International Monetary Fund: Gulf countries have supported developing countries with $54 billion

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Economie| 07:33 – 02/12/2023

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Follow-up – Mawazine News
The International Monetary Fund revealed that the Arab Gulf states have provided $54 billion in aid to many developing countries over the past five years.

The Fund’s Director-General, Kristalina Georgieva, said in her speech during the Seventh Public Finance Forum for Arab Countries held in Dubai today, Sunday, that the Ukrainian crisis and climate problems exacerbate the risks of food deficits in the poorest countries.

Georgieva stated that the Arab Gulf states provided $54 billion to developing countries, low national income, and countries suffering from conflicts.

And she warned that the chronic rise in unemployment rates, among young people, in developing countries, threatens social stability in the region and the world at large, expecting that the inflation rate will exceed 10%, for the fourth year in a row.

The International Monetary Fund predicted, at the end of December 2022, that oil producers in the Gulf and the Middle East will reap a trillion dollars between 2022-2026, and that the six countries of the Gulf Cooperation Council will have the largest share of the expected benefits.

Georgieva indicated that reducing oil production in accordance with the “OPEC +” agreement may lead to a decline in oil revenues, while challenges will continue in oil-importing countries, as several economies in the region are facing a rise in debt ratios compared to the gross domestic product, which is close to 90% in Some countries. Ended 29 / AD 99

 

https://www.mawazin.net/Details.aspx?jimare=219157

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PM adviser announces adoption of new principle of cooperation with US

political| 09:30 – 12/02/2023

Baghdad – Mawazine News
The Prime Minister’s Advisor for Investment Affairs, Mohammed Al-Najjar, identified on Sunday the most prominent objectives of the visit of the Iraqi delegation to Washington, while referring to talks to activate seven items that are not activated by the strategic agreement between the two countries.
Al-Najjar said in a television interview that “our visit to Washington aims to lay new foundations for cooperation with the United States,” noting that “one part of the strategic agreement between Iraq and the United States is activated, which is the security, intelligence and military part.”
He added that “the situation in Iraq has changed, and Prime Minister Mohammed Shiaa Al-Sudani sought to activate most of the parts of the agreement to be a new starting point for cooperation between the two countries.”
He continued: “Since the entry of ISIS and the exit of terrorism from Iraq, most of the talk and cooperation has been in the security and military aspect, but now Iraq has the possibility to think differently after the end of all the problems of terrorism,” stressing the need to “continue stability in Iraq, as its economy is able to grow and not be dependent on energy
He pointed out that “the Iraqi delegation currently visiting Washington is working to activate the seven inactive provisions of the strategic agreement, including two items of my responsibility, namely the economic item and the education item.”
He added that “the agreement also includes “the cultural item, the trade item and each item has a team to discuss,” explaining that the economic item relates to many aspects of cooperation with the American side.”
“The trade item is about the introduction of modern technology, as the United States has huge potential in the field of technology through the aircraft industry, agricultural field and food security, all of which are economic opportunities for American companies and for the development of our companies,” he stressed.
He stressed that “what we are negotiating now is how to find a ground for the entry of American companies to Iraq and their cooperation with our companies, whether public or private, and benefit from experience to be managed and developed,” explaining that “the obstacles that prevented the entry of these companies are in two main aspects: the first is the previously unstable security situation that we have overcome now, while the other side is the thought of the law between the two countries, which is different from each other.”
“We are seeking to stabilize some factors in a way that facilitates the contracting process in order to benefit the Iraqi people,” he noted.

https://www.mawazin.net/Details.aspx?jimare=219168

KRG says Baghdad and Erbil will resume oil talks next week

KurdistanErbilBreakingBaghdad

2023-02-12 13:01Font

Shafaq News/ A delegation from the Kurdistan Regional Government (KRG) on Sunday morning convened a meeting with Iraq’s federal oil ministry for talks on the administration of the country’s oil wealth.

KRG’s cabinet secretary, Omed Sabah, said in a statement that the visiting delegation presented to the federal side a set of proposals for the country’s new hydrocarbons bill. They also agreed to schedule a meeting for next Sunday.

Iraq’s oil ministry said that the undersecretary of distribution affairs held meetings with KRG representatives to settle differences between Baghdad and Erbil in the energy and oil files.

Shafaq.com

After adjusting large quantities.. Kurdistan Finance warns citizens against counterfeit currencies

Kurdistan WomenKurdistan RegionBreakingCounterfeit CoinsMinistry Of Finance And Economy

2023-02-12 11:49Font

Twilight News / The Ministry of Finance and Economy in the Kurdistan Region on Sunday called on citizens to beware of the counterfeit currency currently circulating.

“Recently, counterfeit currencies have increased in the markets of the Kurdistan Region, so the ministry calls on citizens to be careful and attentive when dealing with different types of currency to avoid harm,” the ministry said in a statement received by Twilight News.

The statement added that “in this context, the Central Bank of Sulaymaniyah branch held sessions for the treasury of banks to pay more attention when dealing with these currencies.”

