He added that taking a new decision to reduce the exchange rate comes only by ensuring financial abundance and improving the economic situation after adopting clear reforms, including diversifying non-oil revenues, automating the customs systems and border crossings, and enacting new laws whose mission is to preserve national.
Information / Baghdad .. The State of Law coalition confirmed, on Monday, that coalition representatives and a number of political blocs will demand Finance Minister Ali Allawi during the hosting session that was held today, to return the dollar exchange rate to its previous position, especially after the end of the financial crisis.
Member of the coalition, Representative Muhammad Al-Sihoud, said in a statement to / the information /, that “today’s session for two discussions is the formation of parliamentary committees, which is an important topic in order to activate the supervisory and legislative roles, while the other place is hosting Finance Minister Ali Allawi.”
He added that “the State of Law coalition and with it political blocs from the forces of the coordination framework and others will ask the Minister of Finance to return the dollar exchange rate to its previous position because it caused great and dangerous damage to the layers of society from the middle and poor segments.”
Chihod pointed out that “the negative effects that resulted from the decision to raise the exchange rate increased the poverty rate to large and frightening rates, amounting to more than 35%, according to reports by the Ministry of Planning and civil society organizations.”
Chihod stressed by saying: “It has become imperative for the government and the Ministry of Finance to return the exchange rate to its normal position, especially since the financial crisis has ended and the financial situation has improved, especially after the rise in oil selling prices.”
Baghdad – Today, Al-Rafidain Bank announced the interest rate that is paid to citizens in return for depositing their money.
And the bank stated in a statement received by the fourth, that “the interest rates of savings accounts are 4 percent paid to citizens in return for depositing their money.”
The statement added, “The interest of a fixed deposit for a period of one year is 5% for those who deposit their money in the bank.
Earth News / The Presidency of the House of Representatives announced today, Saturday, the agenda for the second session of the fifth electoral cycle, the first legislative year / the first legislative term.
The meeting’s agenda included 3 paragraphs, starting with the constitutional oath of some deputies, passing through the formation of the permanent parliamentary committees.
The agenda also includes a public invitation for discussion regarding (the rise in the dollar exchange rate) in the presence of Finance Minister Ali Allawi.
Earth News / Member of the State of Law coalition, MP Muhammad Al-Shammari, revealed today, Thursday, the ability of the House of Representatives to restore and reduce the value of the dollar price.
Al-Shammari said, in an interview with Earth News, that “Parliament is able to reduce the price of the dollar and can pressure the government in order to reduce prices.”
He added that “the dollar’s exchange rate was within the electoral program of the rule of law, and today it will take place and resort to legal methods and methods to implement this promise.”
The Speaker of the House of Representatives, the First Deputy and the Second Deputy held a meeting with the heads of the parliamentary blocs, last Tuesday, to discuss a number of issues related to the work of the Council during the coming period, while it was decided to hold a session of Parliament next Monday and host the Minister of Finance in it.
Earthiq.news
A few days ago, Iraq ended the file of compensation for the Kuwait war that took place during the last decade of the last century, as it paid the last payment of dues, amounting to 44 million dollars, and it is expected that this will contribute to the re-integration of the Iraqi banking system with its global counterpart and benefit from the financial abundance that will be achieved.
The Central Bank of Iraq said earlier that “the payment of the last remaining installment of the State of Kuwait’s compensation amounting to $44 million has been completed, and thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the Security Council under Resolution 687 of the year 1991, with a total of $52.4 billion for the State of Kuwait.
Closing the compensation file, beginning of closing the remains of Chapter VII
The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, said in a press statement that “the compensation file cost Iraq about 52.4 billion dollars in GDP and the efforts of its economy, which is not small, as it is sufficient to build an electricity network system that will revive the country for many years.” He added, “This reckless war was borne by the people of Iraq, and closing the Kuwait compensation file is a new page in Iraq’s economic history.”
Saleh revealed that “this file was costing Iraq daily from 6 to 7 million dollars,” noting that “the value of these funds from its current exports, which amount to more than two billion dollars annually, will be added to the country’s budget, and block one of the exchange doors.” He expressed his hope that “these funds will go to development represented by investment projects that employ the workforce and produce income,” noting that “closing the compensation file is the beginning of closing the remains of Chapter VII.”
Al- Kazemi ’s advisor explained that “about 40 resolutions were imposed on Iraq because of the Kuwait war by the Security Council, and it has been completely shackled until the present time. United”. Iraq is close to bringing the curtain down on the Kuwait war compensation file. This is expected to contribute to the re-integration of the local banking system with its global counterparts.
Does Iraq need a legislative revolution that keeps pace with the post-2003 era?
He stated that “Iraq was considered an aggressor country, while in fact it is peaceful and loving to its friends and neighbors,” expressing his hope that “all the country’s disputes will be resolved within Chapter VI by amicable means in truth.” He pointed out that “Iraq has great prospects for its integration into the global economy,” explaining that “the isolation in which it lives is great, and the world’s planes still do not reach Baghdad airport except for some regional countries, and this is part of the siege that classifies the country as a war zone, which requires costs. Insurance and shipping in technology transfer and in dealing with economic progress.
