TNT – “Tidbits From TNT” Monday 6-10-2024

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Tishwash:  Politician: American forces will remain in the military bases, with only their description changing

Political analyst Qasim Balshan said on Monday that American forces will not leave Iraqi territory and will remain in the camps while changing the capacity in which they are present inside Iraq.

Balshan told the Maalouma Agency, “There is no actual move to end the presence of American forces in military bases, and what will happen is to change the capacity in which these forces are present.”

He added, “The Sudanese visit to Washington did not involve an agreement with the American administration to withdraw its forces from Iraq, as there is no official request submitted by the Iraqi government to its American counterpart to withdraw its forces from military bases inside Iraq. “

He promised, “The talk about ending the American military presence will not be implemented on the ground, since the government did not approach the American administration in this regard.”    link

CandyKisses: China displaces European companies from Iraq’s energy sector

The Iraqi government is setting increasing the country’s oil reserves to more than 160 billion barrels, a strategic goal for the next stage, on a strong path to support its steps in terms of ongoing economic reforms, and support its ability to achieve sustainable development and improve its economic reality.

Iraq has high hopes for its crude oil exports, especially with the formation of more than 90 percent of the Iraqi budget revenues, which prompted it to launch a set of projects to increase production and open the way for investments in the field of oil and gas field exploration.

In this context, Chinese companies have emerged as a major player in the oil investment arena in Iraq, in contrast to the absence of American and European companies, through the acquisition of many new investments by a number of companies to explore oil and gas fields in Iraq, as part of the licensing round launched by the Ministry of Oil to develop the oil and gas sector in the country

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CandyKisses: Saudi Arabia and America are putting the final touches to an unprecedented alliance. Surprise details revealed

Baghdad today – follow-up

American and Saudi officials said today, Sunday (June 9, 2024), that the administration of President Joe Biden is close to finalizing an unprecedented defense agreement with the Kingdom of Saudi Arabia, according to the American Wall Street Journal.

The newspaper reported that the Biden administration is about to finalize a treaty with Saudi Arabia, under which Washington commits to helping defend the Kingdom as part of a deal aimed at advancing diplomatic relations between Riyadh and Israel (normalization).

The potential deal, which has been widely debated between US and other officials for weeks, is part of a broader package that will include a civilian nuclear deal between Washington and Riyadh and steps toward Palestinian statehood and an end to the war in Gaza.

The newspaper quoted US and Saudi officials as saying that the draft treaty was modeled after the joint security agreement between the United States and Japan.

The draft treaty would give Washington the possibility to use Saudi territory and the kingdom’s airspace to protect US interests and partners in the region in exchange for a US commitment to help defend Saudi Arabia in the event of an attack.

It quoted officials as saying the treaty was also aimed at strengthening ties between Riyadh and Washington by preventing China from building bases in the kingdom or continuing security cooperation with Riyadh.

Approval of the treaty, which the Wall Street Journal said would be called the Strategic Alliance Agreement, would require a two-thirds majority vote in the US Senate in favor, something that would be difficult to achieve unless the agreement provided for normalization of relations between Israel and the kingdom.

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Tishwash:  International Monetary Fund mission: We expect growth in the Iraqi economy

The head of the International Monetary Fund mission in Iraq, Dr. Ghazi Shubaikat: There has been growth in the Iraqi economy in light of the reforms adopted by the government, at a time when he stressed that Iraq must work to achieve financial sustainability while having the elements to achieve this goal.

Al-Sabah met with the head of the mission and asked him the following questions:

*What does the Fund expect for the future of the Iraqi economy?
– The Fund expects growth in the Iraqi macroeconomy, in conjunction with the reforms adopted by the government with the aim of creating realistic solutions to all economic problems, and we sensed seriousness from the Iraqi government in the field of achieving economic reforms that strengthen the relationship with the Fund, and this encourages the strengthening of cooperation in a way that serves the Iraqi economy, which is suffering. Chronic problems.
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How does the Fund support the Iraqi economy and what is the source of support?
The International Monetary Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises affecting the oil market, which Iraq relies on to cover its annual expenses, especially since a country like Iraq needs large revenues to cover the needs of all sectors, and this needs to create Real financial sustainability through reviving the productive and service sectors and bringing the capital cycle into a local context.

*What do you advise regarding reducing unemployment rates?
Iraq must focus on the labor market and create advantages in the private sector equivalent to what it obtains in the public sector, so that employment can be directed to the private sector, which must be activated within limits commensurate with Iraq’s economic capabilities.

*What does the Iraqi labor market need?
It is necessary to work on training and qualifying human resources in all specializations in light of the presence of human wealth that can be employed in a way that serves Iraq, with the need to create skilled labor in all sectors and in a way that is consistent with the government’s reform policy.

*In your opinion, where are the strengths in the economy?
– The private sector represents an economic force that can overcome challenges and gradually advance the national economy. It addresses many problems, especially since Iraq can achieve a diversity of revenues from sectors, some of which are distinguished by achieving sustainable revenues.

*What about the financial sector?
Competitiveness in the financial sector can create a solid financial sector with advanced services and safe and transparent money paths that support the economy and the stages of development it seeks and works to achieve, and reaches the most important goals of financial sustainability.   link