Deputy for Asrun: Nomination of Fayyad will not pass and deputies to the building reject him

(Baghdad: al-Furat News) The MP from the bloc of Saasron, Badr Zeidi, that the nomination of Faleh al-Fayadh for the bag of the Interior “will not pass” in parliament.
“We did not find anything new for this government because its president, Adel Abdul Mahdi, came in agreement and he had to come ministers according to the conditions set by others and the opening of the selection of ministers of interior professionals,” Zeadi told the news agency Euphrates News.

He pointed out that “the insistence of Abdul Mahdi on Faleh Fayyad is contrary to the terms of the formation of the government, and can not pass the evidence of the passage of five sessions of parliament and was not voted on.”

“We have an objection since the formation of the government on Fayyad and our insistence against him is not disloyal to the government, and Abdul Mahdi to know that the rest of the reform and the whole of the objection to his candidacy.”

He added that “the construction block and Hadi al-Amiri announced not to nominate Fayadh,” noting that “the insistence of Abdul-Mahdi is strange and continuous and he knows that the nomination of Fayyad will not pass and he must change the candidates.”
Zayadi said that “half of the members of the building block do not want to nominate Fayyad and want to vote secret to prevent embarrassment from the mass.”

“The voting process on the candidates, including the Ministry of Education and Defense, is a problem and the votes were not enough to pass the education minister and parliament speaker Mohamed Halboussi announced that the votes, if inaccurate, would be re-voting,” Ziadi said. .is over

Alforatnews.com

Urgent : Government must respond to demands to remove US forces from Iraq

“We will not accept the presence of any foreign troops on the ground in Iraq, not even fixed bases, “The Iraqi government must respond to the calls for the withdrawal of foreign and American forces from Iraq,” he said in a speech to the fourth anniversary of the Liberation of Dhuluiya in Salahuddin province, adding that “we did not agree to the presence of any force, even if it was for training.”

“We extend our sincere thanks to all Islamic resistance factions that have set up tournaments and positions that history will create,” he added.

“We must thank the Islamic Republic of Iran for standing with us in the battle of truth against falsehood and its support for Iraq and the Iraqis in their eternal struggle against terrorism.”

Amiri said in his talk about the current situation in the country, that “if there is no real battle against corruption can not promote Iraq and its reality of service, health and economic.”

Alforatnews.com

BGG ~ This is complete political BS out of the Amiri camp. There is ZERO chance the US pulls out of Iraq. We pulled out of the Syrian north – nothing more. If they give us any flak we can stop any threat with a barrage of Tomahawks – just like last time. Further, this has little to do with the economic investment we have made. Other than, while they move toward economic re-integration they act like little kids spitting in our eye.

Al-Tamimi: Iraq will borrow from 21 foreign parties in the budget of 2019

Baghdad today – A member of the House of Representatives Magda Tamimi, on Saturday morning (29 December 2018), that Iraq will borrow, according to the draft federal budget law for the year 2019, from 21 foreign parties.

“Borrowing in the 2019 budget from 21 third parties without domestic borrowing,” Tamimi said in a tweet through her Twitter account.

She added that “the Ministry of Electricity alone will borrow from 15 parties.”

She explained that the parties to borrow from the Ministry of Electricity: “14 of them external and only one domestic destination.”

“The 2019 budget is going in the wrong direction,” she said.

The House of Representatives is expected to resume its sessions after the New Year holiday, to pass the bill, which was returned by the government back to him, after making minor adjustments.

The Council had made 47 observations on the budget law prepared by the previous government, and sent back to the current Council of Ministers, for the purpose of amending.

Baghdadtoday.news

Agenda of the visit of the Jordanian delegation to Baghdad today

(International: Euphrates News) Jordanian Prime Minister, Omar al-Razzaz, begins a visit to Iraq today, headed by a large ministerial delegation.

During the visit, Al-Razzaz will meet with his Iraqi counterpart Adil Abdul-Mahdi to discuss the future of cooperation in various political and economic fields, in the interests of the two countries.

Al-Razzaz and the accompanying ministerial delegation are also holding extensive discussions with the Iraqi side to discuss ways of achieving economic integration between the two countries, increasing the volume of trade exchange, consensus on the procedures of trade lines, completing the construction of the oil pipeline and oil imports. Of expertise and competencies, and other fields.

