“Skimming off the Old System” – Mon. AM TNT Thoughts/News 5-23-22



Parliamentary Energy: This session will be exceptional ..

The Parliamentary Oil and Energy Committee confirmed today, Sunday, that the current session will be exceptional in terms of approving laws. Committee member Suhaila Al-Sultani said in an exclusive interview with “Mawazine News”, “There is a parliamentary determination that this session be exceptional and provide a lot of work, stressing that the oil and gas law will be a priority.”

She added, “There is great cooperation between the Arab and Kurdish representatives in this aspect, and the understanding that the interest of Iraq is first and the public interest of the people is more important than private and partisan interests.”

Parliamentary Al-Fateh: We objected to the Food Security Law in order not to legitimize the current government

Al-Fateh Parliamentary Bloc confirmed, on Sunday, that its objection to the law on emergency support for food security was for legal and technical reasons, not to deprive citizens of their rights, adding that it refuses to grant the current government the legitimacy to pass laws.

The head of the bloc, Abbas Al-Zamili, told Shafaq News Agency, “Our objection to the law of emergency support for food security is for legal and technical reasons, not to prevent citizens’ entitlements at the level of food, farmers’ entitlements, electricity wages and other details in the law.”

He added, “We had a role in discussing the final draft of a food security law before the Federal Court challenged it, but we actually refused to legislate laws in this way in order not to give legitimacy to the current government as it is a daily caretaker government, so that we go as a political force towards resolving the political blockage.”


Iraq raises its holdings of US bonds to more than two billion dollars

The US Treasury announced, on Monday, that Iraq’s holdings of US bonds increased to more than two billion dollars during the month of March.

The Treasury said in its latest schedule seen by Shafak News Agency, that “Iraq’s possession of US Treasury bonds for the month of March of 2022 increased by two billion and 117 million dollars, or 8.79%, to reach 26.203 billion dollars, after it was 24.086 billion dollars in the month of February.” .

And she indicated that “these bonds also rose from the same month last year 2021, when Iraq’s possession of bonds amounted to 17.8 billion dollars.”

She added that “Iraqi bonds, including long-term guarantees amounting to 11.348 billion dollars and short-term guarantees amounting to 14.855 billion dollars,” noting that “these bonds represent 0.3% of the world’s bonds.”

In the Arab world, Saudi Arabia is at the forefront of the countries with the most US bonds, raising its holdings to reach $115,461 billion. Kuwait comes second with $46.815 billion, the UAE is third with 45,640, then Iraq is fourth and Oman is fifth with $5.690 billion, then Morocco is $3.672 billion.

And the US Treasury indicated that “the most holder of US bonds is Japan with 1,232.382 trillion dollars, followed by China with 1,039.590 trillion dollars, the United Kingdom with 634.948 billion dollars, and then Ireland with 315,858 billion dollars.”   link


The two parties in Kurdistan have come to an agreement. The same division that stopped the process in February and one of the two parties aides the Framework. Maliki is probably losing it and forced to come to heal…..Believe UN and IMF meetings put some fire  under Iraq to get this mess settled

someone better. the problem is I don’t think the Iraqi govt cares or is embarrassed.

Actually they do Alf. It’s the minority few who are manipulating the process because they were skimming off the old system. And using their constitution to do it.

A member of Parliamentary Finance talks in detail about the Food Security Law

The Parliamentary Finance Committee set the date for the second reading of the proposed emergency support law for food security and development, before voting on it. While it indicated the most prominent sectors that the law will support, it revealed the inclusion of allocations for governorate projects that are the highest of their kind and amounts to improve services in the center and south.

Committee member Ahmed Mazhar al-Jubouri told state television, “The House of Representatives will start next Wednesday the second reading of the proposed emergency support law for food security and development, and it is likely to vote on it in the week following the completion of the second reading.”

He added, “The committee will work in the coming days to set specific numbers for the exchange doors in the law, the most important sectors that will be guaranteed in the law and cannot be dispensed with, the ration card file, and support the agricultural sector by paying farmers’ dues and marketing wheat as well as the electricity file and supporting the poor classes.”

He stressed that “in the event the law is legislated, the provinces will receive funds for projects, and the initial version of the emergency support has been allocated from 9-10 trillion dinars for this section, and this volume of support occurs for the first time in the history of the Iraqi state, and is the largest of its kind in budgets.”

He added, “The sums allocated in the law will go to the citizen, directly or indirectly, through the provision of services, especially in the central and southern governorates, which, during the period of the emergence of ISIS terrorist gangs, were subjected to great injustice and weakness in the provision of services because most of the budgets were going towards supporting sectors and security services. to combat terrorism.”

And about the government’s position on the legislation of the proposed law, al-Jubouri stressed that “the government agreed in principle to pass it, and officials will be hosted whenever there is a need for that.”


Regarding the size of the total amount of the emergency support law, he explained that “the total amount was initially set at (30) trillion dinars, and the discussion is continuing about the possibility of reducing it to 25 trillion,” noting that “the statement of the Parliamentary Finance Committee Chairman Hassan al-Kaabi to add 500 billion dinars within the law to the Municipality of Baghdad. Accurate, because emergency support has been allocated 9 trillion to the provinces, and Baghdad is the largest province in terms of population, and the total volume allocated to it will be one trillion and 200 million dinars, and the money will go to developing the capital’s neighborhoods.

Al-Jubouri pointed out that “it is expected that the surplus of high oil prices will reach 40 trillion dinars, and the total amount proposed for the emergency support law will be between 25-30 trillion, which means that we will definitely not go to borrowing to strengthen the law with additional amounts. link

Source: Dinar Recaps


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