رئيس مجلس الوزراء القائد العام للقوات المسلحة الدكتور حيدر العبادي يتفقد عددا من نقاط التفتيش في العاصمة بغداد
View translation
Prime Minister of armed forces Commander General Haydar Abadi visits a number of checkpoints in the capital Baghdad.
Observer news / Baghdad
The director of cleric Moqtada al-Sadr’s offices in Baghdad and the northern provinces Ibrahim al-Jabri, on Thursday, the existence of prior coordination with the security forces on the demonstration, which called on Sadr to launch on Friday in Tahrir Square in central Baghdad.
Jabri said, “The Iraqi government must have an attitude with the Iraqi people in the demonstration, which kicks off tomorrow morning,” pointing out that “Mr. Muqtada al-Sadr has a large and peaceful visions.”
“The coordination with the security forces already holds with our security forces,” noting that “the advent of al-Sadr in Baghdad sent a message comes to contentment, and to Wigley sorrow and sadness for the Iraqi people against the backdrop of bombings that preceded the Eid al-Fitr.”
Thousands of people flocked on Thursday to Baghdad from several Iraqi provinces to participate in the demonstration, set to begin on Friday in Tahrir Square, while security forces imposed strict measures in anticipation of any breaches.
He called on al-Sadr, last Monday, “patriots” to exit demonstration “majestic” in Tahrir Square on Friday “to remove the corruption and injustice,” and the dismissal of all corrupt, and stressed that the demonstration without names or images or slogans “I do not sing of patriotism,” as he emphasized that the survival of corruption and corrupt means survival shed “terrorism” on the Iraqis.
As called for the Council of Ministers, on the first Tuesday, the Iraqis to postpone the demonstrations for “spare the country falling into chaos and more challenges and distracting the security effort,” as he emphasized that the duty of the security forces, law enforcement and the protection of the interests of citizens and the state institutions.
Publishing Date: Thu, 14 Jul 2016 18:48:58 | Views: 24
The influx of thousands of people, on Thursday, on Baghdad from several Iraqi provinces to participate in the demonstration, which is planned for launch on Friday in Tahrir Square, the center of the capital at the invitation of the cleric Moqtada al-Sadr, while security forces imposed strict measures in anticipation of any breaches.
The correspondent of the news agency said today in Baghdad, the capital has seen, this evening, the influx of thousands of people from the provinces of Najaf, Karbala, Wasit, Diwaniyah and other provinces to participate in the demonstration called by the cleric Moqtada al-Sadr is scheduled to be launched on Friday in Tahrir Square.
He added that the security forces imposed strict measures on Liberation Square and the entrances and exits of Baghdad in anticipation of any breaches may target the demonstrators.
It was al-Sadr called on Monday last, “patriots” to exit demonstration “majestic” in Tahrir Square on Friday “to remove the corruption and injustice,” and the dismissal of all corrupt, and stressed that the demonstration without names or images or slogans “I do not sing of patriotism,” while He confirmed that the survival of corruption and corrupt means survival shed “terrorism” on the Iraqis.
Long – Presse / Baghdad , a source in the Interior Ministry, said Thursday that security forces sealed off the bridge of the Republic and some of the roads leading to Tahrir Square in central Baghdad. The source said in an interview with (long – Presse), ” The security forces sealed off the bridge of the Republic and some of the roads leading to the Tahrir Square in central Baghdad, in anticipation of theexit demonstrators on Friday. ” The cell media war, promised on Thursday, demonstrations on Friday in an ” illegal “, as citizens called for the opt – out, confirmed the deal ‘s security forces with any armed appearances as” terrorist threat. ” the cleric Moqtada al – Sadr, said, Wednesday (July 13, 2016), to move the demonstrations in Tahrir Square in central Baghdad, despite the pleas of the Iraqi Council of Ministers to be postponed, and this was rejected by the attack on the security forces , the promise of a breach of thesecurity of Baghdad , ” cursed “, he considered his visit to Baghdad , ” reassuring message to thepopulation. ”
History of edits:: 14/7/2016 20:15 •
{Baghdad} Euphrates News media reported military cell on Thursday that the planned demonstrations on Friday unlicensed.
According to a statement of the cell received by the agency {Euphrates News} a copy of it today , ” We take the sons of our dear people that the demonstrations to be set tomorrow unlicensed.”
He continued , ” We call on honorable citizens not to subscribe to it and will treat the security forces with any armed manifestations of a threat of terrorism in accordance with the law” .anthy
http://alforatnews.com/modules/news/article.php?storyid=122184
Direct: International Monetary Fund said that Iraq will go to disrupt the new appointments in most sectors, in addition to imposing new fees on electricity, as part of Iraq ‘s undertakings gradual repayment of receivables overdue for international oil companies.
She said a recent memorandum of the International Monetary Fund said Thursday that Iraq managed to get the cash to facilitate worth $ 5.34 billion, after a number of economic reforms.
The IMF said that the economic reform program of the government included an amendment to several social spending budget items for keeping the lower-income classes as well as the direction of pension reform.
The Fund noted in his report that Iraq faces a double shock, the poor security situation and the sharp drop in world oil prices, the national security is reflected on the non-oil economy, led the decline in oil prices led to a major decline in budget revenues.
