Sunday, June 19, 2022

WOTS THU JUN 16 22 The World Bank warns of the delay in approving the budget on the growth of the Iraqi economy

 WOTS THU JUN 16 22 The World Bank warns of the delay in approving the budget on the growth of the Iraqi economy

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JUN 16 22

In the presence of Al-Kazemi.. the coordinating framework holds a meeting

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A political source said, on Thursday, that the coordination framework is currently holding a meeting at the home of the head of the Popular Mobilization Authority, Faleh al-Fayyad.

The source told (Mawazine News) that the meeting, currently being held at Al-Fayyad's house, is attended by Prime Minister Mustafa Al-Kazemi.

He added, that the meeting will discuss developments in the political process and the formation of the government after the resignation of members of the Sadrist bloc from Parliament.


The World Bank: The growth of Iraq's economy is linked to the formation of the government and the approval of the budget

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A  report issued by the World Bank, on Wednesday, warned of the impact of the delay in forming the government and approving the budget on the growth of Iraq's economy.

The report said, "Iraq is gradually emerging from the deep recession that it experienced in 2020 due to the Corona Virus (Covid-19) pandemic and the accompanying collapse in oil prices, as after a contraction of more than 11% in 2020, the Iraqi economy achieved a growth rate of 2.8% in 2021 with the easing of restrictions imposed by the Corona pandemic on movement, and this growth was supported by a strong expansion in non-oil production, especially in the services sector.

He added, "With the gradual cancellation of the "OPEC +" production cuts, oil GDP also began to grow in the second half of 2021, and the rise in oil revenues prompted a surplus in public financial balances and total external balances in Iraq in 2021. "

The report quoted Saroj Kumar Jha, Regional Director of the Mashreq Department at the World Bank, as saying: “Iraq has a unique opportunity to undertake urgent and wide-ranging structural reforms through 3 means: taking advantage of the fiscal space resulting from its recent sudden oil revenues, and secondly, redirecting government spending towards programs that Improving growth is critical to economic diversification and job creation, and thirdly, addressing the country’s human capital crisis.”
 

The World Bank report confirms that “the current food security challenges in Iraq have intensified in the midst of the current rise in global commodity prices, while the level of local food production is below the level of demand caused by rapid population growth, and severe droughts and other climate change factors have led To exacerbate this situation, and while subsidies and direct transfers can help mitigate these negative impacts in the short term, achieving food security requires coordinated efforts to improve local food production and more efficient management of water resources.

The report pointed out that "the financial, social and economic challenges in Iraq underscore the need to accelerate the pace of much-needed macro-structural and financial reforms to remove obstacles to private sector development, increase investments in water efficiency and agri-food systems, and shift towards more sustainable sources of energy, in addition to Decarbonization of the transportation sector.


The report says, "A further delay in forming the government and approving the 2022 budget may lead to limiting the use of the country's sudden oil revenues, as the actual ceilings of the 2021 budget have been reached, and suspending the implementation of new investment projects, which may reduce economic growth." The white paper "developed by the Iraqi government remains a model and a bold blueprint for a comprehensive economic reform program towards economic diversification."


The report singles out a special chapter on the “Corona pandemic and the human capital crisis,” and says, “A child born in Iraq prior to the Corona pandemic may have a productivity of only 41% when he reaches the age of eighteen, than it would have been if he enjoyed a full education and full health, as The pandemic has affected the human capital in Iraq by negatively affecting the health of workers today and their level of economic well-being, as well as by reducing the potential productivity of the future generation in Iraq. Addressing such challenges requires taking an educational reform path to raise the level of learning and skills development among Iraqi children. 


The World Bank warns of the delay in approving the budget on the growth of the Iraqi economy

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A report issued by the World Bank, Thursday, June 16, 2022, warned of the impact of the delay in .forming the government and approving the budget on the growth of Iraq's economy The report said that Iraq is gradually emerging from the deep recession that it experienced in 2020 due to the Corona Virus (Covid-19) pandemic and the accompanying collapse in oil prices, as after a contraction of more than 11% in 2020, the Iraqi economy achieved a growth of 2.8% In 2021, with the easing of restrictions imposed by the Corona pandemic on movement, this growth was supported by a strong expansion in non-oil production, especially in the .services sector He added: With the gradual cancellation of the OPEC + production cuts, oil GDP also began to grow in the second half of 2021, and the rise in oil revenues prompted a surplus in fiscal balances and overall external balances in Iraq in .2021

The report quoted Saroj Kumar Jha, Regional Director of the Mashreq Department at the World Bank, as saying: Iraq has a unique opportunity to undertake urgent and wide-ranging structural reforms through 3 means: taking advantage of the fiscal space resulting from its recent sudden oil revenues, and secondly, redirecting government spending towards programs that work Improving growth is critical to economic diversification and job creation, and thirdly, .addressing the country's human capital crisis

The World Bank report confirms that the current food security challenges in Iraq have intensified in the midst of the current rise in global commodity prices, while the level of local food production is less than the level of demand caused by rapid population growth, and severe droughts and other climate change factors have led to This situation is exacerbated, and while direct subsidies and transfers can help mitigate these negative impacts in the short term, achieving food security requires coordinated efforts to improve local food production and more efficient management .of water resources


