Iraqi News Highlights and Points to Ponder Saturday Afternoon 12-9-23


Iraqi News Highlights and Points to Ponder Saturday Afternoon 12-9-23

Iraq Rejects Attempts To Target “Fossil Fuels” At The Climate Conference

Today 09:50  Information/Baghdad..  Iraq announced its rejection of attempts to target fossil fuels and violate the rights of producing countries and their people in the difficult negotiations taking place at the COP28 climate conference in Dubai.

 Oil Ministry spokesman Assem Jihad told Agence France-Presse, “Oil Minister Hayyan Abdul-Ghani assigned the Iraqi delegation participating in the Dubai conference to ensure that the wording of the final statement emphasizes the cooperation of the countries of the world in reducing emissions in order to preserve the environment and climate.”

 Asim Jihad pointed out that the Minister of Oil “rejected attempts to target fossil fuels and violate the rights of producing countries and their people,” highlighting Iraq’s efforts to reduce gas emissions. The

 Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) had “urgently” urged the organization’s members and partners to “Preemptive rejection” of any agreement targeting fossil fuels in the climate negotiations at the COP28 conference held in Dubai. Ended/25  LINK

Will Iraq Be Harmed By The Decision To Reduce Oil Production?

Information/private..  Today, Saturday, the economic expert, Diaa Al-Mohsen, explained the reason for the decision to reduce voluntary production by OPEC Plus, while specifying the price of a barrel that OPEC prefers. He referred to Iraq’s position.

Al-Mohsen said, in an interview with the Maalouma Agency, that “the decision to voluntarily reduce oil production exported from Iraq came in response to the decisions of OPEC Plus,” indicating that “the decision is good for the country, because when OPEC decides to reduce oil production, this will lead to a decrease in supply.” in global markets.”

He explains, “This issue is very natural. The supply must be less than the demand, and this is consistent with the policy of OPEC Plus,” indicating that the latter “does not want oil prices to fall below $90.”

The economic expert continues, “This situation can only happen by reducing supply in global markets,” adding, “Whenever OPEC decides to reduce oil production, the price of a barrel of oil will rise in global markets.”

Earlier, 7 oil-producing countries within the “OPEC Plus” alliance took decisions to voluntarily reduce their production, by up to 1.571 million barrels per day, from the beginning of next May until the end of the year 2023. The decision announced by each country included it separately, in addition to… Saudi Arabia, Russia, the Emirates and Kuwait, as well as Iraq.

In turn, Iraq announced, thr ough the Minister of Oil, a voluntary reduction in production by 211 thousand barrels per day from next month until the end of 2023. LINK  

A Scandal That Shakes Iraq…The Loss Of 35 Trillion Dinars In Print

Posted On2023-12-09 By Sotaliraq   A member of the Finance Committee in the Iraqi Parliament, Muhammad Al-Nouri, revealed the loss of 35 trillion Iraqi dinars in print, while noting that the volume of smuggling reached 60-70% and cannot be controlled.

The disappearance of 35 trillion dinars.

Al-Nouri said yesterday, Thursday, to Al-Sumaria satellite channel, “More than 35 trillion printed Iraqi dinars do not exist inside Iraq, knowing that there are only two neighboring countries that deal with Iraq in dinars, and more than 3 months ago, 4 trillion Iraqi dinars were entered from the category of (( 50), pointing out that “Finance and the Central Bank raised the issue of bonds to control the issue of the Iraqi dinar, but they only collected one trillion.”

He added, “The control of the parties and the existing quotas within the financial system is what established the failure of the Iraqi economy, and there is no country so far that relies on paper accounts and has no final accounts in banks, no electronic automation, and more than 73 private banks except Iraq,” noting that “the system “The financial system must be independent in order to achieve economic balance within the country.”

Accusations against the Central Bank.

He also added that “government banks are shackled by the Ministry of Finance and the Prime Minister,” indicating that “the Central Bank is a failure and does not aim for real management, and the control of some parties over its decisions affected the price of the dollar, and its biggest mistake was pricing the dollar in the budget at 132 thousand versus The $100 is because Iraq lost more than 9 trillion, and the difference between it and the market became high.”

While he pointed out that the one responsible for monetary policy in Iraq is “the American Federal Reserve, and it does not give money except with American approval, and whoever imagines that Iraq is in economic control is dreaming.”

