A letter open to the Prime Minister of Iraq, his people and his economy first

 

Articles

Samir Nusairi

Samir Nusairi  Peace, mercy and blessings of God Two days ago, in the media and social media, there is a change in the leadership positions of the private agencies. On the basis of what is specified in Article 8 e in the Budget Law 2019 that the 2019/6/30 date for the termination of proxy positions for all the leading positions in the Iraqi government.  I believe that the application of this article transparently and without prior political intentions means that the competent authorities in the government and in the House of Representatives reassess those who hold these positions by adopting important and fundamental criteria that begin first and foremost from a analytical and analytical view of the results of the work of the official in the post. And what he and his team was able to achieve from the national achievements and have a direct impact on achieving the central objectives of the previous and current government within the hubs of its government programs approved by the House of Representatives. In order to be clear and specific and direct and in the best interest of Iraq and its national economy. He called on Dr. Adel Abdul Mahdi, the Prime Minister of the distinguished. He is an economist who knows all the areas of success and failure in the Iraqi economy and who are the symbols of success who have achieved economic steadfastness and to take steady steps to achieve economic stability during the years Previous.  What concerns us here is the role played by the Central Bank of Iraq and its achievements and bright points during the lean years (2015-2019), in which Iraq suffered from economic and security shocks and was able to policies, procedures and wise applications of monetary policy to support the national economy and contribute directly to the economic steadfastness And decisive victory over terrorism because military victory can not be achieved without steadfastness and economic support. Therefore, through the review, analysis and evaluation neutrality and transparency of the Iraqi economic situation and in particular is achieved by the ministries and economic institutions in Iraq from a competent point of view has been reached facts and evidence and signals and achievements confirm that the Central Bank of Iraq proved to be the economic institution through its important achievements in supporting the economy National economic resilience and strive to accomplish economic stability, according to the main objectives of the strategy and sub-working side -by- side and fruitful cooperation with the special representative of the Iraqi Association of banks of the banking sector and this is what really achieved    as it contributed to the The victory over terrorism and accompanied by another victory is the steadfastness and economic victory, which was the team of the Central Bank of Iraq a key role and leading in achieving. The most important of which is the support of the state treasury, the stability of the exchange rate, the recovery of the Iraqi dinar, the reduction of inflation and the maintenance of its share of less than (2%). And to maintain a 160% cash reserve as a cumulative accumulator in accordance with the latest IMF standard with gold reserves within an excellent record rate. The third is the Arab and the 37th globally, in addition to its adoption of standards and controls that comply with the requirements of international standards of compliance and Kavhh money laundering and terrorism financing and liquidation of up to 700 international Note registered on the Iraqi banking system and our exit from the area of ​​monitoring and follow-up according to the Financial Action Task Force (FATF (and strict adherence to achieving basic goals  And the activation and consolidation of new visions for the applications of monetary policy and the important thing that is achieved is the stability of the exchange rate and reduce the gap between the official price of the US dollar and the parallel price is a key objective of monetary policy   and the implementation of the policy of re-trust banking transactions with Iraqi banks and Arab and foreign banks and seeking to build a solid banking sector and continuing To make extraordinary efforts to improve the banking reputation of international financial institutions and organizations and correspondent banks.   And building strong relations with Arab and foreign central banks and international financial organizations. The Security Council’s invitation to the Governor of the Central Bank in his rare event to present the achievements in the field of combating money laundering and financing of terrorism. The procedural, regulatory, Which aims at achieving financial stability and developing the banking business technically, structurally and organizationally, and raising the percentage of financial coverage to the target percentage, where he prepared and laid the foundations of financial and technical appropriate to the reality of the Iraqi economy and banking mechanisms, which formed a solid base on the domestic and abroad. All these achievements have prompted the Arab bank governors to elect the Governor of the Central Bank as the current governor of the Arab Monetary Fund and as the chairman of their board in the next session, a vivid embodiment of Iraq’s economy recovering from its crises and that is a tribute to the Iraqi people and its economic, financial and banking institutions. The Prime Minister is required to implement Article 58 in the budget of 2019 in accordance with transparency and respect for the principle of public service in the service of society and to be honored the achievement of national economic achievements and they are on the agency’s site and install and motivate them to complete the triumphant march in the service of Iraq and its people and economy. With appreciation

http://economy-news.net/content.php?id=17061

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Iraq Fund named “Best Performing Emerging Mkt Hedge Fund”

 

Hedge fund industry journal Alpha Week is reporting that in the month of May 2019 Northern Gulf Partners’ investment fund Iraq Investment Partners I (IIPI) was the world’s best performing emerging markets hedge fund according to data compiled by the BarclayHedge Global Hedge Fund database. IIPI increased 13.57% net of all fees during the month.

