WOTS MON OCT 5 2020
Selling prices in the exchange shops in the local markets in Baghdad
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1166.9000 |  1218.1000 | 1192.9000 | 1192.4000 | 1192.9000 | 1.4000 | 10:44 |
| USD/VND | 23203.0000 | 23205.0000 | 23179.9200 | 23175.9600 | 23175.9600 | 5.7400 | 22:36 |
| USD/CNY | 6.7897 | 6.7919 | 6.7898 | 6.7897 | 6.7898 |  0.0000 | 01:29 |
| USD/KWD | 0.3058 | 0.3068 | 0.3061 | 0.3059 | 0.3061 | -0.0002 | 05:06 |
| GBP/USD | 1.2945 | 1.2947 | 1.2964 | 1.2899 | 1.2936 | 0.0017 | 05:11 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14726.0000 | 14732.0000 | 14852.0000 | 14685.0000 | 14852.0000 | -144.0000 | 05:10 |
Major currencies moved further from record highs reached last week and declined Sunday both in Tehran’s free market and official exchange-bureaus affiliated to the Central Bank of Iran.
The US dollar lost more than 12,000 rials on Sunday and declined to 284,000 rials or 4.5% in one day
SWIFT pilots new service for low value cross-border payments
REGAL CINEMAS Suspending Operations at All Locations...
DAWN OF THE CHIMERAS: Majority Support Human-Animal Embryos...
Would Basic Income Make Lazy or Creative?
Lengthy era of rock bottom interest rates leaving mark on economy...
Federal Debt Tops $27 Trillion for First Time...
Oil prices rise 2% as Trump's doctors hint he should be discharged from hospital
Oil prices increased by more than two percent on Monday, supported by statements from doctors to US President Donald Trump indicating that he could be discharged from the hospital today, a few days after he was diagnosed with the Coronavirus, which sparked widespread panic.
New information about Trump's health reduced the size of political uncertainty in global markets, which pushed Brent to $ 40.11 a barrel, as it gained 84 cents, equivalent to 2.1 percent. U.S. West Texas Intermediate crude rose 91 cents, or 2.5 percent, to $ 37.96 a barrel.
Prices had fallen by more than four percent on Friday, amid uncertainty surrounding Trump's health, which came in addition to fears that the growing number of cases of Coronavirus may undermine the global economic recovery. But analysts said today's rally is driven by the receding of the biggest concern about Trump's health, despite some mixed indications.
Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), has nearly tripled its production, reaching 270,000 barrels per day last week after forces from the east eased a blockade on the country's oil infrastructure.
The 'White Paper' on Economic Reform Promised by Al-Kazemi Completes
Today, Sunday, an informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed.
The source said to "People" (October 4, 2020) that "the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the House of Representatives."
He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."
On Sunday, Finance Minister Ali Abdul Amir Allawi confirmed that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services.
Allawi said in a statement to the official agency, and "people" followed him (October 4, 2020), that "the budgets for the years 2021-2023 we have started working on them now, but they will not be the main ones, because the Ministry of Finance is currently unable to implement it in a complete way, but it may hinder it." For a year and a half so that we can move from the traditional budget-drawing method to the program budget. "
He added, "Tax revenues constitute a very small percentage of the state's resources, and it is not high if compared to any other country, because the tax structure is reasonable in Iraq."
He pointed out that "citizens will not respond to taxes, and they may have justification, because the state does not provide them with the necessary services, so the level of taxes must be linked to services and their quality."
He continued, "It is assumed that we get 8 trillion dinars from taxes, while we are currently getting less than one trillion, because there are large exemptions and exemptions."
He stated, "Iraq contains a kind of state seizure, as it is not necessary for this seizure to be by the parties, but it may be from all parties that have a stake and influence on the decision-making."
He stressed, "The need to subject the state to completely different professional controls and ways of working, and the solution must be a kind of separation between the legitimate and semi-legal requirements of political parties, according to the electoral results, because the balance is difficult, so that we have a completely independent government apparatus, which does not exist now." ".
Finance Minister Ali Abdul-Amir Allawi said that paying employees' salaries is a matter related to the House of Representatives voting on the borrowing law, stressing that this step will address the current deficit in the country.
