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“Iraq is Very Simple” – Mon. AM TNT Thoughts/News 10-24-22

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TNT

Tishwash:
Iraqi economist: The accounting system in Iraq has been in place since 1942 and must be updated

Economic expert Dr. Safwan Qusay stressed the need to introduce electronic systems into the accounting system that has been in place since 1942, pointing out the importance of linking companies’ data to an electronic system that knows all incoming and outgoing.

Qusay said: “There are demands to find a system for restricting government accounts so that the Ministry of Finance is aware of public spending in state departments through electronic connectivity, especially since suppliers, contractors and companies have an identification number issued by the Companies Registrar that shows the volume of transactions that these companies can conduct.” .

He added that “the need has become an urgent need to find a unified data window for the purpose of inquiry and can be used by all parties so that they can control the monetary movement, but the issue is still in the ministries is done manually.”

And he indicated that “the responsible authorities did not set a classification for the suppliers and there is no identification number for each supplier, in addition to the lack of supervision by the Companies Registrar Department, as well as the lack of follow-up by the auditors who can check the companies’ accounts and verify the revenues and deductions, and therefore the issue needs to be rehabilitated. The accounting system in place since 1940.    link

Parliamentary direction to gradually restore the dollar exchange rate.. document

A number of members of the Iraqi Council of Representatives demanded the inclusion of the voting paragraph on restoring the exchange rate of the US dollar against the Iraqi dinar to its previous official rate. 

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A member of the Parliamentary Integrity Committee, Hamid Al-Shiblawi, said, according to an official document obtained by Shafak News Agency, entitled “Reducing the dollar exchange rate”, that “due to the repercussions of the rise in the exchange rate of the dollar against the dinar, which negatively affected the economic situation of the Iraqi family, which burdened the citizen.” Especially those with low incomes.

We, members of the attached list, ask the Presidency of the House of Representatives to include a paragraph to reduce the dollar exchange rate and gradually return it to the previous exchange rate within the work schedule of the next session in the public interest.

The list showed the signatures of 40 deputies so far. 

It is noteworthy that the Central Bank of Iraq, on December 19, 2020, officially announced the amendment of the foreign currency exchange rate (the US dollar) to be 1450 dinars, instead of 1200 dinars, for every 100 dollars, according to the state’s general budget for the year 2021 approved by the House of Representatives. .

As a result, according to specialists, the annual inflation in Iraq has risen significantly, so that all prices of materials and goods in the Iraqi market have risen significantly, which has sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.

the text:

to Mr deputy
Bassem Al-Gharabi
The dollar exchange rate was reduced
good greeting
In view of the repercussions of the rise in the exchange rate of the dollar against the Iraqi dinar, which negatively affected the economic situation of the Iraqi family, which burdened the citizen, especially those with limited income,

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The members yearn for the signatories – the accompanying list linking together. We demand from the Presidency of the House of Representatives the Louvre to include a paragraph (reducing the dollar exchange rate and gradually returning it to the previous exchange rate) in the work schedule of the next session in the service of the public interest for escorts

Second
A list of the names and signatures of the ladies and gentlemen of the members
Hussein Ali currently
Hamid Al-Shiblawy
1- Dr.  Salman   link

RVAlready:
Yes. I think the CBI is ready to release the RV, once the cabinet is released.

Iraq is very simple. They are still essentially tribal and politically territorial. They are simply fighting over which tribe will own which government department, which they will rob for the next 4 years. Nothing strange about it. They do this every time they appoint a new cabinet. There is nothing new this time.

Alf:
so controlled larceny?

RVAlready:
Yep, I will rob the dod and you will rob the health department.

Yada:
Agreed rvalready,,just the drama of making their demands while the dust settles of the Reissue of their currency. The world awaits.

Alf:
I don’t think the world is about to wait much longer. according to the latest news

RVAlready:
No, I don’t think the UN wants to wait. And I think they primarily care about the RV. Probably more than they care about the cabinet.

