WOTS MON NOV 16 2020
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1165.1000 |  1215.7000 | 1193.3000 | 1190.1000 | 1190.5000 | -0.1000 | 09:32 |
| USD/VND | 23175.0000 | 23176.0000 | 23168.3600 | 23165.3500 | 23165.3500 | 3.7600 | 21:55 |
| USD/CNY | 6.5825 | 6.5845 | 6.6052 | 6.5706 | 6.6051 | -0.0228 | 05:14 |
| USD/KWD | 0.3054 | 0.3064 | 0.3057 | 0.3055 | 0.3057 | -0.0002 | 04:51 |
| GBP/USD |  1.3188 | 1.3189 | 1.3242 | 1.3165 | 1.3174 | 0.0008 | 05:14 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14128.0000 | 14140.0000 | 14141.0000 | 14096.0000 | 14133.0000 | -30.0000 | 05:13 |
Iraq pays $ 230 million in compensation to Kuwait
On Monday, the United Nations Compensation Committee stated that Iraq paid at the end of last month $ 230 million in compensation to the State of Kuwait.
The official Al-Sabah newspaper, in a news seen by Al-Iktissad News, quoted a responsible source in the committee as saying, “The eighty-seventh session of the committee’s board of directors, which was held last month, expressed its appreciation to the Iraqi government for its continued respect for its commitment to deposit 3 percent of the resulting revenues. On the export sales of oil and petroleum products in the Compensation Fund.
The source added, “The council has studied the reports of the committee’s work, since its last session in November 2019, in various cases, where 5 payments were made, with a total total of $ 1.38 billion, including a payment of $ 230 million on October 27, 2020, with this last batch. Approximately $ 2.4 billion remains owed in connection with the Kuwait Oil Company claim.
He explained that “the council studied the various issues that will be addressed to achieve an orderly reduction of the committee,” stating that “by closing the environmental compensation program in 2013, the Kuwaiti, Jordanian and Saudi Arabian governments participating in it made a written promise to provide them with annual progress reports as long as the committee is in place, and after the end of its work, It submits annual reports to the Security Council unless it decides otherwise, ”affirming that“ the issue of submitting reports after closure is under consideration by the Council, and it welcomes before the decision is made that it receives from the government of Iraq in writing its views on submitting reports after closure. ” .
Resolution No. 1483 issued in 2003 stipulates that Iraq will pay 5 percent of its exports from sales of oil, its products and gas, in a UN fund established under the name (United Nations Compensation Fund), where an international compensation committee was formed in 1991, which obligated Iraq to pay $ 52.4 billion in compensation. For individuals, companies, governmental organizations and others, who suffered direct losses as a result of the occupation of Kuwait.
"One month or two months." Learn about the mechanism for distributing employees' salaries overdue
The distribution of salaries of iraqi state employees "delayed for about two weeks" will be distributed for one month in some departments and two months in others, an official source said on Monday.
"All government banks have begun distributing salaries to employees from Sunday," the source told Shafq News, adding that "the distribution of salaries of employees for a month or more will be carried out in accordance with the same department."
The source, who asked not to be named, added that "some departments have begun to prepare salaries for their employees for two months, especially those departments that earned two salaries during this period," adding that "some other departments have created one salary, especially those that receive salaries after 20 months."
"The employees who will receive the October salary will receive the november salary week," the source said.
Earlier, the Iraqi Ministry of Finance announced the launch of employees' salaries for the month of October, starting on Sunday after being delayed for more than two weeks.
The release of salaries came after the House of Representatives voted early last Thursday on the borrowing law that the government is waiting for to secure salaries for employees that have been delayed for several weeks as the country is going through one of the most difficult financial crises, due to the fall in oil prices.
The legislation on the fiscal deficit law to provide legal cover for the government comes as Iraq has not approved the 2020 budget because of the crisis of protests that toppled the previous government and was followed by the Corona pandemic crisis, which nearly halved state revenues.
FEDERAL GOVERNMENT COMMITS TO 320 BILLION IQD BUDGET TRANSFER TO KURDISTAN REGION: SPOKESPERSON
Iraqi government Spokesperson Ahmed Mulla Talal said on Sunday (November 15) that there is an agreement between the Kurdistan Regional Government (KRG) and the federal government that Baghdad will transfer 320 billion Iraqi dinars to the Kurdistan Region after Erbil submits 250,000 barrels of crude oil per day to Baghdad.
In April, Baghdad cut off all budget transfers to Erbil in retaliation for its failure to send the federal government any of the oil it was required to under the 2019 federal budget law, causing a severe disruption in the Region’s finances.
The two sides reached a temporary agreement in early August where Baghdad would send 320 billion Iraqi dinars, in return for bringing customs procedures at the Region’s international border crossings under federal control.
During a televised interview, Talal said that the government requested 41 trillion Iraqi dinars to secure salaries of public servants until next year, but that it does not include the salaries of the Kurdistan Region’s public servants.
On Thursday, the federal legislature approved the Fiscal Deficit Financing bill to fill deficits through borrowing 12 trillion Iraqi dinars (some $10 billion) in internal and external loans.
Talal said that the government currently works with the 2019 Federal Budget Law, as the 2020 budget has not yet been approved. Under the Law, the Kurdistan Region is entitled to 12.67 percent of the budget, should it abide by the terms of the law.
"According to the 2019 budget, one billion dollars should go to Kurdistan,” he said, adding that “The current government deducts the Region’s oil money by 250,000 barrels, along with the revenues of the border crossings and expenditure, while the remaining 320 billion Iraqi dinars are paid as salaries to the Region’s employees, and this is an agreement between the central government and the Region,”
On Sunday, Kurdistan Region President Nechirvan Barzani said the Region is poised to hand over the whole of its oil to the federal government so that the latter transfers 900 billion Iraqi dinars ($753.87 million) to the Region on a monthly basis.
“It is not possible to accept harm to the Region’s employees due to political differences, and it is also not possible to go to the policy of slogans when elections are near and harm the interests of citizens,” Talal said.
"Soon we will present the 2021 budget, specifically within a week or more, and definitely before the beginning of next month,” he added
Parliamentary Finance: Iraq's wealth abroad amounts to $ 87 billion
A member of the Parliamentary Finance Committee, Thamer Theban, revealed, on Monday, the numbers of the amount of money and real estate in Iraq, which disappeared outside Iraq, stressing that the value of cash outside Iraq amounts to $ 87 billion, except for farms, hotels and real estate.
Theban said in a press interview, "The House of Representatives formed in 2011 a parliamentary committee to count the Iraqi funds outside Iraq, to show that 87 billion is the value of cash money."
He added that "Iraq owns tea and rice farms in Vietnam, Thailand and Sri Lanka. Iraq also owns tourist properties and potato farms estimated at 36,000 hectares," indicating that "Iraq has first-class restaurants and hotels in Spain, Italy and France, and most of these tourist facilities are rented."
Theban, who is a deputy for the Al-Fateh Alliance, pointed out that "due to the weak diplomatic representation, Iraq could not claim or obtain its looted property abroad."
CBI Update: Just a note:They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is
here.
here.
The currency auction total sales amount $ 170,117,584.
including $ 16,400,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
Nothing posted
Catnip's Corner:
