The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers
The Iraqi Parliament voted, today, Saturday, to grant confidence to the Minister of Construction, Housing, Municipalities and Public Works, Bankin Abdullah Rikani, and to the Minister of Environment, Nizar Muhammad Saeed Amidi.
Shafaq News agency reporter said that the parliament held its session headed by Muhammad al-Halbousi, Speaker of Parliament, after the completion of the legal quorum, in the presence of 208 members.
A statement issued by the Media Department of the House of Representatives stated that an absolute majority voted to grant confidence to the two ministers, and thus the ministerial cabinet of the current federal government headed by Prime Minister Mohamed Shia Al-Sudani has been completed.
It is noteworthy that the House of Representatives had voted, at the end of last October, on the cabinet of the Sudanese, with the exception of the ministries of Environment, Construction and Housing, due to the differences that took place over the two positions by the two Kurdish parties (the Kurdistan Democratic Party and the Patriotic Union of Kurdistan).
The political agreements that preceded the formation of the government determined the share of the Kurdish component in four ministries, in addition to the position of the President of the Republic and the second deputy speaker of Parliament.
Thank you!
Al-Sudani's changes worry the US administration.. Strengthening the influence of the coordination framework and contradicting the balance
The changes made by Prime Minister Muhammad Shia al-Sudani raise the concern of international actors, especially Western ones and the American side, by excluding officials who count on former Prime Minister Mustafa al-Kadhimi and appointing personalities from within the coordination framework, which is a contradiction to al-Sudani’s approach seeking to achieve a balance between Tehran and Washington. According to Al-Sharq Al-Awsat newspaper.
The newspaper stated in a report followed by (Baghdad Today) that "during a record period, the Iraqi Prime Minister, Muhammad Shia'a al-Sudani, made unprecedented administrative changes, dismissing hundreds of officials in the security services, and appointing others from one political circle; the coordination framework."
He continued, "General Ahmed Abu Ragheef, the intelligence agent in the Interior Ministry, issued the names of dozens of officers who were dismissed, along with the commander of the Border Guard, the police agent, the Anti-Narcotics Agency, and dozens of leaders in the Federal Police," noting that "according to local media, the total changes What took place in the first month of the Sudanese government included more than 900 positions, in the interior, national security and intelligence, but sources close to the government say that dealing with these numbers involves political exaggeration.
He added, "Al-Sudani pledged, since he took office early last month, that his government's decisions would be under the umbrella of the law and the constitution, but the recent changes, and because of their large number at once, raise questions of a political nature in Iraqi public opinion," noting that "the recently dismissed security officials, They are affiliated with the former Prime Minister, Mustafa Al-Kazemi," noting that "reliable sources expect memorandums to be issued against a number of them, talking about deliberate cleansing operations within the government in favor of influential partisan parties within the coordination framework."
The newspaper quoted leaders of the League of the Righteous and the Islamic Dawa Party, as saying that "the coordination framework does not interfere in these decisions, but they talked about the need to correct government work by appointing competent personalities instead of others who committed legal, administrative and financial violations during the past two years."
And she added, "Persons from the coordination framework make various accusations against prominent officials in the Al-Kazemi government, but it is still in a media context, without the investigative authorities controlling the information and facts, and the situation is that the personalities appointed by the Al-Sudani government, as an alternative to the dismissed wholesale from their positions, were active In the governments of Nuri al-Maliki, Haider al-Abadi and Adil Abdul-Mahdi, and lost their positions during the term of al-Kazemi's term.
And she indicated that "the single partisan character of the officials appointed by Al-Sudani allowed political interpretations about the intention of the coordination framework to fully acquire the security and intelligence keys in the country, and it covers up this project by launching a fierce campaign against the previous government, and it does not seem that these changes are of concern to Western players in the region." Especially the Americans, according to leaders in the coordination framework, and in conjunction with regular and intensive visits to Ambassador Elena Romanowski, whose schedule was full of meetings in Baghdad, the latest of which was with the Iraqi Minister of Defense and Tehran's Ambassador Kazem Al Sadiq.
The newspaper concluded its report by saying that "despite his attempts to be a seasoned administrator, the Iraqi prime minister's governance mechanisms include political contradictions. At a time when he expresses his desire to restore balance between Washington and Tehran in Iraq, his government is gradually becoming a fulcrum for the influence of close Shiite forces." of the armed factions.
Kurdish politician: 140 regions prefer to remain under the federal umbrella because of Erbil's mistakes
Independent Kurdish politician Othman Khanaqini confirmed, on Saturday, that the areas of Article 140 prefer to remain under the federal umbrella due to the mistakes of the administration of the Kurdistan region of Iraq.
