Iraq relies on Iran for energy, food, and mitigation efforts
The water crisis in Iraq has become increasingly severe and has clearly begun to affect agricultural activity, reducing the country's food self-sufficiency. This crisis has opened the door to direct financial benefits for Iran, the neighboring country that is believed to have a role in exacerbating this crisis.
Despite this, the Iraqi government has not made sufficient efforts to address this problem or reduce its negative impact, and hopes are currently focused on Erdogan’s visit to alleviate the severity of this crisis.
In light of the data resulting from the close connection between Iraq and Iran, in the energy sector, and Iraq’s heavy dependence on Iranian gas to produce electricity, Baghdad seeks to diversify its energy sources in order to reduce this dependence.
In the same context, Iraq's need to import Iranian foodstuffs is increasing as a result of the challenges facing local production operations, due to climate change and water scarcity that affect the agricultural sector and the decline of food industries.
The new figures show that Iraq ranks first as the largest importer of Iranian food and agricultural products, as the value of Iraqi imports from Iran during the past year amounted to nearly two billion dollars.
In his statements, the spokesman for the International Affairs and Trade Development Committee in Iran stressed that Iraq is considered the main market for his country’s exports of food and agricultural products.
It is no secret that the heavy reliance on Iranian resources involves political aspects, which have caused domination over sensitive sectors in Iraq, especially with its negative effects on the agricultural sector and water resources such as the Karun River and the Lower Zab.
In a related context, the Iraqi electricity sector relies heavily on gas imported from Iran, which covers a third of the country's energy needs, but Tehran regularly cuts off supplies, leading to major power outages.
In terms of recent developments, the Iraqi Prime Minister signed memorandums of understanding with the United States to develop the exploitation of Iraqi associated gas, which strengthens Iraqi efforts to diversify energy sources and dispense with Iranian dependence.
The video for this blog post is below here:
Iraq to set up Office for Expatriate Affairs
The Iraqi Prime Minister has said that Iraq will set up an Office for Expatriate Affairs, linked to the Prime Minister's Office, to address the needs and issues raised by Iraqi communities abroad
Mohammed Shia' al-Sudani made the announcement at a meeting of Iraqi expatriates in Houston, Texas, following his visit to Washington DC.
According to a statement, the Prime Minister emphasized the government's commitment to staying connected with Iraqi expatriates worldwide and expressed the need for their expertise in various fields.
He explained that his current visit to the United States is aimed at establishing the foundation for a lasting partnership and bilateral relations between the two countries, based on the mutual interests of their peoples.
He concluded his remarks by commending the Iraqi community in America for their important and notable contributions and expressed pride in their efforts, looking forward to their continued participation in the reconstruction and prosperity of Iraq.
I found the clip from the Movie W. look at the map and listen to the words they say
Political analyst: The region’s oil is the link between Al-Sudani’s visit to Washington and Erdogan’s visit to Iraq
Amber said: For the program {Free Speech} broadcast by Al-Furat satellite channel this Monday evening, it was stated that: “
Prime Minister Muhammad Shiaa Al-Sudani has a very important vision in partnership with the countries of the region.
- Achieving economic partnership with the Turkish side requires resolving the issue of the Kurdistan Workers’ Party.
- A visit by the Turkish president Recep Tayyip Erdogan coincided with the visit to Washington, and the important point that was strongly raised was the resumption of oil exports through the port of Ceyhan, and America may have pushed for it to complete Iraq’s share in OPEC. The
biggest winner from the Sudanese visit to Washington are the Kurds, as all problems with the region have been resolved
- the investment environment What we are seeking is still not attractive, and investment exceptions should be granted for important strategic projects.
Agreements must be documented with the Turkish side through the United Nations to ensure that commitment is achieved. The water file is a national security issue, and Iraq did not put it as a priority, and the overlap of powers hindered the resolution of the file with the Turkish side.
Al-Awadi reveals the cost of the development road project with the Turkish side: it will be paid through the “Oil Fund”
more from that speech
The Prime Minister’s spokesman, Basem Al-Awadi, revealed on Monday the cost of the development project announced by Prime Minister Muhammad Al-Sudani and Turkish President Recep Tayyip Erdogan, and the method of paying money to Turkish companies through an “oil” fund, in which the projects’ shares are placed. Through the Ministry of Oil, it is then sold to pay project funds.
