Will Iraq's oil sales turn from petro-dollars to petro-yuan?
this is in Iraq's news
Today, Wednesday, international agencies and newspapers revealed news of an Iraqi-Chinese agreement for trade exchange in the local currencies of the two countries.
And the Chinese newspaper Global Times said, quoting statements by Chinese officials, translated by (Baghdad Today), that “the Central Bank of Iraq agreed with the Chinese side, to pay the value of trade exchanges (including oil, which constitutes 90% of trade exchanges between the two countries) in Chinese yuan instead. on the US dollar," pointing out that "this will lead to an improvement in the status of the Iraqi dinar," but at "the expense of weakening Iraq's dollar reserves."
Reuters described this step as "the first of its kind in history", to "globalize the Chinese yuan and use it as a global alternative to the US dollar."
The Central Bank did not mention any news about the transfer of its oil sales from (the petro-dollar to the petro-yuan) until now.
The Iraqi Central Bank announces the second package of facilities to obtain foreign currency
Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency.
And the media office of the bank stated, in a statement received by (Baghdad Today), that "in addition to what was announced in the first package of facilities provided by the Central Bank to achieve stability in exchange rates."
He added that the second package will include the following:
1- The financing of foreign trade will be organized directly from China and in the Chinese yuan currency, through two options:
A) The first option: strengthening the balances of Iraqi banks that have accounts with Chinese banks in the Chinese Yuan currency.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the central bank to the final beneficiary in the Chinese yuan currency through our accounts with the Bank (JP Morgan) and the Development Bank in Singapore.
2- Facilities for financial transfers to the United States and Europe will be provided by the same mechanism later.
3- The documents required for submission for the aforementioned external financial transfers will be: a commercial list (invoice) only, or initial documentary credit, provided that the customer later provides the bank with proof of entry of the goods.
4- Detailed instructions will be issued that include the aforementioned.
5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through Class A exchange companies through an Iraqi bank with one settlement account for all those companies.
6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7,500) dollars per month through the agents of money transfer companies (Western Union and Money Gram) at the official rate (1320) dinars / dollars, and the Central Bank strengthens the accounts of these agents through a window Buying and selling foreign currency.
7- A table will be published containing the names of authorized agents and their locations, and citizens who wish to transfer personal amounts for various uses (such as family subsidies or simple commercial uses) will be able to go directly to these agents (banks, exchange companies, or any other entities licensed by the Central Bank or It will be licensed later), for transfer at an exchange rate of (1320) dinars / dollars.
8- New uses will be added for the sale of cash dollars, which contributes to expanding the sale base for citizens to facilitate the payment of their obligations in US dollars, and in a manner that does not contradict our generalizations, and the directives issued by the government previously in this regard.
9- Allowing government and private banks and exchange companies of categories A and B to expand outlets for selling dollar cash in any of their branches, provided that this is exclusively through the FITR platform, while notifying us of the need to increase and diversify the geographical distribution of these outlets.
The Central Bank announces the second package of facilities to obtain foreign currency
1- The financing of foreign trade will be organized directly from China and in the Chinese yuan currency, through two options:
b) The second option: strengthening the balances of Iraqi banks through the accounts of the central bank to the final beneficiary in the Chinese yuan currency through our accounts with the Bank (JP Morgan) and the Development Bank in Singapore.
2- Facilities for financial transfers to the United States and Europe will be provided by the same mechanism later.
3- The documents required for submission for the aforementioned external financial transfers will be: a commercial list (invoice) only, or initial documentary credit, provided that the customer later provides the bank with proof of entry of the goods.
4- Detailed instructions will be issued that include the aforementioned.
5- Organizing financial settlements for agents of money transfer companies (Western Union and Money Gram) through Class A exchange companies through an Iraqi bank with one settlement account for all of those companies.
6- Citizens can transfer the amounts allowed to be transferred up to a maximum of ( 7500 ) dollars per month through the agents of money transfer companies (Western Union and Money Gram) at the official rate ( 1320) .) dinars/dollars, and the Central Bank consolidates the accounts of these agents through the window for buying and selling foreign currency.
7- A table will be published containing the names of authorized agents and their locations, and citizens who wish to transfer personal amounts for various uses (such as family subsidies or simple commercial uses) will be able to go directly to these agents (banks, exchange companies, or any other entities licensed by the Central Bank or It will be licensed later), for transfer at an exchange rate of ( 1320 ) dinars / dollars.
8- New uses will be added for the sale of cash dollars, which contributes to expanding the sale base for citizens to facilitate the payment of their obligations in US dollars, and in a manner that does not contradict our generalizations, and the directives previously issued by the government in this regard.
9- Allowing government and private banks and exchange companies of categories A and B to expand outlets for selling dollar cash in any of their branches, provided that this is exclusively through the FITR platform, while notifying us of the need to increase and diversify the geographical distribution of these outlets.
China confirms the agreement with the Iraqi Central Bank to pay the value of exchanges in yuan
International agencies and newspapers revealed news of an Iraqi-Chinese agreement for trade exchange in the local currencies of the two countries.
The Chinese newspaper Global Times said, quoting statements by Chinese officials, that "the Central Bank of Iraq agreed with the Chinese side, to pay the value of trade exchanges (including oil, which constitutes 90% of trade exchanges between the two countries) in Chinese yuan instead of the US dollar," pointing out He added, "This will lead to an improvement in the status of the Iraqi dinar," but at "the expense of weakening Iraq's stock of dollars."
Reuters described this step as "the first of its kind in history", to "globalize the Chinese yuan and use it as a global alternative to the US dollar."
The Central Bank did not mention any news about converting its oil sales from (the petro-dollar to the petro-yuan) until now.
According to Mehr news agency , the Iranian foreign minister met with the Iraqi president during his official visit to Baghdad and discussed bilateral relations with him.
In this meeting, Amir Abdollahian stressed the need to develop bilateral relations between the Islamic Republic of Iran and the Republic of Iraq.
Issues related to Iranian financial demands, border security, activities of Iranian companies in Iraq, and dredging of the Arvand river were among the other issues raised in this meeting.
In turn, the Iraqi president thanked his Iranian counterpart, Mr. Ibrahim Raisi, for his invitation to visit Tehran, and considered the relations between Iran and Iraq a complete and deep relationship, stressing his country's will to develop these relations in all fields.
Rashid stressed: "Iraq and Iran are two neighboring countries, with historical relations and common bonds, as they can contribute to strengthening security and stability in the region, and encouraging reliance on dialogue and calm to solve problems in regional and international issues, pointing out that the consolidation of security requires the cooperation of all countries in the region."
The media office of the Presidency of the Republic in Iraq stated that Abd al-Latif Rashid had received an official invitation from the Iranian President to visit the Islamic Republic of Iran.
Iraqi Foreign Minister: The agreement between Iran and the United States is important for Iraq
The Iraqi Foreign Minister, Fouad Hussein, stressed the need for Iran and the United States to reach a joint agreement, and for an urgent return to the Vienna talks.
Fuad Hussein added, during a press conference with his Iranian counterpart, Hussein Amir Abdullahian, in Baghdad, "We discussed regional and international issues and the results of our visit to Washington, related to the Iranian side, and the Iraqi constitution prohibits the use of Iraqi lands to attack neighboring countries," noting that the Iraqi government A number of measures have been taken to protect the borders with Iran.
