Baghdad and Erbil agreement on the implementation of Article 140 of the Constitution
The Kurdish forces in the Kurdistan region announced that they had reached an agreement with the federal authorities to form a joint supreme committee within ten days, whose task is to implement Article 140 of the Iraqi constitution.
The State Administration Alliance decides to activate Article 140 of the Iraqi constitution
The State Administration Alliance decides to activate Article 140 of the Iraqi constitution
Today, Monday evening, the State Administration Alliance held a meeting at the home of the late former Iraqi President Jalal Talabani.
The coalition stated in a statement, of which Mawazine News received a copy, that "it was decided in the meeting that was hosted by Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, to activate Article 140 of the Iraqi constitution, provided that a committee is formed for the same purpose to carry out its duties within a period of 10 days."
He added, "The meeting discussed security developments, completing the new government's work program, and other important issues related to the general situation in the country."
The statement indicated, "The meeting was attended by Prime Minister Muhammad Shia al-Sudani, Parliament Speaker Muhammad al-Halbousi, the leader of the State of Law, Nuri al-Maliki, and the leader of the Jamahiriya Party, Ahmed Abdullah al-Jubouri.
updated
Minister of Justice Khaled Shawani revealed, on Monday, the details of the meeting of the State Administration Coalition at the home of the President of the Patriotic Union of Kurdistan, Pavel Talabani.
Shawani said in a press conference held during the meeting, that "it was decided in the meeting, which was hosted by Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, to activate Article 140 of the Iraqi constitution, provided that a committee is formed for the same purpose to carry out its duties within a period of 10 days."
He added, "The new government was formed as a result of a political agreement, one of its clauses included the implementation of Article 140 and the re-formation of the Supreme Committee for the implementation of that article, which has been suspended since 2014," noting that "disabling the committee created a great void, and contributed to the re-Arabization of Kirkuk governorate and the cut-off areas."
And he continued, "The re-formation of that committee was one of the main demands of the delegation of the Patriotic Union of Kurdistan headed by Pavel Jalal Talabani in the negotiations to form the Iraqi government," stressing that "it was decided to form that supreme committee within a period of one month from granting the Sudanese government confidence in the Iraqi parliament, and this What happened after a series of meetings with Al-Sudani and his government.”
He explained that “the committee will begin its duties within a period of 10 days and will disclose to parliament the budget it needs to perform the duties entrusted to it, in order to allocate the necessary funds for it in the 2023 budget,” noting that “with the formation of that committee, the implementation of Article 140 will return to its normal course.”
Shawani thanked all the parties that cooperated in this regard, including the Coalition within the Coordination Framework and the Sovereignty Coalition, because the process took place in agreement and agreement, pointing out that the committee was formed several days ago, but we decided to announce it from Mam Jalal's house in Baghdad.
Turkmen Parliamentary Bloc holds a conference on 'attempts to activate Article 140'
On Tuesday, the head of the Turkmen bloc, Representative Arshad al-Salihi, held a press conference inside the dome of the House of Representatives on "attempts to activate the expired Article 140."
Earlier, the State Administration coalition held a meeting at the home of former Iraqi President Jalal Talabani.
And the coalition stated in a statement that “NAS” received a copy of, (November 28, 2022), “It was decided in the meeting that was hosted by Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, to activate Article 140 of the Iraqi constitution, provided that a committee will be formed for the same purpose that will carry out its tasks within a period of 10 years.” days".
And he continued, "The meeting was attended by Prime Minister Muhammad Shia' al-Sudani, Parliament Speaker Muhammad al-Halbousi, the leader of the State of Law, Nuri al-Maliki, and the leader of the Jamahiriya Party, Ahmed Abdullah al-Jubouri."
The coalition revealed "high-level dialogues and meetings to prevent violations of Iraqi sovereignty from any external party," stressing "Iraq's serious work to prevent the use of its lands as a springboard to destabilize the security of neighboring countries."
The statement added, "The meeting decided to complete the cabinet and name the ministers of environment, housing and construction."
