Sat. AM-PM TNT News Articles/Thoughts 9-17-22



Iraq ranks 47th among the largest economies in the world

An American economic report revealed today, Saturday, that Iraq ranked 47th globally and fourth in the Arab world in the largest economies in 2022, while the United States ranked first in the world and Saudi Arabia at the Arab level.

The American (CEOWORLD) magazine, which covers a wide range of topics from banking and finance to management and investment, said in a report seen by Shafak News Agency that “Iraq ranked 47th in the largest economies in 2022.”

The magazine added that “the United States is by far the largest economy in the world for 2022 out of the 100 countries included in the table with a total output of 25.346 trillion US dollars, followed by China in second place with a total GDP of 19.919 trillion US dollars, and then Japan with a gross domestic product.” It amounts to 4.912 trillion US dollars, then Germany came fourth with a total GDP of 4.256 trillion US dollars, while India came fifth with a total GDP of 3.534 trillion US dollars.

And in the Arab world, according to the magazine, “Saudi Arabia came first in the 18th place globally with the largest GDP, amounting to 1.040 trillion US dollars, followed by the United Arab Emirates second and 32nd globally, with a total GDP of 501.354 million US dollars, followed by Egypt third and 35th globally with a total GDP of 435,621 One million US dollars, followed by Iraq fourth and 47th globally, with a gross domestic product of 297.341 million US dollars, and then Qatar ranked fifth and 225.716 million US dollars.

The magazine noted that “the global gross domestic product is nearly 94 trillion US dollars, and the United States accounts for more than one-fifth of this number alone,” noting that “the world’s fastest growing major economies are China, India and Brazil.   link

Wanted to share a video about the Streets of Iraq and Kurdistan to be specific. YOu might be surprised –

Thank you so much for forwarding that vid clip in Erbil. Sure looks like life there is very normal. Nothing broken, no damaged buildings, everything looked very clean. Very impressive willoninny thanks!

The International Monetary Fund, Organizes A High-Level Roundtable Workshop On “Central Bank Digital Currencies And The Future Of The Monetary System”

The workshop discusses

 Technical, regulatory and supervisory requirements related to the issuance of digital currencies

 Central banks and their implications for monetary policy, financial stability and financial intermediation

The role of central bank digital currencies in promoting financial inclusion  

Opportunities and applications of central bank digital currencies in cross-border payments

His Excellency Dr. Fahd bin Abdullah Al Mubarak, Governor of the Central Bank of Saudi Arabia, and His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, will be inaugurated on Monday morning, September 19 (September) 2022 at the Ritz-Carlton Hotel in Jeddah in the Kingdom Saudi Arabia

The high-level round table workshop on “Digital currencies for central banks and the future of the monetary system”, organized by the Arab Monetary Fund in cooperation with the Saudi Central Bank and the International Monetary Fund, within the framework of the activities of the meeting of the forty-sixth session of the Council of Governors of Arab Central Banks and Monetary Institutions. Also speaking at the opening session is Dr. Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund.

The workshop will be attended by their Excellencies the governors of Arab central banks and monetary institutions, and a number of senior officials from the International Monetary Fund, the World Bank, the Bank for International Settlements, the Swedish Central Bank, the Central Bank of Indonesia, the Monetary Authority of Hong Kong, the Financial Stability Board, and the International Committee on Payment Systems and Infrastructure Financial Infrastructure, the World Economic Forum, in addition to a number of Their Excellencies the General Managers of the most prominent Arab banks and financial institutions.

The workshop discusses design considerations and technical and regulatory requirements related to issuing digital currencies to central banks and their repercussions. The different design options will be identified and provide feasibility criteria that motivate users and service providers to use digital currencies for central banks, as well as the impact of these options on monetary policy and financial stability. Payment systems, and financial intermediation.

The discussions also include the role of digital currencies for central banks in promoting financial inclusion, and how to improve risk management in order to enhance the protection of consumers of financial services, in terms of maintaining the integrity of financial transactions and strengthening the regulatory and supervisory aspects . 

The discussions will also touch on the applications of digital currencies for central banks in cross-border payments, and identify the requirements for building digital platforms to enhance the efficiency and comprehensiveness of cross-border payments.

The workshop provides an opportunity for dialogue between their Excellencies, governors of central banks and Arab monetary institutions, on the trends of digital currencies and the future of the global monetary system, and its impact on the business models of financial and banking institutions and payment services.

On this occasion, His Excellency the Director-General and Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdulrahman bin Abdullah Al-Hamidi, stressed the importance of the topic for central banks, pointing out that the workshop provides an important opportunity for dialogue, knowledge transfer and exchange of experiences and expertise between Arab central banks in this regard. His Excellency also praised the guiding principles and papers prepared by the Arab Monetary Fund on the subject, especially the “Practical Guide for Arab Central Banks on Issuing Digital Currency”, which was published in February 2022.

