Al-Sudani returns to Baghdad after concluding his participation in the UN meeting
He delivered the speech of Iraq, and held a series of meetings, dialogue sessions, and press interviews, as follows:
■ Delivering Iraq’s speech at the Future Summit held on the sidelines of the United Nations General Assembly meetings.
■ Meeting with the King of the Hashemite Kingdom of Jordan, King Abdullah II bin Al Hussein.
■ Meeting with Turkish President Recep Tayyip Erdogan.
■ Meeting with the President of the Republic of Cyprus, Nikos Christodoulides.
■ Receiving the President of the Republic of Kenya, William Ruto.
■ Receiving the Chairman of the Presidential Leadership Council of the Republic of Yemen, Rashad Muhammad Al-Alimi.
■ Receiving the Crown Prince of the State of Kuwait, Sabah Khaled Al-Hamad Al-Sabah.
■ Receiving Lebanese Prime Minister Najib Mikati
■ Meeting with Dutch Prime Minister **** Schoof.
■ Receiving Italian Prime Minister Giorgia Meloni.
■ Meeting with Pakistani Prime Minister Shehbaz Sharif
■ Reception of Greek Prime Minister Kyriakos Mitsotakis.
■ Receiving the Prime Minister of Somalia, Hamza Abdi Barre.
■ Meeting with UN Secretary-General Antonio Guterres.
■ Receiving US Secretary of State Anthony Blinken.
■ Meeting with the United Nations High Commissioner for Human Rights, Volk Türk, at the United Nations Headquarters.
■ Reception of the Director General of the International Organization for Migration (IOM), Amy Pope.
■ Reception of the Executive Director of the United Nations Children's Fund/UNICEF, Catherine Russell
■ Receiving the Secretary-General of the Digital Cooperation Organization, Dima Al-Yahya.
■ Receiving the Executive Secretary of the Economic and Social Commission for Western Asia (ESCWA) at the United Nations, Rola Abdullah Dashti.
■ Receiving the US Deputy Secretary of the Treasury, Wally Adeyemo.
■Receiving the US President's Envoy for Kidnapped Affairs, Ambassador Roger Carcinez.
■ Receiving the CEO of Dubai Ports, Sultan Ahmed bin Sulayem.
● Participation in a dialogue session held within the framework of the 14th Concordia Summit.
● Participation in the dialogue session held by the American Chamber of Commerce and the Monitor.
TV interview with CNN.
Interview with the New York Times.
Prime Minister leaves New York for Baghdad
Prime Minister Mohammed Shia Al-Sudani left New York heading to Baghdad.
The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA), that "Prime Minister Mohammed Shia al-Sudani left New York heading to the capital, Baghdad, after concluding his participation in the meetings of the 79th session of the United Nations General Assembly."
Highlights of the dialogue session attended by Al-Sudani in New York
Prime Minister Mohammed Shia al-Sudani participated in a dialogue session held in New York after midnight on Wednesday, by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council.
During the session, His Excellency pointed to the new reality of Iraq, which is witnessing an economic and developmental renaissance in all its sectors, and has also taken great strides in the field of energy investment and associated gas, which had been wasted for years and cost the country losses estimated at billions of dollars, due to the import of gas and oil derivatives.
Mr. Al-Sudani stressed that the government has embarked on a series of rapid projects, including the important agreement with Total, which will contribute to increasing oil production and investment in associated gas by about (600) million standard cubic feet, in addition to offering the fifth and sixth rounds appendix, and entering into contracts for oil production and gas investment, indicating that after 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as rehabilitating the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, and its production capacity is 150 thousand barrels per day.
The following are the most prominent points made by the Prime Minister during the dialogue session:
- When I assumed my duties as head of the government, the investment in associated gas was less than 40 percent, and now the percentage has risen to about 70 percent.
- We have finished importing oil derivatives, and we will stop importing gasoline at the beginning of next year, after completing the FCC project in Basra.
- We are ready to enter into a partnership with American companies in the oil industry sector.
- Our vision is to convert 40% of exported oil into transformation industries, which will give us more benefits than selling crude oil.
- Our policy is based on diversifying the contracting parties that invest in our oil and gas fields without specific conditions.
- The licensing round procedures are clear and transparent and do not favor or favor one company over another.
- Development cannot be achieved without a solid banking sector that operates according to approved international standards, and 95% of financial transfers in Iraqi trade are conducted through reliable banks.
- The currency sales window will be closed at the end of this year, and the money laundering office at the Central Bank is operating effectively.
- The government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizens' confidence in banks and expanded financial inclusion.
- Iraq is currently going through an unprecedented stage of stability and recovery since 2003, which is an opportunity to support the transition from a stage of wars and conflicts to a stage of development and stability.
- A stable Iraq in a sensitive region is beneficial to the world, which is what we have witnessed since October 7, as Iraq has maintained a great balance and calm, and we have kept Iraq away from the arena of conflict.
/ Our security forces have reached an advanced stage of capability and efficiency, and we have started an armament program to enhance their capabilities, and ISIS today does not represent a threat to our security.
- We need American small and medium-sized companies to form partnerships with Iraqi companies.
- We are working to create job opportunities for young people by activating the private sector or supporting their private projects, through several programs, including the (Riyada) initiative.
- The size of the projects granted for investment will provide a large number of jobs, and it is necessary for companies operating in Iraq to open training centers to develop the capabilities of young people.
- We stressed to companies operating in the electricity sector the establishment of stations maintenance centers in order to speed up completion and reduce costs.
- The government has a clear direction to support the agricultural sector, and farmers and farmers are in a transitional phase to use modern irrigation technologies that we supported by 30%.
- We provided loans to workers in the food industries sector of various types, part of which is covered by sovereign guarantees.
- The Central Bank has independence and exercises its powers with complete professionalism, and we intend to establish a new bank that adopts the latest technologies.
- We invite all companies operating in the field of electronic payment to work in Iraq and we will provide them with all facilities.
- We have developed a plan to develop the infrastructure, with allocations of up to 83 billion dollars.
Al-Sudani issues banking directives, including suspending capital increases for banks subject to US sanctions
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A government source revealed, on Thursday, that Prime Minister Mohammed Shia al-Sudani issued directives related to financial and banking reforms, including not increasing the capital of banks subject to US sanctions.
The source told Shafaq News Agency, "Prime Minister Mohammed Shia al-Sudani, before leaving for New York, held a number of meetings with banks and the Central Bank of Iraq, where those meetings discussed in detail the Central Bank of Iraq's plan to rehabilitate private banks by contracting with an international consulting company."
He explained that "the Prime Minister directed a number of points, on the importance of the plan for developing private banks by Oliver Wyman Company being clear in terms of timing, distribution of responsibilities, and issuing progress reports in this regard."
The directives included "accelerating the implementation of the recommendations issued by the Ministerial Council for the Economy to support Iraqi banks, including delaying the increase in capital for banks banned from dealing in dollars by the US Treasury."
The source indicated that Al-Sudani also directed "the preparation of a study to activate the local cards project internally, as well as urging Iraqi ministries and institutions to increase dealings with licensed Iraqi banks in various banking services and open accounts with them."
Last Monday evening, Iraqi Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of officials from the Treasury Department, according to a statement received by Shafaq News Agency.
The meeting witnessed discussion of bilateral economic relations between the two countries in various vital sectors, review of the government's efforts and plans for economic and financial reform, the move towards diversifying sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering.
Al-Sudani stressed that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government’s approach and its commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq.
For his part, Adeyemo praised the progress witnessed by Iraq in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6 % , which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development.
