The World Bank: Iraq is experiencing its worst crisis since 2003 .. We put a large financial portfolio for it – urgent

409 Policy 2021/02/08 07:21 amm

Baghdad today – Baghdad

The Resident Representative of the World Bank in Iraq, Ramzi Numan, confirmed that the bank supports the Iraqi government in several directions to get out of the current economic crisis, and that there is great support for the white reform paper adopted by the government in order to get out of the crisis, and while he called for comprehensive reform in the Iraqi banking sector He stressed that the Iraqi society is a “youth society” that can revive the country if its energies are properly and seriously invested.

In his interview with the semi-official Al-Sabah newspaper, Numan said, “It must be pointed out first, that the experience and history of the World Bank to work with the government and people of Iraq extends for a long history full of projects that have been jointly worked on. However, the current bank is currently working closely. Closer to the Iraqi government to face the emerging and accumulating crises that are added to the existing problems in Iraq, and the consequent decline in oil prices, protests, the Corona pandemic and its health, economic and social consequences that have formed a great burden on the country.

He continued, “These conditions that Iraq is going through are the worst since the year 2003 on a unilateral economy that depends on oil, and there is a fact that all of this left great burdens that were reflected in the ability of the Iraqi government to deal with emergency needs.”

He explained, “The World Bank has set up a very large financial portfolio file for the projects it implements in Iraq, and this portfolio is directed to several destinations, whether reconstruction projects for areas liberated from” ISIS “gangs or to face the social crises that have arisen from this matter, in addition to some other projects. Which is working on structural reforms in the economy, and we are working hard with the government to approach solutions to emergency crises and keep pace with the reform white paper initiative put forward by Prime Minister Mustafa Al-Kazemi.

Al-Kazemi and the National Union bloc discuss the region’s share of the budget and employees ’salaries

Editing date: 7/2/2021 20:43 • 59 times read


The Patriotic Union of Kurdistan parliamentary bloc headed by Ala Talabani held a meeting today, Sunday, with Prime Minister Mustafa Al-Kazemi.

A spokesman for the bloc, Bakhtiar Shaways, said in a statement, “During the meeting, the National Union bloc reiterated the emphasis on resolving the outstanding problems between the governments of the region and Baghdad on the basis of the constitution, especially the problem of the Kurdistan region’s share and employees’ salaries. ”

He added, “Another axis of the meeting was devoted to highlighting the problems of Kirkuk, Khanaqin and the [disputed] regions, and finding constitutional and legal solutions to those problems.”

He continued, that during this part of the meeting, the representatives of the National Union bloc in the House of Representatives referred to those areas to the problems and immediate and realistic solutions in a manner consistent with the sensitive and special situation of those regions.

Parliamentary Finance: The last paragraph in the budget for Kurdistan will be presented tomorrow

PolicyFebruary 07-2021 06:18 PM – Views: 2585

The Parliamentary Finance Committee confirmed today, Sunday, that the last paragraph in the draft federal budget law for 2021 for the Kurdistan region will be presented tomorrow.

A member of the committee, Ahmed Hama, said in a statement to “Tigris”, that “all the outstanding articles in the draft federal budget law for 2021 have been dealt with and resolved, except for the paragraph for the Kurdistan region,” noting that “the Parliamentary Finance Committee will present the paragraph for discussion during its meeting tomorrow, Monday, to put it as a formula.” Final within the budget. ”

He added that “it was hoped to discuss it today with the other articles, but it was postponed and will be discussed tomorrow,” noting that “the region’s share within the budget will be 12.67 without any change or amendment being made to it.”

Today, Sunday, the Finance Committee in the House of Representatives decided to add a financial allocation within the 2021 budget to rehabilitate the entrances to the capital, Baghdad.

“The Finance Committee decides to double the petrodollar allocations within the 2021 budget to (one trillion) that go to the oil-producing provinces,” the House of Representatives media department stated in a statement received by the Tigris.

Revealing the latest findings of the Kurdish delegation’s negotiations with Baghdad regarding the budget

193 Policy 02/07/2021 17:56 ht

Baghdad Today – Baghdad

The head of the Kurdistan Democratic Party bloc in the House of Representatives, Vian Sabri, confirmed today, Sunday (07 February 2021), that negotiations between the central government in Baghdad and the Finance Committee with the Kurdish delegation representing the Kurdistan Regional Government regarding the region’s share in the 2021 budget. It is still continuing and did not reach any satisfactory results so far. 

“The negotiating delegation of the Kurdistan region will return to Baghdad again within the next two days, in order to end the dispute and reach final solutions regarding Kurdistan’s share in the draft 2021 budget law,” Sabri said in an interview. 

She added that “negotiations are still continuing until now and we have not reached any satisfactory solutions,” pointing to me that “the Kurdish delegation will present new solutions in order to solve the crisis between the two parties.”

Earlier, the head of the Bayariq al-Khair parliamentary bloc, Muhammad Othman al-Khalidi, confirmed, on Sunday (February 7, 2021), that there are five points of contention between Baghdad and Erbil that prevent the federal budget bill from being resolved.

Al-Khalidi said, in an interview with (Baghdad Today), that “the 2021 budget will not be resolved this week because the problems between the center and the Kurdistan region are still intractable until now.”

He added, “There are other problems related to the rights of the provinces that can be solved, but the situation is different between Baghdad and Erbil, and if there are no major concessions, the budget will not pass.”

Al-Khalidi explained, “The Kurdistan region will go through a tense economic situation if the 2021 budget is passed without Kurdish consensus,” indicating that “he excludes reviewing the budget during the next few days.”

