Bondlady’s Corner

Iraqi News Highlights Tuesday Evening 1-17-23

Tlm724 Administrator Bondlady’s Corner

The International Monetary Fund Sets The Date For The Global Economic Recovery

Arab and international   Economy News / Baghdad  Kristalina Georgieva, Managing Director of the International Monetary Fund, predicted in an interview with CNBC at the World Economic Forum held in Davos, Switzerland today, Tuesday; The global economy will recover in 2024, despite its expectations of a slowdown in global economic growth in 2023.

In this context, the International Monetary Fund official, Georgieva, indicated; That it lowered its forecast for economic growth for the year 2022 by about 1%, and stated that economic growth is likely to reach its lowest levels in 2023, and Georgieva also expressed her expectation that the global economy will finally rise in 2024.

It is noteworthy that the head of the International Monetary Fund commented earlier that the sharp divergence in the performance of the major global economies may cost the global economy as a whole about 7% of GDP.

The International Monetary Fund also indicated that losses may exceed those expectations, ranging from 8% to 12% of GDP for some countries, if technology variation is also taken into account.

Economists added that even if this disparity in economic performance between the countries is limited, it may contribute to a reduction of about 0.2% of global gross domestic product. Despite this, the Primary Monetary Fund stressed that there is an urgent need for more work to estimate the costs on the monetary system. More precisely, the global financial safety net.

The Director-General of the International Monetary Fund had previously stated; That it is not likely to reduce the previous global growth forecast of 2.7% for the year 2023 in the next report of the International Monetary Fund, and Georgieva expected that the global economy would reach its lowest levels by the end of 2023 or the beginning of 2024, and she continued that the greatest danger lies in the Russian-Ukrainian war and social unrest.

However, the Managing Director of the International Monetary Fund stated that inflation is still entrenched, so central banks must continue to work to achieve price stability, and commented on the US economy; She said that in the event of an economic recession, it would be moderate, and with regard to China’s economy, Georgieva said that China should become a contributor to the global economy by mid-2023.  Views 25  Added 01/17/2023 – 5:24 PM Updated 01/17/2023 – 6:13 PM

Saudi Arabia announces the readiness of its companies to invest in Iraq

Money and business   Economy News / Baghdad   Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, confirmed today, Tuesday, that Iraq is seeking 25 Gulf investments as an occasion for the gathering of Gulf brothers in Iraq.

The ministry stated, in a statement, that “Hussein met with the Saudi Foreign Minister, Prince Faisal bin Farhan Al Saud, on the sidelines of the Davos World Economic Forum meetings.”

The statement added, “The meeting discussed bilateral relations between the two brotherly countries, in addition to discussing the regional situation in the Gulf region and the Middle East.”

The minister began the meeting by “expressing the depth of relations between Iraq and the Kingdom of Saudi Arabia, stressing Iraq’s endeavor to strengthen Gulf relations in general and Iraqi-Saudi relations in particular, because of their strategic importance for Iraq.”

He explained, “Iraq seeks to invest in non-traditional diplomacy in the Gulf 25, which is currently being organized in the city of Basra as an occasion that brings together the Gulf brothers in Iraq.”

For his part, the Saudi Foreign Minister expressed his thanks for “providing this opportunity for the purpose of discussing and exchanging views on Iraqi-Saudi relations and the latest current events in the region. He also expressed the Kingdom of Saudi Arabia’s support for the Iraqi government’s efforts aimed at promoting democracy and prosperity for Iraq.”

He stressed that “Iraq’s geographical location and available resources make it an important pillar in the region and enhance the role it can play regionally.”

He pointed out, “We must work to strengthen economic relations between the two countries, and that Saudi companies are ready to invest in the Iraqi economy.”

