Despite the insistence of the Central..A deputy talks about the possibility of changing the dollar exchange rate
Today, Wednesday, the representative of Ishraqa Kanon, Bassem Al-Gharabi, spoke .about the possibility of changing the dollar exchange rate in Iraq
Al-Ghurabi said in a statement to (Baghdad Today) that "the dollar exchange rate in its current condition promises that the treasury of the Sultan will be full and the ".stomachs of the subjects will starve And he indicated that "in an intervention during the expanded meeting held by the Finance Committee and in the presence of the Governor of the Central Bank, he prepared a full study in cooperation with solid Iraqi universities and specialized professors, in which he proved the possibility of changing the exchange rate to suit the market situation and the condition of the poor citizen in conjunction with the ".current economic growth And earlier today, Wednesday, the Central Bank denied the existence of any efforts to change the exchange rate of the dollar, and that any possibility to change it now will .cause the destruction of the Iraqi economy
The Central Bank warns of “destroying” the economy: seeking to change the exchange rate is incorrect
Today, Wednesday, the Central Bank of Iraq warned against trying to destroy the Iraqi economy and its stability, by changing the exchange rate of the dollar.
Central Bank adviser Ihsan Shamran al-Yasiri said in a statement to the official agency, followed by "Nass" (October 12, 2022), that "the Central Bank of Iraq is an independent body, and the exchange rate adjustment is done in agreement with the government, and there are no efforts now to change it."
Al-Yasiri added, "The pressures exerted to change the exchange rate are populist, and if the change takes place, it will destroy the economy and stability, because financial and economic transactions and investors built their projects on the new price, and it is incorrect to seek to change the exchange rate."
He added, "Changing the exchange rate raised the competitiveness of the local product, and although there are some disadvantages to the consumer, the change process enabled the government to pay the employees' salaries after the state budget was empty."
Central Bank: Changing the exchange rate will destroy the economy
On Wednesday, the Central Bank of Iraq denied the existence of efforts to change the exchange rate of the dollar, while warning against the process of destroying the economy and its stability.
Central Bank adviser Ihsan Shamran al-Yasiri told the official news agency, "The Central Bank of Iraq is an independent body, and the exchange rate adjustment is done in agreement with the government, and there are no efforts now to change it."
He added, "The pressures exerted to change the exchange rate are populist, and if the change takes place, it will destroy the economy and stability, because financial and economic transactions and investors built their projects on the new rate, and it is incorrect to seek to change the exchange rate."
Al-Yasiri continued, "Changing the exchange rate raised the competitiveness of the local product, and although there are some harms to the consumer, the change process enabled the government to pay the salaries of employees after the state budget was empty."
The Central Bank: Changing the exchange rate is in agreement with the next government
The Central Bank of Iraq announced, on Wednesday, that any efforts to change the dollar exchange rate will be in agreement with the next government.
And the bank's advisor, Ihsan Shamran al-Yasiri, said in a statement to the Iraqi News Agency, which was seen by "the information", that "the Central Bank of Iraq is an independent body, and the exchange rate adjustment is done in agreement with the government, and there are no efforts now to change it."
Al-Yasiri added, "The pressures exerted to change the exchange rate are populist, and if the change takes place, it will destroy the economy and stability, because financial and economic transactions and investors built their projects on the new price, and it is Incorrect to seek to change the exchange rate."
He continued, "Changing the exchange rate raised the competitiveness of the local product, and although there are some disadvantages to the consumer, the change process enabled the government to pay the employees' salaries after the state budget was empty.
Al-Kazemi’s advisor: Extinguishing foreign debt from financial surpluses needs a law
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, on Wednesday, the mechanism for repaying loans and debt installment payments, while stressing that extinguishing external debts from financial surpluses requires a law.
Saleh said, to the official news agency, that "the repayment of loans is subject to specific mechanisms and agreements in repayment within the so-called public debt management," noting that "the payments of debt installments are subject to allocations within the actual current expenditures covered by paragraph 13 of the Federal Financial Management Law No. 6 For the amended year 2019, and the annual budgets laws shall set the allocations for outstanding debt services.
