WOTS THU AUG 5 21 European Union: The devaluation of the dinar should have taken place a long time ago
These are the articles I discussed on the My FX Buddies Podcast
Including Iraq.. Learn about the largest countries in gold reserves for the first half of 2021
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The United States of America ranked as the largest country in gold reserves for the first half of 2021, according to the World Gold Council.
In a table of 100 countries with the largest gold reserves seen by Shafaq News Agency, the council stated that "the United States took the lead in the largest gold reserves in the world during the first half of 2021, with reserves amounting to 8,133 thousand tons, followed by Germany second with 3,359 thousand tons, Italy came third with 2,451 thousand tons, and then France came fourth with 2,436 thousand tons.
He added, "Russia came fifth with 2,292 thousand tons, China came sixth with 1,948 thousand tons, Switzerland came seventh with 1,040 thousand tons, Japan ranked eighth with 846 tons, India came ninth with 705 tons, and the Netherlands came tenth with 612 tons."
In the Arab world, Saudi Arabia ranked first and 18th globally with a reserve of 323 tons, followed by Lebanon second and 20th globally with a reserve of 286 tons, followed by Algeria third and 26th globally with a reserve of 173 tons, followed by Libya fourth and 34th globally with a reserve of 116 tons. Then Iraq ranked fifth and 39th globally with a reserve of 96.3 tons, followed by Egypt sixth and 41st globally with a reserve of 80 tons, followed by Kuwait seventh and 43rd globally with a reserve of 79 tons, followed by Qatar eighth and 48th globally with a reserve of 56 tons, and then the UAE ranked ninth and 49th globally with a reserve 55 tons, and Jordan ranked tenth and 53rd globally, with a reserve of 43 tons.
Video: Where did the financial surplus from the selling prices of oil go?
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With the significant rise in oil prices...there has been talk again about the financial surplus provided by this rise, at a time when the budget is still incapable of twenty-eight trillion dinars.
Was the financial surplus from oil selling prices going to fill the deficit in the budget, or was it spent in other chapters, or was it still in the state treasury?
The price of a barrel of oil has exceeded the seventy dollars. The price of a barrel of oil is recovering in the sales market, achieving a lot of revenues at a time when the budget is still incapable by twenty-eight trillion dinars, which raised the astonishment of the Parliamentary Finance Committee, wondering about the fate of this financial surplus and where it was spent specifically? Observers of economic affairs stressed that the government must clarify, with high transparency, the fate of these funds, which, according to their estimates, suffice to fill a large part of the financial deficit, in addition to launching the private sector allocations and suspended projects.
The Parliamentary Finance Committee’s move to hold the government and the concerned authorities accountable for the financial surplus should be by adding the concerned authorities and the specialists inside the parliament building and obliging the government to submit a detailed report with numbers to see the size of the surplus and the ways to spend it
In conjunction with the launch of the economic reform plan, the government must be transparent in dealing with such issues affecting the country's economy, and inform Parliament and the citizen periodically on everything that is spent according to what economists think
European Union: The devaluation of the dinar should have taken place a long time ago
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The Ambassador of the European Union in Iraq, Martin Hutt, stressed that Iraq needs a structural reform in the economy, noting that the devaluation of the dinar should have been done a long time ago because it would make Iraq's economy more competitive.
In an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, Hot said, "The emergence of ISIS and the demonstrations that took place in October 2019 shed light on the need for serious structural reform in the oil-dependent economy while fighting rampant corruption and the lack of job opportunities," explaining that it launched This week, a joint initiative between the European Union and Germany to develop the private sector.
He added that the European Union, as a long-term partner of Iraq, remains committed to supporting development and cooperation priorities for the benefit of the Iraqi people, pointing out that targeting diplomatic missions inside Iraq and civil airports leads to alienation of foreign investors.
And he indicated that the white paper outlines difficult but necessary reform steps towards achieving a diversified and dynamic economy, noting that the devaluation of the dinar should have taken place a long time ago because it would make Iraq's economy more competitive.