Allawi added in a statement to the official agency, followed by "People" on Sunday (October 4, 2020), that "the salaries of retirees for the current month have been launched without any problem, pointing out that the salaries and allowances of employees will be launched during the next few days or weeks."
He added, "The amounts will be available if the House of Representatives approves the borrowing law," stressing that "the borrowing law is very important because it meets the financial needs of the state and addresses the deficit in the budget."
The Parliamentary Finance Committee confirmed, earlier Friday, that the fiscal deficit is a temporary condition in Iraq, but the Minister of Finance has the powers to take immediate action.
The committee's reporter, Representative Ahmed Al-Saffar, said in a statement to the official channel, followed by "People" (October 2, 2020), that "the current deficit is a temporary and embarrassing deficit for the government and parliament, because there is a slight deficit to finance the salaries of the month of September, which the government is late in paying." Noting that "in the event of waiting for the submission of the draft budget or the submission of a new loan law, the issue will be delayed by more than a week, 10 days, or maybe more, and this will lead to a lot of embarrassment."
He added that "according to the public finance literature, the Iraqi constitution, and the Financial Administration Law, if there is a slight deficit, the Minister of Finance has the powers to take immediate action," indicating that "there are two types of debt; real fixed debt which results from a significant decrease in real revenues versus expenditures." The public deficit is a permanent and permanent deficit and it is called the fixed debt, but the current deficit in Iraq is a temporary deficit, and the debt is called a debt remaining in the public finances and it is possible to put up temporary treasury bills that express the existence of revenue but it is a delayed income. Future. "
He continued, "Iraq does not have a financial crisis because it has resources, but the state and the government cannot access them, so the current deficit in Iraq is a temporary deficit, and the debt is a debt and the deficit can be paid in the future." The great embarrassment for the government is for the finance minister to move to offer bills and immediate borrowing from Iraqi banks or the central bank to pay salaries. Then the move will take place a week later when Parliament begins its sessions and the normal situation in Baghdad returns after the forty-day visit.
Al-Saffar pointed out that "the draft budget was delayed sending it to the House of Representatives, and there was only one night remaining in the Office of the Speaker of Parliament, and it was withdrawn by the government until the Finance Committee did not see it, and I do not know the reasons behind the withdrawal of the project, and this embarrassment to the House of Representatives by the Ministry of Finance is absolutely unacceptable because The mistake and imbalance is the lack of monetary and financial policies in Iraq. All that exists is that they are waiting for debts and financing the operating budget. "
Al-Saffar stressed that "the parliament is ready to hold any emergency session in order to solve the current crisis. It is possible to borrow immediately and then remedy the situation after a while because it is not correct that the employee waits for days without a salary and this is his only source of income."
He pointed out that "there are two solutions; either submitting the draft budget as soon as possible until it is approved, or resorting to new borrowing if the government is able to obtain Parliament's approval because the issue of debt in Iraq has become in a very dangerous range and leads the Iraqi economy to the unknown."
Two rockets fall in Baghdad, no casualties - Iraq military
BAGHDAD (Reuters) - Iraq’s military said in a statement on Monday that two Katyusha rockets had fallen late on Sunday in Baghdad’s Jadiriya area, near the heavily fortified Green Zone, without causing any casualties.
One of the rockets landed near the Babylon hotel, which is used by Iraqi travelers and sometimes for government meetings, the military said in the statement.
The Iraqi military blamed “terrorist groups” for the attack and said the rockets were fired from an area in the western part of the capital.
Rockets regularly fly across the Tigris towards the heavily fortified Green Zone, which houses government buildings and foreign missions including the U.S. embassy.
Iraqi Prime Minister Mustafa al-Kadhimi pledged in a meeting with top diplomats to protect foreign missions and limit the possession of weapons to state forces following a U.S. threat to shut down its embassy in the city.
Washington blames such attacks on Iranian-backed militia groups. Iran has not directly commented on the incidents.
Iraq, often the scene of spillover violence from U.S.-Iran tensions, wants to avoid being drawn into any regional conflict
A study that tracks the looted Iraqi money: from 'investment' to the pockets of the parties and Tehran's allies!
