After 21 years of the dollar auction... Iraq is close to closing the window amid reassurances and warnings
The video for this blog post is below
Iraq is approaching the end of the closure of the dollar selling window at the Central Bank - which has been controversial - over the past two decades.
The Central Bank's management plans to gradually cancel the dollar auction during the year 2024, leading to its complete cancellation by the end of the year, and to maintain it for audit and statistical purposes, in an effort to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in order to achieve the sobriety of the Iraqi banking sector and full commitment. According to international standards and requirements.
Iraq relies on the platform for selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms for preserving the value of the Iraqi dinar and combating speculative operations in the parallel market.
The visit of Prime Minister Muhammad Shia Al-Sudani to Washington provided a strong impetus in closing the Central Bank window and moving towards direct commercial banking transactions.
According to the joint statement of the Iraqi-American discussions headed by Al-Sudani and President Joe Biden, the latter “discussed Iraq’s advanced efforts to reform the financial and banking sectors, which help link Iraq to the international economy and increase trade while protecting the Iraqi people from the harmful effects of corruption and money laundering, and what was achieved during the years 2023 and 2024.” “With banks in Iraq expanding (correspondent relationships) with international financial institutions to enable trade financing.”
The statement notes that "the majority of trade financing operations are now carried out through these channels."
Iraq and the United States pledged their commitment to "strengthen their cooperation to achieve greater transparency and cooperation against money laundering, terrorist financing, fraud, corruption, and sanctioned activities that could undermine the integrity of the financial systems in both countries."
The two countries expressed their commitment "to support the Central Bank of Iraq in ending the electronic auction platform for international financial transfers by the end of 2024, through direct dealing between licensed banks in Iraq and approved global correspondent banks, to achieve this transformation that will connect Iraqis and Iraqi companies to the international economic system."
In this regard, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed to {Al-Furat News} that the agreement of Iraq and the United States to end the electronic platform of the Central Bank of Iraq for selling the dollar at the official price means the cancellation and end of the foreign currency window that was established since 2003.
Saleh said, “It is not One of the functions of the central banks in the world is to carry out financing operations for foreign trade in their countries. Central banks are banks that work on monetary stability as they are banks that issue the national currency, as well as the function of supervising banking activity and ensuring its safety and stability.
He added, "But Iraq's rentier conditions, and because of the foreign cash flows entering the country through which foreign exchange reserves originating from oil export revenues are created, such a necessity was imposed in financing foreign trade for the private sector through the establishment of the foreign currency window (auction) a month ago." October 2003, during which this window played a dual role in the work of the Central Bank of Iraq’s monetary policy, both in controlling local liquidity levels (monetary sterilization) and the so-called open market process, which requires exchanging the dinar for the dollar for the purposes of external transfer related to financing domestic trade. In addition to achieving the goal of controlling the stability of the Iraqi dinar exchange rate at the same time.”
Saleh noted that, “In order to return to the principles of financing trade through the commercial banks themselves directly by opening documentary credits with correspondent banks abroad, their external accounts opened with their correspondents from foreign banks will be fed with their requests for foreign currency through the Central Bank of Iraq in order to enable them to... Opening documentary credits to finance foreign trade to the private sector in a more transparent manner and at the same time subject to international compliance rules through the role that these international banks with high credit ratings will play.”
He explained, "What practically means canceling the auction or the foreign currency window that was established in October 2003 and its expected lifespan was two years, but unfortunately it continued for more than twenty years!"
He continued, "Based on the above, the efficiency of using foreign currency will undoubtedly increase through continued control of local liquidity levels and the imposition of stability in the Iraqi dinar exchange rate, but in a different way that is consistent with the new banking applications fully approved in the year 2024."
On the other hand, specialists warn against stopping the platform for selling the dollar, especially with the continuing delay in Iraqi banking systems and the failure to activate Iraqi commercial banks’ dealings with international banks, because this will lead to a monetary disaster that will ravage the Iraqi market.
But Abdul Rahman Al-Mashhadani, the economic expert, downplayed the seriousness of these warnings.
He told {Al-Furat News}, "The subject of the agreement with the American side does not mean that the currency auction will end, but rather it will return to work according to the old mechanism for enhancing balances. However, the Iraqi banks that will be entitled to external transfer must be linked to solid correspondent banks."
He stated, "The mechanism will not change. Rather, the Iraqi Bank will be transformed into a correspondent bank, and its balance will be enhanced by the Central Bank."
Al-Mashhadani ruled out, "The exchange rates in the markets were affected because they are not directly related to these matters. Rather, the decline and rise are due to trade with the sanctioned countries, for which there are no solutions because they are financed from the parallel market, and without solving them, there cannot be stability in exchange rates."
Another economic expert believes it is necessary to tighten control to prevent the "leakage" of the dollar.
Bassem Jamil Antoine told {Al-Furat News}, “When the dollar crisis is addressed scientifically, economically, and financially, there will be a floatation of the currency through supply and demand, so that the citizen will obtain the quantities of dollars to the extent he wants, as the scarcity is now in the dinar and not in the dollar from which it is received.” On a daily basis, no less than 300 to 400 million dollars.”
He stated, "This process goes to the financial stability of the country, as the import is through correspondent banks that transfer money amounts, and this process requires follow-up, time, and knowing the fate of the money."