Al-Awadi said, during a press conference attended by Shafaq News Agency correspondent, “Prime Minister Muhammad Shiaa Al-Sudani and Turkish President Recep Tayyip Erdogan signed 26 memorandums of strategic cooperation in various fields, including security, economy, investment, education, health, and other memorandums.”
He added, "The Iraqi National Security Council has described the PKK as a banned organization, and that the Iraqi-Turkish joint security committees are in continuous dialogue. Considering that the organization is banned, their presence in Iraqi territory is in the form of guests and they are not allowed to engage in partisan or political activity or military activity and are dealt with." With them as refugees under the supervision of international human rights organizations.”
He pointed out that "the Iraqi-Turkish strategic agreement signed by the Prime Minister contains a set of points, and a fund will be established in which the oil will be placed in the same manner as the Iraqi-Chinese framework, and that the oil resources will finance the project," indicating that "Turkish companies that will be announced later will work to build dams and dig... New rivers and converting some of the rivers that convert to evaporation from the river into pipes, so these are multiple projects for the coming years.”
He stated that "there are committees that will determine the amount of oil that will be placed in the fund and that the oil will be sold and its prices, which will be the basic ceiling for the projects implemented by Turkey, as they will be financed from the oil-financed fund."
In response to a question by Shafaq News correspondent, Al-Awadi said, “The cost of the development road reaches 17 billion dollars or more. Therefore, we need basic allies and countries to join the road, and this reflects positively on the economic and financial situation.”
Al-Awadi continued: “Today, Iraq signed a strategic quadripartite agreement with Turkey, Qatar, and the Emirates. This strategic agreement represents the launch of work for the development project in Iraq, and that these four parties will be the basic common ground that will bear the costs and investments, and there will be joint committees and distribute work among the four parties.”
He pointed out that, “shortly after the signing of the strategic agreement, joint committees will be allocated between the countries, and that Iraq granted the development road plan to the Italian consulting company and it has now been completed to borders beyond Baghdad, and the first section began from Basra to Nasiriyah and then from Nasiriyah to Karbala and then to Baghdad.” In terms of planning, it has been completed according to the economic model, and within a month we will move directly to the committees that determine the economic model, after which the implementation of the development road project will begin.”
The Iraqi Central Governor reveals the plan to reform the banking system and talks about “sanctions”
Today, Monday, the Governor of the Central Bank of Iraq presented a plan to reform the banking sector in Iraq, and while he touched on the issue of sanctions on Iraqi banks, he stressed that these measures did not threaten the Iraqi economy.
The Governor of the Central Bank, Ali Al-Alaq, said in a televised interview followed by “Al-Iqtisad News” that “the current Iraqi government is very focused on the economic dimension and renaissance, and the expansion of infrastructure and services,” indicating that “this matter requires the presence of an active and effective financial sector that can To accompany, activate, organize and finance, so this file goes hand in hand with the government’s plan within the framework of economic reform.”
He added, "Iraq has a very large financial relationship with the United States of America, given that the oil resources that form the basis of the Iraqi state's budget come from the export of oil via the dollar, and this is what is agreed upon globally," pointing out that "the first stop for Iraqi funds is in the Federal Reserve." The central bank then deals with these funds by investing them in various areas inside the United States and abroad in central banks of other countries.”
The Governor of the Central Bank continued, “There is diversity in the nature of these reserves, such as geographical and qualitative diversity in these investments, which are in the form of bonds, gold, goods, and others.”
Regarding the issue of financial reform in Iraq, Al-Alaq explained, “Iraq has a multi-faceted program in this framework, as the first aspect is harmony, adaptation, the adoption of international standards in financial transactions, and the application of compliance rules and laws related to combating money laundering and terrorist financing,” stressing that “there is interest.” Dollin is very focused on ensuring that transactions are free of any violations, violations, or suspicious issues.”
He continues by saying: “Given that the financial relationship with the United States of America is broad and large, the Iraqi financial system must be protected, as well as the system in America, and any money laundering or terrorist financing operations must be prevented from entering through it,” noting that “there is continuous coordination and common understanding, throughout the years.” The past in order to achieve this goal, which includes the presence of broad plans and programs, relying on international consultations and contracting with major offices specialized in this field, with which the Central Bank is organizing these matters in order to achieve the great goal, which gives positive messages to financial institutions all over the world.
