Tishwash: Al-Ansari to “Al-Eqtisadiah News”: The Economic Contact Group will accelerate the implementation of economic reforms
The economic expert, Aqeel Al-Ansari, said that the formation of the Economic Contact Group for Iraq will contribute to the implementation of economic reforms in Iraq.
He added in a statement to “Al-Iqtisad News” that “the group’s role lies in helping the Iraqi government to draw a roadmap to get out of the economic predicament that it is experiencing, as a result of the outbreak of Corona virus and the low oil prices.”
He added, “The importance of the group also relates to that it is a contact group and not a financial or economic alliance, meaning that they will not provide loans like the Kuwait Donors Conference.
“It is hoped that the group will monitor the progress of reforms, provide advice and expertise that is lacking in Iraq, and mobilize the international community to help it and bring it closer to international or legal accounting firms,” Al-Ansari said.
He pointed out that “the periodic meeting of the group, every three months, will push all the parties to implement what they have agreed upon and to progress according to the drawn road map.”
He added that “the international community is represented in this group by the World Bank and the Monetary Fund, as well as the Group of Seven, which gives an indication that the international community is morally committed to helping Iraq out of this ordeal and build a better future link
Tishwash: Al-Darraji demands the central bank to adopt a real rate of the Iraqi dinar
MP Muhammad Sahib Al-Darraji called on the Central Bank to adopt the real price of the Iraqi dinar, away from the prices offered in the currency auction.
Al-Darraji said in a tweet on his Twitter page, Tuesday, “The central bank must adopt a real price for the dinar, away from breaches of the window of selling the notorious currency.”
He also called for “disclosing bills and documentary credits provided by banks in exchange for transferring hard currency abroad and checking its credibility.”
Al-Darraji stressed that the bank’s failure to do so is that it “is considered an accomplice in the crime and we will have to resort to legal methods to remedy this defect.”
The window of selling the currency in the central bank faces many criticisms, while leaks stated that a number of banks acquire the amounts that are being traded in the currency auction for the purpose of increasing their profits. link
Tishwash: Kurdistan Finance Minister: 30% of the banking system has become electronic
The Minister of Finance and Economy of the Kurdistan Region, Awat Sheikh Janab, announced the transformation of 30% of the banking system in the region to the electronic system.
Sheikh Janab said, during his participation in the second day of the conference of the chambers of commerce of America and the Kurdistan Region, which was held under the title “The priorities of the economy of the Kurdistan Region after Corona”, “We made the economic system electronic.”
He added, “We have worked to remove obstacles to investment, and we pay great attention to the banking sector.”
In turn, the head of the Investment Authority in the region, Muhammad Shukri, said, during his participation in the conference, that “the investment law includes good guarantees for investors.”
He explained, “Domestic and foreign investments are equal before the law,” stressing that “a foreign investor can transfer 100% of his profits abroad link
Tishwash: Finance Minister: The Iraqi economy is going through unprecedented corruption
The Minister of Finance, Ali Allawi, confirmed, on Wednesday, that the Iraqi economy is going through unprecedented corruption, to the point that the employee’s seat at the border outlets is being sold between 50 and 100 thousand US dollars.
Allawi said in statements to the British Guardian newspaper, that the crises in Iraq will remain for a long time, and will continue until the price of a barrel of oil reaches $ 70, indicating that the price of oil will not rise, and solutions must be found, otherwise Iraq will be the fate of Venezuela.
Allawi added that the problems of Iraq are interconnected to the point that when a solution to one of the problems is to be found, an influential and beneficial personality emerges and impedes its achievement.
Pointing out that only 10 percent of the border crossings’ revenues, which amount to eight billion, enter the Iraqi treasury, due to corruption and influence. link