Antoine explained that "the process of floating the currency must be under conditions, and Iraq differs from other countries because its financial imports in dollars are very large, and there must be control over the process, stopping the leakage of the dollar, and not leaving it floating under the freedom of speculators. There will be difficulty in achieving balance, and this matter needs a rule." Productivity away from imports, creating job opportunities and ending unemployment, and this process requires more time and strict oversight to stop the currency auction, which has greatly destroyed the country,” he said.
The United States grants the Iranian Foreign Minister an entry visa to visit Washington
Late Monday evening (April 15, 2024), the American newspaper Free Beacon revealed that the US State Department had issued an “entry visa” to Iranian Foreign Minister Hossein Amir Abdel Hayyan to visit Washington, just days after Iran carried out a major attack on Israel.
The newspaper said, according to what was translated by (Baghdad Today), that its own sources revealed to it that the US State Department had issued an entry visa to Haiyan amid “dissatisfaction” with some American politicians who sent letters to US President Joe Biden demanding that he cancel the entry visa.
She stated, “The US State Department refused to comment on granting an entry visa to the Iranian Foreign Minister,” explaining, “According to the State Department’s statements, it does not have the right to comment or reveal records of granting official entry visas to the United States,” according to its description.
Free Begin suggested that the issuance of the visa was intended to allow the Iranian Foreign Minister to participate in the United Nations meeting this week, while indicating that there were “other reasons” that may include the discussion with the Iranian Minister about the recent developments in the region and the escalating tension with Israel following the threats it issued. Tel Aviv responded to the Iranian attack that occurred on the thirteenth of this month.
Al-Sudani did not address America’s withdrawal in the Biden meeting.. Government spokesman: The discussion is not military
On Monday, Bassem Al-Awadi, the government spokesman, justified Prime Minister Muhammad Shiaa Al-Sudani’s failure to address specific results related to ending the presence of American forces in Iraq, during his conversation with US President Joe Biden, by saying that the visit is not military, but rather broader and more comprehensive than that, indicating Until the strategic framework agreement is activated, it will be presented in the form of pen heads in the meeting of senior leaders, while the Prime Minister reiterated that the two parties are waiting for the estimates of the joint military committee that is responsible for assessing the security situation in Iraq, and which has been working for about 6 months.
https://www.youtube.com/watch?
Government advisor: Bank structuring decisions are a precursor to comprehensive economic reform
Saleh said {to Al-Furat News} that: “The decisions to restructure government banks by dividing or merging are within the framework of the reform policy pursued by the Prime Minister, which he finds in raising the competitiveness and efficiency of government banks as an introduction to comprehensive economic reform.”
He added, "It must start with government financing institutions that dominate 85% of banking activity in our country today and face regulatory obstacles inherited from previous eras that were riddled with bureaucracy, monopoly of banking business, and loss of efficiency."
Saleh added, "The path to economic reform begins with financial and banking reform."
Last January, the Council of Ministers approved the banking reform plan and approved the following:
1- Direct contracting with Ernst & Young; To study the issue of restructuring the Rafidain and Rasheed banks, present its recommendations regarding them, and propose a road map in this regard, within 6 months.
2- Direct contracting from the Industrial Bank with the company (Ernst & Young); To study the issue of merging banks (industrial, real estate, agricultural) into one bank from its specialized experts, provide the appropriate recommendation regarding it, and determine the time period required for the merger and the mechanism for transferring balances to the new bank.
3-Direct contracting from the National Insurance Company with Ernst & Young; To study the issue of merging the National Insurance Company with the Iraqi Insurance Company, into one company from its experts and specialists, and provide the appropriate recommendation regarding it, and determine the time period required for the merger and the mechanism for transferring its funds to a new company, as an exception to the instructions for implementing government contracts (2 of 2014), and the controls issued According to it.
The door of the White House is open to the Sudanese... entering an “important stage” and a will to untie a “difficult knot”
Before the end of Biden's term, and in the midst of a tense situation ravaging the Middle East in general, Prime Minister Muhammad Shiaa Al-Sudani is in Washington in response to an official invitation from the White House on a trip that requires a skilled political player who is good at moving to reap tangible gains that Iraq is anticipating.
Iraqi politicians have always differed in their interpretation of American intentions, and others may not have liked the performance of successive prime ministers and the way they dealt with the United States, but this time they were unanimous in the importance of the visit and the transformation it could produce in the file of foreign relations.
Accordingly, the head of the New Generation Parliamentary Bloc, Sarwa Ad al-Wahid, said that the visit now being made by Prime Minister Muhammad Shia al-Sudani to the American capital, Washington, came at an important time, expecting that it would bring about a transition to a “new stage” in bilateral relations.
Abdul Wahed said in a blog post that Mail viewed, “The Prime Minister’s visit to the United States of America comes at an important time, and will be a transition towards a new phase of relations, especially since the visit is evidence of the Iraqi desire to build a sustainable strategic partnership based on mutual respect.” .
She added, "The files that will be discussed, whether economic, security, or political, must certainly benefit Iraq and have a role in the recovery of the economy and the return of stability to the dinar price."
As for the State of Law coalition, led by Nouri al-Maliki, he confirmed that the meeting between Prime Minister Muhammad Shia al-Sudani and US President Joe Biden is becoming increasingly important in conjunction with the security escalation in the Middle East, while he indicated that America needs Iraq’s role in the region and will provide “many facilitations.”
