Monday, October 16, 2023
Sudanese advisor: 70% of Iraq's imports are with the BRICS countries, 16 OCT
Sudanese advisor: 70% of Iraq's imports are with the BRICS countries
Economy News - Baghdad
The financial adviser to the Prime Minister, Mazhar Mohammed Saleh, revealed on Sunday that 70% of Iraq's imports are with the countries of the "BRICS" group.
Saleh told the official news agency, "The BRICS group includes Brazil, Russia, India, China and South Africa, where the origin of the name (BRICS or BRICS) was launched in 2001 by Goldman Sachs financial group economist Jim O'Neill to describe fast-growing economies that are expected to collectively dominate the global economy by 2050."
He added, "Iraq announced its desire to join the BRICS group, as there is an objective basis related to the links of the Iraqi economy with the markets of the BRICS countries themselves, as it reflects the current account of the Iraqi balance of payments with the countries of that economic group, which includes the strongest emerging markets in the world," noting that "there is a direct dependence of the BRICS group on an important percentage of Iraq's oil exports, which are not less than 55 percent, especially India and China.
He explained that "about 70 percent of Iraq's imports are currently with the BRICS countries themselves, which means that the trade partnership and Iraq's strong economic interests automatically push towards international economic cooperation with our country's trade partners, especially in the issue of looking towards wider areas in the flow of the group's investments, and obtaining advantages to join in a way that serves the future of sustainable development and the progress of the economy in our country."
He added that the "BRICS" group currently occupies about 27 percent of the world's land area and 42 percent of the world's population, with Brazil, Russia, India and China among the ten largest countries in the world in terms of population, area and GDP (according to the purchasing power parity criterion), and the last three countries (India, China and Russia) are potential emerging superpower countries, while all five countries in the BRICS group are also members of the the twenty, which includes the United States of America and the rest of the Group of Seven."
Earlier, Prime Minister Mohammed Shia al-Sudani confirmed Iraq's readiness to join the BRICS group, if it receives an invitation from the founding countries.
Parliamentary hosting of the Governor of the Central Bank of Iraq regarding the dollar exchange rate, 16 OCT
Parliamentary hosting of the Governor of the Central Bank of Iraq regarding the dollar exchange rate
The Parliamentary Finance Committee announced on Monday that it will host in the coming days the governor of the Central Bank of Iraq and its general directors regarding the lack of control over the exchange rate of the US dollar against the dinar
Committee member Mustafa Al-Karaawi told Shafaq News Agency, “The committee will host this week the Governor of the Central Bank, Ali Al-Alaq, and the general directors of the bank to find out the reasons for the rise and fall in the dollar exchange rate in the parallel market and who is the party concerned with implementing the reform packages launched by the Central Bank.”
He pointed out that "the instability of the dollar exchange rate has caused an economic problem, and there is no clear policy for the central bank," stressing that "the government must implement what the bank wants through the reform packages it launched, and therefore controlling the exchange rate is a shared responsibility." between the Central Bank and government agencies, especially those concerned with import and customs ports.”
Al-Karawi pointed out that “hosting the bank’s governor will address the economic crisis, the rise and fall of the dollar, and the agreements the bank signed with the US Federal Reserve and the World Bank.”
The exchange rates of the US dollar have witnessed an upward increase against the Iraqi dinar for several months, and reached its peak this month when the price reached 1,655 dinars to one dollar, despite the government and the Central Bank setting an official exchange rate of 1,320 dinars to one dollar. link
Coffee with MarkZ. 10/16/2023
"ANALYZING IRAQ NEWS" BY MILITIAMAN, 16 OCT
Militia Man
Article: "...Representative have agreed on the importance of passing this law [HCL] because it guarantees the fair distribution of wealth to all Iraqis..."
That's everybody in parliament, that's everybody, so I think there isn't going to be anybody that would miss that vote... So why haven't they done it? They have to value that.
That's what we're waiting for to see if they have a new valuation for that based off the new international exchange rate...
