Sun. PM TNT News Articles 8-22-21



An economist identifies several things for the success of attracting investment in Iraq

An economist identified several issues for the success of attracting investment in Iraq.

Basem Jamil Antoine told {Euphrates News}: “In order to receive investment, a good legal environment must be provided and red tape and bureaucracy be rid of.”

He pointed to “providing the security factor in the main, as well as providing awareness, culture and investment creation.”

And Antoine stated, “The investment is transferred to the countries, as well as the vessels that go to the appropriate attractive environment.”   link

Sirens sound at the US Consulate in Iraqi Kurdistan

The consulate asked residents near it to stay away from the windows of homes

Yesterday, Saturday, the US Consulate in the city of ” Erbil ” in the Kurdistan region of Iraq sounded warning sirens, without knowing the reasons.

The Russian RT news network said that the US consulate blew sirens for a few minutes and then stopped it, without stating the reason for this and without any attack on it.

And RT quoted local sources in Erbil as saying that the consulate asked residents close to it to stay away from the windows of the houses.

In another context, the US ambassador in Baghdad, Matthew Tueller, welcomed, yesterday, Saturday, the decision to hold early elections in Iraq, and the American diplomat considered that the postponement option would plunge the country into a more complex crisis.

Toler added, in an interview with Al-Arabiya-Al-Hadath news channel, that early elections were a basic demand of the Iraqi people, and that is why Iraq will go on a highly worrisome path if they are not due.

And the US ambassador to Iraq announced that his country is working to secure energy for Iraq away from dependence on Iran. Toller stressed that there are no similarities between Iraq and Afghanistan, explaining that the US mission in Iraq is completely different from what it is in Afghanistan.

The Independent High Electoral Commission in Iraq announced earlier this month that October 10 will be an inevitable date for holding the elections, noting that the distribution of biometric voter cards will begin within days, according to Al Arabiya news channel.

The Independent High Electoral Commission in Iraq announced last week the presence of 130 international observers across the country in order to monitor the electoral process and provide support and technical advice.

And the Iraqi Prime Minister, Mustafa Al-Kazemi, had indicated earlier, that there are those who fear the results of the early elections, explaining that these are trying to spread despair in the hearts of citizens.   link

Tueller: The situation of Iraq is different from that of Afghanistan.. There are groups that challenge sovereignty

The US ambassador to Baghdad, Matthew Tueller, confirmed, on Saturday, that the current Prime Minister, Mustafa Al-Kazemi, was able to restore Iraq’s relationship with neighboring countries, noting that the Iraqi situation is different from the case of Afghanistan.   

Toler said, during a televised statement, to “Al-Hadath” channel, followed by “Nas” (August 21, 2021), that “Al-Kazemi was able to restore Iraq’s relationship with neighboring countries despite all the challenges,” noting that “the United States is aware of the importance of Iraq in the region.”  

He added, “We are in the final stages of defeating ISIS completely, and the Iraqi forces can complete the mission of the war against ISIS.”  

In the file of foreign relations, the US ambassador stressed that “we are facing an important opportunity to consolidate the relationship with Iraq, as we work with Baghdad to secure energy without relying on neighbors.”  

He pointed out that “the United States is ready to lead an international coalition to assist the Iraqi forces, especially since those forces are now able to stop hostilities against the facilities.”  

He stressed that “the Iraqi government is the one who requested the survival of our forces, as there are groups inside Iraq that challenge the sovereignty of the state,” noting that “the attack on the American embassy by some groups underestimates the Iraqi state…there are groups inside Iraq working against the Iraqis who want to build the nation.”  

“Our mission in Iraq is different from Afghanistan,” he said.   link

Source: Dinar Recaps

Afghan Central Banker Sees Currency Drop, Capital Controls Ahead | Bloomberg


Afghanistan’s new Taliban-led government faces a series of shocks that probably will lead to a weaker currency, faster inflation and capital controls, according to the nation’s exiled central bank chief.

The Afghani, as the tender is known, likely will see renewed weakness after it reached a record low last week, Ajmal Ahmady, governor of Da Afghan Bank, known as DAB, said in an interview for Bloomberg’s Odd Lots podcast. That could spur a pickup in consumer price increases by making imports more expensive, he said.

With the vast majority of the central bank’s more than $9 billion in assets frozen by the U.S., Afghanistan faces a potential economic crisis, Ahmady said. That comes on top of Covid-19, a regional drought and displaced people that was already creating hardship.

“It’s a really challenging situation,” Ahmady said by phone from

an undisclosed location where he fled as the government fell. “We were trying to manage three shocks, and now I think they’re gonna have to deal with a fourth.”

Ahmady, 43, is a Harvard University graduate who briefly worked at the U.S. Treasury Department as an economist.

As the U.S. prepares to complete the military withdrawal that led President Ashraf Ghani to flee to the United Arab Emirates as the Taliban rolled into Kabul, Afghanistan’s economy and banking sector lie in tatters. Almost three-quarters of the country’s nearly 40 million citizens live in rural areas, while a majority of lenders are in the three major cities, according to World Bank data.

The Afghan currency isn’t accepted for cross-border trade, leaving the nation dependent on U.S. dollars and an informal transfer system known as hawala. The centuries-old trust-based method of moving cash that underpinned international trade throughout the Middle East and South Asia before the advent of modern banking remains a central part of life in Afghanistan.

The International Monetary Fund last week said that the new government is cut off from using fund reserve assets set to be allocated to its 190 member nations on Monday, depriving the Taliban of almost $500 million.

The Taliban will “probably try to go out to other countries to replace the U.S., and maybe China, Pakistan, or other regional countries to find some sources of finance,” Ahmady said. “But it’s a tough situation.”

this is from Kuwait’s news

Al-Kazemi: The doors of Iraq are open to the Kuwaiti investor

Iraqi Prime Minister Mustafa Al-Kazemi said that during his meetings and meetings with Kuwaiti officials, he affirmed his country’s respect for and implementation of international resolutions, as well as commitment to relations based on common interests between the two countries.

Al-Kazemi said in an interview with the Kuwait News Agency (KUNA) and the editors-in-chief of local newspapers, “Kuwait is for us a neighbor and friendly country, and it is in the heart and soul of every Iraqi by virtue of its historical and tender stances towards Iraq and all Arab countries.”

Al-Kazemi indicated his country’s keenness to overcome all difficulties in front of Kuwaiti investments by enacting legislation and fighting corruption and administrative bureaucracy to attract the Kuwaiti investor.

Al-Kazemi said, “The doors of Iraq are open to the Kuwaiti investor, and I personally, my office is open to any investor.”
On the situation in Iraq, Al-Kazemi confirmed that a general reform document will be presented, the provisions of which will be adopted as basic constants for Iraq, noting that the legislative elections in his country will be held on time by the tenth of next October and that it is “not subject to postponement.”

And he indicated that “what matters to us is to cross the country to safety and to regain its health, as we are in dire need of a healthy Iraq that does not dispense with its Arab and Islamic surroundings.   link 

Source: Dinar Recaps


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