From 5 points.. Parliamentary intervention to amend the dollar exchange rate in Iraq
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MP Mazen Al-Faili demanded, on Wednesday, the Ministry of Finance and the Central Bank of the need to restore the exchange rate to what it was previously, describing that the justifications given by the government are unrealistic and unstudied.
Al-Faili said in a statement received by NRT Arabic, a copy of it, (August 4, 2021), that "it is no secret to any follower that the decision to raise the exchange rate of the dollar has negatively and significantly affected citizens in the various layers of the poor and fragile society, employees, and even merchants and contractors."
The statement added, "We believe that the justifications given by the government are unrealistic and unstudied for the following reasons:
1- The rise in oil prices in global markets, which contributed to a significant increase in the financial returns to the state treasury, which negates the need to raise the exchange rate of the dollar
2- The average dollar sale in the Central Bank’s sales window has increased relatively, which means that raising the exchange rate did not stop the depletion of hard currency and money laundering operations, as the government claimed, as the data shows, for example, that Iraq sold in July 2020 an average of 183 million dollars per day in When he sold in July 2021 an average of 210 million dollars, which shows an increase in the quantities of dollars sold, which means the futility of raising the exchange rate.
3- OPEC’s decision to increase Iraq’s share of selling oil in world markets by 150,000 barrels per day, equivalent to (300) million dollars per month.
4 - What some justify raising the exchange rate for the purpose of supporting the local product is contradicted by the decisions that granted Jordan exemptions from customs duties for hundreds of materials and the sale of oil at a low price, as well as the absence of infrastructure for national industries and many raw materials imported from abroad in dollars, so the cost of production rises and its competitiveness weakens with Similar imported product
5- After more than eight months have passed since the exchange rate was raised, we wonder what the financial savings that occurred as a result of the exchange rate increase have been achieved. Achieved by raising the exchange rate also leaked into the pockets of the corrupt! ".
He explained, "The points we mentioned clearly indicate that there is no need to raise the exchange rate of the dollar," stressing that "the Ministry of Finance and the Central Bank must restore the exchange rate to what it was previously and not invoke justifications that do not withstand the data and data that we have referred to." ".
A government meeting to discuss the amendment of the National Oil Company Law and its development mechanisms
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The Ministry of Finance discussed the amendment of the law of the National Oil Company and the mechanisms for developing and enhancing its work functions in line with the vision and objectives of the economic and financial reform program.
Today, Wednesday, Minister of Finance Ali Allawi, during the meeting of the fifteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, discussed restructuring the company according to modern and advanced foundations related to standards of efficiency, productivity and economic feasibility.
The attendees also reviewed the report submitted by the Ministry of Commerce regarding its strategic vision related to the plan to revive foreign trade in accordance with the priorities of the reform plan to revitalize the Iraqi economy and provide various stimulating development opportunities with positive returns to maximize public revenues for the next stage.
Parliamentary Finance expects that the 2022 budget will not be approved if elections are held
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The Rapporteur of the Parliamentary Finance Committee, Ahmed Al-Saffar, expected, Wednesday, August 4, 2021, that Iraq will not have a budget law for the next year 2022 in the event that early .parliamentary elections are held
Al-Saffar said in a press statement followed by "The Obelisk" that the federal government formed a committee to prepare the draft federal general budget for the year 2022 in the General Budget Department of the Ministry of Finance, and the committee started its work last month, but there is no information yet on the arrival of the draft .general budget law for the year 2022. to the House of Representatives He pointed out that in the event of changes in the situation and the postponement of the elections, the draft .budget law for 2022 will be sent to the House of Representatives for discussion
Al-Saffar expected not to ratify the draft general budget law for the year 2022 in the House of Representatives as a result of holding the elections and being preoccupied with forming the new federal government, because the new House of Representatives will carry out its tasks and form the new government will take a year, according to .his expectations