The report indicated that the financial, social and economic challenges in Iraq underscore the need to accelerate the much-needed macro-structural and financial reforms to remove obstacles to private sector development, increase investments in water efficiency and agri-food systems, and shift towards more sustainable sources of energy, in .addition to removing carbon from the transport sector The report says that further delays in forming the government and approving the 2022 budget may lead to limiting the use of the country's sudden oil revenues, as the actual ceilings of the 2021 budget have been reached, and suspending the implementation of new investment projects, which may reduce economic growth. set by the Iraqi government, which remains until now a model and a bold blueprint for a comprehensive economic reform program .towards economic diversification

The report singles out a special chapter on the Corona pandemic and the human capital crisis, and says, that a child born in Iraq before the Corona pandemic may reach 41% of his productivity when he reaches the age of eighteen than it would have been if he enjoyed a full education and full health, as the pandemic affected the The human capital in Iraq by negatively affecting the health and economic well-being of today’s workers, as well as by reducing the potential productivity of Iraq’s future generation. Addressing such challenges requires an educational reform path to .raise the level of learning and skills development for Iraqi children


Finance: We are continuing to implement what was stipulated in the government's white paper

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Minister of Finance, Ali Allawi, confirmed today, Thursday, that the state property sector faces huge challenges, while indicating the continuation of work on the completion of automation projects.

A statement of the Ministry of Finance, which Mawazine News received a copy of, stated that the Minister of Finance, Ali Abdul-Amir Allawi, conducted today 16/6/2022 an inspection visit to the State Real Estate Department, touring between the departments and people of the department, accompanied by its general manager Rand Raad Raji and the advanced cadre.

Allawi said, "This visit aims to raise the level of institutional performance and reduce the effort and time to reach the provision of the best services, in addition to expediting the resolution of property issues belonging to the state, and raising the pace of joint coordination with institutions and concerned and supporting institutions. 

Allawi indicated that the state property sector faces huge challenges, Efforts should be redoubled and pushed towards upgrading the work of the department, in a way that contributes to simplifying the procedures in accordance with the laws in force. 

Allawi stressed that the ministry is continuing to implement what was stipulated in the white paper adopted by the government in light of the rapid changes witnessed by Iraqi society and to advance the capabilities of the department by providing investment opportunities and finding real solutions to obstacles and difficulties with the aim of advancing the construction and reconstruction process in it.

He stressed the continuation of the ministry's efforts to complete work automation projects and make more bids to complete transactions, reduce the momentum resulting from citizens' review, and reduce red tape and redundancies. 



He Toured 6 Provinces.. The Japanese Foreign Ministry Assistant Promises To Facilitate The Travel Of His Country's Citizens To Iraq

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Head of the Asia and Australia Department at the Ministry of Foreign Affairs, Haider Al-Shammari, discussed on Thursday with Nagaoka Kansuke, the Japanese assistant foreign minister, the development and consolidation of political and economic relations between the two friendly countries.

Al-Shammari said, in a statement by the Iraqi Foreign Ministry, received by / the information, that “Iraq is looking forward to building economic partnerships with a number of countries in the world, especially Japan, in order to rebuild and rehabilitate the infrastructure,” referring to “the historical relations between Iraq and Japan and the importance of strengthening them to serve the interests of both countries.” The two friends.”

He added, "The security and political developments in the country call us seriously to urge Japan to cancel the recommendation for Japanese citizens not to travel to Iraq, in line with the security and political developments in the country, and thus businessmen, investors, academics, experts and tourists can travel to Iraq, according to what the ambassador touches on his tours in The various regions and governorates of Iraq.

For his part, Nagaoka praised "the bilateral political and economic relations between the two friendly countries," calling for their "development in the interest of the two peoples."

He promised to "study his country the issue of facilitating travel to Iraq, especially after his tour in the areas of Baghdad and his observation of the improvement in security there, in addition to the tours of the Japanese ambassador and his visit to a number of Iraqi provinces, including Najaf, the holy province of Karbala, Anbar and Mosul."

The two sides agreed to "exchange official visits between the two friendly countries and work to overcome the obstacles faced by some Japanese companies operating in Iraq."


UBS Raises Its Forecast For The Price Of One Barrel Of Brent Crude Oil

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With the two benchmarks futures falling this morning, Brent and US crude, strategists at UBS expect higher crude oil prices to remain strongly supported in June.

UBS experts emphasized that oil prices are expected to remain elevated for longer than likely, at the same time that demand for crude oil within China recovers, with the gradual easing of coronavirus restrictions in China's largest city, Shanghai.

Therefore, the bank's financial experts believe that for these reasons, in addition to the recovery of global travel and aviation flights and the increase in demand for jet fuel and gasoline, there will be an additional support for crude oil.

Based on this, UBS strategists expect the price of one barrel of Brent crude to rise to $130 by the end of September 2022, and will settle at $125 for the next three quarters, compared to UBS’s previous forecast of $115 a barrel of oil.


Al-Maliki: Encroachment on Iraqi sovereignty is unacceptable, and the government must stop it

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The leader of the State of Law coalition, Nuri al-Maliki, confirmed today, Thursday, that encroaching on Iraqi sovereignty is unacceptable, calling on the government to intervene to stop it.

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Barzani and the US Ambassador discuss the latest developments in the political process in Iraq

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 The Kurdish leader, Massoud Barzani, met today, Thursday, at his residence in the Salah al-Din resort, with the US ambassador to Iraq, Alina Romanowski.

A statement issued by Barzani's headquarters stated that the political situation and the latest developments in the political process in Iraq were another focus of the meeting, where Massoud Barzani expressed his views on the political process and the solution to the political crisis in Iraq.

