Wednesday, April 29, 2020

WOTS WED APR 29 2020

The Markets:
The Asian Markets closed mixed  NIK closed down .06%  HSI  closed up .28%  SHANG closed up by .44%

Futures are currently in the green DOW up by .60 at 24191   SNP   up by .26%  NDX up by .44% 
Uk markets  are trading mixed none higher or lower then 1%

Precious Metals:
Gold is red at $1706    Silver is green at $15.50    Copper is green at $ 234   Platinum is green at  776

Brent  21   WTI  14

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1186.0000  1195.0000 1191.8000 1191.4000 1191.8000  -0.9000 23:17
 USD/VND  23444.0000  23447.0000 23427.5400 23427.5400 23427.5400  1.2700 01:30
 USD/CNY  7.0744  7.0764 7.0798 7.0711 7.0778  -0.0044 04:58
 USD/KWD  0.3091  0.3101 0.3093 0.3091 0.3092  0.0000 04:43
 GBP/USD  1.2416  1.2418 1.2485 1.2413 1.2421  -0.0006 04:58
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  97.5000 06:03
 USD/IDR  15323.0000  15328.0000 15401.0000 15299.0000 15377.0000  -59.0000 04:55


Things in the News:



Iraqi Articles:

Source for Euphrates News: a prospective speech for the Prime Minister-designate soon

link
Prime Minister-designate Mustafa Al-Kazemi will deliver a prospective speech tonight on the developments in the formation of his cabinet.
An informed source had revealed that the Prime Minister-designate, Mustafa Al-Kazemi, had signed the government curriculum for his cabinet.
The source said to {Euphrates News} that "Al-Kazemi signed the government curriculum in its final form and will send it tonight to the Presidency of the Parliament."
It is said that Kazemi, being intense negotiations with the political blocs to form a ministerial his booth, and announced yesterday rejected any pressure , "undermining the state"

Proposals and solutions for the Iraq budget crisis 2020
 A number of officials, deputies, economies, and bloggers have deliberated a number of proposals and questions in order to overcome the crisis in the budget for the year 2020, in light of the decline in world oil prices, and I would like to offer some answers about these proposals and questions as follows:
1- The possibility of the Iraqi state printing the Iraqi currency outside the framework of the monetary block agreed to be issued by the Central Bank of Iraq (a new cash issuance) without the presence of a cover of gold and foreign currencies, which provides funds for overcoming the crisis in the budget for the year 2020?
The answer here is that there is no such solution in modern Iraqi financial thought after the year 2003, just as the Iraqi Financial Management Law and the Iraqi Banking Law that includes the Iraqi Central Bank Law prohibits the issuance of a new currency without the cover of gold and foreign currencies, just as the international organizations that monitor the work of Iraq and issue its report Annual financial about Iraq prevents Iraq from such a measure that shakes the value of the Iraqi currency and thus weakens the Iraqi economy and causes economic inflation, knowing that the Iraqi currency is printed continuously but within the framework of compensation for damaged money within the monetary mass issued by the Central Bank of Iraq J amounting to approximately 48 trillion Iraqi dinars.

