Iraqi News Catch up March 12th 22 Next Monday.. Cautious optimism precedes an upcoming meeting between al-Maliki and al-Sadr
These are the articles I discussed on the My FX Buddies Podcast:
A statement from the Finance regarding raising the value of the Iraqi dinar
Today, Saturday, the Ministry of Finance issued a statement regarding raising the value of the Iraqi dinar.
And the ministry stated in a statement it received (the Fourth), that "the writer Laheeb Hegel said that at a time when the political elites in Iraq are still facing a dead end regarding the formation of the government, the value of the Iraqi dinar has returned to form a source of contention that can be used to score populist points. And for that On February 28, the House of Representatives hosted Minister of Finance Ali Allawi, based on the initiative of the Vice President of the Sadrist Movement, Hakim al-Zamili, to address the exchange rate and the effects of inflation on ordinary Iraqi citizens.
And she continued, "Moreover, on March 14, the Federal Supreme Court will host Allawi and the Governor of the Central Bank of Iraq, following a lawsuit demanding the strengthening of the dinar."
She explained that "the Central Bank of Iraq devalued the national currency in December 2020 amid a sharp decline in crude oil prices globally, which threatened an economic collapse, especially since Iraq depends a lot on oil export revenues, and it must be noted that devaluation does not It is very popular because it leads to an immediate increase in the prices of imported goods.”
Not for one year..a big surprise for Iraq's next budget
Member of Parliament Jamal Cougar confirmed today, Saturday, that the next budget is supposed to be approved for the next 3 years and not for .one year, according to the financial management decision issued in 2019 Cougar said in a statement to (Baghdad Today), "The decision included in the Financial Management Law for the year 2019 is that the Ministry of Finance is mandated, in coordination with the Ministry of Planning, to present a budget for the ".next three years
He added, "This law was not implemented in the year 2020 due to the economic crisis as a result of the drop in oil prices, and part of the financial management law ".was implemented in the year 2021
And Cougar, "making the budget for three years is a positive thing, as the new government's program will be considered in the draft budget, which must express the government's vision and planning," noting that "it was supposed to be 4 years to ".match the age of the government
Next Monday.. Cautious optimism precedes an upcoming meeting between al-Maliki and al-Sadr
Politicians and observers of political affairs expressed their optimism that the blockage in the country's political process will break, following the phone call made by the leader of the Sadrist movement, Muqtada al-Sadr, to the leader of the State of Law coalition, Nuri al-Maliki, which means that the ice has melted between the two parties and the possibility of moving forward with the process of selecting the president and forming the government. The upcoming elections, according to the constitutional entitlements, after long months of waiting, disagreements and anticipation.
Al-Hanana meeting: An agreement to pass the Democratic candidate for the presidency .. and discuss the name of the Prime Minister within two days
Informed sources from inside Al-Hanana revealed, on Saturday, March 12, 2022, that the meeting of the leader of the Sadrist movement, Muqtada Al-Sadr with the delegation of the Coordination and Sovereignty Framework, led to an agreement on naming Riber Ahmed, the Kurdistan Democratic Party candidate, as president of the Republic of Iraq, in addition to defining a consensual mechanism for choosing a president. New ministers within 48 hours.
The sources told Al-Masala that during the Al-Hanana meeting, the meeting agreed to choose Reber Ahmed, the Kurdistan Democratic Party candidate for the post of President of the Republic, in exchange for guaranteeing the PUK’s share in the next government.
She added that there is no agreement yet on the candidate for the presidency of the Council of Ministers, referring to the Supreme Committee between the Sadrist movement and the coordination framework, which will hold a meeting in the coming days to discuss the mechanism for selecting a consensual candidate for the position of the next prime minister.
As for the economic situation, Al-Sadr informed the delegation of the framework of the need to find solutions to the economic crisis and to find a study to reduce the exchange rate of the dollar against the Iraqi dinar.
Al-Sadr stressed, according to the sources, the need for political forces to make all concessions to overcome the current political crisis.
A delegation from the coordination framework, including Hadi Al-Amiri, Faleh Al-Fayyad, Ahmed Al-Asadi, accompanied by the Speaker of the Iraqi Parliament, Muhammad Al-Halbousi and the head of the Sovereignty Alliance, met earlier today with the leader of the Sadrist movement, Muqtada Al-Sadr, at the latter’s headquarters in Al-Hanana district in Najaf.
The leader of the Sadrist movement, Muqtada al-Sadr, proposed to the head of the State of Law coalition, Jaafar al-Sadr, as a candidate for the next government.
The source considered that Al-Sadr, with his proposal, seeks to open a new door on a political settlement to get out of the political impasse.
On Thursday, March 10, 2022, al-Sadr made contacts with a number of political figures in Iraq, including the head of the State of Law coalition, Nuri al-Maliki.
Al-Sadr and the framework set the outlines for forming the next government
Two identical political sources revealed, on Saturday, that the meeting of the leader of the Sadrist movement, Muqtada al-Sadr, with the delegation of the coordination framework, which includes Shiite forces, led to an agreement on naming Riber Ahmed, the Kurdistan Democratic Party candidate, as president of the Republic of Iraq, in addition to defining a consensual mechanism through which a president is chosen. New for the next federal government.
A delegation from the coordination framework, including Hadi Al-Amiri, Faleh Al-Fayyad, Ahmed Al-Asadi, accompanied by the Speaker of the Iraqi Parliament, Muhammad Al-Halbousi and the head of the Sovereignty Alliance, met earlier today with the leader of the Sadrist movement, Muqtada Al-Sadr, at the latter’s headquarters in Al-Hanana district in Najaf.
The two sources told Shafaq News Agency that the meeting in Al-Hanana agreed to choose Riber Ahmed, the Kurdistan Democratic Party candidate for the post of President of the Republic, according to an appropriate vision and the participation of the Patriotic Union of Kurdistan in the next government.
They also said that there is no agreement so far on the candidate for the presidency of the Council of Ministers, referring to the Supreme Committee between the Sadrist movement and the coordination framework, which will hold a meeting in the coming days to discuss a consensual selection mechanism for the position of the head of the next federal government.
