WOTS MON JUN 6 22
Iraq's credit rating and world confidence
These are the articles I discussed on the My FX Buddies Podcast:
Alsumaria News publishes the agenda of the parliament session scheduled for tomorrow, Wednesday.
Iraq's credit rating and world confidence
Double What It Got In 2021.. Baghdad Sent 400 Billion To Kurdistan In The First 4 Months
The economic expert, Nabil Al-Marsami, stated, on Monday, that the government sent 400 billion dinars to Erbil within the past months of 2022.
Al-Marsoumi said in a Facebook post seen by / the information / that “the amounts transferred by the Ministry of Finance to Kurdistan until April amounted to 400 billion dinars,” adding that “the remittances will reach two trillion dinars at the end of this year, which is equivalent to double what the region received in 2021.” .
He added, that this comes "even though the net revenues that Kurdistan achieves per month from selling oil and other revenues amount to 1.2 trillion dinars per month."
Government Revenues At The End Of 2022 Will Reach 142 Trillion Dinars
The Ministry of Finance announced, on Monday, the data for the month of April, indicating that the total oil revenues until the month of April amounted to 45 trillion dinars, and non-oil revenues amounted to 2 trillion dinars.
And the ministry stated, in a report seen by / the information /, that “the total current expenditures amounted to 29.7 trillion Iraqi dinars, while investment expenditures amounted to about 2 trillion dinars.” As for the total advances granted until the end of April, it was “2 trillion Iraqi dinars, and thus the surplus achieved is up to April 13.5 trillion Iraqi dinars.
He expected that "the total total revenues until the end of the year will reach 142 trillion dinars, while the total expenses and advances will be around 100 trillion Iraqi dinars, and Iraq will achieve a surplus that will exceed 40 trillion Iraqi dinars."
Parliamentary Finance sets the date for voting on the Food Security Law
Iran’s Central Bank Claims Highest Ever Foreign Currency Reserves
The Central Bank of Iran (CBI) claims it currently enjoys the highest ever foreign currency reserves in cash, saying it will utilize it to stabilize the market.
CBI governor Ali Salehabadi said on Monday that the bank has the largest cash currency reserve in the history of the country, “therefore we have no problem in balancing supply and demand in the foreign exchange market.”
His remarks came as the bank has reportedly started injecting cash dollars into the market to stop the current freefall of the Iranian rial as it has hit record lows against major currencies, while nuclear talks with the United States remain in limbo, prices are rising and popular protests continue.
Iran has increased oil exports despite United States sanctions since last year and claims to have been able to repatriate the revenues. However, it is not clear why the rial is falling and the economic crisis continuing if it has large foreign currency reserves.
The rial has been sliding since mid-March when year-long multilateral talks in Vienna to revive the 2015 nuclear agreement known as the JCPOA came to an abrupt halt. Washington and Tehran apparently were too far apart on some issues, including Iran’s demand that its Revolutionary Guard should be removed from the US list of terrorist organizations.
Since 2018, when Washington withdrew from the 2015 nuclear deal with six powers and reimposed sanctions, Iran's economic crisis has deepened with inflation rate reaching 50 percent and the rial losing over 75 percent of its value.
The Coordination Committee calls on the Finance Ministry to send the draft budget... and issues a warning
Today, Monday, the coordination framework called on the Ministry of Finance to expedite sending the draft budget law to the House of Representatives, while warning against attempts to circumvent the Federal Court law regarding Kurdistan oil
Al-Attar said in a statement received by Alsumaria News, that it “renews its stand with the people of limited income and the disadvantaged classes and calls on the House of Representatives to discuss and find serious solutions to expedite the legislation of the necessary laws to allow it according to the mechanisms established by the Federal Court during the period of the administration of daily affairs.
He called on the coordination, the Ministry of Finance to "send the draft federal budget in order to see it and search to address all problems and complete the assignments for all and not for one category without the other
The framework warned, "against attempts to circumvent the Federal Court law regarding Kurdistan's oil and political courtesy at the expense of the people's livelihood."
Coordination Framework: We reject the dissolution of Parliament and the holding of early elections
Today, Monday, Jassem Al-Alawi, the deputy from the coordination framework, ruled out the resort of the political blocs, in the current circumstances, to dissolving parliament, noting that understanding is the only solution to get out of the cycle of political blockage.
Al-Alawi said in an interview followed by (the Iraqi Media News Agency / INA) that the dissolution of the House of Representatives is restricted by the text of Article 64 of the Constitution, and that raising this matter aims to pressure some political parties.
