Adviser to the Prime Minister: Corruption is a major reason for investors to stay away from Iraq

Baghdad – The Prime Minister’s Advisor for Reconstruction Affairs, Sabah Abdul Latif Mushtat, confirmed today, Thursday, that corruption is a major reason for investors to stay away from Iraq.

In a statement to the “Under Two Lines” program broadcast by Al-Iraqiya News and followed by the Iraqi News Agency (INA), “there are several factors that have contributed to the low level of Iraq’s attraction to investors, and among these factors are corruption, and the absence of basic design, which is one of the important factors to attract investment,” Mashat said. .

And he indicated that “investment success needs a system of factors, as a vision must be developed for investment,” calling for “the Baghdad Municipality to launch the development plan.”

https://www.ina.iq/154265–.html

Iraq to Re-Open Embassy in Vietnam

By John Lee.

Iraq’s Cabinet has approved the recommendation of the Ministry of Finance to re-open its embassy in the Republic of Vietnam.

It’s decision was made providing it does not lead to an increase in the total number of diplomatic staff.

The representation will be resident, as it had been previously.

(Source: Govt of Iraq)

Iraq-businessnews.com

DEMONSTRATIONS WILL START SUNDAY IN FRONT OF THE BAGHDAD MUNICIPALITY BUILDING TO DEMAND BETTER SERVICES

National News Center/ Baghdad – An informed source said, demonstrations will start Sunday in front of the Baghdad Municipality building to demand better services.

The source said to the “National News Center”, that “large demonstrations will be launched by citizens next Sunday in front of the Baghdad Municipality building near Al-Sinak Bridge to demand better services.”

Nnciraq-com

The Central Bank reveals the amount of money in circulation: 80% of it is hoarded in homes for one reason

Baghdad – The Central Bank of Iraq revealed, on Wednesday, the volume of circulating funds, while indicating that 80% are stocked in homes due to the lack of high confidence in the citizen towards banks.

Ihsan Al-Yasiri, Deputy Governor of the Central Bank, said in an interview with our colleague Karim Hammadi, followed by “Nass” (April 20, 2022): “We have 76 trillion dinars as a source of circulation, 20% of which are deposited in banks, and 80% of them are hoarded homes, and this is a deprivation for society.”

He added, “Hoarding money in homes, which is behind the mistrust of some citizens in banks, regardless of whether they are private or governmental, is a high risk, as these funds may be exposed to damage, burning or theft.”

And he stated, “The Central Bank has set strict standards to control the behavior of banks and we are witnessing a development in performance, knowing that the banks’ control has 3 tracks, the first is improving performance, merging the bank, or withdrawing the bank’s license if the reluctance continues.”

He said, “The government system acquires 85 deposits and the public,” noting that “after 2003, we have a large number of banks, some of which are private, which are excellent and have reached stages in digitization and the digital economy.”

He added, “We have supervision and an attempt to push some banks to be good and rise to the required level, as we focused on controlling the banks’ behavior.”

He continued, “We have 70 private banks, more than half of the number are excellent, while the government has seven banks, namely: Al-Rasheed, Al-Iraqi Trade, Al-Rafidain, Al-Nahrain Bank, which is a model for Islamic banking, and the Housing Fund, while the Industrial Bank is doing well.”

Al-Yasiri stressed that “the enforcement of the law for loans confirms the existence of a guarantee for any dinar that is loaned, and the one who does not have an income from a fixed source must provide a guarantor – the cost of lending is very high, and when there is an interest of 8% on the loan, it is considered very expensive, but if the limits of risks are increased, the risks may be increased.” interest rate increases.

He pointed out that “the Rafidain Bank granted loans to large institutions, and there is a loss of up to 6 trillion dinars in these loans due to the pressures of increasing the interest rate, but part of the risks of non-payment are avoided through them.”

Nasnews.com

An economist acknowledges the difficulty of re-exchange of the dollar to the previous rate

{Economic: Al Furat News} The economic expert, Salah Nuri, acknowledged today, Thursday, the difficulty of re-exchange of the dollar to the previous rate.

Nuri said, via Al Furat News: “It is not possible to restore the dollar’s exchange rate to its previous era as a result of the international factor causing the rise in the prices of basic foodstuffs globally.”

“Even that this factor is considered a strong determinant of decreasing the dollar exchange rate, in addition to other local factors,” Nouri said.

While the economic expert ruled out that “the exchange rate will be considered or reduced again.”

It is noteworthy that the Ministry of Finance responded to news of its discussion of re-lowering the dollar exchange rate against the dinar.

The Undersecretary of the Ministry of Finance, Taif Sami, said in a press statement: “There are no discussions to reduce the price of the dollar to 120,000 dinars within the 2022 budget.”

On April 4, the Federal Supreme Court rejected the case for re-exchange of the US dollar in relation to the Iraqi dinar to its predecessor, at the amount of (120,000) Iraqi dinars for every 100 US dollars.

Alforatnews.iq

A former official: Economic damage will be inflicted on the country if the exchange rate and this option are changed

Special – Mawazine News: The former director of the Financial Supervision Bureau, Salah Nouri, confirmed today, Wednesday, that “great economic damage will be inflicted if there is any change or modification to the dollar exchange rate.”

Nouri said in a statement to “Mawazine News”, that “even if the Ministry of Finance decides to amend the exchange rate to about 130, there are solutions to support the fragile and affected classes by raising the exchange rate.”

He added, “The procedure is to establish sovereign funds to support those segments that have been affected by the amount of their damage from the change, which amounted to 23%. They are compensated through these funds.”