The representative of the coalition, Alia Nassif, said in a blog post on the “X” platform, which “Mail” viewed, that “many have bet on the failure of the meeting between Prime Minister Muhammad Shiaa Al-Sudani and President Biden, while the importance of this meeting is increasing in conjunction with the security escalation that the region is witnessing.” And the pivotal role that Iraq can play, which will make the United States need this role and be ready to provide many facilities for it.”
Nassif added, "We are also anticipating the signing of contracts with major American companies and discussing a number of economic files and ways to bring in foreign investments."
For his part, Member of the House of Representatives, Bahaa El-Din Al-Nouri, expressed his hope that the visit of Prime Minister Muhammad Shiaa Al-Sudani, to the American capital, Washington, will enhance efforts to confront the challenges in the region.
Al-Nouri said in a blog post on the “X” platform, which Mail viewed, “We look forward to positive results that will be reflected on the people from the Prime Minister’s visit to Washington by enhancing exchange and cooperation in various fields.”
Al-Nouri expressed his hope that “the visit will enhance joint efforts to confront the challenges plaguing the region.”
Iraqi politician Izzat Al-Shabandar, in turn, confirmed that Prime Minister Muhammad Shiaa Al-Sudani is a “national choice” that was not imposed by an external will to administer government in Iraq.
Al-Shabandar wrote a blog post on the “X” platform, which Mail viewed, saying that “with his (waiting) and his certain eagerness to respond to the invitation of US President Joe Biden to visit Washington, the latter is committing a serious mistake if it demands of him the covenants that his (disappointed) predecessor made to her.” .
Al-Shabandar continued, “President Muhammad Shiaa al-Sudani is a purely Iraqi national choice, not imposed by external will, neither Eastern nor Western, and the interest of Iraq and its people is above all else.”
The Patriotic Union of Kurdistan also expressed its confidence in the seriousness of Prime Minister Muhammad Shia al-Sudani in creating a balance in Iraq's foreign policy, expressing its hope that his visit to Washington will achieve success in the highest interest of the state.
The union’s spokeswoman, Representative Suzanne Mansour, said: “We feel the seriousness of Muhammad Shiaa Al-Sudani to create a balance in Iraq’s foreign policy, including the interest of the state on the political, economic, and security levels.”
Mansour added: "We look forward to achieving success in the highest interest of the Iraqi state in his visit to the United States of America."
The Al-Azm Alliance believed that the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington would end a controversial reality in Iraqi-American relations and establish a “new era.”
Representative from the coalition, Mahmoud Hussein Al-Qaisi, said, “The Prime Minister’s visit to Washington ends a controversial reality in American-Iraqi relations, and establishes a new era of bilateral relations based on respect for Iraq’s rights and sovereignty.”
Al-Qaisi added, "There is no doubt that it will reflect positively on the economy, energy, and security in Iraq."
Al-Sudani speaks to the community in Washington about Iraq's recovery and the government's achievements
“The country needs your expertise.”
Today, Monday, Prime Minister Muhammad Shiaa Al-Sudani met with the Iraqi community in Washington and other American states, and spoke about the government’s achievements in reforming institutions. He also stressed Iraq’s need for the expertise of its people abroad.
Al-Sudani’s office statement:
The Prime Minister, Mr. Muhammad Shiaa Al-Sudani, met with the Iraqi community in Washington and other American states, on the sidelines of his official visit to the United States of America.
His Excellency expressed his pride and appreciation for the Iraqi communities in the United States and the rest of the world, and stressed that Iraq is for all Iraqis, and the country needs the expertise, experiences, opportunities, and initiatives of Iraqi figures in America.
Mr. Al-Sudani announced work on a study to establish a department for expatriate affairs. In order to achieve effective communication with Iraqi communities in the world, the government is looking for competencies away from quotas.
The following are the highlights of what the Prime Minister spoke during his meeting with the Iraqi community in the United States of America:
Our visit to the United States is important; To clarify our vision about the shape of the relationship with America.
America granted Iraq preferences in customs exemptions, and a memorandum was signed with financing institutions worth $5 billion, all of which is not activated within the strategic framework agreement.
Iraq today is different from what it was in 2014. Because ISIS no longer poses a threat to Iraq.
We want to move to bilateral relations with the countries of the international coalition after the victory over ISIS, similar to the countries of the region, including security relations.
The first meeting of the founding committee stipulated in the framework agreement will be held, and there will be periodic meetings of this committee.
Iraq today is witnessing unprecedented recovery, stability, security, real development, and tangible services throughout Iraq.
The government's first step was to reform regulatory institutions, and our anti-corruption measures are professional and not vindictive.
We recovered a lot of money from people wanted in corruption cases who held other nationalities, and some of the wanted persons voluntarily surrendered themselves to the judiciary.
Signing contracts with Total, the fifth round, and the national effort will enable Iraq to achieve gas self-sufficiency within 3-5 years.
We have started with projects related to refineries, and 2024 will be the last year for importing petroleum derivatives.
Iran is a neighboring country with which we have common interests, and America is a strategic ally and our relationship with it is important.
The relationship with Iran and the United States is an advantage for Iraq, and can be used to reduce tension, and this is what happened in all crises in the region.
The US Treasury recorded observations on the work of banks in previous years, and not during the current government that adopted the electronic platform.
We activated the industrial and agricultural sectors, and idle factories were restarted, such as fertilizer, iron and steel production plants.
The basis of economic advancement is the belief in the role of the private sector, which has been supported by the government.
