Baghdad summit

Baghdad summit

May be an image of 1 person and standingThe Baghdad summit came to move Iraq’s chronic economic stagnation with its regional and international surroundings. After the hibernation of the vital industrial, agricultural and tourism sectors in the country, we sensed from the presence a serious desire to support Iraq in its various sectors, and international support for its return to its true place among the countries globe.

An important summit that opens political and economic horizons, as the delegations came to Baghdad, the kiss of all, and present in the hearts of the world, and they realize that the most important courses of action in this country rich in its history and heritage is that it is a virgin land for work and accommodates international efforts.

Iraq, which is important with its capabilities and location, can be an important hub and an eighth economic corridor on the surface of the globe, and this is supported by the assurances of economists and specialists.

We have an opportunity to invest this international and regional presence and plan for a new stage of work that will move the country to better levels, and here we must have a real reform of the reality of performance, and legally support investment efforts

Iraq can be an international commercial industrial center and we have a global economic city whose center can be in the south of Iraq and in the city of Al-Faw in particular. The transport of goods shall be within short periods, dependent on the dry channel established for this purpose and which generates revenue

Through the portal of this summit, we can open a door to communicate with the most important international companies to come to Iraq and work together to achieve mutual benefit, as we can significantly advance our economy and serve our country, and the countries of the region together, as the economic advancement in Iraq brings benefit to all countries of the world without exception.

Thus, it becomes clear to us the importance of the Baghdad Summit and its economic dimension, which must be before our eyes and invest in it in the right way.

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Al-Kazemi meets his Kuwaiti counterpart on the sidelines of the Baghdad Conference for Cooperation and Partnership

Al-Kazemi meets his Kuwaiti counterpart on the sidelines of the Baghdad Conference for Cooperation and Partnership

May be an image of 1 person and standingBaghdad today – Prime Minister Mustafa Al-Kazemi affirmed Iraq’s keenness to strengthen the participants and reduce the causes of regional and international conflicts, pointing out during his meeting with his Kuwaiti counterpart on the sidelines of the Baghdad Conference for Cooperation and Partnership, directing joint efforts towards solving outstanding problems.

A statement by Al-Kazemi’s media office, received by (Baghdad today), stated that “Prime Minister Mustafa Al-Kazemi met the Prime Minister of the State of Kuwait, Sheikh Sabah Khaled Al-Sabah, on the sidelines of the Baghdad Conference for Cooperation and Partnership, which started its work today.”

The statement added that “the meeting discussed ways to strengthen relations and joint cooperation, in light of the principles of partnership and bilateral coordination, towards issues of common concern, and to strengthen bilateral positions that consolidate the security and stability of the region.”

Al-Kazemi noted, according to the statement, “Iraq’s keenness to strengthen the participants, reduce the causes of regional and international conflicts, direct joint efforts towards solving outstanding problems, and moving the region towards sustainable development.”

For his part, Kuwaiti Prime Minister Sheikh Sabah Al-Sabah praised Iraq’s role in strengthening the pillars of international and regional stability, stressing “the brotherly State of Kuwait’s keenness to strengthen joint work, towards achieving economic integration, and reducing sources of tension and instability in the region.”

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Iraqi Finance Minister “Supports Floating Exchange Rate” for Dinar

Iraqi Finance Minister “Supports Floating Exchange Rate” for Dinar

By John Lee.

Iraq’s Deputy Prime Minister and Finance Minister has reportedly said that he supports a floating exchange rate for the Iraqi currency, the dinar.

Shafaq quotes Ali Allawi (pictured) as telling a press conference on Thursday that the Central Bank of Iraq (CBI) intervenes occasionally to keep the dinar in the range of plus or minus 5 percent, adding:

“The exchange rate is not sacred as it was before. Fixing the rate leads to the accumulation of economic problems and explosion later.”

