[size=30]KTFA Members "News and Views" Thursday Afternoon 5-19-2022[/size]
KTFA:Popeye7: Imo, a green light possibly?... They obviously concluded this for a reason, and could this be the go ahead for the CBI to change the rate?..
Clare: IMF Staff Concludes Staff Visit to Iraq
May 19, 2022
Washington, DC: An International Monetary Fund (IMF) mission, led by Tokhir Mirzoev, visited to Amman, Jordan, during May 14-18, 2022, to discuss with the Iraqi authorities recent economic developments, the impact of global events on the economic outlook, and the country’s policy priorities. At the conclusion of the visit, Mr. Mirzoev issued the following statement:
“The economic recovery is well underway.
Cushioning the impact of surging food prices on the most vulnerable is the most urgent priority.
Using the current favorable oil market conditions to accelerate structural reforms and advance socio-economic priorities will be key to strengthen Iraq’s medium-term economic resilience.
Washington, DC: An International Monetary Fund (IMF) mission, led by Tokhir Mirzoev, visited to Amman, Jordan, during May 14-18, 2022, to discuss with the Iraqi authorities recent economic developments, the impact of global events on the economic outlook, and the country’s policy priorities. At the conclusion of the visit, Mr. Mirzoev issued the following statement:
“The economic recovery is well underway. In 2021, buoyed by the resumption of activity, a more accommodative fiscal stance, and stimulus measures by the central bank, real non-oil GDP rebounded by an estimated 20 percent and is poised to expand by around 5 percent this year. Oil output is projected to reach its pre-pandemic level and bring overall real GDP growth to 10 percent in 2022. The war in Ukraine is affecting Iraq mainly through its global impact on commodity prices.
In 2022, soaring oil revenues will more than offset the increased food and energy import bills. As a result, the fiscal and current account balances are projected to post double-digit surpluses in percent of GDP. Nonetheless, headline inflation is expected to climb to 6.9 percent, up from 6 percent last year, driven in part by higher food prices, which are adversely affecting the poorest segments of the population.
“Cushioning the impact of surging food prices on the most vulnerable is thus the most urgent priority. With fiscal policy paralyzed by the absence of the 2022 budget—which limits current fiscal expenditures to last year’s level—strengthening spending efficiency, maintaining tight control over public hiring, and reprioritizing expenditures within the overall budget cap will be essential to enable boosting targeted cash transfers to the most vulnerable and containing the poverty impact of the rising cost of living.
“In an environment of high oil prices and against the background of elevated global risks and uncertainty, the focus of macroeconomic policies needs to shift toward consolidating economic stability and strengthening Iraq’s long-term economic resilience. In the short run, maintaining fiscal discipline and tapering the central bank’s lending support to the real estate sector will help avoid adding to inflationary pressures. In addition, despite large reconstruction and other investment needs, limited near-term absorptive capacity, fiscal vulnerability to oil price volatility, and the challenges of the global energy transition call for building buffers for the future by saving a portion of oil revenues via a carefully designed sovereign wealth fund.
“The current favorable oil market conditions also provide an opportunity to accelerate structural reforms envisaged in the authorities’ “White Paper.” Strengthening the quality of public services and creating the fiscal space for much-needed investments and the social safety net require a civil service reform, reducing inefficient energy subsidies, diversifying fiscal revenues, and strengthening governance.
Fixing the electricity sector will be crucial to reduce fiscal costs and enable private sector productivity. Improving the coverage and targeting of social assistance will help better protect the most vulnerable. Enhancing governance in large state-owned banks and completing their audits and restructuring will facilitate access to finance and job creation by the private sector.
“The mission welcomes the authorities’ increased attention to the challenges of climate change and the release of Iraq’s first Nationally Determined Contribution document last year. In the coming months, the mission encourages prioritizing the preparation of national climate adaptation and mitigation plans, development of green financing, and full integration of climate-related priorities into the macroeconomic policy framework. The IMF stands ready to support Iraq in these endeavors.
“The IMF staff team would like to thank the authorities for candid and productive discussions and looks forward to continuing close cooperation with Iraq in the period ahead.”