The report, published by the Emirates Policy Center, followed by "People", (3 October 2020), sheds light on the reasons for the increase in corruption in Iraq and money laundering and the parties responsible for that, as well as the reasons behind the classification of Iraq in sixth place among the worst countries in the field Combating money laundering, which called on the European Union to place it in July 2016 on the list of countries that lack the application of international standards.
While the government of Mustafa Al-Kazemi is struggling to ensure that the salaries of employees, retirees, and beneficiaries of the social protection network continue to be secured, after the sharp decline in public treasury revenues due to the decline in oil prices under the pressure of the outbreak of the Corona virus, its efforts received a heavy blow following the European Union’s reinstatement in May 2020 placing Iraq on the list High-risk countries in money laundering and terrorist financing, along with North Korea, Iran, Afghanistan, Syria and Yemen; It is a step that will have negative economic and financial repercussions on Iraq.
An ideal environment for laundering money
In the post-US invasion of 2003, Iraq was fertile ground for the emergence of money laundering networks that benefited from the repercussions of the radical change of the political system and the accompanying political, economic and security chaos fueled by the feverish rivalry between political parties and representatives of the ethno-sectarian components, to obtain the largest possible amount. Of power and influence, in a way that facilitates the exploitation of state resources and the collection of funds that found their way abroad through organized and politically covered money laundering operations.
Despite the creation of many oversight bodies, such as the Public Integrity Commission, offices of general inspectors in government ministries, agencies and institutions, as well as the Office of Financial Supervision, the Economic Crimes Directorate in the Ministry of Interior, and the Economic Security Department of the National Security Agency, all of these bodies failed Combating this phenomenon due to political interference that has taken security chaos and sectarian war as a cover and an excuse to disavow more than a decade of pressure from the World Bank and global financial institutions that have repeatedly threatened to put Iraq on the blacklist if it does not legislate a law to combat money laundering, which was not done until 2015. Parliament passed the Anti-Money Laundering and Terrorist Financing Law No. 39, which approved the establishment of the “Council for Combating Money Laundering and Combating the Financing of Terrorism,” which granted wide powers, as well as the formation of an office in the Central Bank called the “Anti-Money Laundering and Terrorist Financing Office”.
The first report of the "Basel Index to Combat Money Laundering" in 2012 ranked Iraq in sixth place among the worst countries in the field of combating money laundering, which called for the European Union to place it in July 2016 on the list of countries that lack the application of international standards. Although the Union, in a goodwill gesture, returned in 2018 and removed the name of Iraq from its blacklist even as it ranked first in the Basel Index report for 2017 as the most dangerous country in the field of money laundering, but the Iraqi government failed to take advantage of this opportunity to improve the country's image by stepping in the direction of Meet the concerns of its international partners.
Sources of money laundering
The money laundering trade in Iraq has been fueled during the past years by several sources, the most important of which are:
Investment budgets: The investment budgets allocated by the successive Iraqi governments after 2003, with estimates ranging from 300 to 500 billion US dollars, for the purpose of rehabilitating the infrastructure and developing public facilities, were a major source of profit for the ruling parties through the referral of contracts and contracts. Corrupt to illegitimate, unqualified or unskilled companies, in exchange for huge commissions believed to be no less than a fifth of the value of each contract, which were often executed in a non-conforming manner or the period of delivery was extended for additional years under the pretext of insecurity.
Oil smuggling: In addition to the survival of the southern oil export platforms without meters until the end of 2017, and the use of the "crane" method to measure the size of the cargo of oil tankers, which used to cost Iraq the loss of thousands of barrels of oil in each shipment for every unaccounted centimeter, the oil pipelines Stretching between fields and ports, which operate to this day without meters, whether at the level of oil fields, secondary pumping stations or refineries, are still the preferred target for the theft of crude oil and its derivatives, practices that are estimated to possess between 100 thousand and 250 thousand barrels per day of Iraqi oil production, as well as other administrative corruption aspects in calculating the quantities of oil entering and leaving the refineries. As for the center and north, the oil fields and its smuggling networks that used to finance the "ISIS" organization.After the fall of the city of Mosul in mid-2014, it continues its work as usual, but for the benefit of the Shiite militias loyal to Iran, and in cooperation with the Kurdish parties that are active on their part in smuggling oil produced in the Kurdistan region; This accumulates the huge amount of money that must be laundered in order to facilitate its integration into the global financial system.
