Fri. AM TNT News Articles 6-10-22



The resignation of all deputies of the Sadrist bloc… and placing it at al-Sadr’s disposal (June 10th)

After the leader of the Sadrist movement called on his deputies to submit their resignations, deputies of the Sadrist bloc in Iraq signed , on Thursday evening, all their resignations and put them at the disposal of Muqtada al-Sadr, according to what the official Iraqi News Agency “Ana” reported.

The Sadrist movement’s media office stated, in a statement, that the Sadrist bloc’s deputies signed their resignations, all without exception, in al-Hanana, and placed them at the disposal of Muqtada al-Sadr.

Al-Sadr had confirmed earlier today that his parliamentary bloc’s deputies are ready to submit his resignation. In a speech on Thursday, al-Sadr directed his deputies to resign from parliament, declaring that he had decided to remain in the opposition.

He also stressed that the country will not be reformed without a national majority government. He considered that the political impasse in Iraq is “fabricated”.

A national majority government, neither eastern nor western

Al-Sadr, who won the largest parliamentary bloc in the parliamentary elections, had repeatedly called in the past to form a majority government away from dependency on the outside, under his famous slogan “a national majority government, neither eastern nor western.”

Early last April, he gave the coordination framework (which includes factions and parties loyal to Iran) an opportunity to form a government without his current as well, announcing his seclusion for forty days, in order to make way for his opponents.

He also returned and gave in the middle of last month (May) the independent representatives a two-week deadline to join his tripartite alliance (Save a Homeland), which includes the Sunni “sovereignty” alliance and the Kurdistan Democratic Party.

But that deadline passed without the independent representatives showing any response to the Sadrist call. Rather, they declared their rejection of it, adhering to their independent position away from sectarian blocs.

The country has been living in a political impasse for months, and it does not seem that there is a solution soon in sight, with the two parties clinging to their candidates for the presidency and the lion’s share in forming the government, which prompted some politicians to put forward the idea of holding new parliamentary elections, despite their low chances.

While a number of other politicians filed a lawsuit against the three presidencies (the republic, ministers and parliament), demanding the Federal Supreme Court (the highest judicial authority), to dissolve the House of Representatives, which failed 3 times to elect a new president of the country.  link

After al-Sadr’s call for his bloc’s deputies, what happens when a deputy resigns from parliament

Al-Tamimi said, in a statement to (Baghdad Today), that “the resignation of a member of parliament submitted a written request from the deputy to the speaker of “.parliament, then presents it to the parliament’s vote

He added, “Referring to the General Principles Law stipulated in the Public Service Law, Article 35 specifies that a decision will be made within 30 days when submitting the resignation. Therefore, when submitting the resignation of the deputy, the “.Speaker of Parliament must present it to the parliament within 30 days

And he indicated that “the resignation request must receive an absolute majority vote, that is, half the number of attendees plus one, after achieving a quorum, as “.the Replacement Law 49 of 2007 says

He pointed out that “in the event that Parliament votes by a majority, the representative is considered resigned and is replaced from the same electoral list for the next resigned among the best losers, as the Federal Court interpreted Article 46 .”of the Elections Law No. 9 of 2020  link

The central bank reserves are expected to exceed $90 billion

Finance Minister Ali Allawi stated that good financial management and the recovery in oil prices allowed an increase in the Ministry of Finance’s deposits with the Central Bank, expecting at the same time that reserves would reach more than $90 billion by the end of this year, a record level achieved by Iraq, which provides the government with flexibility to continue Spending in the event of a decline in oil prices.

Allawi explained in a paper published on the ministry’s website and followed by “Al-Sabah,” “The continuation of the Ministry of Finance’s sales in US dollars reflects an increase in oil revenues and an increase in the government’s provision of goods and services to citizens, and the increase in those sales in exchange for a decrease in demand for the dollar will lead to an increase in foreign currency reserves with the Central Bank.” .

The minister continued, saying, “The recovery in oil prices and the presence of wisdom in financial management helped the cash reserves to become 70 billion dollars by last April,” adding: “It is expected that the continued recovery of oil prices will lead to an increase in these reserves to more than 90 billion dollars.” billion dollars by the end of this year, a record high Iraq”.

Allawi pointed out that “the recovery in foreign currency reserves with the Central Bank, the stability of the dinar exchange rate, and the stability and stability of financial policy, led to the enhancement of confidence in the Iraqi banking system.”

He pointed out that “it can be seen that this confidence has increased by the private sector (companies and individuals), as deposits and loans have strongly increased, as indicated by recent data,” stressing that “Iraq’s devaluation directed at its currency avoided risks, because the forced currency cuts confuse people’s confidence in the system.” It leads to hoarding cash and withdrawing deposits, which puts pressure on the banking system.”

The Central Bank had announced late last month, the size of Iraq’s reserves of foreign currency, and stressed at the time, that the Iraqi economic situation is very excellent compared to neighboring countries.

The Director General of Investments in the Bank, Mazen Sabah Ahmed, said that “Iraq’s foreign currency reserves amounted to 74 billion dollars, distributed geographically between 8 to 9 major countries, with various forms and assets.”

He added, “This relatively high level makes Iraq in a comfortable position in terms of the adequacy of the level of foreign reserves,” reassuring “about the level of Iraq’s foreign reserves.”

He stressed that “the economic situation is very comfortable,” calling on government agencies to take advantage of this financial abundance.

Ahmed indicated that “the Iraqi economic situation is very excellent compared to the countries of the region and neighboring countries.”   link

Source: Dinar Recaps


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