He added that "the only solution to end the political dispute is consensus and return to dialogue to form a consensus government in which all political forces participate without any exclusion or marginalization."
He pointed out that “the coordination framework rejects the dissolution of parliament and the holding of early elections, and made it clear that Iraq has just emerged from early elections and repeating them will contribute to undermining the citizen’s confidence in the entire political process.”
Taxes announce the completion of a program to eliminate corruption in the currency sale window
The General Tax Authority issued a clarification regarding the Integrity Commission report that there is damage to public money estimated at 4 trillion dinars as a result of the corruption of the window for selling hard currency, while it indicated the preparation of an electronic program that eliminates the corruption cycle.
The Director General of the Commission, Osama Hosam Jawdat, told the Iraqi News Agency (INA), that "the hard currency auction follows the monetary policy of the Central Bank to control the exchange rate," noting that "when someone makes a transfer abroad, he must match this transfer with imports because he took the transfer at a price." The official exchange, not the one in the market.
He added, "It is assumed that the bills, the name and the complete information be submitted to private banks, and these banks, in turn, work (SWIFT) to the Central Bank, and on this basis the transfer is made," adding: "There is a problem in the database that comes from the Central Bank, where a mother comes in Similarity, singular or unclear, and even at the corporate level.
He continued, "There is an uproar in the Adhamiya Tax Department, and I personally inquired from some citizens, and it became clear that they have high taxes, amounting to 30 and 40 thousand dollars, and they are simple citizens such as taxi drivers and others."
He explained, "There are parties that take advantage of the citizens' full documents under the pretext of appointment and others, and their names are registered in the currency auction and financial transfer," noting that "the Tax Authority does not bear the responsibility for this because the names are sent to it complete with the documents, but the problem is with the National Bank, how can it be registered? These names are for simple people who have no income."
He stressed, that the Central Bank should control the issue of the currency auction and check the correctness of the names, noting that “the authority has developed short, medium and long-term plans, represented by removing the rings in reviewing citizens to increase revenues and facilitating the procedures of the auditors, while the medium, which has been almost completed and which will work with the identification number system instead of The name assigned to the remittances, and on this basis, no name will be accepted, but rather an identification number so that there is no similarity and will also end corruption and the like. As for the long-term plan, it includes the establishment of the comprehensive electronic system, which was included in the reform white paper, to be implemented 3 to 5 years.
He pointed out that "the identification number program is complete and its implementation is suspended on the budget
for the purpose of financing," stressing that "the program obliges the National Bank to set an identification number for the taxpayer and not a name until the similarity occurs."
And he indicated, "The recent report of the Integrity Commission was built on the basis of its visit to the sites and sees citizens complaining about taxes, and the amount announced by Integrity in its report was on the basis of the amount transferred from the Central Bank to abroad, that is, the amounts sold from the auction," stressing, "There are a lot of Things were brought about by the tax authority, not the reason for it.”
Earlier, the Federal Integrity Commission revealed the amount of damage to the public treasury, which amounts to nearly
4 trillion dinars, as a result of the corruption of the currency sale window.
A statement by the commission, received by the Iraqi News Agency (INA), stated that "the commission revealed clear corruption in the currency sale window, which resulted in damage to the public treasury, amounting to (3,919,218,099,521) dinars," noting that "the loss of files in the Adhamiya tax department revealed this." damage to the treasury.
The Authority’s Prevention Department added in a report, a copy of which was sent to the Prime Minister’s Office, the Parliamentary Finance and Integrity Committees, the Minister of Finance and the Undersecretary of the Interior for Police Affairs, that “in the framework of its follow-up to the results of the analysis of the tax sector questionnaire contained in its comprehensive report issued in June 2021, a team The department conducted field visits to the headquarters and branches of the General Tax Authority, the Customs Authority, the Central Bank of Iraq and the Companies Registrar Department in the Ministry of Commerce.
The report stated that "the private banks were the beneficiary of the transfers in the currency sale window, as the majority of the documents submitted by those banks were forged."
He pointed out that "the Director-General of the General Tax Authority approved referring the issue of reluctant private banks and taxpayers to the Integrity Commission, in order to achieve damage to nearly (4) trillion dinars in the treasury as a result of the loss of files in the Adhamiya Tax Department."
The Director-General of the General Tax Authority called for "directing the branches of the authority to adhere to the
principle of neutrality in calculating taxes, choosing branch managers who have experience in the field of tax work, ending the file of the shortage in the number of employees and assessors, and attracting accounting, financial and economic competencies to advance the level of job performance in general tax authority".