Views 102   Added 01/17/2023 – 3:56 PM   Updated 01/17/2023 – 6:15 PM

The President Of The Federal Court Stresses The Purification Of State Institutions From “The Desecration Of The Scourge Of Corruption”

Political | 02:53 – 01/17/2023   Baghdad – Mawazine News  , the President of the Federal Court, Judge Jassim Muhammad Abboud, stressed, on Tuesday, the purification of state institutions from “the defilement of the scourge of corruption and its impurities,” while the head of the Integrity Commission, Judge Haider Hanoun, considered that the political atmosphere and the formation of the new government are “appropriate to start real steps to combat corruption.” .

The Integrity Commission stated, in a statement received by Mawazine News, that “the head of the Federal Integrity Commission, Judge Haider Hanoun, received at the commission’s headquarters, on Tuesday, the President of the Federal Supreme Court, Judge Jassim Muhammad Abboud, and they discussed issues of integrity, preserving public money, and the supremacy of the constitution and the law.”

The President of the Federal Supreme Court stressed, according to the statement, that “the duty of the independent bodies is to work on the rule of law and protect the wealth of the people and national unity, and that the people desire a unified Iraq in which the spirit of the constitution and the law prevails,” pointing out that “Iraq possesses human energies and economic wealth and is capable of To advance and build strong and solid institutions that will take the country to the path of reconstruction and development.

And he stressed the “purification of state institutions from the filth and scourge of corruption,” calling for “the selection of administrative leaders in various state institutions according to specifications of professionalism, sincerity and high patriotic spirit, and a sense of the size and burdens of grave national responsibility while carrying out this task on which the people and the country depend on restoring confidence.” the public in state institutions.

He stressed, “the need for organized work and coordination between the oversight agencies, in order to reap the fruits of these strenuous efforts,” explaining that “corruption is of two parts, major corruption and petty corruption,” pointing out that “small corruption greatly affected the citizen’s confidence in the public employee after which he provides a service.” In general, as for grand corruption, he described it as a very great danger, and fighting it requires political, economic and social strategies, as it contributed greatly to obstructing state building and hampered investment and reconstruction operations.

For his part, the head of the Integrity Commission, Judge Haidar Hanoun, noted “the importance of the Federal Supreme Court and the roles it plays in preserving the democratic system by monitoring the constitutionality of laws and regulations in force, interpreting the provisions of the constitution, and adjudicating issues that arise from the application of federal laws,” praising “the role of the judiciary that The commission’s investigators work under his supervision, and there is great cooperation and coordination with the commission,” stressing that “the continuation of this cooperation and coordination is sufficient to raise the levels of anti-corruption.”

He added, “The political atmosphere and the formation of the new government are appropriate to start real steps to combat corruption, especially since the government’s approach has made combating corruption and stopping the waste of public money a priority by building effective tools to combat it and put an end to it,” noting that “the commission is working to educate the people.”

With the seriousness of this scourge and the need for everyone to unite in confronting it and prosecuting its perpetrators,” he reiterated that “the Commission’s work is carried out in accordance with the laws in force, with great care and precaution in dealing with the accused during their investigation and respect for human rights.”

Electricity: Contracts With US Companies And Loans To Establish 400 Power Stations

Economie| 01:16 – 01/17/2023   Baghdad – Mawazine News   The Ministry of Electricity announced, on Tuesday, the existence of loans to establish 400 stations, while confirming its contracts with American companies to implement energy projects with high specifications.

Electricity Minister Ziyad Ali Fadel said, “The ministry has discussions and contracts with General Electric and other American companies,” noting that “these solid companies will contribute to the implementation of projects with high specifications to ensure the stability of the stations for many years.”

He added, “The first phase of the contracts signed in 2019 and 2020 with Siemens has been fully completed within the roadmap,” noting that “the first phase is especially in the field of energy transmission, as we were able to equip and operate more than 14 stations throughout the governorates of Iraq.”

Fadel continued, in an interview with the official news agency, which was followed by Mawazine News, that “the ministry has dialogues to maintain and rehabilitate the generating stations manufactured by the Siemens company,” noting that “there are loans to establish 400 stations with the same company.” Ended


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