As for the second matter, he stated, “This matter revolves around reforming the banking sector itself, and many details revolve around it with plans being worked on, starting with government banks such as Al-Rashid, Al-Rafidain, Al-Sina’i, and Agricultural, which constitute 80% of the Iraqi banking sector,” adding, saying: "If we want to think about the reform process, we have to start from the largest part, as it was agreed in direct coordination with the Prime Minister, the government, and the Central Bank to reform these banks, through a large plan that is now underway in contract with one of the large international companies, which includes restructuring."
He continued his speech, saying, “There is a great focus on targeting the structure to advance these banks by introducing strategic partners from outside Iraq, who have accumulated experience in this field,” stressing that “there are clear desires from some internationally accredited banks to participate in this field, and we are still awaiting a study.” The company in charge of this matter in order to attract investors from inside Iraq, as it will be like public joint-stock companies that absorb capital from within the country, in addition to the necessity of having a strategic partner to modernize government bank departments in a way that reaches the advanced level.”
He pointed out, “Government banks were very late due to the circumstances that the country went through, and it is necessary to keep pace with the process of major changes,” explaining that “the detailed study of this project will be presented in the eighth month, and then there will be clarity about the road map and the next steps so that appropriate measures can be taken.” "In this regard."
Al-Alaq stated, “This is one of the things that was discussed during the meeting with the US Treasury, and it was very welcomed by all parties, not just in the United States, as it is an existing and ongoing question by the parties of international institutions.”
Regarding the US sanctions on Iraqi banks, he added: “We have a close relationship with the US Federal Bank, and what happened was the emergence of a list of bank names, where the issue was not imposing sanctions on these banks, or including them in the sanctions list, but rather depriving them of dealing in dollars only.” Pointing out that “the Central Bank took a serious look at the merits of the issue and how to take future measures, and this is part of the dialogue that took place, whether it was in the presence of the Prime Minister with the US Treasury, or even during the meetings held by the Central Bank with the US Federal Reserve.”
He noted, "Violations in the banking sector exist, and may occur, and this is the work of the Central Bank constantly, as we have a committee specialized in fines and penalties, which receives inspectors' reports, and imposes these fines on an ongoing basis in accordance with the Money Laundering and Anti-Terrorism Law."
Regarding the repercussions of this suspension on the Iraqi economy, Al-Alaq stated, “This suspension certainly has negative effects, but it will not threaten the Iraqi economy, especially since external transfer operations and the exchange rate continue normally.”
As for the fictitious companies that sell the dollar, the Governor of the Central Bank stated, “These phenomena exist in other countries as well, and due to technical developments and dealing through websites, they are an opportunity for fraud at the same time, and the Central Bank has a careful follow-up of these matters and they are reported in the judiciary.” Considering the use of these means to trap others, we warn against them.”
Al-Alaq touched on government debts, explaining: “The current government focused on the external debt, which amounts to a minimum of $9 billion to multiple parties, which is the lowest over the past years due to continuous repayments. As for the domestic debt, it has reached approximately 70 trillion dinars.”
Iraqi oil revenues go to the US Federal Bank
Channel 8 revealed that Iraqi oil revenues go directly to the US Federal Bank, and then, with an official letter from the Iraqi Ministry of Finance, an amount of it is deposited in the account of the Central Bank of Iraq.
Iraq is an oil-producing country. It exports about 100 million barrels of oil monthly, and its revenues exceed 7 billion dollars. Unlike most countries in the world, the revenues from oil sales do not go directly to the Iraqi public treasury.
After the fall of the Baath regime in 2003, Iraq came under American surveillance, and under the pretext of demanding compensation by a number of countries affected by Saddam Hussein’s policies, Iraqi oil revenues are deposited in the American Federal Bank to protect them, and until now the oil revenues go to the American Federal Bank, and the Ministry Finance monthly by sending an official letter to the relevant authorities in the United States of America depositing $5 billion in the account of the Central Bank of Iraq.
Oil revenues in the Iraqi Budget Law for 2023 constitute 117 trillion dinars, non-oil revenues amount to 17 trillion dinars, and the size of the budget reaches 198 trillion dinars and its total revenues reach 134 trillion dinars.