In turn, the US ambassador pointed to the stability enjoyed by the Kurdistan Region, stressing that her country will continue its support and cooperation with the Kurdistan Regional Government and the development of relations in various fields.


Iran announces receipt of 1.6 billion dollars from Iraq dues for exported gas

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On Thursday, Iranian Oil Minister Javad Oji announced that Iran had received $1.6 billion in arrears for gas exports to Iraq.

"In light of active energy diplomacy, and after several months of negotiations, we received, hours ago, $1.6 billion in arrears due from past years for gas exports to Iraq," Oji said in a tweet on Twitter.

He added, "Since the beginning of this year (as of March 21 last according to the Iranian calendar) compared to the same period last year, the country's gas exports have increased by 25%, and the receipt of hard currency earnings from it has increased by 90%."


These are the conditions for al-Sadr's allies to leave him and join the coordination

framework government

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The eyes of the Iraqis turn to the city of Erbil in the Kurdistan region, where the expected meeting of the "Sovereignty" alliance, representing the Sunni Arab political forces, will be held with the Kurdistan Democratic Party, the ruler in the region, led by Massoud Barzani. It is scheduled that this meeting will come out with a joint decision regarding the developments of the political crisis. Either by boycotting the steps of forming the “coordinating framework” coalition for the new government and declaring the two parties’ adherence to their partnership with the Sadrists, or by declaring political conditions and demands and others that enter the government’s program and it is expected that they will have a high or incapacitating ceiling. Others put forward other expectations, such as rejecting the fate of the first winner of the elections (the Sadrist movement) and demanding his return to Parliament.

Leaks confirmed that "the meeting will include Masoud Barzani, the head of the "sovereignty" coalition Khamis al-Khanjar, and the current parliament speaker, Muhammad al-Halbousi, who returned to Baghdad after a two-day visit to Jordan.

The "sovereignty" alliance and the Kurdistan Democratic Party did not announce their positions regarding The developments of the political scene after the withdrawal of their ally in the “Save the Homeland” alliance, the leader of the Sadrist movement, Muqtada al-Sadr, from the political process, with the exception of what was issued by the two alliance leaders, Khamis al-Khanjar and Masoud Barzani, about the fact that they understood al-Sadr’s decision and respected his options


The "Sovereignty" alliance and the Kurdistan Democratic Party were left with only two paths: either go towards participating in a government formed by the "coordinating framework" or take the role of the parliamentary opposition as a political position in solidarity with al-Sadr.

The Kurdish position in Erbil seems more encouraging to talk about the possibility of going with the "Coordination Framework" coalition with a new government, but without a declared agreement, as the government and parties of the region hold the coalition responsible for many of the files that the allies will have to resolve before the Kurds are expected to go with them with one government.

The most prominent of these files are the repeated bombing of Erbil, and the support of some parties of the coalition for the Iranian missile attack in mid-March on the city under the allegations of the presence of Mossad headquarters there, as well as the refusal to withdraw militants from the region’s borders, the file of oil and gas exports, Kurdistan’s share of the budget, and other issues, all of which are considered controversial. With the "Coordinating Framework" alliance.


Muqtada al-Sadr "Trends" on Twitter with more than 3,000 tweets

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The leader of the Sadrist movement, Muqtada al-Sadr, "Trends" on Twitter with more than 3,000 tweets

And the Digital Media Center stated in a brief statement, received by Earth News, that “the hashtag #Muqtada_Al-Sadr_No.1_in_the_world tops Iraq’s trend on the Twitter platform, with more than 3,000 tweets.”

Today, Sunday, the leader of the Sadrist movement, Muqtada al-Sadr, directed the Sadrist bloc's deputies in the House of Representatives to hand over their resignations to Parliament Speaker Muhammad al-Halbousi, while he thanked his allies in the "Save a Homeland" coalition and said that they "are in a solution from me."


Hundreds of protesters against poor services gather in Al-Haboubi )Square in central Nasiriyah (video

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Hundreds of protesters gathered today, Thursday, against poor services, in .Al-Haboubi Square in the center of Nasiriyah

In the early hours of Thursday morning, Dhi Qar governorate witnessed a demonstration by dozens of Nasiriyah residents to demand appointment and improvement of their service .reality

And (Baghdad Today) published a video clip documenting the departure of dozens of graduates and earners from the people of Nasiriyah in a large demonstration, as they closed .the departments of Nasiriyah by welding their doors

While some of the graduates cut off the Olive Bridge in the center of Nasiriyah, the center of .Dhi Qar Governorate, to demand job opportunities for them

Thaer Al-Aboudi (one of the demonstration coordinators), told (Baghdad Today), "The demonstration continues until job opportunities are provided for graduates in the public or ".private sector, and that the protest methods will develop if our demands are not met

He added, "There are 1,000 grant contracts for the governorate, according to the Food Security Law approved by the House of Representatives. They must be granted to graduates ".first

The governor of Dhi Qar, Muhammad Hadi, had issued an order to all security forces in the .province to provide security and protection for these demonstrations

The governor of Dhi Qar directed the security forces not to interact with the .demonstrators, while ordering the closure of government departments in the city

 

 A meeting between Nuri al-Maliki and independent representatives headed by Hussein Arab - Urgent

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Today, Thursday, a political source revealed a meeting between the State .of Law coalition and independent representatives

The source said, to (Baghdad Today), that "a meeting was held at the home of the leader of the State of Law coalition, Nuri al-Maliki, with independent representatives ".headed by Representative Hussein Arab