According to the statement, the coalition listened to "a comprehensive report on the provincial elections law and the House of Representatives, while the details of the law were discussed from the political and technical sides."
The President of the Republic receives the British Ambassador to Iraq
The President of the Republic, Abdul Latif Jamal Rashid, received today, Tuesday, the British Ambassador to Iraq, Mark Bryson Richardson, to discuss ways to strengthen bilateral relations and consolidate prospects for cooperation and partnership between the two countries.
And the Presidency of the Republic stated, in a statement received by Mawazine News, that "the President received the British Ambassador to Iraq, Mark Bryson Richardson, to discuss ways to strengthen bilateral relations and consolidate prospects for cooperation and partnership between the two
friendly countries in order to achieve common interests."
The statement added, "The president stressed the importance of cooperation in confronting extremism and terrorism, security and intellectual, and praised Britain's role in the war against ISIS gangs, stressing the importance of making more efforts to secure the support of the international community to resolve the file of the displaced and return them to their areas of residence."
He pointed out that "the problem of the displaced and the complex and disastrous circumstances facing them," indicating that he had held several meetings with political and security leaders who expressed their concern about the problems facing the displaced, especially since the total number of the displaced exceeded (600) thousand,
and regarding investment opportunities and the need for a real revolution. In the field of economic development, the President of the Republic stressed the possibility of benefiting from British companies in the field of exchanging experiences and developing the economic reality, rehabilitating the infrastructure, advancing the status of services, and supporting the private sector. ISIS gangs and low oil prices.
The statement continued, "The British ambassador affirmed his country's interest in developing relations with Iraq in all fields and in a way that achieves the common interests of the two friendly peoples," noting that his country and the United Nations support all steps that would find radical solutions to address the file of the displaced and create the appropriate atmosphere and conditions for their return to the regions. their dwellings."
Report: The Central Bank of Iraq stops dealings with Lebanese banks
About one week after the decision of the Central Bank of Iraq to stop all transactions between Lebanese banks and Iraqi financial institutions and banks, following the discovery of large suspicions of corruption.
Sources in Baghdad revealed the latest results of the investigation conducted by the Iraqi Integrity Commission in Baghdad, and the amount of money actually withdrawn.
Banking corruption operations are summarized in the transfer of accounts by Iraqi and Lebanese companies and personalities in troubled Lebanese banks to the Iraqi government branches of Al-Rafidain and Al-Rashid Banks in Beirut, in order to withdraw funds through them, in a fraudulent operation involving Iraqi bank employees and officials.
An Iraqi official in the Integrity Commission said, in a press statement, followed by “The Independent”, that “the current investigations confirm the existence of great and serious suspicions of corruption that include the process of transferring balances without balance from the troubled Lebanese banks to the Iraqi ones, meaning transferring the financial dispute between the depositor and the troubled Lebanese bank to between the banks.” Iraqi government and troubled Lebanese banks.
The official, who declined to be named, added: “This corruption process involves Iraqi political figures and people from armed factions who pressured these transactions to pass, and we fear that the amount that will be discovered in the end is large.”
And he explained by saying: “There are Iraqi and Lebanese companies and investors who have money in troubled banks and are unable to pay it to them. They made an illegal arrangement, in collusion with officials, to transfer their balances in those banks to the government branches of the Rafidain and Rashid banks in Beirut, and then receive the amounts from them, meaning The bank is supposed to receive later the amounts from the Lebanese banks with the commission, but the banks do not have any ability to pay, which means transferring the financial dispute with bankrupt banks. Regarding the transferred sums, he said: “Until now, we are talking about tens of millions of dollars that have been implemented since Lebanon’s financial crisis several years ago.”
And the Central Bank of Iraq decided, last Wednesday, to stop joint transactions between Lebanese and Iraqi banks, which include transferring the balances of depositors in banks to their Iraqi counterparts, one day after a statement by the Iraqi Integrity Commission announcing the opening of an investigation into the process of transferring balances deposited in Lebanese banks to the Iraqi Rafidain Bank. Beirut branch.