Enhancing Transparency: Rafidain Barcode System for Iraqi and Foreign Company Incorporation Certificates
Rafidain Bank announced, today, Thursday, the adoption of the health of the issuance system via the electronic barcode system for certificates of establishment for Iraqi and foreign companiesThe bank's media stated in a statement received by {Al Furat News}, "Based on government directives to simplify procedures and automate data, Rafidain Bank announces the adoption of the issuance health system via the electronic barcode system for certificates of incorporation for Iraqi and foreign companies, in addition to working on the search, investigation and inquiry system via OFAC lists and lists affiliated with the Committee for Freezing Terrorist Funds (local and international)."
He added: "The aim of these procedures followed by the bank is to inquire and verify companies that have indicators of sanctions and bans, whether local or international, so the bank follows due diligence procedures to audit in accordance with Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015 and take the necessary precautionary measures."
The bank confirms that the advantage of the barcode system lies in linking the bank and its branches to the ministry’s departments and cancelling the paper certificate verification process and transferring it electronically, saving time and speeding up the completion of transactions without resorting to the previous routine cycles.
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Including liquidation and guardianship... a series of decisions issued against Iraqi private banks
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n Thursday, a number of decisions were issued against a number of Iraqi private banks, but they were delayed. The source said in an interview withSumerianNews, "BankBabylonIt was referred to forced liquidation, and the bank was placed under guardianship.ArabicIslamic and Bankthe EastMiddle EastIraqiFor investment.
The source pointed out that "the guardianship period of the bank has been extended."NorthUntil October 31st, noting that “the decisions issued on the aforementioned banks were postponed without knowing the reasons.”
Al-Sudani meets the Cypriot President in New York
Prime Minister Mohammed Shia Al-Sudani met on Wednesday evening (Baghdad time) with the President of the Republic of Cyprus, Nikos Christodoulides, on the sidelines of his participation in the 79th session of the United Nations General Assembly.
His Excellency stressed the keenness to strengthen bilateral relations and cooperation in various sectors, openness to political consultations and the formation of bilateral committees, and support for investment and partnerships in all fields. His Excellency extended an invitation to the Cypriot President to visit Iraq. The
Prime Minister explained the importance of coordinating positions towards the current escalation in Gaza and Lebanon, stressing the need for Cyprus to exercise its role as a member of the European Union, and to push towards respecting international laws that are being violated in an unprecedented manner, in addition to ignoring the United Nations resolutions, which leads to a breach of the governing covenants, charters and humanitarian norms.
For his part, the Cypriot President expressed his welcome and readiness to accept the invitation to visit Iraq, and exchanged views with the Prime Minister on ways to resolve the current crisis and prevent its expansion. He also expressed the readiness of Cypriot companies to work in Iraq, as well as his country's readiness to cooperate in order to serve common issues and interests.
Iraq expresses readiness to enter into partnership with America in the oil industry sector
Prime Minister Mohammed Shia al-Sudani expressed, on Thursday, Iraq's readiness to enter into a partnership with American companies in the oil industry sector, revealing at the same time his government's intention to establish a new Iraqi bank.
This came during his participation in New York, after midnight on Wednesday, in a dialogue session held by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council.
Al-Sudani said during the dialogue session that the government has embarked on a series of rapid projects, including the important agreement with Total, which contributes to increasing oil production and investment in associated gas by about (600) million standard cubic feet, in addition to offering the fifth and sixth rounds’ appendix, and entering into contracts to produce oil and invest in gas.
He pointed out that after 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as rehabilitating the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, and its production capacity reaches 150 thousand barrels per day.
He added, "We have finished importing petroleum derivatives, and we will stop importing gasoline at the beginning of next year, after completing the FCC project in Basra," adding, "Our vision is to convert 40% of the exported oil into transformation industries, which will give us more benefits than selling crude oil."
Al-Sudani touched on the banking sector in Iraq, pointing out that development cannot be achieved without a solid banking sector that operates according to approved international standards, and 95% of financial transfers in Iraqi trade take place through reliable banks.
He stressed that the currency selling window will be closed at the end of this year, and the money laundering office at the Central Bank is working effectively, noting that the government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizens’ confidence in banks and expanded financial inclusion.
The Prime Minister continued, saying: The Central Bank has independence and exercises its powers with complete professionalism, and we intend to establish a new bank that adopts the latest technologies.
Al-Sudani called on all companies working in the field of electronic payment to work in Iraq and we will provide them with all facilities, concluding by saying that we have developed a plan to develop the infrastructure, with allocations reaching 83 billion dollars.
Minister of Finance participates in Asian Infrastructure Investment Bank meetings
Minister of Finance Taif Sami, Governor of Iraq, participated in the ninth annual meeting of the Asian Infrastructure Investment Bank (AIIB), which was held on September 25-26, 2023 in Samarkand, Republic of Uzbekistan.
A statement by the Ministry of Finance stated that under the slogan "Building Infrastructure for All", the Minister participated in the Governors' Roundtable meetings, including the official session and the general session, with the participation of 109 countries.
According to the statement, this meeting is the second for Iraq since joining the bank, as it aims to rehabilitate and develop infrastructure, especially in the fields of industry, transportation and energy.
The step of Iraq's joining the Asian Bank comes with the aim of deepening cooperation and enhancing communication between Asia and the countries of the world, in addition to stimulating investments and financing infrastructure projects in light of global financial crises.
Currency selling window will close at the end of the year.. Al-Sudani: We intend to establish a new bank that adopts the latest technologies
Prime Minister Mohammed Shia al-Sudani confirmed from New York that the currency sale window will close at the end of this year, while revealing the government's intention to establish a new bank that adopts the latest technologies.
The Prime Minister's media office stated in a statement received by Noon News Agency, "Prime Minister Mohammed Shia al-Sudani participated in New York, after midnight on Wednesday, in a dialogue session held by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council."
During the session, he referred to "the new reality of Iraq, which is witnessing an economic and developmental renaissance in all its sectors, and has also taken great strides in the field of energy investment and associated gas, which had been wasted for years and cost the country losses estimated at billions of dollars, due to the import of gas and petroleum derivatives."
He stressed that "the government has embarked on a series of rapid projects, including the important agreement with Total, which will contribute to increasing oil production and investment in associated gas by about (600) million standard cubic feet, in addition to offering the fifth and sixth rounds' annex, and entering into contracts to produce oil and invest in gas," indicating that "after 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as rehabilitating the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, and its production capacity is 150 thousand barrels per day."
The Prime Minister said during the dialogue session: “When I assumed my duties as Prime Minister, the investment in associated gas was less than 40 percent, and now the percentage has risen to about 70 percent.”
He added: "We have finished importing petroleum derivatives, and we will stop importing gasoline at the beginning of next year, after completing the FCC project in Basra."
He continued: "We are ready to enter into a partnership with American companies in the oil industry sector," indicating that "Iraq's vision is to convert 40% of exported oil into transformation industries, which will provide more benefits than selling crude oil."
He pointed out that "the government's policy is based on diversifying the contracting parties that invest in our oil and gas fields without specific conditions," noting that "the procedures for the licensing round are clear and transparent and there is no favoritism or preference for one company over another."
He added, "Development cannot be achieved without a solid banking sector that operates according to approved international standards, and 95% of financial transfers in Iraqi trade take place through reliable banks."
He explained that "the currency selling window will be closed at the end of this year, and the money laundering office at the Central Bank is working effectively," noting that "the government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizens' confidence in banks and expanded financial inclusion."