He added, "There are undrawn international loans whose withdrawals are spent on specific projects such as the projects of the Japan International Cooperation Agency or projects funded by the World Bank and funds for European governments," noting that "external borrowing issues are among the usual issues recognized in international finance, especially if It was for developmental purposes and free from acquiescence and various conditionalities.”
He continued, "Extinguishing the remnants of external debt from the expected financial surpluses is an issue that needs a law or a text in the next general budget law, provided that it is not linked to the generation of risks for claims for almost non-existent international debts that belong to the previous regime."
The extension movement announces its boycott of the presidential election session
The Extension Movement, the political forces close to the Tishreen protests, announced, on Wednesday, their boycott of the parliament session to elect the President of the Republic,
The movement said in a statement received by (Baghdad today) that it "has decided, after it has clarified the features of the agreements and consensus to form the next government, in the same ".style as previous experiences, to boycott the session to elect the president of the republic The movement added that "the reasons will be announced in a detailed press conference when ".the session is held
The Presidency of the House of Representatives has set, tomorrow, Thursday, an official date for electing the President of the Republic, after a political blockage that has lasted for more than a .year since the early parliamentary elections
An agreement to pass the president .. Disclosure of the position of independent representatives from Thursday's session
A member of Parliament, Basem Khashan, revealed today, Wednesday, the position of independent representatives from attending tomorrow's
In an interview with (Baghdad Today), Khashan said that "independent deputies ".represent different trends and points of view He added, "Some of them will attend the session to choose the president of the republic and others will boycott, and there is a group of independents who do not have a clear position on tomorrow's session," noting that "it is likely that a session to choose the president of the republic will be held because it seems that there is an agreement between the blocs. The major political parties are required to hold the republican session and achieve a quorum of two-thirds of the members of the House .of Representatives
Will Iraq’s Gridlocked Parliament Finally Elect a President?
The Council of Representatives of Iraq, the country’s beleaguered parliament, will meet on Thursday to elect a new president.
The Council of Representatives of Iraq, the country’s beleaguered parliament, will meet on Thursday to elect a new president, according to the office of Iraqi parliament speaker Mohamed al-Halbousi—a move that could end Iraq’s year-long political deadlock, restore public functions, and move the country away from the precipice of civil war if successful.
Halbousi’s office announced on Tuesday that the parliament would convene for an extraordinary session with “a single item on the agenda, the election of the President of the Republic.” The session appears to be the fourth within the year to elect a new president; Halbousi convened a series of three meetings with the same objective from February 7 to March 30, but the parliament failed to agree on a successor to the incumbent president, Barham Salih, on each occasion.
The failure to choose a president lies at the heart of Iraq’s current political deadlock. Following the country’s most recent elections in October 2021, the Sadrist Movement of influential Iraqi Shia cleric Muqtada al-Sadr gained 73 out of 329 seats, making it the largest faction within the Council of Representatives and giving it a majority after it formed alliances with sympathetic Sunni and Kurdish parties. However, according to Iraq’s constitution, the president must be chosen with two-thirds of the parliament, meaning that a broad consensus is required for the appointment—a consensus that the minority faction within parliament, the pro-Iran Coordination Framework, was able to block. Because the president chooses the prime minister and formally opens the government, Iraqi politics effectively froze with the deadlock on the presidential appointment.
In an effort to break the deadlock, all seventy-three members of the Sadrist Movement resigned from office in June, hoping to trigger new elections. However, instead of holding new elections, the Coordination Framework attempted to press ahead without the Sadrists and form a sympathetic government, leading to street protests and the storming of the parliament building. In August, Sadr announced that he would quit politics and dissolve the Sadrist Movement, leading to a massive wave of protests in Baghdad and southern Iraq.
Under Iraq’s confessional political system, the largely ceremonial presidency is informally reserved for a Kurd, while the prime minister is traditionally a Shia and the speaker of parliament a Sunni. Since 2003, the presidency has been held by members of the Patriotic Union of Kurdistan (PUK), but its opposition party within Iraq’s Kurdistan region, the Kurdistan Democratic Party (KDP), received roughly twice as many votes in the 2021 election and has pushed for its own candidate. The two sides have not come to an agreement yet.