IMF Communications Department LINK
****************
Clare: Iraq achieves a financial surplus of more than 11.4 trillion dinars in the first quarter of 2022
05/19/2022
The Ministry of Finance revealed that the percentage of non-oil revenues did not exceed 4% of the total revenues during the first quarter of 2022.
A report on the ministry, seen by "Al-Iqtisad News", stated that "the total oil revenues amounted to 33.3 trillion dinars, while the total non-oil revenues amounted to 1.5 trillion."
The total oil and non-oil revenues amounted to "34.9 trillion dinars until March of 2022."
The report indicated that "the percentage of oil revenues out of the total revenues amounted to 96%, compared to 4% the percentage of non-oil revenues."
According to these data, Iraq achieved a financial surplus of 11.41 trillion dinars during the first 3 months of 2022.
Economists expect Iraq's oil revenues to exceed 100 billion dinars by the end of this year, thanks to the rise in global oil prices. LINK
*****************
Clare: Opening it may bring down big heads.. Parliamentary Integrity: “Corruption files” are closed with a “political veto”
2022-05-19
On Thursday, the Parliamentary Integrity Committee revealed efforts and close steps to uncover major corruption files that topple large political and partisan heads, and uncover cover-up and procrastination of cases that have devoured the country's resources and public money.
The head of the committee, Nahida Al-Dayni, told Shafak News Agency; "Major corruption files closed with a political and party veto that have not been opened so far over several parliamentary sessions due to their resounding results that topple large fortified parliamentary political and party heads and deals that cannot be aborted."
Aldaene noted; He pointed out that "the current Integrity Committee includes new faces and personalities who are determined to work professionally in parliament, away from party and factional affiliations, and that a number of large files will be opened and presented to the supervisory and integrity authorities to take the necessary measures."
Al-Daini indicated that "the politically-wrapped corruption files looted about a third of the country's revenues and the budgets of projects and services in all sectors, amid the inability of government and regulatory agencies to address them."
She called a member of Parliamentary Integrity; The government authorities concerned with integrity and oversight, to cooperate with the Parliamentary Integrity Committee, to take deterrent legal measures regarding corruption cases and to restore the citizen’s confidence in the supervisory and legislative authority. LINK
GMan: A Check mark on my list. I've noticed this "Corruption Files" theme is happening in other places as well. In agreement "Exciting Times" for sure.
Zeeman: This is a very telling article and if they finally get the big ones this will help the country and citizens. imo could this be a reason that Malaki and company are fighting so hard because they will lose their immunity?
Clare: Source: The dismissal of the Governor of Salah El-Din came from the Prime Minister due to mismanagement and corruption
2022-05-19
A parliamentary source revealed, on Thursday, that the dismissal of Salah al-Din Governor Ammar Jabour al-Jubouri from his position came from the Presidency of the Council of Ministers to the House of Representatives.
The source told Shafaq News Agency, "The reason for dismissing al-Jubouri came after the recommendation of the investigative committees in the Council of Ministers, which diagnosed the governorate's mismanagement and waste of public money, and accordingly the committees recommended in their report that the governor be relieved of his position."
And earlier today, the Iraqi parliament voted, in today's session, to dismiss the governor of Salah al-Din Ammar Jabour al-Jubouri by an absolute majority.
Later, a source close to the dismissed governor of Salah al-Din, Ammar al-Jubouri, told Shafaq News Agency, "Al-Jubouri is still exercising his administrative duties as governor of Salah al-Din, and he will hand over his duties to his representative after the arrival of the administrative order that includes the approval of the Council of Ministers for his dismissal."
