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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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    Al-Sudani: No country imports the equivalent of $300 million daily like Iraq

    rocky
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    • Post n°1

    Al-Sudani: No country imports the equivalent of $300 million daily like Iraq Empty Al-Sudani: No country imports the equivalent of $300 million daily like Iraq

    Post by rocky Thu 09 Feb 2023, 5:58 am

    [size=30]Al-Sudani: No country imports the equivalent of $300 million daily like Iraq
    [ltr]2023.02.09 - 12:10[/ltr]
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    Baghdad - people  
    On Thursday, Prime Minister Mohamed Shia Al-Sudani commented on the issue of "dollar smuggling".  
      
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    Al-Sudani said in an interview with “Al-Sharq Al-Awsat” newspaper, which was followed by “Nass” (February 9, 2023), “After 2007, the Central Bank took a step that was correct, which is to address inflation and the abnormal situation of the Iraqi currency. Our relationship with the dollar began in the nineties, during the siege period.” At that time, we were watching the dollar, when it went up, food prices went up.”  
      
    He added, "The central bank's treatment required opening a window for selling the currency, the prevailing commercial mechanism, and it was supposed to have a review, based on the merchant's contact with an exchange company in order to import materials. The exchange company is linked to private banks that are linked to the central bank," noting that "the largest part This trade was not clear-cut, that is, it was not in accordance with the standards of compliance with the banking system, as it contains inaccurate estimates of the price or quantity of the material, and the aim is for the trader to obtain the largest possible amount of dollars in order to transfer them abroad, as the window for selling currency in one year reached 300 million dollars per day.  
      
    He explained, "The Central Bank sells it to banks and companies. Banks transfer (dollars) abroad under the headings of import. It is not reasonable that there is a country that imports 300 million per day unless it imports air and sells it to citizens. This mechanism was clear to everyone, from the Treasury and the Bank." No one dared confront this process, and we, deputies and analysts, were talking about it... until the Treasury Department came, as a matter of emphasizing the prevention of smuggling, money laundering, and other decisions of the United States towards some countries, to stress the dollar. I want to mention countries in the region, in the Gulf, from which dollars are forbidden from the United States. Do not give them a dollar.”  
      
    He added, "We are on the cusp of presenting the budget, and we have reached an agreement with the region on the form of oil management and the financing of financial allocations in the budget law. After approving the budget, we will go to the legislation of the oil and gas law, and this is one of the most important tasks since the writing of the constitution after 2003, because oil and gas do not wait for it." Only the region, but all the oil-producing provinces are waiting for it, wanting to know their powers and what they owe.”    
      
    Al-Sudani answered the question, "Is this a Kurdish demand?", saying: "An Iraqi demand. But because of the oil problems, the issue seemed as if oil only solves the region's problems with the center. We are heading to implement this scenario, the rest of the problems are controlled within the powers and procedures. Our conviction is that Our national responsibility includes all citizens in all geographical areas in Iraq, whether the citizen is inside the region in Erbil, Sulaymaniyah, Anbar, or Najaf.This is the legal and moral situation, we are keen to take care of all the people in a way that preserves the principle of justice and equality, and the social contract that unites us. is the constitution."    
      
    And the Prime Minister answered the question, "How much should be the volume of the amounts of imported Iranian gas to provide electricity in Iraq," saying: "It is assumed that billions. We only spend on gas that we import from Iran at an amount of $7 billion per year, and we buy electricity from investors, at an amount of $2.5 billion." One billion dollars, in addition to oil derivatives and salaries, is an exorbitant cost and a small levy.      
      
    He added, "In 2003, electricity production did not exceed 3,800 megawatts. Now, we have exceeded 21,000 megawatts. There is an expansion in growth and needs... The house used to have only a fan, now the whole house has air conditioners and various devices. We have many problems, as I mentioned; corruption." Poor management and planning.      
      
    He continued, "At the end of 2013, we finished with the issue of electricity, but we entered into (fighting) ISIS, so we went back. Sometimes administrative crises, and sometimes poor planning... Also, there is a remarkable issue in this sector, which is that electricity collection in all of Iraq does not exceed 10% or less.      
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