With regard to the economic situation, Al-Sadr informed the framework delegation of the need to find solutions to the economic crisis in conjunction with the rise in food prices and control of the market while finding a study to reduce the exchange rate of the dollar against the Iraqi dinar, according to the two sources.
The two sources quoted al-Sadr as stressing the need for political forces to make all concessions to overcome the current political crisis.
They continued by saying that the meeting of Al-Hanana, which lasted for two hours, confirmed the cohesion of the tripartite alliance between the Sadrist bloc, the Kurdistan Democratic Party, and the Sovereignty Alliance.
The leader in the Shiite coordination framework, Ali Al-Fatlawi, told Shafak News Agency earlier today; “The leader of the Sadrist movement, Muqtada al-Sadr, officially put forward the name of Jaafar al-Sadr as a candidate for prime minister during the next stage, and we, in the coordinating framework, have no objection to this nomination, but we also have candidates for this position.”
An informed source told Shafak News Agency yesterday, Friday; The meeting of the Shiite coordination framework witnessed the discussion of the Sadrist bloc candidate Jaafar al-Sadr and the mechanism of passing it in one basket.
The forces of the Shiite coordination framework held a meeting earlier yesterday, Friday, at Hadi al-Amiri’s house, a day after telephone talks held by Muqtada al-Sadr with Nuri al-Maliki, which melted the ice of the rift between the framework and the Sadrist movement, which caused the stumbling of the passage of the new government.
A political source told Shafaq News Agency, that the meeting will be attended by Al-Maliki and leaders in the framework, to discuss the details of the phone call with Al-Sadr, and subsequent developments in the political scene.
Al-Sadr after the Hananah meeting: Neither eastern nor western..a national majority government
After the Hananah meeting, the leader of the Sadrist movement tweeted: Neither eastern nor western..a national majority government.
Sources stated that the Al-Hanana meeting included the assertion of the leader of the Sadrist movement, Muqtada Al-Sadr, that the current political crisis should be ended as soon as possible. In the meeting, Mr. Al-Sadr stressed the need for everyone to make concessions in order to get out of the crisis and the existing political impasse due to the insistence of each party on its positions
An expert reveals an Iraqi financial fund containing 3 billion dollars, which was established by Iraq half a century ago
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the obstacles to establishing the Sovereign Fund in Iraq.
Saleh said in a press statement, "The establishment of the sovereign fund depends on setting the price of oil within the federal budget law, and the legislation of the budget law for the year 2022 depends on the date of forming the new government."
And he indicated, "The Iraqi authorities support the establishment of the sovereign fund after the increase in total revenues resulting from the sale of oil."
Saleh explained, "The provisions of Article 19 of the Financial Management Law in force in Iraq No. 6 of 2019 stipulated covering the deficit and providing the surplus for use in the budgets of the following years, including the Sovereign Fund, according to the management and investment of official reserves."
While the economist Nabil Al-Ali revealed "the existence of the External Development Fund, which was established by Iraq in the seventies of the last century, and whose assets amount to about 3 billion dollars, but this fund is absent and does not provide the state with revenues, and no one knows where its annual revenues go."
In a press statement, he stressed, "the importance of establishing an internal development fund, the management of its financing and investment is outside the powers of the government, and it enters into investment partnerships for development projects with local and international partners to implement them inside Iraq, such as energy or housing projects, transportation projects and others."
He mentions the calls of a number of political forces and economists, which escalated for the second week in a row, for the necessity of establishing an Iraqi sovereign fund similar to several countries in the region, so that the fund would seize the current financial abundance after the rise in oil prices, and manage this wealth and use it in the context of alleviating the severity of any crisis future finance
US State Department: We will study the possibility of easing sanctions on Venezuela
but with one condition
link this was in Iraq's news
The US State Department announced the possibility of Washington studying easing sanctions imposed on Venezuela if negotiations progress between the Venezuelan authorities and the opposition.
"We have confirmed that we will reconsider some points of the sanctions policy only if there is tangible progress in negotiations aimed at achieving the aspirations of the Venezuelan people for true democracy," State Department spokesman Ned Price said during a press conference on Friday.
The White House had confirmed that a US delegation visited Caracas recently, where they discussed the "energy security" file, along with other issues.
This comes against the backdrop of high oil prices in light of geopolitical tensions as a result of the Russian military operation in Ukraine and the sanctions imposed by Western countries on Moscow.
March 11th, 2022
some of these may be repeats but I wanted to make sure you had them
Al-Maliki and Al-Sadr
As soon as he was nominated to the media, the leader of the Sadrist movement, Muqtada al-Sadr, contacted the head of the State of Law coalition, Nouri al-Maliki, until the Iraqi street was relieved, but it angered .everyone waiting for more division among the Shiite elites
The importance of communication stems from the fact that it is a crossroads between two great leaders, a rupture .prevailed between them that lasted for years, and greatly fueled the fires of national schism, especially the Shiites
Evidence of the importance of communication, positive reactions to it in social communication, and reality, while others viewed it with hate and pain, because they do not want such communication to take place, as a continuation of .the (no reconciliation) situation
What is required to culminate in communication, with a step that has become a national necessity, is the joint work between Nouri al-Maliki and Muqtada al-Sadr, after the quarrel and disagreement lasted, which is not in the national .interest
Rather, it must be said that reconciliation between al-Maliki and al-Sadr is more urgent and more necessary than any other reconciliation, because it repairs a rift based on political complications that had its time and circumstances, but it .still affects the present
The national leader is the one who tramples on the past decade, and the one inspired by history does not find the .great reasons that necessitate the continuation of the quarrel and division The future is the goal, and clinging to the veils of past disputes that have been tampered with with new days and .circumstances, will not help in the future obelisk
An upcoming meeting between al-Sadr, al-Maliki and political figures
Today, Thursday, a source in the coordination framework revealed an upcoming meeting between .the leader of the Sadrist movement, Muqtada al-Sadr, and political figures The source told (Baghdad Today), "The upcoming meeting will include the leader of the Sadrist movement, Muqtada al-Sadr, the leader of the State of Law coalition, Nuri al-Maliki, Parliament ".Speaker Muhammad al-Halbousi, and the Kurdistan Democratic Party's leader, Massoud Barzani
On Thursday, the leader of the Sadrist movement, Muqtada al-Sadr, made phone calls to a .number of political figures A statement by his private office in Najaf, received by (Baghdad Today), said that "Al-Sadr made phone calls to Masoud Barzani, Parliament Speaker Muhammad al-Halbousi and Nuri al-Maliki's head of the State of Law coalition to discuss some important issues related to the current Iraqi ".situation
Iraq and OPEC reassure the oil market: We are working to achieve a balance between supply and demand
On Thursday, Iraq and OPEC affirmed their keenness to achieve a balance between supply and demand, against the backdrop of the Russian invasion of Ukraine and the United States' imposition of a ban on the import of Russian oil and gas.