Chairman of the Finance Committee: The proposed food security law will be passed before the ninth of this June
The head of the Parliamentary Finance Committee, Hassan Al-Kaabi, confirmed today, Monday, that the proposed food security law will be passed before the ninth of this June.
The Media Department of the House of Representatives stated in a statement received by Alsumaria News, that "the Finance Committee will start a meeting to put the final touches on the proposed food security law, in the presence of the Legal Committee and the Chairman of the Martyrs Committee
The head of the Finance Committee, Hassan Al-Kaabi, said, according to the statement, that "the proposed food security law will be passed before the ninth of this June
He added, "Tomorrow, the vote on the proposed law will be decided by approval or rejection, and it is up to all the deputies
Agreeing to include the allocations of free lecturers within “Food Security
The Ministry of Finance announces approval to include the allocations of free lecturers within the Food Security Law
Parliament will hold a session to vote on the Food Security Law next Tuesday
A parliamentary source suggested, on Monday, June 6, 2022, that the House of Representatives will hold, tomorrow, Tuesday, a session to vote on the proposed law on emergency support for food security and .development
The source stated to the media, which were followed by the obelisk, that "it is likely that the House of Representatives ".will hold a session tomorrow to vote on the food security law And he indicated that it is "the last session of the first legislative term, as the recess will begin on the ninth of this ".month
Parliamentary Finance warns opponents of the Food Security Law of “disastrous effects”
The Chairman of the Parliamentary Finance Committee, Hassan Al-Kaabi, warned, on Monday, of the effects he described as "catastrophic" in the event of challenging the emergency support law for food security and development, which Parliament is preparing to vote on in its upcoming sessions, noting that the law has become a "political commodity."
Al-Kaabi told Shafaq News Agency, "The repercussions of not approving or challenging the Food Security Law will have catastrophic effects on the Iraqi citizen," adding, "We are talking about a country in which more than 40 million Iraqis have, and in which the poverty line in some provinces reaches more than 50% There are no job opportunities, and there are graduates and holders of higher degrees and the unemployed in the millions.”
He added, "There are many needs in the sectors of electricity, trade, agriculture and the social care network," noting that "there are unemployed citizens with special needs who are covered by social assistance and there are no financial allocations for them, and all of that is available in the law."
Al-Kaabi continued, "The objector to the food security law must take into account the poor, humanitarian services and the segments covered by the law," noting that "the political dispute exists, and some political blocs are investing at the last moment in legislating laws in order to pass their programs and projects."
He explained that "the law has become a political commodity for some, with great regret."
The Iraqi parliament had completed, at the end of last May, the second reading of the proposed food security law, after discussing it during a regular session held under the chairmanship of Muhammad al-Halbousi and the presence of 250 deputies.
Yesterday, Saturday, Deputy Parliament Speaker Shakhwan Abdullah said, "We are not in favor of passing the emergency food security support law in its latest form because it includes unnecessary exchange doors that increase the risks of suspicions of corruption and waste of public money."
Meanwhile, the Parliamentary Finance Committee denied the authenticity of the news that the amount allocated for the proposed emergency support law for food security and development exceeded 25 trillion dinars.
Al-Kazemi discusses security and defense cooperation with the foreign ministers of Egypt and Jordan
Prime Minister Mustafa Al-Kazemi received, on Monday, June 6, 2022, the Minister of Foreign Affairs of the Arab Republic of Egypt, Mr. Sameh Shoukry, and the Minister of Foreign Affairs of the Hashemite .Kingdom of Jordan, Mr. Ayman Al-Safadi, in the presence of the Minister of Foreign Affairs, Mr. Fouad Hussein At the beginning of the meeting, Al-Kazemi expressed Iraq's pride in the relationship with the two countries and the importance of developing it in various fields, and everything that supports the horizon of economic development and prosperity, as well as common food security. His Excellency also stressed the importance of cooperation and .coordination of regional positions on the path of consolidating peace and stability in the region
The Prime Minister indicated that building on the decisions of the summits that brought together the leaders of the three countries, the latest of which was the summit hosted by Baghdad, would achieve a better future for the three .countries and the region
The Jordanian minister conveyed the greetings of His Majesty King Abdullah II bin Al Hussein of Jordan to Mr. AlKazemi, just as the Egyptian minister conveyed the greetings of His Excellency President Abdel Fattah Al-Sisi, President of the Arab Republic of Egypt. The importance of jointly confronting the challenges facing the three countries in the .current circumstances was emphasized
During the meeting, they discussed joint security and defense cooperation against terrorist organizations, stressing the continuation of coordination and exchanging experiences and information in this context. In order to ensure the provision of a safe environment for economic prosperity and the promotion of sustainable development results in a .manner that serves the peoples of the three brotherly countries, and the peoples of the region
The Governor of the Central Bank and the Iranian Ambassador discuss the payment of the financial dues owed by Iraq
A statement to the bank said that "during the meeting, aspects of banking and economic cooperation between the two countries were discussed, the payment of the financial dues owed by Iraq, and overcoming the obstacles facing the work of Iranian companies in the country."
