Minister of Finance of the World Bank: We have made plans to accelerate the pace of financial and banking reforms
link
the video for this blog post is below here:
Finance Minister, Taif Sami, confirmed today, Monday, the development of plans to accelerate the pace of financial and banking reforms, while the World Bank indicated continued serious and fruitful cooperation with the Iraqi government.
The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): “Minister of Finance, Taif Sami, received today the Regional Director for the Middle East at the World Bank, Jean-Christophe Carré, the Special Representative of the Bank in Iraq, Richard Abdel Nour, and a number of experts and specialists.”
She added, "During the meeting, priorities for development projects and ways to support the World Bank to strengthen the financial and business sectors and improve the investment environment were discussed," noting, "It was emphasized that continued bilateral coordination to promote sustainable development was discussed, in addition to discussing the Bank's support for the government program for economic reform in Iraq."
The Minister of Finance referred to the Ministry's efforts and plans towards accelerating the pace of financial and banking reforms in line with the Iraqi government's vision aimed at consolidating the foundations of the national economy, creating economic balance, and correcting the course of financial policy in Iraq.
For his part, the bank representative pointed out "the continuation of serious and fruitful cooperation with the Iraqi government, in everything related to providing the necessary support in terms of expertise for development projects and reforms related to the financial and business sector."
The Minister of Finance and the World Bank are discussing support for the economic and financial reform program
Finance Minister Taif Sami discussed, today, Monday, with the Regional Director for the Middle East at the World Bank, Jean-Christophe Carré, support for the economic and financial reform program.
A statement from the Finance Ministry, a copy of which {Al-Furat News} received, stated that: “During the meeting, priorities for development projects and ways to support the World Bank to strengthen the financial and business sectors and improve the investment environment were discussed, and emphasis was placed on continuing bilateral coordination to promote sustainable development, in addition to discussing the Bank’s support for the government program.” For economic reform in Iraq.
Sami referred to "the Ministry's efforts and plans towards accelerating the pace of financial and banking reforms in line with the Iraqi government's vision aimed at consolidating the foundations of the national economy, creating economic balance, and correcting the course of financial policy in Iraq."
For his part, the bank representative pointed out "the continuation of serious and fruitful cooperation with the Iraqi government, in everything related to providing the necessary support in terms of expertise for development projects and reforms related to the financial and business sector."
Iraqi economy faces threat as US closes oil revenue account
link from Kurdish news
According to the letter, Iraq maintained this account with the US Federal Reserve Bank, allowing it to receive oil revenues in dollars and utilize them to cover essential expenses in accordance with agreements with the United States.
In a recent development that has raised concerns over the stability of the Iraqi economy, the United States has closed the account through which Iraq collects revenue from its oil sales.
This revelation came to light through a letter addressed to the Finance Committee of the Iraqi Parliament, dated March 18, 2024.
The letter, signed by Ammar Khalaf, Deputy Governor of the Central Bank, outlines the closure of the account known as the Development Fund for Iraq (DFI), which has been operational since 2003.
The DFI, under the supervision and protection of the United Nations and the United States, served as a crucial mechanism for Iraq to collect and manage its oil revenues.
According to the letter, Iraq maintained this account with the US Federal Reserve Bank, allowing it to receive oil revenues in dollars and utilize them to cover essential expenses in accordance with agreements with the United States.
However, with the closure of the DFI account, Iraq's oil revenue is now being directed to a new account, referred to as IRAQ2. This transition raises concerns among experts, including finance and banking specialist Kamaran Qadir Yaqub, who warns that the protection previously afforded to Iraq's revenue may no longer be guaranteed.
Yaqub emphasizes the risk that IRAQ2 could be vulnerable to potential interference or manipulation by the United States, posing a significant threat to Iraq's financial stability.
In addition to the closure of the DFI account, the letter also sheds light on a contractual arrangement between Iraq and a US company for the transportation of dollars from the United States to Iraq. Under this contract, Iraq paid a security deposit of $441,000, with a transportation fee of $216,310 for each convoy of dollars.
The closure of the DFI account and the implications for Iraq's financial security highlight the complex dynamics of international financial relations and the vulnerability of countries reliant on oil revenue. As Iraq navigates these challenges, stakeholders closely monitor developments to assess the impact on the country's economic stability and future prospects.