The spread of drugs

also indicated that “Iraq has become a source of narcotic drugs under the framework government, and the volume of smuggling has reached 60-70%, and more than 20 outlets in northern Iraq are not controlled, and the import of (cigarettes, gold, mobile phones, and alcohol) does not benefit Iraq due to this matter.” Pointing out that “the volume of dollars actually sold inside Iraq does not cover the country’s needs due to smuggling, and these operations must be limited by controlling open ports and some ports controlled by parties.”

Projects stopped.

He pointed out that “the loss of the Iraqi dinar caused a lot of damage and as a result many small projects and construction advances stopped,” stressing that “the Iraqi economy is completely linked to the United States and we were receiving 3 payments of the dollar now only one, and the US Federal Reserve’s sanctions caused an explosion in the price exchange, and deals with us according to the missiles that fall on the Ain al-Assad base and the embassy.”

Although corruption is widespread in all state institutions in Iraq, the trials that take place in such cases are few, and if they do occur, they target minor officials.  LINK

US Department Of Justice: We Will Help Iraq Recover Its Smuggled Money

December 9, 2023   Baghdad/Al-Masala Event: The head of the Federal Integrity Commission, Haider Hanoun, handed over to the American side a file containing requests for legal assistance and a list of defendants and convicts residing within American territory who are wanted by the Iraqi side.

A statement from the commission received by Al-Masalla stated that this came during a meeting with the head of the commission with integrity experts at the US Department of Justice, where the two sides discussed forming committees between the two parties to study the files through joint experts from the commission and the American side on joint issues, and then referring the case to the judiciary if the committee is convinced. Convicting the accused in the case.

Hanoun expressed his optimism for concluding a memorandum of understanding with the US Department of Justice in order to exchange information and experiences for the purpose of strengthening and documenting, technical cooperation to prevent and combat corruption, enhance expertise, and hold training courses at the headquarters of the Iraqi Anti-Corruption Academy for members of the Iraqi regulatory agencies and employees of counterpart agencies in the countries surrounding Iraq. .

Integrity experts at the US Department of Justice indicated their awareness of the danger of corruption to state institutions in Iraq and its causing problems in the security and economic fields and the level of service provision to the people, expressing their readiness to work with the State Department to complete the draft memorandum with the Iraqi side to provide support and exchange experiences, stressing that their country will cooperate with Iraq to recover its smuggled money.    

A List Of The Exchange Rates Of The Dollar Against The Iraqi Dinar Today.. Recorded An Increase

Economy  2023-12-09 |5,510 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Saturday, December 9, 2023.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording $157,700 for every $100. As for the selling prices in banking shops in the local markets in…BaghdadIt rose as the selling price reached 158,750 dinars, while the purchasing price reached 156,750 dinars per 100 dollars.

On February 7, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

For about a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system “SWIFT,” the dollar exchange rates in Iraq stability despite the attempts of the government and the Central Bank to control the exchange rate in parallel markets. LINK

Regional Mediation Between Baghdad And Erbil To Resolve The “Financial Crisis”

December 9, 2023  Baghdad/Al-Masala Al-Hadath: Kurdistan Democratic Party member Rebin Salam revealed, on Saturday, international and regional mediations between the federal government and the Kurdistan Regional Government.

Salam said, “International mediations succeeded earlier in resolving many crises between Baghdad and Erbil in various fields.”

He added, “The ambassadors and consuls of major countries and even the United Nations envoy always play a prominent role in solving complex problems between the federal government and the regional government, the most important of which are oil and gas files, salaries, and others.”

Salam pointed out that “the invitation of the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, to a meeting of ambassadors and consuls falls under this premise, with the aim of finding a solution to the problem of salaries and the financial crisis and not approving the Kurdistan region’s share of the budget.”

Provoking Points to Ponder on Exaggeration:

Perfectly truthful men of vivid imagination and great force of sentiment often feel so warmly, and express themselves so strongly, as to give what they say a disagreeable air of exaggeration and almost falsehood — J F Boyes

Exaggerated language employed on trivial occasions spoils that simplicity and singleness of mind so necessary to a right judgment of ourselves and others  – Those who exaggerate in their statements belittle themselves — C Simmons 

Some men can never state an ordinary fact in ordinary terms — All their geese are swans, till you see the birds — J B Owen

There is no strength in exaggeration; even the truth is weakened by being expressed too strongly