Tuesday, July 2, 2024
Iraq's Economy Under The Bullets: How Violence Affects Investment
Iraq's Economy Under The Bullets: How Violence Affects Investment
July 2, 2024 Baghdad/Al-Masala Event: The spread of weapons in Iraq represents a major challenge to security and stability in Iraq, while it is difficult to reach an accurate number that limits the number of weapons that Iraqis possess.
However, unofficial reports indicate that the number exceeds 15 million weapons, ranging from light, medium and heavy.
This widespread proliferation of weapons is mainly due to the inability to enforce the law on everyone, which creates a chaotic environment dominated by armed conflicts.
Tribal conflicts, especially in the southern and central Euphrates regions, are among the most prominent manifestations of this chaos, as tribes fight using heavy and medium weapons, leading to many casualties.
International armed groups are spreading in Iraq, whether on the border with Syria or in the northern regions of the country. These groups are often linked to neighboring countries, such as the Kurdistan Workers' Party, contributing to increasing the complexity of the security scene in Iraq and exacerbating the problem of the spread of weapons.
Dozens of Iraqis are killed every month due to the use of weapons, whether in tribal conflicts or in individual crimes.
As for the arms market in Iraq, it is difficult to control, according to a security source who says: “Weapons are traded illegally and at high prices, which makes it difficult for the authorities to control this market.”
Even doctors in Iraq face death threats while working in hospitals, reflecting the extent to which the spread of weapons affects various aspects of daily life.
The Iraqi police forces find it difficult to confront the loose weapons, as they fear intervening in armed conflicts for fear of being attacked.
This situation reflects the state's weakness in imposing its control over all areas and maintaining security effectively.
Under these circumstances, it becomes necessary to take serious measures to limit the spread of weapons in Iraq, by strengthening the capabilities of the security services and strictly enforcing the law on everyone, in addition to enhancing cooperation with the international community to limit the flow of weapons into the country.
In his government program, Iraqi Prime Minister Mohammed Shia al-Sudani pledged to end the phenomenon of loose weapons outside the official and legitimate institutions.
The spread of weapons in Iraq has significant negative effects on the lives of individuals and society in general, as it contributes to the rise in rates of violent crimes, such as murder, theft, and armed assaults, which makes the daily lives of individuals more dangerous and increases the feeling of insecurity.
Armed conflicts between clans result in many casualties and destruction of property, and these conflicts are often long-lasting and exacerbate social tensions. https://almasalah.com/archives/95819
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Rafidain Bank announces the implementation of the comprehensive banking system in 31 of its branches in Iraq
Economy News – Baghdad
Rafidain Bank announced today, Tuesday, the implementation of the comprehensive banking system in the Pharmacists Branch in Basra, thus joining the branches that have activated the comprehensive system in Baghdad and the governorates, in addition to the border crossing branches (Zurbatiya – Safwan – Arar – Trebil).
Thus, the number of effective and completed branches of the system becomes (31) branches, in an important step to strengthen the banking system, achieve its requirements, and move away from paper work and completely towards electronic systems.
The bank confirmed in a statement today that the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the set timetables to include all the bank’s branches in the implementation of the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions.
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Added 07/02/2024 – 9:10 AM
https://economy-news.net/content.php?id=44808
Iraq’s prime Minister on building a stronger relationship with the United States BY GOLDILOCKS, 2 JULY
GOLDILOCKS
Atlantic Council | Front Page
Iraq’s prime Minister on building a stronger relationship with the United States live broadcast
April 19 at 2:30 PM ET
Question:
Is the government thinking about reevaluating and readjusting the value of dinar due to the current circumstances in the market? Or do you see it to stay the same?
Prime Minister Al Sudani’s response:
This policy is actually dictated by the central bank. The government abides by the decision of the central bank. Iraq is in the best status we could be in. We have actually had an assessment which has given much trust to higher global parties. So we started reforms when it comes to the banking sector. We have spoken about this before, but this is actually going to raise the level of the value of Iraqi Dinar. There is a consistent policy the central bank is using when it comes to investments and how they invest the money for our own reserves here in Iraq.
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"The 9th Global Review of Aid for Trade entitled “Mainstreaming Trade into Development Strategies” wrapped up on 28 June after three days of discussions involving over 1,000 participants and more than 60 sessions looking into how developing economies can maximize the potential of trade to boost economic growth and improve living standards."
Aid for Trade (AfT) is an initiative of the World Trade Organization (WTO). The initiative was launched in 2005 at the WTO's Hong Kong Ministerial meeting.
The purpose of this meeting is to help developing countries implement trade commitments through connecting their trade priorities with trade arrangements and reforms that assist in building trade capacity.
The AfT is a policy concept regarding international economic trade development focusing on helping developing countries build trade capacity and infrastructure.
There is no fund to give those who participate in this program, but the benefits of attending this meeting is beyond what money can buy. The WTO agreements made in this meeting covers goods, services, climate change, digital technology, geopolitical tensions, and intellectual property.
Watch the water.
© Goldilocks
https://www.wto.org/english/news_e/news24_e/gr24_28jun24_e.htm
https://blogs.worldbank.org/en/trade/developing-countries-need-more-support-in-global-trade
https://www.wto.org/english/tratop_e/devel_e/a4t_e/aid4trade_e.htm
https://ustr.gov/issue-areas/trade-development/trade-capacity-building/aid-trade#:~:text=U.S.%20aid%20for%20trade%20is,such%20countries%27%20ability%20to%20compete