He stressed that "Iraq today is going through an unprecedented phase of stability and recovery since 2003, and it is an opportunity to support the transition from a phase of wars and conflicts to a phase of development and stability," noting that "a stable Iraq in a sensitive region is beneficial to the world, which is what we have seen since October 7, as Iraq has maintained a great deal of balance and calm, and we have kept Iraq away from the arena of conflict."
He pointed out that "the security forces have reached an advanced stage of capability and efficiency, and we have started an armament program to enhance their capabilities, and ISIS today does not represent a threat to our security," pointing to "the need for American small and medium-sized companies to form partnerships with Iraqi companies."
He added: "We are working to create job opportunities for young people by activating the private sector or supporting their private projects, through several programs, including the (Riyada) initiative," noting that "the size of the projects granted for investment will provide a large number of jobs, and the necessity for companies operating in Iraq to open training centers to develop the capabilities of young people."
He continued: "We have confirmed to the companies operating in the electricity sector the establishment of stations maintenance centers in order to speed up completion and reduce costs," indicating that "the government has a clear direction to support the agricultural sector, and farmers and growers are in a transitional phase to use modern irrigation technologies that the government has supported by 30%."
He added: "We provided loans to workers in the food industries sector of various types, and part of them are covered by sovereign guarantees," noting that "the Central Bank has independence and exercises its powers with complete professionalism, and there is an intention to establish a new bank that adopts the latest technologies."
He called on "all companies working in the field of electronic payment to work in Iraq," stressing "providing them with all facilities."
He concluded, "We have developed a plan to develop the infrastructure, with allocations amounting to $83 billion."
Al-Atwani: Agreement with the regional government to review its oil contracts to adapt them constitutionally
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced today, Thursday, an agreement with the Kurdistan Regional Government to review its oil contracts to adapt them constitutionally.The media office of the Council of Representatives stated in a statement received by the Iraqi News Agency (INA) that "the parliamentary finance committee delegation currently visiting Erbil, headed by Atwan Al-Atwani, held an expanded technical meeting with representatives of the Kurdistan Regional Government, today, Thursday, in the building of the Council of Ministers of the region; to discuss resolving the outstanding issues between Baghdad and Erbil."
Al-Atwani said - according to the statement: "The meeting reviewed the files of oil, financial revenues, automation of border crossings, unification of customs tariffs, and localization of employees' salaries."
He added, "We have developed a roadmap to resolve the points of contention between the central government and the regional government regarding the oil export file."
Al-Atwani confirmed that "the attendees reached an initial agreement with the regional government to conduct a comprehensive review of oil contracts to adapt them to the Iraqi constitution, in preparation for resolving the problem of the region's halt in oil exports," explaining that "the agreement stipulates that the central government and the regional government enter as a unified party in negotiations with international oil companies operating in the region; with the aim of amending their contracts from production partnership to profit-sharing, in addition to reviewing the economic and commercial conditions."
He pointed out that "the parliamentary finance committee is working to establish a sound basis for negotiating a solution to the outstanding issues, in order to resolve the oil export file during this year and eliminate the differences with the region," stressing that "the committee will meet with the federal oil ministry upon its return to Baghdad, in order to discuss the controversial issues and push towards resolving them under the umbrella of the constitution."
Al-Atwani continued, "The meeting reviewed, in numbers, the steps for implementing the file of localizing the salaries of the region's employees, where the necessity of adhering to the decisions of the Federal Court was emphasized."
Al-Atwani pointed out - according to the statement - that "the meeting also discussed the file of border crossings, customs and taxes, and ways to include their revenues in the country's general budget, and the extent of the regional government's commitment to sending these funds to the federal government."
Regarding oil contracts.. An “important” agreement on the table of Baghdad and Erbil
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced today, Thursday, an agreement with the Kurdistan Regional Government to review its oil contracts to adapt them constitutionally.
The media office of the Council of Representatives stated in a statement received by “Iraq Observer” that “the delegation of the Parliamentary Finance Committee, which is currently visiting Erbil, headed by Atwan Al-Atwani, held an expanded technical meeting with representatives of the Kurdistan Regional Government, today, Thursday, in the building of the Council of Ministers of the region; to discuss resolving the outstanding issues between Baghdad and Erbil.”
Al-Atwani said, “The meeting reviewed the oil files, financial revenues, automation of border crossings, unification of customs tariffs, and localization of employees’ salaries.”
He added, "We have developed a roadmap to resolve the points of contention between the central government and the regional government regarding the oil export file."
Al-Atwani confirmed that “the attendees reached an initial agreement with the regional government to conduct a comprehensive review of the oil contracts to adapt them to the Iraqi constitution, in preparation for solving the problem of the halt in the region’s oil exports,” explaining that “the agreement stipulates that the central government and the regional government enter as a unified party in negotiations with international oil companies operating in the region; with the aim of amending their contracts from production partnership to profit-sharing, in addition to reviewing the economic and commercial terms.”
He pointed out that “the parliamentary finance committee is working to establish a sound basis for negotiating a solution to the pending issues, in order to resolve the oil export file during this year and eliminate the differences with the region,” stressing that “the committee will meet with the federal oil ministry upon its return to Baghdad, in order to discuss the controversial issues and push towards addressing them under the umbrella of the constitution.”
Al-Atwani continued, "The meeting reviewed, in numbers, the steps for implementing the file of localizing the salaries of the region's employees, where the necessity of adhering to the decisions of the Federal Court was emphasized."
Al-Atwani pointed out that “the meeting also discussed the file of border crossings, customs, and taxes, and ways to include their revenues in the country’s general budget, and the extent of the regional government’s commitment to sending these funds to the federal government.”
Expert comments on the return of the dollar exchange rate in Baghdad
Today, Thursday (September 26, 2024), Mustafa Hantoush, a researcher and specialist in financial and banking affairs, commented on the return of the dollar exchange rate to rise in Baghdad.
Hantoush said in an interview with Baghdad Today, "The dollar exchange rate in the local market is neither constantly rising nor constantly falling, but rather fluctuating, which means that solutions are possible to control this price, and the government has begun working on some solutions, including the directives of Prime Minister Mohammed Shia al-Sudani to return banking competition and not monopolize dollar transfers and others on some banks, as this competition will lead to greater stability in the exchange rate of the Iraqi dinar against the dollar."
He explained that "there is a government trend to support the Iraqi banking system so that there are no specific banks controlling foreign transfers, and this is a good and important step, in addition to developing international financial and banking relations, especially with the American side through the Prime Minister's meeting with the US Deputy Secretary of the Treasury and discussing the status of the banking system and the dollar, and the meeting of the Central Bank of Iraq less than a month ago with the Treasury and the agreement to contract with the consulting company (Olver Wyman) to review the status of the Iraqi system (restricted by the dollar), which is supposed to sign a contract with it soon, which will have a positive impact on the dollar exchange rate file, and this matter reassures the street and reassures the market."
He added, "The Iraqi government can work to create an official platform for the issue of trade with Iran and Syria using remittances or gold, in order for imports to be legal, and this reduces the great demand for the dollar through the parallel market, which is the main reason for the dollar's rise above its official price."
The US dollar exchange rate witnessed a significant increase in the past few days, reaching 152 thousand Iraqi dinars for every 100 US dollars in the main stock exchanges in the capital, Baghdad, as well as in the local markets, after it had recently witnessed a decline of 147 thousand dinars
Prime Minister: Iraq is witnessing an urban and economic renaissance and revitalization of the industrial and agricultural sectors
Prime Minister Mohammed Shia al-Sudani received an official invitation to visit Islamabad on Thursday from his Pakistani counterpart, Shehbaz Sharif.