According to an official statement issued by the Integrity Commission in Baghdad, in which it said, “The Supreme Commission has begun an investigation into the process of transferring balances deposited in Lebanese banks to the Rafidain Bank in Beirut.
The statement added that, “Suspicions of corruption are being investigated in the process of transferring balances deposited in lagging Lebanese banks to the Rafidain Bank – Beirut branch, as well as the bank account of the Rashid Bank in the Central Bank of Lebanon.”
And it confirmed the issuance of judicial summons orders against the Director General of Al-Rafidain Bank and his assistant, who were relieved of their positions shortly before the new corruption suspicions were discovered, as part of extensive changes supervised by the new Prime Minister, Muhammad Shia Al-Sudani.
The statement stressed that “the public will be provided with developments in the progress of the investigation in the case and decisions issued by the judiciary against the accused, as permitted by law and without prejudice to the confidentiality of the investigation.”
A member of the Integrity Committee in the Iraqi parliament, Hadi al-Salami, said, “A corruption deal took place in Lebanon, and we are awaiting investigation procedures by the Integrity Commission.”
Al-Salami added that “influential parties and personalities are involved in the case with officials of the Rafidain Bank, with the aim of transferring funds unrealistically and on paper only.” .
A member of the “State of Law” coalition, Alia Nassif, accused the Director General of the Ministry of Foreign Affairs of being involved in the case. And she said in a statement, “A transfer of funds from lagging banks in Lebanon to the Rafidain and Al-Rasheed banks involves a director general at the Ministry of Foreign Affairs,” explaining that two financial transfers were recently monitored for this official: the first at (one million and 250 thousand dollars) and the second at (two million and 500 thousand Dollars) and there are investigations at the Corruption Cases Court in Karkh in Baghdad.
For his part, Mustafa Sanad, a member of the Finance Committee in Parliament, said, in a written clarification to him, that the corruption process related to transferring the balances of troubled Lebanese banks “was not completed.”
He added, “It was supposed to withdraw from 10 to 18 billion dollars legitimately with legal accounting intelligence, but the operations were stopped after the first two million dollars, thanks to the clean network spread everywhere,” without giving further details.
On the other hand, economic and financial expert Abdul Rahman Al-Mashhadani said, “The Integrity Commission’s move on the issue of suspicious transfers confirms that there is a huge corruption process. The commission only moves through information confirming the existence of large and serious financial suspicions of corruption.
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In numbers: More than 30,000 citizens obtained a loan within the Central Bank's initiative
Ali Tariq, Executive Director of the Association of Private Banks, said in a press statement, "The Central Bank of Iraq launched a development initiative to stimulate the economy, through private banks in 2015, for which one trillion dinars were allocated, but in 2021 and 2022 it decided to increase allocations for it to 4 trillion dinars." .
He added, "The total funding from the initiative until the third quarter of this year amounted to 2.2 trillion dinars, up by 124.4% compared to last year, which amounted to 980 billion dinars."
And Tariq confirmed that "the total loans amounted to 30,364 loans until the third quarter of this year, an increase of 88.7% compared to last year, which amounted to 17,032 loans."
The executive director indicated that "the agricultural sector's share was 115.7 billion dinars with 310 loans, the industrial sector 522.2 billion dinars with 1167 loans, the commercial sector 476 billion dinars with 8190 loans, the service sector 310 billion dinars after 2770 loans, and the residential sector 616 billion dinars with 6430 loans, Finally, personal loans amounted to 158.4 billion dinars, with 11,497 loans.
He noted that "these loans contributed to stimulating the non-oil economy, through the establishment of industrial, agricultural and service projects, in addition to supporting investments, which employed thousands of people in these projects, pointing out that the initiative allocated a large part of the financing to lend citizens to buy housing units in the complexes." investment, in support of the establishment of regular cities as an alternative to slums, calling for the continuation of this initiative due to its positive effects on everyone.