(Source: Iraq-businessnews.com)

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Iraqi Finance Minister supports floating currency

The Iraqi Finance Minister supports the floating of the currency

No photo description available.Shafaq News/ Finance Minister Ali Abdul Amir Allawi confirmed on Thursday that he supports floating the currency in a flexible manner.

Allawi said in response to a question by Shafaq News Agency, “The Iraqi currency is floating, but the central bank intervenes from time to time until it places it within a certain bar, for example, plus minus 5 percent.”

He added, “Personally, for me, the best kind of floatation is flexibility in pricing so that the price is not sacred as it was before when it entered people’s minds without change, and thus economic problems accumulate and explode.”

The Minister of Finance continued by saying, “There must be some kind of flexibility; it is not the flexibility with which you lose control over it, but the flexibility that stabilizes the price and setting a range of 2 to 3 percent for both parties.”

Allawi pointed out that “the central bank’s policy is to maintain this price and put the gap between the official price and the market at an acceptable level,” noting that “it has also proven that the stability of the exchange rate is important, except in the case of economic indicators that push you towards change.”

Floating the currency is fully or partially liberalizing the currency exchange rate so that the government or the central bank does not interfere in determining it directly, but rather it is automatically released in the currency market through the supply and demand mechanism that allows determining the exchange rate of the national currency against foreign currencies.

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The Minister of Finance talks about the process of changing the exchange rate of the dollar

The Minister of Finance talks about the process of changing the exchange rate of the dollar

USD-Iraqi dinarFinance Minister Ali Allawi announced that the process of changing the exchange rate was not easy, and while he indicated that Iraq came out of the difficult economic situation safely, he revealed the reasons for the delay in paying salaries.

Allawi said in an interview with a number of media outlets, “Iraq’s financial policy during a year and a half went through five exceptional circumstances,” noting that “entering at the beginning of the government’s work, there was no financial safety valve.”

He pointed out that “the Iraqi economy has changed since 2019 and the obligations of the previous government, and the Corona crisis led to the collapse of oil prices and increased unemployment,” noting that “the government’s policy worked to control expenditures and thus reflected on state revenues.”

He added, “The process of changing the exchange rate was not easy, but the fiscal and monetary policy is reformist and it must be continued. The reform process is correct and started with banks and customs,” stressing that “the fiscal policy aims to balance oil and maximize other resources.”

He pointed out that “the process of changing the dollar exchange rate should have taken place years ago, which reflects something beneficial to reform the economic system, as it is not possible to create an incubating environment for a private economy without the government’s ability to change the distortion of public finance.”

And he indicated, “The exchange rate reflects many issues and its rise is beneficial for some economic sectors,” noting that “the process of changing the exchange rate was wanted to create a competitive atmosphere in Iraq, especially since today there is a balance between demand for currency and supply.”

The Minister of Finance stressed, “The ministry aims to stabilize the exchange rate and will defend it, and government banks aim to support the national economy, not the advances per se,” noting that “the government is not against the advances, but it must diversify the sources to which these advances go.”

He stated, “The relationship with the IMF is good, and it stands with Iraq’s policy of reform, including changing the dollar exchange rate, and during the recent visit to the World Bank, we did not ask for any loan, especially that the financial situation is going better.”

On the other hand, Allawi stressed, “We came out safely from the difficult economic situation, and we have coordination with the Central Bank and cooperation is necessary between the fiscal and monetary policies.”

In the meantime, the Minister of Finance revealed, “The Kurdistan Region has not implemented its obligations regarding the payment of oil prices,” stressing that “the federal government has paid the region’s entitlements, and as a result, the center must be granted oil and customs entitlements.”

He added, “The price of oil obtained by the region is above the equilibrium price by about $10, and for humanitarian purposes, the Council of Ministers granted the region’s salaries according to the Council’s directive and with a reservation of finance.”

He continued, “Our position is neutral, professional and objective regarding the region’s salaries, and it should be given 200 billion dinars per month, and the interest will be about 6 percent in terms of bonds, and we expect a great demand for it.”