Regarding the final accounts, the rapporteur of the Finance Committee said that the House of Representatives and the Ministry of Finance do not have any information on the fate of the final accounts, as no one knows the fate of .the surplus from oil sales, and no one knows how the final accounts will be
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, had expected earlier that the federal general .budget for the fiscal year 2022 would be different from the current year's budget by two paragraphs
Mazhar Saleh said that the draft federal general budget for the year 2022, in my opinion, will differ slightly from the budget for the current year 2021 in two paragraphs. The (post-Coronavirus) stage, especially the high degrees of international economic openness, the flourishing of trade and investment exchanges between the countries of .the world, and the high overall growth rates in the global economy
He added that there is a strong link between the escalation of economic growth in the world and the escalation of .demand for crude oil and the boom in energy markets and the rise in oil prices
He continued: As for the second paragraph, it is that the draft general budget for the next year will reduce the borrowing space at the lowest point, while the area of investment projects and their allocations will expand significantly and according to the priorities of development, which will lead to better growth and overall employment in the national economy, especially the high market contribution. In the movement of the economy due to the high level of certainty that will be available to market makers, explaining that this is due to the .market's dependence on the indicators of recovery in the government economy
And he added: In spite of the foregoing, the issue of submitting the draft federal budget to take its legislative path will remain the main concern and according to its constitutional timings, subject to the speedy formation of .Parliament after the elections of the tenth month. elected
He explained that, other than that, entering the year 2022, without legislating the general budget law, will make the public finance resort to the application of the effective financial management law, by disbursing 12/1 of the .actual ongoing expenditures in the 2021 budget without new investment projects
Iraq Progresses Towards WTO Membership
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The Chairperson of the Working Party on the Accession of Iraq to the World Trade Organization (WTO), Ambassador Omar Hilale (Morocco), visited Geneva on 16-18 June.
Building on his earlier visits, the purpose of the Chairperson's meetings in Geneva was to identify steps and mobilise support in relaunching Iraq's accession process which had been challenging due to the security situation in the country.
During his visit, the Chairperson met with: Iraq's new Ambassador Abdul-Karim Hashim Mostafa in Geneva; WTO Director-General, Dr. Ngozi Okonjo-Iweala and Deputy Director-General Zhang Xiangchen; the Executive Director of the International Trade Centre (ITC), Ms. Pamela Coke-Hamilton, and Acting Secretary-General of the UN Conference on Trade and Development (UNCTAD), Ms. Isabelle Durant. Moreover, he held several bilateral meetings with WTO Members, and with representatives of the World Bank.
The Chairperson left Geneva with a very positive assessment of Iraq's accession process. He felt that there was a renewed political engagement from the Iraqi government, as well as from the mission in Geneva.
He believes that as soon as the Secretariat receives the necessary negotiating inputs, the 3rd Working Party meeting could be held before the end of 2021.
Al-Samarrai praises Al-Kazemi's move "aimed at restructuring the flabby economy"
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Today, Tuesday, the head of the Civil Track Party, MP Muthanna al-Samarrai, praised the Prime Minister's announcement of the start of implementing the administrative and executive mechanisms of the economic reform plan within the white paper.
In his blogging, Al-Samarrai said, "The initiative of the Prime Minister is a signal to start the administrative and executive mechanisms of the White Paper, a step in the right direction
He added, that this step "aims at restructuring our flabby economy to meet the great challenges the country is going through, and we will be supportive of it to achieve success for the country."
The Prime Minister announced, Mustafa Al-Kazemi Yesterday, Monday, it announced the start of implementing the administrative and executive mechanisms of the economic reform plan within the white paper
Al-Kazemi: Iraq wants to open the doors to Spanish companies
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Prime Minister Mustafa Al-Kazemi confirmed, on Thursday, Iraq's desire to open the doors to Spanish companies.
Al-Kazemi's office said in a statement, "The latter received the Ambassador of the Kingdom of Spain to Iraq, Juan Jose Escobar, on the occasion of the end of his work duties, as Al-Kazemi praised the level of Iraqi-Spanish relations and the efforts of the ambassador during his tenure, stressing Iraq's aspiration for more cooperation with Spain and the rest of the member states. in the European Union in the areas of security, economy and investment.
