Iraq and the World Bank are discussing strengthening bilateral relations

Foreign Minister Fuad Hussein discussed, on Tuesday, with the President of the European Bank for Reconstruction and Development, Odile Reno-Basso, ways to strengthen bilateral relations between Iraq and the bank.

The Ministry of Foreign Affairs said in a statement that the meeting discussed ways to strengthen bilateral relations between Iraq and the bank, in a manner that guarantees the possibility of strengthening the private sector in Iraq and digitizing the banking system.

The minister stressed the importance of partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy, noting that the Iraqi government’s priorities are investment in the fields of energy and digital transformation in the financial infrastructure.
For her part, Mrs. Odell confirmed the bank’s desire to work in Iraq and contribute to supporting the private sector and renewable energy.

The meeting was attended by the Ambassador of the Republic of Iraq in London, Muhammad Jaafar Al-Sadr, Ambassador Haider Al-Athari, Head of the Europe Department, Ghufran Kazem, Director General of the Public Debt Department at the Ministry of Finance, and on behalf of the European Bank, Kazuhiko Koguchi, Secretary General of the European Bank for Reconstruction and Development, and Heikki Hargart, Executive Director of the Bank.

Dijlah.tv

Find out the reasons for the dismissal of the Director of the Bureau of Financial Supervision

Information / Special… Today an informed source revealed the reasons for the dismissal of the Director of the Federal Financial Supervision Bureau by Prime Minister Muhammad Shabaa Al-Sudani, while confirming that one of them is the latter’s involvement in the “theft of the century” file.

The source, who preferred not to be named, said in an interview with Al-Maaloumah Agency, “The preliminary investigations indicate the main role of the Director of Financial Control in developing the theft of the century that took place in the previous Al-Kazemi government,” noting that “the director worked to satisfy all parties (personal Moderate), during the last period in order to continue in the position.

And he continued, “One of the reasons that delayed the dismissal is the political pressures and campaigns of extortion of the government before the dismissal decision was taken,” noting that “the financial control was involved in many corruption deals that took place during the previous government.”

And the source concluded, “One of the most prominent reasons that led to the dismissal of the Director of the Bureau of Financial Supervision is his involvement in the file of theft of the century, by facilitating many matters for the former head of the Finance Committee, Haitham Al-Jubouri, and the former Al-Kazemi office and his advisors.”

Prime Minister Muhammad Shia’ al-Sudani had agreed earlier in the day to dismiss the Director of the Federal Office of Financial Supervision, Rafel Yassin Khudair, and to appoint a replacement for him.

And a member of the Parliamentary Integrity Committee, Ali Al-Jamali, confirmed in an interview with Al-Maalouma agency, that “many of those involved in stealing the century from the Federal Office of Financial Supervision and Public Integrity in the Al-Kazemi government have been exposed.”

Almaalomah.me

BGG ~ Not long ago I made a fairly long post describing what I have come to understand over the last year or so…

To review: I explained how the biggest impacts on the value of the Iraqi Dinar would likely be…

1) Them using their own currency (exclusively), they are nearing this point now…

2) Them entering some “Brics type” alliance, as opposed to being so attached to the US (note this recent alliance with Qatar – more to follow?).

Take note of Iraq recently not buying US Treasuries. If we (Janet Yellen) won’t even buy our own treasuries, why should they?? We’re such a bad investment, we won’t even buy us.

Finally, note this recent article I put up:

“Parliamentary Finance explains the impact of approving the budget on the exchange rate during the coming period”.

While I highly doubt there is any direct change of the rate contained in the budget – the currency pressures created by the new methods in this budget may well force the currency higher over time.

So aside from all the recent nonsensical hype, the actual news for the future of Iraq is pretty decent.

Hang in there.

Read More: https://www.dinarupdates.com/blog

BGG ~ The point I was trying to convey, is to quit listening to all the “budget hype” and “group chant”… RV, RV, RV, RV.

This may well happen, but at this point, not for any reason that has been previously discussed. Not one.

This post wasn’t about false hope… it was about KNOCK OFF THE BULL$4!T.

The Victory Coalition reveals the reasons for the government’s appeal to the budget law

Information / Baghdad… The leader of the Victory Coalition, Aqil al-Rudaini, revealed, on Tuesday, the reasons for the government’s appeal against 12 articles in the 2023 budget.

Al-Rudaini said in an interview with Al-Maalouma, that “through the documents, there are 12 articles in the 2023 budget that were challenged by the government, and they are articles that have a financial side, and according to the State Administration Law, they have the right to appeal because their curriculum needs funding according to a specific principle, and increasing them may prevent it from Fulfilling them, and this is what prompts them to appeal.”

He added, “The articles that were challenged are specified in the 2023 budget and the final decision of the competent court, stressing that the law is clear with regard to increasing the funds allocated in any paragraphs within the budget, and that this does not lead to an increase in it, and therefore the government has the right to appeal.”

Yesterday, government documents revealed the official appeal of 12 articles in the 2023 Budget Law.

Almaalomah.me

“The money has run out.” A government bank stops electronic advances

Shafaq News / The government-run Rafidain Bank announced, on Tuesday, the suspension of electronic advances until further notice, attributing the reason to the depletion of financial allocations.