And he indicated that "citizens are in great need of loans, but it requires an effort from the Iraqi state to facilitate procedures and protect financial institutions from the risks of evasion and non-payment."
Central Bank of (Iraq) Euphrates News: No denomination will be withdrawn from the Iraqi currency, and the 20,000 is in the process of being designed
on again, off again hmmm but this is the CBi supposedly saying this so it might be on again. I'd like to see it on the CBI website too.
The director of the media office of the bank, Omar Assem, told {Euphrates News} agency, that: "The bank is still in the process of preparing to study, design, and the extent of the impact of the new monetary category on Iraqi society."
He added, "It is too early to print the new category and release it for circulation during the next near stage."
Assem said, "The issuance of this paper will improve the national chain of banknotes, in addition to adding an intermediate category of banknotes, and will facilitate cash circulation among citizens."
He stressed that "none of the old cash categories will be withdrawn, and this category will be added to the rest of the categories with the aim of improving cash circulation. The bank is in the process of understanding and agreeing with discreet printing houses to choose the colors and security characteristics of the papers."
And the Governor of the Central Bank, Mustafa Makhaif, revealed during his participation in the “Al-Rafidian Forum for Dialogue” on September 27, the bank’s intention to issue a new denomination of the Iraqi currency at a value of 20 thousand dinars (approximately $ 13) based on a study and research compared with neighboring countries, and is working to complete The form of the paper, and in the coming days it will be announced.”
It is noteworthy that Iraq has - so far - 7 categories of local currency issued by the Central Bank of Iraq, which are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10000 dinars, 25000 dinars, and 50000 dinars}.
Al-Sudani: We agreed with Raisi to activate the joint economic committee between Iraq and Iran
Prime Minister Muhammad Shia al-Sudani announced today, Tuesday, the agreement with Iranian President Ibrahim Raisi to activate the joint economic committee.
"My visit to Tehran came based on an official invitation to discuss bilateral relations," Al-Sudani said in a press conference held with Iranian President Ibrahim Raisi in Tehran, noting that "we will discuss relations in all fields and situations in the region."
He added, "Iraq does not forget Tehran's support for it since 2003 and the war against ISIS terrorist gangs," noting that "visits and meetings are necessary to push for activating activities in all fields."
He continued, "The economic file is of great importance to the government," pointing out that "we agreed with the Iranian president to activate the joint economic committee."
Al-Sudani appreciated "Iran's position in supporting Iraq in gas supplies," explaining that "
He stated that "the government is committed to implementing the constitution and not allowing the use of Iraqi lands to disturb security against Iran," noting that "we depend in our foreign relations according to the principle of mutual respect and non-interference in internal affairs."
Al-Sudani stressed "not allowing the use of Iraqi lands to threaten Iran's security," stressing that "the government is committed to developing cooperation with Iran in all fields."
| Deputy: The current oil prices are not guaranteed and are likely to collapse below $70 | |
Deputy: The current oil prices are not guaranteed and are likely to collapse below $70
The Parliamentary Finance Committee called on the government, on Tuesday, to work on creating new alternatives that enhance the federal budget other than those derived from the sale of oil, due to the danger of the national economy’s dependence on fluctuating oil prices. Committee member Jamal Cougar said in an interview with the official newspaper, "Despite the multiple sources of revenue other than the developed industry, we are still at the beginning of the road. One of the available elements is religious tourism," adding that "Iraq spends on the tourist and the visitor, while the tourist He himself travels to other countries and spends large amounts of money on his religious tourism." He went on to say, "We also have agriculture, which is available on thousands of acres suitable for cultivation, and which can be invested in to cover the needs of the local market and the Arab Gulf markets, especially as we import all vegetables from other countries," adding that "other factors that can be benefited are the border crossings, where An important paragraph was included in last year's budget, which is the transformation of Iraq from a country that does not invest in the transit sector to a country whose ports and outlets can be like the United Arab Emirates. And he continued, "All capabilities and resources in supplying the budget with a variety of sources depend on the government's reforms and procedures, since it promised to be a service government and it must start with reforms, because the current oil prices are not guaranteed and are likely to collapse below $70, which the government is unable to meet." The needs of the citizens, and this may be reflected in the form of popular discontent and new demonstrations, which the government may not be able to contain.” | |
The President of the Republic calls for controlling "illegal" outlets and encouraging the private sector
Today, Tuesday, the President of the Republic called for issuing laws to control illegal outlets, combat corruption and encourage the private sector, while the Minister of Industry and Minerals gave an explanation of his ministry's future plans.