The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani met - this evening, Thursday (Baghdad time) in New York - with Pakistani Prime Minister Shehbaz Sharif, on the sidelines of his participation in the 79th session of the United Nations General Assembly."
He added that "the meeting witnessed discussions on the overall bilateral relations and ways to develop them in various fields, in addition to discussing the latest developments in the aggression in Gaza and Lebanon and the efforts made to stop the war of genocide against the Palestinians and protect brotherly Lebanon and its secure people."
Al-Sudani explained to his Pakistani counterpart - according to the statement - "Iraq's desire to deepen the relationship with Pakistan in various fields, and that the government is following an open policy on all steps of economic partnership, just as Iraq is witnessing an urban and economic renaissance and the revitalization of industrial and agricultural fields, in addition to the deep desire to open the doors of constructive partnerships with brotherly and friendly countries."
He touched on "the pivotal efforts undertaken by Iraq to prevent the escalation of the situation in the region and stop the aggression, including the initiative to call for an Islamic summit that unites the ranks of Islamic countries, especially Pakistan, in order to prevent the situation from sliding into a comprehensive war and protect the steadfast Lebanese and Palestinian peoples."
For his part, Shehbaz Sharif extended an invitation to Al-Sudani to "visit Islamabad in order to establish more foundations for cooperation and partnership between the two countries and expand trade exchange agreements."
He expressed his "support for the Iraqi initiative calling for an Islamic summit to consider the current aggression on Lebanon and Palestine, and formulate a unified position regarding the ongoing massacre of the Palestinian people and the attempts to expand the war by the occupation government."
Government advisor reveals the size of Iraq's external debts that must be paid
The financial advisor to the Prime Minister, Mazhar Mohammed Salih, revealed on Thursday that Iraq's external debts due do not exceed ten billion dollars.
Saleh told Shafaq News Agency, "Iraq's external debts due do not exceed ten billion dollars, and there are financial allocations in the federal general budget to pay them off."
He explained that "the external debts are from the settlements of the Paris Club agreement debts and date back to before 1990, whether for the foreign private sector or sovereign debts, and they must be extinguished by the year 2028."
Saleh stressed that "the small external debts of Iraq made it have a high financial creditworthiness, which is classified by companies such as the American SNB."
In 2004, the Paris Club announced a comprehensive settlement to reduce Iraq’s $120 billion debt by 80% in three stages. These debts were incurred by the country as a result of the former regime resorting to borrowing money, weapons, and goods from Arab and European countries, America, and others during the 1980s to perpetuate the war with Iran.
Parliamentary Committee: There are people controlling investment in Iraq
Member of the Parliamentary Investment Committee, Suzan Mansour, demanded today, Wednesday, that state assets be kept far away from investment, while pointing out that government oversight is absent in this file.
Mansour said in a statement to the Al-Maalouma Agency, “There are concerned people who control investment in Iraq, and we will work during the coming period to put an end to this issue that has greatly harmed the country.”
She added that "the country's assets have been sold recently, and this is a very dangerous matter, as hands are reaching out to the state's assets, and there is no land in Iraq that has not been transferred for investment," noting that "government Overview of this file is completely absent."
She added: “There are many exceptions that were granted in the past few days in an exaggerated manner and have increased significantly during the recent period,” explaining that “this issue will soon be resolved under the dome of Parliament.”
Observers believe that the money generated from the sale of state assets will cause financial problems and pose many challenges that cannot be overcome at all, including a further deterioration of the budget deficit and a sharp decline in the value of the currency.
It has nothing to do with the Lebanese crisis." An expert explains the reasons for the dollar's return to rise in Iraq
Economic expert Nasser Al-Kanani explained, today, Thursday (September 26, 2024), the reasons for the return of the rise in the dollar price in Iraq, indicating that the rise has nothing to do with the current Lebanese crisis.
Al-Kanani said in an interview with Baghdad Today, "The crisis in Lebanon has no impact on the issue of the rise of the dollar in Iraq. The current rise is due to the increase in demand for the dollar in the parallel market, which is due to the increase in imports illegally and outside the platform through Iran, Syria, and others."
He added, "Iraq has good and positive relations with the United States of America, especially recently, and there is a development in the financial relationship with the Federal Bank and the US Treasury, and Washington cannot take anything against Iraq in response to support for Lebanon or Gaza, as long as Iraq is committed to what Washington wants regarding foreign transfers and preventing the issue of currency smuggling and others."
The US dollar exchange rate witnessed a significant increase in the past few days, reaching 152 thousand Iraqi dinars for every 100 US dollars in the main stock exchanges in the capital, Baghdad, as well as in the local markets, after it had recently witnessed a decline of 147 thousand dinars.
Exchange companies: A coming jump in the dollar exchange rate.. It will reach 160 thousand dinars
The representative of the exchange companies, Diaa Al-Taie, expected the dollar exchange rate to reach 160 thousand dinars for every 100 dollars in the coming few days.
Al-Taie attributed this to the punishment of banks, the response of Prime Minister Mohammed Shia al-Sudani’s request to lift sanctions on the sanctioned banks during his presence in New York, the closure of outlets, and the regional war.
Al-Taie said, "All transfers will be subject to auditing, which will lead to a long delay, after they were not delayed for more than one week."
Al-Taie pointed out that "all these reasons and others will lead to the dollar exchange rate rising in the markets to about 160 thousand dinars for every 100 dollars."
Expert comments on the return of the dollar exchange rate in Baghdad
Today, Thursday (September 26, 2024), Mustafa Hantoush, a researcher and specialist in financial and banking affairs, commented on the return of the dollar exchange rate to rise in Baghdad.
Hantoush said in an interview with Baghdad Today, "The dollar exchange rate in the local market is neither constantly rising nor constantly falling, but rather fluctuating, which means that solutions are possible to control this price, and the government has begun working on some solutions, including the directives of Prime Minister Mohammed Shia al-Sudani to return banking competition and not monopolize dollar transfers and others on some banks, as this competition will lead to greater stability in the exchange rate of the Iraqi dinar against the dollar."
He explained that "there is a government trend to support the Iraqi banking system so that there are no specific banks controlling foreign transfers, and this is a good and important step, in addition to developing international financial and banking relations, especially with the American side through the Prime Minister's meeting with the US Deputy Secretary of the Treasury and discussing the status of the banking system and the dollar, and the meeting of the Central Bank of Iraq less than a month ago with the Treasury and the agreement to contract with the consulting company (Olver Wyman) to review the status of the Iraqi system (restricted by the dollar), which is supposed to sign a contract with it soon, which will have a positive impact on the dollar exchange rate file, and this matter reassures the street and reassures the market."
He added, "The Iraqi government can work to create an official platform for the issue of trade with Iran and Syria using remittances or gold, in order for imports to be legal, and this reduces the great demand for the dollar through the parallel market, which is the main reason for the dollar's rise above its official price."
The US dollar exchange rate witnessed a significant increase in the past few days, reaching 152 thousand Iraqi dinars for every 100 US dollars in the main stock exchanges in the capital, Baghdad, as well as in the local markets, after it had recently witnessed a decline of 147 thousand dinars.
