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Iraq raises its holdings of US bonds to $21.2 billion
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The US Treasury announced that Iraq raised its holdings of US bonds to $21.2 billion during the month of June.
The treasury said in its table, which was reviewed by Shafaq News Agency, that "Iraq raised its balance of purchases of US Treasury bonds by 23.98% to reach $21.187 billion, after it was $17.1 billion in December 2020:", indicating that "the bonds, including long-term guarantees, amounted to an amount of $9.217 billion and short-term guarantees of $11.970 billion.”
And she added, "Iraq's stock of bonds decreased during the past year, after it was 31.9 billion dollars in January 2020, to decrease to 30.9 billion dollars in February of the same year, to decrease to 30.7 in March and to rise again in the month of April to 32.5, and in May it reached 32.6 billion dollars." To decrease again in June to $31.6 billion, then to $29 billion in July, and then decrease again in August to $27.1 billion, and drop in September to $24.4 billion, then to $21.6 billion in October and reach 19.8 billion in November. dollars to conclude the year with a decrease of 17.1 billion dollars.
She pointed out that "the largest holder of US bonds is Japan, with a value of 1.277 trillion dollars, followed by China, with a value of 1.062 trillion dollars, followed by Britain, with a value of 453 billion dollars."
In the Arab world, Saudi Arabia is at the forefront of the most possessing countries, with a value of 127.8 billion dollars, followed by the UAE with 60.8 billion dollars, Kuwait third with 47.3 billion dollars, then Iraq with 21.2 billion dollars, and Qatar fifth with 8.5 billion dollars.
Economy and elections
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The upcoming parliamentary elections are characterized by a large number of great economic promises, as the speeches, slogans and advertisements of some political alliances or candidates focus on improving the economy and solving its complex problems easily and easily, and making it a rosy world free of debt, austerity, inflation, taxes and unemployment.
Some of these candidates are betting on using quick solutions to the crises we are experiencing today, but this bet is a loser and their solutions are just an illusion, because reforming the economy requires a long time and a clearly defined program and concept of implementation. Which means more suffering and crises.
And when the candidate wins the parliamentary elections and the new government is formed, he will find that he needs to take steps and economic measures that do not agree with the desire of the street who elected him. He turns a blind eye to using real reform to speak, look and appear on television to discuss reality with illogical words and far from the promises he made to the parliament. He will take into consideration his party's policy to legislate and implement prosthetic solutions that will satisfy politicians only.
But there is another group, and they are the owners of realistic programs, and it is the real economist who will be in danger. The American economic writer Todd J. Buckels describes this danger in the introduction to the first chapter of the book “New Ideas from Departed Economists,” by saying, “It is not easy to be a thinker.” Economically, corporate executives attack them for not accurately calculating costs and profits, philanthropists accuse them of being scrutinizing in costs and profits, and politicians view economic thinkers as self-sabotaging who do not allow politicians to promise the masses prosperity without offering any sacrifice.
A number of satirical writers have devoted their time to attacking them; The likes of George Bernard Shaw and Thomas Carlyle.
Indeed, the season of attack on economic thinkers has begun since Carlyle called economics the dismal science.
Unfortunately, Iraq is almost devoid of real economic thought, because it will fail, as it is far from courtesy and does not fit the whims of the street and does not achieve any gains for politicians, because real and frank economic opinion will face ostracism, humiliation, and even defamation, and perhaps even murder.
The magic mixture for your success as an economist in Iraq:
to speak in a way that pleases the street and attracts the attention of the media and intellectual cafes, and to be a source of information for politicians who use your flattering ideas in their sessions and even in their legislation.
* Business development and public policy advisor
Kurdistan Region: Baghdad has not released our budget yet, and what is sent by an advance
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The Minister of Planning in the Kurdistan Regional Government, Dara Rashid, clarified today, Monday, what Baghdad sends of money to the region.
The minister stated during a press conference held after his meeting today with the Erbil Provincial Council, that "the draft budget law was prepared earlier, but the problems that occurred in the federal government's budget prompted its delay, and currently the draft is ready."