Understandings between Iraq and the American Halliburton regarding oil and energy projects
The Ministry of Oil announced, on Monday, holding discussions with Halliburton, a global oil and energy services company, regarding joint projects in the oil and energy sector.
A statement by the Ministry of Oil stated, “Minister Hayyan Abdul Ghani received today the director of Halliburton , the international oil and energy services company in Iraq, Arup Deb Bramah, and the delegation accompanying him.”
The statement added, "The meeting discussed ways to strengthen bilateral relations and prospects for cooperation in implementing joint projects in the Iraqi oil and energy sector," noting that the meeting was held "in the presence of the Undersecretary for Extraction Affairs, Bassem Muhammad Khudair."
The American Halliburton Group, the second largest oil field services group in the world, began its work in Iraq after signing a contract to help develop 20 oil wells in the Zubair field in Basra, in 2010.
In July 2022, the Ministry of Oil said that the company was contributing to the drilling of 43 oil wells in the Majnoon field for the Basra Oil Company.
“Halliburton” had submitted an offer to buy ExxonMobil’s share in the West Qurna 1 oil field, in December 2021, and Reuters said at the time that “Iraq is reviewing Halliburton’s offer after completing all procedures with Exxon regarding the sale of its share in the West Qurna 1 field.”
The Central Bank warns against closing Iraq's account with the US Federal Reserve: it will put our money at risk (documents)
On Monday, the Central Bank of Iraq revealed the legal basis for depositing oil revenues in the US Federal Reserve.
According to documents issued by the bank and viewed by Shafaq News Agency, “The legal basis for depositing oil revenues in the Federal Reserve Bank of New York in the IRAQ2 account alternative to the DFI account is the expiration of the extension of the Executive Order issued by the US President No. 13303 issued in March 2003.” According to which immunity was granted to the Iraqi funds deposited in the Iraqi Development Account (DFI) at the time, and the end of the United Nations protection over Iraqi funds that was granted to it under UN Security Council Resolution No. 1483 of 2003 after the issuance of UN Resolution 1956 at the end of 2010.
The documents added, "Accordingly, an IRAQ2 account was opened, which is used to deposit funds from Iraqi crude oil exports, and they are transferred to the account of the Central Bank of Iraq at the Federal Reserve Bank within 24 hours of receiving these amounts to ensure that they are not exposed to the claims of creditors, as they are funds belonging to the Iraqi government derived from the export of crude oil." This mechanism was organized through a (memorandum of understanding) signed between the Iraqi Ministry of Finance and the Central Bank of Iraq on 6/2/2014 for the purpose of organizing the work of the IRAQ2 alternative account for the Development Fund for Iraq, and this memorandum is the legal basis for establishing the aforementioned account.
She continued, "The immunity granted in accordance with these two documents includes sovereign funds only and does not include funds used for commercial purposes."
The documents explained, “With regard to the answer to the third paragraph, foreign reserves may be deposited with several external parties, central banks and financial institutions, and not only in the Federal Reserve Bank, and interest rates vary according to the investment segment, the duration of the investment, and the institution with which the investment is made, in addition to the fact that the transport company is Orient is the company contracted by this bank to transport dollar shipments from the Federal Reserve Bank to Baghdad International Airport, with an insurance amount of (414,000) US dollars (four hundred and fourteen thousand US dollars per shipment, and transportation fees of (216,310) US dollars (two hundred and sixteen thousand three hundred and ten US dollars, Department of Parliamentary Affairs, Department of Parliamentary Oversight.”
She continued, "It is not possible to transfer the revenues from the sale of oil to the interior due to the impossibility of carrying out financial operations for Iraq if the funds are at home, and closing our account with the Federal Reserve Bank could expose Iraq to the risk of international claims, in addition to the inability to settle our payments in US dollars without the presence of... An account at the Federal Reserve Bank or other U.S. commercial bank.
text:
-3- Regarding the fourth paragraph, the revenues from the sale of oil cannot be transferred internally due to the impossibility of carrying out financial operations in Iraq if the money is internal, and closing our account with the Federal Reserve Bank could expose Iraq to the risk of international claims, in addition to the inability to settle our payments in dollars. The American does not exist
An account at the Federal Reserve Bank or another US commercial bank.
with respect.