In a statement received by Shafaq News Agency, the Iraqi Oil Ministry stated that Minister Ihsan Abdul-Jabbar Ismail met with the Secretary-General of the Organization of Petroleum Exporting Countries "OPEC" Muhammad Barkindo, on the sidelines of his participation in the CERAWeek2022 conference that is being held in Houston for the period from 7-11 March .
The Minister of Oil said that during the meeting, they discussed developments in the global oil market in light of the current situation and war between Russia and Ukraine, and its repercussions on the oil market.
The two sides affirmed the "OPEC +" keenness to achieve a balance between supply and demand and to work for stability in the oil markets.
Earlier today, the UAE Energy Minister, Suhail Al Mazrouei, announced the UAE's commitment to the "OPEC +" agreement.
Al Mazrouei said in a statement to the Emirates News Agency, WAM, that "the UAE is committed to the (OPEC +) alliance agreement and its current mechanism for adjusting monthly oil production."
Earlier, US President Joe Biden said that Washington had banned energy imports from Russia due to the situation in Ukraine. Meanwhile, Biden acknowledged that such sanctions would keep fuel prices at US gas stations going up, which have already risen by 75 cents a gallon since the start of the Russian operation in Ukraine.
Al-Sadr discusses with Al-Maliki the political situation and the exit from the state of obstruction
link hopefully 2 hours from now there won't be an article saying it's not true
On Thursday, March 10, 2022, the leader of the Sadrist movement, Muqtada al-Sadr, made .contacts with a number of political figures in Iraq, including the head of the State of Law coalition, Nuri al-Maliki
In a statement received by Al-Masala, Al-Sadr's media office said that Muqtada Al-Sadr made phone calls to Masoud Barzani, Parliament Speaker Muhammad Al-Halbousi, Head of State of Law Coalition Nuri Al-Maliki, and Head of .Sovereignty Alliance Khamis Al-Khanjar, to discuss some important issues related to the current Iraqi situation Hisham al-Rikabi, director of the media office of the head of the State of Law coalition, tweeted that al-Maliki received a phone call from the leader of the Sadrist movement, Muqtada al-Sadr, and the two sides exchanged developments in .the political situation and how to find solutions to end the current crisis
Al-Maliki reveals what he exchanged with Mr. Al-Sadr in their phone call
The Director of the Press Office of the President of the State of Law Coalition, Nuri al-Maliki, revealed what the latter circulated with the leader of the Sadrist movement, Muqtada al-Sadr, in their call this evening, Thursday.
Hisham al-Rikabi said in a tweet on Twitter: “The head of the State of Law coalition, Nuri al-Maliki, received this evening a phone call from the leader of the Sadrist movement, Muqtada al-Sadr, and the two sides exchanged developments in the political situation and how to find solutions to end the current crisis.”
Al-Sadr’s office announced this evening that the leader of the Sadrist movement had made phone calls to the head of the Kurdistan Democratic Party, Massoud Barzani, the Speaker of Parliament, Muhammad al-Halbousi, the head of the State of Law coalition, Nuri al-Maliki, and the head of the Sovereignty Alliance, Khamis al-Khanjar, “to discuss some important issues related to the current Iraqi situation.”
Ukraine war sparks food price surge in Iraq causing public anger
Prices of many food items and construction materials imported from Ukraine have risen by up to 50 per cent
Hundreds of Iraqis took to the streets on Wednesday in the southern city of Nasiriyah to protest against food price increases that are being blamed on the war in Ukraine.
Since the Russian military campaign began on February 24, prices of many food items and construction materials that are imported from Ukraine have increased by 20 per cent to 50 per cent in Iraqi markets. Prices of wheat were already increasing because of rising global demand and drought in producing regions.
This has added another burden on a nation where the national poverty rate is 31.7 per cent in a population of 40 million, according to government statistics released at the end of 2020.
“We demand a share of oil to each Iraqi citizen from now on until all our demands are met,” a white-turbaned man said, addressing protesters who gathered at the city’s Al Haboubi Square. The square was the centre of Nasiriyah's months-long pro-reform protests in late 2019 and early 2020, that began in Baghdad and engulfed the country.
The protesters waved Iraqi flags and held posters for those killed in clashes with security forces and Shiite militias since protests erupted. Some shouted: “With our souls and our blood, we will sacrifice for Iraq.”
The price increase comes only a few weeks before Ramadan, which normally means price increases for some food items.
"One of the things that affects the Iraqi market is the Russian-Ukrainian war,” shop owner Abu Karrar Al Fariji in Baghdad’s Jamila food market, told AP.
Mr Al Fariji said the price of a box of 24 one-litre bottles of Ukrainian cooking oil jumped from up to 48,000 Iraqi dinar (about $32) to 65,000 Iraqi dinar (about $44.50).
“This hardened the situation for citizens and negatively affected low-income people," he said.
Although Iraq produces cooking oil and flour, production depends heavily on importing raw materials from other countries such as Ukraine.
In an attempt to control prices and alleviate poverty, the Iraqi government approved some measures on Tuesday.
These include the suspension of customs duties on food products, basic consumer goods and construction materials. That decision will be reviewed after two months.
Iraq will also pay civil servants and pensioners whose income does not exceed one million dinars (almost $700) a monthly allowance of about $70.
The government also said that merchants who manipulate prices at the markets will be held accountable.