For his part, Iranian Foreign Minister Hossein Amir Abdollahian affirmed Iran's respect for Iraq's sovereignty and its support for it in enhancing its security and stability, pointing to the common denominators that unite the Iraqi and Iranian peoples.
Abdullahian added that Baghdad has taken important measures to prevent the use of its lands by "terrorists", and stressed Tehran's continuation in its efforts to develop its relations with Baghdad, describing the relationship between his country and Iraq, saying: "We are one people in two independent geography."
And Abdullahian continued, "We also reached an agreement on the need to expedite the resolution of the investigation file of the assassination of Quds Force commander Qassem Soleimani."
Abdollahian stressed that Iran welcomes diplomacy and dialogue in resolving the nuclear file, returning to the procedures of joint talks with Washington, and reaching a strong, sustainable and stable formula in this file, noting that "American officials make contradictory statements in this regard."
He continued, "We look forward to raising the level of relations with Egypt and Saudi Arabia, and we thank Iraq for its role in promoting cooperation and dialogue between Iran and Saudi Arabia."
It is noteworthy that the Iranian Foreign Minister arrived in Baghdad, on a two-day official visit, during which he will meet with the three presidencies, the Iraqi National Security Adviser, and his counterpart, Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, to discuss bilateral relations between the two countries at all levels, and ways to introduce dialogue to enhance aspects of Joint cooperation, in a way that enhances the security and stability of the region and reflects positively on the two peoples.
Over the past two years, Iraq has hosted several rounds of dialogue between Iran and Saudi Arabia, in an effort to resume relations between the two countries.
Diplomatic relations were severed between Tehran and Riyadh in 2016 following the attack on the Saudi diplomatic missions in Iran by some protesters against Riyadh's execution of the famous Shiite scholar Nimr al-Nimra.
In recent months, the Saudi and Iranian sides have expressed their desire to resolve the differences between them, but Iran has pointed the finger at Saudi Arabia, following the recent outbreak of unrest in Tehran, as a result of the death of the Kurdish young woman, Mahsa Amini.
Popular discontent with the instability of the exchange rate, and fingers pointing towards speculators
The greed of merchants and speculators and the refusal of money changers to sell dollars to citizens at the official rates are the most prominent reasons behind the continued rise in the dollar exchange rates by more than twenty points.
Al-Maliki: I do not wish to run again for the position of Prime Minister of Iraq, because the position of prime minister is enough for me for 8 years
link yeah right!
The most important thing that came in the speech of Nouri al-Maliki:
The audio leaks are “fabricated,” and some of them are unacceptable to reason and logic, especially with regard to the crowd.
– I do not wish to run again for the position of Prime Minister of Iraq, because the position of prime minister is enough for me for 8 years.
Weapons must be confined to the hands of the state, and the armed parties must surrender their weapons in the best way, or the government must use force to disarm and confine them to the hands of the state only.
– Participation in the previous elections was less than required and perhaps less than the internationally approved percentage, and it may have been less than 20%, and this was a “catastrophe.”
Foreign Minister: Iranian dues were part of the discussions in Washington
Iraqi Foreign Minister Fuad Hussein and Iranian Foreign Minister Hussein Amir Abdollahian discussed today, Wednesday, a range of issues of concern to the two countries, including border security and railway connectivity.
Hussein said during a joint press conference with his Iranian counterpart, "We discussed with the Iranian foreign minister a set of issues of concern to the two countries, and the security and border situation are part of the talks," noting that "the Iraqi government has taken a set of measures to protect the borders with Iran."
He explained, "The Iraqi constitution prohibits the use of Iraqi lands to attack neighboring countries," pointing to "addressing Iranian dues related to the purchase of gas, especially since Iranian dues were part of the talks in Washington."
He added, "There are steps in the file of the railway linkage, and regional and international issues and the results of the visit to Washington related to the Iranian side were discussed," noting that "reaching understandings between Iran and America is important for Iraq."
For his part, Iranian Foreign Minister Hossein Amir Abdollahian said:
He explained, "Iraq's strength and progress is part of Iran's strength and security," pointing out that "important discussions were held within the framework of the joint security committee between Iraq and Iran, and we support strengthening Iraq's security and sovereignty in its confrontation with terrorists."
He continued, "The Iraqi government is determined that Iraq will not be a springboard for threatening neighboring countries, and efforts are continuing within the framework of developing Iranian relations with Iraq," praising "Iraqi efforts to enhance dialogue between Tehran and Riyadh."
Sudanese advisor: Central Bank reserves are subject to guidelines regarding diversification between currencies
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Wednesday, that the reserves of the Central Bank are subject to the guidelines regarding the issue of diversifying them between currencies.
Saleh said in an interview with "Al-Iqtisad News", "The dinar was not fixedly linked except to the United States dollar, but the central bank's reserves are subject to guiding evidence in the matter of diversifying them between currencies."
He added, "One of the components of diversification is the Chinese yuan, which helps finance direct trade between Iraq and China in the yuan currency or in the currency of the dollar itself, as there is no difference in terms of the value of import payments, and this is what was stipulated in the second package of external transfer instructions launched by the Central Bank of Iraq." Today morning".
It is noteworthy that the Central Bank of Iraq announced, earlier today, Wednesday, the second package of facilities to obtain foreign currency.
In addition to what was announced in the first package of facilities provided by the Central Bank to achieve stability in exchange rates, the second package will include the following:
1- The financing of foreign trade will be organized directly from China and in the Chinese yuan currency, through two options:
A) The first option: strengthening the balances of Iraqi banks that have accounts with Chinese banks in the Chinese Yuan currency.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the central bank to the final beneficiary in the Chinese yuan currency through our accounts with the Bank (JP Morgan) and the Development Bank in Singapore.
2- Facilities for financial transfers to the United States and Europe will be provided by the same mechanism later.
3- The documents required for submission for the aforementioned external financial transfers will be: a commercial list (invoice) only, or initial documentary credit, provided that the customer later provides the bank with proof of entry of the goods.
4- Detailed instructions will be issued that include the aforementioned.
5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through Class A exchange companies through an Iraqi bank with one settlement account for all those companies.
6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7,500) dollars per month through the agents of money transfer companies (Western Union and Money Gram) at the official rate (1320) dinars / dollars, and the Central Bank strengthens the accounts of these agents through a window Buying and selling foreign currency.
7- A table will be published containing the names of authorized agents and their locations, and citizens who wish to transfer personal amounts for various uses (such as family subsidies or simple commercial uses) will be able to go directly to these agents (banks, exchange companies, or any other entities licensed by the Central Bank or It will be licensed later), for transfer at an exchange rate of (1320) dinars / dollars.
8- New uses will be added for the sale of cash dollars, which contributes to expanding the sale base for citizens to facilitate the payment of their obligations in US dollars, and in a manner that does not contradict our generalizations, and the directives issued by the government previously in this regard.
9- Allowing government and private banks and exchange companies of categories A and B to expand outlets for selling dollar cash in any of their branches, provided that this is exclusively through the FITR platform, while notifying us of the need to increase and diversify the geographical distribution of these outlets.
Iran wants a new round of talks for the Joint Higher Committee with Iraq
The Iranian Foreign Minister, Hussein Amir Abdollahian confirmed, on Wednesday, his country's desire to hold a new round of talks for the Joint Supreme Committee with Iraq.