In an interview with Al-Maalouma, Khanaqini said, "The political conflicts in the Kurdistan region, the seizure of power, the emergence of the role of the ruling families in everything, and the deteriorating economic conditions are all reasons that put pressure on millions of Kurds, whether within the region or the 140 areas."
He added, "Support for Article 140 in the areas covered by Diyala and others has diminished in recent years by the Kurds, who realize that Erbil's mistakes are great, so it makes them support staying under the federal umbrella because it is the most appropriate decision for them to avoid economic crises and enter the labyrinths of party conflicts."
Khanqini pointed out that "the influential Kurdish forces are aware that the people are in a difficult situation and there is a significant drop in support for their political projects, including Article 140, so any actual application of the article may come up with surprises in the midst of the current situation."
Article 140 of the constitution provides for the determination of the administration of sprawling cities in several governorates through a public referendum to determine the opinions of the people, whether it is affiliated with the federal administration or by the Kurdistan region.
Parliament adjourns its session to next Monday
Today, Saturday, the House of Representatives decided to adjourn its session to next Monday.
The media department stated, in a statement received by (Baghdad Today), that "the House of Representatives adjourned its session to next Monday."
The House of Representatives had voted to give its confidence to Bankin Rikani, Minister of Construction, and Nizar Muhammad, Minister of Environment. While he finished during his first reading of five bills.
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Deputy: Not sending the budget before 6/12 threatens the disbursement of salaries
The representative of the Al-Fateh Alliance, Muhammad Al-Ziyadi, warned, on Saturday, against stopping the payment of salaries for the next year in the event that the budget was not sent to Parliament before the sixth of this month, indicating that the food security law specified the payment of salaries for this year only.
Al-Ziyadi said in a statement to Al-Maalouma, that "the delay in the next year's budget has become a matter of concern to everyone, and that the government has not yet revealed or announced the reason for the delay," noting that "the last and constitutional date for sending the budget to parliament is before the sixth of December."
Al-Ziyadi added, "The continued delay in sending the budget will stop paying salaries for the next month of the new year," noting that "the Food Security Law specified the payment of salaries for this year only."
An official source in the House of Representatives had previously reported that the government would send the 2023 budget law to Parliament next Thursday.
Parliamentary Finance explains how to determine the Kurdistan region's share of the budget
Today, Saturday, the Parliamentary Finance Committee clarified how to determine the share of the Kurdistan region from the financial budget law, while stressing that the project is currently in the Council of Ministers and we await its arrival in Parliament for a vote on it.
A member of the committee, Sajjad Salem, said in an interview with Al-Information Agency, that "the cabinet will approve the draft budget bill, and then it will be sent to the House of Representatives," stressing that "the law is currently on the table of Prime Minister Muhammad Shia'a Al-Sudani."
He added, "The share of the Kurdistan region will be determined according to the budget law and the draft that will be sent by the Council of Ministers, especially with regard to the region and the nature of the financial relationship."
A member of the Finance Committee explained, "The budget must be approved quickly, because the last period caused the suspension of important sectors due to the lack of a budget," noting that "the government is currently working with all its efforts to approve the budget within the Council of Ministers and send it to the House of Representatives."
And Salem said, "Currently, we do not know the timing of when it will reach Parliament for a vote on it, and when the government finishes completing its materials, it will reach the House of Representatives."
A member of the House of Representatives, Muhammad al-Ziyadi, had said, in an interview with Al-Maalouma, that “the House of Representatives worked and through its internal system extended the work of the second legislative term of the first year in order to work on approving the general budget,” noting that “it is imperative for The government sends the general budget before the sixth day of this month
Iran establishes a nuclear plant near the Iraqi border - Urgent
Today, Saturday, Iranian television announced the inauguration of the construction of a new nuclear power plant in the southwest of the country, near its border with Iraq.
Iranian television stated that the construction of the new Karun nuclear plant, which has a capacity of 300 megawatts, will take eight years and will cost about two billion dollars, noting that the station will be built in the oil-rich province of Ahvas near its western border with Iraq.
The opening ceremony of the construction site was attended by Mohammad Eslami, head of Iran's Civil Atomic Energy Organization, who first revealed plans to build the plant in Karun last April.
Iran has one nuclear power plant in the port of Bushehr in southern Iran, and it was commissioned in 2011 with the help of Russia, but it has many other underground nuclear facilities.
The announcement of the construction of Karun came less than two weeks after Iran announced the start of production of enriched uranium by 60% in the Fordow nuclear facility underground. This step is seen as an important step in the Iranian nuclear program.