Iraq... The dinar devaluation inflames the markets and popular congestion ahead of Ramadan
March 10th, 2022
Determining the voting session for the President of the Republic is still early: subject to consensus
Today, Thursday, MP Amir Al-Maamouri confirmed that a session to vote on the candidate for the President of the Republic is still early.
Representative Amir Al-Maamouri said in a statement to the official newspaper, which was followed by (the fourth), that "talks are still ongoing between the political blocs," noting that "setting a session to vote on the candidate of the President of the Republic is still early because the period of verifying the candidates' information has not yet been completed," explaining that "the two parties The Kurds are still discussing this file, but so far no outcomes have emerged from those discussions."
He pointed out that "the next session of the House of Representatives must decide the vote on the position of the President of the Republic until the political process proceeds, and all papers will be presented in this session."
He explained that "what is required of the Presidency of Parliament, after examining the papers of applicants for candidacy for the position of President of the Republic, is to determine the day of the session subject to political consensus, and in all cases, the Presidency of Parliament is obligated to set the session for a period not exceeding next week."
Iraq expects to achieve $20 billion due to high oil prices
The Iraqi government expected today, Thursday, to achieve cash benefits of 20 billion dollars; due to high oil prices.
The financial advisor to the Prime Minister said; The appearance of Muhammad Saleh, today, that the financial situation and its expected indicators during the year 2022 indicate that the average price of a barrel of oil will not be less than $100, compared to the revenues of the 2021 oil budget, which estimated its average annual oil revenues at less than $70 a barrel.
He added that expected net financial surpluses will not be less than 20 billion dollars, and that the prevailing cash flows will be reassuring, and there is no need for any form of borrowing.
It is noteworthy that Iraq depends by 95 percent on crude oil export revenues to support its annual budget.
A legal expert removes the decisions of the Federal Court from raising the price of the dollar
Today, Thursday, the legal expert advisor, Salem Hawass, considered that the decisions of the Federal Supreme Court regarding the rise in the price of the dollar .will be more directive than final Hawass said in a press statement, received by (Baghdad today), that "the lawsuit pending before the Federal Court regarding raising the price of the dollar against the Iraqi dinar, which will be considered on the 14th of this month, will be more directive than final, or an amendment to the exchange rate, or an appeal not to
The constitutionality of the law, because there is no legislation or law at all, or the so- ”.called budget, except for a draft law that has not yet seen the light of day He added, "The Federal Supreme Court has general and absolute jurisdiction in legal and constitutional matters if it is in violation of its functions under the provisions of Article 93 of the Constitution, but it is competent to monitor the constitutionality of laws and regulations in force, while the draft budget and others are still draft laws and this falls within the jurisdiction of the House of Representatives."
More than the ". jurisdiction of the Federal Supreme Court Hawass was surprised "by the proposal of some legal experts who go far from the jurisdiction of the court and before the birth of the budget law, as it still represents a draft law that has not yet been proposed, as stated in their statements that it may ."be challenged before the Supreme Federal
He continued, "It is not possible, or even impossible, for the court to take a decision to reduce the exchange rate of the dollar to a specific and specific price, because this is not within its jurisdiction on the one hand, and because the rise and fall is not achieved by a judicial decision, but through economic laws, supply and demand, currency auction and a political decision on the other hand, and because the appeal It was not stated on the basis of a law or regulation, but rather on the basis of a ".draft law from a third party
He explained, "This violates the provisions of Article 93 (clause first) of the constitution if the lawsuit is based on that project, and therefore I think that the court will direct Parliament and the relevant authorities to reduce the dollar to protect citizens and people with limited income, as it went in many of its decisions to .the method of guidance and urged Parliament on it
First Abu Dhabi Bank expands its presence internationally by opening a representative office in Iraq
First Abu Dhabi Bank announced the expansion of its international operations by opening a representative office in Iraq, as part of its international growth strategy aimed at facilitating trade flows in the region and enhancing its financial services to international clients.
The UAE enjoys important trade relations with Iraq, where the volume of bilateral trade between the two countries exceeded $13.11 billion in 2020. Based on its position in the region and its strategic presence on 5 continents, the international network of First Abu Dhabi Bank currently covers about 70% of the Iraqi crude oil export destinations around the world. the scientist.
First Abu Dhabi Bank in Iraq will mainly provide its services to government agencies, Iraqi public companies and institutions, and institutions looking to do business in Iraq. The office will contribute to enhancing the diversified services provided by First Abu Dhabi Bank to its clients, and supporting trade across the most prominent markets in the Middle East and North Africa and global markets.
Hana Al Rostamani, Group CEO of First Abu Dhabi Bank, said: “The opening of a representative office for the bank in Iraq is another step in the bank’s strategy to expand its business internationally, and confirms our commitment to enhancing trade flows between the UAE and developing economies. By taking advantage of our strong business in the UAE and the region, and by focusing on selecting elite clients, First Abu Dhabi Bank will contribute to providing opportunities that support the growth of the Iraqi economy, including continuing the necessary investments to improve and rebuild the country's infrastructure. The International Business Network of First Abu Dhabi Bank, covering 5 continents, provides the best global financial relationships and expertise to support the business of local, regional and international companies that wish to develop their businesses at home and abroad.
Turkey Begins Talks To Import Gas From Iraq
Sources in the Ministry of Oil and Natural Resources of the Kurdistan Regional Government of Iraq revealed, on Thursday, a movement to revive the gas export project to Turkey from the Khormo gas fields in Erbil and Chemchemal in Sulaymaniyah, indicating that the Turks have been very interested in the file for weeks despite the existence of obstacles Technical and legal inside Iraq to complete the agreement.
And the newspaper, “Al-Araby Al-Jadeed”, quoted in a report, which was seen by “The Information”, an official in the Ministry of Oil and Natural Resources as saying, “There is a new Turkish desire to revive the understandings about buying gas,” stressing that “Turkey desires this exclusively from the Baghdad gate and within the understandings With the regional government, of course.”
The official added, "Iraq can provide gas to Turkey in large quantities if infrastructure development projects are available, which currently need at least two years to be able to export, and Turkey can help with that, as we know."
