The alarm sounded for the economy of Iraqi Kurdistan


The political equations in Iraq in the period of relative peace return to this country, after the end of the caliphate declared by ISIS led by Abu Bakr al-Baghdadi, still face a wide range of political, social and economic crises.

Differences between Iraqi political currents, continuing differences between the Iraqi central government and the Kurdistan Regional Government, social crises after the period of the rule of ISIS terrorists in parts of Iraq, the crisis of the return of refugees to their areas, the problem of rebuilding war-torn cities, and most important of all the heavy external financial debt Among the issues still weighing on Iraq, tired of terrorism and bloodshed.

In the meantime, the issue of heavy financial debt to the federal government and the KRG is the most tangible level.According to the reports submitted, the central government with about $ 85 billion of debt, has the greatest responsibility in managing the Iraqi economy in the new era.

However, in terms of oil revenues and the ability to borrow from international financial institutions, the central government seems to be able to manage this in the not-too-distant future.

But more importantly, the KRG’s $ 17 billion in debt appears to be a major crisis in northern Iraq, and given Erbil’s restrictions on earning private revenues, it seems very difficult to make up for this level of debt.

Economy of the Kurdistan Region under the rubble of heavy financial debt

In the past few years, several reports have been published about the size of Iraq’s Kurdistan’s external debt, most of which emphasize Erbil’s heavy debt of around $ 20 billion to foreign companies and countries.

What is clear is that most of the Kurdistan region’s debt comes from the debt of this autonomous region in northern Iraq to Turkey, and the Kurdistan region has received several billion dollars from the Russian company “Rosneft” to sell oil in advance.

In this regard, Euromoney, the prestigious European financial and banking institution, in a report, estimated the debt of the Kurdistan region at $ 17 billion, but stressed the lack of adequate financial transparency in the region.Therefore, the KRG’s debt may be higher than estimated.

Euromoney warned that this amount of external debt to a region of 5 million people, equivalent to about 100% of GDP, and if the Kurdistan Region of Iraq fails to solve this problem, it will face greater problems in the economic field.

Euromoney also warned that since the Kurdistan region of Iraq cannot issue bonds without reference to the Iraqi central government or obtain international loans, Erbil will not be able to attract funds of international origin easily.

The economy of the region is a victim of failed independence

Undoubtedly, the most important factor in the current state of the economy of the Kurdistan Region can be traced to the ambitious plan of some Erbil leaders to move to the stage of independence and secession from Iraq.

The leaders of the region in mid-2013 followed the strategy of independent sale of oil through the oil pipeline between Kirkuk – Ceyhan Turkish port, through the plan of the Minister of Natural Resources in the Kurdistan Regional Government, “Ashti Hawrami.”

Following the decision, the Baghdad government led by Nouri al-Maliki cut in the first measure the region’s share of 17% of the annual Iraqi budget. Moreover, relations with Baghdad reached the lowest level in all dimensions.

The recent move by the province to move towards a referendum on independence on 25 September 2017 has compounded the economic problems of the KRG.

During this period, the Kurds took the path of borrowing from oil companies, in order to secure a minimum wage for workers in their departments.

They also received heavy loans from the Ankara government, supported by oil exports through Turkey.

However, in the new case, international bankers told this institution that the most important issue is that the KRG has high levels of debt to foreign countries but is still seeking independence from Iraq, and this will have a negative impact on the KRG economy.

As a result, what seems certain in the new situation is the need for the region to change its approach to future issues and relations with Baghdad.

In this regard, “Euromoney” to an article written by the Prime Minister of the Kurdistan region in a US newspaper recently, on forgetting independence and the adoption of comprehensive interaction with the Iraqi central government, saying that this approach is appropriate to address the economic distress of this Kurdish region in Iraq.

Source: Time

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Parliament adjourns until Monday

Saturday 21 September 2019 04:46 PM

Baghdad / .. The House of Representatives voted in its fourth session of the first legislative term of the second legislative year of the fourth parliamentary session, which was held under the chairmanship of Mohammed Halbousi, Speaker of the House of Representatives on Saturday 21/9/2019 and the presence of 180 deputies, on four laws, and finished reading two laws and completed Discuss the Health Insurance Law proposal.