“Courses are scheduled to be held for directorates, offices and banking companies to pay more attention than the spread and risks of these counterfeit currencies,” he added.

The statement concluded that “the security forces were able to seize large quantities of the forged Iraqi currency in the category of 25 thousand and 50 thousand dinars and the US dollar of the category of 50 dollars and 100 dollars,” noting that “taking the necessary legal measures in this regard.”

https://shafaq.com/ar/كوردســتانيات/بعد-ضبط-كميات-كبيرة-مالية-كوردستان-تحذر-المواطنين-من-العملات-المزورة

Next week.. Nechirvan Barzani participates in Munich Security Conference

Kurdistan WomenKurdistan RegionBreakingNechirvan BarzaniMunich Conference

2023-02-12 08:51Font

Twilight News / Kurdistan Region President Nechirvan Barzani participates in the 59th Munich Security Conference, which will be held on February 17-19.

According to information obtained by Shafaq News, the President of the Kurdistan Region Nechirvan Barzani will participate in the 59th Munich Security Conference, which will be held from February 17 to 19, with the participation of 45 presidents and prime ministers to discuss global political and security issues. 100 defense, foreign and internal ministers of various countries of the world will also participate in the conference, as well as dozens of leaders, prominent international figures and security and terrorism experts.

Regional President Nechirvan Barzani, French President, NATO Secretary, President of the European Union and a large US delegation comprising mostly members of Congress, as well as a Ukrainian delegation and many global delegations and global organizations and global strategic and political centers will participate.

Neither Iran nor Russia will participate in the conference, according to conference president Christoph Heusgen, who stated that Russia has no place in the conference because it has been proven to have committed war crimes in Ukraine, adding that Iran will also not participate in the conference this time for violating human rights principles, and a number of opposition figures will participate instead.

https://shafaq.com/ar/كوردســتانيات/ال-سبوع-المقبل-نيجيرفان-بارزاني-يشارك-في-م-تمر-ميونخ-لل-من

Al-Sudani quickly directs the completion of a project “linked to the entire economy of Iraq”

EconomyBreakingThe Economy Of IraqMohammed Shiaa Al-Sudani

2023-02-12 10:02Font

Twilight News / Prime Minister Mohammed Shiaa Al-Sudani chaired, on Sunday, a meeting dedicated to following up the electronic declaration and networking project, which was attended by the implementation team.

The meeting witnessed a discussion of the requirements for completing the project, and Al-Sudani directed the concerned authorities to overcome obstacles and provide all facilities for its success in financial or logistical support.

Al-Sudani described the importance of the project as it is linked to the entire economy of Iraq, stressing the need to prevent citizens and businessmen to follow the correct procedures, which prevent bribery, extortion and waste of public money, stressing the need for the process of adopting this system to be accompanied by a media campaign to raise awareness about its use and the benefits that will be achieved later

It is worth mentioning that the management of the system will be carried out through local cadres, will provide insurance for the work of border crossings and the issuance of electronic declarations, and unify customs procedures. This project relies on establishing an electronic system that overcomes human errors, prevents manipulation and fraud, and reduces money laundering and customs and tax evasion. It has already been piloted at three border crossings, and the trial will be circulated to all ports within three months.

It will convert procedures to electronic rather than paper transactions, connect government agencies supporting the work of customs, such as the ministries of trade, health, transport, agriculture, planning, the Central Bank and taxes, and enable them to exchange data easily and safely.

https://shafaq.com/ar/اقتصـاد/السوداني-يوجه-بسرعة-نجاز-مشروع-مرتبط-باقتصاد-العراق-ب-كمله

Kurdistan reveals the results of the meeting with the Federal Ministry of Oil

Twilight News / The Presidency of the Kurdistan Region’s Office revealed on Sunday the details of what happened in the meeting of the delegation of the Kurdistan Regional Government with the Federal Ministry of Oil, pointing out that the draft oil and gas law was discussed.

The head of the Regional Presidency Office, Omid Sabah, said in a statement received to Twilight News that a meeting took place in Baghdad on Sunday between the delegation of the Kurdistan Regional Government with the Ministry of Oil, adding that dialogue was held on the preparation of the draft oil and gas law.

He pointed out that the delegation submitted the proposals of the region on this draft law to the ministry, indicating that during the meeting, subsequent meetings were continued until a joint agreement was reached, and next Sunday was set as the date for the next meeting between the two sides.

The Federal Oil Ministry announced earlier on Sunday that Undersecretary for Distribution Affairs Laith Al-Shaher met with the delegation of the Kurdistan Regional Government, which included a number of officials.

According to a statement issued by the ministry today, this visit comes within a series of meetings held by the delegation of the region with officials in the Ministry of Oil to discuss and review topics of common interest, especially the outstanding problems between the center and the region for the oil and energy file.