He affirmed his keenness to develop and strengthen banking relations to serve the interests of the two countries and open new horizons of bilateral relations.
Hundreds of retirees demonstrate in front of the Green Zone gate in Baghdad\
Hundreds of retirees demonstrated today, Monday, in front of the Green Zone gate in central Baghdad, to demand the activation of some articles of the Unified Retirement Law and a review of their salaries, which they described as "shy."
The "Dijla" reporter said that hundreds of retirees organized today a large demonstration in front of the Green Zone gate from the direction of Al-Alawi area in Baghdad.
He added that the demonstrators chanted slogans calling for the activation of some articles of the unified retirement law in order to give them justice and to reconsider their "shy" salaries.
Our correspondent indicated that the protesters complained about the small amount of salaries they receive, in conjunction with the high prices in the Iraqi markets, which are no longer enough to support their livelihood, as they put it.
The countdown to Al-Sadr's deadline has begun.. Iraq is looking for an emergency exit
The political process in Iraq has entered a critical stage, with the deadline that the leader of the Sadrist movement Muqtada al-Sadr gave to the forces of the coordination framework with the aim of forming the new government nearing the end, while other parties continue their last attempts before opening up to several scenarios.
Al- Sadr announced in mid-May his transformation into the "national opposition", with the coordination framework forces, with the participation of other parties, forming the government, threatening to take "another position" in the event that a new ministry was not born.
Al-Sadr said at the time, "We have an option left that we must try, which is to turn to the national opposition for a period of no less than 30 days. If the parties and parliamentary blocs, including those we had the honor of allying with, succeed in forming a government to alleviate the suffering of the people, then it will be blessed," warning that " Otherwise
Multiple scenarios
With the end of the deadline approaching, the country is awaiting what will happen in light of confusing conditions, due to the absence of the financial budget and political blockage, as well as fears of slipping into chaos in light of the possession of weapons by all parties.
It seems that the internal movement with the approaching end of Al-Sadr's deadline did not result in a solution that brings the views of the political parties closer, while observers believe that there are regional initiatives that may resolve the political blockage.
Political analyst Atheer al-Shara said, "The scenarios put forward with the imminent end of al-Sadr's deadline are to keep the three presidencies, and this is according to the last initiative that the coordination framework may put forward, and also there is a Kurdish initiative that may be similar to the framework initiative, given that there is no solution at all."
Al-Shara explained to "Sky News Arabia", that "during this period, the US ambassador to Iraq , Alina Romansky, who is an extraordinary ambassador and has broad powers, held meetings with the British ambassador and with the UN envoy, Jenin Plaschaert, who has a mandate to end the political impasse. This puts us in front of a regional movement that may affect the internal political actor.”
And the Iraqi political analyst believes that "the best scenario is perhaps keeping the government of Mustafa Al-Kazemi and the President of the Republic, and entrusting the government with some matters, given that it is a caretaker government, provided that early elections are held after two years, with the amendment of the election law."
And the unprecedented political crisis continues in Iraq for about 7 months, following the early legislative elections last October, which resulted in the victory of the Sadrist movement by a wide margin over its closest rivals from the forces of the coordination framework .
Regarding the scenarios available to al-Sadr in the event that the deadline he was granted expires, political analyst Kittab al-Mizan said that “the strongest option after the deadline is to repeat the elections, and most of the political blocs have started waving this paper in the recent period.”
Al-Mizan indicated in an interview with "Sky News Arabia", that "in the event that no result is reached after Al-Sadr's deadline, the latter will mobilize his fans from the Sadrist movement and take them to the streets to put pressure on the political blocs and the current government, in order to form the new government."
According to Al-Mizan, "in the event that no result is also reached, Al-Sadr will go to the re-election, and everyone will eventually go to the re-election scenario, given the current circumstances and conflicts and the lack of understanding between the political blocs."
New initiative
As part of the efforts at a critical time, the Kurdistan Democratic Party led by Massoud Barzani, "within the tripartite alliance", announced its intention to launch a new initiative to solve the government formation crisis.
Party member Mahdi Abdul Karim said in a press statement, "The option to dissolve parliament is very difficult according to the current circumstances," noting that "the coming days will witness the presentation of the initiative of the leader of the Kurdistan Democratic Party, Massoud Barzani , and through it he will solve many of the problems that caused the current crisis." The initiative has become mature, but it has not been formally presented until now."