A statement by the Council, received, “Iraq News”, said that “at the outset of the session, Halbousi noted the need to set a date to discuss the housing crisis and host the security side by the Security and Defense Committee to learn the reasons for the bombing of Karbala terrorist and other incidents, in addition to directing a joint meeting Between the Finance, Economy and Investment Committees on the subject of domestic product support. ”

The Council voted on the draft law on the accession of the Republic of Iraq to the Convention on Maternity Protection No. 183 of 2000, submitted by the Committees on Foreign Relations, Women, Family and Children, which aims to strengthen the legal protection of motherhood and the health and safety of children and to continue to promote equality for all working women and to join the Convention.

It also voted on the draft law ratifying the Protocol of 2014 supplementing the Convention on Forced Labor No. 29 of 1930 and submitted by the Committee on Foreign Relations, which aims to ensure decent work for all and to eliminate forced labor in all its forms and for the purpose of ratifying the Protocol.

The Council voted on the draft law ratifying the Convention on the Exemption of Holders of Diplomatic Passports and Official Service from the Entry Visa between the Government of the Republic of Iraq and the Government of the Republic of Serbia submitted by the Foreign Relations Committee in order to strengthen bilateral relations between the Republic of Iraq and the Republic of Serbia and to facilitate the travel of citizens of the two countries who hold diplomatic passports and official service. And to ratify the Convention.

In the same regard, the Council voted on the draft law on the accession of the Republic of Iraq to the UNESCO Convention on the Protection of the Underwater Cultural Heritage submitted by the Committee on Foreign Relations, Culture, Tourism and Antiquities in order to strengthen the protection of underwater cultural heritage and cooperation between States to achieve this and preserve it for the benefit of humanity. Heritage is of importance as an integral part of cultural heritage and a very important element in the history of peoples and nations and the history of relations among them regarding their common heritage and for the purpose of accession to the Convention.

On the other hand, the President of the Council to form an investigative committee of the competent committees to investigate contracts concluded by the Ministry of Electricity from 2006 until now.

During the session, which was chaired by Bashir Al-Haddad, Deputy Speaker of the Council of Representatives, the first reading of the proposed amendment law for the second law to compensate those affected by military operations, military errors and terrorist operations No. 20 of 2009, submitted by the legal committees, martyrs, victims, political prisoners and human rights, submitted by the legal committees. Martyrs, victims, political prisoners and human rights, in order to alleviate the suffering of citizens in liberated areas and areas damaged by terrorist operations and military mistakes in order to open more than one committee in each province Dah number of central committees for the purpose of compensation has completed a number of transactions of the citizens, as well as the inclusion of the families of martyrs and injured members of the internal security forces and the armed forces and security services privileges stipulated in the law.

The Council completed the first reading of the draft law of the First Amendment to the Law of Supporting the Internal Sections Fund at the Ministry of Higher Education and Scientific Research No. 7 of 2012, submitted by the Higher Education and Scientific Research Committee, in order to enhance the financial resources of the Fund for the Support of Internal Sections. Higher education and scientific research established under the decree of the Revolutionary Command Council (dissolved) No. (216) of 2000 (repealed).

The Council completed the discussion of the Health Insurance Law proposal submitted by the Health and Environment Committee.

The interventions focused on the need to involve more than a parliamentary committee in the discussion of the law and the work of workshops in which the parties concerned and specialists in this area.

For its part, the Committee stressed the need to legislate the law as one of the important laws as it contributes to achieve some kind of community justice and to provide rewarding health services to citizens, demanding to give more opportunity to hold various meetings and discussions and the establishment of specialized workshops, to mature the law before it is put to a vote.

Meanwhile, Bashir al-Haddad directed the permanent parliamentary committees, which did not elect a president, to end this file this week.

The Council discussed a number of important issues, including the issue of removing abuses in many governorates, in addition to allowing holders of certificates from employees of the Ministry of Interior to move to other civil ministries, as well as the reasons for not implementing the establishment of a hospital to treat cancer diseases from the Kuwaiti grant in Dhi Qar province, In addition to the demand to stop the demolition of the Artists Syndicate in Basra as an old and historical facility in the province, urging the municipal departments in the provinces of Karbala and Najaf holy to prepare for the forty visit through the rehabilitation of some of the damaged roads, pointing to the need To respond to the demands of the demonstrators veterinarians on bringing them to the medical gradually, similar to their colleagues in other medical specialties, as well as addressing the issue of changing the sex of land from agricultural to residential.