Portfolio manager Bartle Bull said:

“IIPI is one of the few investment vehicles focused on the Iraq Stock Exchange (ISX). IIPI provides best-in-class access to the potential of Iraq’s growing economy and capital markets through a selective portfolio of Iraq’s best public companies, managed by one of Iraq’s most experienced investment teams”

(Source: Northern Gulf Partners)

http://www.iraq-businessnews.com/2019/06/29/iraq-fund-named-best-performing-emerging-mkt-hedge-fund/

The president returns to the country after a visit to London

 

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The president returns to the country after a visit to London

President Barham Saleh returned to the country Saturday morning after a visit to London, which lasted several days, according to the information office of the President of the Republic.

During his visit, Saleh met with Queen Elizabeth II in the presence of First Lady, Prime Minister Teresa Mae, House of Lords Lord Peter Norman Fowler and a number of ministers and senior British officials.

The two sides discussed the bilateral relations between Iraq and Britain and ways to enhance the prospects for joint cooperation in the interests of the two peoples.

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Oil Minister: We seek to reduce gas prices to attract investors in this sector to Iraq

2019/06/28 11:46:21

The Deputy Prime Minister for Energy and Oil Minister Thamer Ghadhban said on Friday that his ministry plans to reduce gas prices to attract industrial companies invested in the sector.

“Iraq is one of the founding countries of OPEC and has an influential role in the organization,” Ghadhban said during a meeting at the Iraq Oil Conference in London on June 27-28, 2019. “Iraq seeks to be ranked second among countries Exporting in OPEC “.

He added that “Iraq is working to diversify its economic sources and not rely primarily on oil, and consider activating the industrial sectors in Iraq to support the private sector.”

He added that “there are many topics we work on, including the manufacture of naphtha and petrochemicals as we can produce these materials internally and export them,” adding that “Iraq wants to reduce gas prices to attract investors in this sector.”

“The solution is not in the oil industry, but in activating Iraq’s internal economy. This requires a long-term strategy, and the recovery of the domestic economy takes time,” he said.

“There are European countries that have succeeded in developing their internal economy and we have to benefit from their experiences. We attach importance to the internal economy, and Iraq is a country rich in youth, with 40 percent of the population and their capacity in this field,” he said.

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The agenda of the visit of the UN Security Council delegation to Baghdad on Saturday

Release date: 2019/6/28 18:49

(Baghdad: Al-Furat News) The capital Baghdad tomorrow will host members of the UN Security Council for a one-day visit at the invitation of the government.

“This is a historic visit that comes in line with Iraq’s intention to strengthen its international start, its effectiveness and its growing diplomatic activity in the process of opening up to the world, guided by the basic principles in the country,” Foreign Ministry spokesman Ahmad al-Sahaf said in a statement. Charter of the United Nations, which is one of its founders. ”

“It also marks the contents of this visit to success in efforts to extend security, stability and reconstruction, as well as to assert the sovereignty, unity and integrity of Iraq.”

“Iraq expresses the importance of this visit to an important organ of the United Nations because of its pivotal role in maintaining peace, security and the resolution of international issues through political means. It believes that its role must be strengthened and its functions effectively discharged; Suffer from the region. ”

He revealed that “the visit includes meetings with Presidents Barham Salih, the House of Representatives Mohammed Halbusi, the Council of Ministers Adel Abdul Mahdi, and representatives of the Kurdistan Regional Government of Iraq.”

http://alforatnews.com/modules/news/article.php?storyid=202154

Gold is on the bright side of the trade heading towards the best monthly performance in 3 years

Release date: 2019/6/28 17:49

The price of gold rose, heading towards the best monthly performance in three years, while the uncertainty over whether upcoming trade talks between China and the United States would result in any progress in ending the ongoing trade dispute between the two countries since Public.

In early trading today, spot gold rose 0.3% to $ 1413.80 an ounce. Gold has rallied around 8.4% since the beginning of the month and is heading towards the biggest monthly percentage gain since June 2016.

With gold up nearly 1.2% since the beginning of the week, it is also heading towards a sixth consecutive weekly gain.

Gold futures in US futures rose 0.3% to $ 1416.60 an ounce.