Asraf Lak campaign.. Transparency in dealing, safety from counterfeiting or damage of currency
https://www.youtube.com/watch?v=QalDkToAhZ4
==
The Asraf Lak campaign has taken on the responsibility of
0:03
The prevalence of cash payments instead of cash in
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Commercial and investment transactions in
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The public and private sectors to ensure the rights of citizens
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And their safety from counterfeiting or damage to currency and even
0:17
Theft. The campaign works to encourage citizens
0:20
To plan their future using means
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Electronic payment via the Internet system
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Digital to reduce the risks of cash leakage
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On the other hand, to enhance the ability Digital communication
0:35
Equally shared among Arab countries at a high level
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For transparency, ease and complete security in trading
Sudanese speech before the United Nations General Assembly
Prime Minister Mohammed Shia al-Sudani said today, Thursday (September 26, 2024), that stopping the violations taking place in Palestine and the region is everyone's responsibility, and while he pointed to the Security Council's failure to maintain international peace and security, he stressed Iraq's support for Lebanon and its continued provision of assistance to overcome the effects of these attacks.
The following are the highlights of Al-Sudani’s speech at the 79th session of the United Nations General Assembly:
The 79th session of the United Nations General Assembly is being held amidst dangerous circumstances in the Middle East.
* The international system is facing a difficult test that threatens its existence and makes it unable to achieve its goals, including maintaining international security, stability, and human rights.
* Today we are witnessing precedents of violating international conventions and norms, and the international institutions concerned with managing and organizing international relations, and promoting peace and stability, are being neutralized.
* The absence of this responsibility leads to resorting to alternative mechanisms, and ignoring these institutions threatens to return international relations to a state of chaos.
* We must commend some of the courageous positions of a number of figures who head these international institutions, including the Secretary-General of the United Nations. Despite the great efforts, we see the absence of effective influence.
* Stopping the violations taking place in Palestine and the region is everyone’s responsibility, primarily the Security Council, which has failed to achieve its most important goals, which is to maintain international peace and security.
* The Palestinian people are being subjected to an attack by an occupying military force, displacing millions, killing thousands, and mass starvation to exterminate this people, without deterrent measures, and the international community or any of its members have not committed to the responsibility of protection according to international law.
* The occupation cites Security Council Resolution (1701) as a pretext for aggression against Lebanon, selects some of its provisions, and ignores Security Council resolutions.
* We are witnessing a brutal campaign of indiscriminate killing and the use of technology to carry out remote bombings, with no regard for defenceless civilians.
* Iraq, with its government and people, and under the guidance of the supreme religious authority, stands with Lebanon as it faces an aggression that seeks to drown the region in conflicts that we have previously warned against, and we will continue to provide assistance to overcome the effects of these attacks.
* We note the systematic targeting of international agencies and relief organizations in the occupied territories, and the harm inflicted on their personnel, including United Nations agencies, including UNRWA in Gaza.
* The recent moves of the occupation seek to threaten the stability of the countries of the region by igniting a large-scale regional war.
* Iraq hopes that the United Nations will achieve the goals for which it was established, and we express our disappointment at the failure of the Security Council and the international system to fulfill their duties.
* There is a significant increase in hate crimes and intolerance; we are in dire need of international cooperation to promote a spirit of tolerance and mutual respect, and to combat hate speech, discrimination and violence.
* One aspect of hate speech is the growing phenomenon of Islamophobia, which undermines global efforts to achieve peace, security and coexistence.
* I call on the United Nations to make greater efforts to promote dialogue and understanding between different cultures and religions, and on heads of state and heads of international institutions to stand against religious fanaticism and hatred.
* Iraq is witnessing major developments. After 10 years of ISIS occupying a third of its territory, it is today witnessing the implementation of a comprehensive plan for reconstruction and development, and restoring life to the cities.
* We face many challenges in achieving economic, administrative and environmental reforms and diversifying the economy.
* We have made great strides in the field of security, and achieved victory over terrorism, and soon we will crown this victory over the terrorist organization with a joint declaration, with our allies and friends who stood by Iraq and supported it against the terrorist ISIS.
* Our efforts are focused on strengthening the democratic process in Iraq, and consolidating the social contract and national cohesion.
* We organized the provincial council elections, which had been suspended for 10 years, and after their organization had been obstructed in Kirkuk since 2005, and now we are in the process of organizing the elections for the Kurdistan Regional Parliament of Iraq.
* Our efforts are continuing to strengthen the relationship between the federal government and the regional government and local governments in the governorates, protect the existence of minorities and fraternal groups, and secure their needs.
* Our government's priorities are five: providing job opportunities, improving services, fighting poverty, combating corruption, and implementing economic reforms.
* The government seeks to rehabilitate the necessary human resources, and has achieved extensive steps in building state institutions and imposing the rule of law.
* The government is working to activate the role of the private sector, address administrative slackness, diversify sources of income, reform the banking and financial sector, manage the energy transition, and address the causes of social and economic unrest.
* The double challenge facing Iraq is the excessive dependence on oil revenues, and the limitation of its ability to diversify the economy, as a result of decades of wars and economic siege, the absurd policies of the dictatorial regime, subsequent mismanagement, and the waste of human and material resources that could be developed.
* Governance, combating corruption, achieving digital transformation and e-government are among our top priorities, as they are the most important strategies for good governance and reducing corruption.
* We expect the international community to support our efforts to recover Iraq’s looted funds, and to end the legal and legislative obstacles imposed by some countries, such as banking secrecy and preventing the disclosure of beneficial owners.
* Iraq seeks to achieve regional security and stability by creating constructive partnerships to confront common challenges through cooperation between participating parties and increasing interdependence in a manner that serves the interests of all.
* We plan to launch initiatives that reflect economic integration and regional stability in the region, including the “Development Road” project.
* The "Development Road" project aims to transform Iraq into a major regional hub for trade and transportation, linking the Middle East to Europe via Iraq, using a network of railways, highways and industrial cities, and linking the Grand Faw Port to Europe via countries in the region.
* The project represents the most important steps to enhance regional cooperation and integration, and is in line with Iraq’s goals of rebuilding the economy and improving services.
* Iraq faces serious environmental challenges as a result of climate change and desertification, which cannot be addressed without strengthening international cooperation.
* Desertification displaces millions in search of stability, exacerbating social and political crises.
* We call for international solidarity to confront environmental challenges and work to increase awareness of the importance of sustainable management of water resources, and commitment to the principle of shared and fair responsibility among countries.
* I express my gratitude to the United Nations for the support it has provided to Iraq over the past two decades, and we look forward to a new phase of cooperation that will begin at the end of 2025.
* We are working hard to build a better future for our coming generations, and we look forward to continuing our partnership with the international community to achieve this.
* Iraq's selection to chair the Group of 77 and China for the year 2025 is a victory for productive Iraqi diplomacy, which seeks to achieve development goals, bridge the technological gap between the countries of the North and the countries of the South, and reform the international economic system.
* During our presidency of the largest international group, with 134 member states, we look forward to working towards a more stable and just world, in which development opportunities are available to all peoples of the world.
* Our policy puts Iraq, its security, sovereignty and prosperity first.
* We are proceeding to erase the traces of the past, including wars, dictatorship, and terrorism, just as we are proceeding to rebuild Iraq and place it in the regional and international position it deserves.
and then ... and many of the iraq'is feel this way too
Al-Samarrai praises Al-Sudani’s speech before the United Nations: It is worthy of Iraq, its history and its international standing
Today, Friday (September 27, 2024), the head of the Azm Alliance, MP Muthanna Al-Samarrai, praised the speech of Prime Minister Muhammad Shia Al-Sudani before the United Nations General Assembly, indicating that it is befitting of Iraq, its history and its international status.
Al-Samarrai said in a post on the (X) platform, which was followed by "Baghdad Today", "We followed the speech of Prime Minister Mohammed Shia al-Sudani before the seventy-ninth session of the United Nations General Assembly, and it was a speech that befits Iraq, its history and international standing, and clearly expresses its orientations and reflects the will of its people and its national, Arab, Islamic and humanitarian principles."