He explained that "the parliament's vote to dismiss him (Ammar Jabor Al-Jubouri) does not mean that it will be implemented at the time of approving the dismissal, but rather that the matter is valid if it is approved by Prime Minister Mustafa Al-Kazemi," adding that "(Al-Kazemi) will take over the administration of the province by proxy. until the appointment of a new governor. LINK
**************
Clare: The Anti-Money Laundering and Terrorist Financing Office signs a bilateral cooperation agreement with the Integrity Commission in the Kurdistan Region
May 19, 2022
The Anti-Money Laundering and Terrorist Financing Office signs a bilateral cooperation agreement with the Integrity Commission in the Kurdistan Region
Under the patronage of the Chairman of the Anti-Money Laundering and Terrorist Financing Council, Governor of the Central Bank of Iraq, and based on the office’s tasks in combating money laundering and terrorist financing crimes, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, the office signed on 05/19/2022
A cooperation agreement with the Integrity Commission in the Kurdistan Region to work on facilitating the exchange of information with the office regarding suspicious financial operations, limiting money laundering and terrorist financing operations, advancing an Iraqi reality protected from money laundering crimes, prosecuting wanted persons by Iraqi authorities, and recovering smuggled corruption funds in line with the Iraqi constitution and Iraq’s obligations Towards international organizations related to combating money laundering and terrorist financing, which require concerted local efforts to confront these crimes and combat their emerging methods.
Central Bank of Iraq
Media Office
May 19, 2022
https://cbi.iq/news/view/2004
Today at 9:56 am by Rocky
» utube 9/16/24 MM&C Iraq Dinar Update - #xrpripple #iraqidinar - Electronic International Payments
Today at 7:22 am by Rocky
» utube 9/17/24 Iraq Dinar Update --Sudani Sadr-Development-Pro
Today at 7:22 am by Rocky
» Al-Sudani directs the preparation of a draft resolution obligating ministries to provide facilities
Today at 7:20 am by Rocky
» Germany: Iraq is making progress towards economic stability
Today at 7:19 am by Rocky
» Al-Sudani: There is no alternative but to have capable Iraqi banks that adopt all financial standard
Today at 7:16 am by Rocky
» Iraq enters into space war confrontations.. Cyber attacks raid Tel Aviv and news indicates that th
Today at 7:12 am by Rocky
» Contrary to expectations.. Al-Sudani's advisor: Non-oil revenues grew at record levels in 2024
Today at 7:09 am by Rocky
» Central Bank of Iraq sells more than $250 million in auction today
Today at 7:06 am by Rocky
» The Supreme Committee for Tax Reform reveals details of the draft of the new income tax law
Today at 7:02 am by Rocky
» A Kurdish delegation will visit Baghdad early next week
Today at 6:59 am by Rocky
» The Commission sets a date for approving the candidates for the Kurdistan elections
Today at 6:58 am by Rocky
» Prime Minister receives Chairman of the Private Banks Association and a number of bank managers
Today at 6:56 am by Rocky
» Parliamentary Investment Committee proposes solutions to cover Iraq's expenses.. What about border c
Today at 6:52 am by Rocky
» Iraq signs $290 million loan agreement with Austrian bank
Today at 6:50 am by Rocky
» The Council of Ministers is studying a decision obligating ministries to provide facilities to suppo
Today at 6:47 am by Rocky
» Iraq of Four Million Employees: Will the Oasis of Jobs Last in the Desert of Opportunities?