the text:
Department of Investments and Foreign Transfers, front office
The Iraqi Crow Council
General central bank
Issue: 1464/3/5
Date: 2/14/2024
Resources
Prestige
The General Secretariat of the House of Representatives, the Parliamentary Affairs Department, the Parliamentary Oversight Department, a parliamentary question
Kind regards.... With reference to your letter, No. 9/1/2510, dated 2/26/2024, and attached to the letter from the office of Representative Engineer Adnan Al-Jabri, No. 210, dated 1/25/2024, we would like to state the following: -1- Regarding the answer. The first and second paragraphs are that the legal basis for depositing oil revenues in the Federal Reserve Bank of New York in the IRAQ2 account, alternative to the DFI account, is the expiration of the extension of Executive Order issued by the US President No. 13303 issued in March 2003, according to which he granted immunity to Iraqi funds deposited in The Iraq Development Account (DFI) at that time, and the end of the United Nations protection over Iraq’s funds that were granted to it under UN Security Council Resolution No. 1483 of 2003 after the issuance of UN Resolution 1956 at the end of 2010, and accordingly the IRAQ2 account was opened, which is used to create funds for Iraqi crude oil exports and are transferred. To the account of the Central Bank of Iraq at the Federal Reserve Bank within a period of 24 hours from receiving these amounts to ensure that they are not subject to creditor claims, as they are funds belonging to the Iraqi government derived from the export of crude oil. This mechanism was organized through a memorandum of understanding signed between the Iraqi Ministry of Finance and the Central Bank. The Iraqi Bank on 6/2/2014 for the purpose of organizing the work of the IRAQ2 alternative account for the Development Fund for Iraq, and that this memorandum is the legal basis for establishing the aforementioned account. The immunity granted in accordance with these two documents includes sovereign funds only and does not include funds used for commercial purposes.
2- Regarding the answer to the third paragraph, foreign reserves may be deposited with several external parties, central banks and financial institutions, and not only in the Federal Reserve Bank, and interest rates vary according to the investment segment, the duration of the investment, and the institution with which the investment is made. In addition, the carrier company is Orient Company, which this bank has contracted with to transport dollar shipments from the Federal Reserve Bank to Baghdad International Airport, with an insurance amount of (414,000) US dollars (four hundred and fourteen thousand US dollars) per shipment, and transportation fees of (216,310) US dollars. Two hundred and sixteen thousand, three hundred and ten US dollars, Department of Parliamentary Affairs. Parliamentary Oversight Department
Incoming
Affectionate
Date 4/2/20
Bank Center: Al-Rasheed Street - Baghdad - Iraq
Tel: 8165171 Central exchange with four lines)
P.O. Box 64, Fax: 0096418166802
Al-Sudani stresses to MPs the importance of passing laws that improve the investment environment
Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of proceeding with the adoption of laws aimed at improving the investment environment and developing the economy.
The Prime Minister’s media office stated in a statement received by “Al-Iqtisad News” that “Al-Sudani received a group of members of the House of Representatives,” noting that the Prime Minister “stressed the importance of integration and coordination between the executive and legislative authorities, in order to support the government’s work and its program that includes many priorities of concern.” Citizens and state institutions, by focusing on service and reform aspects in various fields.”
The Prime Minister pointed out "the importance of proceeding with the adoption of laws aimed at improving the investment environment, developing the economy, and meeting the terms of the reform adopted by the government, in order to strengthen and diversify the state's resources."
Washington confirms to Tehran that America was not aware of the bombing of the Iranian consulate in Damascus
Two American officials announced that the administration of President Joe Biden directly informed Tehran that it was not aware of the strike on the Iranian consulate in Damascus, and that Washington had no connection to it.
Two other American officials confirmed that the American administration was informed of the attack on the consulate while Israeli planes were flying in the air, according to what was reported by NBC.
They added that Washington has not yet received confirmation that the commander of the Revolutionary Guard’s Quds Force, Mohammad Reza Zahedi, was among those killed in the air strike, noting that the Revolutionary Guard had announced the killing of Zahedi, the commander of the Quds Force in Syria and Lebanon, his deputy, Mohammad Hadi Rahimi, and five accompanying officers. They were accused of what he said was an Israeli attack on his country's consulate in Damascus.
Earlier today, Israeli aircraft targeted the Iranian consulate building in Damascus, causing major damage to it, in addition to its neighboring buildings.