The development road and Al-Faw port projects will create a new Iraq.
The development road is the least expensive and fastest project for transporting goods, and its first principles will be signed during the Turkish President’s visit soon.
Al-Sudani begins his visit to Washington by meeting with the Iraqi community: Your country is different today
Al-Sudani begins his visit to Washington by meeting with the Iraqi community: Your country is different today
Al-Sudani expressed his pride and appreciation for the Iraqi communities in the United States and the rest of the world, and stressed that Iraq is for all Iraqis, and the country needs the expertise, experiences, opportunities, and initiatives of Iraqi figures in America.
Al-Sudani announced work on a study to establish a department for expatriate affairs. In order to achieve effective communication with Iraqi communities in the world, the government is looking for competencies away from quotas.
The following are the highlights of what the Prime Minister spoke during his meeting with the Iraqi community in the United States:
Our visit to the United States is important. To clarify our vision about the shape of the relationship with America.
America granted Iraq preferences in customs exemptions, and a memorandum was signed with financing institutions worth $5 billion, all of which are not activated within the Strategic Framework Agreement.
Iraq today is different from what it was in 2014; Because ISIS no longer poses a threat to Iraq.
We want to move to bilateral relations with the countries of the international coalition after the victory over ISIS, similar to the countries of the region, including security relations.
The first meeting of the founding committee stipulated in the framework agreement will be held, and there will be periodic meetings of this committee.
Today, Iraq is witnessing unprecedented recovery, stability, security, real development, and tangible services throughout Iraq.
The government's first step was to reform regulatory institutions, and our measures in combating corruption are professional and not vindictive.
We recovered a lot of money from people wanted in corruption cases who held other nationalities, and some of the wanted persons voluntarily surrendered themselves to the judiciary.
Signing contracts with Total, the fifth round, and the national effort will enable Iraq to achieve gas self-sufficiency within 3-5 years.
We have started projects related to refineries, and 2024 will be the last year for importing petroleum derivatives.
Iran is a neighboring country with which we have common interests. America is a strategic ally and our relationship with it is important.
The relationship with Iran and the United States is an advantage for Iraq, and can be used to reduce tension, and this is what happened in all crises in the region.
The US Treasury recorded observations on the work of banks in previous years, and not during the current government that adopted the electronic platform.
We activated the industrial and agricultural sectors, and idle factories were operated, such as fertilizer, iron and steel production factories.
The basis of economic advancement is belief in the role of the private sector, which has been supported by the government.
The Development Road and Al-Faw Port projects will create a new Iraq.
The least expensive and fastest project development route for transporting goods, the first principles of which will be signed during the Turkish President’s visit soon.
The visit to Washington is 100% technical and will witness the signing of contracts with major companies - Sudanese Advisor
"Different from its predecessors"
Nasser Al-Asadi, Advisor to the Prime Minister for Transport Affairs, confirmed on Monday that the visit conducted by the Prime Minister and his accompanying delegation to the United States is 100% technical, and it differs from all visits of previous prime ministers, indicating that it will witness the signing of contracts with major companies.
Al-Asadi said in an interview with the official agency, followed by the 964 Network , that “the Prime Minister’s visit to Washington is very important and different from all the visits of previous prime ministers to the United States, as it was always concerned with issues of security, the army, and military movements, but this visit is a technical visit 100 %, and will address the topics of health, education, energy, transportation, services, and various industries, pharmaceutical, construction, mechanical, and food, in addition to the presence of a program included in the visit that specializes in democratic pluralism in Iraq, which is represented by population pluralism and the categories of Iraqi society, its components, and their needs,” stressing that “the importance of the visit comes from these topics.” Which is always discussed internally and never discussed externally.”
He added, "Relations with the United States of America are not just security, army, and military relations. There is global expertise possessed by the United States that can be transferred to Iraq, especially in the fields of aviation and transportation management, tourism management, and banking in insurance companies."
He pointed out that “America is a large country with huge global capabilities and expertise, and Iraq needs to develop the aviation sector in terms of examiners, civil aviation systems, training of pilots and staff in Iraqi Airlines and the Civil Aviation Authority in Iraqi airports, as well as the method of managing Iraqi airports, and therefore it is necessary Transferring this experience and benefiting from it due to our strong relationship with the United States.”
He pointed out that “there are new sectors that have entered the Iraqi market, including the metro transportation sector and the public transportation sector by using multiple methods, and therefore the technology present in the United States must be transferred to Iraq in a modern and advanced manner, and benefit from it through training and developing the relationship with the means of transportation in The United States,” noting that “this is done through transferring technology to Iraq and then managing it and investing in the field of transportation to manage the transportation sector in Iraq.”
He continued: “We had a meeting with the private sector in Iraq, and there are meetings tomorrow and the day after tomorrow with the American private sector, and there must be interaction between the two sectors in order to build an economic revolution inside Iraq,” stressing “the necessity of turning to the private sector and developing it to help the government in Speed up the work".
He noted that “the government proposed the Baghdad Metro project for investment, and thus involved the private sector in this process, especially since the private sector is the one that develops the country and has the upper hand in expanding investment, and therefore the government must help the private sector and open opportunities for it.”
He pointed out that “hundreds of American companies have contacted the Iraqi embassy for the purpose of meeting with the Prime Minister, in addition to contracts that will be signed with large companies in the United States,” adding: “Now we are heading, through our embassy and the commercial attaché, to open opportunities for American companies to invest in Iraq through the Iraqi private sector.”