The media office of the President of the Republic said in a statement received by Shafaq News agency, "The President of the Republic, Abd al-Latif Jamal Rashid, received at the Baghdad Palace, the Minister of Industry and Minerals, Khaled Battal al-Najm, and during the meeting, the President of the Republic referred to the importance of the industrial sector and its effective role in supporting the Iraqi economy," stressing the need Revitalizing it, developing it, and upgrading its reality in proportion to what Iraq possesses of natural and human resources, in order to achieve comprehensive development.
The President stressed the need to issue laws related to controlling illegal outlets, combating corruption, encouraging and supporting the private sector by changing the old management methods and laws related to financial management.
And the President of the Republic listened to "the explanation provided by Minister Al-Najm regarding the mechanisms of the current work in the ministry, its joints, and future plans for its development," pointing to "the need to support the local industry and protect the product, and the minister also appreciated the interest of the President of the Republic in advancing the reality of the Iraqi industry."
Al-Sudani and my boss are discussing 7 common files between the two countries
Today, Tuesday, Prime Minister Muhammad Shia al-Sudani is holding extensive talks with the Iranian side in the capital, Tehran, which he arrived earlier this morning. The Iranian side in the talks was headed by the President of the Islamic Republic of Iran, Mr. Ebrahim Raisi.
Al-Sudani's media office stated that, "Prime Minister Muhammad Shia'a Al-Sudani, and the official delegation accompanying him, held an expanded session of talks with the Iranian side in the capital, Tehran, which he arrived earlier this morning. The Iranian side in the talks was headed by the President of the Islamic Republic of Iran, Ibrahim Raisi."
He added that "the session witnessed discussion of bilateral relations between the two countries, and discussion of files of common interest, foremost of which is the file of security coordination, trade exchange, cooperation in the field of energy and investment, the organization of tourism and mutual religious visits, as well as the water file and facing the challenges of climate change and its economic effects."
He pointed out that "the Iraqi delegation included Foreign Minister Fuad Hussein, Minister of Oil Hayan Abdul-Ghani, National Security Adviser Qassem Al-Araji, and Director of the Prime Minister's Office, Ihsan Al-Awadi, while the Iranian side included Foreign Minister Hussein Abdullahian, Minister of Economy and Financial Affairs Ihsan Khandozi, and a number of others." From Iranian officials," according to a statement by the Sudanese media office, which was received by (Baghdad Today).
Political entrepreneurship in Iraq.. Serving between deputies and politicians with businessmen and wealthy people
Money owners and businessmen in Iraq seek political work, or crawl to parliament seats to win an influential political position, or parliamentary immunity that facilitates them to invest and win contracts and deals, while many of them prefer to win the friendships of politicians and representatives, which is the friendship of commissions and commissions and bribes.
Representatives, officials, and politicians who own commercial and economic interests focus mainly on feeding those interests with money from the state, through contracts, deals, and hospital and university projects.
However, this does not negate the existence of many projects, private universities, and solid companies that have succeeded in making beneficial investments for citizens.
Monitoring sources told Al-Obelisk that these people maintain strong relations with ministries and agencies based on mutual service.
Politics in Iraq has shifted from being a public service mission to people, to an opportunity for enrichment, in coordination with businessmen and stakeholders.
In addition, many contractors and businessmen are, in fact, fronts for influential political parties.