Al-Kazemi expressed Iraq's desire to open the doors for Spanish companies to participate and invest in the Iraqi economy, especially in the hospital management sector and training its staff.
For his part, the Spanish ambassador affirmed his country's government's aspiration to further strengthen the bonds of cooperation and bilateral ties with Iraq, and its support for the Iraqi efforts in the fight against terrorism, and to work to support the stability of the region and consolidate the truce, and sustainable development in it.
Al-Kazemi’s advisor talks about the mechanism of implementing the “white paper”
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Today, Thursday, the economic advisor to the Prime Minister, Alaa Abdel Hussein, said that the implementation of all projects of the white paper for economic reform would contribute to creating jobs.
Abdel-Hussein explained, in a statement to the official agency, followed by “Nas” (August 5, 2021), that “all projects within the white paper are important and there is a need for them,” noting that “the white paper represents economic treatments and any treatments must take their economic cycle, which does not Less than a year at best.
He added, "The implementation of these projects will range between one and five years, so their effects will appear after their completion and the entry of their effects into the economic cycle," explaining that "these projects will be implemented in different timescales according to the nature of each project, as there are goals that are achieved in three months and others that are achieved in years." This is as explained in the second part of the white paper.
He stressed, "The application of programs and projects must lead to making the economy capable of creating jobs, but it varies between one sector and another according to the nature of the sector's work," explaining that "the recovery of the agricultural sector, for example, depends on the investor. The investor who uses mechanization needs fewer workers and vice versa, so There is no approximate figure for the number of jobs that the projects could provide."
And he indicated that "the plan aims to reform the economy, not to create factories, but rather to facilitate procedures for investors, leading to increased investments, whether in factories or others."
Earlier, Prime Minister Mustafa Al-Kazemi announced the start of implementing the mechanisms of the economic reform plan within the white paper.
Al-Kazemi said, while presiding over the meeting of the Supreme Committee for Reform, according to a statement issued by his office, that "Nass" received a copy of it, (August 2, 2021), that "since we launched the reform white paper to address the rampant corruption in the country, we are working to create an appropriate atmosphere for its implementation."
He added, "Our meeting today is to announce the start of implementing the administrative and executive mechanisms of the economic reform plan within the white paper," noting, "We aspire strongly to restore the country's economy to its strength after the situation reached very low levels as a result of rampant corruption."
Al-Kazemi continued, "This plan will rebuild the Iraqi economy in a proper manner, achieving sustainable development for the country, and the reform plan will provide a solution to the chronic economic management crisis, which is represented by complete dependence on oil, and the failure to diversify sources of income."
He pointed out that, "We want to prove to the Iraqis that we are serious about reform, so the plan for managing the economy was not short-term, nor was it a timely solution, but rather aimed at an integrated reform until it is completed within 5 years."
He pointed out that "the damage to the Iraqi economy is very great, and for this reason it is impossible to implement the reform plan in a short time, and everyone who promises to do so is delusional," explaining that "our goal is to advance the Iraqi state, not the current government. Governments go and the state remains, and for this we want With all our determination to restore Iraq's economic prestige."
And he stated, "Since we assumed the administration of the executive authority of Iraq, we have been working hard to implement reforms, in order to come out with the least losses for all of us," noting that "the future of our children is more important than anything, they are the builders of Iraq, and they are the ones who will lead it, so let's leave our interests and think about our children."
A deputy criticizes government economic reforms
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Today, Thursday, Representative Inaam Al-Khuzaie confirmed that the government relied in its white paper on the data of the International Monetary Fund and the World Bank in describing the reality of the Iraqi economy.
And the deputy said in a tweet on "Twitter", followed by Alsumaria News: The government relied in its white paper on the data of the International Monetary Fund and the World Bank in describing the reality of the Iraqi economy, and most of the solutions provided were usual in the recipes of the mentioned international institutions
Does this mean that the government's economic reforms are an explicit application of the policies of the International Monetary Fund and the World Bank at the expense of the livelihood of the simple citizen and the downtrodden employee?"