He stressed “the necessity of building a partnership between these sectors to develop the banking sector in Iraq, as no investor can enter Iraq with a weak banking sector, so a large space has been allocated to discuss this sector, in addition to insurance companies and intellectual property protection, for the advancement of Iraq.” To the investable countries platform.
He stressed that “the Prime Minister’s visit to Washington, and his intention to expand meetings with multiple groups within the American investment sector, will open a big door for the Iraqi private sector, and we have given the opportunity and priority to develop the important service sectors in the country, including pharmaceutical, construction, and food industries that contribute to developing the economic base in the country.” It provides great job opportunities for Iraqi youth who are currently unemployed.”
He concluded by saying: “The importance of this visit is that it is not an ordinary visit, but rather a 100 percent purely economic and technical visit that opens the way for all Iraqi and non-Iraqi sectors to develop the country economically.”
Allawi: The Prime Minister’s dialogues with the US Treasury will address the government’s steps in financial reform
Advisor to Prime Minister Hussein Allawi confirmed that Prime Minister Muhammad Shiaa Al-Sudani will discuss, during his current visit to Washington, financial reforms and investment opportunities, including the path to development as a global strategic project.
Allawi said, in a televised statement followed by “Al-Eqtisad News,” that “the Prime Minister put on the special agenda of his visit to Washington the meeting with American companies to explain the position of the Iraqi government, the path of economic and financial reform, and improving indicators of the investment and economic environment that the Prime Minister worked on for more than a year.” And a half."
He added, "The visit will also address the government's efforts to improve the economic environment and present areas of investment in the field of clean energy, as well as the promising project of the Iraqi state in the field of petrochemicals through the Iraqi Development Fund, which will present many projects and targets partners and investors to participate in them."
He continued, "The Prime Minister is establishing a new path, which is the path of peace and building development, as well as presenting the path of development and presenting its paths and the economic model to the American government as well as American companies and the discussion about this major strategic project, which is not only linked to Iraq or the region, but rather to the world."
He pointed out that "the Prime Minister also worked on a strategic file related to financial reform and allocated an economic, financial and banking team that worked with him day and night during the past months and succeeded in developing a road map for government banks. He also succeeded in governing the management of foreign exchange and its movement inside Iraq in cooperation with the Central Bank of Iraq and in cooperation." With the Ministry of Finance and government and private banks, this will therefore be discussed in dialogues with the US Treasury Department to clarify the position and steps of the Iraqi government in the field of financial reform on the one hand and the upcoming reform steps, which are large packages launched from time to time.”
Today's news April 16 2024
A security breach committed by the Iraqi delegation in Washington... “leaking important information.”
Security expert, Saif Raad, confirmed today, Monday, that disclosing the location of the Iraqi delegation and the residence of Prime Minister Muhammad Shia al-Sudani in Washington constitutes a security breach by leaking important information.
Raad told “Jarida,” “Government delegations are not usually called a delegation if they do not include intelligence personnel responsible for providing protection for the delegation, but in the Iraqi delegation visiting Washington, headed by Prime Minister Muhammad Shiaa al-Sudani, it does not include an intelligence official.”
He added, “Every delegation, whether military, security, cultural, technical, or economic, must include a security official, and this may be at the protocol level or at the diplomatic level. Whatever the delegation, one of its members must be an intelligence official.”
He continued, “Also, the location of the Iraqi delegation should not be disclosed, as these are considered security issues, and explaining this in detail, which was spoken by a member of the delegation on social media, is considered a security breach.”
He explained, “Iraqi officials do not have a security culture, and this is not limited to the Iraqi delegation in Washington. Rather, all delegations are like this, which requires a re-review and giving the intelligence service its role in accompanying government delegations to address such issues.”
The Pentagon announces a deal with Iraq
The ministry added in a statement that the training and support applies to the Iraqi fleet of C-172 and AC/RC-208 aircraft.
She added that the main contractor will be Northrop Grumman.
Prime Minister Muhammad Shiaa Al-Sudani heads a large Iraqi delegation that began a visit to the American capital, Washington, on Sunday, which includes meetings with American officials in Washington that will last several days, including President Joe Biden, Secretary of State Anthony Blinken, and Secretary of Defense Lloyd Austin.
During his meeting with US Secretary of Defense Lloyd Austin yesterday, Monday, in Washington, DC, Al-Sudani stressed Iraq’s interest in obtaining expertise and weapons from the United States, and expressed his country’s keenness on the security partnership.
America provides a loan worth $50 million to support small and medium enterprises in Iraq
The United States of America, through its International Development Finance Corporation, decided to provide a financial loan worth 50 million dollars to support medium and small projects in Iraq, according to the joint statement of the Supreme Coordination Committee between the two countries (HCC) issued today, Tuesday.
Joint statement of the Supreme Coordination Committee (HCC) between Iraq and the United States
Today, Tuesday (April 16, 2024), the Media Office of Prime Minister Muhammad Shiaa Al-Sudani published the joint statement of the Supreme Coordination Committee (HCC) between Iraq and the United States.
The office stated in a statement received by "Baghdad Today", "The delegation of the Republic of Iraq, led by Deputy Prime Minister and Minister of Planning Muhammad Tamim, and the delegation of the United States government, led by Secretary of State Anthony J. Blinken, chaired the meeting of the Supreme Coordination Committee (HCC) yesterday, Monday." Corresponding to April 15, in accordance with the 2008 Strategic Framework Agreement between Iraq and the United States.