The Iraqi Budget Law set a rate of 61 trillion dinars for disbursing salaries, while Iraq needs 5.5 trillion dinars per month to disburse salaries.
Although Iraq is famous as an agricultural country, since 2003, due to the destruction of its economic infrastructure and lack of reliance on the agricultural sector, it has relied on oil revenues to secure salaries and expenses, and according to the SEO World magazine’s ranking of salaries around the world, Iraq is ranked 62nd among 105 countries. In the world, and tenth among Arab countries.
Changing the relationship and the ruling lobby with the Central Bank is necessary but not sufficient for economic reform
The economic expert, Omar Al-Halbousi, said on Monday that changing the governor of the Central Bank, Ali Al-Alaq, and the ruling lobby in the bank has become an inevitable necessity to save the country and its currency, which was lost due to the impact of the parallel market that controls the exchange rate and blatant banking interventions in the work of the Central Bank.
Al-Halbousi stated, to “Jarida”, that “the Central Bank is controlled by a lobby that has led to the destruction of this ancient institution and placed it under pressure and manipulation by partisan parties, armed groups, banks and international bodies, until private banks have a role in manipulating the decisions of this ancient institution, which has lost its authoritarian and supervisory role over the country.” Banks, in addition to partisan government intervention by changing the exchange rate and making it an item in the budget.”
He explained, “Note that the exchange rate is within the powers of the Central Bank and adding it as an item in the budget is a crime that has led to the financial, monetary and economic losses we are facing for the state and the citizen, and at the same time achieving the maximum benefit for the banks that dominate the currency selling window, especially those owned by external parties that profit from that.” Countries are at the expense of harming Iraq without offering anything to Iraq.”
He stressed, “Changing the relationship has become an inevitable necessity because it did not achieve what was promised in terms of stabilizing the exchange rate and controlling the work of the banks, but changing the relationship alone does not solve the complex problems. Rather, all departments, sections, and departments in the central bank that are subject to the control of parties and private banks must be changed.”
He added, “As well as restoring the independence of the Central Bank completely without the interference of parties and banks, then building a real monetary policy that deals with monetary policy tools to solve the problems plaguing the Iraqi dinar and moving private banks from the shop mentality to the mentality of banks with full financial and banking services and products, which will bring success to all sectors.” “.
He stressed, “It is necessary for the central bank to be headed by a competent and courageous professional figure with a work team with the same characteristics in order for the vision and performance to be integrated to achieve success, digital transformation, and success in building a real banking system after years of decline due to the impact of partisan and external interventions.”
He continued, “But there is a major challenge in how to succeed in this step in light of the blatant external interference in the work of state institutions through banks owned by external parties that manipulate through lobbies they created within the Central Bank, in addition to the parties participating in the government and armed groups.”
He stated, “All of these challenges require a tremendous effort that may lead to the outbreak of intense conflicts fueled by international parties that have made Iraq a hotbed for dollar theft and money laundering and have begun to live off of Iraq. Therefore, this step will not be easy and you will not be able to achieve success quickly, and with the loss of international support, you will not achieve success.” This step is a success in a country where weapons and corruption are widespread and an international conflict environment in which political, economic and military conflicts are intertwined.”
He concluded by saying, “This step will not succeed unless the above conditions are met, even though changing the relationship and the ruling lobby in the central bank has become an inevitable necessity to save the country and its currency, which is essentially part of the sovereignty that was lost due to the impact of the parallel market that controls the exchange rate and blatant banking interventions by making... central bank".
Advisor to Sudanese: The Washington visit did not discuss the movement of the dollar and the signing of 21 agreements with Türkiye tomorrow
Al-Najjar said: For the program {Free Speech} broadcast by Al-Furat TV channel this Sunday evening, it was stated that: “
The relationship between Iraq and the United States has some strangeness, as it moved from occupation, then defense, and now it is turning into a different relationship and bilateral cooperation in various fields.
- For the first time, an Iraqi prime minister goes to Washington Without internal or economic problems.
- The Prime Minister’s visit discussed the coming years to serve the interests of Iraq and the United States. Therefore, it was characterized by the presence of space to raise more legal files, and the Sudanese approach to managing relations, whether with the United States or others.