He added, "The meeting discussed developments in the political scene and appropriate solutions after the resignation of the Sadrist bloc's deputies from the House of Representatives," adding that "the file of forming the new government was discussed in light of the rapprochement that exists between the rule of law and ".independent representatives

Yesterday, Wednesday, the leader of the Sadrist movement, Muqtada al-Sadr, had set one condition for his return to the political process, noting that "he will not ".participate in any elections in which the "corrupt" participate

I decided to withdraw from the political process so as not to participate with the" corrupt in any way," Al-Sadr said in a meeting with deputies of the Sadrist bloc, which was held in Al-Hanana in the Najaf governorate. "

If the corrupt participate in ".the upcoming elections, I will not participate in it Al-Sadr continued, addressing the resigned Sadrist bloc deputies, "If the corrupt are removed and I participate in the upcoming elections, you will represent the Sadrist ".bloc again



Partnership of private banks with foreigners removes suspicions of money laundering

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Partnership of private banks with foreigners removes suspicions of money laundering

 

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Member of the Board of Directors of the Federation of Businessmen, Abdul Hassan Al-Ziyadi, who is in charge of the import file, called for the entry of Iraqi private banks in partnership with the branches of Turkish, Iranian and Chinese foreign banks, to reduce the waste of money in imports, and stave off suspicions of money laundering in the currency sale window, and contribute to adjusting the balance Iraq's trade balance. The trade balance of any country is the result of the difference between the value of exports and imports during a certain period of time. If the value of imports exceeds exports, this means that there is a deficit, but if there is an increase in exports and a decrease in imports, then the country has a trade surplus.
 
Al-Ziyadi said in a statement to “Al-Sabah”: “The entry of Iraqi private banks into such a partnership will greatly reduce the amount of wasted amounts in the currency sale window established by the Central Bank, and encourage the activation of documentary credit and the ease of movement of funds and their transfer from the buyer merchant to  the seller".

He added, "This process will support the volume of trade exchange between Iraq and those countries, because the goods imported from those countries are many and varied and have an active presence in the Iraqi market, and the provision of funds will enhance the establishment of a local industry and regulate the process of import.”

Al-Ziyadi considered that “the most important thing that this process will provide is the accurate data of the volume of imports and their real values, which removes suspicions of money laundering in this aspect, and gives credibility to the commercial dealings between Iraq and those countries, in addition to the fact that private banks have flexibility in transferring money away from the routine found in government banks, as well as granting the Central Bank freedom from the restrictions of the currency auction, and it also enhances the role of its control over the movement of funds, which contributes to the provision of immigrant funds, and makes the capital circulate locally".
 
Dr. Mudar Abdullah from the National University of (Sawa) says, “The latest statistics and economic data indicate that the volume of trade exchange between Iraq and Iran has reached nearly nine billion and twenty-seven million dollars, while Iran’s exports to Iraq amounted to eight billion and twenty-two million dollars, while it imported from it at a value of eight billion and twenty-two million dollars. Only one billion and five million dollars.” 

He added, "China leads the countries exporting to Iraq, especially after Beijing concluded construction deals last year with Baghdad worth ten and a half billion dollars, while the values of trade exchange ranged between increase and decrease with a number of Arab and foreign countries such as Saudi Arabia, Jordan, Egypt, Syria, Lebanon, Turkey and others, with oil remaining As a key factor for exports 
Iraq.” Specialists stressed that the recent government decisions about extending zero customs duties on goods and commodities, canceling all decisions to protect the national product and banning imports, may lead in another way to an increase in imports at the expense of exports, especially since the past months did not reveal any significant decline in the prices of imported materials, which The industrialists and agriculturalists say that it greatly harmed their sectors and increased its stagnation.


Dana Gas: A significant improvement in the collection of dues from the Kurdistan Region

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 The Emirati "Dana Gas" company announced, on Thursday, a significant improvement in the collection of financial dues from the Kurdistan Region.

The company said in a statement published on the Abu Dhabi Securities Exchange website, seen by Shafak News Agency, that "the company's board reviewed a report on the progress of the company's operations and projects in Egypt, the United Arab Emirates and the Kurdistan Region of Iraq," noting that it "noted a tangible improvement in the collection of receivables." in the Kurdistan Region.

He added that "the board discussed a semi-annual report on the company's budget and work plan for the next five years, as well as another semi-annual report on the group's risk management. The board approved the financial statements for the first quarter. At the conclusion of its deliberations, the board reviewed a report on the progress of legal and arbitration cases." .

Dana Gas owns assets in the fields of gas exploration and production in the UAE, Egypt and the Kurdistan Region of Iraq, with a production rate of 66,200 barrels of oil equivalent per day, and proven and probable gas reserves of more than one billion barrels of oil equivalent in 2019.


Al-Sistani's representative: The reference is present and watching.. and the strife has not ended

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The representative of the supreme religious authority of Shiites, Ali al-Sistani, confirmed today, Thursday, that the supreme religious authority "is present and watching the scene," while noting that "whoever expects the strife to end is more important."

This came in a speech delivered by Al-Safi at the "Sixth Cultural Religious Defense Fatwa" festival, which is held by the Abbasid shrine, in the city of Karbala, on the occasion of the anniversary of the fatwa of "sufficient jihad" launched by Al-Sistani to confront ISIS in 2014.

 

Al-Safi said, "The supreme reference is present and is watching the scene and has warned of many matters related to the country," adding, "Whoever expects the strife to end is more important and we need insight in this matter."