Economist: Iraq suffers from money laundering operations
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On Thursday, economist Mustafa Hantoush saw that Iraq suffers from an abundance of money laundering operations.
Hantoush said in the program Harvest Days; The process of entering political money into the electoral process in Iraq is very simple, pointing out that we have not seen anyone present a legal political program, but rather we see competition for access to positions .
he continued; The deputy is ignorant of his true duties and goes to pave the streets, leaving the legislation of important laws.
Hantoush added; The IMF was supposed to organize Iraq's economic affairs , just as Iraq is not an economically independent country because America supervises its accounts, and it is necessary to learn to conduct economic agreements with the American side and benefit from them.
felt hantoush; The implementation of the terms of the white paper needs to amend a number of laws, and we also need new minds capable of reforming the economic reality.
THis is the daily WOTS for AUG 2021 it is incomplete and the market numbers are not correct as I had internet issues
he dollar exchange rate today against the Iraqi dinar in the local markets and Iraqi exchanges on Wednesday (August 4, 2021), which recorded slight changes against the Iraqi dinar.
The price of the dollar today in Iraq came in the local markets and the Iraqi stock exchanges in the capital, Baghdad, Basra and Erbil as follows:
The exchange rate of the dollar against the Iraqi dinar in Iraq today, Wednesday, August 4, 2021
Baghdad - Kifah Stock Exchange
147,800
In most Baghdad exchanges,
buying 147,250
selling 148,250
Al Harthiya - Bursa
147,800
Erbil - Bursa
148,050
Basra - Bursa
147,900
Dohuk - Bursa
148,150
Sulaymaniyah - Bursa
148,100
Mosul - Bursa
148,100
The Markets:
The Asian markets closed mixed NIK up by .03% HSI up by .47% SHANG down by .05%
The UK markets are currently trading in the green mostly from .14% to .52%
Our futures are currently trading mixed DOW at 34917 up by .33% SNP at 4215 up by .10% NDX at 13769 down by .15%
Precious Metals:
Gold is red at 1711 Silver is red at 25.79 Copper is green at 404 Platinum is red at 1170
Brent 72 WTI 74 Bitcoin: 39,907 10 yr yield: 1.26
Things in the News:
Iraqi Articles:
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.
Click on the link above for the latest update.
The CBI for rate is 1460
The currency auction For August 5th, 2021 total sales amount $ 227,969,500.
https://www.dinarguru.com/8-4-2021 Newshound/Intel Guru Frank26 Iraq right now is on a mission with its monetary reform to de-peg from the American dollar. They want to stay on par with the American dollar. But they're ready to de-peg, stay on par, go into the international theater and let the value of the Iraqi dinar go up outside of their borders in the international markets...IMO the CBI and Kazemi are not going to wait much longer.8-4-2021 Newshound Guru Pimpy Article "A new statement from the US administration about repealing the Iraq War Authorization Act of 2002" We already know this. Biden already said it, did it, it's done. We're moving out the troops. All is good. 8-4-2021 Newshound Guru Militiaman One of the key components of an exchange rate is going to be, what was it priced at? They tell us in the past a price that was quite 'popular'. I'm not one to think that 1166 or 1182 or 1190 or 1460 is or was ever 'popular'...but what's popular? If none of those are popular we can safely presume that something prior to that...quote "restoring the exchange of the dollar against the dinar to its previous price is a popular demand by all the people." They know their history. If we're going to go back to when we had purchasing power it's obviously not 1190 because they were looking for purchasing power while they were at 1190. So it's pretty good.8-4-2021 Intel Guru Frank26 There are a lot of meetings going on right now. The most powerful ones are the IMF and the CBI. They just meet and meet and meet and meet and its fantastic. It's all going really nice. The IMF is having powerful meeting with the CBI and Kazemi. They're talking about the monetary reform...all of the meeting happening between the CBI and Kazemi are on the currency of Iraq ... 8-4-2021 Newshound Guru Breitling They are going to revalue no matter what. The question is...the speed the value is going to go up from a starting point...the only affect on the dinar I can see [is the U.S.] pulling out [troops]. So that's what you have to decide - when that day comes when you can exchange (not 'cash in' but 'exchange') how far can you go in Iraq? How far can you depend on them? And that's up to you. It's tough to know. But the point is you have a plan one way or the other. Most people don't have a plan at all. So you're good. You're golden. 