Yada:
Agreed. It like a circuit switch. They, the UN just need it turned on knowing they will control the country from the outside once they are connected. Remember, they were not connected to the work financially so they were manipulating from within. Get ready folks,

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Red:
sometimes in the future the USA will give to Iraq the nod then we will have our RV

Yada:
Keep this in mind folks, there are two events. The first will be the Reissue. And then they may revalue or increase the value from the reissue rate.

9Ball:
Yada, how long do you think it will take to go from an RI to a RV ?

Yada:
RI is what we are awaiting now. RV,,who knows,, but not waiting for it. RI starts it all for us.

Semperfi01:
RI means the reinstatement of the currency at the value that it was when it was taken down plus 10% or so . RV means to not only reinstate it but with a sizeable increase in its value Roughly.

Selling ministries is a prevalent political “custom” before the formation of Iraqi governments

The phenomenon happened after investors and businessmen entered the scene to invest their money in governments.”

The political forces in Iraq continue their struggles to acquire ministerial portfolios, especially the sovereign ministries, in an auction that was known before the formation of the new government. 

A member of the Al-Fateh Alliance, Mahmoud Al-Hayani, revealed that the sale and purchase of ministries has returned to the political front, noting that the price of the Ministry of Defense has reached $75 million.

Al-Hayani said in a press statement that “there are auctions and conflicts between the political blocs over ministerial portfolios and special degrees,” noting that “the competition between them amounts to huge sums.”

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Al-Hayani quoted “informed sources” that “the price of the Ministry of Defense – which is part of the Sunni component – reached 75 million dollars.” He explained that “the ministries’ price increases according to their importance,” noting that “there is a ministry that was sold to more than one person.”

Investors are in control 

Political researcher Ali Al-Baydar believes that this phenomenon occurred after investors and businessmen entered the political scene to invest their money in governments by granting some political leaders sums of money as a result of giving them certain ministries that are supervised through them and harnessing their resources for their benefit.

“It also happened through financing political projects and electoral campaigns in exchange for compensating them with some ministerial shares when those electoral blocs obtain parliamentary seats,” he added.

He continued, the matter was negatively reflected on the performance of ministries and government institutions that were harnessed for the benefit of partisan projects without providing anything for the public interest.

He continued, “The situation continued even with the government of Muhammad Shia Al-Sudani, which has not yet seen the light, and the value of some ministries has reached more than 100 million dollars. This situation is more prevalent within the Sunni blocs than others.” All violations that occur in order to reduce corruption and pass certain deals.

Al-Baydar stressed, “There is a clear political and financial servitude. Investors have become the biggest controller in the political scene and through them any deal is passed.”

He noted that there is supposed to be a security apparatus specialized in political security, preventing the arrival of any suspicious figure and exposing all corruption deals that take place. He believed that the political process was based on many mistakes, and the accumulation of those mistakes generated a distorted political scene capable of embracing all suspicions.

He added, “Errors are present in all blocs and components, and the process of covering up the error has become a collective case, so it is easy to penetrate any political grouping and pass everything the corrupt want through it.”

infection 

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Selling ministries for millions of dollars is new to the political process after 2003, which the political researcher Nabil Jabbar Al-Tamimi referred to, as in the world of contracting and construction, his infection shifted to politics, where some shoddy companies worked to control contracts as their exclusive privilege, as a main contractor, then Contracts or parts thereof are passed back to small contractors or sub-contractors, through which companies reap huge profits without much effort. 

According to Al-Tamimi, in Iraqi politics, some politicians established the theory of selling positions until it became a custom, claiming electoral merit or a balance of components. Large parties seize ministries and share them, and then some of them seek to capture early by offering them (for sale or rent) during the government’s continuation, According to financial estimates set by the two parties, based on the size of that ministry, its allocations, and the possibility of its employment and exploitation.   link

Source: Dinar Recaps

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