He added, "The two sides stressed the importance of the bilateral partnership and Iraq's vital role in the region's security and prosperity, and expressed their desire to expand the depth and scope of the relationship between the two countries, including in the areas of energy independence, financial reform, providing services to the Iraqi people, and strengthening democracy and the rule of law." And strengthening educational and cultural relations, and representatives of the Kurdistan Regional Government of Iraq also participated in the meeting.”
He pointed out that "the Iraqi delegation and the American delegation expressed a common opinion that Iraq has the ability to exploit its enormous natural gas resources, invest in new energy infrastructure and renewable energy sources, and achieve self-sufficiency in energy by 2030. The United States praised Iraq for the progress it has made." We have achieved great progress in reducing gas emissions and working to market associated gas. The great gas potential in the Kurdistan region of Iraq is a major component of energy security in Iraq, as is the increase in private sector investments.”
He pointed out, "To allow Iraq to benefit from the leading technology and expertise of the American private sector, Iraq and the United States announced the signing of new memorandums of understanding to process burned gas and convert it into usable electricity for the Iraqi people. The two sides also stressed the importance of resuming oil exports via the Iraqi-Turkish pipeline," while The United States praised Iraq for its great efforts to increase regional connectivity, especially with regard to electrical interconnection with Jordan, Saudi Arabia, and the Gulf Cooperation Council countries, and after years of work to build its interconnection with Jordan, Iraq began receiving 40 megawatts of electricity for its people. The capacity will increase in the future stages to 900 megawatts, and Iraq has confirmed that strengthening ties, which are based on common interests with neighbors, is the basis for local prosperity.”
The office stated, according to the statement, that “Iraq and the United States also discussed Iraq’s interest in using peaceful nuclear energy, including emerging nuclear technologies, and they also discussed the significant progress Iraq has made in modernizing its financial and banking sector, which led to the expansion of correspondent relationships with banks in United States and Europe," stressing "the commitment of Iraq and the United States to continue cooperative financial reform efforts, which will enable Iraq to encourage foreign investment and continue to expand international banking relations. These reforms will work to combat corruption and prevent illicit use of the Iraqi financial sector, allowing local banks to be Engines for comprehensive economic growth.
He continued, "The two sides decided to enhance cooperation through an enhanced participation plan between the main actors in the Government of Iraq and the US Department of the Treasury. Iraq and the United States also indicated the importance of improving the investment climate in Iraq and combating corruption, which are the basic pillars of the reform efforts of the Prime Minister, Mr. Sudanese." He pointed out that “to support the development of private businesses in Iraq, the United States International Development Finance Corporation will provide a loan worth $50 million, facilitated by the United States Agency for International Development, to the National Bank of Iraq, in order to provide loans to small and medium enterprises, with a focus on businesses that have not yet been established.” “She has no previous bank accounts and a woman-led business.”
According to the statement, Iraq renewed its commitment to “its ongoing efforts regarding joining the World Trade Organization and protecting intellectual property rights. The United States also committed to supporting a series of International Visitor Leadership Program projects for Iraqis to develop expertise in these fields. The two parties recognized the importance of strategic projects and infrastructure in Iraq, Which will support regional integration and enhance international trade.”
For its part, the United States expressed its “concern about the impacts of climate change felt by the Iraqi people, and pledged to continue its support for resolving the water crisis in Iraq and improving public health, and praised the work of the Supreme Water Committee to improve the management of water resources in Iraq, and the two countries intend to work closely together to address Climate change and water scarcity in Iraq, and ending gas burning to reduce methane emissions.”
The United States praised Iraq's imminent release of the National Action Plan and encouraged Iraq to prepare more ambitious national contributions under the Paris Agreement ahead of the 29th UN Climate Change Conference. The United States Agency for International Development (USAID) committed to working with Iraq at the local government level to improve Water and waste management services. The United States also committed to the International Visitor Leadership Program and the Water Expert Ambassador Program to share technical expertise in water management and other needs. The Iraqi delegation also expressed its interest in cooperating with American companies to exchange expertise in health insurance programs, hospital management, and cancer research.
The United States Government welcomed “the Government of Iraq’s commitment to respect freedom of expression, in accordance with Iraqi law as guaranteed by the Iraqi Constitution, and the two delegations discussed how the United States can support the Iraqi Government in the best possible way to advance justice for survivors and victims of the genocide, committed by ISIS in 2014, in accordance with the rule of law.” The two sides also discussed the importance of stabilizing Sinjar, and the United States reaffirmed its intention to continue to support Iraq in strengthening its strategy to combat trafficking in persons. The United States praised recent positive developments in support of minorities. The two delegations also noted the impressive progress Iraq has made in returning more than 8,000 of its citizens. From Al-Hawl camp for displaced people in northeastern Syria, the United States thanked Iraq for its commitment to accelerating the pace of repatriation of citizens.
With regard to higher education and culture, the two governments discussed “the United States’ support for the scholarship program, which was restored by the Prime Minister with the aim of increasing the number of Iraqi students studying abroad, as the Iraqi government intends to send 3,000 male and female students to study in the United States, out of the 5,000 male and female students it plans to send.” To send them to study abroad, the two countries welcomed initiatives aimed at expanding English language education and providing guidance to Iraqi students who are interested in studying in the United States, or who intend to travel to it.”