2 - The possibility of the Iraqi state to raise the value of selling the dollar as for the Iraqi dinar in the window of currency sale, which provides new money for overcoming the crisis in the budget for the year 2020?
The answer here is that the countries usually seek to raise the value of their local currency against foreign currencies, not the other way around, because that such a procedure will cause a loss of deal confidence and long-term savings in the Iraqi currency. Example: The Central Bank of Iraq is currently selling the (1) US dollar at 1190 Iraqi dinars sold in the Iraqi market at (1210) Iraqi dinars, assuming that the Central Bank of Iraq sold the (1) US dollars at (1290) Iraqi dinars it will be sold In the Iraqi market at the price of (1500) Iraqi dinars and more, and that is not Reason for the high dollar price of 100 Iraqi dinars, but because of the loss of confidence in the handling of the Iraqi currency, and it will cause a significant rise in prices with the survival of the level of salaries as it is causing a turning large layer of Iraqi society from the middle class to the poor layer.
This is similar to what happened in Lebanon during this period, when the Central Bank of Lebanon reduced the value of the Lebanese pound (float) from (1700) pounds to one dollar to (3000) pounds to one dollar, but the price of the Lebanese pounds collapsed in the market to 4,500 pounds to one dollar and could not The Lebanese state has control over the currency rate. We do not want to repeat these mistakes in the Iraqi economy.
3- Possibility of the Iraqi state to sell oil futures contracts (two oil coupons) to Iraqi citizens?
The answer here is that selling bonds to citizens in exchange for interest will change according to oil prices in the future. A possible proposal if it is included in the 2020 budget law. As for selling oil coupons to citizens, it needs (Iraqi Oil and Energy Law No. 9 of 2007 change - finding stores for this oil because oil companies You will extract it - get international approval from OPEC +) and this proposal is difficult to achieve.
As for the mechanisms and how to get out of this crisis without harming the Iraqi economy, it is possible to provide available solutions as follows:
1- Structuring the 2020 budget for an operational budget and a budget for basic needs of Iraqi society (salaries + drug and food security) and leaving the investment budget for oil price fluctuations, as the price of oil rises to be implemented with a supplementary budget, but if the transformation does not rise for the next year 2021.
2- Structuring the 2020 budget for an operational budget with basic needs, covering the investment budget through internal debt from Iraqi banks or offering bonds with interest to the Iraqi community, to be paid when oil prices rise.
3- Structuring the 2020 budget for an operational budget with basic needs, and covering the investment budget by withdrawing part of the balance of the Central Bank of Iraq in the form of central treasury transfers to the state to be paid by the state when oil prices rise exactly as it did in 2015.
In conclusion, it must be noted that the Iraqi state received approximately $ 1280 billion dollars during the past 17 years, with a surplus of 200 billion dollars during these years. Now, once oil prices drop for two or three months, financial officials and deputies of the Finance Committee say they will cut rates of salaries or declare bankruptcy! !!! Does this talk make sense? Where are these billions? Where are planning in Iraq? Where are financial minds?
 Assistant teacher at Baghdad College of Economic Sciences

The official newspaper talks about the scenes of the "decisive" meeting of the Shiite forces: a green light for the person charged

