Sun. AM-PM TNT News Articles from Iraq 4-9-23



An upcoming meeting between Parliamentary Finance and ministers prior to amending the budget

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Sunday, the anticipation of holding several meetings with the relevant ministers to make the necessary adjustments to the budget, indicating that the budget deficit is very large and requires a reduction.

Cougar said in an interview with the information agency, that “there are many observations about budget legislation for three years within the House of Representatives.”

He added that “the budget may witness amendments to some of its items and paragraphs in light of the large deficit, and that large paragraphs should be studied, therefore we have three weeks’ time to sit with the ministers and the Minister of Finance and Planning.”

He pointed out that “the authority of the Finance Committee and the House of Representatives is first to reduce the deficit, secondly to transfer, and thirdly to add paragraphs that have no financial side.”

He explained that “Parliament will make some amendments in the paragraphs and items of the budget according to the powers granted to it without any financial additions.” 

The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, has stressed the need to expedite the legislation of the budget law in a way that guarantees the rights of the governorates to implement their service projects.  link


Iraq discusses with the World Bank accelerating the work of projects funded by grants and loans

Ministry of Planning with World Bank Representative in Iraq Richard Abdel Nour,

Mubasher: The Ministry of Planning discussed with World Bank representative in Iraq Richard Abdel Nour, on Sunday, accelerating the work of projects funded by international grants and loans.

“The Deputy Prime Minister – Minister of Planning Mohammed Ali Tamim, met today with the representative of the World Bank in Iraq, Richard Abdul Nour, and his accompanying delegation, the ministry said in a statement on Sunday.

She pointed out that “during the meeting, which was attended by the Director General of International Cooperation Saher Abdulkadir, and a number of officials in the ministry, a number of issues related to joint cooperation between Iraq and the World Bank were discussed.”

She added that “the meeting dealt with the mechanisms of working in the implementation of service projects in the poorest regions and villages, implemented by the Ministry of Planning, within the Social Fund for Development funded by a loan from the World Bank.”

She pointed out that “it was agreed to work together to develop appropriate mechanisms that will accelerate the pace of work in the completion of these projects because of the importance of them in enabling the people of the covered villages to access basic services.”


The meeting also witnessed the discussion of joint work between the Ministries of Planning and Finance and the World Bank to develop appropriate mechanisms and instructions, which will address and overcome all problems facing the implementation of projects funded by the World Bank and international organizations.null

Two decades to occupy Baghdad. How do Iraqis remember this day?

Shafaq News / On this day, April 9, 2003, Iraqis recall the scenes of US forces entering the heart of the capital Baghdad and the penetration of an American crane in Paradise Square and bringing down the statue of the late President Saddam Hussein, at a moment that the world considered an official announcement of the fall of the regime and the beginning of a new Iraq after about 3 weeks of heavy bombing and asymmetrical battles.

20 years ago, an international military coalition, led by the United States and Britain, began the invasion of Iraq on March 20, 2003, and toppled the regime of Saddam Hussein (1979-2003); allegedly possessing weapons of mass destruction and supporting terrorist organizations.

The secret of the sudden fall

The sudden and rapid fall of the capital Baghdad in the hands of American forces shocked many who believed that the battle of Baghdad would last, but this perception did not happen, due to the combination of several factors that helped this collapse.

One of the most prominent of these factors is “the great weakness suffered by the Iraqi army after the Desert Storm War in 1991, especially in equipment, equipment, weapons and equipment, in addition to the existence of a crisis in military strategy and the siege, so Iraq was at the height of its weakness,” according to the military expert, Major General Majid Al-Qaisi.

Al-Qaisi adds to Shafaq News that “the occupation operation was by America and Britain and with the participation of about 29 other countries, and they had mobilized about 293,000 soldiers to occupy Baghdad from the four directions through 4 to 5 military teams, so they were able to occupy it within 19 days, but this short period was surprising to them.”

He continues, “Plan 1003, which was intended to occupy Baghdad, expected to take control of the Iraqi capital from 90 to 120 days, but the weakness of the Iraqi armed forces for the above reasons, in addition to the lack of air force, nor large reserves in the field of tanks, and the traditional methods followed contributed to uneven performance, and thus Baghdad fell.”

He explains, “Political factors also played a role in making big mistakes, as the military and political decision was in the hands of one person, in addition to political differences with regional and international countries.”


It is noteworthy that after the fall of Baghdad, large-scale looting and looting operations began in the capital and some other cities, and these operations were transmitted to the whole world through television screens; where the US military only protected the buildings of the Ministries of Oil and Interior, including intelligence, and other institutions such as banks, weapons stores, facilities and hospitals remained without any protection.