In a statement received by Shafaq News agency, the bank’s media office said, “It has temporarily stopped promoting electronic advance transactions submitted through the (Ki) application, until further notice.”

The bank added, in its statement, that this suspension “came as a result of the specified financial allocation for advances for employees, retirees, and military personnel,” noting that “it will announce the date for re-submission after completing the grants for all applicants and currently registered, while the bank continues to collect monthly installments from beneficiaries via electronic deduction.”

Shafaq.com

In the presence of Al-Sudani.. the Coordinating Committee meets to dismiss “failed” officials

Shafaq News / In the coming days, the Shiite coordination framework will hold a meeting in the presence of Prime Minister Muhammad al-Sudani to discuss several files, including the dismissal of officials who failed to manage their positions and “did not bear responsibility”.

This was reported by an official source in the framework to Shafaq News agency, adding that the meeting will discuss a number of important files, including the appeal submitted by the government against some articles and paragraphs of the budget law.

And between the meeting of the framework with Al-Sudani, he will discuss the file of changing ministerial positions, those with the rank of minister or undersecretary, and governors who are incompetent and unable to assume responsibility, and have failed to manage the tasks assigned to them during the last period.

Shafaq.com

Owners of banking companies are calling for an amendment to the Central Bank of Iraq’s policy in the currency auction

Shafaq News / Dozens of owners of banking companies demonstrated in Baghdad, on Monday, to protest against the Central Bank of Iraq’s policy of selling dollars in the daily auction.

Shafaq News Agency reporter stated that the owners of exchange companies gathered in front of the Central Bank building in the center of the capital, Baghdad, demanding the stability of the dollar exchange rate, and not limiting its sale to travelers, as this contributes to the smuggling of hard currency outside Iraq.

The demonstrators also called for the implementation of Law No. 56 of 2004, which gives the Central Bank exclusive power to supervise and inspect its financial institutions.

Shafaq.com

Deputy: Al-Sudani is determined to make a ministerial change

Today, Friday, a member of the House of Representatives, Haider al-Jubouri, confirmed the intention of Prime Minister Muhammad Shia al-Sudani to carry out a cabinet change in his government.

Al-Jubouri said in a statement to “Al-Mutala” agency, “Prime Minister Muhammad Al-Sudani had previously announced his intention to make ministerial changes in his government, including the negligent ministers, and his willingness to go to parliament on the issue.”

He added, “Any new position was not issued by Al-Sudani, and therefore it will continue to change, especially after the approval of the financial budget.”

Al-Jubouri, who is a member of the Parliamentary Services Committee, said, “Al-Sudani seeks the success of his government and the realization of the slogan raised by (a government of services). This has been proven through the budget’s inclusion of a large number of service projects in all governorates.”

Almutalee.com

The tripartite budget faces challenges in some of its paragraphs, and the region is the first to lose

Information / Baghdad… After a difficult cesarean delivery for the tripartite budget, which took place after difficult labor in a dark night, some political parties wishing to do justice to their central and southern provinces returned to trying to challenge some paragraphs of the budget, at a time when the Kurdistan Democratic Party was the first to object to the budget, especially Articles 13 and 14, and it is likely To go about challenging them before the judicial authorities, but some parties confirmed that the region’s appeal would not be in the interest of the people of Kurdistan, who are waiting for the budget to enter into force and implementation.

The representative of the Al-Fatah Alliance, Intisar Hassan, told Al-Maalouma, “The Integrity Committee is in the process of submitting an appeal to the Federal Court in some paragraphs that concern the Kurdistan region, especially since the current budget has put an end to the many violations that were passed to please the governments of the region in the previous period,” a sign That “Parliament is with the southern provinces in fairness in terms of raising the proportions that have been allocated in the general budget, as some of the benefits that Kurdistan obtained were at the expense of the central and southern provinces.”

On the other hand, Representative Ghaleb Muhammad Ali ruled out, in a televised interview followed by Al-Maalouma, that the regional government would resort to challenging the paragraphs of the budget, as going towards such an option would make the Kurds the first loser in the budget, especially since the region cannot export oil and there are salaries that have not been paid. employees, and awaiting the entry into force of the budget in order to disburse the amounts.

On the other hand, the representative of the Sadiqoun Parliamentary Bloc, Ali Turki, confirmed to Al-Maalouma that “approving the budget for three years is an important achievement for the government and parliament, especially since the law was passed amid difficult circumstances amid objections and discussions about the articles of the law, and after this effort made by the House of Representatives There is a fear that one of the articles of the law will be challenged because the appeal of any article will open a wider door to appeal the rest of the articles by some political blocs or independent personalities because they are not convinced of some of the articles.

Almaalomah.me

The Central Bank of Iraq organizes a workshop to upgrade its employees

Yesterday, the Central Bank of Iraq organized a dialogue educational workshop for the employees of the Central Bank of Iraq and managers of administrative departments. The Director of Human Resources Affairs, Dr. Falah Salim, and the Director of the Development and Training Department, Mr. Nizar Al-Khalidi.

The lecturers emphasized the interest in human resources and their repercussions on the performance of the Central Bank of Iraq.

The workshop dealt with ways to raise the employee to the highest levels through development, training and participation in conferences inside and outside the country, and it was emphasized that the employee represents the true image and facade of this ancient institution.

The Central Bank of Iraq,
Media Office

cbi.iq/news/view/2365