Drug smuggling and arms trade: After the US invasion, local drug consumption became one of the most profitable and fastest growing businesses due to the involvement of Shiite militias and armed clans in them, especially in Basra Governorate, which is witnessing a fierce struggle over the monopoly of the routes to be smuggled from Iran into Iraq, which often appears in the form of Armed clan conflicts.
Border crossings: Until the beginning of last July, the land, sea and air border outlets remained completely outside the authority of the state, due to the control of the traditional Shiite forces and militias over them, as well as the Kurdistan region outlets, whose government has refused since 2003 to enable the federal government to supervise them according to the constitution, which is what It costs the public treasury estimated losses between 5 and 10 billion dollars annually as a result of customs evasion and organized smuggling that is practiced there.
Methods of money laundering
The daily currency auction - the mechanism adopted by the Central Bank to control the exchange rate of the Iraqi dinar at the limits of 1200 dinars to the dollar by providing the market needs, traders and importers of the US dollar - remains the major channel that political parties and militias use to launder suspicious money through banks and exchange shops associated with them. , Which has permanently gained preference to participate in the auction, despite the violations that were recorded against it, the most important of which is the submission of forged import permits on behalf of the merchants who were supposed to have bought dollars from them, and the transfer of huge sums of unknown owner to the interest of fictitious foreign financial institutions, as one shows Central Bank documents from 2014, revealed by the "Baghdad Today" website, and decided to transfer $ 1.$ 8 billion from a local bank to a Jordanian bank without verifying the identity of its owner or the recipient, which the Central Bank of Jordan - when reviewed by the Anti-Money Laundering Committee at the Central Bank of Iraq - was unable to confirm whether the amount had reached the relevant Jordanian bank.
This sheds some light on the reasons for the doubling of the volume of dollar sales to the limits of $ 60 billion annually, despite the fact that the total commercial exchanges announced by Iraq's trading partners barely reach the threshold of $ 40 billion, which means that at least one third of Iraqi financial transfers go to Money laundering service. This is what the former head of the Office of Financial Supervision, Abdul Basit Turki Al-Hadithi, alluded to between 2004 and 2014 when he confirmed that the Iraqi economy’s need to convert foreign currency does not exceed $ 500 million per week, and any dollar more than that is currency smuggling and money laundering.
Serving Iran and its proxies
Whereas over the past years, accusations have been distributed wholesale to political forces of exploiting state resources and seizing public funds and smuggling them abroad, the unspoken truth is that between 2006 and 2014, Nouri al-Maliki, the Iraqi prime minister, was the most prominent player in the depletion of the country's resources in the service of plans. The Lebanese Hezbollah, whose envoy in Baghdad, Muhammad Kawtharani, led efforts to persuade the Shiite leaders to renew the mandate of the leader of the "State of Law" coalition at the head of the Iraqi government in 2010, to turn Iraq into a base for the party's economic activities and the center for money laundering of international mafias with which it has business relations in Framework of its foreign operations in Latin America.This was happening quietly until the outbreak of the Syrian revolution, which accelerated the plan to control the Central Bank, by dismissing its president, Sinan al-Shabibi, on charges of corruption in 2012, and assigning the head of the Financial Supervision Bureau, Abdul Basit Turki, to run an agency, despite the apparent conflict of interests between the two positions; Then the volume of the Central Bank's sales of the US dollar doubled in a large and unjustified manner, in conjunction with the influx of Iraqi Shiite militias to fight alongside the Syrian regime.