G20 leaders meet on Friday and Saturday in Osaka, Japan, but the most anticipated meeting is between US President Donald Trump and his Chinese counterpart, Xi Jinping, scheduled for Saturday.

The Daily Wall Journal reported yesterday that Shi plans to present a set of items on Trump that the United States must meet before Beijing is ready to settle their trade dispute.

“The ongoing tensions over US-China trade talks helped gold with some purchases in safe haven assets ahead of the G20 meeting on Saturday,” said Daniel Heinz, analyst at ANZ.

“The emergence of a list of demands from China reminds the market only that resuming trade talks again will be a difficult process,” he said.

Trading tensions also weighed on equity markets on Friday, boosting demand for the precious metal, which is considered a safe haven.

The yellow metal also received support from the dollar’s decline. The dollar index fell slightly after touching the highest level in a week in the previous session.

For other precious metals, silver fell 0.1% to $ 15.24 an ounce. Silver is heading towards its first monthly gain in 5 months and is in the best monthly performance since the beginning of this year.

Palladium fell 0.8% to $ 1537.82 an ounce. But the metal used in the automotive sector has risen more than 16% since the beginning of the month, achieving the largest monthly increase in percentage since November 2016. Ended

http://alforatnews.com/modules/news/article.php?storyid=202147

UN Security Council members to visit Baghdad on Saturday: FM

By Rudaw 57 minutes ago

         

U.N. Security Council meeting on February 24, 2018. Photo: AP/ Craig Ruttle

ERBIL, Kurdistan Region- A United Nation’s Security Council delegation is set to visit Baghdad tomorrow  in a bid to “affirm” support for Iraq, a Foreign Ministry Spokesperson announced, as Iraq struggles to maintain a middle ground in current tension between the US, its regional allies and Iran.

 

“The visit of security council members tomorrow will be within the framework of supporting Iraq as it adopts a balanced view in bolstering its status internationally,” said Ahmed al-Sahaf, spokesperson for Iraq’s Ministry of Foreign Affairs, on social media.

 

The visit, to be made upon the request of the Iraqi government, affirms their support for Iraq’s “sovereignty, security and territorial unity,” said al-Sahaf, as Iraq struggles to maintain its balance on a US-Iran diplomatic tightrope.

 

An uptick of violence in the Persian Gulf and Gulf of Oman, including the Iranian shootdown of a naval reconnaissance drone in the Gulf of Oman on June 20 and attacks on several oil tankers, has seen threats of military conflict increase.

 

Iraq’s government had recently been planning to reduce the UN agenda in Iraq, but these skyrocketing US-Iran tensions have placed those plans on the backburner.

 

Current and former political figureheads in Iraq have stressed the country’s desire to play a role of conflict resolution between the two countries; Sahaf said the visit is an act of recognition of Iraq’s “active and effective” diplomacy.

 

But tensions appear to be playing out on sovereign Iraqi territory, as a spate of rocket attacks, blamed on Iran-affiliated Shiite militias based in Iraq at sites of American military and commercial interest have taken place in recent weeks.

  

 “The visit of the members of the international security council will be to affirm their support for the continuation of Iraq’s efforts in stability and rebuilding,” al-Sahaf added.

 

Iraq requires $88 billion for reconstruction following recurrent waves of post-2003 Iraq War violence including war with the Islamic State (ISIS). Officials told an international donors’ conference in February 2018. Despite some pledges from Iraq’s allies, the amount allocated still falls drastically short. UN support is crucial in the execution of, and drumming up of funds for, reconstruction projects.

 

The UN has been called upon by Kurdish leaders to step in to mediate for a resolution of Iraq’s internal issues,  including that of  territories disputed by Baghdad and Erbil, particularly Kirkuk.

 

Alarm has been shown by the UN at rising US-Iran tensions. Rosemary DiCarlo, the United Nations Political Affairs chief, told the Security Council on Wednesday that peace in the Gulf is at a “critical juncture”  as she called on all parties to abide by an increasingly flailing nuclear deal, while UN Secretary-General  Antonio Guterres called for “nerves of steel” and the avoidance of “any further sorts of provocation.”

 

Iraqi protestors stormed the Bahraini embassy in Baghdad late on Thursday night in response to Bahrain’s decision to host a Trump administration- backed Israel-Palestine peace plan conference. The attack on an embassy of a staunch Saudi ally has been met with widespread condemnation from US allies in the Gulf. Bahrain recalled its ambassador in response to the storming. 

Rudaw.net