He added that "one of the most dangerous issues is when people's awareness decreases and the demonization of those in control increases," noting that "a nation that closes its ears will fall into the quagmire."

And he indicated that "Iraq went through a very difficult period before the fatwa for sufficient jihad," noting that "the decision of the fatwa for sufficient jihad was a historical, national and religious decision, and its timing was successful."

He asked, "Who brought the country to before the fatwa?", adding that "there is no ability to control change except the fatwa of sufficient jihad that stopped ISIS gangs, and history must be present among us."

He pointed out that "the Iraqi reality would not have changed had it not been for the fatwa of sufficient jihad," noting that "the masses reacted to what Najaf said."

He also said, "If Iraq had fallen, God forbid, that would have had a great impact on the region," noting that "a third of the country had collapsed, and the authority had its final say in the fatwa of sufficient jihad."

He stressed that "Iraq has defeated the enemies thanks to its people after the bloodshed of terrorism," stressing that "the fatwa of the sufficient jihad showed the presence of many energies in the country, and united the ranks."

Al-Safi quoted Al-Sistani as saying, "A nation that loses its will cannot defend itself," stressing, "We are proud of the reference, the fatwa, the heroes, the martyrs and the wounded, and we remain indebted to them."

He pointed out that "the reference was a follow-up to the details of the battle and the heroes who participated in it," noting that "after the fatwa of jihad, the camps were filled with fighters defending Iraq."


The central electronic platform for letters of guarantee enhances confidence in banking transactions

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In implementation of the Banks Association’s plan for 2022 to establish a number of banking workshops in cooperation with the competent departments of the Central Bank of Iraq, the workshop on letters of guarantee was held and in the presence of all the ministries of the state and its relevant departments, with the participation of representatives of the Central Bank and all government and private banks, with more than 200 personalities.

Through my follow-up to this file historically since the issuance of the Banking Law 94 of 2004, therefore, the first and second strategy of the Central Bank and what was emphasized by the first goal in it is to develop the banking sector and focus on internal and external banking operations, in particular banking products of contractual character in accordance with the laws in force and among these basic products is the issuance of Letters of guarantee, control, control and automation of means to reduce risks in all areas of banking work. Therefore, the bank established the central electronic platform for recording letters of guarantee in order to work to reduce the phenomenon of issuing letters of guarantee without registering them in the bank’s records by registering them in this platform available to banks and beneficiaries via the Internet.

Where banks access it and record data and a copy of the letters of guarantee to obtain a registration number, then all the data is available to the Central Bank to compare it with the financial statements of the banks.

 The above mechanism, after its implementation, has achieved good and accurate results to control and monitor the movement of issuing letters of guarantee in a manner that guarantees the rights of the beneficiary in accordance with the law in force, but with audit mechanisms that enhance the mutual trust between our banks, the ministry and state departments beneficiary from the implementation of various development projects in all sectors.

 Where the electronic platform achieved in 2021 important results, as the number of letters of guarantee issued reached more than (30) thousand letters of guarantee, the amounts of which exceed (9) trillion dinars, which confirms the success of the strategy of organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries in the banking sector in accordance with the new approved mechanism and with the achievement of These results, the Central Bank tries from time to time to conduct an evaluation of the process and amend some instructions that facilitate banking operations and develop them to serve the other and the beneficiary and thus achieve legal guarantees that protect all parties.


Al-Sadr closes his door to all political forces: I will not receive !you

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Today, Thursday, a leader in the Sadrist movement revealed the refusal of the movement's leader, Muqtada al-Sadr, to meet with any political party during the next .stage The leader, who asked not to be named, told "Baghdad Today",

"The leader of the Sadrist movement, Muqtada al-Sadr, has closed his door to all political forces. He refuses to receive any party and political figure during the next stage, after ".announcing his withdrawal from the political process

And he indicated that "there are contacts taking place with a number of leaders of the Sadrist movement from different sides and personalities, with the aim of coordinating to meet al-Sadr and meet with him, but the leader of the movement refused that and informed them that his door is currently closed to all political forces ".without excluding any party 


Al-Maliki: We are looking for points of convergence, not rivalry with the Sadrist movement 

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The head of the State of Law coalition, Nuri al-Maliki, commented on Thursday, June 16, 2022, on the position of the Sadrist movement's latest position on the political process, noting that he is looking for points of .convergence and not a rivalry with the Sadrist movement

Al-Maliki said in a tweet on his Twitter account, which was followed by the obelisk, that our relationship with the Islamic forces, parties and currents, including the brothers in the Sadrist movement, has a great goal and is related to .a serious responsibility

He pointed out that this relationship always requires us to be keen on it, and to search for points of convergence, cooperation and integration, which are many, and not intersection and disharmony, or antagonism and exclusion, which is not our approach that we learned from our guiding imams, peace be upon them, nor does it serve our faith, .our homeland and our people in this circumstance. The hardship

He added: We will continue to adhere to this position, and extend our hands to everyone in cooperation with all the benevolent and responsible Islamic and patriotic forces, whether they are inside or outside Parliament, as long as the .goals and challenges do not differentiate between us

Al-Maliki stressed that differences, which are simple and not strategic, should not separate us. We may differ in some .positions, but cooperation and keenness on unity is the basis and fixed strategy for us 


America imposes sanctions on Iran, the first after the failure of negotiations to revive the nuclear agreement

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The US Treasury announced today, Thursday, the imposition of new sanctions related to Iran, including petrochemical companies, shipping and two people.