This step inaugurated the era of the control of the "Dr. Ali Al-Mumin Cell", described by the historian of the Islamic "Dawa" party, which includes Muhammad Kawtharani, Adnan Kawtharani and Yassin Majeed, over the Iraqi financial sector through "controlling bank licenses and exchange in Iraq and the large money transfer companies in the shadow war between Iran on one side and the United States and its allies on the other side, "leading to the" abuse of the resources of the ministries of agriculture, industry, transport, communications, immigration and the displaced in the government of Adel Abdul-Mahdi, "as well as the cell's endeavor to" "Consolidation of its authority in Iraq in cooperation with the Revolutionary Guards and the Iraqi proxy factions represented by Sheikh Abu Safi Mahmoud al-Rubaie of the Economic Office of Asa'ib Ahl al-Haq, who is the spokesman for the Political Bureau, in addition to Representative Ahmad al-Asadi, spokesman for the Al-Fateh Alliance headed by Hadi al-Amiri, who is close to Iran, and a leader in the organization Badr Abu Maryam Abdul Karim Al-Ansari (former Minister of Municipalities), and the leader in the Iraqi Hezbollah Brigades in the name of Majidi, "as revealed by a report attributed to the security expert Hisham Al-Hashemi, who was assassinated in Baghdad early last July.
This is without talking about what is known in advance about the companies affiliated with the Lebanese Hezbollah to obtain profitable government contracts in the fields of construction, communications and logistics services for international oil companies operating in Iraq, in addition to its other investments in tourism, luxury restaurants, hotels and light food industries, and its entry as a partner in a large number of Shopping centers in the capital, Baghdad, which are sub-owned by Shiite political figures and others who use the armed factions as a cover for them, and which there is a consensus among those familiar with the scenes of the Iraqi market that they are merely interfaces for money laundering of other illegal activities, given that they provide services at unreasonable prices according to local standards.
Implications and implications
Following the decision of the European Union Commission, Iraqi Foreign Minister Fuad Hussein issued a statement in which he expressed his surprise at the inclusion of Iraq on the list of high-risk countries in money laundering and terrorist financing, and recalled the measures taken by Iraq during the past two years, considering that it had fulfilled all the conditions for exit from the list. Black. However, the state of denial, which was disclosed by the minister's statement, reveals a number of indications, the most important of which are:
Money laundering has been rooted in the structure of the political system, as it is one of the aspects of financial corruption that placed Iraq at the top of the list of the most corrupt countries in the world.
Its strategic importance in relation to Iran's plans to secure financial support for its allies and proxies in Syria, Lebanon, Yemen and Bahrain, by taking advantage of the ambiguous situation of Iraq in the vision of the US administration, which does not seem to be in the process of a complete break with Baghdad, pending the maturity of the elements of internal Iraqi rejection of Iranian hegemony over the country.
The lack of will by the transitional government headed by Mustafa Al-Kazemi to open this file due to the involvement of all the forces supporting, neutral or not opposing his government, Shiite, Sunni and Kurdish in money laundering operations, especially the Kurds, which lost nearly a billion and a half billion dollars of oil revenues smuggled from the region, due to bankruptcy Lebanese banks.
The failure of the tax and banking systems in Iraq, which makes it difficult to keep pace with the movement of funds and verify their owners, as well as to be taxed with them.
The lack of legal cover to follow up on people who show signs of wealth that are not commensurate with the jobs and businesses they perform, or do not match the prices of services and goods they sell, especially if they are less than the cost price or even do not cover transportation costs such as vegetables and fruits imported from Iran, As happened last June, when Iraq imported seventy million dollars worth of Iranian tomatoes, at a time when Iraqi farmers in the Kurdistan region were throwing their produce on the streets because there was no one to buy it.
The lack of clear controls for the banks and exchange shops that are selected to participate in the hard currency auction, especially those that do not provide actual banking services, and whose records are full of a long list of violations.
Regulatory and judicial institutions overlook the people who showed the Central Bank of Iraq data that they made billions of dollars with forged import permits, such as Hamad al-Yasiri, owner of the "Al-Hoda" Bank, who is close to the leader of the State of Law coalition, Nuri al-Maliki, who was referred to by former Finance Minister Hoshyar Zebari without mentioning his name. Speaking of someone's transfer of 6.5 billion dollars to banks in Jordan during the second term of Al-Maliki's government.
The great influence that the pro-regime factions, and the Lebanese "Hezbollah" behind them, have come to enjoy within the institutions of government, which makes it difficult to stop the money laundering operations that they practice inside Iraq and are linked to various illegal activities; From the smuggling of oil, drugs, and weapons, to kidnappings and the imposition of royalties on businessmen and investors, especially in the Sunni provinces.