He explained, "Geographically, Iraq is the closest country to Turkish territory, and the pipelines will be completed with a shorter lifespan through Dohuk Governorate, but the matter needs internal understandings due to the return of the current dispute in the file of oil and gas management between Baghdad and Erbil after the Federal Court's decision, last month, the unconstitutionality of the Oil and Gas Law." applicable in the Kurdistan Regional Government.
But an Iraqi official in Baghdad is considered close to the office of Prime Minister Mustafa Al-Kazemi, according to the newspaper, commenting on the issue that “Turkey will wait in the file of importing gas from the Kurdistan region, after the Federal Court’s decision, which ruled that the oil fields are under the administration of Baghdad and Erbil has no right to contract. Any foreign understandings or agreements is a sovereign file.”
At the same time, he suggested Turkey’s desire also to keep its understandings with Baghdad and not with the regional government, and stresses by saying that “Al-Kazemi’s government has previously welcomed broad commercial understandings and there is a project to open a new border crossing with Turkey, as well as building an oil pipeline to export Iraqi oil through the Turkish port of Ceyhan, Therefore, the option of importing Turkish gas from Iraq can be considered valid and appropriate if the current legal and political problems are resolved, because the Turks will enter as investors and developers for those fields, meaning that they will be keen to deliver gas to Turkey as soon as possible.
He points out that "Iraq needs the gas used to generate electric power, and therefore the need for partnership in gas production with the Turks is more important locally than its production, to get rid of dependence on Iran," stressing that "the Al-Kazemi government has sought during the past periods to attract companies working in the fields of exploration." and gas exploration, but these endeavors collided with obstruction and political wills opposing this trend.”
Announcing the imminent opening of the largest hotel in Iraq after Al-Rasheed
The Mayor of Ramadi District, Anbar Governorate, Ibrahim Al-Janabi, announced on Thursday the imminent opening of the largest hotel in Iraq after the Al-Rasheed Hotel.
Al-Janabi said in a statement to the "Information" agency that "the next few days will witness the opening of Iraq's largest hotel after the Al-Rasheed Hotel on the banks of the Euphrates River in the city of Ramadi, after the completion of more than 90% of the hotel's work, which was designed according to the latest international designs."
He added that "the cost of the project is 150 billion dinars, and its area is about 30 acres, and it consists of 13 floors and is the highest hotel designed in Iraq. The local government being the implementing agency for the project.”
He explained, "The opening of the hotel coincided with the imminent reception of many delegations of local, Arab and international investment companies that expressed their agreement to obtain investment opportunities in Anbar," noting that "the project is one of the most important giant projects accomplished by the local government in light of the critical economic situation that The country is passing through.” finished
Al-Kaabi calls on Parliament to propose a draft budget for 2022 in coordination with the government
The Vice President of the Sadrist bloc, Hassan Al-Kaabi, called on Parliament to propose a draft budget for the current year, in coordination with the government, to expedite its approval.
Al-Kaabi said that the 2022 draft budget is very important for the administration of the state and all governorates, and the benefits of approving it are not limited to official institutions and are reflected in the overall work of the public and private sectors.
He added that the bylaw of the executive authority prevents the disruption of important laws such as the budget law, and there must be cooperation and coordination between the legislative authority and the government by proposing the draft budget from the House of Representatives and through full coordination with the Ministry of Finance and the government, and this should happen so that the budget items are not challenged before the federal government .
The exchange rate of the dollar in the face of the judiciary and Parliament
The exchange rate of the dollar in the face of the judiciary and Parliament, and deputies await the decision of the Federal Court to promote more mobility within the House of Representatives.
After postponing it to mid-March, Parliament is eagerly awaiting the decision of the Federal Court in the matter of the dollar exchange rate lawsuit, amid parliamentary waiting for the Minister of Finance’s treatments Ali Allawi And his answers, which he promised to provide within a time limit not exceeding a month to mid-March, the consideration of the case of the dollar exchange rate was postponed by a decision by the Federal Court amid a parliamentary movement also looking at the exchange rate. deputies say
Until the decision of the Federal Court, some deputies are waiting for the answers of the Minister of FinanceAli Allawi On some of the questions that were directed to him regarding the repercussions of exchange and currency smuggling, in addition to his treatment, which he promised to present within a time limit not exceeding thirty days, according to deputies.
According to the data, the dollar faces two paths, the first towards the judiciary and the second towards Parliament. Both paths are supposed to reach the exchange rate, solutions that have not yet been revealed, whether towards reducing or maintaining the exchange as it is.
March 9th 2022
After the Russian oil embargo.. Washington: We are working to activate the energy file with Iraq
Exchange rate.. look ahead
A specialized expert explains the negative effects of high oil prices on the Iraqi economy
Member of Parliament and an expert in economics, Nermin Maarouf, explained, on Wednesday, the negative effects of high oil prices on the Iraqi economy, as well as the impact of the current situation between Russia and Ukraine on Iraq.
Maarouf said in an interview with "Nass" (March 9, 2022), that "there is a prevailing belief that oil-producing countries will benefit from the rise in oil prices, and we must not forget that the large increase in oil prices will stop the industrial sector and production, and this will cause prices to increase. demand, in the medium term.
And she adds, "In this new world order, the economies of all countries are interconnected, and crises and economic and financial problems spread as a wave to all countries of the world," noting that "the Russians have work and investment, it is true that we are producers and exporters of oil and we own gas reserves, but at the same time 90% Our goods and food come from outside the border."
She pointed out that "the two countries, Russia and Ukraine, top the list of countries exporting wheat, grains and foodstuffs... It is true that countries such as Russia, the United States and other countries have these crops, but the transportation cost is high, and Iraq's markets themselves suffer from the phenomenon of inflation."
Maarouf emphasized that "the only way available to us is to deal carefully with the situation and not try to establish trade and economic relations with only a few countries, and to prepare ourselves for all possibilities of escalation of conflicts and expansion of war."
Earlier, an Iraqi economic expert monitored the "negative" effects of high oil prices on Iraq, including undermining economic reform, as well as significantly increasing public expenditures.