He added that "the draft budget is ready, and even if it is not submitted to Parliament this year, it is possible to present it next year."
On the money that the federal government sends to the Kurdistan region, the Minister of Planning explained, "What Baghdad is currently sending from the amount of 200 billion is not part of the budget, but rather an advance."
At the conclusion of his speech, Rashid expressed his hope that "the federal budget law will be implemented before the end of this year, so that the region can implement projects and address financial problems."
Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Prime Minister, Mr. Mustafa Al-Kazemi, meets the Chairman of the Kuwait Chamber of Commerce and Industry, Mr. Muhammad Jassim Al-Saqr, and a large group of business and industry men
The most important statement of the Prime Minister, Mustafa Al-Kazemi, during his meeting with the Chairman of the Kuwait Chamber of Commerce and Industry, Mr. Muhammad Jassim Al-Saqr, and a large group of business and industry men:
Iraq is seriously seeking to facilitate intra-trade procedures with Kuwait, and raise the volume of trade exchange, which is still below the level of ambition.
We urge the Kuwaiti public and private sectors to invest in Iraq, as our country has promising investment opportunities.
Iraq has fertile lands and an abundance of water, which gives Kuwaiti investors an opportunity in the agricultural field, whether for government or private companies; In order to achieve food security and integration between Iraq and Kuwait.
The Iraqi government worked to facilitate investment procedures, protect the rights of investors, provide all forms of support for the success of their business, and facilitate granting entry visas to Kuwaiti businessmen. Iraq had previously signed an agreement to avoid double taxation with Kuwait in 2019.
We suggested holding a conference or mutual workshops in Iraq and Kuwait, to review investment opportunities in Iraq in all sectors.
In order to enhance cooperation, we look forward to providing facilities in granting entry visas to Iraqi businessmen, to establish partnerships in the economic field with their Kuwaiti counterparts.
Iraq looks forward to establishing a joint industrial and commercial zone with Kuwait; To develop economic partnership in this field.
Iraqi-Kuwaiti cooperation in the fields of oil and energy is of great interest to us, and we look forward to developing these relations by encouraging the Kuwaiti side to expedite the implementation of the related Gulf electrical interconnection works.
Media Office of the Prime Minister
22 - August - 202
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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi and his Kuwaiti counterpart chair the expanded talks between the delegations of Iraq and Kuwait
Today, Sunday, Prime Minister Mustafa Al-Kazemi and Kuwaiti Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah chaired the expanded talks between the Iraqi and Kuwaiti delegations.
The meeting discussed all files to enhance cooperation between the two countries, in the sectors of economy, health, trade, investment, energy, transportation, and others.
The Prime Minister affirmed the Iraqi government's readiness to cooperate and work with the Kuwaiti government in a manner that embodies the historical brotherly relations between the two countries, in a spirit of mutual respect and a sincere desire for joint cooperation. To strengthen and develop relations in all fields; In order to achieve the aspirations of the two brotherly peoples.
Mr. Al-Kazemi praised the position of the State of Kuwait, in standing by the Iraqi government, and supporting it in achieving its economic aspirations, which include implementing the goals stipulated in the white paper, achieving reform in the public and private sectors, and developing the banking sector, as well as economic and commercial ties with Iraq’s neighboring countries. .
His Excellency expressed his aspiration for concerted governmental efforts between Iraq and Kuwait; To set the date for holding the meetings of the eighth session of the Iraqi-Kuwaiti Joint Ministerial Committee in Iraq, since more than two years have passed since the last (seventh) session, and Mr. Al-Kazemi expressed Iraq's desire to strengthen bilateral relations and exchange official visits between the two sides.
His Excellency affirmed that the government is serious and determined to discuss all outstanding issues between Iraq and Kuwait, where the Supreme Political Committee was formed to negotiate the outstanding issues with the State of Kuwait.
For his part, the Kuwaiti Prime Minister, Sheikh Sabah Khaled Al-Hamad Al-Sabah, thanked the Iraqi government and people for their role in searching for the remains of missing Kuwaiti victims of the former regime, and praised the distinguished role of Mr. Al-Kazemi’s government in the region, and the convergence of views; This is what the region needs at the moment.