He pointed out, “The state’s oil resources are eroding due to the large obligations of salaries and retirement, and the improvement in oil prices does not solve the financial distress quickly, due to internal and external debts,” noting that “the delay in the payment of salaries is caused by massive inflation in Iraq, especially since 65 percent of the state budget goes for salaries.”

He added, “We are not against government employment, but we are against the loss of productivity in the state’s sectors,” noting that “taxes are important in stimulating production and investment, and they are very few in Iraq, as they are not equivalent to 1% of the national income.”

He added that “the citizen has the right to complain about taxes because the method of obtaining them from them is not a proper method, and the state’s resources in Iraq are used incorrectly,” noting that “the tax law will reconsider the issue of tax in Iraq and draw up a new policy and a new law.”

And the Minister of Finance indicated that “the energy sector costs the state $25 billion annually, and we get only 7% of the dues from citizens,” explaining that “reconsidering the state’s financial structure is one of the most important challenges ahead.”

Allawi pointed out that “the cost of managing the state increased by 30% between the two years: 2018 and 2020″.

The minister added, “The sums of the smuggled former regime and property do not exceed several palaces or houses,” noting that “the property of the former regime is not equal to 5% of the other assets that were taken from Iraq.”

And he indicated that “nearly 200 billion dollars were smuggled out of Iraq due to corruption operations,” explaining that “it is not easy to recover these funds and we have started dialogue with the neighboring countries that received our money.”

He stressed that “about 20 billion dollars evaporated from the smuggled Iraqi money in the banks of the countries.”

He added that “the insurance sector in Iraq is really profitable and we want to move it,” noting that “the 30% increase in state costs is caused by the increase in the number of employees, their salaries and incentives.”

And he indicated that “the foreign debt is about 50 billion dollars,” noting that “the debts of the Paris Club have become few after Iraq paid a lot of them.”

Allawi warned, “against entering into any external obligations related to debt,” stressing, “We are in the process of issuing bonds and the Iraqis will not buy them without guaranteeing the payment of interests to them, and this is their right.”

The Minister of Finance explained that “there are about 6.5 million citizens who receive financial dues from the state.”

Regarding compulsory conscription, Allawi stated that “the conscription law has not yet been discussed in the Council of Ministers,” noting that “the Ministry of Defense expects conscription to include 10,000 people, which costs the budget 150 billion dinars.”

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Iraq: We do not need loans from the International Monetary Fund

Iraq: We do not need loans from the International Monetary Fund

العراق: لسنا بحاجة إلى قروض من صندوق النقد الدوليShafaq News/ The Iraqi government announced on Thursday that there is no need to borrow from the International Monetary Fund, describing at the same time the relationship between the two sides as “very good.”

Iraqi Finance Minister Ali Abdul Amir Allawi said in a press conference held at the ministry building in Baghdad and attended by Shafak News Agency, “We do not need loans from the International Monetary Fund now, after we needed nearly 4 billion dollars under the category of economic reform after the improvement of the financial situation.” Noting that “our relationship with the IMF is very good.”

And he added, “There are three axes for obtaining loans from the Fund. First, the corona loans we did not need, the economic reform loans we needed, and the loans to cover the large financial deficits of countries we did not need.”

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Al-Kazemi was impressed by the proposals presented by the National Dialogue Conference in Baghdad

Al-Kazemi was impressed by the proposals presented by the National Dialogue Conference in Baghdad

May be an image of 1 person and textBaghdad – On Friday, Prime Minister Mustafa Al-Kazemi expressed his admiration for the proposals presented during the National Dialogue Conference in Baghdad.

Al-Kazemi stated in a blog post, seen by “Nass” (August 27, 2021), “I was impressed by the proposals presented by the National Dialogue Conference in Baghdad, which included social, professional, cultural and youth figures from all provinces and the reform paper that they voted on.”