8-4-2021 Intel Guru BobTheTaxMan So when you take a look at the IQD and all the dreams you got affiliated and attached to it you got to remember you're going to have to have some constraint unless you're willing to give up almost 60% of your gains. Are you really willing to do that? Are you willing to give up that much simply because "I don't care" and you run down to the bank and cash it in? It will creep up and bite you in the butt. [NOTE: At the appropriate time speak with your tax professionals to develop the best strategy for you and always pay your taxes.] [post 2 of 2]8-4-2021 Intel Guru BobTheTaxMan The IQD as we know is going to be treated as ordinary income. It is not going to be treated as capital gains. It can't be, that's impossible. This is how this works. You take your IQD in your lovely little hands and you go to your local bank and you exchange it for dollars. As soon as that happens you have a taxable event (except under the umbrella of a C.R.U.T) ...What you did is step into the highest tax rate possible. This is the one that's going to grab you. Now what's really interesting is under the Biden administration anybody who makes over a million dollars is really going to get bit. [post 1 of 2...stay tuned] [See NOTE on post 2]8-4-2021 Newshound/Intel Guru Mnt Goat ...there is a statement quoted by Al-Kazemi in the article as saying that “since we launched the reform white paper to address the rampant corruption in the country, we are working to create an appropriate atmosphere for its application”. This statement means ...that they need to address and clean up the corruption before they can take on many of these white paper reforms. So they need security and stability once again. ...One of these reforms we know is the project to delete the zeros which eventually will get us to the bank, sooner than later. [post 2 of 2]8-4-2021 Newshound/Intel Guru Mnt Goat So, in the recent article from...8/2, Prime Minister Mustafa Al-Kazemi announced the start of implementing the administrative and executive mechanisms of the economic reform plan within the white paper...So it has officially now begun...the article told us that the Prime Minister chaired the meeting of the Higher Committee for Reform. So they actually now have a committee to address the white paper reforms. This is very good news! [post 1 of 2....stay tuned]8-4-2021 Intel Guru sheila ...August 3 until August 15!!! Come On RV, RV, RV!!! 15th of each month is day UN make exchange rate updates.
Catnip's Corner:
ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Council of Ministers holds a regular session headed by Prime Minister Mustafa Al-Kazemi
Today, Tuesday, Prime Minister Mustafa Al-Kazemi chaired the twenty-ninth regular session of the Council of Ministers, during which the developments of events in the country were discussed, as well as topics on the agenda.
The session was hosted by the Chairman of the Independent High Electoral Commission, who presented the commission's latest procedures in preparation for holding early elections on their scheduled date on October 10, 2021.
His Excellency renewed his directives to all ministries to support the Commission with everything it needs.
The session also witnessed a discussion of the reality of the national electrical system and the service provided to all citizens. The Undersecretary of the Ministry of Electricity in this regard was hosted, who in turn gave a comprehensive presentation on the status of the electricity system, and the Council took the necessary decisions in this field; In order to ensure the smooth delivery of the electric energy produced, bypassing the beams, activating the related projects and accelerating their completion.
The Cabinet session witnessed a review of the epidemiological report on the Corona pandemic, and the developments in the work of the Committee to Strengthen Government Actions in the Fields of Health Awareness Prevention and Control; To limit the spread of the virus, and the efforts made by health institutions and medical staff in providing services to the infected, and limiting a larger outbreak of the disease, in addition to great efforts in vaccinating citizens, and achieving the required flow of vaccination outlets spread throughout Iraq.
After discussing the topics on the agenda, the Council of Ministers issued the following decisions:
First / Approval of the amendment of Cabinet Resolution (146 for the year 2021) to become as follows:
- The Independent High Electoral Commission has contracted by way of direct contracting with the Iraqi Media Network Press to print the final public and private voter register, candidate brochure, voter register poster, complaints forms No. (110) and other non-sensitive publications from the requirements of the electoral process, with the exception of instructions for implementing Government contracts (2 for the year 2014), and the controls attached thereto.