Al-Sabah stressed the importance of standing with Iraq, especially after its war against ISIS, and its defense of the world and the region in its fight against terrorism.
Media Office of the Prime Minister
22 - August - 2021
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ARTICLE 1-C (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi meets with the Speaker of the Kuwaiti National Assembly
Today, Sunday, Prime Minister Mustafa Al-Kazemi met the Speaker of the Kuwaiti National Assembly, Mr. Marzouq Al-Ghanim, as part of his official visit to the State of Kuwait, which he arrived early this morning.
Mr. Al-Kazemi expressed the aspiration of the Iraqi government and people to strengthen bilateral relations with the State of Kuwait in various fields and fields. His Excellency indicated that Iraq and Kuwait, by transcending the effects of the past and looking to the future, will be able to achieve a lot at the national and regional levels, and have a positive impact in the region.
The Prime Minister stressed to take advantage of the possibilities offered by geographical contiguity, the interdependence of strategic and economic interests between the two countries, and the social bonds between the two brotherly peoples, especially in light of the delicate circumstances that our region is going through.
During his speech, Mr. Al-Kazemi confirmed that Iraq is proceeding with holding the elections on their date next October, and the government has been able to complete the legal requirements and finalize the election law; In response to the will of the Iraqis, and for the election results to be the true expression of their will.
For his part, the Speaker of the Kuwaiti National Assembly, Mr. Marzouq Al-Ghanim, said that Iraq’s interest and strength are of Kuwait’s interest, which will be an important factor for Iraq’s stability, and that any danger to Iraq will be a danger to Kuwait at the same time, and he also expressed the importance of mutual support between the two countries, especially in international forums.
Media Office of the Prime Minister
22 - August - 2021
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ARTICLE 1-D (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi meets with the Emir of the State of Kuwait Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah
Today, Sunday, Prime Minister Mustafa Al-Kazemi met with the Emir of the State of Kuwait, His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, in the presence of His Highness the Crown Prince, His Highness Sheikh Mishaal Al-Ahmad Al-Jaber Al-Sabah, and Kuwaiti Prime Minister His Highness Sheikh Sabah Khaled Al-Hamad Al-Sabah.
During the meeting, they discussed bilateral relations between the two countries, and ways to develop them to reach an advanced stage of integration, and to enhance joint cooperation in the fields of economy, investment, industry, trade, and others.
The Prime Minister expressed Iraq's appreciation for the position of the late Emir Sheikh Sabah Al-Ahmad Al-Sabah, and the vision of His Highness Prince Nawaf Al-Ahmad Al-Jaber Al-Sabah in supporting Iraq, backing it, and developing bilateral relations between the two brotherly countries.
His Excellency thanked Kuwait, the Emir, the government and the people, for their fraternal stances towards Iraq, and the support they provided, the latest of which was the assistance in confronting the Corona pandemic.
His Excellency pointed out the challenges facing the region, starting with the Corona pandemic, passing through difficult economic conditions, and regional tensions; And others, which make us more believe in the need to cooperate and raise the level of coordination between our two countries.
His Excellency stressed that the Iraqi government is working to transform Iraq into a meeting point, dialogue and exchange of views between the various parties, and intensify efforts; In order to enhance international cooperation to support Iraq, and to strengthen relations with neighboring countries.
Mr. Al-Kazemi indicated that Baghdad will host, at the end of this month, the leaders of Iraq's neighboring and regional countries at the Baghdad Conference, expressing Iraq's desire to participate in the State of Kuwait at the highest levels.
For his part, the Emir of the State of Kuwait, His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, welcomed Prime Minister Mustafa Al-Kazemi and his accompanying delegation in Kuwait, expressing his wishes to enhance cooperation between the two brotherly countries, and affirmed that Kuwait will continue to support Iraq and its government in facing many challenges, and participating in overcoming obstacles. ; In order to promote the best relations, and in a manner that guarantees the interests of the peoples of the two countries.