On the other hand, Bashir Al-Haddad directed the Finance and Agriculture Committees to follow up the issue of compensating the peasants with the Ministry of Finance and take the necessary action, in addition to meeting with the veterinarian demonstrators and listening to their demands. And competencies needed by the labor market.

It was then decided to adjourn the session until Monday 23/9/2019.

http://aynaliraqnews.com/index.php?aa=news&id22=125321

Fit in New York that’s why

Baghdad / .. President Barham Saleh, arrived on Saturday, to New York to participate in the meetings of the United Nations General Assembly.

The seventy-fourth session of the United Nations General Assembly began at the headquarters of the Organization in New York on 17 September.

The annual general debate will open on Tuesday, 24 September. On this occasion, the Heads of State and Government and other eminent national representatives will meet to present their priorities and exchange views on the major global stakes.

http://aynaliraqnews.com/index.php?aa=news&id22=125328

US grants more than $ 6 million to displaced minorities in Iraq

Society

America

minorities

Iraq

2019/09/21 14:58:48

The US Agency for International Development (USAID) Director Mark Green announced on Saturday new financial assistance as part of efforts by the US government, announced by Vice President Mike Pines, to support ethnic and religious minorities displaced by the genocide committed by the alleged Islamic State. In Iraq and Syria.

USAID has given $ 6.8 million to CRS, which works in partnership with the Chaldean Catholic Diocese in Erbil, to help vulnerable families meet their immediate family needs and reduce their return home when possible.

A separate award under the USAID Memorandum of Understanding with the Government of Poland will provide $ 528,500 for a multi-donor project to provide high-quality health care to communities affected by ISIS persecution.

The beneficiaries will include displaced persons living in camps and locations outside camps in northern Iraq, as well as individuals deprived of host communities. The activity will be funded by two fixed clinics and one mobile medical team.

This new assistance is part of the US government’s commitment to help oppressed minorities and preserve Iraq’s heritage of religious and ethnic pluralism. USAID works with elected officials, community leaders, local and faith-based NGOs, and the private sector to help the religious and ethnic minorities targeted by ISIS to improve their living conditions, expand their economic opportunities, and encourage their democratic participation.

The US government’s assistance to support the oppressed ethnic and religious minorities in northern Iraq is about $ 380 million.

This assistance includes crucial funding through the US Agency for International Development (USAID) initiative to restore genocide and response to persecution, complementing HR 390, the 2018 Iraq-Syria Genocide Relief and Matter Act, passed bipartisan support in the US Congress, and President Donald Trump signed a law on December 11.

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Parliament votes to form a committee to investigate contracts of the Ministry of Electricity since 2006

 

Parliament votes to form a committee to investigate contracts of the Ministry of Electricity since 2006

Baghdad / Al-Ghad Press:
The House of Representatives voted on Saturday to form a committee to investigate contracts concluded by the Ministry of Electricity from 2006.

The correspondent of “tomorrow press”, that the House of Representatives voted to form an investigative committee to investigate contracts concluded by the Ministry of Electricity from 2006 and so far.

Earlier on Saturday, the House of Representatives held its fourth regular session in the first legislative term of the second year under the chairmanship of Mohammed Halbousi.

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With the document .. Abolition of the position of Abu Mahdi al-Mohandes within the new structure of the crowd

 

Baghdad / News

A leaked document from the PMU revealed details of the new restructuring, which includes the nomination of the chief of staff of the PMU and a secretary.

 

 

 

The delegation of Iraq arrives in New York to participate in the meetings of the United Nations General Assembly

 

Release date:: 2019/21 14:21 • 137 read times
The delegation of Iraq arrived in New York to participate in the meetings of the United Nations General Assembly.
The seventy-fourth session of the United Nations General Assembly began at the headquarters of the Organization in New York on 17 September.
The annual general debate will open on Tuesday, 24 September. On this occasion, the Heads of State and Government and other eminent national representatives will meet to present their priorities and exchange views on the major global stakes. is over