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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The New York Times: The mix of crises in Iraq has badly affected the economic situation in the count

    Rocky
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    The New York Times: The mix of crises in Iraq has badly affected the economic situation in the count Empty The New York Times: The mix of crises in Iraq has badly affected the economic situation in the count

    Post by Rocky Wed 01 Apr 2020, 1:29 am


    The New York Times: The mix of crises in Iraq has badly affected the economic situation in the country

    18:09 - 31/03/2020



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    Information / translation ...
    A New York Times report confirmed that political tensions, low oil prices and the Corona virus outbreak made [You must be registered and logged in to see this link.] in a very difficult economic situation as the country was going through its worst crisis in several decades.
    The report, which was translated by Information Agency, stated that “the situation in [You must be registered and logged in to see this link.] economic deteriorating day by day, as oil prices have fallen as the main source of the state, and with the collapse of the international price of oil, the government resorted to requesting donations to help it overcome the crisis of the Corona virus."
    He added that "the curfew at the national level, which was imposed to slow the spread of the virus, led to the closure of trade and the expulsion of the vast majority of non-governmental workers from jobs, while the government wavered after the anti-government protests toppled the Prime Minister and Parliament remained unanimous in choosing a new leadership for the country."
    "What makes the situation particularly bleak is that the mix of crises has virtually eliminated the entire economy," said Iraqi economist Basem Jamil Antoine, adding that "the current economic situation is worse than what we saw before because all productive sectors were suspended, there is no industry, no tourism, nor Means of transportation and agriculture are affected to some extent, we are witnessing almost complete paralysis in economic life, with the closure of the borders between the governorates of [You must be registered and logged in to see this link.] and its borders with other countries.
    The report added that "oil is currently sold for less than half its price three months ago due to a price war between Saudi Arabia and Russia. It has decreased from about $ 60 a barrel at the end of last December to less than $ 30 at the present time."
    For his part, the Executive Director of the International Energy Agency in Paris, Fatih Birol said that "the drop in prices dealt a severe blow to the oil-dependent economies." But he made it clear that "he will face the most severe blow and is the number one country in terms of impact because he does not have financial reserves and because 90 percent of his revenues come from oil." "All of these economic pressures are coming in a really very tense political environment."
    And Antoine said that " [You must be registered and logged in to see this link.] reserves amount to 62 billion dollars, which the International Monetary Fund considers insufficient."
    The report continued that “Iraq has a limited private sector, some of which are supported by government contracts, in addition to a thriving informal economy. However, both were severely hit by the Coruna virus and by a 24-hour curfew nationwide, and construction workers, street vendors, domestic servants and taxi drivers were forced to stay in their homes. Because most of them live day after day as they earn and have little or no savings, and they may soon be on the brink of hunger. ”
    A number of Iraqis said, "It is difficult to say for how long such a huge economic pain can be tolerated, but it is particularly difficult in the absence of political leadership and an epidemic." Ended / 25 z


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