The International Monetary Fund expects to play a crucial role in the transformation of digital currencies

Economie| 12:14 – 30/07/2021


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A document released by the International Monetary Fund says it will need to bolster its resources as it seeks to “monitor, advise and help manage the large-scale and complex transition” toward digital currency.

The document stated that “digital currencies are able to facilitate, speed up payments and reduce costs, but this requires policy makers to address major challenges, digital money should be reliable, and domestic economic and financial stability must be protected, and the stability of the international monetary system.”
She added, “The IMF has a critical role in helping its members benefit from the benefits of digital money and manage its risks.”
And she added, “Digital money must be subject to regulatory oversight, and its structure and availability allow countries to continue to control monetary policy, financial conditions and foreign exchange systems.”
The document does not focus on cryptocurrencies such as Bitcoin, nor does it take a position on which type of digital currency might eventually dominate.
The document dated last March, which was discussed by the Fund’s Board of Directors in April, includes a vision for the development of the Fund and its endeavors to cooperate with other institutions such as central banks, regulators and the World Bank.


Al-Kazemi’s advisor confirms the election date: Withdrawals are normal

2021.07.29 – 20:43
Al-Kazemi’s advisor confirms the election date: Withdrawals are normal

Baghdad – people  

Hussain Al-Hendawi, Advisor to the Prime Minister for Elections Affairs, considered the withdrawal of some political forces from the electoral race as a natural matter.   

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Al-Hindawi said in a press statement followed by “Nass” (July 29, 2021), that “the next elections will take place on their scheduled date, which is the tenth of next October.”  

He added, “This date decided by the government in coordination with the Independent High Electoral Commission, the controversy ended after the issuance of a special republican decree confirming it, in addition to the decision of the House of Representatives to dissolve itself supported this date.”  

Al-Hindawi continued, “The withdrawal of some political forces from the electoral race is a natural and legitimate position, but it does not represent a legal reason to cancel or postpone the elections, and this happened in the past, as some forces withdrew from the elections without their withdrawal leading to the postponement of the polls.”  

Al-Hindawi said, “The work of the Electoral Commission is progressing appropriately, and it has succeeded in implementing the timetable for the electoral process set by the commission in coordination with United Nations experts.”  

He continued, “The Commission has also announced more than once recently its technical and logistical readiness to hold these elections on time, after it announced before that the numbers of the voters’ register, and the receipt and verification of the names of the candidates, the number of which exceeded 3,500 candidates, and they are from all provinces, and they represent the components of the Iraqi people without Exception, and from all political and regional currents, in addition to being equal in political and electoral competition.  

Regarding the use of political money in electoral propaganda, Al-Hindawi stressed that “there are effective laws that must be strongly activated to prevent the influence of the phenomenon of uncontrolled political money, as well as uncontrolled weapons, on the conduct of elections.”  

He explained that among those laws is the Political Parties and Organizations Law, which includes important articles in this regard, saying that “the commission must issue additional regulations and instructions and take more necessary measures, including punitive, on the basis of the constitution and laws to prevent any form of electoral violations.”  

He added that “government officials exploiting their positions and responsibilities are violations punishable by law, and documented reporting to the commission is required.”  

Al-Hindawi responded to the objections about the three-month electoral campaign time, saying: “The Commission has implemented the law in this regard, and the House of Representatives is the exclusively legitimate authority. As for criticism, it is always welcome, whether directed against the current election law, or against the work of the Commission.” There are fundamental procedures for objections, appeals and complaints regarding all aspects of the electoral process.  

The Prime Minister’s advisor pointed out that “the upcoming elections will take place in a completely different way and mechanisms than the previous ones. They will adopt the biometric system that will completely prevent external interference in the elections, and thus will prevent fraud.”  

He added, “The government is obligated to provide security protection for the elections, whether for polling stations and stations, or for the commission’s employees and offices, and its stores, and we hope that the elections will be successful, fair and fair in every sense of the word.”

Al-Kazemi’s advisor: Iraq is far from the scenario of Lebanon.. It has oil and it is of high financial strength

2021/07/29 18:17

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  • Section : Iraq

Baghdad / Obelisk: Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, ruled out, Thursday, July 28, 2021, the re-run of Lebanon’s economic scenario in Iraq, as it owns oil and is of high financial strength.

Saleh told Al-Masala, “The economic situation in Iraq is good and is unlikely to reach what Lebanon has reached, as it has collapsed banking and tourism. As for us, we have a strong financial leverage, which is oil revenues, and despite the fact that our economy is rentier, it has resources that are constantly being spent and it is considered sustainable for life, even if there are risks.” For the future, as it is dependent on oil prices, but the oil sector leads to cohesion in the economy in any way.”

He added that “the accounts of the Central Bank are strong at the present time and began to rise, and the efficiency indicators are also efficient,” noting that “the reduction in the exchange rate of the dinar has affected the economic situation, since most of the materials are imported due to the cessation of industry and our dependence on the importer, but there are things in return, materials that have not changed and remained stable, such as services governmental”.

Saleh pointed out that “the economic situation is improving, despite it affecting some people and its need for treatment policies, which is important for how to address the poor and disadvantaged classes.”

Adviser to the Prime Minister for Economic Affairs Mazhar Muhammad Salih revealed, on Thursday, July 29, 2021, an expected improvement in the vocabulary of the ration card in terms of quantity, quality of materials and the regularity of their distribution, calling at the same time, Parliament to the need to legislate the law of partnership between the private and public sectors to contribute to moving the wheel of the economy.

Saleh revealed a new policy for the government regarding the ration card.