The professor of economics at the University of Basra, Nabil Al-Marsoumi, said in a blog post followed by "Nass" (March 3, 2022), that "it is possible to look at oil prices without the positive angle represented by the rise in oil revenues, which is positively reflected on the public budget, economic growth and investment, through Looking at the disadvantages of high oil prices on Iraq, which are as follows:
1 The increase in the prices of oil derivatives, which currently amount to about 3 billion dollars annually, in addition to the increase in smuggling of oil derivatives due to the large gap between the price of subsidized fuel and its price in the global market.
2 The increase in the prices of imported Iranian gas, which is linked to a price equation, one of which is the price of oil.
3 The possibility of a rise in the imported electricity bill due to the high prices of gas used as fuel to produce electricity.
4 The high prices of imported goods, especially food and petrochemicals, due to the high prices of oil, which is used as fuel and as a raw material in many industries, as well as the high prices of local products, most of which use imported production requirements.
5 High liquidity will lead to speculation and a significant increase in assets, especially real estate.
6 Undermining economic reform, as high oil prices weaken the incentive to reform the Iraqi economy and transform it from a rentier economy to a diversified one.
7 Significantly increasing public expenditures will result in a permanent increase in future burdens on public budgets in the coming years, especially when oil prices decline later.
Al-Marsoumi highlighted, earlier, the effects of sanctions against Russia as a result of its invasion of Ukraine, represented in removing it from the "Swift" regime, on its investments in the Iraqi energy sector.
Al-Marsoumi said, in a blog post followed by "Nass" (February 28, 2022), that "the SWIFT system, which is the abbreviated name of the Association for Financial Communications between Banks in the world, which connects more than 11,000 financial institutions operating in more than 200 countries, makes it a The backbone of the remittance system in the world, and it is the most powerful financial weapon with which a country can be punished, as it will cut off the country from a large part of the global financial system.”
He added, "Russia is the second largest country within Swift in terms of the number of users after the United States, and the volume of financial transactions linked to Russia through Swift reaches hundreds of billions of dollars annually, and removing Russia from Swift will harm Russian trade and make it difficult for Russian companies to do business. commercial as its banks will not be able to communicate securely with banks outside its borders, which is the same punishment that was imposed on Iran in 2014 after developments in Tehran’s nuclear program, the interruption of Russian exports would harm a wide range of industries, extending from fertilizer manufacturers To manufacturers of foodstuffs, automobiles and aircraft, although Russia is best known as a major exporter of oil and gas, along with Ukraine, is also a major supplier of grain to the world. The two countries account for just under a third of global wheat exports."
He continued, "If these sanctions were strict, and resulted in a decrease in Russian oil exports to Europe and the United States, then Moscow could export to China and Asian countries, and oil prices would rise more than they are now... This rise will partially compensate Russia for the loss of part of its exports. But if Russia is expelled from the global payments system (SWIFT), it can export oil and gas as usual, but it cannot receive the revenues from these exports, and in this case it will resort to what Iran has resorted to, which is opening accounts in western and eastern banks to store money in them until It will be withdrawn at a later time when the crisis subsides."
Al Marsoumi explained, “In this case, this could negatively affect Iraq, as the Asian market imports about two-thirds of Iraq’s exports of crude oil, especially India and China. market in Asia, while Iraq can increase its oil exports to European markets, especially in light of the high costs of shipping and insurance on Russian oil exports.”
He indicated that "On the other hand, there are Russian investments in the Iraqi oil and gas sector of more than 13 billion dollars, as Rosneft owns 60% of the Kurdistan oil pipeline, which is the main operational export line in Iraq, and Rosneft is constructing a new gas pipeline whose capacity is expected to reach The export of gas to 30 billion cubic meters of gas annually, which represents about 6% of the total gas demand in Europe. Also, the Russian companies represented by Lukoil, Gazprom and Rosneft are investing in the West Qurna/2, Badra, Block-10 and some fields of Kurdistan, and will be affected Most of the Russian investments in Iraq, especially for companies operating in the oil licensing fields, that pay their costs and profits in kind, i.e. in return for a certain amount of oil produced, which requires searching for a new mechanism for settling accounts with the Iraqi government, or this may lead to the withdrawal of Russian companies from the Iraqi fields, in addition to other difficulties. Concerning how Russian companies implement their subcontracts with companiesothers and how to finance them.
Al-Khikani: The Continuation Of The Status Quo Will Lead The People To Rise Up Against The Government
Political analyst Karim Al-Khikani said that the continuation of the current situation and the crises in the country will push the people to rise up against the government and the political class, pointing out that the recent elections were aimed at radically changing the situation and not going for the worse.
Al-Khikani told Al-Maalouma, "The political class went towards blockage and searched for special partisan interests away from achieving the people's interest and holding the government accountable for its failures throughout its existence in power."
He added that "the situation reaching what it is now and the government's attempt to silence specific segments with small amounts requires a position from Parliament and urgent decisions that obligate the authority to take measures that would hold accountable those who raise prices and arrest crisis dealers and food monopolists."
And he indicated that "the people will eventually rise up if the status quo continues in light of the politicians' preoccupation with their own gains and the search for access to power, at a time when the people suffer from low purchasing power and the rise in most prices, in exchange for prosthetic solutions that do not amount to a country that sells oil at a price that exceeds what was allocated in The budget is 80 percent.
5 Candidates resigned, and there was almost an agreement on Al-Kazemi assuming the presidency of the next government
The Shiite coordination framework is awaiting the entry of “heavy caliber” mediation, according to some leaks, on the crisis line after its opponent, the “triple alliance” approached achieving a two-thirds majority.It is believed that the new mediator, whose identity has been preserved by the "Coordination" so far, is not far from the events that have taken place since the end of last February, in Eastern Europe!
Political parties believe that talking about mediation is part of the “rumors war” to influence public opinion and the (neutral) category in Parliament, whose votes the two parties (the tripartite and the coordination) are seeking to win.
In this context, the news is talking about the approach of a new (neutral) bloc to the tripartite alliance, while the name of the current Prime Minister, Mustafa Al-Kazemi, has become the only name for the next government.
And it is expected that a new government will be formed next April, as it is hoped that Parliament will announce the holding of a new session to elect the President of the Republic after mid-March.
From Eastern Europe to Iraq!
