Thurs. PM TNT Iraq News Articles 2-16-23



Bilateral talks: America is rushing to impose trusteeship on Iraq in terms of energy, dollars and technology

The Iraqi-American statement, after the end of bilateral talks in Washington, is devoid of postponing US restrictions on the dollar exchange markets in Iraq, while focusing on achieving energy independence in reference to the dimensions of the Iranian partnership, as well as an American willingness to link the Iraqi technological system with American mechanisms. It means absolute domination of the political and economic tracks in Iraq.

In the statement, Washington affirmed that it would help Iraq achieve its independence in the field of energy and invest associated gas with the aim of achieving its liberation from Iranian gas, which it currently needs to provide electric power to its citizens.

Also, private US companies in the field of technology will have a strong entry to face the energy challenges in Iraq.

The American side did not respond to Washington’s request to postpone the recent banking restrictions imposed on Baghdad, but it welcomed the Iraqi monetary reforms.

The American Heritage organization, which is close to the White House, reported that the Iraqi delegation in Washington, after facing its requests for a period of exemption from US restrictions on the transfer of dollars to Iraq, retracted its previous demands and moved towards demanding a “relaxation” of the current restrictions, instead of canceling them temporarily.

Reuters had reported that US sanctions on Iraqi commercial banks aim to increase pressure on Iran’s nuclear program and that America is using strict restrictions on the dollar in Iraq as warning messages to Al-Sudani to keep abreast of US interests.


The observer of Iraqi affairs, Ali al-Rubaie, believes that what is happening is an American tutelage. Despite Iraq’s exit from Chapter VII, according to Resolution 2621, which stipulates the termination of the mandate of the United Nations Compensation Commission and the lifting of all financial restrictions, the Central Bank of Iraq cannot withdraw money from American banks.

The statement of the US-Iraqi Higher Coordination Committee stated that “both Iraqi Deputy Prime Minister and Foreign Minister Fouad Hussein and US Secretary of State Anthony Blinken headed his country’s delegation at a meeting of the Higher Coordination Committee that was held in accordance with the strategic framework agreement signed between them in 2008.

Where the two delegations stressed their determination Deepening the strategic relationship between the two countries across a full range of bilateral issues for the sake of the national interests of both countries and their common interests in regional stability.

The joint statement considered this meeting as the first for the Higher Coordination Committee to focus on economic cooperation, energy sector development, and climate change, which is a sign of a mature strategic partnership under the Strategic Framework Agreement.

The Iraqi delegation included high-level representatives of the ministries of oil, finance and foreign affairs, while the American delegation included representatives of the ministries of foreign affairs, treasury, energy and commerce, the global anti-corruption coordinator and the coordinator of the National Security Council for the Middle East.

The joint statement indicated that the two sides discussed the challenges facing the Iraqi economy, including the parallel exchange rate markets, where the United States welcomed the efforts of the Iraqi government to enact economic reforms, as well as reforms in the field of monetary policy, modernizing the banking and financial sector, combating corruption, and preventing manipulation of the financial system. – Measures that will help enhance Iraq’s economic prospects, including strengthening the financial and exchange markets.

The US delegation affirmed its support for Iraq’s continuous efforts to build technical capabilities and implement international standards to protect the banking system from financial crimes, money laundering and terrorist financing. They also affirmed their determination to continue working together to modernize the financial system in Iraq in order to improve the conditions of the Iraqi people.


The American and Iraqi delegations confirmed the convergence of views that pursuing an ambitious agenda for energy independence is necessary to achieve maximum economic prosperity for Iraq and protect its sovereignty.

The two delegations also agreed that Iraq has a historic opportunity to invest in energy infrastructure initiatives designed to improve electricity services for the Iraqi people, secure energy self-sufficiency for Iraq, and mitigate environmental damage to both the global climate and Iraqi public health.

Providing natural gas and modernizing the electrical infrastructure

. To this end, the two sides decided to accelerate efforts to capture the flared gas, modernize the infrastructure for natural gas distribution, reduce methane leakage, connect regionally to the Iraqi electricity grid, modernize the electricity infrastructure in Iraq, and explore renewable energy opportunities.

The US delegation praised Iraq’s commitment to regional electrical interconnection projects with Jordan, Saudi Arabia and the GCC Electricity Interconnection Authority. link

The President of the World Bank suddenly steps down from his post.. Is the decision linked to the White House? 

David Malpass, President of the World Bank, intends to step down early from his post, in a decision described within the bank’s corridors as “surprising”, while reports indicate that the decision is somehow linked to the White House.  

According to long-standing practice, the US government chooses the head of the World Bank, while European leaders choose the head of the International Monetary Fund.  

Donald Trump appointed Malpass to the position while he was president of the United States.  

But the man was criticized by the White House, which is currently ruled by Joe Biden, because of his lack of clarity in his position on the scientific consensus on global warming.  


Climate and the White House  

The United Nations, world leaders and environmental groups have been pressing for more than two years to shake up the World Bank’s leadership, paving the way for a new president who reforms the bank’s course of action to be more responsive to climate change.  

The pressure on Malpass was renewed in September when the World Bank chief stumbled while answering a question about whether he believed in the scientific consensus on climate change, drawing condemnation from the White House.  

Malpass has faced accusations from former US Vice President Al Gore of questioning the climate issue and refraining from promoting funding for climate projects in developing countries.   

During an interview organized by The New York Times the next day, David Malpass refused three times to confirm whether he acknowledged the role of fossil fuels in global warming. “I’m not a scientist,” he eventually said, under public pressure.  

Recently, US Treasury Secretary Janet Yellen began taking aggressive action to reform the way the World Bank operates to ensure more lending to combat climate change and other global challenges.  

Sudden resignation  

David Malpass, 66, said on Wednesday he will leave his post by the end of June.  

Malpass has less than a year left until the end of his five-year term.  

Malpass assumed the presidency of the World Bank in April 2019, after serving as Undersecretary of the US Treasury for International Affairs in the Trump administration.  


Malpass did not specify the reason that prompted him to take this step, saying in a statement, “After much consideration, I decided to take on new challenges.”  

Malpass said in a statement that the group “is fundamentally sound, financially viable and well-positioned to increase its impact on development in the face of pressing global crises,” stressing that his resignation is “an opportunity for a smooth transition of leadership.”   

Bank sources said they were surprised by the decision to step down ahead of joint meetings of the World Bank and International Monetary Fund in Morocco in October.  

Thank you, Malpas.  

U.S. Treasury Secretary Janet Yellen thanked Malpass for his time as head of the Bank, saying the world had benefited from its strong support for Ukraine, its tireless work to help the Afghan people, and its commitment to helping low-income countries achieve debt sustainability through debt reduction.  

Yellen said the United States would soon announce its nominee to succeed Malpass and looked forward to a “transparent, merit-based and expedited nomination process for the selection of the next president of the World Bank” by the bank’s board.  

Last year, the World Bank allocated more than $104 billion to set up projects worldwide, according to the bank’s annual report.    

A source familiar with the matter told Reuters that the end of the fiscal year was a normal time to leave the post.  

World Bank governors are expected to adopt a reform roadmap for the bank, with minor tweaks, at the spring meetings of the International Monetary Fund and World Bank in mid-April.   

The World Bank was established in 1944 and supports development projects.  


It currently has 189 member states and more than ten thousand employees worldwide. link

Source: Dinar Recaps


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