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IMF: Iraq’s Share Of Special Drawing Rights Amounted To More Than Two Billion Dollars
Money and business Economy News _ Baghdad The International Monetary Fund announced that Iraq’s share of the IMF’s Special Drawing Rights amounted to more than $2 billion.
The International Monetary Fund announced that Special Drawing Rights (SDRs) were effective for all 190 members, equivalent to about $650 billion, on August 23, 2021.
The Fund said in a report seen by “Economy News”, that “Iraq’s share of the Special Drawing Rights of the IMF is 1.594.700,000 billion units, equivalent to two billion and 264 million and 742 thousand dollars out of its financial share in the Fund of 0.35%,” noting that “these financial allocations It came according to what is commensurate with its current quotas in the fund.”
The fund indicated that “this allocation will benefit all members to address the long-term global need for reserves, build confidence, enhance the resilience and stability of the global economy, and will especially help the most vulnerable countries struggling to deal with the impact of the COVID-19 crisis.”
The International Monetary Fund, under its founding agreement, may distribute allocations from the Special Drawing Rights to member countries in proportion to their membership quotas, and this distribution allows each member country to obtain an international reserve asset without cost or conditions.
Views 129 Date Added 08/29/2021 https://economy-news.net/content.php?id=26127
Finance Discusses The Budget Strategy For The Years 2022-2024
Sunday 29 August 2021 15:31 | Economic Number of readings: 118 Baghdad / NINA / – The Ministry of Finance discussed the budget strategy for the years 2022-2024.
And the Finance stated in a statement that the National Iraqi News Agency / NINA / received a copy of it: “The Minister Ali Abdul-Amir Allawi chaired, today, the twentieth session meeting of the committee for preparing the strategy of the federal general budget for the medium term 2022-2024, in the presence of both the Prime Minister’s advisors and my undersecretaries.
Finance and Planning, Adviser to the Ministry of Finance, Head of the General Authority for Monitoring Federal Ministries’ Allocations, Head of the General Pension Agency, and a number of related general managers.”
The meeting discussed a number of basic topics, including setting expenditure ceilings by the Ministry of Finance within the framework of the Maronites of the year 2022, in addition to discussing the issue of public debt, determining loan ceilings, including ongoing loans, and following-up.
The meeting also witnessed the completion of the study of the mechanism for applying the proposed budget model and discussing ways to prepare and implement the federal budget for the next year according to the determinants of the current economic reality and in line with the reform orientation adopted by the Iraqi government aimed at preparing a qualitative budget that depends in essence on performance and productive programs to be followed.
In another context, the session discussed the allocations of the General Pension Agency within the next year’s budget and emphasized the support of the pension fund to ensure the provision of the best pension services to a wide segment of Iraqi society.
Allawi stressed the importance of initiating the preparation and implementation of the draft budget in accordance with the prepared strategic plans that support the reform paths that are in the interest of the national economy and giving priority to strategic projects that are implemented through development loans./ End 7 https://ninanews.com/Website/News/Details?key=924354
Integrity Reveals The Response Rates Of Senior Officials To Their Financial Receivables
Money and business Economy News – Baghdad On Sunday, the Federal Integrity Commission announced the response rates of senior officials to their financial accounts.
The authority said in a statement seen by “Al-Iqtisad News”, that “the response rate reached 100%, for the presidents of the republic, ministers and representatives, as well as the heads of the Federal Supreme Court, the president of the Supreme Judicial Council, the president of the Federal Court of Cassation and the chief prosecutor.”
She added that “the response of the two Vice-Presidents of the House of Representatives amounted to 100%, and the rate of the deputies’ response was 80.9%,” noting that “the response of members of the Council of Ministers amounted to 100%, members of the Federal Supreme Court 83.3%, and members of the Federal Court of Cassation 100%.” As for the response of the judges included in the financial disclosure statement, it amounted to 99.9%.
The authority stated that “the response of heads of bodies and entities not linked to a ministry was 87.5%, and the response rate of governors was 66.7%.”
It is noteworthy that the first amendment to the effective law of the authority No. (30 of 2011) obligated (the president and deputy prime ministers, ministers and those of their rank), as well as others who occupy one of the official positions and positions, to submit a statement on their financial liabilities.
Views 102 Date Added 08/29/2021 https://economy-news.net/content.php?id=26130
Biden: The Baghdad Summit Is Successful And Pioneering, And We Renew Our Commitment To Bilateral Relations In Accordance With The Strategic Framework Agreement
Political Sunday 29 August 2021 | 10:29 am| Number of readings: 137
US President Joe Biden said that the United States continues to stand by partner Iraq while the two countries work to achieve greater stability throughout the Middle East, stressing their commitment to strengthening bilateral relations under the Strategic Framework Agreement, this came in the context of a statement he issued about Baghdad’s hosting of the Cooperation and Partnership Conference yesterday Saturday.
The White House published a statement by Biden hours after the conclusion of the Baghdad Conference for Cooperation and Partnership, congratulating Iraq for hosting that conference and praising the latter’s historic leadership in easing tensions between neighboring countries, he said, describing the regional summit as successful and pioneering.
“This type of diplomacy is more important now than ever as we seek to ease tensions between neighboring countries and expand cooperation across the Middle East, and Iraq’s leadership in this regard is historic,” he added. Biden continued, https://aynaliraqnews.com/index.php?aa=news&id22=151195
Parliamentary Finance Announces The Launch Of Project Allocations For 11 Governorates
Money and business Economy News _ Baghdad Today, Sunday, the Parliamentary Finance Committee announced the launch of project allocations for 11 governorates, while specifying the reasons for the delay in launching them.
Committee member Majid Al-Waeli said in an interview with the Iraqi News Agency, and followed by “Economy News”, that “the delay in spending the budget for some provinces occurred two months ago, but a month ago the budget was launched to 11 provinces, and the first batch of funding allocations for the provinces’ plans for ongoing projects, not new”, was made. Noting that “the governorates are keen to distribute the budget to the largest number of their administrative units.”
Al-Waeli added, “The committee has refined the reconstruction plans submitted by the governorates,” stressing that “the ongoing projects have not stopped and have not been delayed by the committee, as they were previously approved.”
He pointed out that “there is an in-depth scrutiny of the allocations and the plan for the reconstruction of new projects in addition to the many conditions,” explaining that “these projects must be fairly distributed among the administrative units in the governorates and according to the population representation, in addition to the strategic projects that serve more than one administrative unit, and this percentage is only More than 15%, in addition to many conditions, according to the water, electricity and health sectors.
He noted that “the study and audit of new projects after they were completed and reached the Finance Committee and checked, went to the Ministry of Planning, and all these stages need time, which led to a delay in launching the allocations for new projects.”
He stressed, “The ongoing projects have no delays, and the first batches have been released according to the percentages of completion, and things are going well.”