The Jordanian delegation includes ministers of municipal affairs, transport, finance, industry, trade and supply, the state for information affairs, energy and mineral wealth, telecommunications and information technology.

The visit comes within the framework of the Jordanian government’s efforts to expand the horizons of cooperation and exchange with neighboring countries, thus contributing to supporting the national economy and enabling it to overcome challenges and self-reliance.

Alforatnews.com

Jump oil prices

The price of crude oil jumped about 3 percent on Friday to offset part of its losses in the previous session, but the growth of US stocks and continuing concerns about the global economy kept the markets under pressure.

Brent crude futures rose 2.26 percent, or $ 1.18, to $ 53.34 a barrel at 0219 GMT, after rising by 3.1 percent earlier. Brent futures fell 4.24 percent, or 2.31 dollars, to settle at $ 52.16 a barrel on Thursday.

West Texas Intermediate crude futures jumped 2.26 percent, or 1.01 dollars, after rising 3.6 percent earlier. US crude was down $ 1.61, or 3.48 percent, at $ 44.61 a barrel.
On Thursday, oil prices fell to their lowest level in more than a year, a day after their biggest daily gain in two years, under pressure from concerns about the global economy and oversupply.

Alforatnews.com

Abadi refused Trump’s visit to Iraq: not commensurate with diplomatic norms

BAGHDAD (Reuters) – President of the al- Nasr coalition Haidar al-Abadi said on Thursday that he rejected the visit by US President Donald Trump to Iraq , pointing out that this method would harm the bilateral relations between Iraq and America.

“We reject the way in which US President Donald Trump’s visit to Iraq took place,” Abadi said in a statement. “This method is not commensurate with diplomatic norms.”

Abadi said that “dealing with Iraq and sovereignty in this way will harm the Iraqi-US relations,” calling on the countries of the region and the world to “realize that Iraq is strong and dear and sovereignty is in the interests of security and stability in the region and the world.”

Trump reveals fears that accompanied his visit to Iraq: We were taken by a dark plane

Suron: Trump’s visit is a provocation to the victims of terrorism and an indication of how much the Great Satan has taken lightly
He added that “the reconciliation requires the support of Iraq to strengthen its unity and security and prosperity and sovereignty,” pointing out that “the achievements and victory achieved by Iraq and the fullness and defeat of the fighters will remain large, and dazzled the whole world through which the imposition of Iraq signed in the region and the world and can not go back.”

The White House said Wednesday that US President Donald Trump had arrived in Iraq and that Trump had denied any plans to withdraw his troops from Iraq.

The office of Prime Minister Adel Abdul Mahdi said that the US authorities informed the Iraqi authorities of the visit of US President Donald Trump to Iraq, adding that Trump invited Abdul Mahdi to visit Washington

Source: Alsumaria.tv

BGG ~ Who cares what Abadi thinks, at this point? He’s not any major part of the GOI… certainly not the PM. He and his posse met with President Trump and was labeled a career criminal. Maybe it’s good he’s gone.

Some “unnamed element” of Sadr’s bunch is creating some back-lash, but this too sounds a lot like political wrangling.

The bottom line is… the Mahdi GOI was notified (in accordance with all known protocols) and Mahdi was invited to Washington in exchange. Nothing to see… 0ther than our POTUS showed up in a hostile area to visit the troops over Christmas.

Kurdistan Democratic Party (KDP) politburo member Hoshiyar Zebari

SULAIMANI — Kurdistan Democratic Party (KDP) politburo member Hoshiyar Zebari criticized Iraq’s top leaders on Thursday (December 27) for not meeting with US President Donald Trump, describing it as a huge shock.

“The refusal of the Iraqi president, prime minister, and parliamentary speaker to meet with the US president was much more shocking than Trump’s surprise visit to Iraq to visit with American soldiers,” he wrote on his official Facebook page.

According to protocol, they should have been hand to welcome the president in order to protect Iraq’s image and dignity.

“The previous cabinet used to receive senior US officials in honor of the esteem and sovereignty of Iraqi soil and status,” he added.