Second/
The Ministry of Oil employs a person from the families of martyrs of the first or second degree in the incident of the fire of Imam Hussein Hospital (peace be upon him), who holds an intermediate certificate or higher.
Granting a financial aid to the families of the martyrs of Imam Hussein Hospital (peace be upon him), in Nasiriyah, with a minimum of ten million dinars, and a maximum of twenty-five million dinars, at a rate of five million dinars for each martyr, from the profitable companies in the Ministry of Oil.
Third / The Ministry of Finance allocates an amount of (3) billion dinars, from the emergency reserve, to the Football National Authority to cover the expenses of contracting with the Dutch coach (Dick Advocaat) and his assistant owners, and the establishment of training camps based on the provisions of Article (5) of the Federal General Budget Law for the fiscal year 2021.
Fourth / agree to the following:
- The Ministry of Construction, Housing, Municipalities and Public Works sends direct invitations to the ministry’s companies with experience in implementing similar projects, according to what was stated in the aforementioned ministry’s letter No. Executing companies.
- The Ministry of Construction, Housing, Municipalities and Public Works shall dispose of the amount of the documentary credit, in the direction that serves the project and according to the implementation stages, provided that the Trade Bank of Iraq (TBI) facilitates the procedures in that.
Fifth/ Formation of a committee headed by the Undersecretary of the Ministry of Foreign Affairs, Mr. Nizar Al-Khairallah, and with the membership of representatives from the ministries of Justice, Interior, Transportation, Immigration, and the Iraqi National Intelligence Service, to study the issue of the migration of Iraqi asylum seekers to Belarus and Lithuania, and submit its recommendations to the General Secretariat of the Council of Ministers in A maximum of two working weeks.
Sixth / Approval of authorizing the Ministry of Interior to contract the authority to implement an integrated electronic traffic system using the BOT method, as an exception to the instructions for implementing government contracts (2 of 2014) and the controls attached to them, and from the instructions for implementing the Federal General Budget Law, taking into account the provisions of Article (43) From the Traffic Law (8 of 2019).
VII/
Determining the share of Iraq’s contribution to the shares in the Asian Investment Bank to a maximum of (250) shares of the capital, of which (50) shares are paid-up, equivalent to 20%, and (200) shares equivalent to (80%) remain unpaid upon call-up.
- Authorizing the Ministry of Foreign Affairs to sign the application for the accession of the Republic of Iraq to the agreement of the Asian Investment Bank for Infrastructure.
- Paying Iraq’s contribution to the capital of the Asian Bank within the allocations of the general federal budget to the Ministry of Finance for the year 2021, and by making transfers.
Eighth / Approval of the settlement by writing off the debt of the General Maritime Transport Company owed by Alia Transport and Trading Company to be liquidated, amounting to (2060955.223) Jordanian dinars, only two million and sixty thousand nine hundred and fifty-five Jordanian dinars, and two hundred and twenty-three fils, according to the provisions of Article (46). From the Federal Financial Management Law (6 of 2019) amended, in exchange for writing off the debt of Alia Company owed by the Iraqi Airways Company, the General Company for the Transport of Delegations and Passengers, and the Shadow Company for Transporting Persons and Passengers.
Media Office of the Prime Minister
3 - August - 2021
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ARTICLE 2 (from Government of Iraq twitter account)
8-4-2021 around 2 pm Eastern PM
@MAKadhimi, chairs a meeting of the Ministerial Council for National Security. During the meeting, the latest developments in the progress of security operations and intelligence efforts in pursuit of the remnants of Daesh terrorist gangs were discussed.*************
ARTICLE 3
The Minister of Finance chairs a session on the budgets of the coming years.. Learn about its content
08/04/2021
Finance Minister Ali Allawi chaired the fifteenth session of the committee for preparing the budget strategy for the years 2022-2024, while referring to the discussion of steps to amend the National Oil Company Law and the mechanisms for its development.