Saleh stressed “the need for a ten-year development plan to benefit from oil imports, starting with the infrastructure and ending with income-generating projects in all cases,” expecting that “2022 will be a year of progress and prosperity for Iraq and broad positive indicators that begin with the closure of Chapter VII of the Charter of the United Nations and the end of Compensation for the Kuwait war, a return to normal economic life, and integration into the international community.
al-Jubouri, criticized the unprofessional handling of the file of ending Iraq’s debts in favor of Kuwait. He said in a press statement that “the Iraqi debt file in favor of Kuwait is important and lasted for more than 20 years, under which large sums were paid, and it represents a historical stage.” He added, “Therefore, after announcing the end of this file and Iraq’s payment of these debts, dealing with this issue was irresponsible, and it would have been more appropriate for the two countries to announce this officially in a conference in front of the media.” He pointed out that “public opinion does not yet know what are the next steps to pay off the debt, so why did the Iraqi Foreign Ministry not clarify this in coordination with Kuwait?”
Its repercussions are positive
And economic researcher Evan Shaker points out that “after Iraq pays the last batch of compensation to the State of Kuwait, this will have positive repercussions on the first’s economy in general and its banking system in particular, as well as lifting restrictions on the banking system and upgrading it and integrating it with its global counterpart.”
He added to “The Independent Arabia”, “The government’s success in exploiting this financial abundance and adopting a policy of openness to the world will attract foreign investment, and will help expedite the country’s removal from the tutelage of Chapter VII.”
The economic and political researcher, Nabil Jabbar Al-Ali, explained that the payment of compensation allows Iraq a broader political and economic space in its international relations at the diplomatic and commercial levels.
He continued, “The total amount that the country has repaid over the 17 years since 2003 until today is $52.4 billion, equivalent to approximately 5% of its total oil revenues. Government parties are trying to redirect the funds that were intended to pay compensation towards establishing sovereign funds for the future in which funds will be collected and invested.” Internationally as a fund for generations, however, the idea may not be appropriate. The additional financial abundance estimated at about 2 to 3 billion dollars annually that was allocated to Kuwait’s compensation, it is preferable to place it in a local development fund that participates in the development of a development program to establish profitable and sustainable development projects for the fund and outside the authority of the government And it contributes to strengthening national development plans, instead of the annual borrowing operations that the Iraqi government holds with international parties to pay off some of its expenses or spending on projects classified in its investment budget.
He pointed out that “this amount may equal or exceed what was allocated in the annual contracts, which is called the Iraqi-Chinese agreement.”
Jabbar Zeidan is an Iraqi journalist @jabarzed
Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq’s exit from Chapter VII will open the international business environment to the country.
Saleh said in a statement, “The return of Iraq to the international community, free from the restrictions imposed by Chapter VII of the Charter of the United Nations since 1990, is an important victory for the Iraqi people and for Iraqi diplomacy,” noting that “this will enable the Iraqi state to deal with the world without Harsh restrictions and limitations spanning more than 30 years.”
Saleh added, “Iraq’s government and people are today the basis of freedom and the spread of peace in the region and the world,” explaining that “the new openness of the world to Iraq and the lifting of all restrictions represents a technological and scientific progress that our country will witness while it is free of obstacles and high costs imposed on it in the movement of its economy with the world.” “.
The economic expert pointed out that “this will open the international business environment to Iraq in a country that has become free of the cost of political and other risks,” stressing that “Iraq is looking forward to developing bilateral economic relations and opening them up to the State of Kuwait and all countries of the region.”
And the Prime Minister’s advisor said, “Regional economic cooperation will take a wide range in promoting positive economic interactions, especially expanding investment opportunities and joint cooperation for the happiness of the Iraqi people and all the peoples of the region.”
Baghdad Today – Member of Parliament, Yasser Iskandar Watut, revealed today, that Finance Minister Ali Abdel Amir Allawi is threatened with dismissal.
Watout said in a statement to (Baghdad Today) that “next Monday, he will witness the hosting of Finance Minister Ali Allawi for the purpose of discussing the issue of the dollar and the white paper, and there is a decision that will be taken against Allawi, either by continuing until the selection of a new government or proceeding with his dismissal a week after Monday’ssession, as he is threatened with dismissal.” .
He explained, “Yesterday, a meeting was held between the independents and the political blocs on the decision that will be taken against Minister Allawi, after listening to his speech at Monday’s session.”
And he indicated that “Minister Allawi asked for a renewal of confidence in him as a minister in the next government, and this is contrary to the fact that there is no text according to which he is renewed for a minister, and so far no new candidate has been chosen to form the government.”
The Information / Baghdad… Parliamentary circles confirmed that there is a tendency to restore the value of the dinar to its previous era after the dollar exchange rate was raised in late 2020, stressing that the rise caused great harm to the people and was a circumvention of the employees’ salaries.
The independent deputy, Basem Khashan, told Al-Maalouma, “The government took its decision to raise the exchange rate without any study, as this is a circumvention of the people and the salaries of the employees, and today, if it wants to restore the situation to its predecessor, it must reduce the exchange rate or compensate the poor and employees who lost The value of their salaries due to the rise in prices.”
On the other hand, independent MP Yasser and Tut told Al-Maalouma that “the decision to raise the exchange rate of the dollar came without prior planning and had a great impact on the citizen due to the rise in overall prices, pointing out that there is a parliamentary movement to interrogate the ministers, especially with regard to economic security in order to ensure Achieving justice”.
On the other hand, the representative of the State of Law coalition, Alia Nassif, confirmed to “Al-Maalouma” that “her coalition stands by restoring the dollar exchange rate to its previous era, stressing that the rule of law will move towards other forces in order to reduce the exchange rate to raise the value of the dinar against the dollar.”