Hoshyar Zebari is a former Iraqi foreign minister and finance minister. He was removed from his position as finance minister by parliament for corruption.

Source: Nrttv.com

The Central Bank of Iraq the first economic institution in Iraq for 2018

Although I respect the other opinion issued by politicians or specialists in the economy and money, some of them live with us the concerns and challenges experienced by Iraq and its people and some of them living outside Iraq, but I have differed with the opinion that tries to diminish and diminish the character of the achievements of Iraq in the face of economic and financial crisis during the past four years The most difficult stage experienced by Iraq in previous years.

On the occasion of the end of 2018 and the reception of a new year decided to review and analyze and establish the neutrality and transparency of the economic situation in Iraq through his career for the past four years and in particular has been achieved by the ministries and economic institutions in Iraq from the point of view of a specialist and expert and researcher in economic and banking matters reached the facts and indications and signals And achievements confirm that the Central Bank of Iraq proved to be the first economic institution in Iraq for 2018 through its important achievements in support of the national economy and achieve economic steadfastness and seek to achieve economic stability in accordance with the strategy in 2020 and Lotto Ih is based upon the facts in order to say that the central bank was first in the 2018 is the following: –

After mid-2014, Iraq suffered two security and economic shocks due to the war on terrorism on behalf of the world’s countries and the fall of oil prices, Iraq’s main supplier, by more than 70%.

Therefore, the men of Iraq must confront these two shocks, since such confrontations have their customs and laws. In the military custom, the armed military forces can not achieve victory over the enemy without a civil and economic effort. The private sector is the economic effort that contributes to decisive military victory. This is what the Iraqi National Bank’s distinguished team has already achieved.

It asks the Arab and international economic organizations and observers of the economic movement of countries and their experiences in overcoming the crises and achieving economic reform to assess the stage of the previous four years in which our country faced an economic and financial crisis suffocating the well-known causes in which victory is achieved on terrorism accompanied by another victory is the steadfastness and economic victory which was In which the Central Bank of Iraq and its governor plays a key role in achieving it. The most important of these is the support of the state treasury, the stability of the exchange rate, the recovery of the Iraqi dinar, the reduction of inflation, the maintenance of its share of less than 2%, the preservation of a 160% cash reserve as a cumulative accumulator according to the latest IMF standard, Excellent record rate.

In addition to its adoption standards and controls consistent with the requirements of international standards in compliance and combating money laundering and financing of terrorism and the basic objectives and subsidiary strategy set up to 2020 and the activation and consolidation of new visions of monetary policy applications and the important thing that is achieved is the exchange rate stability in 2018 and reduce the gap between the official price of the US dollar And the parallel price, which is a fundamental objective of the monetary policy and the implementation of policies to restore confidence in the banking transactions of the Iraqi banks with Arab and foreign banks and the quest to build a solid banking sector and the continuation of extraordinary efforts to feel Banking reputation of international financial institutions and organizations and correspondent banks.

And building strong relations with Arab and foreign central banks and international financial organizations. Also, procedural, regulatory, structural and internal development policies were designed to achieve financial stability and develop the banking business technically, structurally and organizationally and raise the percentage of financial coverage to the target ratio. And the mechanisms of banking which formed a solid base on the domestic and external scale.

At the same time, I congratulate and congratulate the sons of my Iraqi people and their brave military and security forces on the victory over terrorism and its eradication from the land of Iraq and your cooperation with the Central Bank of Iraq for its contribution to achieving economic steadfastness and decisive victory over terrorism. With sincere wishes for a new Happy New Year and to take the steady steps of radical economic reform and comprehensive and that the new government will be able to implement its governmental platform in the axis of strengthening the national economy and the development of the governmental and private banking sector.

Economy-news.net

Iraqi Central Bank: We seek additional exemptions from Iran sanctions

BAGHDAD (Reuters) – Talks with the United States on additional exemptions from Iran’s sanctions

In an interview with “The New Arab”, Muhsin al-Alaq, Acting Governor of the Central Bank of Iraq , talks about a difficult monetary and financial stage that has passed through his country, with the security situation deteriorating and oil revenues falling , as well as the repercussions of sanctions on Iran.