The media office of the Prime Minister, Muhammad Shia' al-Sudani, stated that he had received the Iranian minister and his accompanying delegation. During the meeting, they discussed bilateral relations between the two countries, a number of regional and international issues of common concern, and an emphasis on strengthening prospects for cooperation in the security, economic and cultural fields.
Al-Sudani affirmed the Iraqi government's keenness to maintain the best relations with the Islamic Republic of Iran, and the desire to consolidate cooperation and partnership in various fields.
The Iranian minister conveyed the greetings of the President of the Islamic Republic of Iran, Ibrahim Raisi, to Al-Sudani, and his affirmation of the depth of brotherly relations between the two neighboring countries.
Abdullahian expressed his country's aspiration to hold a new round of talks for the joint higher committee between the two sides, and the Iranian government's commitment to everything that would contribute to Iraq's progress and prosperity.
The Minister of Interior chairs a meeting on easing the burden on citizens and lifting checkpoints inside Baghdad
The Minister of Interior, Abd al-Amir al-Shammari, chaired today, Wednesday, a meeting that included the Baghdad Operations Commander, the Rusafa and Karkh police chiefs, directors of intelligence agencies, and the Director of Checkpoints and External Roads Affairs, regarding easing the burden on citizens and lifting checkpoints inside the capital, Baghdad.
The minister stressed, according to a statement by the ministry, "the need to work according to the plans drawn up in strengthening the accurate intelligence effort, and raising capabilities in line with the next stage while ensuring the security and stability of the capital, Baghdad , reiterating assurances on finding the best ways to ensure the smooth flow of street movement by lifting checkpoints and strengthening the presence of traffic policemen."
Details of the Sudanese meeting with the Iranian foreign minister
Today, Wednesday, the Prime Minister, Muhammad Shia Al-Sudani, received the Iranian Foreign Minister, Hussein Amir Abdullahian, and his accompanying delegation.
A statement by the media office of the Prime Minister, of which (Baghdad Today) received a copy, said, "Al-Sudani received Abdullahian to discuss bilateral relations between the two countries, discuss a number of regional and international issues of common concern, and emphasize enhancing prospects for cooperation in the security, economic and cultural fields."
The statement added, "Al-Sudani stressed, during the meeting, the Iraqi government's keenness to maintain the best relations with Iran, and the desire to consolidate cooperation and partnership in various fields."
For his part, the Iranian minister conveyed "the greetings of the President of the Islamic Republic of Iran, Ebrahim Raisi, to the Prime Minister," and his emphasis on "the depth of brotherly relations between the two neighboring countries," expressing "his country's aspiration to hold a new round of talks for the joint supreme committee between the two sides." And the commitment of the Iranian government to everything that would contribute to the progress and prosperity of Iraq.
Iraq adopts the "yuan" in its foreign trade with China
Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency, including reliance on the yuan currency to organize financing foreign trade from China.
And the media office of the Central Bank stated in a statement received by Al-Maalouma Agency, that, “in addition to what was announced in the first package of facilities provided by the Central Bank to achieve stability in exchange rates.”
He added, "The second package includes organizing the financing of foreign trade from China directly and in the Chinese yuan currency through two options: a) The first option: strengthening the balances of Iraqi banks that have accounts with Chinese banks in the Chinese yuan currency.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the final beneficiary in the Chinese yuan currency through our accounts with the Bank (JP Morgan) and the Development Bank in Singapore.
Attempting to return.. Al-Maliki's coalition identifies two reasons behind Al-Kazemi's visit to Iran
Today, Wednesday, the State of Law Coalition identified two reasons behind the visit of the former Prime Minister, Mustafa Al-Kazemi, to Iran, before the visit of its Foreign Minister to Baghdad, while confirming that Al-Kazemi is trying to enter the Iraqi political process again.
The leader of the coalition, Kazem Al-Haidari, said, in an interview with Al-Maalouma Agency, that "Al-Kazemi's visit to Iran before the visit of Foreign Minister Amir Hussein Abdullahian to Iraq is due to two main files," noting that "the first axis is that he tried to play the role of mediator between Iran and America and is still This file is stuck in Al-Kazemi's memory.
He added, "As for the internal aspect, Al-Kadhimi wants to form a political bloc, enter the upcoming elections, and try to smooth the atmosphere between the countries affecting the Iraqi political equation, including Iran."
The leader of Maliki's coalition said, "The former prime minister expects his visit to be like this, and he still sees himself as the man with the greatest fortune in the political equation."
And Al-Haidari stated, "Al-Kazemi is trying to present himself as a ready and acceptable alternative to the Prime Minister, Muhammad Shia'a Al-Sudani, in the event that he decides to withdraw himself for any reason."
The former Prime Minister, Mustafa Al-Kazemi, had visited the Islamic Republic of Iran and met with Foreign Minister Amir Hussein Abdullahian before his visit to Baghdad.
American Institute: The United States is putting pressure on Iraq economically
A report by the American Atlantic Council Institute confirmed that the American pressure on Iraq to implement the financial measures of the Federal Bank related to the external payments of the Central Bank of Iraq had a detrimental effect on the daily currency selling quantities window known as the dollar auction.
The report, which was translated by the information agency, stated that "the decline in the dollar auction as a result of US pressure against the continued high demand for the US dollar led to an imbalance in supply and demand, and thus to a decrease in the price of the Iraqi dinar against the US dollar, as this ignited a storm of controversy."
He added, "The US Federal Bank, under the pretext of smuggling dollars, restricted Iraq's use of its oil revenues, but the Iraqi government and the Iraqi Central Bank then introduced a series of measures to create local demand for the Iraqi dinar and accelerate the adoption of banking services in the economy - which are decisive measures to remove the dollar from the economy and accelerate its development." Far from the dominance of criticism.
And the report indicated that "the devaluation of the Iraqi currency against the dollar, which leads to increases in local prices by amplifying the effects of the upcoming expansionary budget of the government, and moreover, it will have significant long-term effects on the financial situation of Iraq, which may lead to an exacerbation of structural imbalances, and thus exposure to external shocks.
The report stated that “US federal treasury measures, unlike the old ones, require the central bank to fully disclose details of cross-border payments, including those of the final beneficiary and sender, before the payment takes place. The Central Bank of Iraq in US dollars.
And he stated, "The 63 percent decrease in average daily transfer volumes - consisting of wire transfers and letters of credit - was only the result of most wire transfers being rejected by the new procedural requirements of the US Treasury."
The report pointed to three main important factors to get rid of this process, which are the modernization of outdated bureaucratic, paper-based government processes; increasing the adoption of banking in the economy by accelerating its development away from the dominance of cash; And strengthening new government measures to remove the dollar from the economy.”
Masrour Barzani: We will never give up our constitutional dues and are ready for any cooperation with Baghdad
The Prime Minister of Kurdistan Region, Masrour Barzani confirmed, on Wednesday, that the region will never give up its constitutional rights and entitlements, and while expressing readiness for any coordination and cooperation with the federal government to solve outstanding problems, he warned that failure to solve them would harm the interest of all Iraqis.
This came during his presidency of the weekly meeting of the Kurdistan Region Council of Ministers, in which he discussed a number of files included in its agenda, according to a statement received by Shafaq News Agency.
n the first paragraph of the agenda of the meeting, the Prime Minister presented a summary of the results of the participation of the Kurdistan Regional Government delegation and its meetings at the World Government Summit in Dubai, UAE, and its meetings and meetings with senior Emirati and international officials, as well as its visit to France and its meeting with the President of the Republic and senior French officials.