According to some leaks received by Al-Mada, some parties in the "coordination framework" are talking about "the imminent entry of a new mediator, one of the superpowers."
According to leaks coming from sources close to the dialogue rooms, "the coordination does not explicitly reveal the identity of the mediator, but it hints that it may be Russia."
It is known that Russia has been preoccupied since the end of last February with the invasion of Ukraine in Eastern Europe, and is facing difficulties in advancing towards the capital, Kyiv.
But the leaks, depending on the parties in the coordination framework, explain this intervention in terms of “Russia will win in Ukraine and be a strong player in the region and a pole facing the United States.”
Last week, unknown parties placed a large banner in the Jadriya area in central Baghdad bearing the image of Russian President Vladimir Putin, before it was removed from unknown destinations as well.
The Shiite forces had failed to persuade Muqtada al-Sadr, the leader of the Sadrist movement, to join the tripartite alliance that brings the latter together with the Sunni forces and the Kurdistan Democratic Party, more than one attempt.
Ismail Qaani, the head of the Iranian Quds Force, entered the crisis line three times, and was unable to dissuade Al-Sadr from his position, before an Arab Shiite leader tried, and faced the same result as Qaani.
The leader of the Sadrist movement, had spoken publicly last month, that he welcomes the existence of the coordinating framework, with the exception of Nuri al-Maliki, the former prime minister.
Al-Sadr accuses al-Maliki's Dawa Party of causing wasting about 450 billion dollars during my last government, and the spread of ISIS in 2014.
pressure papers
The news of the existence of a new mediation to bring the Shiite forces closer together is explained by the fact that it is among the "rumors" that promote pressure on al-Sadr.
Some sources talk about the Shiite forces now playing the “rising prices” card and putting pressure on the government in this regard in favor of negotiation, as they played before with the issue of the dollar exchange rate.
Al-Sadr had blocked the way in front of these attempts, according to observers, when he insisted on Parliament discussing the Minister of Finance and the Central Bank, last week, and presented more than once solutions to the rise in prices.
On the other side of the events, the information received by Al-Mada stated that a new bloc within the “neutral” category in Parliament is approaching the Triple Alliance.
The identity of that party has not yet been revealed, but for weeks the coalition has been trying to include the group, which has not announced any position so far from the opposing party (the tripartite and coordinating party).
Since the beginning of this week, the tripartite alliance has intensified its dialogues with the approach of announcing a session to choose a president of the republic.
Al-Kazemi alone
According to the informed sources, the coalition "has become close to gathering seats that allow it to pass its candidate for the presidency, and it has almost completely agreed to give Al-Kazemi a new mandate."
The sources had previously indicated to (Al-Mada) that the leader of the Sadrist movement has 6 candidates to head the next government, in addition to Al-Kazemi, his cousin Jaafar Al-Sadr, the former Minister of Municipalities, Adel Mahouder, and 3 others from Sadr's close circle.
Al-Kazemi assumed the premiership at a critical period in the country’s history that followed the resignation of former Prime Minister Adel Abdul-Mahdi following the October demonstrations that began in 2019.
The sources add that the number of those who will vote with the Triple Alliance in the session to choose the President of the Republic will be "28 seats."
At least 220 votes are needed to pass the presidential candidate, according to the latest interpretations of the Federal Court, which requested the presence of two-thirds of Parliament to complete the voting procedures for the “president.”
In the parliament session last Saturday, which was devoted to reopening the nomination for the third time for the position of Speaker of Parliament, the number of voters reached 203 parliamentarians.
The three lines
To this, a member of the coordination framework indicates that the bloc is moving more than one line towards the political crisis that erupted five months ago, following the legislative elections that took place last October.
A member of the Shiite Gathering, Wael Al-Rikabi, told Al-Mada that the coordination framework "is now working to bring the views of the Kurdish forces closer to agree on a consensual candidate for the presidency."
The tripartite alliance supports Reber Ahmed, the candidate of the Kurdistan Democratic Party, while the other party supports Barham Salih, the candidate of the Union Party.
In the second line, Al-Rikabi refers to “the continuation of dialogues with the Sadrist movement through the second and third lines” after al-Sadr froze the negotiations at the leadership level a month ago.
A member of the coordination framework asserts that the Sadrist movement "shows flexibility regarding the participation of all Shiite forces in the government, and has retreated from its previous stubborn positions."
Since al-Sadr's decision to freeze the negotiations at the beginning of last February, the latter has not been exposed to the political issue, and has not commented on developments in the matter of the negotiations.
Finally, al-Rikabi clarifies that the third line on which the Coordinating Committee is working is the “Announcement of the National Stability Bloc,” which is supposed to include more than 130 seats, and will be what has become known as the “blocking third.”
To control prices and provide the citizen with a livelihood... Al-Kazemi opens three
fronts at the same time, so support his war on corruption and traffickers!
On three fronts, this time, the government of Prime Minister Mustafa Al-Kazemi is waging a new battle, a battle to control prices, confront the repercussions of regional wars, and prevent their violent repercussions on the Iraqi interior, as well as on the war front against monopoly and greed, and a game of stealing food. The poor, the bankruptcy of the middle classes, and the plundering of their resources, after scandalous manipulations and speculation, ended with the high cost of living, which inflamed feelings, and the frenzy of the emergence of the fragile segments, and also that Al-Kazemi’s Third Front against those who are good at dancing on the pain of the poor and the destitute and consider any calamity, a gain and a fertile environment They are valid for political gain, pressure and the use of these (pain) as bargaining tools, and how many are those who harness their tools and information for these despicable goals.
Today, Al-Kazemi launches the first defender to confront this high wave, and tries to (break) its strong waves, with a very valiant breaker, as Minister of Interior Lieutenant-General Othman Al-Ghanimi, the feared man, whom you find in any hardship or difficulty the country is going through, since the early morning hours, we have monitored The teams of the security and control agencies are spread in the main markets in Baghdad, and others are secret and undeclared following the retail sale, and so it is in all the governorates of the country, amid clear popular satisfaction, and a noticeable return to prices almost to their previous era. This is, of course, accompanied by several measures taken by Al-Kazemi’s government, from Including starting immediately to address the conditions of the working classes, and pumping funds in reasonable quantities into the economic cycle, accompanied by import facilities, and customs and tax exemptions for suppliers of food commodities, also in line with the move towards securing three million tons of wheat, and the start of the Ministry of Commerce stores to prepare the ration agents for the first meal. Which will be followed by another meal in a few days,These measures are frankly unprecedented, fast, and transparent, to the credit of this government, which found itself trapped in this crisis without warning, as the Russian-Ukrainian war imposed itself on the scene without clear introductions.