The official newspaper, Wednesday, shed light on the developments of the file of the Cabinet of the Prime Minister-designate Mustafa Al-Kazemi, noting that the taxpayer has made good progress.  
And Al-Sabah newspaper stated in a report that was followed by “Nass” today (April 29, 2020) that Al-Kazimi “received a green light to present his government program in preparation for submitting his cabinet to Parliament.”  
The following is the text of the report:  
Parliamentary sources confirmed that the Prime Minister-designate, Mustafa Al-Kazemi, had gone a long way with understandings regarding the cabinet, and that the Shiite blocs had given him the green light to present his program and the cabinet to Parliament and the request for a special confidence-granting session early next week.  
While the State of Law coalition and Sadiqin bloc denied identifying specific names in the next government, the independent deputy, Basem Al-Khashan, pointed out that most of the political blocs imposed names in Al-Kazemi’s booth, and drew Kurdish MP Ala Talabani, that political forces sought to force Al-Kazemi to accept their terms in the distribution of ministerial portfolios.  
Jassim al-Bakhati, a deputy for the al-Hikma movement, said in a press statement: "Although the current was absent from the meeting of the Shiite political blocs, which ended late Monday night, but its position remains consistent in support of the Prime Minister-designate and with the Shiite consensus in the issue of distribution of the cabin Ministerial while remaining reservations about its mechanisms. "  
Al-Bukhati added, “The meeting of the Shiite political forces in which everything related to the cabinet cabinet and electoral spaces was decided, and it was agreed to cooperate to cross the stage,” noting that “the messages that we received from within the meeting were positive about passing the next government.”  
A parliamentary source confirmed that the meeting of the Shiite political forces yesterday evening gave the green light to the Prime Minister-designate to present his program and the cabinet to Parliament and submit a request to hold the voting session early this week.  
Next.  
In the context, the deputy of the Iraqi Forces Alliance, Muhammad al-Karbouli, said in a press statement that "everyone is still supportive of the Prime Minister-designate Mustafa al-Kazimi, but the problem lies in the distribution of quotas, where the dispute is now concentrated," noting that "al-Kazimi is going inside Parliament."  
He added that "Al-Kazemi is now in the process of settling his differences with the Shiite blocs, which seem to have come a good way in the framework of the understandings."  
However, the MP from the Alliance of Alliance Badr Al-Ziyadi believes, in a press statement, that Al-Kazemi failed from the beginning and did not benefit from his predecessors in forming the government, when he went towards the quota system and gave freedom to some political blocs to choose names to obtain ministerial positions in his government, and therefore was rejected The government formation by most of the Shiite component blocs.  
Al-Ziyadi added that Al-Kazemi’s position became difficult because he could not choose an integrated ministerial cabinet, indicating that in the coming days his position will be very difficult.  
Al-Ziyadi indicated that the prime minister-designate has two paths before him: either he goes toward choosing an independent booth and therefore will be rejected by political blocs that are still seeking to obtain the spoils and positions according to the quotas, or towards "apology".  
While Kurdish MP Ala Talabani drew, that "some blocs cling to some positions and ministries and put a veto on some of the candidates, and work to impede the formation of the government," noting that "I do not think that the blocs want to overthrow Al-Kazemi, as was done with his predecessors (Adnan Al-Zrafi and Muhammad Allawi), But she wants to submit it to her conditions, and that the price of her approval for him to accept the conditions dictated to him. "  
And apparently in response to the political blocs imposing their conditions on Al-Kazemi, the head of the State of Law coalition, Nuri al-Maliki, said in a statement received by "Al-Sabah": "The media space is witnessing irresponsible words and incorrect news about the formation of the government," stressing, "We have made with others and we are still, Intensive efforts to produce a coherent government that is truly representative of the interests of Iraq and capable of responding to crises with an efficient professional team. "  
Al-Maliki added that "the coalition of the rule of law continues with the partners in accomplishing this difficult task, but we are really told, we did not nominate any minister to any ministry, and the assigned brother asked us to participate in the nomination, but we refused that, and we said frankly, what matters to us is that the government Powerful and capable of assuming its constitutional responsibilities, and the ministry and the site do not interest us as much as the ministerial formation concerns us. "  
In the context, the representative of the Sadiqin bloc Saad Shaker Al-Khazali confirmed, in a press statement, that "the bloc will not be represented in the meetings of the political leaders with the Prime Minister-designate Mustafa Al-Kazemi after she and the other Al-Fateh forces authorized its leader, Al-Amiri," noting that "the Sadiqin did not impose any Conditions or specify specific names for Al-Kazemi in his next booth. "  
Khazali added that "the Al-Fateh Alliance is the most visible political bloc, due to the existence of a unified vision for all the regular forces under the Alliance, as well as having a clear vision for the next transitional period, especially his eagerness to commit to holding early elections."  
In the meantime, the MP of the Kurdistan National Union bloc, Dylan Ghafour Salih, pledged the Kurdish position towards Al-Kazimi's booth, with the results of the Shiite house negotiations with him, stating that the Kurds are dealing with the formation of the government according to what others will deal with. But if the other blocs do not demand the nomination of specific persons, we will deal with the same framework.  
Saleh added, in an interview with "Al-Sabah", that the Kurds will not be a factor of destabilization or a problem in the formation of the government, but will go to the way the rest of the partners deal and wait for the results of the consultations inside the Shiite house, explaining that if the prime minister-designate chooses anyone for a specific ministry according to his measurements and with approval Political blocs without their interference in the choice will not have the Kurdish component of any objection, but if the intervention of the bloc demanded its ministerial entitlements, the Kurdish will demand exactly the same. 

