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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 departure of the “leader” of the white paper .. 3 possible reasons for the resignation of Financ

rocky
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The departure of the “leader” of the white paper .. 3 possible reasons for the resignation of Financ Empty The departure of the “leader” of the white paper .. 3 possible reasons for the resignation of Financ

Post by rocky Tue 16 Aug 2022, 5:40 pm


[size=30]The departure of the “leader” of the white paper .. 3 possible reasons for the resignation of Finance Minister Ali Allawi


2022-08-16
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Yes Iraq: Baghdad

The eyes of the popular and media circles in Iraq are looking forward to revealing the details of the “prolonged” resignation that Finance Minister Ali Allawi wrote and read during the cabinet session, as it is hoped that the resignation will include a long review of the most prominent points that Allawi records his reservations about regarding the country’s financial management and related to the bank’s policy. Central, banks and other details.
Allawi submitted his resignation today, Tuesday, during the current cabinet session, and according to sources, the resignation was written in a lengthy letter consisting of 9 pages, and Allawi insisted that it be read in full during the Council.
While Al-Kazemi, the prime minister of the business administration, tried to dissuade Allawi from the decision to resign, but the latter was insistent, which prompted Al-Kazemi to assign the director of budget in the ministry to run the ministry as an agency, before other sources talked about assigning Oil Minister Ihsan Abdul-Jabbar to run the ministry.
According to the sources, Allawi's prolonged resignation included talk about the failure of the financial sector and the inability to work according to the current context.
Allawi had previously rejected the central bank’s performance and described the bank’s billion initiatives as “thefts that destroy the country,” while he considered the state’s economic performance as “judgments and courtesies.”
Allawi's resignation included a report on the structure of the Ministry of Finance and references to the failure of the Central Bank.
One of the reasons circulating on Allawi’s resignation is the failure to implement the terms of the white paper as it is, especially since the Central Bank’s sales of hard currency, which was one of the reasons and motives for the white paper and raising the dollar exchange rate, recently rose to more than 250 million dollars per day after it was at 170 Million dollars.
 
Another reason is also the appeal submitted to the Food Security Law, where information indicates that the disbursement of funds began before the exchange instructions were circulated by the Ministry of Finance, in addition to the fact that it is possible that the law will be suspended after the challenge submitted to the law before the Federal Court However, it is a low probability.
It seems that the most prominent reason for Allawi’s resignation is his total dissatisfaction with the way financial matters are managed, as the pressures and government commitments pre-built on a “mistake” make the Minister of Finance and his plan to reform the economy restrictive and unenforceable.
Perhaps the Rafidain Bank “scandal” and the Ishtar Gate company case came as a main and complementary motive for Allawi’s dissatisfaction with the country’s financial management in general, which is what prompted him to insist on his resignation.
Economists and circles interested in the economy often point out that “Finance Minister Ali Allawi’s plans and vision, although correct, are far from the Iraqi reality and cannot be applied in this country and its intertwined problems,” which indicates that the reasons for Allawi’s resignation are “accumulated” and not a reason. single and candid.
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