Al-Sudani stressed in his speech that stopping the violations taking place in Palestine and the region is everyone’s responsibility. While he pointed to the Security Council’s failure to maintain international peace and security, he stressed Iraq’s support for Lebanon and its continued provision of assistance to overcome the effects of these attacks.
A conversation with H.E. Prime Minister Mohammed Shia’ Al Sudani | 2024
Concordia Annual Summit
embed
https://www.youtube.com/watch?v=qxZ-c-1lqXI
please welcome to the stage concordia n log and exc moham alani of the rep of ir
Sudani Peace be upon you
1:05
Oh God
1:36
Get it
2:15
Thank you very much for this opportunity to host a talk in front of this elite
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Good
host
thank you for giving up valuable time jump into the issues of the day of
2:36
which are many can you share your priorities for
2:42
this visit to the united states for the un general assembly particularly as you recently
2:47
called for urgent meeting during the sidelines of unga
sudani
The usual meetings in the meetings
3:03
The General Assembly of the United Nations and this is an opportunity that includes several meetings with officials
3:10
With also dialogues and meetings, especially in this
3:15
The difficult period that the Middle East region is going through, and we also invested our presence in meetings
3:23
With companies, investors and businessmen
host
thank you as you said all of us are watching with great concern the situation in the middle east
3:44
and it seems to be at very dangerous moment can you tell us
3:50
how you view the situation and the way forward
sudani
This is this dangerous situation we had warned about since the beginning of the events
4:14
October 7 in the importance of stopping this
4:19
The war that unfortunately targeted innocent citizens
4:26
In Gaza and the occupied territories and left a large number of martyrs and wounded
4:35
And displacement and weathering operations we are still looking for outlets
4:41
To deliver food and medicine to the numbers of citizens present in Gaza
4:50
The matter developed into an expansion of the conflict arena, the Red Sea in Syria and finally In
4:59
Lebanon, in addition to the tense situation that occurred between Israel
5:07
and Iran, and thus the region is going through [music]
5:13
a difficult period that could lead to a comprehensive war, and we
5:20
know the importance of the Middle East region for security and stability, especially since it is a region
5:29
that represents a third of the world's oil needs, in addition to
5:35
its importance for stability and security. The solution is that we are facing a stubborn person who continues
5:45
to implement an agenda in aggression and disrespect all
5:53
international institutions and violate laws, agreements and treaties
6:01
threw them to the wall in the face of silence
6:06
and the failure of the international system based on rules
6:13
and laws. I was talking a little while ago with the Lebanese Prime Minister. He said that we made an effort in the Security Council after
6:23
the recent incident of blowing up communication devices so that the Security Council would issue a statement saying
6:33
that this act is unacceptable and not just condemnation. This term is that This act that
6:40
occurred in targeting citizens via communication devices, this
6:46
unfortunately unacceptable act by the major countries in the Security Council
6:52
refused to issue a press statement, not a presidential statement, in which it is unacceptable for us to imagine
7:00
the extent of the great failure in this system that will not provide security and stability
7:06
for the countries
7:17
of the world
host
than you how see you
7:27
how war
sudani
Iraq is at the heart of the region
7:40
and its role is certainly a pioneering and important role
7:47
and we have made an exceptional effort throughout the past period
7:53
in calming down and not expanding the arena of conflict
8:01
we supported all initiatives, including the latest proposal by President Biden, and we exerted pressure
8:09
on all regional parties in the matter of stopping this war
8:16
and self-restraint and not being drawn into attempts that are intended to make the arena of conflict encompass the region
8:25
of the Middle East Our efforts are continuing. We called for a summit and we have contacts with
8:33
various regional leaders on the importance of stopping this
8:52
host
there is aot oft there but i know
8:57
you worked well with
sudani
Certainly we describe the relationship as a strategic relationship between Iraq and the United States
9:22
And this relationship is based on stations that began with helping Iraq to overthrow the dictatorial
9:30
regime and extended for years in supporting Iraq in its efforts to confront terrorism, starting with Al-Qaeda
9:39
and ending with ISIS in 2014. The Iraqi government at the time requested international support from
9:48
the United States of America. On this basis
9:53
The global coalition to confront ISIS was formed and we took
9:59
with fierce battles in which we achieved victory and presented a model of cooperation between
10:06
the two countries and regional cooperation to confront the danger of ISIS, ISIS, which did not only threaten Iraq but also
10:15
the region and the world after ten years 2014 to cancel
10:24
2024 We found that the anniversary of the formation of
10:29
This global coalition at the end of this month there will be a meeting in
10:35
Washington It is important to re-evaluate the existence of this coalition The coalition
10:43
The international coalition is now limited to advisors and not combat forces
10:51
As some imagine or raise in some media outlets because the former US President Mr.
10:59
Trump in 2021 announced the withdrawal of combat forces and the retention of
11:06
advisors, so we held a dialogue to arrange the process of ending this
11:15
mission in which we initially offered thanks and gratitude
11:21
In the name of Iraq, people and government, to all the countries that helped Iraq in its war against
11:30
ISIS, and Iraq will remain an integral member of this
11:35
coalition to confront the danger of this extremist ideology
11:42
At the same time, we will open the way for bilateral relations, including the field Security We want our relationship with
11:52
the United States of America to expand in
11:58
other areas, economy, education, technology, in cooperation
12:06
in various important sectors in a manner that is consistent with the Strategic Framework Agreement in
12:15
2008
host
businesses poli i think you mentioned before that
12:42
you were having a meeting with business people here in united states and can you tell us a little bit about what your
12:48
domestic policy for attracting investment is generally you how the economy is doing
12:56
and so on and so for
sudani
Yes, this is the aspect that I am trying to show in
13:03
in detail the most important features and characteristics of the reality in Iraq
13:10
My government is two years old and has set priorities
13:17
five in its program that was voted on by the House of Representatives. These priorities focus on reducing the rate
13:26
of unemployment and poverty, improving services, combating corruption, and reforming
13:33
the economy. These priorities represent the aspirations and hopes of the Iraqi people, so we gave them
13:42
this importance. We started by approving a three-year budget in which we allocated allocations for the plan
13:50
investment amounted to 330 billion dollars during these three years
13:59
Of course, for the first time in the history of Iraq, a three-year budget has been prepared. These allocations are 3 billion dollars allocated
14:11
for infrastructure projects and services. We cannot move towards economic development without it being in
14:18
the country's infrastructure and services Citizens need it Hospitals Schools Universities Bridges Roads Electricity
14:27
Health centers We have achieved an implementation rate exceeding
14:35
33% We have spent about 25 billion dollars during the life of
14:40
This government in this field in the field of services, so we find today that
14:48
There is an atmosphere of comfort and optimism in the circles
14:53
Popular for the first time since 2003 because of what was found
14:59
Citizens of services and infrastructure and seriousness in implementation We certainly worked on the rest of the goals
15:08
We were able to pull 12 million people from the brink of poverty through cash grants
15:16
And a food basket that cost the state about 9 billion
15:22
dollars This was an important aspect of reducing the poverty rate due to wars and
15:29
Displacement and halting development throughout the past years We worked
15:35
On combating Seriousness to corruption, which represents a challenge and a threat to all programs and plans
15:43
And there were clear procedures in recovering funds and wanted persons and cooperating with all international bodies
15:51
And the United Nations, in addition to activating the regulatory authorities, we moved to an important entitlement, which is reform
15:58