Parliamentary Finance sends an invitation to the government regarding the budget: send it quickly
The Parliamentary Finance Committee called, on Saturday, Prime Minister Muhammad Shia’a Al-Sudani to send the draft financial budget law for the next year 2023 as quickly as possible.
Committee member Sajjad Salem said, in a statement to Al-Maalouma, that "sending the draft budget law for 2023 to the House of Representatives depends on the government's hand and the speed of its completion."
Salem added, "The budget must be approved quickly, because the last period caused the suspension of important sectors due to the lack of a budget," noting that "the government is currently working with all its efforts to approve the budget within the Council of Ministers and send it to the House of Representatives."
Salem pointed out that "there is no time limit for sending the budget law to the House of Representatives, but work is being done to send it as soon as possible."
Representative Jawad Al-Saadi made it clear, in a previous interview with Al-Maalouma Agency, that the biggest obstacle standing in the way of approving the general budget, indicating the formation of a committee from the Ministry of Finance and the relevant parliamentary committee to agree on a specific opinion.
The President of the Republic: Completing the vote on the cabinet is an important step towards enhancing the integrated government performance
The President of the Republic, Abdul Latif Jamal Rashid, affirmed that completing the vote on the cabinet is an important step towards enhancing the integrated government performance.
A presidential statement stated that the President of the Republic received, today, Saturday, at the Peace Palace in Baghdad, the Ministers of Environment, Nizar Muhammad Saeed, and the Minister of Construction, Housing, Municipalities, and Public Works, Bankin Rikani
. While the two ministers expressed their thanks and appreciation to the President for his good feelings.
And the President of the Republic stressed, according to the statement, that completing the vote on the cabinet is an important step towards enhancing the integrated government performance, pointing to the importance of concerted efforts at all levels in supporting the government to implement its program and achieve its desired goals, especially those directly related to the living and service conditions of citizens and meeting their necessary needs. And the adoption of effective measures to protect the environment and consolidate security and stability in the country.
The Iraqi Business Council and the International Monetary Mission discuss economic developments and issue a number of recommendations
The Iraqi Business Council in Amman discussed with the International Monetary Fund mission to Iraq, the most prominent local economic developments and expectations in Iraq, ways to develop the private sector and support the business environment.
During the meeting held at its headquarters in Amman, the Council presented many recommendations and proposals, centered on the need to address the issue of random employment, which is a burden on the Iraqi state budget, and to review the phenomenon of multiple salaries for employees.
According to a statement by the Council today, it was recommended that the Iraqi Financial Supervision Bureau supervise the work of all ministries, bodies and companies associated with them, and find long-term plans for the development of economic sectors and various infrastructures in Iraq, including the electricity sector.
The Council recommended the need to stabilize the exchange rate of the local Iraqi currency fluctuating between the central bank rate and the free market rate for exchange offices outside the central bank, opening qualified training centers for training and developing human resources, creating clear legislation for the energy sector, especially renewable energy, and setting up a correct mechanism for calculating tariffs and collection method.
The Council recommended activating the partnership between the private and public sectors and benefiting from the sustainable development programs for Iraq that were supported by international organizations, as those funds that were allocated to build a sustainable economy and implement the Iraqi private sector development strategy (2014 and 2030) were not employed within the time specified in the strategy to reach for true partnership between the two sectors.
It is noteworthy that the Iraqi Business Council in Amman was established in 2006, and it is a forum for businessmen to exchange views, ideas and business information, provide job opportunities through trade and social missions, and introduce existing investment opportunities in Jordan and Iraq.
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Crypto's Future Could Look Like Iraq's Past
Money, digital or fiat, depends on faith in the institutions that back it.
Not a store of value after all.
Photographer: Scott Nelson/Getty Images
The Iraqi dinar was ahead of its time. Years before Bitcoin was invented, American day traders were lured by the viral economic narrative that the Iraqi currency was a ticket to retirement riches following Saddam Hussein’s downfall. Economists and regulators warned it was a gamble, but punters still paid high fees to own an illiquid currency that some thought might just become the most valuable in the world. Instead, it was devalued by 20% in 2020.
The dinar is on economists’ minds again as the cryptocurrency market reels from its latest crash — with $2 trillion of value wiped off a market rife with fraud, theft and high-profile corporate collapses including FTX and BlockFi. The parallels aren’t just about laser-eyed speculation, but the dinar’s historical development as a medium of exchange. While optimists such as investor Bill Ackman see crypto making a comeback if the right technological use case comes along, Iraq’s experience suggests that the survival of any form of money depends more on faith in the institutions backing it.
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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