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Tues. PM KTFA News Articles/Thoughts 11-8-22

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Samson » November 8th, 2022

Lavrov: At least 12 countries have expressed interest in joining BRICS

08/11/2022 15:50:58

Russian Foreign Minister Sergei Lavrov announced that at least 12 countries have expressed interest in joining the “BRICS” group.

This came during the minister’s meeting with Indian Foreign Minister Subrahmanam Jaishankar, today, Tuesday, where Lavrov continued, that the organization intends to agree soon on the criteria and principles for its possible expansion, noting that “before talking about how and when exactly the BRICS expansion will start, we agreed as part of the five on agreeing on criteria and principles for considering such requests,”

Lavrov expressed his expectation that it would not take long to agree on criteria and principles for the organization’s expansion.

BRICS is a grouping of countries with the fastest economic growth in the world, and the name consists of the abbreviation of the Latin initials that make up the names of the participating countries: Brazil, Russia, India, China and South Africa. The first summit between the heads of the four founding states was held in Yekaterinburg, Russia, in June 2009.  LINK

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Turkey announces the purchase of gas from Russia in rubles

8th November, 2022

Turkish Energy Minister, Fatih Donmez, said, on Tuesday, that Turkey has started to pay partly in rubles for its purchases of Russian natural gas.

In an interview with the TRT news channel of the Turkish Radio and Television Corporation, Donmez said the share of payments in local currency for energy imports from Russia would increase in the coming months.

Russian President Vladimir Putin said in September that Turkey would pay about 25 percent of Russian gas supplies in rubles. Russian energy imports are an important source of energy in Turkey, as the proportion of Russian gas reached 45 percent of Turkey’s gas imports, which gave Moscow a large surplus in trade exchange between the two countries.

Putin and Turkish President Recep Tayyip Erdogan agreed, earlier last August, on measures that would allow Turkey and Russia to use local currencies in the trade exchange between the two countries. LINK

A political bloc links the dollar exchange rate to the popularity of the Sudanese government

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8th November, 2022

A deputy from the Sadiqoun bloc, Zainab Juma al-Moussawi, confirmed today, Tuesday, that changing the Iraqi dinar exchange rate helps the poor segment and increases the popularity of the Sudanese government.

Al-Moussawi said in a statement, followed by Mawazine News, that “the restoration of the old exchange rate means a reduction in the value of prices in the Iraqi market and indirectly helps the poor citizen to face the high prices.”

The statement added, “Changing the exchange rate means increasing the popularity of the current government because it took an approach contrary to the previous government, which narrowed the Iraqi citizen.”   

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ATPinfinity » November 8th, 2022

To stay “popular”, sooner or later somebody better throw the people a bone….

“the restoration of the old exchange rate means a reduction in the value of prices in the Iraqi market…”
 AND the added side effect of INTERNATIONAL EXCHANGE!

“IT’S NOW OR NEVER”  Elvis (this tune of exchange rate change, “changing the Iraqi dinar exchange rate”
is getting too much MEDIA attention to go AWAY; IMO)

CAN’T CHANGE CHANGING THE EXCHANGE RATE CHANGE

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Samson » November 8th, 2022

Special monitoring.. 122 trillion dinars, Iraqi financial revenues in September 96% for oil

8th November, 2022

The Ministry of Finance issued the Iraqi state accounts for the month of September for the fiscal year 2022, which indicated that the volume of financial revenues amounted to more than 122 trillion dinars and a financial surplus of more than 38 trillion dinars, while it indicated that the contribution of oil to the federal budget is still 96% for the month. Sixth in a row, while an economist called for the necessity of activating the economic sectors.

Shafak News Agency followed the data and tables issued by the Ministry of Finance in the current month of November for the accounts of last September, which indicated that oil is still the main resource for Iraq’s general budget, reaching 96%, which is the same percentage for the past six months, which indicates that the rentier economy is The basis for Iraq’s general budget.

Through the financial tables, it was shown that the total oil revenues for the month of September amounted to 122 trillion and 796 billion and 502 million and 987 thousand and 111 dinars, which represents 96% of the total revenues, while the total non-oil revenues amounted to 4 trillion and 958 billion and 597 million and 101 thousand and 636 dinars, which constitute 4% of the total revenues, indicating that the total expenditures with the advances amounted to 84 trillion and 666 billion and 606 million dinars.

According to the finance table, the budget surplus for the month of September amounted to 38 trillion and 129 billion and 896 million dinars, or the equivalent of 26.115 billion dollars.

For his part, the financial expert, Hilal al-Taan, called in an interview with Shafaq News Agency to “accelerate the diversification of the Iraqi economy and get rid of the rentier economic system in light of the high budget of Iraq and the existing surplus in order to free itself from dependence on oil as a basic material in Iraq’s annual budget,” noting that “the prices of oil is affected by economic, political and health fluctuations in the world and by violent shocks as a result of fluctuations in global demand.”

He added, “The countries of the world began to move towards manufacturing industries, as they are the most dynamic, which equips the world with more new products and without interruption,” noting that “Iraq if this money is not used now, it will waste the opportunity for progress and prosperity, and the future of future generations will be lost to misery and weakness in a world where it prevails.” Developed and powerful countries.

The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview with Shafaq News Agency that the reasons for the survival of the economy are rentier due to wars and the imposition of siege during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.