- Iraq produces oil and the United States is a country Consumer, but it has the ability to import and market oil globally, but it is not equal to the fact that previously we were looking at developing trade, and today with this visit, Iraq presented its possession of more than 400 billion dollars in infrastructure projects and climate change, which in themselves are opportunities for American companies -
now we have moved on from a vision Iraq, as a country of wars and problems, has a large market of investments, projects, and number of consumers, and many American companies are competing to invest in the country.
Political stability contributed to the success of Washington’s visit and the activation of economic files.
The American side was very understanding of Iraq's current situation, and today a very large number of agreements were signed between American companies and Iraqi companies in the private sector.
- American companies raised their concerns about a set of laws and their support, including ownership, the entry and exit of capital, and the banking problem. But the Sudanese visit left a positive impression of Iraq on foreign companies.
The movement of the dollar in Iraq was not raised during the visit, as it is an internal issue, and the government will develop a plan to rehabilitate the sanctioned banks in preparation for lifting the ban on them.
Ali Al-Wardi City will be competitively priced and acceptable to citizens. The development route is the shortest from northern China to the rest of the countries, and the link between Asia and Europe is via Turkey, which will have a very essential role. The project has also gained the acceptance of the World Bank.
The visit of Turkish President Recep Tayyip Erdogan includes the signing of several contracts in the agriculture, irrigation and other sectors, as 21 agreements will be signed with the Turkish side, including with an international company on the subject of exploiting sewage water to filter and water crops.
-The water file is one of the first files that will be discussed during Erdogan’s visit to Iraq, and there are significant efforts to reach an agreement. As for the second file, it is the path to development, as well as the files on the entry of Turkish investments, transit, and others.
-The government is determined to resolve all files with the Turkish side, and Iraq needs administrative and technical expertise to manage the industrial file.
Specialized Center: The Iraq-Turkey agreements raise concerns for Iran
Bakir Atacan, Director of the Istanbul Think Tank, described the visit of Turkish President Recep Tayyip Erdogan to Iraq as carrying great strategic importance in enhancing security and development. Atagan points out Iran's concern about this visit, as Iran considers attempts to enhance cooperation between Turkey and Iraq a threat to its regional interests.
In his statements about the Turkish President's visit to Iraq, Bakir Atacan, Director of the Istanbul Think Tank, shed light on important strategic aspects related to security and development in the region. Atagan described this visit as having a security character par excellence, given the strategic importance of the agreements concluded during it.
The most prominent thing that Atacan touched on was the role of the development road between Iraq and Turkey, which is considered, in his words, a “rare alternative” to the Strait of Hormuz and to the challenges facing navigation in the Red Sea.
In this context, he noted Iran's deep concern about this development. Regarding the security dimensions of the visit, Atagan stressed that Iran fears the signing of security agreements between Baghdad and Ankara, as it works to obstruct any rapprochement that could negatively affect its regional interests.
He pointed out the importance of the development road project as an alternative to the Strait of Hormuz, and as a vital artery that can enhance economic and trade connectivity between Iraq, Turkey, and the Gulf states.
Atacan stated that Iran supports armed groups, such as the Kurdistan Workers' Party, and provides training and financial and military support to them, with the aim of achieving its interests by continuing to obstruct any agreements that strengthen the role of Iraq and Turkey in the region.
In view of these developments, it becomes clear that the Turkish President’s visit to Iraq carries important strategic and security dimensions, as Turkey and Iraq seek to enhance economic and security cooperation, amid Iranian attempts to obstruct these efforts, according to the vision of those concerned.
Al-Sudani: My visit to Washington produced results in favor of Iraq
On Tuesday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixteenth regular session of the Council of Ministers, during which the general situation in the country was discussed, a number of important files were discussed, topics on the agenda were deliberated on, and decisions and recommendations were taken regarding them.
At the beginning of the session, Al-Sudani reviewed, according to a statement from his office received by Al-Maalouma, “the results of his official visit to the United States this month, which produced results that are in the interest of Iraq in terms of economy, politics, security, and regional stability, and in the interest of building bilateral strategic relations, in addition to signing a number of memorandums.” Understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”
He also reviewed "the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey, Qatar and the UAE, regarding a road project." Development, the investment opportunities it holds, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”
During the session, the Prime Minister directed the ministers to “follow up the implementation of the memorandums of understanding, and provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the states.” United States and Turkey.