The Iranian ambassador to Damascus, Hussein Akbari, also confirmed that 5 to 7 people, including Iranian military advisors, who were hosted by the embassy, were killed as a result of the Israeli attack on the Iranian consulate building.
Iraq Stock Exchange: The launch of a new stock trading index is near
The Iraq Stock Exchange announced today, Tuesday, the imminent launch of a new stock trading index.
A statement from the authority received by Al-Eqtisad News stated, “The Securities Authority and the Iraqi Stock Exchange, after studying, analyzing and measuring the market index for traded stock prices, are preparing to launch a new index that operates under the title ISX15.”
The statement added, “The work and analysis team at the Securities Commission and the Iraqi Stock Exchange focused on measuring the new index and testing it on the experimental environment, and then starting the test on the real environment according to the most important principles, the most important of which is selecting a sample of companies for the best 15 companies in terms of continuing daily trading, as well as choosing the company’s weight.” Based on the market value of the free float shares, provided that the effect does not exceed 20% at best for a single company as a maximum, and adopting the same prevailing base session for the ISX60 index after adjusting its weight based on the free float shares, as well as other additional variables that will be presented in the index guide.”
The statement indicated that “the launch of a new index, ISX15, aims to adopt free stocks in dealing and trading for the purposes of measurement and influence, and the interest of the financial markets in launching a total index and a partial index to measure the impact on the movement of continuously traded stock prices, and to attract new investors and national and foreign investment portfolios,” indicating that “The Authority and the market continue to issue indicators and updates, in addition to positive follow-up and disclosure.”
Saleh: The 2024 budget schedules are being prepared according to the tripartite budget
Saleh told {Al-Furat News} agency, “The proposed financial schedules being prepared by the executive authority today are based on the financial legislation in force and approved in accordance with the aforementioned tripartite budget law.”
He stated that “presenting the financial tables for the fiscal year 2024 to obtain parliamentary approval for those tables, which include public revenues and expenditures, undoubtedly embodies a legislative path that we see in all cases as more flexible in the legislative process because the financial principles and constants have become an integral part of the Federal General Budget Law No. 13 of 2023 (the Tripartite), which is the law that was originally legislated by the House of Representatives and by a vote of the legislative authority and published in the Official Gazette last year.”
A few days ago, the Council of Ministers received the budget schedules from the Ministry of Finance, and began working on them to sign them and send them later to the House of Representatives.
The Parliamentary Finance Committee expects to resolve the budget schedules this month.
The Central Bank releases completion bonds in implementation of the budget
The Central Bank of Iraq launched “achievement bonds” in two categories, in implementation of the Financial Budget Law.
The Iraq Observer obtained a document in which the bank stated that it had launched “achievement bonds” in two categories, in implementation of the general financial budget law for the years 2023-2024-2025, while specifying their value and the amount of interest for each category of bonds.
Payment cards cause chaos at Baqubah stations.. Drivers complain of “draining their pockets”
Gas stations in the city of Baquba, the center of Diyala Governorate, have been witnessing for days the payment machines rejecting hundreds of electronic payment cards for vehicle drivers while filling gasoline and paying its purchase amount.
According to citizens who spoke to Shafaq News Agency, “the financial payment machines at gas stations reject citizens’ cards, as a small number are accepted and the majority are rejected, prompting them to go to a company close to the station to buy a payment card for sums of money, and then the device accepts it immediately without problems.” .
Private company card
Citizen Saif Al-Majma’i said, “The payment machines at the Ashnouna station, which is the largest fuel filling station in Baqubah, reject more than half of the cards, according to our daily observations, as the cards of most employees, retirees, and others are rejected, forcing them to go to a kiosk near the station to buy a special electronic card.” With a specific company and operating smoothly.”
Al-Majjami added to Shafaq News Agency, “The stations appear to have a contract with this company, and the payment devices in the stations belong to this company, and therefore they reject many cards belonging to government banks and others, and accept the cards they sell to citizens at a price of 10 - 12 thousand dinars per card in addition to an amount Shipping and commission.”
In a related context, citizen Ali Al-Nasiri told Shafaq News Agency, “Many citizens, myself included, believe that there is collusion between government agencies and the payment company contracted with Baquba stations for all of this to happen.”