And to the text of the dialogue:

What has been achieved by the Central Bank of Iraq after the stability of the security situation in the country during the recent period?

We have passed an important and dangerous stage at the security and financial level in previous years, and the central bank has accompanied the difficult stage in fighting of another kind, represented by trying to maintain economic, financial and monetary stability.

The legacy of the past years of destruction, destruction and decline in services and infrastructure has led us to think about strengthening the development orientation of our work. Of course, the Central Bank of Iraq has a role in this matter, considering that the banking sector can mobilize the resources necessary to develop the development process, in addition to the initiatives carried out by the Central.

From here we launched financing initiatives amounting to $ 6 billion in the industrial, agricultural and housing sectors, which are perhaps the largest in the history of Iraq.

I mentioned earlier that during the fall in oil prices oil revenues fell 70%, what did the Central Bank in the light of this crisis?

There was a big challenge and a difficult situation, and the Ministry of Finance announced in early 2016 its inability to pay the salaries of employees. Here, we immediately announced that things can be arranged, fearing the collapse of the general situation.

The central bank law allows him to buy treasury funds (a borrowing instrument) belonging to the government, and both the Rafidain and Rashid banks have joined them, so it became indirect financing, and of course there were no options.

In addition, Iraq received some funding from the Bank and the International Monetary Fund, but the amounts were small relative to those provided by the Central Bank, we have put a high interest on remittances equivalent to those in force in the market, so that the Ministry of Finance is keen to pay, We released a portion of the reserves of banks to buy treasury transfers, and these amounts amounted to about 20 trillion dinars within two years, or about 18 billion dollars.

We see the stability of inflation at 2%, while in Iraq there is a decline in purchasing power and a rise in the rates of poverty and unemployment, how to explain this paradox?

On the one hand, there is government spending, which is mostly consumption, so there is a recovery in the commercial sector, but this activity does not generate jobs. In contrast, the productive sector is still lagging behind in this framework, while it is the job-generating field.

Therefore marginal activities are still dominant, leaving large numbers of unemployed, especially among graduates who do not find jobs suited to their specialties. There is also a weakness in investments and projects, which accumulates unemployment rates, so the central bank as the closest sensor to the economy is trying to stimulate productive sectors.

Is the independence of the central bank in any country essential to be able to control the economic indicators, to what extent this condition is available in Iraq? Are we critical of the impact of negative fiscal policies on the monetary sector, while the Central Bank is a financial adviser to the government?

The truth is that there is no direct impact or intervention, but there are indirect effects, and lead to significant implications for monetary policy. In terms of financial policy subject to security and political conditions and changes more than subject to the standards of fiscal discipline that are consistent with monetary policies.

Even the Ministry of Finance, although it takes a lot of pressure into consideration, but the budget prepared by subject again to the political review in the House of Representatives (Parliament) and many of its items, so the nature of expenditure and income and deficit and type of monetary policy.

What about the high levels of corruption linked to the coverage of the central bank funding gaps left behind?

Corruption affects everything, including the economy, investment, the work environment and others. The central bank, which works better when economic and investment performance is sound, is affected. When the administrative and institutional system is effective, it eases pressure on the central bank and makes resource mobilization and movement transparent, clear and geared towards the right goals. Therefore, corruption is certainly a source of threat and impact on the overall economic situation, and therefore on the central bank, which aims to achieve economic stability.

How does the central bank deal with expanding US sanctions on Iran, especially as there are deals that need payments in dollars, specifically in terms of gas and electricity?

As for the central bank, it has a situation of adjustment to the sanctions. The dollar deal with Iran has been suspended since 2012. In practice, such transfers can not be made, since any payments in this currency will continue in the US financial system and will stop. Therefore, Iraq used to pay in currencies Other.

With the expansion of the embargo and the reservations of States, options have become limited even in settling payments in currencies other than the dollar. At the same time, there are essentialities linking Iraq with Iran, including gas and electricity.

Currently, there is an understanding with the US side to try to sort it out or get some exceptions. The talks have gone a long way and this issue may be resolved soon, probably within days.

How does Iraq approach the AML / CFT standards?