Turkish forces expect to launch a large military operation in northern Iraq soon
Hürriyet newspaper reported that the Turkish army will carry out a comprehensive ground operation against members of the banned Kurdistan Workers' Party after President Recep Tayyip Erdogan's visit to Iraq.
According to the newspaper, Erdogan's visit to Iraq is scheduled to take place on Monday. The Turkish Armed Forces expect to conduct a large-scale ground military operation in northern Iraq against the PKK in the summer months.
Erdogan has stated many times that Ankara expects to “resolve the border security issue” with Iraq in the summer. According to him, the Turkish side is also seeking to establish a security corridor 30 to 40 kilometers deep in Syria.
The newspaper explained that “Ankara expects to use this operation to close the entire 378-kilometre border with Iraq to terrorists,” as it described it.
In his article in the aforementioned newspaper, journalist Abdul Qadir Selvi, who is close to Turkish government circles, wrote: “President Erdogan said: We will close the circle that will secure our Iraqi borders. God willing, this summer we will finally solve the problem regarding our Iraqi borders. After Erdogan's visit to Iraq, a comprehensive ground operation will be carried out against the PKK. “This time, the concept of this operation will be different.”
The article added: “We plan to carry out this operation in conjunction with the central government in Baghdad, the Erbil administration, and the Popular Mobilization Forces.” The Turkish Armed Forces will penetrate Iraq on the ground with support from the air force. The goal is to create a secure line at a depth of 30-40 kilometers from our 378-kilometre-long Iraqi border. The attacks on our bases on December 22, 23 and January 24 made the establishment of this buffer zone inevitable.”
Iraq: Resuming Kurdistan oil exports via Türkiye will take some time
The Iraqi government said that the return of oil exports from Kurdistan to Turkey via the pipeline, which has been closed for more than a year, will take longer as negotiations continue with the regional government and oil producers.
Government spokesman Bassem Al-Awadi added in a statement to reporters that the talks between companies and the Iraqi Oil Ministry are likely to take some time, especially since Baghdad is working to establish a direct relationship with regard to production quantities, exports and prices, explaining that there is no specific time frame for resolving negotiations with companies. Foreign oil in the region.
The closure of the pipeline that extends to the Turkish port of Ceyhan led to the removal of nearly half a million barrels of oil daily from global markets at a time when crude oil prices in London were hovering below $90 per barrel. Turkey, which claimed the link was closed because it needed repairs after two massive earthquakes in February last year, said in October it was ready to operate and that it was up to Iraq to resume flows.
Al-Awadi indicated that Turkey is ready to receive Iraqi oil from Kurdistan fields and there is no problem with exporting through the port of Ceyhan.
He added that the issue needs time between Kurdistan and the Ministry of Oil in Baghdad.
this was on Bloomberg too
Iraq Says Resuming Kurdish Oil Exports Will ‘Take Some Time’
- There’s no time frame to complete negotiations: spokesman
- Kurdistan-Turkey pipeline has been shut for more than a year
Parliamentary Finance: State measures reduced pressure on the parallel market by 30%
Member of the Parliamentary Finance Committee, MP Mudar Al-Karawi, confirmed on Monday that the state’s measures reduced the pressure on the parallel market by 30%.
Al-Karawi said in an interview with Al-Maalouma, “The parallel market is a reality that cannot be overlooked and has emerged greatly in Iraq due to mistakes and accumulations that have continued for many years in addressing the economic dimensions by strengthening the dinar, not weakening it.”
He added, "The state's measures to curb the rise of the dollar, prevent its smuggling, push merchants and companies to the electronic platform, seek to adopt electronic payment for services, and end the dollarization of local activities, have led, in their entirety, to reduce the pressure on the parallel market by 30%."
He pointed out that "reducing pressure on the parallel market has led to a remarkable stabilization of the dollar's exchange rates over the past weeks, but it remains temporary because there are other factors affecting the dollar in the Iraqi scene, including oil markets, external and regional conditions, and the extent of the ability of the competent authorities to contain money laundering and smuggling operations."
The parallel market in Iraq has been witnessing stability for weeks in the exchange rates of the dollar in a way that gives relief because fluctuations lead to an increase in the prices of materials in the markets. Ended
Iraq Discusses Financial and Technical Support with IMF, World Bank
Iraqi Finance Minister Taif Sami met with World Bank Executive Director for Iraq, Abdulaziz Al Mulla, to discuss the World Bank's support for Iraq, including financial aid, technical support, and capacity building.