He added, “I promised to draw inspiration from the contents of this paper and submit it to the political forces so that it becomes a national pledge and pact that provides an atmosphere of confidence to contest the elections.”

Prime Minister Mustafa Al-Kazemi said, on Thursday, that the people deserve the state, stressing that the time for adventures is over.

Al-Kazemi added, during a speech at the National Dialogue Conference sessions, (August 26, 2021), that “our responsibility is grave, because the main problem in Iraq as we see it was not a problem of demonstrations or the intersection of opinions or ideas, but rather the problem as we understood it is the lack of confidence. And the lack of confidence in any society in the world is a real danger to that society.” He explained, “We have faced a real social crisis, more than just a political crisis, even if its causes are political. When society loses its confidence in official institutions and in the political and electoral process, it is on the verge of losing confidence in the state, and these are the highest stages of danger to any society in the world.”

He continued, “We deeply believe that our people do not lose confidence in the state, so let us understand that the popular movement in Iraq, its essence and depth, is the defense of the state, regardless of the method of expression and the difference in viewing angles on how to practice defending the state.”

Al-Kadhimi affirmed, “We accepted the responsibility according to a road map consisting of three main points: the first is to reach fair, early and early elections.

The second is related to ensuring the security of the citizen and combating uncontrolled weapons. The third is to address the consequences of the painful events that passed through Iraq in the month of October of the year two thousand and nineteen and their repercussions And beyond this history and the fall of dear martyrs from among our youth, while they are demanding their rights.”

And he added, “We focused first on compensating those affected by the families of the October martyrs, and we issued decisions to include them with all the martyrs’ entitlements, and we insisted on this decision despite the presence of political opposition to it, and we did not retreat from taking it to the end.”

He pointed out that “we are still holding on to the election date on the tenth of next October, because we are true to our word before our people. We said in the letter of assignment that we will reach these elections,” saying, “We did our duty and took many steps in terms of supporting the forces and restoring prestige to them to play their role in Protecting the homeland and the citizen and combating uncontrolled weapons and crime, whatever their source.”

He stressed that “the next government must complete this task, and stress the continuation of the momentum to complete building our security and military capabilities and prevent all armed manifestations outside the framework of the state,” stressing that “we are determined to prevent Iraq’s involvement in regional and international quarrels, and we adopted the principles of good neighborliness with our neighbors and friends, and we have prepared Distinguished relations regionally and internationally for the benefit of the Iraqi people.

The Prime Minister pointed out that “the file of foreign relations is at its best for many years, and the Baghdad Conference for Cooperation and Partnership will be held on the soil of Iraq, with broad regional and international participation, which is a reflection of Iraq’s positive foreign policy that opens new doors for cooperation and support for Iraq in all fields, and Iraq restores its size and role.” natural and historical contexts in the regional and international environments.

And he stated, “We formed a legal team of retired judges known for their integrity, which made the greatest stride in collecting facts about the events of October of the year two thousand and nineteen and their repercussions and circumstances from all concerned parties,” noting that “the institutional work of the legal team needs time to ensure its integrity and non-interference.”

In its procedures, we, as a government, left the concerned team absolute freedom to deal with all files related to the executive authority, its institutions, personalities and files, and we also left them absolute freedom to determine the mechanism for announcing the final results of the investigation.

Al-Kazemi stressed that “we faced no less dangerous challenges represented by the economic collapse with the collapse of oil prices, and the challenge of the Corona pandemic, and thank God we have overcome the economic crisis together,” noting that “many parties that do not want good for Iraq did not want us to overcome this crisis, but our people He was vigilant and knew the boundary between the cautious position and the bidding position that traded in the capabilities of the nation, and he realized that the crisis needed real decisions, not political outbidding and shouting in the media.

The Prime Minister said, “We have prepared the reform white paper to be a road map to save the Iraqi economy from the state of slavery in oil prices, and move it to be an effective and productive economy in the coming years,” noting that “what I reviewed here does not represent a defense of the government, and not electoral propaganda; Because, as you know, I am not participating in the elections, but it is a framework that must be clear to understand together the challenges facing this country and the paths that must be established in the next stage.