He pointed out that “the Ministry of Finance has made it clear to the citizens about the increase in revenues and the recovery of the treasury.” Ended 29 / 92

Mawazin.net

Al-Kazemi…  and “Save the Homeland” discuss a step away from the majority and consensus government

Shafaq News / An informed source in the “Save a Homeland” alliance, which includes the Sadrist movement, the Kurdistan Democratic Party, the Sovereignty Alliance, revealed today, Tuesday, that the alliance is studying a new step that it may take during the next stage, far from the majority and consensual government.

The source told Shafaq News Agency, “The Alliance to Save a Homeland is seriously considering and studying maintaining the government of Mustafa Al-Kazemi, during the next stage, in the event that the political blockage remains and the suspension of the presidential election session is maintained, and the coalition has prepared the ground for this option by working on the Legislation of the Emergency support Law for Food Security and Development, which will enable the Al-Kazemi government with financial powers similar to the budget law.

And he indicated that “the Alliance to Save a Homeland is considering the possibility of making a semi-comprehensive amendment to the government of Mustafa Al-Kazemi, in the event that it is maintained during the coming period, and the new ministers will be candidates exclusively by the Triple Alliance, and their passing is easy according to the parliamentary majority owned by this coalition,” explaining “The change of ministers will be through dismissal or resignation in agreement with the prime minister.”

The leader of the Sadrist movement, Muqtada al-Sadr, had set on March 31, a deadline of forty per day on what is known as the blocking third consisting of the coordination framework and allied deputies, to form a government independent of the Sadrist bloc.

Al-Sadr’s position came after the Iraqi parliament failed for the third time in a row to hold a session to elect a new president for the country due to the intensification of the dispute between the Triple Alliance (the Sadrist bloc, the Kurdistan Democratic Party, the Alliance of Sovereignty), and the coordinating framework that includes Shiite political forces.

The election of the President of the Republic requires a quorum in which the presence of representatives constitutes two-thirds of their number, or more than 220 deputies out of 329, which was not achieved due to the boycott of the coordination framework that represents prominent Shiite parties, such as the State of Law bloc and the Al-Fateh Alliance, the umbrella under which the loyalist Popular Mobilization factions fall under. for Iran.

Shafaq.com

Arrest Of Government Officials In The Case Of Waste Of Public Money

Earth News / A security source revealed, today, the arrest of government officials in the case of wasting public money

The source told Earth News, “A special security force with teams from the Integrity Commission arrested the former Director General of Water Resources, the Director General of State Real Estate, eight employees of the State Real Estate Department, and a number of treasury employees, against the background of the Al Rabie district case in the central Maysan governorate.” .

He added, “The arrest process was carried out in accordance with judicial orders issued by the Integrity Investigation Court in Maysan, in accordance with the provisions of Article 316 of the amended Iraqi Penal Code No. 111 of 1969, related to the waste of public money.”

Earthiq.news

The Kurdistan Democratic Party confirms the cohesion of the tripartite alliance

Baghdad / Obelisk: The representative of the Kurdistan Democratic Party, Mahma Khalil Ali Agha, confirmed on Monday, April 18, 2022, the cohesion of the “triple alliance”, while the formation of the new government is expected at the end of next May.

Ali Agha said in a statement followed by the obelisk, “The birth of the Triple Alliance (the National Salvation), is as an electoral entitlement, as this alliance will not be against anyone, but rather to save Iraq from the situation it has reached.”

He added, “This alliance is more coherent than ever, as it is communicating with the blocs to get Iraq out of the political blockage, and it is continuing to form a professional service government based on integrity and efficiency, at the end of the fifth month.”

He pointed out, “The influential leaders of the coalition are continuing to achieve the rights and demands of the Iraqi street as well as its national entitlements according to the circumstances and the data of the stage, preserving the unity and sovereignty of Iraq, and fighting corruption and terrorism, for its absolute belief that they are two sides of the same coin, as well as strengthening federal institutions, securing the return of the displaced and granting them their rights.” The legal constitutionalism lost materially and morally, and the security of their devastated areas.”

The leader of the Sadrist movement, Muqtada al-Sadr, seeks, through the tripartite alliance, to form a national majority government, while stressing the exclusion of the “State of Law” coalition led by al-Maliki, but the rest of the Shiite forces within the “coordinating framework” reject this and demand a consensual government in which all political forces in Parliament participate. Similar to previous courses.

Almasalah.com

Al-Kazemi’s government creates a “miniature model” of the budget, and its advisor acknowledges the “failure” of the white paper

Baghdad / The economic advisor to the Prime Minister, Mazhar Muhammad Salih, acknowledged, on Monday, that the reform white paper approved by Mustafa Al-Kazemi’s government had not achieved the required achievements, indicating that the food security law is a “model” of the budget and needs urgent scrutiny by the Financial Control.

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In a televised interview, Saleh said, “The White Paper achieved very simple things.”
He added, “There is no accurate statistic that counts agricultural crops and national products, and that tax evasion (there is neither a head god nor a sassy god) is due to chaos and tax evasion.”

He explained, “The ability that brought the emergency support law to Parliament can deliver the budget, but the emergency support will be an alternative to the budget in the event that the political blockage remains, and he is a legislator who wants to show a miniature “model” of the budget.

Regarding the number of employees and the possibility of their demobilization, Saleh said that “the number of employees has greatly inflated in Iraq, while the number of retirees has doubled recently, and it is difficult to lay off employees, and this will not happen in the worst circumstances.”

Saleh pointed out that “4 million retirees receive salaries from the budget and from the retirement fund, and that the retirement fund needs a very urgent review.”

Almaalomah.me