political analyst: the current situation will lead to the exit of employees with millions of demonstrations topple the government

Political analyst Ali Al-Waeli said today, Tuesday, that the government of designate Mustafa Al-Kazemi will not last long and may fall at the hands of state employees as a result of the financial crisis in the country, pointing out that the absence of treatments for the current situation will lead to the exit of employees with millions of demonstrations toppling the government.
Al-Waeli said, "Resorting to deducting employee salaries or reducing part of the allowances will lead to great anger by employees, especially those with lower grades."
He added that "Mustafa Al-Kazemi's government, in the event that it is not able to extricate Iraq from the financial crisis, it will fall at the hands of employees, as there will be millions of demonstrations for most of the employees, especially the owners of contracts and wages who received the appointment and did not pay them salaries."
And, "The anger of the employees who number more than 3 million employees will make the life of the government very short, as dropping it this time will not be the result of political or popular demands, but rather because of the failure to find solutions to the financial crisis."

Source: Al-Furat News: Al-Kazemi signed the governmental curriculum and sent it tonight to the 

parliament presidency


An informed source revealed that the Prime Minister-designate, Mustafa Al-Kazemi, signed the government curriculum for his cabinet.
The source said to {Euphrates News} that "Al-Kazemi signed the government curriculum in its final form and will send it tonight to the Presidency of the Parliament."
It is noteworthy that Prime Minister Mustafa Al-Kazemi is conducting intensive negotiations with the political blocs to form his cabinet, and announced yesterday evening his rejection of any pressure that "undermines the state."

CBI, ISX,Dinar Guru:
CBI Update:   They went back to 1190.000 as opposed to 
 
Click on the link above for the latest update.

The CBI for rate is 1190.

The currency auction total sales amount $ 176,526,750 Auction held  today no cash 
   
ISX Update:   Last update 04/29/2020 
www.isx-iq.net/    but trading for (4/28/20)
Shares Traded: 712,728,114
Value Traded: 313,937,524

ISX traded ended in red 2.28%
Dinar Guru Chatter: http://www.dinarguru.com

Tuesday TNT UPDATE for April 28, 2020
 Al-Kazemi stated on Iraqi TV he will not be pressured and will do what's best for Iraq first.
The Kurds and Sunnis have come to an agreement in cabinet selections while the Shiities are still blocking it.
Al-Kazemi has until May 8, 2020, to get accepted, if not, the government will be dissolved and await September before all are newly elected. #wearethepeople
Al-Kazemi says in the coming hours, he will release all names of his cabinet and within two days, he will announce a special session of Parliament to vote sometime next week and that the virus and Ramadan will not affect this session. 
4-28-2020   Intel Guru Footforward   I see the dinar and dong revaluing, with small adjustments to a few other currencies...There is a chance the dong goes first.  ...This isn't going to be a global currency reset...

4-28-2020   Intel Guru MarkZ 
  [What countries are we expecting to RV…Iraq and ?]  A Number of them are expected too…the ones we are watching closely are Vietnam and Iraq… 

4-28-2020   Newshound Guru Adam Montana  [Question:  If it was to RV at .10 - 1.13 and we wait to cash in, until it goes up more, would we be able to keep it that long, and cash in at a higher rate? Or are we going to have a time limit to cash in?]  That's a great question, and one nobody will be able to answer. It will depend entirely on what the CBI dictates, and they can do anything they want.