The Treasury Department said the United States has imposed sanctions on companies that help export Iranian petrochemicals, in an effort to increase pressure on Tehran to revive the 2015 Iran nuclear deal.

"The United States is pursuing a path of diplomacy aimed at achieving a mutual return to compliance with the JCPOA," Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson said in a statement referring to the 2015 agreement.

"In the event that no agreement is reached, we will continue to use the sanctions powers to limit exports of oil, petroleum and petrochemical products from Iran," Nelson said.

"The United States will continue to expose the networks Iran uses to conceal its sanctions evasion activities," he added.

Nuclear talks hosted by the Austrian capital Vienna have stalled in part over whether Washington will remove the Islamic Revolutionary Guard Corps, which controls the armed and intelligence forces that Washington accuses of a global terrorist campaign, from the list of US foreign terrorist organizations.



Al-Maliki flirts with Al-Sadr and offers cooperation

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The leader of the State of Law coalition, Nuri al-Maliki, expressed, on Thursday, "flexibility" in addressing the leader of the Sadrist movement, Muqtada al-Sadr, in an attempt to discourage the latter from insisting on withdrawing from the political process.

Al-Maliki said in a tweet on his Twitter account, which was followed by Shafak News Agency, that "our relationship with Islamic forces, parties and currents, including the brothers in the Sadrist movement, has a great goal and is related to a serious responsibility."

He pointed out that this relationship “imposes us always to be keen on it, and to search for points of convergence, cooperation and integration, which are many, and not intersection and disharmony, or antagonism and exclusion, which is not our approach that we learned from our guiding imams, peace be upon them, nor does it serve our faith, our homeland and our people in this difficult situation."

He added, "We will continue to adhere to this position, and extend our hands to everyone in cooperation with all the benevolent and responsible Islamic and patriotic forces, whether they are inside or outside Parliament, as long as the goals and challenges do not differentiate between us."

Al-Maliki stressed, "Differences, which are simple and not strategic, should not separate us. We may differ in some positions, but cooperation and keenness on unity is the basis and the firm strategy for us."

A source in the coordination framework told Shafak News Agency today, Thursday, that "the coordination framework will begin next week with all forces, as it is hoped that a meeting will be held that includes the framework and its allies with the leaders and leaders of the Sovereignty Alliance and the Kurdistan Democratic Party to reach understandings leading to the formation of a government."

 

This came after the leader of the Sadrist movement, Muqtada al-Sadr, confirmed during his meeting with the Sadrist bloc’s representatives who submitted their resignations from the membership of the House of Representatives that there is no going back in the decision to resign and withdraw from the process, except on the condition that “not to participate in the elections in the event that the corrupt participate in it.


Secrets of Al-Attar's meeting with Al-Kazemi: Who is moving the demonstrations..and why was the condemnation of Turkey delayed..and what is the point of participating in a summit that supports Israel?

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Aswar // Private sources revealed the sensitive dialogues that took place during the coordination framework meeting with Prime Minister Mustafa and Al-Kazemi, Thursday, June 16, 2022.

The sources reported that the Al-Attar forces presented three main points to Al-Kazemi, according to the leader of Asa'ib Ahl al-Haq, Sheikh Qais Khazali.

According to the sources, the framework forces were not convinced by Al-Kazemi's answers on the issue of the demonstrations, as Sheikh Khazali told Al-Kazemi that the demonstrations are of two types, the first is a true peaceful demand, and the second is politicized demonstrations to create chaos.

The source said that Sheikh Khazali had conveyed to Al-Kazemi the information that the Prime Minister was behind the politicized demonstrations.

But Al-Kazemi denied that he was behind the planning of these politicized demonstrations.

 Sheikh Al-Khazali also asked Al-Kazemi a question about the measures regarding the Turkish bombing and the shedding of Iraqi blood on Wednesday.

 Al-Kazemi made it clear that he recommended that the Foreign Minister meet the Turkish ambassador next Saturday to talk to him in this regard, but the framework forces criticized this delay, and considered that the postponement was an insult to Iraq and the blood of Iraqis, and that it should not be delayed until next Saturday and not to take a serious position commensurate with With the scale of the Turkish aggression.

The meeting discussed Al-Kazemi’s expected participation in a summit in Saudi Arabia, in which US President Joe Biden will participate, as the framework forces considered that the goal of the meeting is to protect Israel’s security, but Al-Kazemi made it clear that he told the summit’s organizer that he would not participate in the meeting if it included support for Israel and aggression against Iran.

Sheikh Al-Khazali demanded from the Prime Minister a clear, official position on the meeting and its agenda, considering that the issue cannot be tolerated because it means support for the Israeli entity, and will make the Iraqi Prime Minister liable for violating the law criminalizing normalization..





Below here is the WOTS for the day "Word on the Street" report:

A list of the Iraqi dinar exchange rate against the dollar on the Iraqi Stock Exchange for today, Thursday (June 16, 2022), according to specialists.  


