its support for the UN resolution to send observers to support the work of the Electoral Commission.” “.

President Macron commended Iraq’s “regional role in converging views,” expressing “his optimism that Iraq’s growing role in this field will have a sustainable impact in achieving stability, whose effects will be positively reflected on all parties.”

The two sides agreed, according to the statement, to “continue communication between them, in order to coordinate positions towards regional and international challenges and crises, in a manner that serves the endeavors to resolve conflicts and bring views closer.”

Nnciraq.com