Although Iraq has gained a windfall from high oil prices following the Russian invasion of Ukraine, the political deadlock has prevented it from passing a budget, limiting the government’s ability to spend it on infrastructure repairs and social programs.
A legal expert clarifies the mechanism for electing the President of the Republic and the required quorum
Al-Tamimi added, in a statement received to {Euphrates News}, “regarding the most numerous bloc, the decision spoke about the possibility of presenting this bloc at any time, whether in the first session or to the elected speaker of parliament, and even after the election of the president of the republic as long as it was not sent by the speaker of parliament to the elected president of the republic. He indicated that “the court reasoned that the most numerous bloc according to this concept is variable and liable to join after meetings of parties and lists, provided that this does not intersect with Article 45 of the Elections Law 9 of 2020.”
He continued, "This new concept of interpretation of Article 76 of the Constitution regarding the most numerous bloc is a modification of the old interpretation 25 of 2010, and this is a new direction for the Federal Court that is consistent with international constitutional jurisprudence in interpretation and its renewal according to economic, legal and political conditions, and even if the court's decision is now, these bits do not mean final."
He pointed out, "As for the other decision that is linked with the above decision in terms of implementation, it is necessary to hold the parliament session and achieve its quorum in electing the new president of the republic by a two-thirds majority of 220 deputies, and that the decision is taken with this count in the first round of voting to elect the president of the republic."
And he stated, “The Federal Supreme Court caused this by stating that Article 70 of the Iraqi Constitution is an exception to the original contained in Article 59 of the Iraqi Constitution, which required that the session be attended by 165 deputies, and that decisions be taken by simple majority.”
On the eve of Thursday's session... the Al-Jumhuriya Bridge in Baghdad was closed
A security source reported, on Wednesday, the closure of Al-Jumhuriya Bridge in the center of the capital, Baghdad.
The source told Shafaq News Agency, "The security forces started closing the Al-Jumhuriya Bridge in conjunction with the parliament session tomorrow, Thursday, to elect the President of the Republic," explaining that "the bridge was closed with concrete blocks, and the pieces will be in the form of 3 barriers at the top of the bridge."
Tomorrow, Thursday, the Iraqi parliament is scheduled to hold a special session to elect a president of the republic, with the participation of 33 candidates.
Tomorrow's session... Parliamentary confirmation of achieving a quorum to choose the presidents of the republic and the ministers
Representative of the State of Law coalition, Muhammad Chihod, confirmed that the parliament session for tomorrow will achieve the quorum required to pass the candidate for the post of President of the Republic, pointing out that tomorrow's session will witness the selection of the President of the Republic, as well as the assignment of the new Prime Minister.
Chihod told Al-Maalouma, "The State Administration coalition with all its political blocs and parties from the coordinating framework, the independents and the parties affiliated with it will attend tomorrow the election session and pass the candidate for the presidency."
He added, "The issue is settled, and tomorrow's session will be held with a full quorum to achieve a numerical majority of 220 deputies in order to choose one of the candidates for the aforementioned position."
He explained that "tomorrow's session will witness the completion of two successive steps, namely the selection of the President of the Republic, as well as the assignment of the candidate to head the new government, and thus the completion of the expected constitutional benefits."
And he indicated that "the independent representatives will attend tomorrow's session after the position of Deputy Speaker of the House of Representatives has been granted, and in sum, withdrawals from some blocs will not affect achieving the quorum required to pass the candidate for the presidency."
There were conflicting statements about the withdrawal of some political blocs, including the extension movement, and their failure to attend tomorrow’s session, while the position of the Democratic Party is still unclear whether it will attend the session or not, at a time when it was announced support for Abdul Latif Rashid’s candidacy for the position of President of the Republic, amid assurances that the National Union would not concede. About his candidate Barham Salih, which confirms the lack of understanding between the two parties on a unified candidate, which repeats the scenario of 2018, which left parliament the freedom to choose the candidate it finds suitable for the presidency.
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