From the war of the Russians and the Ukrainians to the war of the markets, the question jumps about the feasibility of a price-control war and the search for manipulators in the local markets launched by the Ministry of Interior based on higher directives, and here we would like to stress that it is an excellent step, it is true that Iraq includes thousands of large, medium and small markets, and it is true Hundreds of thousands of stores are scattered and that need corps for monitoring, visits and follow-up, but the control security measures were planned, as they mainly targeted wholesale markets, as well as food suppliers, in addition to the use of electronic monitoring teams that work around the clock to receive complaints and interact with grievances. Posted by people, directing internal teams to address them.
We say that these serious efforts are a source of pride and praise from the Iraqi people, especially for the role of the Commander-in-Chief of the Armed Forces, Prime Minister Mustafa Al-Kazemi, as well as the Minister of Interior Lieutenant-General Othman Al-Ghanimi, the Intelligence Agency, the Police Agency, and the rest of the working security services, but it should be These praises are followed by a clear popular interaction, by turning the Iraqi citizen into an information source for those who manipulate prices and undermine national peace and security, as these ISIS militants are no less deadly than those bearded with rotten beards, atonement and terrorism, but the difference between them, some of these monopolists are hidden among us. Billions are mercilessly devoured, while the price-raising machine presses the heads of the poor and squeezes their empty pockets!
Demonstrations in southern Iraq against the rise in prices
Several southern governorates witnessed, on Wednesday, demonstrations against the rise in food prices.
Mawazine News correspondents said that "Al-Warka district in Al-Muthanna governorate witnessed a demonstration and cut off the road with burning tires, in protest against the price hike crisis."
They added, "Al-Haboubi Square in the center of Dhi Qar also witnessed a demonstration that demanded control of prices, and demonstrators blocked the Dhi Qar-Basra road in protest against the rise in prices.
The Central Bank signs a memorandum of understanding with the Islamic Corporation for Investment and Exports
Today, Tuesday, the Central Bank of Iraq signed a memorandum of understanding with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), in the context of supporting economic and trade relations between member states of the Islamic Development Bank.
And the Central Bank stated, in a statement received by Mawazine News, that “this memorandum aims to enhance the activity of this institution in Iraq, especially in the banking sector,” adding that “it was agreed to hold periodic meetings for the purpose of exchanging experiences and information and holding workshops and training courses for Iraqi banks for the purpose of Benefit from the products offered by this institution in the field of securing international trade finance instruments.
He pointed out that "
And he indicated that "this institution also provides credit solutions, mitigate credit risks, and offers insurance and reinsurance products, which in turn enhance credit in accordance with the provisions of Islamic Sharia."
The Iraqis mock: From the "lentils" government to 100,000 dinars
In every crisis that passes through Iraq, governments rush to take a number of measures to address and confront the crisis.
The Cabinet's decision regarding the government grant of 100,000 dinars was met with a wave of ridicule on social media.
Activists on social networking sites promised it a patchwork solution added to the set of formal solutions offered by successive governments to rule Iraq, as well as recalling the previous government’s decision, “adding half a kilogram of lentils per person within the ration card quotas,” after which it was called the lentil government.
The government also considered those who receive more than 500 thousand dinars to be rich and are not covered by the "high cost of living" grant, according to observers.
Activists also published representative clips mocking the 100,000 dinars, which can be summed up in buying 4 cans of oil, in light of its current rise in local markets.
The decision of the Council of Ministers faced widespread ridicule on social networking sites in Iraq, wondering what the Iraqi government had provided during the last period.
The Cabinet had voted to approve a government grant of 100,000 dinars (the high cost of living) for four categories.
A cabinet statement stated that "the Cabinet voted to approve a government grant worth (100) thousand dinars, a cost of living for retirees, employees, social care and the destitute, according to instructions that will be announced later.
High prices kill Sulaymaniyah markets (photos)
The Russian-Ukrainian war cast a shadow over the local markets in Sulaymaniyah within the Kurdistan Region, as it was recently exposed to a new wave of high prices, especially basic foodstuffs that are included in the daily food basket, which burdens the citizens, the toiling and the poor who live on their livelihood daily.
Luqman Kakai, (owner of a food store), reviewed, during his interview with Shafaq News, the prices of some foodstuffs that witnessed a significant increase, indicating that "the price of one edible oil package is now 3750 dinars after it was 2250 dinars."
Kakai explained, "The price of a kilogram of sugar also rose to 1500 dinars, after it was 1,000 dinars, while the price of a bag of flour 50 kilograms reached 52 thousand, after it was 40,000 dinars, in addition to the increase in the prices of medicines and other consumer service goods. ".
For his part, Salam Abdullah (retired), attributed traders manipulation and raising prices, especially basic foodstuffs, to “the absence of control by the state,” stressing that “what is happening in the unprecedented rise in food prices during the last two days is due to hidden hands manipulating the power of Citizen".
In turn, Rayan Mahmoud spoke, introducing himself, "I am one of the owners of daily sustenance and my financial situation cannot bear any rise in prices (...) This rise caused me a shock and I am currently thinking of giving up some basic products (...) Our conditions have become unbearable."
On the other hand, the head of the Sulaymaniyah Chamber of Commerce and Industry, Sirwan Muhammad, indicated during a press conference attended by Shafak News Agency, that "the governorate's stores are full of foodstuffs, and there is no need to store materials in homes."
Muhammad added, "The rise in prices came due to some manipulation of prices, despite the presence of a slight increase in some materials as a result of their rise from the origin," noting that "the monitoring committees in the Sulaymaniyah administration seriously follow up on the governorate's markets and hold everyone who manipulates prices to account."
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