4-28-2020   Newshound Guru Pimpy  ...we know the UN, the IMF and the State Department, Mike Pompeo, anyways are going to be meeting in Iraq in June.  We know this is gonna happen.  I know you guys are hoping just like I do that they go ahead and remove the restriction off the currency and allow them to trade on the Forex. Let's cross our fingers and hope that happens.  If they do then...look forward to a lot of speculators to jump all over that currency.  There are people who want to invest in a currency but are concerned because the currency is not recognized internationally.  So you can only imagine what that's gonna do to the currency once it is floating and you can invest in it.  It's gonna drive that sucker up.  That just my opinion...

4-28-2020   Intel Guru Footforward   ...the lack of a government is not holding up the RV what so ever...the two are not directly connected. Iran's influence has dwindled significantly. That matters more then then having a seated government. They have had a seated government numerous times recently. It hasn't produced an RV. ...we are not waiting on a seated government for an RV to happen. If the RV happens with no seated government, they have a financial committee to run things.

4-28-2020   Intel Guru MarkZ   Not a lot of news…pretty much a nothing burger on the revaluation front.  There are a lot of people back in place which is a good thing...the banking side is still expecting to see it between today and Thursday.   My Iraq sources are still looking squarely at Wednesday.  Hopefully we will see something.

4-28-2020   Intel Guru Delta   ...A question was asked to the head of ISX why they did not go international.  He said because of the currency issue...BOOM.

4-28-2020   Newshound Guru Pimpy  ...the stock market is officially open... don't put all your eggs in one basket.  Just because one person says this is the date...it would have been nice.  I was kind of hoping for it...but I still absolutely positively feel 100% that this is gonna happen and it's gonna happen soon...So yeah the stock market has been open.  We also know in addition to that the auctions are still happening...I know it's gonna happen soon.  It's gonna happen this year I really believe that.  There's no reason for it not to.

4-28-2020   Newshound Guru Adam Montana   [Question:  ...it would seem that Iraq is between a rock and a hard place. Oil down and Iraq once again has it hand out to the IMF and WB. This time the IMF and WB are pushing back...]   YES!  And they were told they would get no more than 2 billion dollars... that is nothing.  We aren't the only ones who know that Iraq has the potential to solve their own problems.  Time to GET IT DONE!  
Catnip's Corner:
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ARTICLE 1-A (from PM Mahdi's website; posted only on Arabic side, not on English side)

The Supreme Committee for Health and National Safety issues a decision to tighten the procedures and impose financial penalties on violators of the conditions of health protection

Considering the seriousness of the pandemic of the emerging coronavirus, the importance of strict adherence to strict preventive measures and the failure of some citizens to apply health protection conditions, The Supreme Committee for Health and National Safety decided (to combat the Corona virus pandemic)

At its sixth session, held on April 4/2020, the following:
First: Stressing the implementation of the decision of the Supreme Committee for Health and National Safety No. (35) for the year 2020 regarding the curfew, and all concerned agencies must strictly implement the decision and apply the necessary penalties in the event of a violation.
Second: Amending the time fixed in Paragraph (1) of the Supreme Committee for Health and National Safety No. (35) for the year 2020, so that the curfew starts from six in the evening instead of seven in the evening.
Third: Sanctions are imposed against violators according to the following:
1. Withholding the vehicle and imposing a fine of (50,000) dinars, fifty thousand dinars on mass transport vehicles with a capacity exceeding (4) four passengers, in violation of the paragraph
(8) of the Supreme Committee for Health and National Safety Decision No. 35 of 2020.
2. Imposing a fine of (50,000) dinars, fifty thousand dinars, on the saloon vehicle driver who carries more than (3) three passengers or permits people who do not wear a face mask, and impounding the vehicle in case of repetition of the violation.
3. Imposing a financial fine of (10,000) dinars, ten thousand dinars, for each individual who does not wear a protective mask outside the home, and allows to wear a fabric that provides a full cover to the nose and mouth continuously in the event that the medical mask is temporarily unavailable.
4. The maximum allowable limit is one customer for each (5) five square meters of space allocated to the customers of the shops and stores, preventing entry to those who do not wear a face mask, imposing a fine of (100,000) dinars, one hundred thousand dinars, and closing them in case of violation.
Fourth: The Ministry of Health, the Ministry of Interior, and the National Security Agency shall assess the extent of compliance with the procedures and submit reports thereon within (7) days, accordingly to review the imposition of a comprehensive curfew or take additional measures according to the evolution of the epidemiological situation.
Fifth: Emphasizing on the honorable citizens, by strictly observing the instructions, acting with high responsibility, and contributing to awareness and social separation, with the aim of succeeding in the battle against the virus, to protect them, their families, and the rest of the citizens.
Sixth: This decision shall be implemented starting on Wednesday, 4/29/2020.