The Prime Minister and members of the delegation indicated that those two countries welcomed the delegation of the regional government at the highest levels, which indicates the important and well-established status of the Kurdistan Region and the development of its diplomatic path within the international community.
The Prime Minister stated that the meetings focused on ways to strengthen relations between the Kurdistan Region, the Emirates, France and countries of the world, in addition to discussing the latest developments, developments and general conditions in Iraq and the region.
The second paragraph of the agenda was devoted to presenting the results of the visit of the high-ranking negotiating delegation of the Kurdistan Regional Government to Baghdad and its meetings with the federal government delegation on February 19, regarding the draft federal oil and gas law, which was presented by the Minister of Finance and Economy, Awat Sheikh Janab, and members of the delegation.
The Prime Minister praised the delegation of the region, stressing that the Kurdistan Region has always supported a radical solution to the problems with the federal government through dialogue and negotiation and on the basis of the constitution. in the interest of all Iraqi citizens.
The Prime Minister also reaffirmed that the Kurdistan Region will never give up its constitutional rights and entitlements.
The Council of Ministers decided to visit the Kurdistan Region team specialized in the draft federal budget and oil and gas bills Baghdad tomorrow, Thursday, to move forward with the discussions in order to complete the final steps regarding determining the share of the Kurdistan Region from the federal budget, as well as discussing preparations related to the draft federal oil and gas law.
In the third and final paragraph of the agenda, the Minister of Construction and Housing, Dana Abdul Karim, presented a draft law (public roads in the Kurdistan Region).
The draft law aims to protect the safety of public road elements and put an end to tampering with and transgression, in addition to defining prohibitions on public roads.
After discussions and deliberations, it was decided to conduct an extensive research on the draft law with the aim of preparing it for the upcoming meetings of the Council of Ministers, and then ratifying it and referring it to the Kurdistan Parliament.
The Kurdistan government enumerates the "advantages" of the presence of its leaders in international forums and seeks to strengthen its diplomacy globally
Today, Wednesday, the Kurdistan Regional Government revealed all the "benefits" at the various levels that the Kurdistan Region obtains from the visits of the heads of the region and the government to the countries of the world, most notably the "Global Summit of Governments" that was recently held in the UAE, and it showed the specificity of the relationship with France She stressed that the leaders of the region are warmly received in any country and forum, while striving to improve these relations.
The Relations and Media Department of the regional government said, in a statement received by Shafaq News Agency, "The Prime Minister expressed his desire to strengthen relations with the countries of the world and find foreign markets for Kurdistan's local products, during his recent participation in the World Government Summit in Dubai and his meeting with a number of influential figures in the fields." global political and economic.
The department added that "the Prime Minister met in Paris, the French President and senior French officials, reaffirming the message of the Kurdistan Regional Government to improve relations, and during his visit he also urged businessmen and owners of companies to visit the Kurdistan Region and implement investment projects in it."
Regarding the KRG's steps to consolidate and strengthen diplomatic relations with the countries of the world and the prime minister's participation in the Dubai summit in the Emirates and then his visit to France, the head of the Department of Foreign Relations, Sven Dziye, explained that "this forum has been held in the UAE for the tenth year, and in recent years the KRG has received invitations To participate in it, especially since this type of forum, which is attended by countries of the world, important centers, and politically and economically influential personalities, sheds light on experiences and improving the performance of governments.
Diziy added: "The participation of the Kurdistan Regional Government and the Prime Minister was based on an official invitation from the United Arab Emirates, and the Prime Minister participated in the conference, and then held several bilateral meetings. The Prime Minister also held a series of meetings with Emirati officials, and he also met Many leaders and international companies working in the field of investment, and the meetings focused on the situation in the Kurdistan Region and the relationship between Erbil and Baghdad, as well as the relations between the Kurdistan Region and the international community, as well as economic development, protection of food security and promotion of food products, which the UAE attaches great importance to.
The Kurdish official continued by saying, "Those countries can help the Kurdistan Region regarding ways of investing in the production sector, raising the ceiling of food production and developing this sector, especially since the countries of the world view the Kurdistan Region at the present time as a food producer, especially fruits exported abroad, especially Gulf countries, and this can be strengthened and expanded in terms of quality and quality, as the Emirati private sector is ready to invest in the Kurdistan Region, especially in natural foods. Politically, the Prime Minister held talks with many Emirati presidents and politicians and other countries.
Visit of the Prime Minister of the Territory to France
Regarding the visit of the President of the Regional Government to France, Sven Dziye explained, "The visit of the President of the Kurdistan Regional Government to France took place at the official invitation of French President Emmanuel Macron, and as you know, Iraq and the Kurdistan Region have an important place for France, as the history of relations between the Kurdistan Region and France dates back to the sixties last century, and in the 1980s France helped the Kurdistan Region in a humanitarian way, especially Mrs. Daniel Mitterrand, and in 1991, France played a pivotal role in protecting the Kurdistan Region and the safe haven, France also supported the Kurdistan Region’s endeavors and steps in international relations, and it can play a good role in bringing between Erbil and Baghdad.
He added, "We saw France's role clearly when a siege and military attack was imposed on the Kurdistan Region after October 16, as the then Prime Minister of the Kurdistan Region, Nechirvan Barzani, invited France to enter the line to calm the situation and solve problems, and today France wants to have a major role in Iraq, where the Baghdad meeting was a French initiative.
And the head of the Department of Foreign Relations stated that "in addition to the deep bilateral relations between the Kurdistan Region and France, as well as the war on ISIS, France had a remarkable role within the framework of the international coalition, as the Prime Minister discussed with Macron the threat of terrorism and the situation in the Kurdistan Region and assessed the current situation. He also met the President Ministers in the French Senate to discuss the challenges facing the Kurdistan Region and the situation in the region and support the French government's program related to supporting the Kurdistan Region.
The Kurdish official pointed out that "the third meeting was with the Mayor of Paris, where the two sides discussed the relations between Paris and Erbil, as Paris and Erbil are twins, and the last meeting was with a number of French companies and investors in the French Center for Investment and Trade. The Prime Minister of the Kurdistan Region touched on the situation The economy in the two regions and the opportunities that French investors can invest," noting that "these investors have expressed their willingness to visit the Kurdistan Region in the future, to see closely the opportunities available to them, and then make their decision, and these meetings are definitely an important opportunity for the Kurdistan Region, and I am pleased to welcome the leaders of the Kurdistan Region at the highest levels.”
Support of the Senate for the Kurdistan Region
Regarding the support of the Senate, the head of the Department of Foreign Relations explained: "Without a doubt, in the democratic world, any government that has a project needs legislation, and legal institutions must support it. In the past, there was a need to support legal institutions with regard to sending forces to Iraq and the region Kurdistan, so if we, as a government, get the support of legal institutions, then this represents important support for their government's programs, and we want to work on the Yazidi genocide file in these important institutions, so the support of the Senate is very important to us.