Today at 6:45 am by Rocky
» A parliamentarian talks about an Iraqi port in the Red Sea.. These are the details
Today at 6:43 am by Rocky
» The housing crisis is deepening and housing unit prices are astronomical
Today at 6:42 am by Rocky
» Najaf discusses with a specialized German company the establishment of a waste recycling plant
Today at 6:40 am by Rocky
» Second reading increases the yield of calls rejecting the release of terrorists by general amnesty
Today at 6:39 am by Rocky
» Prime Minister: The Central Bank has contracted with Oliver Wyman to develop the banking and financi
Today at 6:37 am by Rocky
» Parliamentary Water Committee identifies the reasons for the continued drought and low water levels
Today at 5:21 am by Rocky
» Al-Fatlawi: There are some parties trying to overthrow Al-Sudani's government
Today at 5:20 am by Rocky
» Parliamentary Investment Committee calls on the government to intervene regarding the insane increas
Today at 5:18 am by Rocky
» Iraq tightens preventive measures on imported goods, especially electronic devices
Today at 5:17 am by Rocky
» Meetings attended by Al-Ameri.. Kurdish blocs unite to cancel Baath decisions regarding agricultural
Today at 5:15 am by Rocky
» Oxford Economics expects Gulf economies to grow by 4.4% in 2025
Today at 5:13 am by Rocky
» With Apple’s participation, the media and communications sector sets a roadmap to build a long-term
Today at 5:12 am by Rocky
» Cabinet Secretariat: Stopping the sale of government properties to its employees is inaccurate
Today at 5:10 am by Rocky
» The Ministerial Council directs the inspection of electronic devices before importing them to avoid
Today at 5:08 am by Rocky
» The Prime Minister directs the preparation of guidelines to ensure fair competition in the banking s
Today at 5:05 am by Rocky
» The Minister of Electricity directs the announcement and referral of the installation of solar energ
Today at 5:04 am by Rocky
» Gulf central banks move interest rates after Fed decision
Today at 5:02 am by Rocky
» Labor: Including allocations for increasing the salary of the full-time appointee in its budget for
Today at 5:01 am by Rocky
» Non-oil revenues top agenda of parliamentary finance visit to Erbil next week
Today at 5:00 am by Rocky
» Housing shortage threatens the stability of millions of Iraqis!
Today at 4:59 am by Rocky
» The Department of Political Dismissals Affairs issues (3519) new decisions for politically dismissed
Today at 4:57 am by Rocky
» Minister of Industry confirms the ministry's commitment to supporting and encouraging the private in
Today at 4:55 am by Rocky
» Finance: Issuing controls to facilitate the implementation of the Owners Law
Today at 4:54 am by Rocky
» Iranian oil official: Iraq owes Tehran no debts, and tripartite negotiations between Iran, Russia, a
Today at 4:52 am by Rocky
» Proposal for employing graduates
Today at 4:50 am by Rocky
» Al-Hasnawi to “Sabah”: Opening of 379 health projects
Today at 4:49 am by Rocky
» The Ministerial Council directs to audit imports of electronic devices
Today at 4:48 am by Rocky
» Launch of the National Climate Change Camp
Today at 4:46 am by Rocky
» Facilitating the implementation of projects on the lands of military institutions
Today at 4:44 am by Rocky
» Urgent measures to address the airlines file
Today at 4:43 am by Rocky
» Warnings against relying on the “rentier economy”: Use effective systems and digital infrastructure
Today at 4:41 am by Rocky
» "Courtesy" manipulates salaries of Kurdistan employees and Baghdad demands a binding political decis
Today at 4:40 am by Rocky
» Opening of the 17th session of the “DBX” exhibition in Sulaymaniyah with the participation of more t
Today at 4:38 am by Rocky
» Iraqi banks dealing with America attract deposits
Today at 4:36 am by Rocky
» Iranians Stole Trump Campaign Material, Offered It to Democrats
Today at 4:35 am by Rocky
» TikTok launches campaign to raise awareness of digital safety tools in Iraq
Today at 4:33 am by Rocky
» Al-Sadr cancels the expected million-man demonstrations in Baghdad: “They are no longer useful”
Today at 4:32 am by Rocky
» "Fares Issa" receives the Ambassador of the Republic of Poland in Baghdad
Today at 4:31 am by Rocky
» Kurdistan Regional Government Representation Holds Training Workshop in Erbil
Today at 4:30 am by Rocky
» The Prime Minister's Office receives the draft income tax law prepared by the German GIZ organizatio