Al Mulla emphasized the bank's commitment to supporting member countries and that Iraq would benefit from the World Bank's programs aimed at bolstering the Iraqi economy.
Minister Sami also met with International Finance Corporation (IFC) Vice President Hela Cheikhrouhou to discuss ongoing efforts with the IFC related to financing and developing the private sector and supporting projects that create job opportunities.
Minister Sami expressed appreciation for the IFC's support in various sectors, including energy and ports, and for projects such as the Baghdad International Airport rehabilitation and expansion.
In a high-level meeting with newly appointed World Bank Vice President Ousmane Dione, the minister discussed the bank's readiness to support financial and economic projects in Iraq, particularly the strategic Development Road Project and the railway project. Dione confirmed the bank's commitment to offering technical support and advice in line with Iraq's national priorities.
During a series of spring meetings, Minister Sami and her delegation also met with the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, to discuss the importance of supporting private sector investment projects in Iraq, particularly in the fields of environment and renewable energy, and providing funding for government banks.
In a related meeting, Minister Sami discussed Iraq's technical needs with the International Monetary Fund's (IMF) Director of Financial and Technical Affairs, focusing on support for Iraq's fiscal policy and public finance management, particularly continued technical support for the Treasury Single Account program and ongoing tax and customs reforms.
Minister Sami emphasized ongoing efforts to improve budget planning and execution, reduce current expenditures, increase non-oil revenues through expanding tax bases, automate transactions, and enhance customs efficiency. She highlighted the steps taken toward transitioning to a Treasury Single Account [Unified Treasury Account] system and working on an integrated financial management system.
Al-Sudani did not look at Biden “eye-to-eye.” The advisor comments
The development path is the shortest and nothing is secret
Farhad Alaa El-Din, advisor to Prime Minister Muhammad Shiaa Al-Sudani, responded to some comments about the Sudanese’s “body language” during his meeting with the American President, and said that the nature of the seating positions imposed a lack of visual contact. On the other hand, Alaa El-Din stressed that the path of development that Iraq is working on Despite his achievement, it is, without competition and debate, the shortest and best route for Asian goods to Europe. He also spoke about the necessity of thinking about non-military mechanisms to deal with the Kurdistan Workers’ Party file, such as repeating Iraq’s experience with the Kurdish parties opposed to Iran, which ended with an agreement that led to the capture of Iraqi forces. Official border areas.
Farhad Alaa El-Din, Advisor to the Prime Minister for Foreign Relations, with journalist Ahmed Mulla Talal:
If goods go from Mumbai, India, by ship and arrive at Al-Faw, and then are loaded onto a truck that will only stop in Paris, for example, they will arrive within two or three days, while the other routes will take 5-6 days, without discussion... The shortest route between East and West is the Development.
Iraq decided, through the National Security Council, to consider the PKK a banned party in Iraq and prevent its activities. This is the first step. Turkey considers the activities of the Kurdistan Workers’ Party a threat to its national security. This problem is linked to the stability of the region and Iraq, and it is necessary for there to be some kind of peaceful solution. The military solution is not always useful, and at the same time it is important for us, as Iraqis and as a government, to develop alternatives... What is the alternative (to the status quo and military solutions)... This was the discussion, because one of the solutions that succeeded with Iran is to establish border guards and control the borders... Now we do not We hold the borders in these rugged mountainous areas, and this is one of the theses that will be on this side.
Regarding the visit of the Iraqi delegation to Washington, we sat for 40 minutes in the cabinet room in the White House, and the topics written in the joint statement were what were discussed at the time in text, such as the environment files, the issue of the Kurdistan region, and oil exports, as they are very interested in the return of exports, and paying the rights of American companies operating. In Kurdistan and so on... In the end, nothing is hidden.
- Why did Sudanese not put his eyes in Biden’s eyes when he spoke?
The most important thing is what the Sudanese said to the American president: The room was small, the manner of the session and the chairs were not facing each other, and there was a crowd of journalists in front of him, and he must talk to the camera and not to the president.
he US Treasury praises the actions of the government and the Central Bank in the Washington meetings
Samir Al-Nusairi
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