Al-Kazemi stressed, “I will work hard to ensure that the recommendations of this conference are present in the government’s performance, and I urge all of you to cooperate together as people of one country to move our country from a state of conflict, difference, deterioration, doubts and mistrust to prosperity, development, strength, work and mutual trust.”

He explained that “all these goals do not occur with words only, but through two basic issues: the first is to identify the defect frankly, clearly and courageously. The second is to work to fix this defect, no matter how difficult and painful the matter is, and that we together insist that our people deserve the future and that they deserve to move From chaos to stability.

The Prime Minister said that “our people deserve the state, and reject the non-state, our people deserve their place among the nations of the earth, and refuse to be a playground for conflicts and passions. We must put our hand in the hands of each other, the government and parliament, national political forces, popular activities, clans, youth, women and professional unions, to help our country move forward always, and open future horizons for future generations.”

He stressed that “the time for adventures is over.. Today is our date with hard work, and the elections are the criterion for choosing who will stand up to this work and gain the people’s trust. Participate in the elections and support them. Choose your representatives, and be on the covenant with your people.”

On Thursday, the head of the Independent Research Group, Munqith Dagher, stressed the importance of the outcomes of the “National Dialogue” conference, which is currently being hosted in the capital, Baghdad.

On Thursday, the capital, Baghdad, will witness the activities of the second day of the National Dialogue Conference, with the participation of most of the components, clerics, tribal sheikhs, and academic and patriotic figures from various regions and governorates of Iraq.

Dagher told “Nass” (August 26, 2021), that “the conference has different orientations, aiming for the first time to unify the people’s saying through a written document, as it aims to embody the Iraqi people’s vision, ambition and hopes.”

Dagher pointed out that “the conference turned towards the views of the elites, representatives of the people in general, and activists, rather than towards the opinions of politicians or party activities, with the aim of clarifying the opinion of the Iraqi street on the issues surrounding it.”

The head of the Independent Research Group reiterated in his speech that “the conference wanted to represent the popular forces.”

According to a previous statement to the conference, “Nass” received a copy of it (August 26, 2021), “The goals and message of the National Dialogue Conference included, first, that elections are the primary means of democratic expression, and secondly, the adoption of the constitution, the document that everyone accepted as a governing and just framework, And third, that the political forces in the government and parliament work to ensure the integrity of the elections, and that the upcoming government and parliament abide by the time limits for ending the US combat presence.

The message of the conference included the necessity of respecting peaceful demonstration and protest as a guaranteed constitutional right, strengthening the capabilities of the military, security and intelligence institutions, defining their roles and tasks, preventing and criminalizing sectarian and racist discourse with clear laws, and respecting religious, national and sectarian diversity in Iraq.

The conference called for the formation of a higher committee with broad powers in coordination with the judiciary to scrutinize corruption files since 2003 and to hold the negligent accountable.

The conference urged the formation of a higher committee to audit the currency auction file and the work of banks and banks.

And Prime Minister Mustafa Al-Kazemi launched, earlier, a call for a comprehensive national dialogue and to move away from the language of political slander.

Al-Kazemi said in a televised speech, followed by “Nass” (March 8, 2021), “The Iraqi people bid farewell to His Holiness the Pope with warmth and appreciation. His visit was a bright spot that embodied the essence of our people,” noting that “the message of His Holiness the Pope has reached all parts of the world.”

He added, “The message of our people has reached all the peoples of the earth, for we have suffered many wars, and blood ran on our land until it was drenched, and death spread for decades, its black shadows in our homes.”

He continued, “There is nothing in our hearts but the great meanings of humanity, and we have lived together for more than six thousand years and we are still together. He said, “We hold each other’s hands with the diversity of our religions, sects and nationalities, just as the hands of Mr. Sistani and His Holiness the Pope were united.”