Today at 4:26 am by Rocky
» Finance reassures citizens: We are committed to paying salaries on time
Today at 4:25 am by Rocky
» Oil disappoints hopes, Basra crude completes two weeks of decline: interest rate cuts backfired
Today at 4:22 am by Rocky
» White oil rose 270% and kerosene 47%.. What is the secret behind the increase in fuel consumption in
Today at 4:21 am by Rocky
» Ministry of Finance talks about the fate of employees' salaries and the reasons for the delay
Today at 4:20 am by Rocky
» Baghdad government fails to implement the "generator meters" project and returns to "ampere pricing"
Today at 4:18 am by Rocky
» Money from citizens and treating pipes with "plastic slippers" .. A service project in Diwaniyah tha
Today at 4:17 am by Rocky
» Dollar exchange rates drop in Iraq.. This is the list
Today at 4:16 am by Rocky
» Referral of the rehabilitation project of Imam Al-Sadiq II neighborhood to the judiciary
Today at 4:13 am by Rocky
» Market monopoly is in danger... and the Parliamentary Economic Committee leads the correction battle
Yesterday at 7:16 am by Rocky
» Document warns of environmental danger threatening southern Iraq
Yesterday at 7:15 am by Rocky
» Central Bank Governor: We have put in place methods to secure the provision of dollars and are subje
Yesterday at 7:13 am by Rocky
» MP hints at corruption suspicions in $22 billion railway contract
Yesterday at 7:12 am by Rocky
» MP holds Al-Sudani responsible for withdrawing important laws from the House of Representatives
Yesterday at 7:11 am by Rocky
» Parliamentary Oil Committee accuses the region of smuggling oil
Yesterday at 7:10 am by Rocky
» The Council of Ministers decides to amend the price of industrial oil
Yesterday at 7:06 am by Rocky
» "Al-Eqtisad News" publishes the full decisions of the Cabinet session
Yesterday at 7:05 am by Rocky
» Parliamentary moves to increase state financial revenues
Yesterday at 7:04 am by Rocky
» New mechanism for collecting tax amounts electronically
Yesterday at 7:02 am by Rocky
» Iraqi oil exports rose yesterday to 3.5 million barrels
Yesterday at 7:01 am by Rocky
» South Gas: Integrated Gas Development Project is an Opportunity to Invest Local Hands
Yesterday at 7:00 am by Rocky
» Artawi Project.. A new energy that ignites the Iraqi economy and extinguishes the fires of waste!
Yesterday at 6:59 am by Rocky
» Al-Ghais: Taxes constitute the largest percentage of fuel prices in these countries
Yesterday at 6:57 am by Rocky
» Is the decline in oil prices related to the rise in exchange rates? An "important" clarification fro
Yesterday at 6:55 am by Rocky
» Iraq imports more than 722 million tons of gasoline in three months
Yesterday at 6:54 am by Rocky
» Hermes: Gulf investors have become more selective after the flood of IPOs in the region
Yesterday at 6:53 am by Rocky
» Real estate manipulators between the jaws of the "justice pincers"
Yesterday at 6:51 am by Rocky
» New crime
Yesterday at 6:50 am by Rocky
» Conference to support the private sector
Yesterday at 6:49 am by Rocky
» After the {Sabah} report... a campaign to deport {illegal} workers
Yesterday at 6:48 am by Rocky
» Al-Sudani: Amending the Drug Law raises the level of combating it
Yesterday at 6:47 am by Rocky
» Numbering Nineveh buildings in preparation for the population census
Yesterday at 6:46 am by Rocky
» Labor: Intensive campaign to deport “illegal” workers
Yesterday at 6:44 am by Rocky
» Emaar: The residential complex for journalists will be transferred to an investor
Yesterday at 6:43 am by Rocky
» Government organizes national conference to support private sector
Yesterday at 6:40 am by Rocky
» Real estate inflation
Yesterday at 6:39 am by Rocky
» {Hypermarket}.. Central markets with a new look
Yesterday at 6:38 am by Rocky
» Iraq calls on the international community to shoulder its responsibilities and stop the massacres an
Yesterday at 5:22 am by Rocky
» Al-Maliki's coalition explains the nature of the presence of Hamas and Houthi offices in Baghdad.. A
Yesterday at 5:21 am by Rocky
» What are the goals of Qaani's "secret" visit to Baghdad? - Urgent
Yesterday at 5:19 am by Rocky
» Al-Sudani: The heaviness of the energy system problem in transmission and distribution
Yesterday at 5:18 am by Rocky
» Parliamentary message to Al-Sudani: You have the dangerous Kar file in your hands.. Save public mone
Yesterday at 5:16 am by Rocky
» 15% tax on social media applications in Iraq
Yesterday at 5:15 am by Rocky