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The continuation of the Iraqi state to rely on oil as the only source of the general budget makes Iraq at risk of global crises that occur from time to time due to the impact of oil on it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions. LINK

The issuance of nearly 500 court rulings against convicts of corruption cases in the Kurdistan Region within one year

8th November, 2022

The authorities in Kurdistan Region reported, on Tuesday, that its courts had issued nearly 500 court rulings in cases related to financial and administrative corruption during the year 2021, stressing that Iraq is still among the 20 most corrupt countries in the world.

This came during a conference held in the city of Erbil on government reforms in the file of integrity and combating corruption in the Kurdistan Region.

The coordinator of international recommendations in the Kurdistan Regional Government, Dindar Zebari, said in a speech during the conference, that: in the year 2021, specifically on the issue of combating corruption, 493 judicial rulings were issued, including 337 rulings that were implemented against 404 defendants who were convicted of charges related to financial and administrative corruption, stressing that it was restored. Large sums of money to the government treasury through the fight against corruption.

In turn, the head of the Integrity Commission in the Region, Judge Ahmed Anwar, said, in a speech also during the conference, that Iraq is among the 20 most corrupt countries in the world according to Transparency International, and certainly when the name of Iraq appears, the Kurdistan Region is also included because it is part of the Iraqi state on although we are convinced that corruption in the rest of the country is different from the region.

He added that the international organization does not have information about the region because it derives its information from official institutions from the Iraqi state. However, the organization is scheduled to open an office in Kurdistan, and it also has an office in Baghdad.

The two Kurdish government officials stressed the need to establish a special court dealing with corruption cases in the region.  LINK

Al-Sudani reveals that a large proportion of the “stealing of the century” money has gone out of Iraq

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8th November, 2022

The Iraqi Prime Minister, Muhammad Al-Sudani, revealed on Tuesday that a large proportion of the money that was embezzled in the case of tax trusts and what has become called “theft of the century” went out of the country, calling on countries to cooperate to restore them.

Al-Sudani said in a press conference held today, after the end of the cabinet session, which was attended by Shafak News Agency, that “Iraq is a member of the United Nations Convention against Corruption,” stressing that “countries must abide by the agreement and cooperation with Iraq.”

And Al-Sudani said, “Initial information indicates that a large proportion of the theft of 3 trillion was sent outside Iraq,” calling on countries to “cooperate with Iraq and return the money.”

Earlier, Al-Sudani decided to transfer the Director General of Investigations in the Integrity Commission out of it due to the failure to perform his duties, and to refer the investigation report in this case to the competent courts.

And the regulatory authorities had previously revealed the embezzlement of tax trust funds in the amount of 3.7 trillion Iraqi dinars, which has become known as “the theft of the century”, and the Iraqi judiciary issued arrest warrants against a number of accused of “the theft of the century” and confiscation of movable and immovable funds and the seizure of real estate belonging to them and their families.   LINK

Revealing new information about the killing of an American citizen in Baghdad

08/11/2022 08:23:53

A security source revealed new information about the killing of an American citizen in the center of the capital, Baghdad, yesterday.

“According to our initial investigations and eyewitnesses, gunmen tried to kidnap the American citizen,” Reuters news agency quoted a source in the Iraqi police.

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The sources added that “the body was taken to a hospital in the Karrada neighborhood, and a preliminary report from the hospital indicated that he died from a bullet.”

And she pointed out that “the victim was carrying an identity card, which showed that he works as an English language teacher.” And she pointed out that “the gunmen opened fire from a vehicle on the sports car in which the victim was traveling, killing him.”

The Prime Minister, Muhammad Shia Al-Sudani, directed the Minister of Interior to form an investigative committee from the specialized agencies of the ministry and other security agencies to investigate the circumstances of the killing of the American citizen.  LINK

Source: Dinar Recaps


Samson » November 8th, 2022

President of the Republic: Iraq currently has a strong economic situation that enables it to complete projects

08/11/2022 12:47:58

The President of the Republic, Abdul Latif Jamal Rashid, received today, Tuesday, at his residence in Sharm El Sheikh, the British Minister of State for Foreign Affairs, Commonwealth Affairs and Development James Cleverly, pointing out that Iraq currently has a strong economic situation that enables it to complete projects.

The office of the President of the Republic stated in a statement received by {Euphrates News} that, “In the meeting, which was held on the sidelines of the United Nations Climate Summit COP 27, friendship and cooperation relations between Iraq and the United Kingdom were discussed, and ways to strengthen them.” 

The President of the Republic spoke about the economic impact of Iraq and its people in the past period, especially during the war against the criminal organization Daesh, but the insistence of the Iraqis to proceed on the path of peace and prosperity made the country maintain its high position in the region, noting that Iraq currently possesses a strong economic situation that enables it to completing projects that serve his children. 

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They also discussed environmental problems and climate change in the region and the world, and their negative effects in increasing desertification and water scarcity, which affect the lives and livelihoods of citizens and produce health and economic damage.

The president pointed out that “the phenomenon of climate change affects all of humanity, but Iraq is one of the countries affected by it greatly, stressing the need to take the necessary measures to reduce it, and the importance of international cooperation and providing the necessary support to overcome these risks through serious joint work and the exchange of experiences.” 

For his part, Minister Cleverly praised Iraq and its people, pointing to the importance of the close relations between the two countries and the need to expand horizons of cooperation in various fields, including those related to confronting the phenomenon of climate change and protecting the environment because of the damage this phenomenon affects all peoples of the world, pointing to the importance of strengthening international efforts and activating ambitious plans through a joint international effort to confront this phenomenon.  LINK

Source: Dinar Recaps

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