Baghdad - the stock exchange  

148,450  

—-  

The price is in most Baghdad exchanges  

148,000  

149,000  

——————  

Basra - Bursa  

148,600  

——————  

Erbil - Bursa  

148,575  

———————  

Sulaymaniyah - Bursa  

148,600  

———————  

Mosul - Bursa  

148,600  

—————————  

Najaf - Bursa  

148,550






The Markets:
The Asian markets closed mixed NIK up by .40% HSI down by 2.17% SHANG down by .61%
The UK markets are currently trading in the red  from 1.90% to 2.86% 
Our futures are currently trading down  DOW at 30102 by 1.82% SNP at 3707.25  by 2.34% NDX at 11309  by 2.70%

Precious Metals:
Gold is green at 1823 Silver is green at 21.46 Copper is red at 411 Platinum is green at 923 

Brent 118 WTI  114   Bitcoin: 21,037  10 yr yield: 3.44


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1434.8000  1492.3000 1457.1000 1455.2000 1455.2000  -0.1000 06:14
 USD/VND  23232.0000  23242.0000 23221.0400 23214.2400 23214.2400  8.0200 02:07
 USD/CNY  6.7147  6.7169 6.7164 6.6916 6.7125  0.0020 05:24
 USD/KWD  0.3067  0.3077 0.3068 0.3067 0.3068  -0.0001 05:24
 GBP/USD  1.2166  1.2167 1.2188 1.2059 1.2169  -0.0003 05:26
 USD/IRR  42000.0000  42500.0000 42278.5000 42258.6000 42278.5000  -73.5000 10:39
 USD/IDR  14818.0000  14822.0000 14825.0000 14661.0000 14667.0000  147.0000 05:26

Things in the News:

Iraqi Articles:

Hundreds of protesters against poor services gather in Al-Haboubi )Square in central Nasiriyah (video

link

Hundreds of protesters gathered today, Thursday, against poor services, in .Al-Haboubi Square in the center of Nasiriyah

In the early hours of Thursday morning, Dhi Qar governorate witnessed a demonstration by dozens of Nasiriyah residents to demand appointment and improvement of their service .reality

And (Baghdad Today) published a video clip documenting the departure of dozens of graduates and earners from the people of Nasiriyah in a large demonstration, as they closed .the departments of Nasiriyah by welding their doors

While some of the graduates cut off the Olive Bridge in the center of Nasiriyah, the center of .Dhi Qar Governorate, to demand job opportunities for them

Thaer Al-Aboudi (one of the demonstration coordinators), told (Baghdad Today), "The demonstration continues until job opportunities are provided for graduates in the public or ".private sector, and that the protest methods will develop if our demands are not met

He added, "There are 1,000 grant contracts for the governorate, according to the Food Security Law approved by the House of Representatives. They must be granted to graduates ".first

The governor of Dhi Qar, Muhammad Hadi, had issued an order to all security forces in the .province to provide security and protection for these demonstrations

The governor of Dhi Qar directed the security forces not to interact with the .demonstrators, while ordering the closure of government departments in the city

 

A meeting between Nuri al-Maliki and independent representatives headed by Hussein Arab - Urgent

link

Today, Thursday, a political source revealed a meeting between the State .of Law coalition and independent representatives

The source said, to (Baghdad Today), that "a meeting was held at the home of the leader of the State of Law coalition, Nuri al-Maliki, with independent representatives ".headed by Representative Hussein Arab

He added, "The meeting discussed developments in the political scene and appropriate solutions after the resignation of the Sadrist bloc's deputies from the House of Representatives," adding that "the file of forming the new government was discussed in light of the rapprochement that exists between the rule of law and ".independent representatives

Yesterday, Wednesday, the leader of the Sadrist movement, Muqtada al-Sadr, had set one condition for his return to the political process, noting that "he will not ".participate in any elections in which the "corrupt" participate

I decided to withdraw from the political process so as not to participate with the" corrupt in any way," Al-Sadr said in a meeting with deputies of the Sadrist bloc, which was held in Al-Hanana in the Najaf governorate. "

If the corrupt participate in ".the upcoming elections, I will not participate in it Al-Sadr continued, addressing the resigned Sadrist bloc deputies, "If the corrupt are removed and I participate in the upcoming elections, you will represent the Sadrist ".bloc again


Partnership of private banks with foreigners removes suspicions of money laundering

link

Partnership of private banks with foreigners removes suspicions of money laundering

 

 Nafeh Al Naji
Member of the Board of Directors of the Federation of Businessmen, Abdul Hassan Al-Ziyadi, who is in charge of the import file, called for the entry of Iraqi private banks in partnership with the branches of Turkish, Iranian and Chinese foreign banks, to reduce the waste of money in imports, and stave off suspicions of money laundering in the currency sale window, and contribute to adjusting the balance Iraq's trade balance. The trade balance of any country is the result of the difference between the value of exports and imports during a certain period of time. If the value of imports exceeds exports, this means that there is a deficit, but if there is an increase in exports and a decrease in imports, then the country has a trade surplus.
 
Al-Ziyadi said in a statement to “Al-Sabah”: “The entry of Iraqi private banks into such a partnership will greatly reduce the amount of wasted amounts in the currency sale window established by the Central Bank, and encourage the activation of documentary credit and the ease of movement of funds and their transfer from the buyer merchant to  the seller".

He added, "This process will support the volume of trade exchange between Iraq and those countries, because the goods imported from those countries are many and varied and have an active presence in the Iraqi market, and the provision of funds will enhance the establishment of a local industry and regulate the process of import.”

Al-Ziyadi considered that “the most important thing that this process will provide is the accurate data of the volume of imports and their real values, which removes suspicions of money laundering in this aspect, and gives credibility to the commercial dealings between Iraq and those countries, in addition to the fact that private banks have flexibility in transferring money away from the routine found in government banks, as well as granting the Central Bank freedom from the restrictions of the currency auction, and it also enhances the role of its control over the movement of funds, which contributes to the provision of immigrant funds, and makes the capital circulate locally".
 