Exporting Kurdistan products
Regarding obtaining a license to export the local products of the Kurdistan Region to European countries, Safin Diziyi said: "We want to diversify the economy of the Kurdistan Region and protect food security, especially natural foods. There is great competition from foreign countries, and a lot of foodstuffs are sent to world markets, and some of these foods are produced quickly." However, organic and natural food is better. It may be somewhat less and more expensive, but the demand for it is increasing. Therefore, there are attempts to make the Kurdistan Region’s food natural and organic. There is a great demand for Kurdistani products that have been exported to the Gulf recently, and in this regard, we asked France for help with Permission to send the products of the Kurdistan Region to the markets of the European Union, because they have a standard for their products, and they must be produced according to this standard, and if we obtain a permit in terms of health and quality, we can send our products to European countries.In the prime minister's office, there is a team specialized in this matter, and we asked countries to help us in this regard.
Where did the Kurdistan Region reach in terms of diplomacy?
Diziyi explained, "The Kurdistan Region has reached a good level in terms of diplomacy, but we seek to strengthen that, and we have many aspirations. In 1991, not all countries entered the line of suffering experienced by the Kurdistan Region, and this stems from the interests of those countries at the time, and since 1991 Until 2003, because of the blockade, the situation of Iraq deteriorated, relations were established with them, and after 2003, based on the Iraqi law and constitution, the Kurdistan Region was granted the right to establish relations with the countries of the world, and for this we want to compensate for the past period by increasing our representations in the countries, and increasing the number of diplomatic envoys to the region Kurdistan".
He added, "If we compare a region like the Kurdistan Region, we will see that our leaders are received at the highest levels in Washington, Berlin, London, the Vatican, France, Ankara, Canada, and other countries and capitals, and at the same time they participate in Kurdistan's seminars and conferences. The president of the Kurdistan Regional Government is in the Gulf and France, and the president of the Kurdistan Region At the Munich conference, which means that our relations are at a high level, and they receive our leaders warmly, but we look forward in the department of foreign relations to elevate these relations to the highest levels.
US Ambassador "Excited" at Growth Opportunities in Iraq
Remarks for the Ambassador's Keynote Speech at the Iraq Oil and Gas Show
Saturday, February 18, 10:45 a.m. (Babylon Rotana Hotel)
I have recently returned from Washington, D.C. where we had the privilege of hosting Foreign Minister Fuad Hussein and his 15-member delegation. This visit was historic. It was the first Higher Coordinating Committee that was focused on economic cooperation, energy sector development, and climate change.
In Washington, the Foreign Minister and Prime Minister Sudani's advisors laid out a plan to diversify Iraq's economy from being more than just an oil exporting country to a country with vibrant private industries, where the private sector is the main engine of economic growth.
In addition to the meetings with Secretary of State Blinken and other senior government officials, the Foreign Minister's delegation met with the U.S. Chamber of Commerce and about 40 U.S. companies inviting them to play a role in Iraq's economic development, including in growing Iraq's nascent private sector. I came away from this trip confident in the strong and expanding relationship between Iraq and the United States, and excited for the opportunities to foster real growth in Iraq's economic future.
For Iraq to realize this bright future, Iraq must do at least three things: invest in critical infrastructure, combat corruption, and create a business environment that is favorable to foreign direct investment. By that I mean encouraging foreign companies to bring both their capital and their expertise to Iraq and where these investments generate jobs and companies train Iraqis to run their own businesses.
There is no place better to focus these opportunities than the energy sector, specifically the country's electricity grid and oil and gas field development, including gas capture. These areas capture both Iraq's greatest source of revenue and its greatest constraint on economic growth. We all know electricity demand will only grow and there is promising potential for investment and improvement.
I have spoken with the Minister of Oil, the Minister of Electricity, and the prime minister's new adviser on energy, all of whom have laid out a vision for modernizing the energy industry, and not just in the oil sector, but by capturing and using the vast amounts of gas in Iraq to help develop the electricity sector to meet the power demands of a growing economy.
The Biden Administration is encouraging U.S. energy companies-those already in Iraq and new ones, to explore opportunities in Iraq and where they could bring their world-class expertise and help generate jobs for Iraqis. On Thursday, General Electric and the Ministry of Electricity signed an MOU to develop the energy sector in production, transmission, maintenance, staff training, and reducing carbon emissions. And there is certainly more room for other companies.
Strengthening Iraq's energy sector will require significant investment. Gas capture plants will have to be built along with new power plants to use the additional gas. The electricity grid will have to be upgraded and modernized to make sure that the 50 percent of power that is currently lost in transportation due to theft and poor equipment can instead be harnessed to power Iraqi homes and businesses.
That is why energy infrastructure is an obvious place to start with investment. Iraq has a valuable pre-existing resource that has the potential to advantage not just Iraqi citizens, but the economy - especially since the lack of electricity is one of the largest constraints facing manufacturing and industry today.
In the gas field, Iraq has both a challenge and an opportunity. After Russia, Iraq is the highest emitter of flared gas in the world. This causes severe environmental problems. Capturing the gas that is currently flared would dramatically improve Iraq's climate, allowing Iraqis to breathe cleaner air, drink cleaner water, and suffer less from debilitating diseases such as cancer.
But capturing gas is also an economic opportunity. Most assessments conclude that if the amount of gas flared in Iraq today was processed in new electricity generating power plants, Iraq could double the total amount of its electricity production and meet the current shortages. By using captured gas to power electric generators, Iraq could dramatically increase the amount of electricity available to its people - as much as 3,500 MW of additional electricity, or an increase of 25 percent to the entire country's electrical grid.
To fully take advantage of developing the energy sector, we must also address the important challenge of corruption. The business environment must convince foreign companies that their investments are protected, and the regulatory climate is predictable, transparent, and honest. Also companies, especially those that are going to do business with the government, must know they will get paid on time. Unfortunately, this has been an issue in the past.
Finally, the bureaucracy itself must modernize, efficiently process contracts and projects, and streamline the process for companies, both foreign and domestic, to do business here. When companies compare opportunities to do business, they will almost invariably choose those with less risk and greater ease of doing business. In today's fast moving global economy, time matters to international investors.
So let me conclude by saying that modernizing Iraq's energy sector is key to Iraq's ability to become a secure, stable, sovereign country that can provide for its own people using its own vast natural resources.
In Washington last, the Biden Administration launched a new and expanded vision for Iraq focused on economic development. We are committed to working with the Sudani government to create new opportunities that strengthen the economic interests of both our countries and the region. American companies are ready to invest and participate in modernizing Iraq's energy sector to the benefit of Iraq's sovereignty and its environment and help build a more secure future for the Iraqi people.
We are continuing this conversation with Prime Minister Sudani and his team at the Munich Security Conference. We look forward to working with the Government of Iraq, the private sector (including other western companies), and directly with the Iraqi people to make this happen. Thank you.
The most prominent results of the Parliamentary Economic Committee meeting with the Governor of the Central Bank of Iraq, Ali Al-Alaq
link
Representative Soran Omar revealed, on Wednesday, the outcomes of the Parliamentary Economic Committee meeting with the Governor of the Central Bank of Iraq, Ali Al-Alaq.
Omar stated in a press statement that "the results of the meeting were as follows":
- Exchange companies should speed up their entry into the electronic system and merge five companies together to participate in receiving the dollar at the official rate.
For small businesses that need dollars or citizens for foreign remittances, the Western Union remittance company can be used, with which the central bank has signed an agreement.
On the results of the Central Bank's meetings with the United States, he (the governor) said: They focused on transfers, money laundering, and taking dollars. There was consensus on this new electronic system and they are monitoring the process.