Since the parliamentary elections were held on the tenth of last October, the Iraqi political forces have been unable to form the new government, due to the desire of the "Save the Homeland" coalition led by al-Sadr to form a "national majority" government, while the coordinating framework forces seek a "consensual" government.
The delegation of the Kurdistan Regional Government begins its round of talks in Baghdad
A negotiating delegation from the Kurdistan Regional Government arrived today, Monday, in Baghdad to hold a new round of talks with the Iraqi government.
Upon arrival, the delegation held a meeting at the Iraqi Financial Supervision Bureau, to hold other meetings with government officials in Baghdad.
The delegation includes the Minister of the Region for Negotiations with the Federal Government, Khaled Shwani, Chief of Cabinet of Ministers of the Region, Omid Sabah, Head of the Coordination and Follow-up Department, Abdul Hakim Khusraw, and Head of the Financial Supervision Bureau in the Region, Khal Hadi Jawishli.
Baghdad used to pay 453 billion Iraqi dinars per month (about $380 million) as salaries to the employees of the Kurdistan Region, but it stopped them after the region conducted the independence referendum on its part, and because of what Baghdad said that the region was not committed to handing over its oil according to the terms of the federal budget.
After several rounds of political negotiations, the region was obligated, according to an agreement with the government in Baghdad, to hand over 250 thousand crude barrels per day of crude oil produced from its fields to the state-owned company SOMO, and hand over the revenues to the federal public treasury.
But the oil and financial dispute returned to the scene of the outstanding issues between Baghdad and Erbil, after the Federal Supreme Court declared on February 15 that the oil and gas law of the Kurdistan Regional Government was unconstitutional and abolished, and obligating the regional government to hand over all oil production from oil fields in the region and other regions that the Ministry of The natural resources in the Kurdistan government by extracting oil from them and handing them over to the federal government represented by the Federal Ministry of Oil.
The Kurdistan Region described the decision as "unconstitutional" and was based on a law dating back to the time of the previous regime, and the regional government stressed that "such an unconstitutional decision cannot be accepted."
And the Kurdistan Region began to sell its oil in isolation from the federal government, after a stifling financial crisis as a result of the collapse of oil prices during the ISIS invasion of areas in Iraq, in addition to the disputes with Baghdad that prompted the latter to stop paying the salaries of the region’s employees.
Baghdad says its national oil company, SOMO, is the only one authorized to sell Iraqi crude oil, but each side claims the constitution is on its side. Since the Iraqi oil and gas law remained imprisoned in the drafting stage due to differences, there was room for maneuver.
The foreign ministers of Egypt and Jordan arrive in Baghdad to meet senior Iraqi officials
Bank credit..the main business of the banking sector
Bank credit is the main activity that banks must carry out within their core work in the process of lending money or granting facilities (financing assets, goods, etc.) between two parties, one of whom is the bank and the other party is called the borrower customer. Investment) or (Murabaha or Istisna’a return or commission in Islamic banks) in return for paying this amount that was granted to the customer over multiple agreed time periods according to the terms of the contract.
Therefore, government and private banks vary in their activities between commercial (traditional), Islamic, agricultural, industrial and real estate. However, the credit in these banks, based on the results of banking activities for the year 2021, shows that most credit operations are limited to
the Central Bank’s financing and lending initiatives that were launched in 2021 and 2022 to stimulate the economy and revitalize the economic cycle With regard to private banks, as for government banks, the credit activity of personal loans and advances to employees, military personnel and retirees is concentrated. Most of them go to consumer aspects, and their role is limited to move towards development.
At the level of private banks, "there are about 50 banks in Iraq, since the launch of financing small, medium, large and housing projects and their activation in 2021 and 2022, granting loans that contributed to financing up to more than 10 thousand projects and operating up to 40 thousand people with a financial value that exceeded 1418 billion dinars." (Trillion Four hundred and eighteen billion dinars) with an implementation rate of 71% for the allocation to private banks, while the implementation rates for the allocated to specialized governmental banks amounted to 13% for the Agricultural Bank, 18% for the Industrial Bank, 76% for the Real Estate Bank, and 60% for the Housing Fund , where the total allocation for the initiative amounted to 17 trillion dinars.
It must be pointed out here to the banks that are faltering in credit activity and that suffer from a lack of liquidity and have not adhered to the instructions of the Central Bank to implement the initiative and are reluctant in their daily activities in serving customers. It is diagnosed by the Central Bank, and some of them are under guardianship, while others are trying to rehabilitate them and return them to the market after restructuring them again.”