Saleh said, in a statement to the Obelisk: The trend will be to improve the quality and regularity of the card, in order to touch the poor classes as much as possible, and this matter, if it is achieved, will give great hope. 

And Saleh indicated that there is work to make the card regular and of good quality and affects the poor classes, as well as work to expand social welfare and the ministry should reflect its studies on cash assistance.

 In addition, Mazhar Muhammad Salih called on Parliament to legislate a law on partnership between the private and public sectors for its contribution to moving the wheel of the economy.

Saleh told “The Obelisk” that the government is facing a legislative obstacle that is not approving the law on partnership between the private and public sectors, because there is a dispute over it in Parliament, expressing his hope that these differences will be resolved in the service of the country’s economy.


Al-Kazemi returns to Iraq: The visit culminated in laying the foundations for a permanent relationship and partnership with the United States

political| 07:53 – 29/07/2021


Baghdad – Mawazine News
, Prime Minister Mustafa Al-Kazemi and the government delegation accompanying him returned home, Thursday, after concluding an official visit to the United States of America that lasted for several days.
Upon his return, Al-Kazemi was received by a number of ministers, heads of bodies, and representatives of social activities.
Al-Kazemi described the visit, as “it culminated in the achievement of the organization, and the establishment of the rules of permanent relationship and partnership with the United States of America, in various fields, the most important of which are security, economy, health, education, culture, energy, environment, investment and the rest of the constructive bilateral cooperation.”
Al-Kazemi confirmed what was agreed upon that no US combat forces would be present in Iraq on December 31, 2021.
He added that Iraq is continuing its quest to provide decent opportunities for our people, and to find new beginnings for everything that contributes to serving the citizens.
He expressed his thanks and appreciation to the Iraqi national political forces; For its support of the government’s efforts in the negotiations, and its support for the outcomes that have been reached.
Al-Kazemi indicated the pride of the Iraqi government and people in what was achieved in favor of preserving the Mesopotamian heritage by recovering 17,000 artifacts, which were received from the United States of America, and returned with the delegation on the same plane.
The Prime Minister reiterated his confidence in the contribution of the beloved Iraqi people in the elections of October 10, 2021, indicating that the boycott will not serve anyone and that we have serious work to conduct the elections. Ended 29 / h

As compensation for the invasion of Iraq, the United Nations pays $600 million to Kuwait

163 translated reports تقارير 2021/07/29 13:40
Baghdad today – translation
A United Nations committee paid $600 million to the Kuwait National Oil Company as compensation for Iraq’s invasion and occupation of Kuwait three decades ago .
In a report published by the Economic Times and translated by (Baghdad Today), the commission said it had “paid so far $51.3 billion since approving 1.5 million claims related to the invasion of governments and international organizations in 2005.”
The KPC succeeded in claiming $14.7 billion in compensation for losses in oil production and sales caused by damage to the country’s oil fields during the 1990-1991 Iraqi invasion and occupation that resulted in the Gulf War.
According to a UN Security Council resolution issued in 1991, Iraq allocated a percentage of its oil export revenues to the Compensation Fund, and the committee said that this share is currently limited to only 3% .
For the current payment rate, the last installment is expected to be paid within a year

Security media announces the fall of a Katyusha rocket on a residential area in the capital, Baghdad

securitybreakingKatyusha missilesecurity brilliance 2021-07-29 06:19A-AA+

Shafaq News/ On Thursday, the Security Media Cell reported opening an investigation into the incident of a Katyusha rocket falling behind Al-Rahman Mosque in Al-Mansour area in Baghdad.

The cell stated in a statement that the accident did not result in any significant losses, and it was found that the missile was launched at 4.20 am from the Palestine Street area.

She said that this illegal act poses a threat to the citizens within the safe residential neighborhoods.

A security source had reported earlier today, that two Katyusha rockets landed near the US embassy in the capital, Baghdad, without causing any casualties.

The Central Bank launches an initiative to support renewable energy projects

Central Bank of Iraq buildingbanks

Economy News – Baghdad

The Central Bank of Iraq announced, on Thursday, the launch of an initiative to use renewable energy sources to reduce carbon emissions.

The Central Bank said in a statement, received by Al-Iqtisad News, that “in cooperation with the Supreme Committee for Lending in the Council of Ministers, he launched an initiative to switch to the use of renewable energy sources to reduce carbon emissions and improve the environment, with the participation of environmental experts and energy generated from renewable sources, in order to set the executive framework for financing such as These development projects, whether at the level of individuals or investors in the field of clean energy.” 

The Central Bank of Iraq, in cooperation with the concerned authorities, will support “the preparation of controls that oblige the owners of residential investment projects to rely on renewable sources in securing part of the electric energy as a condition for its inclusion in the Central Bank’s initiative to finance housing projects.”

The Bank and the Higher Committee for Lending expressed their “aspiration that 2022 will be a national year for renewable energy in Iraq.”

The bank decided, according to the statement, “to start installing electricity generation systems from solar energy on a number of its buildings in Baghdad and its branches in Basra, Mosul and Erbil to secure part of its electricity needs.”

Al-Kazemi leaves Washington for Baghdad: We hope for continuous communication with Biden



Baghdad / Al-Mawrid News

Prime Minister Mustafa Al-Kadhimi concluded his visit to the United States of America, while reaffirming the absence of combat forces by the end of the year. 

Al-Kazemi wrote on his personal account on Twitter, saying, “We left Washington for our beloved Baghdad after a successful visit, economic, political and cultural understandings, and an agreement to transfer the security relationship to training and advice, and the absence of combat forces by the end of the year.” 

“We look forward to strengthening social and political solidarity to serve our people, and we hope for continuous communication with US President Joe Biden to devote the values of cooperation and dialogue,” he added.