Anyone exchanging dollars at the market value of any bank or exchange company must bring the receipt to the central bank.
It will take time for all merchants, companies and factories to enter the new electronic system, and then the difference in the dollar exchange rate in the central bank and the market will be controlled.
-Currently, 92 trillion dinars are available per month, and we did not allow money to be printed. Previously, 45 trillion dinars were available per month.
Gradually, when we control the export of dollars, we will increase the supply of dollars to the country.
We are trying to solve the problem of business taxes that are afraid to enter the electronic system.
Border crossings and customs represent a major problem in exporting dollars, and the government must solve the problem of border crossings and entry of goods.
- Iraq's reserves have reached 100 billion dollars, including 130 tons of gold and dollars.
- Regarding awareness of dollar money from selling oil, he said we do not know where and how it returns to Iraq in the Kurdistan Region and how it is spent, which affects the price of the dollar.
Residential projects registered as investments must submit their official documents to the central bank and enter the online platform to provide evidence that citizens owe money equal to the official dollar rate.
The Economic Committee hosts the Governor of the Central Bank to discuss the exchange rates of the dollar
The Parliamentary Economy, Industry and Investment Committee hosted, today, Wednesday, the Governor of the Central Bank, Ali Al-Alaq, to discuss the exchange rates of the dollar.
ur correspondent said, "The Parliamentary Economy, Industry and Investment Committee hosted the governor of the Central BankOn the relationshipto discuss the exchange rate of the dollar and the stability of the market.”
He added, “The committee also discussed the results of the Iraqi delegation’s visit toWashingtonIn addition to a number of other files.
Sources: The chances of Al-Sudani's visit to Washington are renewed, and US sanctions will affect the factions
link
Washington is re-evaluating the situation of the Iraqi government after the recent pledges it made to the United States, especially in the issue of stopping the smuggling of the dollar, and in light of this, the opportunity for Prime Minister Muhammad al-Sudani's visit to America has returned, but it may be preceded by new sanctions against some factions, according to Shiite sources who spoke to Al-Mada. .
The newspaper's report, which Nass followed (February 22, 2023), stated that the coordination framework that leads the government is trying to prevent any escalation against Washington, even describing it recently in a joint statement with the political forces as "friendly countries."
And only 4 months ago from now, the leaders of the "framework" were talking about a "violation of sovereignty" by the American forces in Iraq.
And about the secret of this coup, a Shiite official close to the coordination framework says: “The dollar crisis may be one of the most prominent factors that called for de-escalation with Washington.”
In the past three months, Washington imposed restrictions on the movement of the dollar, which threatened the continuation of the government and the street coup against it.
"The coordination framework agreed to establish balanced relations with all countries, including the United States," said the official in one of the Shiite parties, in an interview with the Iraqi newspaper.
"The recent changes have brought back the opportunity for the prime minister to go to Washington," said the official, who asked not to be named.
Finance Minister Fouad Hussein, who recently returned from an important round of negotiations in Washington, went instead of Al-Sudani, whose visit to the United States was highly anticipated last month.
According to what is being circulated in political circles, "the chances of Al-Sudani's visit to Washington may be linked to the imposition of new sanctions on factions linked to Iran, and that the United States is re-evaluating the government's pledges to control armed groups and smuggle dollars."
In the past three years, Washington has previously imposed sanctions on leaders in the coordination framework, such as Faleh al-Fayyad, head of the Mobilization Forces, and Qais al-Khazali, leader of the League and his brother.
These sanctions were considered one of the reasons that hindered the easing of US restrictions on the movement of the dollar, with the failure of the Prime Minister's visit to the United States.
Earlier, Ali Jabbar, a leader in the Sudanese party, the Euphrates Movement, said: "There is no Shiite party that supports the boycott with the United States."
In the last 6 months, which coincided with the retirement of Muqtada al-Sadr, the leader of the political movement, and the control of the coordination framework over parliament and then the formation of the government, the repeated attacks on the US embassy, airports and camps stopped.
In the past three years, factions, some of which are expected to be linked to the coordination framework, have carried out about 120 attacks with 300 missiles.
Since the formation of the government last October, the fiery statements of Shiite leaders known for their criticism of the United States have also receded.
Even the account of Abu Ali Al-Askari on Twitter, which presents itself as the spokesperson for Kata'ib Hezbollah, has recently become preoccupied with public issues and domestic politics.
Al-Askari no longer threatens the "dementia Biden" of the American president - as he used to describe him - or the "traitor" of the Iraqi prime minister who deals with Washington, which is the adjective that Al-Askari used to refer to Mustafa Al-Kazemi, the former prime minister.
Even Qais al-Khazali, the leader of the League, who was defending the legitimacy of what he describes as the "resistance," stopped this speech.
Khazali's last attack against the United States was last September, a month before al-Sudani assumed power, against the backdrop of accusations against Washington of killing a child in a shooting accident in the Abu Ghraib area, west of Baghdad.
At the time, the leader of Al-Asa'ib accused the United States of having a "military base" in Baghdad, describing it as a "violation of sovereignty."
Mithal Al-Alusi, leader of the Umma Party, considered that avoiding escalation with Washington was due to "the implementation of an Iranian agenda, for fear of exposing it to greater sanctions."
The restrictions on the circulation of the dollar in Iraq caused a crisis in Tehran, where the price of the Toman rose to record levels.
Friendly America!
The day before yesterday, a meeting of the State Administration Coalition, in which the coordination framework constitutes the cornerstone, described the United States as a "friendly country" during discussions on the results of the recent negotiations in Washington.
After the meeting, which took place at the home of the leader of the Wisdom Movement, Ammar al-Hakim, a statement said, "The coalition listened to the report of the government delegation that visited Washington."
The statement added, "The State Administration Coalition discussed the mechanisms of activating the strategic framework agreement between Iraq and Washington in a way that achieves the interests of the two friendly countries and peoples."
Al-Halbousi and the US ambassador are discussing the next steps to strengthen the partnership between the two countries
Parliament Speaker Muhammad Al-Halbousi received, today, Wednesday, the US Ambassador to Iraq, Alina Romanowski.
A statement from his office stated that the meeting "discussed the results of the recent visit of the official Iraqi delegation to Washington, and the next steps to strengthen the existing partnership between the two countries in various fields, including economic and security."
The meeting also discussed "the general situation in the country, and a number of issues of common interest."
Parliamentary Finance: We need 45 days to review the 2023 budget law
A member of the Parliamentary Finance Committee, Faisal Al-Naeli, announced, on Wednesday, that the House of Representatives needs 45 days to review and vote on the Federal Budget Law for the year 2023 before returning it to the government for approval.
Al-Naeli said, “We in the Parliamentary Finance Committee and the House of Representatives need a maximum of 45 days to read, discuss and make an amendment to some articles and paragraphs that need to be amended in the budget law.”
And that "all files and the exchange rate of the dollar in the general budget law have been settled, and the government will send the budget law to Parliament at the beginning of next month."
He added, "The government is serious about resolving and resolving all points of disagreement between the federal government and the Kurdistan Regional Government before sending the budget law to parliament."