The important thing in bank credit operations is that some banks hesitate to grant credit because they are exposed to the risks of non-payment and the accumulation of bad debts, which amounted according to official figures. For 2021, it will reach 5 trillion dinars
The debts of private banks account for 40% of them. The reluctance of some borrowers to pay leads to considering them as debts that cannot be obtained based on the guiding instructions for classifying bad debts according to Basel 1 and 2. In addition to the fact that private sector debts are debts that are not considered excellent debts such as government debts in accordance with the law in force, which prolongs the resolution of cases in the courts for years.
Nevertheless, the Central Bank constantly stresses the need for banks to practice real work, which is bank credit of all kinds, and focus on credit, which aims to operate development projects and diversify the economy, thus contributing to the transition of the banking sector from banking to development and achieving the central goal (banks are the lever of development)
Below here is the WOTS for the day "Word on the Street" report:
The dollar exchange rates rose, today, Monday, on the Iraqi Stock Exchange.
Selling price: 148,350 dinars per 100 dollars,
buying price: 148,250 dinars per 100 dollars
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1434.8000 |  1490.8000 | 1457.9000 | 1457.8000 | 1457.9000 | 0.1000 | 06:09 |
| USD/VND | 23180.0000 | 23190.0000 | 23196.6300 | 23194.5500 | 23196.6300 | -2.5200 | 22:45 |
| USD/CNY | 6.6413 | 6.6433 | 6.6594 | 6.6414 | 6.6594 | -0.0180 | 05:08 |
| USD/KWD | 0.3056 | 0.3066 | 0.3059 | 0.3057 | 0.3059 | -0.0002 | 04:46 |
| GBP/USD |  1.2552 | 1.2552 | 1.2577 | 1.2477 | 1.2501 | 0.0068 | 05:08 |
| USD/IRR | 42100.0000 | 42500.0000 | 42332.1000 | 42315.5000 | 42332.1000 | 13.8000 | 10:45 |
| USD/IDR | 14416.0000 | 14424.0000 | 14472.0000 | 14408.0000 | 14429.0000 | -12.0000 | 05:08 |
Saudis Raise AGAIN!
Inflation divide: The wealthy splurge, the poorest pull back...
Individual Income Tax Payments on Pace to Reach Record Level...
Parliament will hold a session to vote on the Food Security Law next Tuesday
A parliamentary source suggested, on Monday, June 6, 2022, that the House of Representatives will hold, tomorrow, Tuesday, a session to vote on the proposed law on emergency support for food security and .development
The source stated to the media, which were followed by the obelisk, that "it is likely that the House of Representatives ".will hold a session tomorrow to vote on the food security law And he indicated that it is "the last session of the first legislative term, as the recess will begin on the ninth of this ".month
Parliamentary Finance warns opponents of the Food Security Law of “disastrous effects”
The Chairman of the Parliamentary Finance Committee, Hassan Al-Kaabi, warned, on Monday, of the effects he described as "catastrophic" in the event of challenging the emergency support law for food security and development, which Parliament is preparing to vote on in its upcoming sessions, noting that the law has become a "political commodity."
Al-Kaabi told Shafaq News Agency, "The repercussions of not approving or challenging the Food Security Law will have catastrophic effects on the Iraqi citizen," adding, "We are talking about a country in which more than 40 million Iraqis have, and in which the poverty line in some provinces reaches more than 50% There are no job opportunities, and there are graduates and holders of higher degrees and the unemployed in the millions.”
He added, "There are many needs in the sectors of electricity, trade, agriculture and the social care network," noting that "there are unemployed citizens with special needs who are covered by social assistance and there are no financial allocations for them, and all of that is available in the law."
Al-Kaabi continued, "The objector to the food security law must take into account the poor, humanitarian services and the segments covered by the law," noting that "the political dispute exists, and some political blocs are investing at the last moment in legislating laws in order to pass their programs and projects."
He explained that "the law has become a political commodity for some, with great regret."
The Iraqi parliament had completed, at the end of last May, the second reading of the proposed food security law, after discussing it during a regular session held under the chairmanship of Muhammad al-Halbousi and the presence of 250 deputies.
Yesterday, Saturday, Deputy Parliament Speaker Shakhwan Abdullah said, "We are not in favor of passing the emergency food security support law in its latest form because it includes unnecessary exchange doors that increase the risks of suspicions of corruption and waste of public money."
Meanwhile, the Parliamentary Finance Committee denied the authenticity of the news that the amount allocated for the proposed emergency support law for food security and development exceeded 25 trillion dinars.