Dr. Mudar Abdullah from the National University of (Sawa) says, “The latest statistics and economic data indicate that the volume of trade exchange between Iraq and Iran has reached nearly nine billion and twenty-seven million dollars, while Iran’s exports to Iraq amounted to eight billion and twenty-two million dollars, while it imported from it at a value of eight billion and twenty-two million dollars. Only one billion and five million dollars.” 

He added, "China leads the countries exporting to Iraq, especially after Beijing concluded construction deals last year with Baghdad worth ten and a half billion dollars, while the values of trade exchange ranged between increase and decrease with a number of Arab and foreign countries such as Saudi Arabia, Jordan, Egypt, Syria, Lebanon, Turkey and others, with oil remaining As a key factor for exports 
Iraq.” Specialists stressed that the recent government decisions about extending zero customs duties on goods and commodities, canceling all decisions to protect the national product and banning imports, may lead in another way to an increase in imports at the expense of exports, especially since the past months did not reveal any significant decline in the prices of imported materials, which The industrialists and agriculturalists say that it greatly harmed their sectors and increased its stagnation.

CBI Update:  Just  a note:

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction for June 16th, 2022 total sales amount $242,708,146

including   $20,050,000. CASH 


ISX Update:   

www.isx-iq.net/   

Shares Traded: 
Value Traded: 

closed 


6-15-2022   Newshound Guru Samson  Article: "World Bank: Iran 's economy is the fastest growing in the world". Quote "The World Bank announced that the annual growth rate of the Iranian economy this year has reached three and seven percent, which will constitute its highest level in the global economy for this year."

6-15-2022   Intel Guru MarkZ   [via PDK]   [Do you think Iraq will announce in-country before we go?]   I think so…there would be instability in iraq if we hear it over her first. I personally think they will announce it over there first…and try to keep it quiet over there for at least a few hours or a day. I don’t think they can keep it a secret for the 10 days Kuwait had done…internet won’t let them...todays world is too interconnected with cell phones, social media….

6-15-2022   Newshound Guru Tivon  If they said the 2021 Budget...was supposed to "Raise The Value of The Dinar" and that they will empty the 2021 Budget and put all the money in the "Food Security Law" what do you think the FSL will do for the Dinar if Mazhar Muhammad Saleh stated it will move the wheel of the economy? Raise The Value of The Dinar right? Keep in mind that the Oil & Gas Law is in the FSL. What's makes up 90% of Iraqs revenue? Oil. IMO

6-15-2022   Intel Guru Frank26   Article: "The Central Bank of Iraq meets the International Islamic Rating Agency" FLOAT THE DINAR... INTERNATIONAL BANKS!  Quote " the agency's delegation confirmed that the Iraqi Islamic banking sector is one of the promising sectors, expressing the agency's readiness to cooperate with the Central Bank in implementing its vision and providing the necessary support."

6-15-2022   Guru Nader From The Mid East  Article:  "Diebold Nixdorf has announced that Al Qurtas Islamic Bank is the first to reply its DN Series ATMs in Iraq"   Everybody's talking about the new ATMs.  They've been installed, yes.  Yesterday morning I was at the bank and I said (to myself) 'Maybe ATMs gonna be new small categories...'  Well not this morning.  Took some money from it and it's same money.  It's a 25 and the 10 and the 5 thousands.

6-15-2022   Newshound Guru Sandy Ingram  Article:  "Nearly $700m Stolen From Iraq State Banks" ...A total of 926 billion Iraqi dinars equaling $697 million U.S. dollars went missing due to forgery, embezzlement, manipulation, money laundering and abuse of position...yes, people are going to prison.

6-15-2022   Intel Guru MarkZ   [via PDK]   ...there are things right now I am not allowed to talk about…there are things I don’t get to share that has encouraged me. News has been all over the place for the last few days…from anytime now to occurring middle of this week to the fist of September. The overwhelming majority of folks however, think that somewhere in the second half of June we will see the revaluation.  I do not think there will be any more can kicking at all.

6-15-2022   Newshound Guru  Pimpy  They'll tell you, 'Well, we'll find out what the exchange rate is.  You come in buy x amount of dollars of it, you give us the US dollars, we'll give you the foreign currency and when you get back you'll exchange it back the other way."  There's no magical handling of the currency.  Iraq is no different.   [Post 2 of 2]

6-15-2022   Newshound Guru Pimpy  You can literally call your local bank or get a hold of any bank that handles exchanging of currency...They can answer any question.  Don't bring up the Iraqi dinar.  They'll just say they don't do any buying or selling of the Iraqi dinar but just talk about how it works in general.  Just say, 'Hey if I want to go to 'Afoosistan' what do I do?'  [Post 1 of 2....stay tuned]

6-15-2022   Newshound Guru Tivon   Iran just told everyone what they are about to do with their currency. You think Iraq will just sit idly by while the Iranian Rial is performing in the currency market appreciating in value without reinstating prior or right after when they also have the means to do it now thanks to the FSL?

6-15-2022   Intel Guru MarkZ   [via PDK]  Article “Washington: We are ready to work with any Iraqi government on condition”  The condition is they put the Iraqi people first- The sovereignty of the Iraqi people first…We have been expecting this. This is why Sadr’s bloc resigned en masse…to force things to move forward. This is a positive sign.

Catnip's Corner:
On Hiatus

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