The statement continued, "The two sides reviewed the progress made in their joint efforts to preserve Iraq's rich cultural heritage and its religious diversity, and affirmed their intention to continue to facilitate the return of Iraqi cultural property to its rightful place in Iraq. Accordingly, during the meeting of the Supreme Coordination Committee, the Ministry of Foreign Affairs coordinated The United States transferred an ancient Sumerian artifact returned by the Metropolitan Museum of Art in New York City to Iraq, and committed to returning more Iraqi artifacts in the future.
The two countries stressed "the importance of the steps taken by Iraq in strengthening its security, stability, and sovereignty, and indicated their mutual determination to deepen the strong relations between their peoples. The United States welcomed this opportunity to reaffirm and strengthen its partnership with Iraq."
The “cheat sheet” in Biden’s hands: the need for notes or insufficient preparation?
When President Joe Biden speaks, he sometimes appears with notes in his hand, which has sometimes raised questions and criticism. In a meeting with Iraqi Prime Minister Muhammad Shiaa Al-Sudani, viewers once again spotted the card Biden was holding, and some press reports described it as a “cheat sheet.”
The paper included instructions for Biden on when to focus on his speech and when he should stop to give the translator a chance to translate. This is not unusual for Biden, as he has previously been observed using note cards on several other occasions, whether to answer questions from reporters or to collect political donations.
This has clearly generated some controversy and criticism, especially regarding the president's image and ability to communicate without the need for pre-written notes. However, we must remember that the use of paper is not something completely unique to politics, as many leaders rely on written notes to help them stay on track and remind them of the main points they want to make.
Of course, it is important for the president to be able to communicate clearly and confidently without the need for paper, and perhaps his team should take better care of preparing him for media confrontations and official meetings. However, using the paper is merely a tool to ensure that all important points are covered, and is not evidence of an inability to lead or communicate effectively
New York Post: Al-Sudani’s statements in Washington were “brief and improvised” and Biden used a “cheat card”
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Observers spotted US President Joe Biden again carrying a sheet of notes that the American press describes as a “cheat sheet,” during a meeting with Prime Minister Muhammad Shiaa al-Sudani.
During the meeting, which took place yesterday, Monday, at the White House, Biden, who is 81 years old, pulled the paper from his pocket and looked at it repeatedly.
The cameras monitored the content of the "cheat sheet", which included a directive in large letters about when Biden would stop speaking to allow the translator to translate, in his first public statement since Iran launched an unprecedented attack with missiles and drones on the Israeli entity over the weekend.
Al-Sudani did not rely on note cards, and was content with brief, improvised statements, according to the New York Post.
The US President has a history of relying on note cards for comments. In April last year, he was seen using a card that appeared to contain a question from a reporter, before Biden invited the journalist to ask the question.
Biden also relied on note cards for private
The starting step towards launching.” A representative reveals what the Sudanese seeks to achieve by visiting Washington
link uhhh they are going International? hahaha
On Sunday, Representative Ali Al-Mashkour revealed what Prime Minister Muhammad Shiaa Al-Sudani seeks to achieve during his visit to the United States of America, expressing his hope that the visit will be the beginning step towards Arab and global cooperation.
Al-Mashkour told “Jarida”, “What the Sudanese seeks in dealing with the outstanding issues and with political and economic balance will restore confidence to strengthen partnerships with all countries of the world, as choosing America as the first station will be a maturation of foreign relations, starting between Iraq and the United States, because of the great amount that we have in common.” For files with America and a departure for all countries of the world.”
The representative believed that “the start of relations will activate the strategic agreement in the areas of military presence, economic and investment, in addition to the areas of development, education, technology and many possible fields, and that choosing America in the forefront will be a message of reassurance to all countries of the world in terms of cooperation and investment and through factors of joint commitment between them.” The two parties, which leads to joint cooperation with Iraq politically, economically, socially and even militarily.”
Al-Mashkour expressed his hope that “the Sudanese visit to America will be the beginning step toward Arab and global cooperation and return Iraq to its natural position among countries because of the many minds and resources it possesses.”
Iraq records the highest quarterly growth rate in customs revenues
Advisor to the Ministry of Finance and Head of the Customs Authority, Hassan Hammoud Al-Ugaili, announced the highest quarterly growth rate in customs revenues in the authority’s history, indicating the escalation of steps to implement the automation system (ASYCUDA) in five land and sea centers.
Al-Ugaili said in a statement followed by Al-Iqtisad News: “We achieved outstanding financial results in the first quarter of 2024, with revenues increasing since the beginning of the millennium by 120%, amounting to more than 471 billion dinars, compared to revenues for the year 2023 amounting to 257 billion dinars.”
He attributed this increase in revenues to the Commission’s adoption of a number of administrative reforms, as well as accountability, monitoring, and strictness in combating smuggling and evasion, as well as simplifying and reconsidering obstructive procedures, punishing abusers, and referring corruption cases to the Integrity Commission, in addition to implementing the ASYCUDA automation system, which has enhanced a significant leap in the volume of Revenues are sufficient to achieve added annual revenue by reducing the budget deficit gap and financing many important strategic projects in financing public budgets.
