Iraq is on the verge of financial collapse .. A report monitors the $ 12 billion Al-Kazemi needs to

by **Rocky** Tue 25 Aug 2020, 6:36 am

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Iraq is on the verge of financial collapse .. A report monitors the $ 12 billion Al-Kazemi needs to

by Rocky Tue 25 Aug 2020, 6:36 am

Tuesday, 25 August 2020 02:50 AM

Iraq is on the verge of financial collapse .. A report monitors the $ 12 billion Al-Kazemi needs to secure salaries quickly

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Economists: The economic challenges that [You must be registered and logged in to see this link.] faces are no less than the security and political challenges,

between a major insecurity, widespread assassinations in Basra and Baghdad and a security breakdown. [You must be registered and logged in to see this link.] facesanother meltdown, this time by economic collapses.
According to a report released by hours, Al-Kazemi faces a major dilemma.
The report, published in Oil Price, said, "It has a[You must be registered and logged in to see this link.] the last week in Washington trying to maintain an exceptionally dangerous balance between Iran and the United States. On the one hand, [You must be registered and logged in to see this link.] has a multi-layered relationship with the Middle East power, Iran, which Tehran has imposed through its continued presence on the ground, For political, economic and military agents. On the other hand, [You must be registered and logged in to see this link.] enjoys[You must be registered and logged in to see this link.]With a shorter, but nonetheless, eventful history with the world's number one superpower, the United States, which requires an increase in its presence on the ground in the country, especially with regard to the oil and gas sectors. In exchange for not punishing [You must be registered and logged in to see this link.] and providing it with financial support.
Kazemi's immediate concern is to secure sufficient funding from the United States to avoid another round of mass protests, violence, bloodshed and death. The recent, short but disastrous oil price war, sparked by the Saudis, has pushed [You must be registered and logged in to see this link.] funding hard into the red, with its oil-related revenues dropping nearly 50% and its finances adversely affected by the ongoing effects of the COVID-19 pandemic. The report confirms, all these factors forced [You must be registered and logged in to see this link.]On the proposal to delay foreign debt payments, introduce 60% salary cuts for various government sector employees, and reduce unnecessary spending.
It also pushed [You must be registered and logged in to see this link.] to produce much more oil than its OPEC + quota, which means it will have to compensate for this overshoot with less production. This, in turn, would reduce the revenue of an already collapsing state. This liquidity crunch could not have come at a worse time.
And in the next few weeks, [You must be registered and logged in to see this link.] needs[You must be registered and logged in to see this link.]To provide at least 12 trillion Iraqi dinars (10 billion US dollars) just to pay the next two months' salaries in excess of four million. Employees, retirees, beneficiaries of the state and food aid for low-income families. Together, these groups make up the majority of families in Iraq, and it is believed in higher Iraqi government circles that any failure to fulfill any of these obligations may lead to the kind of widespread protests and bloodshed that occurred at the end of last year.
Before the arrival of [You must be registered and logged in to see this link.]To Washington, five American companies - Chevron, General Electric, Honeywell International, Baker Hughes and Stellar Energy - signed agreements with the Iraqi government for deals aimed at strengthening energy independence in Iraq. From Iran, worth at least $ 8 billion. Among the most prominent of these factors, according to the relevant data, Chevron will examine the potential of exploration work in the long-marginalized Nassiriya oil field, which is estimated to contain around 4.4 billion barrels of crude oil. Meanwhile, GE said it has signed two new agreements with the Iraqi Ministry of Electricity valued at more than $ 1.2 billion to implement maintenance programs across the country's main power plants and to strengthen its transmission network. Honeywell also said it is negotiating with Iraq in a deal that includes developing the Ratawi oil field, building a gas processing center, and generating new electricity.
The report notes that the economic challenges that [You must be registered and logged in to see this link.] faces may be equal to the security and political challenges that [You must be registered and logged in to see this link.] faces . Therefore, he must act before it is too late and take control of his rule and the lords of the country.
Which

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