One of the evidences of this is that deputies in the Iraqi parliament accuse (businessmen and politicians) of interfering with the file of printed curricula, in contracting for projects, and in ration card contracts.
More than that, politicians, ministers, deputies, and government officials pay attention to protecting violators, according to beneficial affiliations.
Political entrepreneurship goes beyond Iraq to neighboring countries. Activist Dalila Obaid says that all the Arab leaders who were exposed by documents show that they are contractors, not politicians in their countries.
Political analyst Najah Muhammad Ali believes that the Iraqis in power are political contractors (...).
Journalist Yassin Al-Tamimi also talks about the fact that nothing raises problems, disagreements and tensions in our societies, except for the foreign funds received by bad contractors who are metaphorically called (politicians).
While tweeter Al-Murtaji says that the projects must be implemented by the concerned government departments, not to give the contracting to private companies, which is considered one of the main doors of corruption in Iraq.
Iraq: A New Opportunity to Reform
From the World Bank: 42 pages in English
Iraq Economic Monitor, Fall 2022: A New Opportunity to Reform
The World Bank's new Iraq Economic Monitor, A New Opportunity to Reform finds that high oil prices have boded well for Iraq's economy pushing fiscal and external balance into double digit surpluses.
After growing by 2.8 percent in 2021, GDP growth accelerate in the first half of 2022 to 10.5 percent thanks to rising oil output and a recovery in domestic economic activity after the pandemic. Record oil exports have brought in record oil revenues for the government and pushed international reserves to their highest levels in more than two decades.
However, global inflation has partly passed through to consumers, negatively impacting consumption of the lower income deciles, and added to import costs and food security risks. While the Emergency Food Security and Development bill, provided some space for urgent expenditures in the absence of a ratified budget for 2022, investment projects and implementation of economic reforms were impacted by the delays in government formation.
Without deeper structural reforms and economic diversification, Iraq's extreme oil-dependence leaves it vulnerable to commodity price volatility. Despite several reform initiatives, Iraq remains one of the most oil-dependent countries in the world. High dependence on oil, procyclical fiscal policy and insufficient oil revenue management have left Iraq vulnerable to commodity price volatility. The private sector, mostly dominated by the poor and vulnerable segments of the workforce, remains largely informal and stunted.
Looking ahead, Iraq's economic outlook will be supported by persistent high oil prices, but global demand is expected to gradually weaken. GDP growth is forecast to accelerate to 8.7 percent in 2022 driven by strong oil GDP growth of 12 percent and stronger non-oil growth supported by non-oil industry and services activity. Growth is expected to gradually ease over the medium-term as oil production will be constrained by more sluggish global demand. With oil prices projected at over US$90 per barrel in 2022-24, strong oil export revenues are expected to keep fiscal and external accounts in significant surpluses.
Downside risks to the economic outlook relate to further weakening of global demand, insecurity and political instability, and renewed inflationary pressures. Rising food prices exacerbate pre-existing poverty trends and increase food security risks. Risks of social unrest would be compounded by any further erosion of purchasing power due to inflation, and continued electricity and water shortages.
Iraq's socio-economic vulnerabilities are further be amplified by intensifying climate change shocks both in physical (temperature rise, water scarcity, extreme events) and financial terms. Iraq's dependence on oil also leaves it vulnerable to new economic risks amid the global transition towards a decarbonized world that would gradually diminish oil's prominent role in fueling the global economy. The focus of mitigation measures should therefore be on bridging the supply-demand gaps while decarbonizing Iraq's energy value chain and managing the macro-fiscal implications of the transition to a low-carbon economy.
A new government was confirmed into office in October 2022, marking a new opportunity to implement reforms towards economic diversification, tackling longstanding structural challenges and addressing climate challenges. Crucially, Iraq's intertwined development and climate realities require an urgent call for adaptation and mitigation actions that can bring growth and productivity gains, accompanied by fiscal reforms and economic diversification that make these measures feasible and sustainable.