The delegation of the Kurdistan Regional Government begins its round of talks in Baghdad
A negotiating delegation from the Kurdistan Regional Government arrived today, Monday, in Baghdad to hold a new round of talks with the Iraqi government.
Upon arrival, the delegation held a meeting at the Iraqi Financial Supervision Bureau, to hold other meetings with government officials in Baghdad.
The delegation includes the Minister of the Region for Negotiations with the Federal Government, Khaled Shwani, Chief of Cabinet of Ministers of the Region, Omid Sabah, Head of the Coordination and Follow-up Department, Abdul Hakim Khusraw, and Head of the Financial Supervision Bureau in the Region, Khal Hadi Jawishli.
Baghdad used to pay 453 billion Iraqi dinars per month (about $380 million) as salaries to the employees of the Kurdistan Region, but it stopped them after the region conducted the independence referendum on its part, and because of what Baghdad said that the region was not committed to handing over its oil according to the terms of the federal budget.
After several rounds of political negotiations, the region was obligated, according to an agreement with the government in Baghdad, to hand over 250 thousand crude barrels per day of crude oil produced from its fields to the state-owned company SOMO, and hand over the revenues to the federal public treasury.
But the oil and financial dispute returned to the scene of the outstanding issues between Baghdad and Erbil, after the Federal Supreme Court declared on February 15 that the oil and gas law of the Kurdistan Regional Government was unconstitutional and abolished, and obligating the regional government to hand over all oil production from oil fields in the region and other regions that the Ministry of The natural resources in the Kurdistan government by extracting oil from them and handing them over to the federal government represented by the Federal Ministry of Oil.
The Kurdistan Region described the decision as "unconstitutional" and was based on a law dating back to the time of the previous regime, and the regional government stressed that "such an unconstitutional decision cannot be accepted."
And the Kurdistan Region began to sell its oil in isolation from the federal government, after a stifling financial crisis as a result of the collapse of oil prices during the ISIS invasion of areas in Iraq, in addition to the disputes with Baghdad that prompted the latter to stop paying the salaries of the region’s employees.
Baghdad says its national oil company, SOMO, is the only one authorized to sell Iraqi crude oil, but each side claims the constitution is on its side. Since the Iraqi oil and gas law remained imprisoned in the drafting stage due to differences, there was room for maneuver.
The countdown to Al-Sadr's deadline has begun.. Iraq is looking for an emergency exit
The political process in Iraq has entered a critical stage, with the deadline that the leader of the Sadrist movement Muqtada al-Sadr gave to the forces of the coordination framework with the aim of forming the new government nearing the end, while other parties continue their last attempts before opening up to several scenarios.
Al- Sadr announced in mid-May his transformation into the "national opposition", with the coordination framework forces, with the participation of other parties, forming the government, threatening to take "another position" in the event that a new ministry was not born.
Al-Sadr said at the time, "We have an option left that we must try, which is to turn to the national opposition for a period of no less than 30 days. If the parties and parliamentary blocs, including those we had the honor of allying with, succeed in forming a government to alleviate the suffering of the people, then it will be blessed," warning that " Otherwise
Multiple scenarios
With the end of the deadline approaching, the country is awaiting what will happen in light of confusing conditions, due to the absence of the financial budget and political blockage, as well as fears of slipping into chaos in light of the possession of weapons by all parties.
It seems that the internal movement with the approaching end of Al-Sadr's deadline did not result in a solution that brings the views of the political parties closer, while observers believe that there are regional initiatives that may resolve the political blockage.
Political analyst Atheer al-Shara said, "The scenarios put forward with the imminent end of al-Sadr's deadline are to keep the three presidencies, and this is according to the last initiative that the coordination framework may put forward, and also there is a Kurdish initiative that may be similar to the framework initiative, given that there is no solution at all."
Al-Shara explained to "Sky News Arabia", that "during this period, the US ambassador to Iraq , Alina Romansky, who is an extraordinary ambassador and has broad powers, held meetings with the British ambassador and with the UN envoy, Jenin Plaschaert, who has a mandate to end the political impasse. This puts us in front of a regional movement that may affect the internal political actor.”
And the Iraqi political analyst believes that "the best scenario is perhaps keeping the government of Mustafa Al-Kazemi and the President of the Republic, and entrusting the government with some matters, given that it is a caretaker government, provided that early elections are held after two years, with the amendment of the election law."
And the unprecedented political crisis continues in Iraq for about 7 months, following the early legislative elections last October, which resulted in the victory of the Sadrist movement by a wide margin over its closest rivals from the forces of the coordination framework .