Although the Iraqis comment on this day and recall it, but they still disagree on it, whether it is an occupation or liberation, and some governorates have suspended official working hours on this occasion, unlike governorates that continued to work, which indicates that they did not agree on this occasion.

Backfire to the occupation

In this context, the security expert, Alaa Al-Nashou, says that “Baghdad occupied and did not fall into military, security and legal calculations, because Baghdad is historically the capital of the Arab Islamic State from the second century AH until the seventh century, and it is the capital of the world and the Kaaba of science and knowledge that all earth scholars meant, because of its sacred position in science, knowledge and great cultural advancement.”

Al-Nashwa adds to Shafaq News, “Baghdad remains and the occupiers are leaving, so it was called the conqueror’s Cairo, and the humiliation of the aggressors, occupied by the Mongols, the Tatars, the Ottomans, the Persians, the British and the Americans, so they were the departers and the remaining Baghdad.”

He continues that “America, Britain and the international alliance came up with many fallacies, including the lie of weapons of mass destruction, and that Iraq threatens international security and peace, but in fact they were wrong in many of those accounts, the opposite results in the occupation of Iraq, which has become a hotbed of international intelligence services, and a haven for all extremist groups in the world, which destroyed the national security of Iraq and the entire region.”

What does Iraq need today?

The writer and political analyst, Ali Al-Bayder, points out that “there is a dilution in Iraq of the concept of the state in favor of political parties and currents, and the level has reached that the institution is the monopoly of a certain family or class names, which led to the dispersion of the government effort and the non-implementation of the ministerial curriculum of previous governments.”

Al-Bayder assures Shafaq News that “Iraq needs to change many emerging or even old concepts, and to build a real state by activating the role of state institutions, regulations, instructions, laws and constitutional aspects, and that the current prime minister has aspirations based on making new concepts and restoring the citizen’s confidence in the state and its institutions and making him a success factor and partner in overcoming failures.”

He continues, “There is a desire even at the regional and international level to pull Iraq out of its reality and turn it into a better reality, as the world today needs Iraq more, especially after the Ukrainian-Russian crisis, so it is necessary to liquidate internal crises to overcome external crises and build a state of institutions and absolute citizenship.”


Source: Dinar Recaps

Foreign currency window and the stability of the dinar exchange rate

The procedures of the Central Bank and the three packages issued by it to facilitate obtaining foreign currency for foreign trade purposes and cover travel, treatment and study expenses for citizens, and the strict adherence of banks to the instructions and controls for external transfer for the year 2023 and the due diligence instructions, and the Central Bank’s departments dismantled the obstacles facing foreign transfers operations in cooperation with international bodies.

Which led to the entry of new numbers of merchants and importers to the electronic platform, which raised the rates of foreign remittances amounts in the foreign currency sale window, which ranged between 150-200 million dollars per day, and this was reflected in bridging part of the gap between the official price and the price parallel to the exchange rate of the dinar against the US dollar

And we expect During the coming period, the dinar will continue to recover and its purchasing value in the market will increase. We also expect that the central bank’s efforts will continue to issue new packages to facilitate external transfers.

The important thing in the increase in foreign currency window sales is to make sure 100% that all foreign transfers that are made according to the electronic platform are sound transfers according to international standards and that the foreign currency sale window is an economic indicator that achieves one of the goals of monetary policy. 

And that “drawing accusations against the Central Bank and banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling, and that the proposition that says selling currency is a waste of public money, this is a description that has nothing to do with the economic process.”

It must be noted that “the process of selling the currency window began to be implemented by the Central Bank on 4/10/2004 in implementation of Article 28 of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and work has continued on this process to meet the needs of the Ministry of Finance in terms of currency For the purposes of the operational budget, the purchase of dinars from the public for the purpose of controlling liquidity level

Which is known as the process of monetary sterilization on the one hand, and to rotate the dinar and resell it to the Ministry of Finance for the purposes of paying salaries and wages and securing government expenditures as well as meeting and covering imports, and maintaining the stability of the target exchange rate from the Central Bank.

And that “the window for selling foreign currency is considered one of the largest open market operations in controlling local liquidity levels and placing the cash surplus in its proper paths, which is a good economic indicator and achieves one of the objectives of monetary policy, and this is consistent with what is practiced by” the Central Bank of Iraq of multidimensional functions, as it is concerned with financial stability Managing the payment system, managing foreign reserves, licensing and monitoring banks and financial institutions, and setting up preventive controls, in addition to other tasks related to cash issuance and publishing economic data, indicators and forecasts.


And that “the basic tasks that the central bank performs is managing monetary policy that aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.”  link

Source: Dinar Recaps


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