The World Bank Calls On Rich Countries To Quickly Restructure The Debts Of Poor Countries

On 10/31/2021 – 12:52 AM  70

The World Bank Called On The Leaders Of The Group Of Twenty Rich Countries To Expedite Work On Restructuring The Debts Of Poor Countries, Including Freezing Debt Payments And Obligating Lenders To Participate In It.

David Malpass, President Of The World Bank, Told The Leaders Of The Group Of Twenty Meeting In Rome That The Progress Made In Addressing The Debt Problem Of The Poorest Countries Has Now Stopped, Calling For The Need For Urgent Efforts To Resume This Process.

البنك الدولي يطالب الدول الغنية بسرعة إعادة هيكلة ديون البلدان الفقيرة


The coordinating framework announces its rejection of the manual counting procedures.. It launches an invitation to the judicial body

  •  Time: 10/30/2021 21:47:10 
  •  Reading: 403 times 
The coordinating framework announces its rejection of the manual counting procedures.. It launches an invitation to the judicial body

{Politics: Al Furat News} The coordinating framework announced, on Saturday evening, its rejection of the procedures of the Electoral Commission regarding the counting of manual counting. 

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In a statement, {Al-Furat News} received a copy of it, “In order to preserve the citizens’ votes and not to waste them, and in continuation of our position in following up on legal procedures in considering appeals and conducting manual counting and sorting on the basis of it, we noted that the procedures set by the Commission for manual counting and sorting have emptied the process from Its content is through the adoption of electronic standards and not visual standards in manual counting.”

The drafting framework promised, that “contrary to the Elections Law, which confirmed the adoption of the result of manual counting when appealing and not electronic standards, and with the Commission announcing the presence of more than 700,000 unread ballot papers, the Commission announced the result of conformity 100% with the presence of thousands of papers that were not read by the device It is a deliberate continuation of the will of the voters, and therefore we:
1- We affirm our rejection of these measures and their results
2- We demand the judicial authority to objectively consider all the appeals submitted and to stop this deliberate waste of hundreds of thousands of votes and to conduct a comprehensive manual counting and counting according to objective criteria.

Digital transformation in the central bank and the banking sector

Economic and banking advisor Samir Al-NusairiArticlesSamir Al-Nusairi*

With determination and high confidence in the ability of the Iraqi financial and technical cadres to overcome the challenges of the technical gap that Iraq suffered due to the repercussions of the siege, wars and instability during the information revolution period. 
The Central Bank, banks and specialized technical companies were able to overcome the challenges that stand in the way of the digital transformation of the banking sector and stand in the right direction in the darkest economic and security conditions that our country has experienced during the past years and draw a sound road map to catch up with technical developments in the countries of the world. 
The observer of the situation in Iraq during the years (2016-2021) notes the extent of belief in the Iraqi capabilities and competencies to bring about change and bridge the technical gap between us and the developed world. This is evident in the important achievements that have been achieved, as follows:
1 – The methodology adopted by the Central Bank and implemented by banks and electronic payment companies always focuses on working under a sound legislative, regulatory and legal umbrella, as well as strengthening the concepts of governance and global standards with regard to information technology and financial technologies.

2‐ Issuance of the electronic money payment system No. 3 of 2014 and the establishment of the National Payments Council, governance controls, institutional management of information and communications technology, and legal regulations and instructions that regulate the work of banks and electronic payment service providers. 
3- The central bank plays a pivotal role in establishing advanced infrastructure, pursuing the latest global technologies, and developing the bank’s financial and banking systems, payment systems, and advanced communication networks according to the latest technologies. 
4‐ The central bank, banks, and electronic payment companies possess advanced payment systems as well as retail payment structures, and the national exchange was one of its most important parts. Up to 12 million credit cards were issued and approximately 1,300 ATMs were distributed  
 and more than 5,000 points of sale.

5‐ Granting work licenses to many electronic payment service providers (card issuers, collectors, mobile payment companies, bill presenters, and payment gateways through various channels). 
6- Extensive interest in implementing the first objective of the Bank’s first strategy (2019-2020) and second (2021-2023), 
 which is to achieve monetary and financial stability and enhance digital transformation in the banking sector through a sound financial system with interest in achieving financial inclusion and reducing risks, as well as adopting a localization project Employee salaries, which increased from 11% to 23%, and expected to achieve the target percentage in 2023.