His Excellency Dr. Al-Hamidi also renewed his thanks and gratitude to the Kingdom of Saudi Arabia for hosting the meeting of the Board of Governors of Arab Central Banks and Monetary Institutions and this accompanying workshop,  praising the existing cooperation with the Saudi Central Bank and the facilities it provided for the success of the meeting and the workshop.  

Al-Kazemi: Iraq is going through a political crisis that may be the most difficult after 2003

Prime Minister Mustafa Al-Kadhimi suggested on Saturday that the current political crisis in the country will be the most difficult since the fall of Saddam Hussein’s regime at the hands of the forces of the United States of America and its allies.

Al-Kazemi said in a statement on the occasion of the end of the ceremony of the fortieth visit of Imam Hussein in Karbala, that “Iraq is going through a political crisis that may be one of the most difficult crises after 2003, but we have hope and determination to find solutions to overcome this crisis, in order to cross and move towards a secure and stable Iraq.”

He added, “My appeal to all political forces is, let us take inspiration from this forty-year occasion, and to put Iraq and the Iraqis in mind,” adding, “Iraq and Iraqis deserve to sacrifice for them. Iraq is a trust in everyone’s neck.”

The political scene in Iraq has undergone a dangerous turn since the supporters of the Sadrist movement led by the prominent Shiite cleric Muqtada al-Sadr stormed the parliament building in the fortified Green Zone in central Baghdad, and protested against Al-Sudani’s nomination for the position of prime minister of the next federal government, and withdrew from it by order of their leader after an armed clash With the security forces and elements of the armed factions.

The Sadrist bloc had obtained the highest votes in the early legislative elections that took place in October of 2021, but the efforts of the leader of the current failed to form the new federal government due to the Shiite coordination framework standing in its way by obtaining a fatwa from the Federal Court with the so-called blocking third in a contract The session for electing the President of the Republic, which paves the way for naming the Prime Minister.

The three-way alliance between the Kurdistan Democratic Party led by Masoud Barzani, the Sovereignty Alliance headed by Khamis al-Khanjar, and the Sadrist movement led by Muqtada al-Sadr was broken following the resignation of the Sadrist bloc’s deputies, and the movement’s withdrawal from the political process by order of al-Sadr.

The political scene is living in a crisis situation and a dead end unprecedented in the history of Iraq, as more than 300 days have passed since the early elections without being able to form a new government in the country, and the survival of the caretaker government headed by Mustafa Al-Kazemi.

On the tenth of last October, Iraq held early legislative elections to get out of a political crisis that swept the country after large demonstrations in the central and southern regions in 2019 in protest against the widespread unemployment in society, the spread of financial and administrative corruption in government departments and institutions, and the deteriorating reality The service and the livelihood, which prompted the former prime minister, Adel Abdul-Mahdi, to resign under popular pressure.

As soon as the preliminary results of the elections were announced, the voices of political forces and actors rose in their rejection of losing many seats, accusing them of major fraud in the ballot, which was denied by the executive and judicial authorities, at a time when the United Nations and international organizations praised the integrity of the electoral process.   link

Source: Dinar Recaps

Next week, the UN General Assembly convenes amid deep divisions and a global crisis

Baghdad – Mawazine News

About 150 world leaders will participate next week in the meetings of the United Nations General Assembly in New York, amid divisions over the war in Ukraine.

A few days before the annual rally, UN Secretary-General Antonio Guterres said, “Our world is ravaged by war, wracked by climate chaos, wracked by hate, and shamed by poverty and inequality.”
Guterres added that geostrategic divisions “have never been this large since at least the Cold War… and are crippling the global response to these enormous challenges,” calling on world leaders to “work together” to find solutions.

Observers believe that the unification of global efforts has become a distant hope, as evidenced by the discussions about the Ukrainian president’s participation via video.

This year, there will be a return to the usual protocols, for any leader to speak before the General Assembly from Tuesday, in person, with the “special exception” of Vladimir Zelensky.

Ukraine’s President Zelensky was authorized, by a special vote in the General Assembly, on Friday, to send a pre-recorded message to the assembly, despite the dismay of Russia, which denounced what it called “the politicization of a procedural issue.”

“A number of countries are concerned that while we focus on Ukraine we are not paying enough attention to other crises around the world. It is not the case,” US Ambassador to the United Nations, Linda Thomas Greenfield, told AFP.

“Things are going on as usual. We cannot ignore what is happening in the rest of the world,” she added, stressing in particular the food crisis, which will be the focus of many events.

For its part, the French presidency said that President Emmanuel Macron “will be keen on … dialogue with the southern partners to dispel the idea that the West is against the rest of the world,” and that the “climate emergency” will also be “at the heart of all issues of concern.”

Source: Dinar Recaps


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