The Supreme Committee for Health and National Safety
04/28/2020
 
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ARTICLE 1-B (from PM Mahdi's website; posted only on Arabic side, not on English side)

Cabinet Decisions

The Council of Ministers held its regular session today, Tuesday, 28 April 2020, headed by Deputy Prime Minister and Minister of Oil Mr. Thamer Al-Ghadban, via closed-circuit television.

The Council of Ministers approved the recommendation of the Ministerial Council for Human Development regarding the approval of the amendment to paragraph (2)
From the Council of Ministers Resolution No. (132 of 2011), adding the phrase (establishing national centers for the care of youth talent) to the above-mentioned decision.
 
The Council decided to approve the running out of a framework memorandum of understanding between the Government of the Republic of Iraq and the Islamic Development Bank on a relief project to support water supplies in the conflict-affected Ishaqi region.
(IRQ-1045) signed on December 30, 2019, according to the provisions of Article (3 / Second) of the Treaty Contracts Law No. (35) for the year 2015.

It was agreed to dedicate the consumed iron affiliated to the Infrastructure Directorate in one of the Ministry of Interior's formations to the Ministry of Industry and Minerals / General Company of Iron and Steel, whose book value is (533194755) dinars, only five hundred and thirty three million one hundred and ninety four thousand seven hundred and fifty five dinars, according to the provisions of Article (47 / Second) From the Federal Financial Administration Law No. (6) for the year 2019.

Media office of the Prime Minister
28-April-2020

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ARTICLE 1-C (from PM Mahdi's website; posted only on Arabic side, not on English side)

The Prime Minister-designate pledges to work to boost confidence in the electoral process 

The Prime Minister-designate, Mr. Mustafa Al-Kazemi, pledged to work to enhance confidence in the electoral process and to hold fair and fair elections.

This came during his reception today at his official office, a delegation from the Independent High Electoral Commission headed by Judge Speaker Jalil Adnan.

Mr. Al-Kazemi said: The government will strive to hold elections on fair and fair grounds that respond to the requirements of the stage, and reproduce confidence in the electoral process and the entire electoral system.

Addressing the delegation, Al-Kazemi added: You are partners of the Prime Minister and his government to cross the country from the current crisis, calling for the need to cooperate with the United Nations and international organizations.

During the meeting, they also discussed the work of the High Elections Commission and its needs and future tasks.

Media Office of the Prime Minister-designate
28-4-2020

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ARTICLE 1-D (from PM Mahdi's website; posted only on Arabic side, not on English side)

Prime Minister Adel Abdul-Mahdi condole the death of academician Dr. Wathiq Al-Hashemi 

I extend my sincere condolences and condolences to the academic and media family on the death of the academic and political analyst Dr. Wathiq Al Hashemi, may God have mercy on him, who was known for his national stances and his defense of the gains of the Iraqi people.

We belong to Allah and to Him we shall return .