The economy in a country that relies on oil revenues only throughout
16:04
The past years, there are no other sectors supporting oil, so we started with a series of projects
16:13
To achieve the best investment in oil and gas, unfortunately, we burn 1,300 million
16:23
cubic feet of gas daily and import 1,000 million standard cubic feet
16:29
We have put a series of projects worth 4 billion dollars in
16:35
The most important of which is an agreement with Total, in which we targeted
16:40
Fields in the fifth and sixth rounds. These are rounds announced by the Ministry of
16:46
Oil, within the next three to five years, we will reach
To 3000 million cubic feet secure
16:56
Our needs first and we reach zero burning
17:01
The gas that affects the environment and also represents waste was around 40
17:10
Now we have reached 69% in investing in associated gas as well
17:17
Our projects that we announced in this field aim to increase oil production by around 2 million
17:23
barrels in addition to our daily production, of course we are within OPEC and according to the policy that balances between
17:32
The needs of consumers and producers, we are preparing to launch energy projects
17:40
Electricity, we are talking about broad development in various sectors
17:46
Therefore, we are currently negotiating with GE, Siemens and other companies for a large project to produce more than 3
17:55
megawatts with the latest modern channels, including renewable energy projects, we have put Goal
18:04
Reaching 8000 megawatts, of which we have implemented 7000
18:09
With solar energy and also wind energy in cooperation or by contracting with an investor
18:17
Arabic This is in the field of oil and energy. We announced a project
18:23
A large one that we call in Iraq the Iraqi Dream Project, the Development Road Project that connects the port
18:30
of Faw, which will be the largest port in the region. It is hoped that it will enter service in
18:39
2025. The first phase of the development road is an economic corridor
18:44
The best among the economic corridors in the Middle East region, it connects Asia to Europe
18:51
At lower costs and at a clear speed compared to other corridors. The road
19:00
Development is not only a corridor for transporting goods, but it will also be a corridor for the emergence of industrial cities that invest
19:07
The natural and primary resources that are abundant in Iraq, our strategic location Our people, if
19:15
we are linked to all economic corridors and are a link for the arrival of goods, this road will
19:22
also be a corridor for transporting oil and gas, and thus it will be the first pipeline to transport oil and gas from
19:32
the Gulf region and the Middle East to Europe, and it will also be a corridor
19:39
for transporting optical cables and communications, as the cost of maintaining the cable in
19:47
the sea is much more than what is on land. This
19:53
One of the advantages of this project is that we are also preparing for a project with
20:00
a group of projects with Turkey related to dams
20:05
and corridors or streams and rivers that improve
20:11
water management and help in sustainable agriculture, and although we have achieved
20:18
self-sufficiency this year in the wheat crop, and we have a surplus, we will export these projects
20:27
which will start the first phase with about one billion and 200 million dollars with companies Turkish from
20:33
It is hoped that it will achieve sustainability for us in the
20:39
agricultural sector. These indicators are what prompted investors, Arab and foreign companies to invest
20:46
In Iraq, the total investment licenses granted under the law during
20:52
two years during the two years of the government's term were 13 investment licenses worth 66-60 billion dollars distributed
21:01
between housing, energy, hotels and entertainment sites. If we add
21:07
to them our investments with Total, the fifth round companies, which are
21:14
around 27 or 42 billion, then we are facing a number of 108 billion
21:25
dollars in two years of foreign investments in Iraq. This is a clear indication of the environment
21:33
that exists. Yes, we have bureaucratic problems, but we face them with more
21:39
procedures and decisions taken every week through the council Ministerial and through the Council of Ministers
21:46
I apologize for the length, but these are indicators that I would like to put before you about the reality of the economic environment
21:54
in Iraq
host
thank you very much it was really
22:01
excellent to hear the progress that is going on in iraq after many years of
22:06
difficulties and our short time has come to an end but very honored we are very honored as
22:13
concordia to have you here prime minister and anything we can do to help to get the message out about the reforms
22:21
and investment here and again thank you
sudani
Thank you very much for Thank you
Israeli army: Intercepting missile attack on Tel Aviv from Yemen
Media outlets reported on Friday that air raid sirens sounded in Tel Aviv, central Israel, after reports of a missile attack from Yemen.
The Israeli army said that a missile was launched from Yemen and was successfully intercepted by the air defense system.
Yedioth Ahronoth reported that "the missile launched from Yemen was successfully intercepted by an Arrow interceptor missile, and that the sirens and explosions heard were the result of the interception and interceptor fragments."
About 140 killed and wounded in a new bloody day in Lebanon
The Lebanese Ministry of Health announced that the Israeli raids that targeted the country today, Thursday, resulted in the killing of 60 people and the injury of 81 others.
The ministry revealed that the Israeli army carried out 115 air strikes on various areas of Lebanon on Thursday.
Lebanese Health Minister Firas Abiad revealed on Wednesday that 51 people were killed and 223 others were injured in Israeli strikes on Lebanon.
Meanwhile, two security sources revealed to Agence France-Presse on Thursday that more than 22,000 people, most of them Syrians, have crossed the border from Lebanon since the beginning of the week due to the heavy Israeli raids.
A Syrian security source reported that more than 6,000 Lebanese and about 15,000 Syrians passed through the Jdeidet Yabous crossing in an emergency manner over the past 3 days until Thursday morning.
This statement coincided with another security source announcing that "about a thousand Lebanese and about 500 other Syrians have entered through the Jose crossing" since Monday.
Iraqi faction" threatens to target the UAE: an advanced position for Israel
The leader of an Iraqi faction threatened to target the United Arab Emirates, considering it an advanced position for the State of Israel.
Abu Alaa Al-Walaei, Secretary-General of the Sayyed Al-Shuhada Brigades, posted a tweet on the “X” website, in which he said, “The Islamic Resistance in Iraq considers the Emirates to be the advanced position of the Zionist entity in the Gulf, and the first line of fire for the resistance in the event of a comprehensive war breaking out.”
Al-Walaei added: "The missiles of the Islamic Resistance in Iraq and its drones, which have begun to reach deep into the Zionist entity, will find it very easy to reach alternative sites."
To the usurping entity in the region.
The UAE Ministry of Defense said earlier on Thursday that the four soldiers who were announced killed on Tuesday died during missions related to transporting ammunition.
The Emirates News Agency reported that a delegation of senior officers from the Ministry of Defense, headed by Undersecretary of the Ministry of Defense Matar Salem Al Dhaheri, offered "condolences" to the families of the dead.
The agency quoted Al Dhaheri as saying that the four soldiers were killed "while carrying out their duties of transporting some ammunition inside one of the camps in the country."
"The injured soldiers are currently receiving health care services" inside the UAE, he added.
US to Israel: Further escalation in Lebanon will make it more difficult for civilians to return
US Secretary of State Antony Blinken told Israeli Minister of Strategic Affairs Ron Dermer that further escalation of the conflict in Lebanon will only make it more difficult for civilians to return to their homes on both sides of the border, the State Department said in a statement of their meeting.
State Department spokesman Matthew Miller said the meeting between Blinken and Dermer focused on discussing the importance of reaching an agreement on a 21-day ceasefire across the border between Israel and Lebanon, proposed by the United States, Australia, Canada, the European Union, France, Germany, Italy, Japan, Saudi Arabia, the United Arab Emirates, the United Kingdom, and Qatar, and reaching a diplomatic settlement that would allow civilians on both sides of the border to return to their homes.
The two ministers also discussed ongoing efforts to reach a ceasefire in Gaza that would ensure the release of the hostages and alleviate the suffering of the Palestinian people.
Blinken stressed that all parties must make the difficult decisions necessary to reach an agreement.