The Prime Minister, Mustafa Al-Kazemi, arrived this morning, Sunday, to the sisterly State of Kuwait, at the head of a high-ranking government delegation, and official reception ceremonies were held for His Excellency, during which the Iraqi and Kuwaiti national anthems were played, as well as the honor guard.
Media Office of the Prime Minister
22 - August - 2021
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ARTICLE 1-E (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi leaves the homeland, heading to the State of Kuwait at the head of a government delegation
Prime Minister Mustafa Al-Kazemi left this morning, Sunday, the capital, Baghdad, heading to the sisterly State of Kuwait, at the head of a high-ranking government delegation.
Prior to his departure, the Prime Minister stressed that the visit comes within the government's efforts; To strengthen cooperation and bilateral relations with various countries, including the sisterly State of Kuwait.
His Excellency made it clear that the visit will discuss many economic, political, energy, investment and other files, and enhance them to serve the interests of the two brotherly peoples.
Mr. Al-Kazemi indicated that Iraq is on a date with early elections, and that the government is committed and determined to hold them on its scheduled date on the tenth of October 2021, and has prepared all the necessary procedures; for fair elections, and a favorable atmosphere; To be one of the best democratic practices in the country.
Media Office of the Prime Minister
22 - August - 2021
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ARTICLE 2 (from Government of Iraq twitter account)
8-22-2021 around 10:45 am Eastern PM @MAKadhimi and Kuwaiti Prime Minister Sheikh Sabah Khaled Al-Sabah chair the expanded talks between the Iraqi and Kuwaiti delegations.
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ARTICLE 3
An official statement reveals the details of the expanded talks between the delegations of Iraq and Kuwait
Sunday 22 August 2021 | 06:18 PM
Prime Minister Mustafa Al-Kazemi and his Kuwaiti counterpart chaired the expanded talks between the delegations of Iraq and Kuwait. A statement by Al-Kazemi's office stated that, "Al-Kazemi and Al-Sabah chaired, today, Sunday, the expanded discussions between the Iraqi and Kuwaiti delegations, as the meeting discussed all files to enhance cooperation between the two countries, in the sectors of economy, health, trade, investment, energy, transportation, and others."
The Prime Minister affirmed the Iraqi government's readiness to cooperate and work with the Kuwaiti government in a manner that embodies the historical brotherly relations between the two countries, in a spirit of mutual respect and a sincere desire for joint cooperation. To strengthen and develop relations in all fields; In order to achieve the aspirations of the two brotherly peoples.
Al-Kazemi praised the position of the State of Kuwait, in standing by the Iraqi government, and supporting it in achieving its economic aspirations, which include implementing the goals stipulated in the white paper, achieving reform in the public and private sectors, and developing the banking sector, as well as the economic and commercial links with Iraq's neighboring countries.
He expressed his aspiration for concerted governmental efforts between Iraq and Kuwait; To set the date for holding the meetings of the eighth session of the Iraqi-Kuwaiti Joint Ministerial Committee in Iraq, since more than two years have passed since the last (seventh) session, and Al-Kazemi expressed Iraq's desire to strengthen bilateral relations and exchange official visits between the two sides. He stressed that the government is serious and determined to discuss all outstanding issues between Iraq and Kuwait, where the Supreme Political Committee was formed to negotiate the outstanding issues with the State of Kuwait. For his part, Kuwaiti Prime Minister Sabah Khaled Al-Hamad Al-Sabah thanked the Iraqi government and people for their role in searching for the remains of missing Kuwaiti victims of the former regime, and praised the distinguished role of the Al-Kazemi government in the region, and the convergence of views;
This is what the region needs at the moment. Al-Sabah stressed the importance of standing with Iraq, especially after its war against ISIS, and its defense of the world and the region in its battle that it led against terrorism.
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ARTICLE 4
Ayed Al-Manna on Al-Kazemi's visit: Great harmony in attitudes between Iraq and Kuwait
08.22.2021 - 18:56
Baghdad - people
Kuwaiti academic and political researcher Ayed Al-Manna confirmed, on Sunday, that Kuwaiti investments in Iraq will witness an escalation with the full availability of security, noting that there is great harmony in the positions between Iraq and Kuwait.