He pointed out that "the salary card of the Rafidain Bank (colored green) was rejected three times at the station, and when I refrained from going to the company near the Ashnouna station, and went directly to the Rafidain Bank to inquire, the bank employee told me that I must obtain a new personal card." From the bank, I actually obtained a black card from the bank for 10,000 dinars as well. It was activated normally and I filled up my car without rejection.”
Al-Nasseri stated, "These procedures drain the citizen's pocket in all cases, whether through private companies or through government banks, and the machines at the stations are supposed to accept all cards without problems."
Government response
For his part, the Director of Petroleum Products in Diyala, Amer Al-Saadi, confirmed to Shafaq News Agency, “There are reports documented by our department regarding the problems facing citizens at stations when filling regular and improved gasoline.”
Al-Saadi added, "The company being talked about is called Amwal, and it has a contract with the Petroleum Products Company and government banks. We submitted a report on what is happening to the higher authorities and issued a warning to the company for its delay in working."
He pointed out that "the Petroleum Products Branch in Diyala took the necessary measures and sent official communications regarding the cases that occurred to decide on them."
Al-Saadi stressed that “oil products in Diyala provided all necessary facilities to citizens within the vision and directives of the Prime Minister, the Ministry of Oil and the General Company, and all technical problems are being addressed as the matter is still in its infancy in order to accept all types of cards, while an official directive was issued to receive the rejected cases and attach them to a report for our auditors.” Cash money is taken for emergency and rejected cases only after being evaluated by the stations.”
Russian Ambassador: America does not want to leave Iraq and will resist through blackmail
The Russian ambassador to Iraq, Elbrus Kutrashev, confirmed on Tuesday that there are no real American intentions regarding the American withdrawal from Iraq.
Kutrashev said in an interview followed by Mawazine News: “The number of members in the media department of the American Embassy is many times greater than that of the entire Russian embassy.”
He added, "America does not want to leave Iraq and will resist at every opportunity, including resorting to blackmailing the Iraqi government, while the presence of foreign forces negatively affects the security and stability of Iraq and the region."
He pointed out that “Al-Hawl camp in Syria is one of the American “blackmail” methods, and the American presence cannot continue because the Iraqi army is “strong” and capable of filling the void of foreign forces.”
He explained that "the volume of Russian investment in Iraq amounts to 19 billion dollars, and that Russia is the largest "foreign investor" inside Iraq and its spokesperson."
Parliamentary Finance determines the reason behind the delay in sending the 2024 budget schedules
Member of the Parliamentary Finance Committee, Representative Jamal Kujar, on Tuesday, attributed the reason for the delay in sending the 2024 budget schedules to Parliament to the lack of solutions to the high financial deficit.
Cougar told “Al-Ma’louma” that “the completion of the budget schedules was disrupted due to the high ceiling of the fiscal deficit, which led to a delay in sending it to Parliament,” pointing out that “there are no solutions to the high fiscal deficit, so the tendency has been to reduce public spending.”
He added, "The ceiling for projects in 2024 will be lower than last year, and therefore it will prevent the inclusion of any new project in the budget and sufficiency of ongoing projects. This will deprive the governorates of new projects due to the deficit."
A member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, confirmed to Al-Maalouma yesterday, Monday, that the government had raised the value of the budget from 199 trillion to 228 trillion, which made the deficit large, while it was likely that the budget tables would be submitted to Parliament after the blessed Eid al-Fitr holiday.
Deputy: Iraq is financially poor and some of its ministries do not have cash for tea
link so they are holding on to every dinar until that rate changes? hahaha
Member of the House of Representatives, Habib Al-Halawi, confirmed that there are ministries that do not have the funds to meet the needs of refugees.
Al-Halawi said in a televised interview followed by Mawazine News: “The projects that are in progress in Baghdad Governorate are projects that collect all of Iraq’s money.”
He added, "The projects being worked on in other Iraqi governorates are lagging projects and have been reworked and are not new projects."
He pointed out that "Iraq currently has very little money, and the evidence is that there are ministries that do not have petty cash."
Al-Sawadni’s visit to Washington exposes the separatist.. The corridors of the region are failing, and America closes the door in Barzani’s face
The Kurdistan Regional Government is using the "Kurdish lobby" and its political agendas in Washington in order to move towards thwarting the reception of Al-Sawadni in Washington in the middle of this month, in order to complicate the situation and try to put pressure on the central government through Washington, which does not hesitate to create crises as well, especially After Biden refused to receive Barzani.
