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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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The Iraqi debate continues over the dispute between Al-Sadr and the Minister of Finance

rocky
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Finance - The Iraqi debate continues over the dispute between Al-Sadr and the Minister of Finance Empty The Iraqi debate continues over the dispute between Al-Sadr and the Minister of Finance

Post by rocky Mon 21 Feb 2022, 5:33 am

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[size=52]The Iraqi debate continues over the dispute between Al-Sadr and the Minister of Finance[/size]

Recession hangs over the markets after the dollar exchange rate drops
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A popular market in Baghdad (AP)
Baghdad: Fadel Al-Nashmi
[size=45]The debates about the dispute that erupted earlier this week between Muqtada al-Sadr and the “Sadr bloc” in Parliament, on the one hand, and Finance Minister Ali Abdul-Amir Allawi, on the other, are still ongoing, as a result of intersecting positions regarding maintaining the current dinar exchange rate against the dollar. And the ability of Parliament to hold Minister Allawi accountable and to prevent his travel, given that he belongs to a caretaker government.[/size]
[size=45]All of these developments were reflected in the form of a recession wave that shrouded the market movement in the country. For the first time in more than a year, the Iraqi dinar exchange rate rose against the US dollar. This rise reinforced expectations about the possibility of the Central Bank moving to raise the exchange rate of the dinar to about 1,300 dinars against One dollar, after the bank had raised in 2020, the exchange rate of the dollar to 1460 dinars per dollar. Vendors in Al-Shorja market in Baghdad told Asharq Al-Awsat that “the market movement has almost stopped for about two weeks as a result of fluctuations in exchange rates, as most single sellers are reluctant to shop these days as a result of expectations of a decrease in dollar exchange rates.”[/size]
[size=45]And the Finance Minister had refused, during a letter he sent to Prime Minister Mustafa Al-Kazemi, last Friday, to attend Parliament based on a tweet launched by Muqtada Al-Sadr to discuss the dollar exchange rates and the banks controlling the currency auction in the Central Bank, and Allawi considered that the government is not managed by the “tweets” of the leaders of the blocs. and political parties.[/size]
[size=45]Despite Allawi’s acceptance to attend Parliament in a letter he addressed the day before yesterday, on the condition that he be given sufficient time to attend and allow him to explain his financial policy, his disagreement with the Sadrist movement still takes a wide space in popular and official discussions and positions, as the leader of the “national” coalition Iyad Allawi defended Yesterday, Sunday, strongly about his cousin, the Minister of Finance, and implicitly criticized the position of the Sadrists, who was in support of the decision to reduce the exchange rate of the dinar, when he said in a tweet via “Twitter”: “The change in the exchange rate of the dollar came after consultations with all the blocs that participated in the government, and therefore an attempt Disavowing the responsibility of this decision or throwing it at others will not deceive the people.”[/size]
[size=45]In response to the request of the Deputy Speaker of Parliament for the Sadrist bloc, Hakim Al-Zamili, to prevent the Minister of Finance from traveling, Iyad Allawi stated, “Travel ban orders are issued against those convicted or involved in suspicions of corruption and crime by the judicial authority and cannot be subject to whims and moods and will not frighten the efficient and impartial such as Ali Allawi, especially as he asked the Speaker of the House of Representatives to hold a session of the House of Representatives and vote on confidence in him as a minister and allow him to give a speech on the economy and the exchange rate.”[/size]
[size=45]The issue of the Minister of Finance’s accountability before Parliament has turned into an issue for public discussion and the subject of discussions between those interested and legal experts. Researcher Yahya al-Kubaisi believes that “it is not within the House of Representatives’ authority to question a minister in a day-to-day care government, because the mandate is simply expired and the new parliament has not voted on it; And therefore he has no mandate over it, and because the interrogation means the possibility of a vote of no confidence, and thus impeachment.”[/size]
[size=45]As for Judge Rahim Al-Ugaili, despite his acknowledgment that the constitution and the internal system of the House of Representatives “did not set any rules for questioning the minister in the outgoing government, like the current government,” but he believes that “the absence of constitutional or legal provisions regulating the accountability of the minister in the outgoing government does not mean his escape from accountability.” It is not acceptable for any executive to evade control and accountability, even if it is by virtue of the resignation, as long as he exercises executive powers and powers, even if they are limited. Al-Ugaili believes that "the accountability of the minister in the expired government is subject to what is decided and established by parliamentary norms."[/size]
[size=45]“Reducing the dollar exchange rate will cost the budget an additional $10 billion annually, and if the oil price drops to $60, it will be unable to pay salaries and will not be able to finance infrastructure projects.” He added, "Therefore, efforts must focus on finding ways to support the poor and reduce the prices of basic commodities that are related to the needs of people with limited income."[/size]
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    Current date/time is Fri 30 Sep 2022, 9:33 pm