Click here to download the full report.
(Source: World Bank)
The controversy returns in Iraq
Hardly a year passes without a visit of an Iraqi prime minister to Jordan, or a Jordanian prime minister to Iraq, and each time the agenda is full of projects and similar wishes, and in the meantime the media is buzzing with optimistic analyzes of a more cooperative tomorrow, and with all those visits and wishes, which have become transient for prime ministers The level of trade exchange remained constant at its minimum limits, which did not exceed half a billion dollars in both directions, and the projects remained at the borders of meeting rooms and perhaps did not exceed the threshold of the tables on which they were signed, despite all the cases of optimism that accompany certain presidents and the states of pessimism and anxiety that accompany other presidents. This raises a legitimate question: what makes all these wishes and dreams captive on paper and meeting rooms, and never find their way into implementation workshops? The oil pipeline remained as it was, as well as the industrial zone, and the electrical interconnection project did not move much towards implementation, and the ambitious new Levant project between Jordan, Egypt and Iraq, with all its contents.
I participated in the discussion of most of the visits, and I was a guest on many Iraqi satellite channels, and I can conclude that there is a current well-established presence in Iraq, which does not wish and even stands against any improvement in Iraq's relations with its Arab brothers. This current, supported by Iran, occupies the Iraqi space with various issues. ; It starts with the looted Iraqi funds that are settled in Jordan or any other Arab country, and goes through the Iraqi opponents in those countries, and the injustice that the level of trade exchange tends to favor this or that country at the expense of Iraq, and with Jordan, for example, with every visit, these issues are raised and added to them Specific issues such as the handing over of named political opponents. Of course, all of these issues are raised only in the media and are not dealt with by Iraqi presidents, and this was confirmed by an informed source. Of course, this current spread on all satellite channels repeats these issues in the entirety of its discussions as if it took directions from one source for one goal. .
Summary of these discussions; This politically and media-savvy current puts any Iraqi prime minister in front of difficult choices, the content of which is that he practices treason when he agrees on projects with countries that are supposed, according to their belief, or according to what they want to portray, to steal Iraq and collude over its political system in an attempt to bring it down, so we find Iraqi presidents presenting A step and step back, although Iraq's interest is with its Arab brothers, but its decision in that is without formidable obstacles. Of course, those who incite against the Arab option for Iraq forget and even legitimize all Iranian thefts of Iraq's money, water, oil, beaches, and security, which drowned it in blood and civil strife, all of that. It can be accepted within the framework of an ideological hegemony of a religious nature that is formed by a current that wants to continue to take over Iraq and obstruct all its paths towards development and progress, and this will only be done by opening it up to everyone.
Therefore, the only option to disarm the media weapons of these people is to reveal the facts to the Iraqi public in full transparency without politeness or the use of diplomatic phrases of a deceitful nature, as no Iraqi prime minister can establish parallel relations with neighboring countries except by liberating them from the restrictions of these people. Are we ready to confront them with facts so that they stop their tampering with Iraq and the region at the same time? Or will we remain in the same fan, accompanied by wishes and projects that do not materialize? Because in short, the Arab region will not return to stability unless Iraq returns to it and its return to Iraq.
Al-Sudani meets with the Leader of the Islamic Revolution in Iran, Mr. Ali Khamenei
Khamenei to Al-Sudani: Iraq's progress and its attainment of its sublime and true status will benefit Iran
Another headline
Prime Minister Muhammad Shia Al-Sudani met, on Tuesday, with Iranian Supreme Leader Ali Khamenei.
And Iranian media reported that, "Khamenei received, today, Tuesday, the Prime Minister of Iraq, Muhammad Shia Al-Sudani, and the accompanying delegation."
The Iraqi Prime Minister, Muhammad Shia' al-Sudani, arrived this morning in Tehran at the head of a high-level delegation of political and economic officials.