Regarding the scenarios available to al-Sadr in the event that the deadline he was granted expires, political analyst Kittab al-Mizan said that “the strongest option after the deadline is to repeat the elections, and most of the political blocs have started waving this paper in the recent period.”
Al-Mizan indicated in an interview with "Sky News Arabia", that "in the event that no result is reached after Al-Sadr's deadline, the latter will mobilize his fans from the Sadrist movement and take them to the streets to put pressure on the political blocs and the current government, in order to form the new government."
According to Al-Mizan, "in the event that no result is also reached, Al-Sadr will go to the re-election, and everyone will eventually go to the re-election scenario, given the current circumstances and conflicts and the lack of understanding between the political blocs."
New initiative
As part of the efforts at a critical time, the Kurdistan Democratic Party led by Massoud Barzani, "within the tripartite alliance", announced its intention to launch a new initiative to solve the government formation crisis.
Party member Mahdi Abdul Karim said in a press statement, "The option to dissolve parliament is very difficult according to the current circumstances," noting that "the coming days will witness the presentation of the initiative of the leader of the Kurdistan Democratic Party, Massoud Barzani , and through it he will solve many of the problems that caused the current crisis." The initiative has become mature, but it has not been formally presented until now."
Since the parliamentary elections were held on the tenth of last October, the Iraqi political forces have been unable to form the new government, due to the desire of the "Save the Homeland" coalition led by al-Sadr to form a "national majority" government, while the coordinating framework forces seek a "consensual" government.
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Magnesium benefits your diet
Nutrition experts point to the importance of magnesium in improving the diet of its great importance for body functions, and stress the need to focus in our food on eight sources of this important mineral.
Magnesium is used to convert the energy in food into a usable form, so the body can use it as fuel, and store it inside the bones.
Experts recommend including 400-420 mg per day for men and 310-320 mg per day for women, with pregnant women needing a little more.
Most of us get enough magnesium from our diets by eating magnesium-rich foods, but some health conditions can cause malabsorption of nutrients, which means that magnesium supplements may be necessary for some people.
Among the foods that contain good proportions of magnesium, according to experts
* Nuts
Nuts are a great source of magnesium, as most nuts contain a high percentage of minerals, this makes them a great snack to support the body, and can be eaten in all cases raw or as nut butter. Cashews contain 292 mg of magnesium per 100 grams, and almond butter contains 270 mg of magnesium per 100 grams, and pistachios have 121 mg of magnesium per 100 grams.
* Seeds Seeds
are great snacks, and according to nutrition experts, they contain a high percentage of vegetable proteins, vitamins and minerals to support healthy body functions. Sesame seeds contain 351 mg of magnesium per 100 grams, and chia seeds contain 335 mg of magnesium per 100 grams, while sunflower seeds contain 351 mg of magnesium per 100 grams. The sun contains 129 mg per 100 grams.
* green leaves
Leafy greens are a great component of many meals, and not all leafy greens are created equal when it comes to magnesium content. Dark leafy green vegetables contain a higher proportion of magnesium, then light green vegetables such as lettuce, spinach contains 79 mg per 100 grams, and beet leaves contain 70 mg per 100 grams.
Legumes Legumes
are a great source of plant protein as well as magnesium and other vitamins and minerals, and soy-based products such as tofu, black beans contain 180 mg of magnesium per 100 grams, and red kidney beans contain 164 mg per 100 grams.
Grains
The USDA Dietary Guidelines for 2020-2025 recommend that meals be based on starchy carbohydrates, such as whole-grain pasta, rice or bread.
Whole grains are a great source of fiber, because they contain the whole unprocessed kernel rather than a portion of the grain that is processed, as is the case with refined white grains. Whole grain bread contains 76.6 mg magnesium per 100 grams, and rye bread contains 40 mg. of magnesium per 100 grams.
Oily
fish Experts consider oily fish a great source of polyunsaturated fatty acids as well as being rich in vitamins and minerals, such as magnesium. These fatty acids are important for many functions in the brain. Among the fatty fish known to contain magnesium, salmon, herring, sardines.
Dark
Chocolate Dark chocolate is a great source of magnesium. Each 45-50% cocoa solids contains 146 mg of magnesium per 100 grams, and each
60-69% solid cocoa contains 176 mg magnesium per 100 grams, and each 70-85% solid cocoa contains 228 mg magnesium per 100 grams
* Avocado One avocado
contains 29 mg of magnesium per 100 grams, with an average weight of about 170 grams, Avocados are full of the good monounsaturated fats and polyunsaturated fats, which are also great for brain function.
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