 It is clear from the above achievements that the Central Bank, the banking sector and electronic payment companies have overcome the challenges of the technical gap due to the siege, occupation and terrorism, and it is moving today at a steady pace to achieve digital transformation in the comprehensive financial and banking sector towards achieving financial stability and moving from the cash society to the cashless society, which is also one of the curriculum objectives Government reform in the white paper for the transition to the digital economy.

Future plans for digital transformation

 1- Enhancing research and development activities for the manufacture of new banking products that are spread across governorates, districts, districts, and small cities. 
2- Improving the performance of banks through new inputs based on modern technologies, as well as the development of patterns and policies that adopt modern banking techniques that the countries of the developed world preceded us to. 
3- Capacity building and qualification of digital transformation leaders and human resources in the field of modern banking sciences, technology and innovation with the aim of achieving sustainable development goals. 
4- Develop plans and programs that aim to transform society into a society that deals with criticism, into a non-cash society and into an information society, so that plans and strategies for economic and social development are produced while working to achieve sustainable development goals. 
5- Preparing national policies and strategies consistent with the plans of the monetary authority in management, supervision and control, and in coordination with information and communication technology.

* Economic and banking consultant

The global economy and Iran in the first talks of the G20 summit in Rome

G20 leaders meeting in RomeArabic and international

Economy News – Baghdad

A White House official said that the first session of the leaders participating in the “Group of Twenty” summit, which will be held today, Saturday, in the Italian capital, Rome, will cover issues of the global economy and health, and on the sidelines of it, President Joe Biden will meet with European heads of state to discuss the Iran file.

The official added, during a press briefing, that the leaders participating in the plenary session will officially announce support for the decision reached regarding the minimum tax on giant companies at 15%, and they will announce their commitment to implement this in 2023, according to the text of the agreement.

The official pointed out that Biden will raise the issue of the imbalance in supply and demand in global energy markets in order to promote economic recovery after the Corona pandemic crisis, explaining that “energy demand has returned to pre-pandemic levels, while supply has not returned yet.”

When asked if OPEC would be notified, he said: “No, we are not a party to OPEC, and certainly we will not interfere in the details of what is happening in the bloc, but we have a voice and we intend to use it on an issue that affects the global economy as much as energy prices.”

He explained that this will happen “at the G20 summit, where there are consumers and suppliers, and we want to use our voice to stress the importance of a balance and stability in the oil and energy markets.”

He said that the IMF expected a growth of 6% for the United States, which would be the largest in 40 years.

On Saturday and Sunday, the Italian capital, Rome, will host the “Group of Twenty” summit, with the participation of leaders of countries that represent 80% of the global economy, 60% of the world’s population and an estimated 80% of carbon emissions.

The climate change crisis, the fight against the Corona pandemic and the economic recovery will be at the top of the discussions in the meetings, which will be in attendance for the first time since the start of the Corona pandemic. The summit will be held on the eve of the COP26 international climate conference, which will be held in Glasgow, Scotland.

According to “Foreign Policy” magazine, the “G20 Summit” is expected to witness discussions on Iran, seeking to solve supply chain problems that have threatened the global economic recovery, as well as agreeing by group leaders to a minimum global corporate tax rate of 15%, which The official at the White House confirmed it.

The group is also likely to extend a program to help the poorest countries pay their debts.

US President Joe Biden, Brazilian President Jair Bolsonaro, Indian Prime Minister Narendra Modi and British Prime Minister Boris Johnson will be present at the summit, while Russian President Vladimir Putin and Chinese President Xi Jinping will participate via video technology.

This will be the last G-20 summit that German Chancellor Angela Merkel attends before stepping down, accompanied by her potential Social Democrat successor Olaf Scholz, the outgoing finance minister in the outgoing government.

Climate change priority

According to a draft statement carried by “Reuters”, the leaders of the “Group of Twenty” will pledge to establish a global council for health and finance, and to address climate change, in addition to fighting “trade protectionism.”

The leaders will declare their commitment to address the “existential risks of climate change” and affirm their recognition that immediate action is required to ensure the goal of “holding global warming to 1.5°C” is achieved.

The leaders of the “G20” will renew their commitment to “phasing out government subsidies for fossil fuels and rationalizing their use by 2025.”

They will also stress the need for developed countries to fulfill their common commitments, to mobilize $100 billion annually until 2025 for “climate finance” and to help developing countries deal with climate change issues.