The IMF report said Iraq will go to other sources of funding to fill this year’s deficit, which may include loans worth more than two billion dollars from the World Bank, may rely on bonds worth billion US dollars to ensure the full and the issuance of international bonds, a similar amount in the last quarter of 2016.
Commented Moody ‘s credit rating in a report today about monetary easing to Iraq that the conditional loan for Iraq with the IMF agreement would limit the financial difficulties faced by the State, it supports the Iraqi balance of payments, expected contribution to improve liquidity.
July 14, 2016
The IMF has approved a three-year, $5.4 Billion loan for Iraq focused on implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability.
The loan will be provided under the Stand-By Arrangement facility and also includes measures to protect vulnerable populations—critical in a time of ongoing conflict, which has resulted in over 4 million internally displaced people.
The program builds upon the success of the recent Staff-Monitored Program, which the authorities started in November 2015 to address the double shock of ISIS attacks and the sharp drop in global oil prices, and will help close a financing gap of about $18 Billion.
Speaking to IMF News, Christian Josz, IMF mission chief for Iraq, explains the underlying reasons for the loan and the main goals of the IMF-supported program.
IMF News: Why is Iraq requesting financial assistance from the IMF now?
Josz: Iraq has been hit with a double shock for an extended time period. First, the ISIS insurgency since mid-2014 has created a humanitarian and social crisis that unfolded into millions of internally displaced persons, with destruction to assets and infrastructure leading to disruptions in production and in trade routes. The non-oil economy sharply contracted as a result. Second, the steep fall in global oil prices—on which Iraq depends almost entirely for its government revenue—has made the situation worse, culminating in both internal and external imbalances, large and rising budget deficits and increasing public debt, as well as losses in official foreign exchange reserves and some pressure on the Iraqi Dinar.
As a result, the Iraqi authorities approached the IMF with a request for emergency assistance, and we worked with the authorities to provide emergency financing of US$1.2 billion in July 2015 under the Rapid Financing Instrument. However, the intensification of the two shocks thereafter led the authorities to request a longer-term engagement with us that would not only address the fallout from the crisis, but also lay the ground for long-delayed, deep-seated reforms. In this vein, a staff-monitored program (a program with no attached lending) started in November 2015—at the Authorities’ request—to instill the necessary conditions, and build the required capacity and track record to move to the current Stand-By Arrangement.
IMF News: What are the key policy components of Iraq’s program and how will it help the country?
Josz: The program is designed with a focus on four key elements: reduce budget spending and restore public finances to a healthy state and stabilize debt; protect spending on the social front to ease the lives of the poorest, internally displaced people and refugees; improve the quality of public spending and prevent accumulation of unpaid debt through improvements in public financial management; and begin the process of restructuring state-owned banks to reduce their dominance in the banking system, thereby mitigating financial sector risks and preserving the sector’s stability.
IMF News: How has Iraq’s economy been affected by ongoing conflicts and will this hinder the program’s implementation?
Josz: On the one hand, the non-oil economy contracted by 19 percent in 2015 and is expected to continue to contract in 2016. On the other hand, the oil sector, thus far spared by the ravages of war, grew by 13 percent in 2015 and by more than 20 percent during the first five months of 2016, helping to support the broader economy, critical budget outlays, and official foreign exchange reserves amid the double shock.
While there are risks to program implementation—such as the fight against ISIS, subdued global oil prices, and uncertainty around the budget sharing agreement between the federal government and the Kurdistan Regional Government—the policy responses outlined above will help stabilize Iraq’s economy.
IMF News: Can you explain the significance of maintaining the Iraqi Dinar’s peg to the U.S. dollar?
Josz: Iraq has maintained a peg to the U.S. dollar for years, and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS. Under current circumstances and given the nature of the shocks, moving towards more exchange rate flexibility would not be warranted for two key reasons.
First, Iraq is predominantly an oil exporter, and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness. Second, there is a notable degree of import dependence—almost half of Iraq’s consumption needs are imported—and devaluation would immediately trigger a spike in inflation for most food and other consumer goods, which would exacerbate already difficult social tensions. The authorities are committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar under these circumstances, and we support this view.
IMF News: How will the program help protect the poor and internally displaced populations?
Josz: The program has set a floor on a number of budget items that are considered crucial for social spending, with the objective of protecting the most vulnerable. This covers spending directed towards the social safety net, the public distribution system (subsidies on food items, wheat, rice), agricultural product subsidies, transfers and assistance for internally displaced populations and refugees, and spending for salaries and goods and services by the ministries of health and education.
IMF News: What measures could the Iraqi government take now to lay the basis for private sector‑led growth in the future?
Josz: By preserving macroeconomic stability, including debt sustainability, the Iraqi authorities are laying the ground for private sector development. By maintaining fiscal discipline, they will create the fiscal space to pay their suppliers and international oil companies on time, which is essential to maintain financial sector stability and oil production. Furthermore, the authorities can also spur private sector-led growth by restructuring state-owned enterprises—including the six state-owned banks—and prioritizing investment projects, such as in the electricity sector, which will help improve infrastructure development.
Articles of interest for the rebuilding of Iraq and its currency
Rasimal Somali News
To Put Mosul on the Global Map
"We're all just walking each other home" ~ Ram Dass
Yang Pernah Mbuat Aku Bingung
@IraqiThoughts
Iraq, politics, development
The latest news on WordPress.com and the WordPress community.
Haider Al-Abadi
Search 4 Dinar 