Given the complexity of relations between the region and the center after a number of legal and constitutional decisions in which the Federal Court ended the region’s violations, the trillion-dollar thefts in the port revenue file and the smuggling of oil abroad in isolation from Baghdad, the Sudanese government’s acquisition of power and external support will make it fully control the situation at home. .
Documents emerged from within the US Congress, revealing letters from lawmakers to Biden expressing their deep concern about his invitation to host Iraqi Prime Minister Muhammad Shia al-Sudani, despite Biden’s refusal to meet with Kurdistan Prime Minister Masrour Barzani.
*Government response?
Speaking about this file, the State of Law coalition calls on the government to take action against the position of the Kurdistan Regional Government, which seeks to thwart Al-Sudani’s expected visit to Washington, while stressing that the separatist feeling has not left Barzani’s government until now.
The leader of the coalition, Saad Al-Muttalabi, said in an interview with the Maalouma Agency, “The region is trying to add fuel to the fire by inciting Iraq’s policy against the expansion of the Zionist entity in the Middle East,” noting that “the visit will be protocol and all outstanding issues will be discussed.”
He continues, "The Barzani government's move must be faced with executive decisions to end such violations that may hinder the government's work in the coming period," adding that "the government is proceeding according to a policy of containing crises with the region and other parties."
He added, "The movement of some politicians affiliated with Kurdistan towards requesting that Al-Swadani not be received in Washington violates the approved political norms," pointing out "the need for the central government to move against the position of the Kurdistan Regional Government, which seeks to thwart Al-Sudani's expected visit to Washington."
*Deteriorating situation
In addition, the political analyst, Atheer Al-Sharaa, confirms that the internal disputes of Kurdistan have had a negative impact on the relationship with the central government, adding that Barzani is trying, through his close relationship with Washington, to create a gap that worsens the situation with Baghdad.
Al-Sharaa said in an interview with the Maalouma Agency, “Al-Sawadni’s upcoming visit will determine the quality of the relationship by the number of joint committees that discussed many files,” noting that “the region does not like to strengthen the Sudanese government as a result of not submitting to the policy that they were trying to impose on Baghdad.” ".
He continues, "The region continues, by all means, to obstruct the completion of Sudanese's visit to Washington, as a reaction to the recent Federal Court decisions," pointing out that "there are internal and external parties seeking to obstruct the wheel of progress that the current government is moving toward."
Al-Sharaa concludes his speech: “The current government’s ability to improve foreign relations will make it completely in control at home,” stressing that “Barzani is trying, through his close relationship with Washington, to create a gap and worsen the situation with Baghdad.”
The regional government continues to strengthen its suspicious relations with the United States of America and the Zionist entity in order to use it to strike the decisions of the central government in Baghdad, and this is what politicians considered to be the hidden work of countries that are hostile to Iraq.
Government approval to reduce Iraq's external debt to $8.9 billion
On Tuesday, the Council of Ministers approved reducing the current external public debt, amounting to $10.5 billion, to $8.9 billion.
A statement by the Council’s media office, seen by Al-Iqtisad News, stated that “The Council of Ministers held its 14th session during the year 2024, and during the session the recommendation of the Ministerial Council for the Economy (24207) for the year 2024 was approved, which includes the approval of the Diwaniyah Order Committee’s recommendation 23942, related to foreign debts.” Pointing out that "the recommendation included a study by the Ministry of Planning of the projects canceled from loans, to examine the possibility of including them with funding sources from the federal general budget."
The statement added: “The Ministry of Finance will check the existence of any financial obligations that may result from canceling these projects with the loan donors when implementing the decision, in addition to canceling delayed loans, worth $1.05 billion, and completing important projects from government funding sources.”
The statement indicated, "Cancelling borrowing requests worth $5.8 billion for the Basra water desalination and sky train projects, financing the first project from the regional development budget, and financing the second project by offering it for investment, in addition to redirecting World Bank loans to lagging projects and other surpluses towards implementing the railway connection project." (Faw - Rabia - Fishkhabour) Bio.
According to the statement, the recommendation included “contracting with an international financial consultant to audit and manage foreign debts in the future.”
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