Al-Manna stated, during an interview with “UTV” channel, and followed by “Nas” (August 22, 2021), that “Prime Minister Mustafa Al-Kazemi’s visit to Kuwait was quick, to invite Prince Nawaf Al-Ahmad Al-Jaber Al-Sabah, to attend the Iraq Neighborhood Conference, which will be held at the end of this month in Baghdad. ".
He added that "the Kuwaiti-Iraqi relations since 2003 have improved and developed a lot. There are mutual visits and dialogues, and they overcame a lot of what happened on 2/8/1990, as there are Kuwaiti investments in Iraq, especially in some areas and holy shrines," explaining that "this visit comes as an invitation to countries Neighborhood to attend the conference, and it is expected in the conference to discuss many internal regional issues, especially with regard to security, terrorism and the economy, and the non-interference in the affairs of other countries.
He pointed out that "Kuwait is peaceful and more diplomatic and does not interfere in internal affairs, and that Kuwait's presence alongside Iraq at the upcoming summit will help a lot to calm thoughts and soften some positions, and it is hoped, especially the Iranian party, that it will be flexible to conduct and bridge the relationship between Saudi Arabia and Iran."
Al-Manna added, "I am certain that Kuwait plays a positive role, and that Iraq is a good mediator in this bilateral relationship between Iran and Saudi Arabia. Iraq and non-interference in its internal affairs.
And the Kuwaiti researcher stated, "In order for there to be investment, trade exchange, and a full recovery between Iraq and Kuwait, security must be available. Security is the main crucial issue.. Kuwait is safe, but Iraq still suffers from some security imbalances.. (God willing) these imbalances will be overcome, The situation becomes completely secure, for surely then Kuwait will have investments, trade, mutual relations and openness to each other.”
He explained that "Kuwait will play a good role in the interest of Iraq's relationship with the Gulf states... We have a philosophy in Kuwait that if your neighbors are fine, you are fine," stressing that "with the era of Prime Minister Mustafa Al-Kazemi, relations have become more capable of development."
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ARTICLE 5
Al-Kazemi pledges to hold the Iraqi elections on time: The region is going through delicate circumstances
08.22.2021 - 15:19
Baghdad - people
On Sunday, Prime Minister Mustafa Al-Kazemi discussed several files, most notably the strategic and economic interests between Iraq and Kuwait, with the Speaker of the Kuwaiti National Assembly Marzouq Al-Ghanim.
And Al-Kazemi’s media office stated in a statement that “People” received a copy of it (August 22, 2021), that “Prime Minister Mustafa Al-Kazemi met, today, Sunday, the Speaker of the Kuwaiti National Assembly Marzouq Al-Ghanim, as part of his official visit to the State of Kuwait, which he arrived at at the same time. early this morning."
The statement added, "Mr. Al-Kazemi expressed the aspiration of Iraq, the government and people, to strengthen bilateral relations with the State of Kuwait in various fields and fields, and his sovereignty indicated that Iraq and Kuwait, by transcending the effects of the past and looking forward to the future, will be able to accomplish a lot at the national and regional levels, and have a positive impact on Region".
The Prime Minister stressed, according to the statement, "to take advantage of the possibilities offered by geographical communication, the interdependence of strategic and economic interests between the two countries, and the social bonds between the two brotherly peoples, especially in light of the delicate circumstances that our region is going through."
The statement continued, "Al-Kazemi confirmed, during his speech, that Iraq is continuing to hold the elections on their date next October, and the government has been able to complete the legal requirements and finalize the election law, in response to the will of the Iraqis, and in order for the election results to be the true expression of their will." .
The statement indicated that "for his part, the Speaker of the Kuwaiti National Assembly Marzouq Al-Ghanim said that Iraq's interest and strength are of Kuwait's interest, which will be an important factor for Iraq's stability, and that any danger to Iraq will be a danger to Kuwait at the same time, and he also expressed the importance of mutual support." between the two countries, especially in international forums.
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