Adel Abdul-Mahdi
Prime Minister
28-April-2020

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ARTICLE 2 (from Government of Iraq twitter account)
Iraqi health workers are on the frontline during the current health emergency. Watch this video to hear from some of them as they advise citizens to continue to stay at home and to remain vigilant so that together we can defeat #Covid19. #DedicatedToService #والنعم_من

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ARTICLE 3

Deputy: Al-Kazemi will submit a request Thursday to hold a session of granting confidence

4/28/28 22:27 • 11 times read
[Baghdad-where]

Star of the Wisdom Movement, Star Star Al-Jabri, confirmed today, Tuesday, that the Prime Minister-designate Mustafa Al-Kazemi will submit a formal request to the Presidency of the House of Representatives next Thursday for a session to give confidence to the cabinet.

Al-Jabri said in a statement quoted by the official agency, that "Al-Kazemi will present an official request for the presidency of the House of Representatives next Thursday to hold an emergency session to give his government confidence after handing the CVs to the candidates," noting that "early next week the parliament will determine the date of the session."

He added that, "Since his appointment, Al-Kazemi conducts meetings with the leaders of the political blocs to form the government and choose his cabinet," noting that "most political forces, including the Shiites, authorized Al-Kazimi to choose his cabinet, provided that he submitted it to them before voting on it in the House of Representatives to know the biographies of the candidates."
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ARTICLE 4-A

A word expected for the Prime Minister-designate shortly

28/4/2020 22:04 • 39 times read
[Baghdad-where]

Prime Minister-designate Mustafa Al-Kazemi will deliver a prospective speech tonight on the developments in the formation of his cabinet.

An informed source had revealed that the Prime Minister-designate, Mustafa Al-Kazemi, had signed the government curriculum for his cabinet.

The source said in a press statement that "Al-Kazemi signed the government curriculum in its final form and will send it tonight to the Presidency of the Parliament."

It is noteworthy that Al-Kazemi is conducting intensive negotiations with the political blocs to form his cabinet, and announced yesterday evening his rejection of any pressure that "undermines the state."

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ARTICLE 4-B

Al-Kazemi signed the government curriculum and sent it to the presidency of the parliament tonight

4/28/28 22:01 
[Baghdad-where]

An informed source revealed that the Prime Minister-designate, Mustafa Al-Kazemi, signed the government curriculum for his cabinet.

The source said in a press statement that "Al-Kazemi signed the government curriculum in its final form and will send it tonight to the Presidency of the Parliament."

It is noteworthy that Prime Minister Mustafa Al-Kazemi is conducting intensive negotiations with the political blocs to form his cabinet, and announced yesterday evening his rejection of any pressure that "undermines the state."
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ARTICLE 5

The President of the Republic stresses the need for concerted efforts to accelerate the settlement of the file for the formation of a new government

4/28/2020 23:21 
Where's the news - Baghdad

On Tuesday, President of the Republic Barham Salih called for the application of the constitution to resolve the outstanding issues between the federal government and the Kurdistan region.

In a statement, the Presidency of the Republic said, "The President of the Republic received at the Peace Palace in Baghdad the Chairman of the Finance Committee in the House of Representatives and a number of Committee members."

President Saleh stressed, during the meeting, according to the statement, "The necessity of concerted efforts to accelerate the resolution of the formation of a new government seeking to achieve the desired reforms in light of the current economic challenges due to the spread of the Corona pandemic, which requires everyone to ensure the preservation of the livelihoods of citizens with low incomes, and not to prejudice With the salaries of employees, especially the lower grades.

Saleh pointed out "the importance and investment of national energies to support local and national product and achieve self-sufficiency."

And on the outstanding issues between the federal government and the region about imports and the oil and gas law, the President of the Republic stressed, "The necessity of resorting to the constitution and full compliance with the budget law and its benefits and the national interest to reach institutional understandings that are not subject to political considerations, and protect the rights of all Iraqis."

He explained, "The settlement of financial claims is a required benefit according to the constitution and the budget law, but that should not prevent the obligation to secure the salaries of employees in the region, as in the rest of Iraq, because it is a constitutional right and must be protected from political changes," noting that "the sincere will not accept the downloading of citizens." Their livelihood and the burden of political differences. "

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