US lifts Vietnam, Switzerland from currency manipulator list

April 17, 2021 (Mainichi Japan)

This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. (AP Photo/Patrick Semansky)

WASHINGTON (AP) — Vietnam and Switzerland have been removed from the list of nations labeled by the U.S. as currency manipulators, reversing a decision made by the Trump administration in December.

In its semi-annual report to Congress on currency manipulation, the first under the Biden administration, the U.S. Treasury Department said Friday that no country currently meets the U.S. criteria as a manipulator. It said, however, that Vietnam, Switzerland, as well as Taiwan, will be under enhanced monitoring.

At the higher level of scrutiny which the report called “enhanced engagement,” Vietnam, Switzerland and now Taiwan will be subjected to closer review of their practices as part of laws passed by Congress requiring the administration to call out nations that are engaging in alleged currency manipulation to gain unfair trade advantages over the United States.

The Treasury did not designate China as a currency manipulator, something the Trump administration had done in 2019 during a tense trade stand-off with the world’s second largest economy. China is included on a list of 11 countries being monitored at a lower level than Vietnam, Switzerland, as well as Taiwan.

Also on the list with China are Japan, South Korea, Germany, Ireland, Italy, India, Malaysia, Singapore, Thailand and Mexico. Only Ireland and Mexico were added to the list Friday.

None of the countries on either list has U.S. economic sanctions against them due to alleged currency manipulation.

Nations that have been alleged by the U.S. to be participating in manipulation generally engage in selling their own currency and buying U.S. dollars as a way of lowering the value of their currency while boosting the value of the dollar. A weaker currency can make a country’s exports cheaper on foreign markets while making imports more expensive.

In the history of these twice-a-year reports to Congress going back to 1988, Treasury has only branded three countries as currency manipulators. The Trump administration named China as a currency manipulator in 2019 during a standoff over tariffs. The United States had also named China as a currency manipulator from 1992 to 1994. Treasury also imposed that label on Japan and Taiwan in the 1980s.

Being designated as a currency manipulator can mean the imposition of U.S. economic sanctions if a period of negotiations fails to resolve the issues that the U.S. finds objectionable.

Private analysts supported the Biden administration’s withdrawal of Vietnam and Switzerland as currency manipulators.

Eswar Prasad, an economics professor at Cornell University, said that the new administration had decided against using the report as an overtly political tool that ensnared U.S. allies.

“This will help rebuild some of the credibility of the report so it will serve a useful purpose when it is truly needed in the future to highlight unfair currency management practices of other countries,” Prasad said

https://mainichi.jp/english/articles/20210417/p2g/00m/0bu/045000c

A parliamentary bloc reveals the truth about the secret negotiations between Iran and the United States in Iraq

981 Policy 04/2021 16:50

Baghdad today – Baghdad 

The head of the Bayariq Al-Khair Parliamentary Bloc, Muhammad Othman Al-Khalidi, revealed today, Tuesday, the truth about the news that talks about secret negotiations between American-Iranian delegations in Iraq.

In an interview with (Baghdad Today), Muhammad al-Khalidi said, “There is a series of problems between America and Iran that have multiple addresses, the most prominent of which comes in the economic framework that represents the most important and influential pyramid in the rest of the files.”

Al-Khalidi added, “The Biden government, after seizing control of matters in the White House, opened the door wide open to dialogues with Iran.” .

The head of the Bayariq al-Khair bloc in Parliament pointed out that “Iraq is effective in the Middle East region and has an impact in these meetings in terms of pushing for a more stable environment in the Middle East.”

And recent press reports spoke of Iranian-American negotiations being secretly conducted in the capital, Baghdad, away from the media, with the aim of reaching an agreement between the two parties.

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Finance Minister: We will ask the Presidency of the Republic to reconsider some budget corrections

Time: 04/20/2021 17:39:33 Read: 6,279 times

{Economist: Al Furat News} The Minister of Finance, Ali Abdul Amir Allawi, revealed, on Tuesday, a request that will be submitted to the Presidency of the Republic that includes reviewing some corrections in the 2021 budget.

Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here

“We will ask the Presidency of the Republic to reconsider some of the budget corrections,” Allawi said at the joint weekly press conference held at the cabinet building, attended by the Al Furat News correspondent.

“We will also try to find a good solution to raise the level of the Iraqi’s per capita income,” he added.

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In pictures, the Prime Minister hosts the presidencies and leaders of the blocs in a Ramadan Iftar banquet

2021/04/20 21:22

The number of readings 15th

Section : Iraq

Baghdad / Obelisk:

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A legal expert demonstrates the mechanism for correcting errors in the Official Gazette

Politics

Official Gazette

Typographical errors

2021-04-20 11:31

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Shafaq News / The legal expert, Tariq Harb, explained, on Tuesday, that errors in the materials published in the Iraqi Al-Waqi’a newspaper are an issue that can be corrected by the Presidency of the Republic.