The delegation of the Kurdistan Regional Government negotiating arrived yesterday evening in the capital Baghdad to resume dialogues with the aim of resolving differences and outstanding issues with the federal government.

https://shafaq.com/ar/كوردســتانيات/كوردستان-تكشف-نتا-ج-الاجتماع-مع-وزارة-النفط-الاتحادية

Governor of the Central Bank of Iraq: Launching a second package of facilities to support the exchange rate

the Central Bank of Iraq

 12 Feb 2023 02:19 PM

Mubasher: The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, confirmed the bank’s intention to launch the second package of facilities, which would enhance exchange rate stability, during a meeting with the delegation of the US Federal Reserve Bank and the US Treasury Department in Washington, D.C.null

The delegation of the Central Bank of Iraq met with the delegation of the US Federal Reserve Bank and the US Treasury Department in Washington, D.C., and the two parties expressed their readiness to work together to meet the challenges of working on the electronic platform for remittances and cash, according to a statement from the Central Bank of Iraq.

The meeting listened to a presentation by the Governor of the Central Bank of Iraq on the bank’s directions in achieving its most important goals to ensure general stability in prices, options and proposals in the field of accelerating, expanding and smoothing the work of the electronic platform for external transfer.

The delegation of the US Federal Reserve Bank and the US Treasury Department discussed a number of support and support mechanisms for the Central Bank of Iraq, which enhances its capabilities to deal flexibly with crises during this stage.

The US Federal Bank confirmed that the measures of the Central Bank of Iraq are in the right direction to build a sober banking sector.

The Assistant Deputy Secretary of the Treasury indicated ways to fully support the efforts of the government of Iraqi Prime Minister Mohammed Shiaa Al-Sudani in economic reform, and the readiness of the US Treasury Department to provide the required support.

https://www.mubasher.info/news/4073473/محافظ-المركزي-العراقي-إطلاق-حزمة-ثانية-من-التسهيلات-لدعم-سعر-الصرف/

The President of the Republic stresses the importance of continued consultation and coordination between the federal government and the region

political| 04:27 – 12/02/2023

Baghdad – Mawazine News
President Abdullatif Rashid stressed on Sunday the importance of continuing consultation and coordination between the federal government and the Kurdistan Regional Government to reach real understandings that lead to radical solutions to outstanding issues.

The Presidency of the Republic said in a statement received by Mawazine News, a copy of it, that “President of the Republic, Abdul Latif Jamal Rashid, received at the Baghdad Palace the delegation of the Kurdistan Region headed by the Minister of Interior of the Region, Reaper Ahmed and his accompanying delegation,” pointing out that “during the meeting, political, security and economic

The president stressed, according to the statement: “The importance of continuing consultation and coordination between the federal government and the Kurdistan Regional Government to reach real understandings leading to radical solutions to outstanding issues based on the constitution, law and the national interest of the country,” stressing that “Iraqis are waiting for important entitlements, including the approval of the budget and the oil and gas law because of their direct contact with the lives and livelihood of citizens.”

He pointed out that “the federal government and the territorial government have the will and desire to resolve issues through understanding and dialogue between the two parties.”

For his part, Reaper Ahmed stressed “the keenness of the Kurdistan Regional Government to reach understandings and radical solutions to outstanding issues with the federal government,” noting “good relations between the two sides.”

“The position and efforts of the President of the Republic in bringing views closer, and his role in solving problems between political parties and contributing to consolidating security and stability in the country.” Finished 29/m99

https://www.mawazin.net/Details.aspx?jimare=219136

Chairman of the Integrity Commission: We recovered large funds dating back to the time of the previous regime

money and business

   

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Economy News _ Baghdad

President of the Republic Abdullatif Rashid stressed on Sunday, during his meeting with the head of the Integrity Commission Haider Hanoun, the importance of enhancing joint cooperation between integrity and other institutions, while the head of the Integrity Commission pointed to the recovery of large funds dating back to the time of the previous regime.

The Information Office of the Presidency of the Republic said in a statement received by “Economy News”, that “President of the Republic, Abdullatif Jamal Rashid, received at the Palace of Baghdad, the Chairman of the Integrity Commission Haider Hanoun.”

The statement added, “During the meeting, they discussed the development of the work of the Commission to serve the application of the law. The President of the Republic referred to the important role of the Authority in detecting and combating corruption. In this regard, His Excellency explained the importance of working on a serious culture to alert to the dangers of corruption and its impact on the country’s economy

The President of the Republic stressed “the importance of enhancing joint cooperation and exchange of experiences between the Integrity Commission and other relevant state institutions to achieve integrity and transparency in its work,” stressing “support for the Commission’s efforts in the proper application of the principles approved by the Constitution and the competent laws to ensure the preservation of public funds and the closure of outlets of corruption.”

For his part, Judge Haider Hanoun praised “the support of the President of the Republic for the work of the Commission,” pointing to “the difficulties that hinder its work and ways to raise the level of its performance in order to serve the consolidation of the law in the country and secure the interests of the people, and indicated that (integrity) was able during this period

https://economy-news.net/content.php?id=32429