The leaders will pledge to work on “transforming 30% of the land, oceans and seas into reserves or conservation areas by 2030, according to the specific conditions of each country.”

Fixing the “imperial collapse”

Just hours before the summit began, British Prime Minister Boris Johnson urged world leaders to step up their response to climate change, saying global civilization could collapse as quickly as the ancient Roman Empire unless more was done. 

Johnson told reporters Friday, as he headed to Rome for the summit, that future generations risk hunger, conflict and mass migration if progress is not made in tackling climate change, an idea also contained in a US intelligence and Pentagon report a week ago.

“There is absolutely no doubt that this is a reality we have to face,” Johnson added. He warned that living conditions could deteriorate rapidly without a mass change of course.

“You have seen it with the decline and fall of the Roman Empire, and I am sorry to say that this applies to what is happening today,” he continued. 

pressure team 

Canada and the Netherlands are also heading to the G20 summit and COP26 with a joint strategy aimed at putting pressure on countries to intensify their efforts to confront climate change, according to Canadian Prime Minister Justin Trudeau after meeting his Dutch counterpart Mark Rutte in The Hague on Friday. 

“It was a meeting between two like-minded friends that allowed us to strategize how we can continue to apply pressure to ensure that the world steps up in the face of these enormous challenges,” Trudeau told a news conference.

And Abizaid Trudeau: “We are working with allies who share our thoughts, including Germany and other countries, to ensure that the world very quickly meets its obligation (allocation) $ 100 billion,” to help developing countries in the fight against climate change.

This goal was supposed to be achieved last year, and the inability of the rich countries to achieve it has become a thorny and critical point.

For his part, Rutte said that he is “very optimistic” about the COP26 conference, in which neither Russian President Vladimir Putin nor his Chinese counterpart Xi Jinping will attend, while Russia and China are among the largest “polluting” countries. 

“I am very optimistic. Our teams are working tonight and tomorrow” on the contribution that Canada and the Netherlands will make towards driving the success of the climate conference, said Rutte. Pointing out that “it is still possible to achieve a good result. But if we do not work hard, we will face problems.”

“Roma Road”

After the G20 summit, many leaders, including Biden, will go directly to Scotland for the UN climate summit (Cop 26), which is seen as important to addressing the threat of rising temperatures and its consequences, such as sea level rise and storms. severe floods, worse floods in some areas, and worse droughts in others.

“On the eve of the UN Climate Conference in Glasgow, all the paths to success pass through Rome,” UN Secretary-General Antonio Guterres told reporters on Friday.

After re-sorting the results of 3 governorates..the Commission, all indications show that the results are identical

2021.10.30 – 21:12
After re-sorting the results of 3 governorates..the Commission, all indications show that the results are identical

Baghdad – people  

The Electoral Commission announced, on Saturday, the reopening of appeals against the results, and while it stipulated a single case related only to the availability of the first plaintiffs who do not carry a recommendation for counting and sorting, she confirmed that she felt a state of satisfaction with the entities’ agents, candidates and observers over the course of the ongoing process in Baghdad.  

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Hassan Salman, Director of the Media and Mass Communication Department at the Electoral Commission, told the official channel, (October 30, 2021), that “since the Electoral Commission began counting and sorting the votes of the stations whose results are contested, it began according to a specific timetable for the governorates, and this day ended the process with 348 stations besides Karkh, all indications show that the results are identical.  

He added, “Through our daily presence in the counting and sorting hall, we saw a state of satisfaction from party agents, candidates, and local and international observers with the process and its results, and things began to be more convinced for those who complained about the validity of the results.” 
He pointed out that “tomorrow, the counting and sorting process will take place for the stations whose results are contested in 6 governorates, and there are technical aspects that will be taken into account, and it is not possible to predict the date of completion.”  

He stressed that “the Commission has opened the door to submitting appeals again for the first claims that were referred to the judicial body that does not carry a recommendation for counting and sorting only, which gives the opportunity for the complainants to submit their papers.”

End of manual counting and sorting in Karkh

political| 03:42 – 10/30/2021


Baghdad – Mawazine News The
Independent High Electoral Commission completed, on Saturday, the process of manual counting and sorting in the contested stations on the Karkh side of the capital, Baghdad.
The correspondent of “Mawazine News” stated, “The Commission has completed the manual counting and sorting of the contested stations on the Karkh side, which amount to 387 stations,” noting that “the results are 100 percent identical to the electronic count.” Ended 29/R77