This issue is new to Iraq, as a new phenomenon and as a procedure. There have been no private entities involved in this area in the past. Since we assumed the task of managing the Central Bank, we have given great attention to this issue, through the formation of an independent department to combat money laundering and the financing of terrorism and supported by the necessary administrative, financial and even independent capacities.

At the same time, we have been working on a new law, with about 70% of the gaps in this area due to the lack of legislation. Therefore, we focused on this issue and issued the law in 2015, and prepared according to the best international standards in partnership with the relevant international organizations on this file.

Following this law, several measures have been taken in terms of issuing regulations and regulatory and regulatory rules, since this file concerns many sectors. When we started in the gray zone and during this year we came out of the last phase, the continuous follow-up phase, and we are like other countries in the application of international standards.

Is the Central Bank able to control the banks operating in all of Iraq, in terms of money laundering and terrorist financing? Do the banks really adhere to the generalizations of “Central”?

The CBI has strict control over banks and strict application of the principle of “Know Your Customer”. Frankly there is great progress in implementation, because the central bank’s procedures are strong and strict, and we have office and field control.

On the other hand, this issue is of international concern, and if the bank fails to comply with the criteria, it will therefore fail to deal with its external transactions. Today any bank that does not have foreign transactions will become a local shop.

Therefore, there is a commitment by banks and cooperation in providing technical support, capacity building, training and others. There are also tests for workers in these sectors, in conjunction with the establishment of anti-money-laundering units in each bank and compliance units.

We note that there is a problem of confidence in the Iraqi banks by the citizens, coupled with the failure of Mali to take over a number of banks in the past years, does the Central Bank intervene to impose an increase in the capital of banks on the one hand, and compensate the depositors on the other hand?

When we take the number of troubled banks to the total banks operating in Iraq, the ratio becomes normal. There are fewer than 5 banks now out of 70 working banks.

Banks face challenges with existing general conditions, and on the other hand there are many problems associated with citizens’ commitment to banks. When there are circumstances associated with security, political and other disintegration, there is an excess of law and a lack of commitment to pay. Most banks are new and when there are many borrowers who do not pay their installments, there is a default. There are more than 6 trillion dinars ($ 5 billion) of non-performing loans, out of 37 trillion dinars.

During the financial crisis experienced by Iraq, we had alarming indicators linked to about 10 banks, and we entered the line and put some procedures and amendments and we were able to address a number of problems and left only 3 to 4 banks need some treatments.

Was there a cash subsidy for troubled banks, or was it used for the reserve set by banks at the Central Bank to compensate the depositors?

So far we have not offered any direct monetary support, but we have paid for actions within troubled banks, and we have pressed to reduce some expenses or liquidate some assets from real estate and others, so far there has been no bankruptcy in the sector, and we avoid this move. Most of the depositors are new and “boasted” in recent years, and we do not want to hurt them.

For example, there was a bank that was the worst among troubled banks, Dar es Salaam. We applied the idea of a “bank bank”, a bank directly to the Central Bank of Iraq, which is operated for two to three years, enabling it to become ready for sale. Within this project, we turned the depositors into shareholders in the bank, which keeps their money.

Source: Alaraby.co.uk

US Forces to Leave Syria, be Stationed in Kurdistan: Report

ERBIL – The United States is reportedly trying to strengthen its presence in the Kurdistan Region, a report said, pointing out that those US forces who are expected to be pulled out of Syria, will be stationed in Erbil province.
Earlier on Wednesday President Donald Trump said that he would withdraw the US troops from Syria, stating that the war against the Islamic State (IS) is over in the region and that the militant group was defeated.

Iraqi Media al-Hurra TV channel cited an official from the US Department of Defense as saying that his country would soon evacuate 2,130 soldiers from Syria and that will deploy them to Kurdistan Region’s Erbil province.

Earlier the year on April 23, US Ambassador to Iraq Douglas Silliman announced the establishment of a new Consulate building in Erbil in cooperation with Kurdistan Region (KRG).

“The building will be a tangible sign to the continuous commitment of the US to engage with and assist the KRG and its people to build a strong region, within a unified, democratic, and prosperous Iraq,” the US envoy was quoted by Kurdistan 24 during a press conference in Erbil where the former Consul General Ken Gross was attending, as well.

Basnews.com