Al-Nusairi: The Central Bank's electronic platform for external transfer is the beginning of the solution for banking reform and the stability of the exchange rate
Samir Al-Nusairi, advisor to the Association of Iraqi Private Banks, confirmed that the central bank's electronic platform for external transfer is the beginning of the solution for banking reform, and that bridging the gap between the official and parallel exchange rate actually begins with applying the instructions and controls of the external transfer platform, which were issued the day before yesterday by the Central Bank of Iraq, which are new instructions for external transfer for the year 2023 to licensed banks and based on Central Bank Law No. 56 of 2004 as amended.
Al-Nusairi said in an interview with "Al-Iqtisad News", that the instructions aim to strengthen the role of the banking system and non-bank financial institutions in securing foreign currency to the final beneficiaries and controlling its movement internally and externally, which leads to controlling and maintaining the stability of the exchange rate and adhering to the requirements of the law on combating money laundering and financing. Terrorism No. 39 of 2015, which included entry controls for the platform, transactions, entities allowed to be financed by law, procedures and obligations of banks that enter this platform, mechanisms, flexibility, facilities, and expansion of inclusiveness with the aim of allowing financing all economic, commercial and investment activities, and achieving legal interests related to funding citizens in dollars in buying and selling, treatment, study, and travel. .
He explained that the application of entry controls to the platform for the year 2023 confirms that Iraq is strictly committed to international standards by ensuring that the dollar reaches the final beneficiary, preserving Iraqi funds from foreign currency from illegal behavior, adhering to international compliance rules and international standards adopted within the global financial system, as well as adhering to the decisions of the international community. Related to international banking transactions, and this confirms that there is no going back because economic reforms cannot be fully carried out without reform starting first with the banking sector as modern banking systems, policies and contexts, and in accordance with internationally disciplined and monitored standards.
Pointing out that the Central Bank of Iraq aims mainly to achieve economic stability by achieving stability in the monetary system and the financial system through its programs and plans that aim to maintain stability in the exchange of the dinar against other foreign currencies, provided that it cooperates with the financial policy that must take into account financial discipline in addition to combating Economic crime and activities that violate local and international laws in force, such as financial crimes of all kinds, in addition to building sufficient foreign cash reserves to cover our local currency in circulation and control stable rates of inflation and interest rates.
Al-Nusairi urged the Iraqi media to be accurate and non-extremist economic and media analyzes of the reality of monetary stability in Iraq, and so as not to take expectations of media intimidation and create a state of fear among the public and the banking sector.
And he indicated that, through an insight into the state of the money circulation market from a neutral and transparent point of view, I am certain that the steps, procedures and balanced financing initiatives of the Central Bank and the availability of foreign cash reserves amount to more than 100 billion dollars on average, and with regard to what determines its adequacy to cover the monetary mass in circulation and to cover imports, the Central Bank He will make exceptional efforts in accordance with monetary policy applications, and he will preserve the real purchasing value of the dinar, its recovery, and the stability of the target rates of exchange rates in the short term.
Parliament discusses with the Minister of Electricity procedures for finding an alternative to Iranian gas
Today, Wednesday, the Parliamentary Electricity and Energy Committee discussed with the Minister of Electricity procedures for finding an alternative to Iranian gas, stressing the importance of establishing a clear mechanism for coordination between the committee and the ministry.
And the Parliament’s Media Department stated in a statement received by (Baghdad Today), that “the Parliamentary Electricity and Energy Committee, headed by Representative Muhammad Abd Rabbo and in the presence of its members, hosted the Minister of Electricity Ziyad Ali Fadel and the advanced staff in the ministry to see the details of the ministry’s work and discuss its investment and operational budget, and the ministry’s plan for summer 2023 and procedures taken in the preparation of transformers, poles and wires, the necessary preparations and the most prominent obstacles.
She stressed the importance of establishing a clear mechanism for communication and coordination between the committee and the ministry, noting that, during the hosting held at its headquarters, the committee discussed the results and outputs of the companies’ contracts in the previous stage, in terms of maintenance, production, and transportation, in addition to the details of the two memorandums of understanding with Siemens and General. Electric, as well as the Ministry's vision and the measures taken to bridge the shortfall in production.
The committee asked, according to the statement, about "the Ministry of Electricity's procedures to find an alternative to Iranian gas, the required financial allocations for the electricity sector for the coming years, and the mechanism for dividing the provinces' shares, and within the same province, without supply."
On the other hand, the statement indicated that "the committee discussed the issue of the relationship between the ministries of oil, interior, and defense, in terms of supplying oil to support projects, paying the amounts allocated by the Ministry of Electricity, the file of energy protection and lifting abuses, and ways to address bottlenecks to ensure the continuation of the work of electrical transformers." .
For his part, the Minister of Electricity affirmed that "there is progress in the energy file and the provision of services, with the need to increase production in order to bridge the shortfall in the production rate and improve the network."
He pointed to "the necessity of coordination with the ministries of finance and planning to reach the required results," noting that "the fuel supply file and associated gas investment were discussed, with an emphasis on having a clear vision and preparing a working paper in coordination with the Ministry of Oil to secure an adequate amount of fuel."
The statement pointed out that "the interventions of the committee members focused on the ministry's plan and the importance of developing the electricity sector and conducting a campaign to rehabilitate the transmission and distribution sector, and develop an appropriate plan to end the Iranian gas crisis, and import electricity in light of the need for it, in addition to the need to rationalize energy consumption, remove bottlenecks, and establish stations." investment, the installation of smart meters, the ministry's program in the direction of solar energy, and the activation of the collection service, as the committee requested to provide it with an official letter on the ministry's procedures in this regard.
He continued, "The committee decided to host the ministries of finance, planning, and oil, in coordination with the Oil and Natural Resources Committee, to follow up on files and find effective solutions, in addition to holding an expanded workshop on the law of the Ministry of Electricity and other issues."
The Iraqi president receives an official invitation to visit Iran
The President of the Republic, Abd al-Latif Jamal Rashid stressed, on Wednesday, the necessity of coordination and consultation on common issues between Iraq and Iran and facing the challenges of terrorism and extremism, while he received an official invitation to visit Tehran.
The media office of the Presidency of the Republic stated, in a statement received by Shafaq News agency, that the president received an official invitation from Iranian President Ibrahim Raisi to visit the Islamic Republic of Iran.
The media office stated that the President of the Republic received, at the Baghdad Palace, Iranian Foreign Minister Hossein Amir Abdollahian and his accompanying delegation, and promised to accept the visit invitation as soon as possible.
Rashid stressed that Iraq and Iran are neighboring countries and have historical relations and common bonds, as they can contribute to strengthening security and stability in the region, and encouraging reliance on dialogue and calm to solve problems in regional and international issues, pointing out that establishing security requires the cooperation of all countries in the region.
The President of the Republic referred to the need for coordination and consultation on issues of common interest in a way that serves the interests of the Iraqi and Iranian peoples and other peoples of the region, noting the importance of communication and exchanging views and ideas between officials of the two countries to face the challenges of terrorism and extremism.
Rashid praised the positions of the Islamic Republic and its standing by the Iraqi people in confronting the dictatorial policies of the former regime and supporting the Kurds after they were subjected to the Halabja and Anfal massacres and what followed in the war against the terrorist organizations of ISIS.
For his part, the Iranian Foreign Minister affirmed his country's position in support of Iraq's efforts to consolidate its security and stability, and its desire to strengthen joint relations between the two countries and perpetuate the bonds of the historical relationship between the two neighboring peoples in a way that serves cooperation and joint coordination.