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Al-Kazemi: National dialogue proposals I will present to the political forces to become a national charter

Al-Kazemi: National dialogue proposals I will present to the political forces to become a national charter

الكاظمي: طروحات الحوار الوطني ساعرضها على القوى السياسية لتصبحَ ميثاقاً وطنياًBaghdad / Obelisk: On Friday, August 27, 2021, Prime Minister Mustafa Al-Kazemi expressed his admiration for the proposals presented during the National Dialogue Conference in Baghdad.

Al-Kazemi stated in a blog post monitored by “The Obelisk”, “I was impressed by the proposals presented by the National Dialogue Conference in Baghdad, which included social, professional, cultural and youth figures from all provinces and the reform paper that they voted on.”

He added, I promised to draw inspiration from the contents of this paper and submit it to the political forces to become a national pledge and pact that provides an atmosphere of confidence to contest the elections.

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The Governor of the Central Bank talks about the settlement of salaries and the work of the banking sector

The Governor of the Central Bank talks about the settlement of salaries and the work of the banking sector

محافظ البنك المركزي يتحدث عن توطين الرواتب وعمل القطاع المصرفيBaghdad – The Governor of the Central Bank of Iraq spoke, on Wednesday, about the project to localize salaries and other electronic operations that pertain to the work of the banking sector.

A statement by the bank, which “Nass” received a copy of, (August 11, 2021), stated that “the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, spoke during a lecture he gave at the Defense University for Higher Military Studies, which included introducing the tasks, work and objectives of the Central Bank, in the presence of elite professors The university and a number of officials of state ministries: on the monetary policy followed by the Central Bank and its tools.

The statement added, “The governor also dealt with the initiatives launched by the Central Bank of Iraq and their direct effects in supporting and stabilizing the economic and financial situation in light of the Corona pandemic, and the challenges facing public finances, as his initiatives were assigned to lending small and medium projects to the real sector that was affected by crises and challenges.” .

The statement pointed out that “it also touched on the Central Bank’s procedures in developing the banking sector and correcting some of the approved methodologies, and emphasized the project of localizing salaries and other electronic operations that pertain to the work of the banking sector.”

He continued, “To that, the President of the University and the Dean of the Defense College for Higher Military Studies thanked and appreciated the Governor of the Central Bank for accepting the invitation to visit and the information included in the lecture in a way that serves the Iraqi economy.”

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Former heads of government are absent from the elections.. and leaders who maintained their political momentum

Former heads of government are absent from the elections.. and leaders who maintained their political momentum

May be an image of 5 peopleBaghdad / Obelisk: The Iraqi legislative elections lists are devoid of former prime ministers, a precedent that did not occur, in addition to the fact that the sixth prime minister after 2003, Mustafa Al-Kazemi, will not participate in the elections.

The lists were emptied of five former prime ministers, namely Iyad Allawi, Ibrahim Al-Jaafari, Nouri Al-Maliki, Haider Al-Abadi, and Adel Abdul-Mahdi, as well as Mustafa Al-Kazemi.

But there are those who will be a strong political actor through the bloc he leads, as Allawi participates through the Civil National Front, Nuri al-Maliki through his State of Law coalition, and Haider al-Abadi through the Victory Coalition, which allied with the Wisdom Movement led by Ammar al-Hakim in the name of the State Forces Alliance.

However, Ibrahim al-Jaafari and Adel Abdul-Mahdi seem to be in a state of final retirement, or at least a period of inactivity, while former Prime Minister Nuri al-Maliki maintained his political momentum, while indicators reveal a pivotal role he will play in the elections and the next stage.

Haider al-Abadi will be present through his alliance with Ammar al-Hakim.
Al-Jaafari stayed away from the political spotlight, while Abdul-Mahdi resigned at the end of 2019 against the backdrop of popular protests, and he is no longer officially present in any political party.

The current Prime Minister, Mustafa Al-Kazemi, decided not to participate in the elections.

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