He pointed out that there are “5 files that constitute differences between Baghdad and Erbil, which are salaries, financial dues, oil and customs, in addition to a proposal to establish a representation for the federal government in the region to oversee institutions, and this is a controversial matter so far.”

Initial agreement to approve the budget next week in the event of an agreement with the Kurdish blocs


an agreement

The budget


2021-02-07 05:30

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Shafaq News / A parliamentary source said on Sunday that a preliminary agreement has been reached between all political forces to pass the 2021 budget bill early next week.

The source said to Shafaq News, that the blocs agreed that next Saturday will be the date for the parliamentary session to start voting on the draft budget law after an agreement is reached and agreed with the Kurdish forces regarding the Kurdistan Region’s share of the budget during the next two days.

Earlier in the day, Prime Minister Mustafa Al-Kazemi held a meeting with members of the Parliamentary Finance Committee, during which the federal budget for 2021 was discussed, and the joint cooperation between the executive and legislative authorities was continued in order to expedite its approval.

It is scheduled that the Kurdistan Regional Government delegation will return to the capital, Baghdad, this week, with the aim of resuming a fourth round of negotiations, which are said to be crucial in fixing the region’s share of the budget.

The regional government delegation reached an agreement with the federal government to deliver 250,000 barrels of crude oil per day and half of the financial revenues generated from the border outlets in exchange for Baghdad granting 12.67% of the budget to Kurdistan after deducting the sovereign and governance expenditures, and this was confirmed in the draft budget bill However, the delegation, on its last visit, was informed that the agreement was no longer valid.

Countries’ possession of gold is rising and Iraq maintains its ranking in the world


Economy News _ Baghdad

The World Gold Council announced, on Sunday, that the central banks’ possession of gold increased, while Iraq maintained its world ranking at 38th.

The council said in its latest schedule for February 2021, which was seen by “Al-Eqtisad News”, that “the possession of gold by central banks of countries increased by 6 tons to reach 35.197 thousand tons compared to the previous month.”

He added that the main buyers of gold during this month are Turkey, India, Kazakhstan and Uzbekistan, while the main sellers of gold are Mongolia and Malta.

The council noted that “Iraq still maintains the 38th position in the world and the fifth in the Arab world with the largest gold reserves at 96.3 tons, which represents 10.1% of the rest of the other reserves.”

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change and its members consist of the largest and most advanced gold mining companies in the world.

A statement from Al-Kazemi’s office about the latter’s meeting with the Finance Committee

Political | 01:55 – 07/02/2021

BAGHDAD – Mawazine News

The office of the Prime Minister, Mustafa Al-Kazemi, published on Sunday the details of the last meeting of the Parliamentary Finance Committee.

A statement of the office, a copy of which was received by Mawazine News, stated that “The Prime Minister, Mustafa Al-Kazemi, held a meeting today with members of the Parliamentary Finance Committee, during which the federal budget for 2021 was discussed, and the joint cooperation between the executive and legislative authorities was continued with the aim of expediting its approval. “.

The Prime Minister stressed, “The financial budget that the government sent its draft earlier aims at financial and economic reform and support for vital sectors, which would address a large part of the Iraqi economy’s problems that it has been suffering from for decades.

He pointed out “the importance of investing in the recent increase in oil prices in a way that contributes to easing the burden on the citizen in the budget copy that is submitted to the vote in Parliament.”

He stressed “the necessity of activating the mechanisms of automation and digital dealing, and also activating the role of the Federal Service Council, in the course of economic reform.”

Al-Kazemi warned, “The need to adopt the principle of justice in distributing wealth among all regions of Iraq, in accordance with the principles of the constitution, and not to include political disputes in the citizen’s food file and the level of services provided to him.”

 And the Prime Minister stated, “The country is currently facing many challenges, and we are working hard to reform the current situation and put the Iraqi economy on the right track. It comes as an implementation of the government program that the House of Representatives voted on and also included in the government white paper.”

He pointed out, “The agreement to intensify the holding of sessions between the executive and legislative authorities, to ensure the approval of a reform budget that preserves the rights of the citizen, and as soon as possible, and that the work of the legislative and executive authorities is complementary, in the spirit of one team, seeking to advance the historical responsibility, to get the country out of the current situation.” Ended 29 / A43

The Central Bank launches the first financial service of its kind in Iraq and the region

Time: 02/07/2021 09:17:18 Read: 4,914 times

{Baghdad: Al Furat News} The Central Bank of Iraq announced the launch of the digital enrollment service, which is the first of its kind in Iraq and the region.

A bank statement said that the Euphrates News Agency received a copy of it, “Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in Financial transactions within banks operating in Iraq. ”

He explained, “This service is considered a new and different trend because of its many advantages, including conducting financial operations in a modern digital electronic form, which reduces time and geographical distances and raises traditional barriers in the Iraqi banking sector.”

Ammar Al-Masoudi

Parliamentary Finance meeting and Kazemi end and the last Parliament promises to respond to budget amendments soon


2021 budget

2021-02-07 04:59

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Shafaq News / On Sunday, an informed source said that the meeting between the members of the Finance Committee, the Prime Minister and his government team regarding the 2021 budget has ended.

The source informed Shafaq News Agency; That the Finance Committee handed over to the Cabinet the new version of the revised budget bill by the Parliamentary Committee for the purpose of studying it extensively.

Source added; The Prime Minister and his government team promised to respond to the recent amendments, so that a date will be set for a vote on the budget law.