The Finance stated in a statement, "Allawi chaired the meeting of the fifteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, in the presence of the head of the General Authority for Monitoring Ministries' Allocations, the Prime Minister's advisors, the undersecretaries of finance and planning, the ministry's advisor and general managers in the ministry and related ministries Relationship".
She added, "During which, "the law of the National Oil Company and mechanisms for developing and enhancing its work tasks were discussed in line with the vision and objectives of the economic and financial reform program, in addition to discussing the restructuring of the company according to modern and advanced foundations related to standards of efficiency, productivity and economic feasibility, and the report submitted by The Ministry of Commerce regarding its strategic vision related to the plan to revive foreign trade according to the priorities of the reform plan to revitalize the wheel of the Iraqi economy and provide various stimulating development opportunities with positive returns to maximize public revenues for the next stage.
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ARTICLE 4
The Iraqi Ministry of Migration: 75% of the displaced have returned to their areas
August 04, 2021
The Iraqi Ministry of Migration and Displacement announced, on Wednesday, that 75 percent of the displaced have returned to their residential areas, and that the number of the remaining displaced is 37,000 families, and they are given the choice between returning to their areas, or staying in the camps.
The ministry does not count the number of displaced people who live outside the camps, as it provides assistance to the displaced persons in the camps exclusively, while the total number of displaced persons not residing in the camps is estimated at more than 750,000, and the majority of them reside in housing complexes at their own expense in several towns in Erbil and Sulaymaniyah, as well as Baghdad, Anbar and others.
A spokesman for the Ministry of Migration and Displacement, Abbas Jahangiz, said that "75 percent of the displaced have returned to their areas, and only those in the camps of the Kurdistan region remain, and these are mostly from the town of Sinjar," noting to the official Iraqi News Agency (INA), that "all the rest are in the camps." Their number is about 37,000 displaced people, and the total number of registered returnees is about 600,000 families, and the door of return is open, and we are working to facilitate it, and the return of the remaining families to their areas depends on several factors, including the family’s desire to return.”
For its part, the Kirkuk Governorate Immigration Department confirmed that about 45,000 displaced people are still living in the governorate, and that they do not want to return because their areas are destroyed and their homes destroyed. They have nothing left to return to, and we have 137 destroyed villages in Kirkuk, with a population of about 15,000 families. The department provided a financial grant to nearly 5,000 families, and the displaced are from the governorates of Diyala, Anbar, Salah al-Din, Nineveh, and towns southwest of Kirkuk.
On the other hand, the head of the Parliamentary Committee on Migration and Displacement, Raad Al-Dahlaki, warned against the continuation of useless treatments in resolving the displacement file.
Suffering: It is imperative for the responsible authorities to keep the file away from political bargains, deal with it humanely, return the families to their areas, and provide them with material compensation after they restore life to those areas, and the file cannot be resolved without compensating the displaced and creating the appropriate conditions for their return.
Displaced persons, compensation and reconstruction: promises to win the votes of liberated Iraqi cities
In turn, Abu Ali, one of the IDPs in Nineveh Governorate, criticized what he called "the government's failure to manage the file of the displaced," surprising "its call for the return of the remaining displaced, as if it did not know that their areas were not suitable for living," and explained to Al-Araby Al-Jadeed: "No There is no doubt that we choose the displacement camps, as there is nothing left for us to return to, as our homes have been demolished, our areas destroyed, our cars stolen, and our shops looted.
The current Iraqi government headed by Mustafa Al-Kazemi is unable to resolve the displacement file, despite the many promises it made due to political interference in the file by some armed parties and factions.
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ARTICLE 5
A meeting between the Kuwaiti and Iraqi ambassadors
08-04-2021 06:41 PM
AMMAN - Kuwaiti Ambassador Aziz Al-Daihani met today, Wednesday, with the Ambassador of the Republic of Iraq, Haider Al-Adhari to the Kingdom.
In an interview quoting Al-Daihani, he touched on the depth and strength of Kuwaiti-Iraqi relations.
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