As for the repercussions, the European decision will harm the political and financial reputation of Iraq, which will lead to the subjecting of financial transfers from the European Union countries to Iraq to more stringent and more bureaucratic terms, which will raise the costs of insurance and transfer, and it will also reduce the credit rating of Iraq below -B, which has a negative impact on attracting European and even foreign investments, and on obtaining loans and grants from European and international institutions; These effects will multiply the economic crisis that Iraq is suffering, as it will increase the suffering of the Iraqi people.
Summary and conclusions
In May 2020, the European Union re-placed Iraq on the list of high-risk countries in money laundering and terrorist financing. It is a step that means subjecting financial transfers from the countries of the Union to Iraq to more stringent conditions, and reducing Iraq's credit rating to below -B, which negatively affects its attraction of European and even foreign investments, and its access to loans and grants from European and international institutions.
Illegal funds come from investment budgets, oil smuggling, drug and weapons trafficking, and customs smuggling. Most money laundering is done through the daily currency auction; A third of Iraqi remittances, at least, go to the money laundering service.
One of the reasons for the spread of the phenomenon of money laundering is the underdevelopment of the tax and banking systems in Iraq, and the lack of legal cover to follow up on people who show manifestations of wealth that are not commensurate with the jobs and businesses they practice. The lack of clear controls for the banks and exchange houses that are selected to participate in the hard currency auction; Regulatory and judicial institutions overlook the people whose Central Bank of Iraq data show that they made billions of dollars with forged import permissions.
Money laundering operations are of strategic importance to Iran's plans to secure financial support for its allies and proxies in Syria and Lebanon, and the great influence that the state factions have enjoyed within the ruling institutions makes it difficult to stop these operations.
CBI Update: Just a note:They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is
here.
here.
The currency auction total sales amount $ 172,082,399.
including $ 23,550,000. CASH Friday
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
10-4-2020 Newshound Guru Kaperoni ...the recent events pertaining to the central bank...They're working on reforms to the banking system not the currency. Banking reform and creating a suitable investment environment for the private sector are Iraq's priorities at this time. There's no time to waste. I do not expect currency reform until after the success of the banking reform and passing of laws to create a suitable investment environment...they have been procrastinating these economic reforms for several years, but only time will tell if they decide to complete them or collapse into chaos.
10-4-2020 Newshound Guru Pimpy Article: "The Finance Committee talks about losing the Iraqi dinar 10% of its value" We don't want that to happen. That's bad. If the dinar loses its value that's not good for us. We want its value to increase. We want the exchange rate to decrease. Quote: "the parliament financial committee warned on Saturday that the value of the Iraqi dinar had decreased by 10% during the past days..."
10-4-2020 Newshound Guru MilitiaMan Article: "Deputy Finance: The government cannot solve the economic crisis without harming the citizen" Quotes: "The government until now has not been able to properly and properly resolve the economic crisis..."; "...reported that the government is moving towards saving or reducing the dollar exchange rate..." So if you reduce the dollar exchange rate, it takes more dollars to buy the Dinar! That my friends is the whole enchilada.. That is what they are reeling to do! imo Be happy...
10-4-2020 Newshound Guru Pimpy I love the fact that the rate talk has been going on - period. Good, bad and ugly. The fact that they're talking about it seems to give me the impression that they know something needs to be done. What that is for sure I'm not sure myself but we're going to find out...
10-4-2020 Newshound/Intel Guru Mnt Goat Article: "THE WORLD BANK: IRAQ STANDS AT A CROSSROADS AND ITS GDP IS THE WORST SINCE 2003" Quote: “LACK OF STABILITY, LACK OF JOB OPPORTUNITIES, CORRUPTION AND POOR SERVICE PROVISION REMAIN AMONG THE MOST IMPORTANT RISKS SURROUNDING THE COUNTRY’S LONG-TERM GROWTH,” It’s not that they are not doing all these things but they are too slow to act. Also, these things should have been done already a decade ago. I think this is the point of the WB. We can see articles with the new prime minister al-Kazemi implementing programs to correct these issues. But it is an uphill battle all the way.
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