Harb said in a statement received by Shafaq News, that the errors in the Federal Budget Law when it was published in the Iraqi facts are governed by the Law of Publication in the Official Gazette No. 78 of 1977, and its correction requires a statement from the Presidency of the Republic.

He added that there are other errors that must be corrected by the law amending errors when publishing any law in the official gazette, indicating that Law No. 78 of 1977 differentiated between two cases of errors, the first is a typographical error that occurs when the newspaper is printed, and then the Presidency of the Republic issues a correction statement and is published in a later issue of the newspaper. .

Harb pointed out that “many of the statements of the Presidency of the Republic are included in the numbers of the Official Gazette to correct a mistake made in a previous issue, as the correction statement includes the phrase (corrected), then the law and the corrected article are mentioned in its new form and published to replace what was mentioned in the newspaper.”

He explained that the second type of typo occurs when writing or printing in the House of Representatives, and this is not considered a typographical error in publishing and is not considered covered by the previous correction, but rather requires the issuance of a law to amend the parliamentary error.

He pointed out that “a distinction must be made between two types of error, the first that occurs by the legislative authority before publication, of course, and this requires an amendment law, and the second type that is wrong by the executive authority upon publication.”

Harb concluded by saying, “What is received from the legislative authority is published in the manner in which it is stated, even if you assure a typographical error, for example that the number or writing is a million instead of the number thousand, then the publication is done in the form contained, and the error upon publication is corrected by the Presidency of the Republic and the Ministry of Justice. .

It is noteworthy that the Iraqi newspaper Al-Waqa’i ’, which is the official newspaper, published in its latest issue the Federal Budget Law for the year 2021, and included errors in the numbers of the budget tables, in contrast to the version of the law voted by the House of Representatives, which sparked controversy in the political and popular circles.

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Al-Kazemi suspends the Finance Book regarding taxation of employee salaries

276 Policy 2021/04/20 14:57

Baghdad today – Baghdad

Prime Minister Mustafa Al-Kazemi directed, on Tuesday (April 20, 2021), to suspend the Ministry of Finance book on imposing tax on employees’ salaries.

The official news agency reported that “the prime minister suspended the book issued by the Ministry of Finance regarding imposing taxes on the salaries of state employees.”

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The Ministry of Finance embarked on a plan for economic reforms … that includes loans and financing projects aimed at alleviating the housing crisis

2021/04/20 10:59

The number of readings 84

Section : Iraq

Baghdad / Al-Masala: The Ministry of Finance began, on Tuesday April 20, 2021, according to what was included in the white paper, to provide quick loans to small and medium-sized companies and facilitate financing investment projects aimed at alleviating the housing crisis.

The Government Media Cell stated in a statement received by Al-Masalla that the Ministry of Finance presented, according to the government performance program for the six months of last year, many programs and plans within its various sectors.

She added that Rafidain Bank began granting loans worth 100 million dinars to employees looking for housing, and 50 million dinars to buy housing units or renewable solar energy systems, as well as car loans, hotel operation, scientific research, doctors, pharmacists, and private sector employees, valued at 5 10, 15, 20, and 25 million dinars.

The statement added that in order to develop the performance of the financial sector and improve the level of technology in the banking sector, Rafidain Bank has participated in reconstruction and investment projects with strategic plans to improve infrastructure, health, education and tourism.

The Ministry of Finance began implementing the project demarcation file and putting them up for investment, as it began to restore the electrical network and deal with transport bottlenecks in 12 villages, cladding the main roads in five different areas in the governorates, rehabilitating and developing the Al-Akasha water complex in Najmi, restoring the water purification plant in Aziz Balad, and extending The conveyor line from the new Rumaitha project to the Abu Srifa area, equipping and extending the electricity network in the Al Dhuaihir area in the Crescent, extending the conveyor water pipeline in the Warka area and extending the water network of As-Suwayr.

The Ministry of Finance announced investment opportunities ready for implementation, most notably the Al-Qurayat suspension bridge with a length of 2.6 km, which will link between Al-Karkh and Al-Rusafa, the Karbala Al-Hawali road with a length of 66.5 km, the Baghdad Al-Hawali road with a length of 94 km, the highway linking the governorates of Wasit, Baghdad, Karbala and Babil with a length of 235 km, and the link road Between Karbala Governorate and Arar Crossing, with a length of 160 km, and Baghdad-Basmayah Road, with a length of 20 km.