Mandalawi calls for building a real economic partnership and a balanced relationship between Baghdad and Washington
Mr. Mohsen Al-Mandalawi, First Deputy Speaker of the House of Representatives, received in his office today, Tuesday (November 29, 2022), the US Ambassador to Iraq, Ms. Alina Romanowsky; To discuss a number of common files and issues.
During the meeting, they touched on the important agreements that bring the two countries together at various levels, and the desire to invest in them to build a balanced relationship and a real economic partnership that meets the interests of the two friendly peoples, and an emphasis on continuing coordination in the field of combating terrorism and extremism, as well as cooperation in the fields of armaments, health, environment and investment.
For her part, Ambassador Romanowski expressed her country's keenness to enhance cooperation with Iraq, and support it in restoring its effective role and important position in the Arab and regional spheres.
Bloomberg article
Before Bitcoin, Traders Dreamed of Dinars
Google search interest from the US for "Iraq dinar"
Google search interest from the US for "Iraq dinar"
Source: Google
Note: Numbers represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. A value of 50 means that the term is half as popular. A score of 0 means there was not enough data for this term.
Back in the 1990s, after the First Gulf War, there were effectively two Iraqs: A south controlled by Saddam, and a north that was essentially a Kurdish protectorate backed by a no-fly zone. As a result, the dinar branched into two paths. In the south, Saddam embarked on money-printing to prop up an economy struggling under sanctions. New banknotes bearing his image, called “Saddam” or “print” dinar, were produced locally to poor standard. Inflation soared to an average of 250% between 1991-1995 as the circulating money supply ballooned, former Bank of England boss Mervyn King noted in a 2004 speech.
In the north, where the new dinar didn’t circulate and where bank cash wasn’t expropriated by the Saddam regime, the old “Swiss” dinar — so-called because it was printed on plates manufactured in Switzerland – continued to be used. It lasted right up until Saddam’s fall, despite having no central bank or government giving it value.
Having two fiat currencies in the same country was obviously a surprising development. That the Swiss dinar kept going and rose in implied value relative to its sibling is maybe not so remarkable given the scale of currency mismanagement taking place in the south.
But the Swiss dinar didn’t just rise against the print dinar — it also saw a sharp appreciation against the US dollar, appreciating in value from 18 to the dollar in 2002 to 6 per dollar by the time Baghdad fell in 2003. This suggests two deeper political phenomena were being priced in: That the north-south separation would become more durable after the war, and that the Swiss dinar’s value would be protected by new credible institutions even after regime change. “In other words, the value of the Swiss dinar had everything to do with politics and nothing to do with the economic policies of the government issuing [it] because no such government existed,” said King.
The relevance for crypto is that faith in the long-term value of its multitude of tokens might depend on the existence of credible institutions, something it increasingly lacks. The frequently-flagged technological opportunities offered by virtual currencies — programmable money, smart
Whatever It Takes 2.0
Central bank digital currency projects are still mostly in the research stage
Source: CBDC Tracker/BCG
That in turn might require an outside seal of approval from the governments and central banks that crypto was created to disrupt. If crypto is to do more than serve the niche interests of anti-fiat enthusiasts or pump-and-dump traders, it might need to rely on the kind of settlement-coin experiments
To be sure, crypto aficionados might push a different explanation for the Swiss dinar’s development. The currency was relatively technologically superior as it was harder to counterfeit than its poor-quality sibling. And Bitcoin’s digital goldbugs might say that what made the Swiss dinar worth protecting was its development outside Saddam’s state control. Meanwhile, exchanges and startups are trying to concoct their own answers to the trust deficit — think Binance’s claims to supply audited “proof of reserves” — in a push for self-regulation to keep government authorities at bay.
But it’s highly unlikely that the word of an offshore company or auditor will make crypto trusted after debacles like FTX. The collective failure of due diligence by even sophisticated institutional investors in this space is maybe even more embarrassing than the Iraqi dinar scams pitched to unsuspecting consumers. If there’s one lesson from Iraq, it’s that credibility is more important than tech — a test crypto’s disciples keep failing.
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