During the meeting, the two ministers discussed the steps that Israel must take to improve the delivery of humanitarian aid to Gaza.
According to Miller, Secretary Blinken assured Dermer of the United States' unwavering commitment to Israel's security.
The United States, France and a number of European and Arab countries called on Thursday for a ceasefire along the border between Israel and Lebanon for 21 days, and expressed their support for a ceasefire in Gaza, according to a joint statement by the countries issued by the White House.
The joint statement said, "The situation between Lebanon and Israel since October 8, 2023 is intolerable and poses an unacceptable risk of a wider regional escalation."
"Therefore, we call for an immediate 21-day ceasefire along the border between Lebanon and Israel to allow space for diplomacy towards a diplomatic settlement," he added.
The statement called on the governments of Israel and Lebanon to agree to a temporary ceasefire immediately.
The statement stressed that "the time has come to conclude a settlement that enables civilians on both sides of the border to return to their homes."
Why does the US still control every penny of Iraqi oil revenues?
In July, the Iraqi Central Bank halted all foreign transactions in Chinese Yuan, succumbing to intense pressure from the US Federal Reserve to do so. The shutdown followed a brief period during which Baghdad had allowed merchants to trade in Yuan, an initiative intended to mitigate excessive US restrictions on Iraq’s access to US dollars.
While this Yuan-based trade excluded Iraq’s oil exports, which remained in US dollars, Washington viewed it as a threat to its financial dominance over the Persian Gulf state. But how has the US managed to exert such total control over Iraqi financial policies?
The answer lies in 2003, with mechanisms established following the illegal US-led invasion of Iraq.
A legacy of ‘Operation Iraqi Freedom’
Since the signing of Executive Order 13303 (EO13303) by President George W Bush on 22 May 2003, all revenues from Iraq’s oil sales have been funneled directly into an account at the Federal Reserve Bank of New York.
EO13303, titled “Protection of the Development Fund for Iraq and Other Property in Which Iraq Has an Interest,” has been renewed annually by every US president, including Joe Biden in 2024. This executive order essentially places control over Iraq’s oil revenues under the discretion of the US President, leaving Baghdad with limited control over its resources and earnings.
The roots of Iraq’s financial dependence on the US stretch back to the 1990s. Following Iraq’s invasion of Kuwait in 1990, UN Security Council Resolution 661 imposed severe economic sanctions to isolate Iraq from international trade. These sanctions, exacerbated by former president Saddam Hussein’s refusal to comply with withdrawal demands, crippled the Iraqi economy.
Control over Iraq’s finances
UNSC Resolution 687, passed in 1991 after the Persian Gulf War, extended these sanctions while introducing the controversial “Oil for Food” program. Although it allowed Iraq to sell oil in exchange for humanitarian goods like food and medicine, the sanctions resulted in immense human suffering, with over one million Iraqis, half of them children, dying during this period. Then-US secretary of state Madeleine Albright infamously defended the sanctions in a 1996 interview, stating that the deaths were “worth the price.”
Following the invasion of Iraq, the US occupation of the country became a reality after the collapse of Saddam’s government. Faced with a fait accompli, the UN Security Council had to accept the new status quo.
According to International Humanitarian Law, occupation forces – in this case, the US and UK – become responsible for the well-being of the populations they occupy. So, UNSC Resolution 1483 was issued on 22 May 2003 to establish the US-led Coalition Provisional Authority (CPA) as Iraq’s administrator and create the Development Fund for Iraq (DFI) to manage Iraqi oil revenues.
Note that Resolution 1483 did not mention the US Federal Reserve as the depositary of Iraqi funds, nor did it assign a location for the DFI headquarters or account. In fact, the resolution specifically states directed that the DFI should “be held by the Central Bank of Iraq.” It was the CPA, led by Paul Bremer, that decided unilaterally to house the account at the Federal Reserve Bank of New York.
This decision allowed the US government to maintain tight control over Iraq’s oil revenues. From that point until today, the Iraqi Ministry of Finance has had to submit requests for funds to the US Treasury, which then approves or denies these requests based on its own criteria.
This monthly transfer of US dollars – which are literally flown into Baghdad in pallets of hard cash – determines Iraq and its 40-million-population’s ability to pay for basic needs like salaries, food, and medicine.
Blackmailing Iraq
Whenever Washington feels that Iraq is not compliant with US regional goals, these fund transfers can be delayed or reduced. In January 2020, for instance, after the Iraqi Parliament voted to expel US troops following the assassination of Iranian Quds Force General Qasem Soleimani and Iraqi Popular Mobilization Units (PMU) Deputy Commander Abu Mahdi al-Muhandis, the Trump administration threatened to freeze Iraq’s access to its oil revenues.
Today, Iraq’s financial situation remains dire. Despite having oil revenues piling up in the Federal Reserve Bank of New York – estimated today at around $120 billion – Iraq is burdened with a growing debt that matches this amount.
The country’s inability to control its own funds has prevented long-term reconstruction and development, forcing it to rely on international loans. Ironically, Iraq has also become one of the largest holders of US Treasury bills, with investments totaling $41 billion in 2023.
In addition to its economic challenges, Iraq has been drawn into the escalating regional conflict amid the ongoing Gaza war and the intensification of Israel’s aggression against Lebanon. Iraqi resistance forces have actively participated in military strikes against Israeli targets in solidarity with both Palestinian factions and Hezbollah.
The involvement of Iraq in this conflict is not isolated. Iraqi factions have routinely targeted US military bases in Iraq and Syria – viewed as illegal foreign forces subjugating Iraq’s sovereignty – contributing to a broader escalation that has drawn in actors from across West Asia.
These troops have vowed to continue their campaign against both US and Israeli targets, aligning their actions with the region’s Axis of Resistance.
The UN shutters DFI, but the US refuses to comply
Iraq ceased to be under occupation, at least formally, when it signed the “Strategic Cooperation Framework” agreement with the US in 2008, which says that American forces are present in Iraq only at the request of the Iraqi government.
Attempts by the UN to restore Iraq’s control over its finances have largely failed. In 2010, UNSC Resolution 1956 demanded the closure of the DFI by no later than 30 June 2011 and the transfer of all proceeds to the Iraqi government.
Despite these clear legal directives, the DFI account remains under US control at the Federal Reserve Bank of New York in defiance of the UN Security Council resolution. Worse yet, enduring US dominance over Iraq’s financial resources has deeply exacerbated the corruption and dysfunction plaguing the country.
Ending the work of the UN International Advisory and Monitoring Board of the DFI was one way of obscuring the massive corruption and theft of resources by American and Iraqi actors.
The unprecedented corruption that was spread throughout Iraq and its institutions can be laid at the doorstep of this policy. The gargantuan amounts of hard cash that are flown into the country monthly, the unaccounted-for astronomical sums that disappear from various ministries, and the dollar exchange shops (banks) set up by political groups that thrived alongside the US occupation forces have turned Iraq into one of the most corrupt countries in the world.
Iraq’s dependence on the US for access to its own oil revenues, combined with its growing debt has significant impacts on its sovereignty, while its involvement in the regional war also will have implications on its relations with the US.
While Iraq may no longer be under formal occupation, the mechanisms of financial control established after the 2003 invasion persist. These controls not only limit Iraq’s economic development but also entangle it in broader geopolitical struggles.
Today, both the US Administration of Joe Biden and the Iraqi government led by Mohammad Shia al-Sudani – which has not taken steps to free Iraq’s sovereign funds – can be considered in violation of United Nations Resolution 1956 issued in 2010.
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