Al-Ugaili stressed the importance of the region’s authority’s commitment to the pricing system to collect customs duties at the region’s ports and to close unofficial ones in order to preserve the sustainability of the economic system and federal revenues, to protect national goods and products, to ensure the extraction of rights and fees from imported goods, to prevent any competition that might harm the local economy, and to prevent the entry of prohibited goods. It was necessary to The region carries out customs transactions in accordance with the Federal Customs Law.
Al-Ugaili also revealed that all administrative and technical procedures have been prepared for the opening of the automation system (ASYCUDA) during the next month of May in five customs centers in each of the central port and the southern port in Umm Qasr, as well as in the Safwan land port with the State of Kuwait, the Arar land port with the Kingdom of Saudi Arabia, and the Tarbil port. Land with the Kingdom of Jordan, bringing the operational total of automation to 9 land, sea and air ports.
He stated that the Authority has completed training programs for about 800 people, including employees, discharge agents and transport companies, to work on the smart automation platform, machine learning (ML) and other cognitive technologies for collecting data. This allows companies and discharge agents to reduce the manual time spent on repetitive business processes and reduce human errors, with a decrease in... Human intervention, which saves companies time and money, reduces resource expenses, enhances workflow through automatic responses and can provide support 24 hours a day, 7 days a week, calling on importing and transporting companies with headquarters in Baghdad to join their workers and join the mandatory courses at the center. Which was recently opened at the authority’s headquarters.
Al-Bayati: Al-Sudani’s visit to Washington will resolve these two files
Former MP Jassim Al-Bayati confirmed on Tuesday that the Sudanese visit to Washington will have positive consequences at various levels, especially military, security and economic, pointing out that the visit would resolve the issue of the American military presence inside Iraq and strengthen the dinar against the dollar.
Al-Bayati told Al-Maalouma, “The visit of Prime Minister Muhammad Shiaa Al-Sudani will have positive consequences at all stages, whether activating the strategic framework agreement between the two countries or resolving some economic issues.”
He added, "The visit would resolve the files of some banks that were punished by the Dalil countries, as well as resolve the issue of the lack of liquidity of foreign currency (the dollar) in Iraqi banks and find solutions to ensure its availability."
He stated that "the visit would strengthen the Iraqi dinar currency against the dollar, and ensure that the parallel exchange rate is close to the official one in the local markets, in addition to emphasizing the withdrawal of American ground forces from Iraq and discussing military and security issues."
The Pentagon approves a military deal with Iraq worth more than half a billion dollars
The US Department of Defense announced the approval of an imminent military deal with Iraq worth more than half a billion dollars.
According to a statement by the US Department of Defense, the Pentagon, the deal includes the sale of logistical support and training aircraft at an estimated cost of $140 million.
The Pentagon explained that the training and support applies to the Iraqi fleet of C-172 and AC/RC-208 aircraft, and the main contractor for the deal will be Northrop Grumman.
Prime Minister Muhammad Shiaa Al-Sudani is visiting Washington at the head of a delegation consisting of 130 people specialized in various sectors, in a visit that began on April 13 and will continue until the 19th of the same month.
Iraq and America are discussing the recovery of wanted persons and concluding memorandums of understanding
The Federal Integrity Commission announced, on Tuesday, that Iraq and the United States of America discussed the recovery of wanted persons and the conclusion of memorandums of understanding.
A statement by the authority stated, “The coordination team that accompanied the Prime Minister on his visit to the United States of America discussed several issues related to the recovery of wanted persons and smuggled assets; As a result of corruption and the conclusion of memorandums of understanding.”
He added, “The discussions conducted by the coordination team also included emphasizing the importance of accelerating the conclusion of memorandums of understanding between the Iraqi Integrity Commission and the US Department of Justice on the one hand, and the Iraq Money Recovery Fund and the US Treasury on the other hand.”
A meeting between Al-Sudani and the head of the American company Stellar Energy in Washington
On Tuesday, Prime Minister Muhammad Shiaa Al-Sudani discussed in Washington power station projects implemented by the American company Stellar Energy, on the sidelines of his visit to the United States of America.
A statement from Al-Sudani's office stated that the latter received "at his residence in Washington, DC, a delegation from the American company Stellar Energy , headed by the company's CEO, Peter Gibson."
The statement indicated, "The meeting discussed cooperation mechanisms with the company in the electricity sector, and reviewed the implementation progress of the company's projects that are being implemented in Iraq."
Al-Sudani stressed, according to the statement, “the need for the company to expedite the completion of the work of the projects contracted with the Ministry of Electricity , which are the two combined cycle projects in the Kirkuk and Sadr City power stations.”
For his part, CEO Gibson affirmed, “The company’s readiness to accelerate the completion of the aforementioned projects, enter into the field of developing various energy projects, and work to introduce systems to reduce carbon emissions.”
Washington.. Al-Sudani agrees with “General Dynamics” to develop Iraq’s armament
The Prime Minister, Mr. Muhammad Shiaa Al-Sudani, received, this evening, Tuesday (Baghdad time), at his residence in Washington, DC, a delegation from General Dynamics, which is one of the largest American companies that manufacture weapons and military equipment.
During the meeting, cooperation with the company was discussed, within the framework of the government’s efforts and steps towards rebuilding its military capabilities in the field of tank and armored weapons, as well as cooperation to complete a large workshop for the maintenance and development of tanks. To make it compatible with the Iraqi fields and atmosphere, it was also agreed to launch a group of initiatives with this company in the near future, which comes within the government’s plans to develop the military institution and support it with various types of modern weapons.
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