With regard to the file of the banking system, the Central Bank has worked to classify banks according to service, close banks that violate laws and legislate reform laws, and work on developing government banks and changing the exchange rate of the dinar against the dollar, as well as linking the Iraqi banking system to the network of local and international banks, and obtaining a work permit The SWIFT system, the implementation of international banking operations, the business license, the issuance of electronic payment cards in the name of the bank, the initiation of the implementation of the banking system and the completion of important steps in it. According to the statement.

He pointed out that Al-Rafidain Bank contributed to an expanded reconstruction and investment plan to advance the health, educational, educational and tourism sectors, by working on infrastructure for services in accordance with strategic plans, which included 26 projects for residential complexes in 14 governorates, while the Rasheed Bank contributed to granting loans and advances to residential complexes and buying cars and projects. For the unemployed and those with health professions, marriage advances for employees, and loans for liberated areas

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Barzani: We are committed to implementing the budget, and Baghdad has not sent any salaries for ten months

Time: 04/20/2021 14:42:54 Read: 299 times

Today, Tuesday, April 20, 2021, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, met with the consuls and representatives of the European Union countries in the region.

The meeting discussed the situation in the Kurdistan Region and the relationship with the federal government, as well as ways to strengthen relations between the Kurdistan Region and the European Union.

Regarding the relationship with the federal government, the Prime Minister affirmed the commitment of the Kurdistan Region to implement the Federal Budget Law, and called on the federal government to fulfill its obligations towards the Kurdistan Region, indicating that it did not send any salaries to the region for ten months.

The Prime Minister expressed his hope that the approval of the House of Representatives on the budget law would be a good start to find a radical solution to other outstanding issues on the basis of the constitution, especially the implementation of Article 140 and the normalization of conditions in the Kurdish regions outside the administration of the regional government, and said that this would have a positive impact on the security of Iraq And its stability.

The Prime Minister highlighted the government’s reforms aimed at reorganizing and diversifying sources of income, reducing unnecessary expenditures, establishing transparency and reducing the waste of public wealth.

The Prime Minister also indicated that the Kurdistan Regional Government will provide all necessary facilities for foreign and local investors to develop investment in all fields.

At the end of the meeting, the Prime Minister answered the questions and interventions of European Union consuls and representatives working in the region.

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Washington accuses Iran of “dominating” Iraq: We were informed in advance of the strikes

Politics

Iraq

Iran

United State

Hezbollah Brigades

2021-04-20 06:43

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Shafaq News / The American envoy to Iran, Brian Hook, said that his country will continue to respond to any attacks targeting American interests in the region, indicating that the American army is in Iraq at the request of the government, and there are American military forces in some bases in order to help the Iraqis In the fight against terrorism.

Hook added in an interview with Al-Hurra that Washington will not tolerate Iranian chaos in the region and in Iraq, which does not care about its interest but rather wants to dominate it.

Hook stressed the need to deter Iranian acts of terrorism in the Gulf region, and the need to impose sanctions on Tehran, especially because of the killing it committed against its own people.

He revealed that US Defense Secretary Mark Esper had informed the Iraqi side before launching the strikes on Kataib Hezbollah sites in Iraq, indicating that these strikes strengthen Iraqi security against attacks by some Iranian militias that have also killed a number of Iraqi soldiers recently.

Hook pointed out that the Iranian regime is facing the worst economic crisis in 2019, and in 2020 it will face a more difficult period, noting that the Iranian people also demonstrate and demand the removal of a 40-year-old oppressive regime.

On Sunday, American forces launched a series of raids on bases belonging to the Iraqi Hezbollah Brigades, which led to the fall of 25 fighters.

The American strikes came two days after a missile attack on an Iraqi base where American forces were present, and for the first time, the killing of an American contractor in Iraq.

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The Central Bank of Iraq auction sales drop to $ 203 million

Economy

Iraq

breaking

Dollar

central bank

drop

sales

2021-04-20 06:39

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Shafaq News / The Iraqi Central Bank’s hard currency sales decreased today, Tuesday, to $ 203 million.

Shafaq News Agency correspondent stated, “The Central Bank of Iraq witnessed during its auction for the sale and purchase of foreign currencies today a decrease in its sales by 2.7 percent to reach 203 million and 654 thousand and 124 dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar, compared to yesterday. Monday, where sales reached 209 million 454 thousand $ 659.

The purchases amounting to 185 million 444 thousand and 124 dollars went to strengthen the assets abroad in the form of transfers and appropriations, while the banks bought 18 million and 210 thousand dollars in cash.

Our correspondent indicated that 31 banks have fulfilled requests to enhance assets abroad, 18 banks to meet cash requests, and 18 participating exchange companies.

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