The Iranian minister indicated that one of his country's concerns is confronting sandstorms, and Iran is expected to hold a ministerial conference next summer to discuss ways to confront sandstorms.
The Iraqi foreign minister reveals the results of his talks with Washington regarding the Iranian side
Today, Wednesday, Foreign Minister Fuad Hussein revealed the results of Iraq's talks with Washington regarding the Iranian side.
Hussein said in a joint press conference with his Iranian counterpart and his follower (Baghdad Today), that "they discussed regional and international issues and the results of our visit to Washington related to the Iranian side."
He added, "The issue of Iranian dues was part of our discussions in Washington," noting that "we hope Washington and Tehran will return to the Vienna talks."
Hussein continued, "The Iraqi constitution prohibits the use of Iraqi lands to attack neighboring countries," noting that "reaching understandings between Iran and America is important for Iraq."
He pointed out that "we touched on the Iranian dues related to the purchase of gas, in addition to the presence of steps in the file of the railway link."
The dollar crisis will not be solved." An expert comments on the second package of the Central Bank of Iraq
The expert in economic affairs, Nabil Jabbar Al-Tamimi, commented on Wednesday, on the launch of the Central Bank of Iraq, the second package of facilities to obtain foreign currency.
Earlier in the day, the Central Bank of Iraq launched the second package of facilities to obtain foreign currency from banks, which it said would ensure the organization of financing foreign trade from China directly and in the Chinese yuan currency.
In this regard, Al-Tamimi explained to Shafaq News agency, "The second package of the Central Bank of Iraq will not bring anything new from the first package, except for the issue of dealing in the Chinese yuan, and the rest of the same issues were raised in the first package, so until now the local Iraqi market is facing a problem in passing Remittances, especially small remittances for merchants.
He added, "The second package of the Central Bank of Iraq will not solve the crisis of the high exchange rate of the dollar in the local market, especially since this package will not bring anything new until it is a solution to this crisis, and the continued increase in sales of the central bank continuously with the increase in the amount of remittances bodes well, but This rise must remain continuous, and the survival of this rise may solve the dollar crisis during the next two months.
Al-Maliki confirms to Barzani the seriousness of the framework in implementing the promises they wrote to their Kurdish and Sunni partners
The head of the State of Law Coalition, Nuri al-Maliki, confirmed their seriousness in implementing the promises they made to their partners in the government from the Kurds and Sunnis, indicating at the same time that the dispute with the leader of the Sadrist movement, Muqtada al-Sadr, will end soon.
And the President of the Kurdistan Region, Nechirvan Barzani, had announced, in the framework of his participation in the Munich Security Conference in Germany, that “the formation of this government came as a result of the partnership between the Kurds, the Shiite party and the Sunni party, and we agreed on a platform, and we wrote that in writing and signed it.”
Nechirvan Barzani warned that "if the other parties do not want to abide by this agreement, then there will be no meaning for us Kurds to remain in this government."
On the other hand, the head of the State of Law Coalition, Nuri al-Maliki, reassured the President of the Kurdistan Region, Nechirvan Barzani, regarding the implementation of the “promises,” expressing his regret at “a major party in the government threatening to withdraw, especially since the government is still working on developing a coherent national budget that gives rights to its owners according to legal contexts”.
And he went on to say to Monte Carlo International, "The promises that we wrote we do not deny ... the absentees, the general amnesty, the balance in the administration of the state," stressing that "the government is serious and we are serious about its implementation and implementation."
He asked: “How old is the government? Three months. It inherited from the previous government a large number of problems and challenges, which are between implementing the new demands, and dealing with the remnants it inherited from the previous government.
Al-Maliki saw that “it is fair on the part of the partner brothers to give the government an opportunity, and we are with them in demanding implementation, because we are very keen, and when we prepare we will implement.”
Regarding the dispute with the leader of the Sadrist movement, Muqtada al-Sadr, dating back to 2008, al-Maliki said: “It will soon end. There is communication with the intention that this dispute will end by him and us.”
On the other hand, the head of the State of Law coalition denied that he had a desire to take over the premiership again.
In this regard, he said: “I have a desire to continue the political process and confront it, and support those who confront it. Whoever finds good in him, I support him and stand with him. Personally, I have no desire to save again.”
A dispute in Parliament over the share of the Kurdistan region is the reason for the delay in approving the 2023 budget
Representatives in the Parliamentary Finance Committee have already set 12% of the share for the Kurdistan Region in the general budget for the year 2023, provided that all its oil and non-oil revenues are handed over to the federal government, although the population of the Kurdistan Region constitutes 14% of the population of Iraq, according to estimates by the Iraqi Ministry of Planning.
The representative of the State of Law, Mueen Al-Kazemi, said: “The share of the Kurdistan Region in the 2023 budget about which discussions are taking place amounts to 12%,” noting that it is contingent on “clarity with the federal government regarding what is exported from the oil of Kirkuk, Erbil, Dohuk and Sulaymaniyah.” .
It is noteworthy that the delegation of the Kurdistan Region visited Baghdad 3 times this year, to determine the share of the Kurdistan Region in the budget and its financial dues, without reaching an agreement.
The delegation of the Kurdistan Regional Government returned from Baghdad, and the head of the Diwan of the Kurdistan Regional Council of Ministers announced that during their visit they discussed the oil and gas law with the Iraqi Ministry of Oil, and the general budget law with the relevant authorities, and that they will continue the dialogue until solutions to the outstanding problems between the two sides are reached.
In turn, a member of the Parliamentary Finance Committee, Nermin Maarouf, explained that "the share of the Kurdistan Region is a constitutional issue, according to Article 121 of the Iraqi constitution, which stipulates the allocation of a fair share for the Kurdistan Region and the provinces from the federal revenues."
And she indicated that this share is determined “according to the percentage of the population,” noting that she had asked the Federal Ministry of Planning in September 2022 regarding its estimates of the population of the Kurdistan Region.
In this context, she pointed out that she had received the response in an official letter in which the ministry confirms that “the population of the Kurdistan Region constitutes 14% of the population of Iraq.”
According to this ratio, if the budget ranges between 150-200 trillion dinars, the share of the Kurdistan Region will range between 21-28 trillion dinars.
Any agreement between Erbil and Baghdad on the share of the Kurdistan Region needs to be approved by Parliament within the budget law, and then a solid agreement between the two sides to send the share, which will amount to more than one billion dollars.
Iraq signs oil and gas deals with UAE's Crescent Petroleum, Chinese firms
BAGHDAD, Feb 21 (Reuters) - Iraq signed deals with UAE firm Crescent Petroleum and two Chinese companies on Tuesday for the development of six oil and gas fields as it seeks to produce much needed natural gas for power stations and cut imports burdening the country's budget.
United Arab Emirates-based Crescent Petroleum signed three 20-year contracts to develop oil and natural gas fields in Iraq's Basra and Diyala provinces in northeastern Baghdad.
The Crescent Petroleum contracts include the Gilabat-Qumar and Khashim fields in Diyala, which are expected to begin producing 250 million standard cubic feet per day of natural gas within 18 months, the company said.
Crescent Petroleum also plans to explore and develop Khider al-Mai, a third block in Basra province for oil and gas.
China’s Geo-Jade also signed two contracts for exploration and development rights to Iraq’s Huwaiza oilfield in the south and Naft Khana northeast of Baghdad, both near the Iranian border.
No comments:
Post a Comment