There's a lot of movement and evidence to suggest Iraq is going to to international. They pretty much have all the tools they need to do so.Iraqi Prime Minister Directs Emergency Aid for Besieged Gazans, 16 OCT
Iraqi Prime Minister Directs Emergency Aid for Besieged Gazans, 16 OCT
As the Israeli-Palestinian conflict continues to escalate in the Gaza Strip, Iraq has emerged as a vocal supporter of the Palestinian cause. Prime Minister Mohammed Shia Al Sudani recently met with the Shiite Coordination Framework coalition, where he emphasized the urgent need to collect and send donations to the besieged Palestinians in occupied Palestine. This gesture of solidarity comes in the wake of condemnation of Israel’s brutal attack on the OPTs, which includes the direct targeting of civilians and a harsh siege on Gaza.
Iraq’s Stance on Gaza Conflict
The attendees of the meeting expressed their strong condemnation of the ongoing Zionist attack on the occupied territories. They decried the direct targeting of civilians, highlighting the severe humanitarian crisis faced by the Palestinians, worsened by the brutal siege imposed by Israel on the Gaza Strip.
Iraq’s government, its people, and the parliament have shown a united front in supporting the Palestinian cause. They have joined the supreme religious authority in Najaf in condemning the violence and injustice faced by the Palestinians. Their stance emphasizes the need for international accountability and action to stop the violations against the Palestinian people.
The attendees expressed their appreciation for Iraq’s government positions and the widespread support from the Iraqi people and parliament. They also commended the courageous stance of the Iraqi government in defending the Palestinian people. Diplomatic efforts are ongoing to engage with countries worldwide to rally support for the Palestinian people.
Major General Yahia Rasool, the spokesman for the Commander-in-Chief of the Iraqi Armed Forces, announced that the Iraqi army has received direct donations and humanitarian aid for the Palestinian people. He confirmed that humanitarian aid would be continuously delivered to the Palestinians, underlining Iraq’s commitment to helping those affected by the conflict.
Parliamentary Support
The Iraqi Parliament, led by Speaker Muhammed al-Halbousi, held a session to address the dire situation in Gaza. Parliamentary blocs expressed their unwavering support and solidarity with the Palestinian people. They strongly condemned the brutal crimes committed by Israeli forces in Gaza and the unjust siege imposed on its residents.
The MPs urged the Arab League to hold an emergency session to denounce the aggression against Gaza and called for opening channels to deliver humanitarian, medical, and food aid to the Gaza Strip. They also appealed to the Arab Inter-Parliamentary Union to adopt a unified stance, urging the international community to take action to end the injustice against the Palestinian people.
Reevaluating Iraq’s Relationship with the United States
As the U.S. continues its full support for Israel, several political and parliamentary forces in Iraq have called for a reconsideration of the country’s relationship with the United States. They demand that the Iraqi political leadership boycott U.S. Ambassador in Baghdad, Alina Romansky, for her meetings with Iraqi political and party leaders. Iraq’s position reflects a growing sentiment that the U.S.’s unwavering support for Israel requires a reevaluation of the relationship between the two nations.
Retired U.S. General Draws Parallels Between Israel-Hamas Conflict and 9/11, 16 OCT
Retired U.S. General Draws Parallels Between Israel-Hamas Conflict and 9/11, 16 OCT
As the echo of rockets and cries of despair reverberate through the landscapes of Israel and Gaza, an ominous voice pierces through the cacophony. Retired US General David Petraeus, the man who commanded US forces in Iraq and Afghanistan and served as director of the CIA, has drawn a chilling parallel between the current onslaught by Hamas and the 9/11 terrorist attacks on American soil.
9/11 Reimagined: A Larger Scale Tragedy
Petraeus, in his recent interview with CBS News, painted a gruesome picture of the current situation in Israel, likening it to a magnified version of 9/11. He posited that the loss of life in Israel, when scaled up to match the American population, would equate to over 40,000 deaths. The comparison, stark as it may be, underscores the severity of the ongoing conflict and the scale of the challenges Israel faces in its planned invasion of Gaza.
Invisible Enemy: Unseen Threats and Unanticipated Challenges
Petraeus highlighted the challenges Israel would face in its planned invasion of Gaza, including the presence of tunnels and improvised explosive devices. The retired general expressed surprise at the lack of awareness from Israeli and American intelligence agencies regarding the planning of the attack, indicating a potential intelligence blind spot and the need for a strategic reassessment. This sentiment hints at a broader concern: Can Israel, in its pursuit of destroying Hamas and retaking Gaza, anticipate and navigate the labyrinth of obstacles that lie ahead, both seen and unseen?
Future of Gaza: Long-term Implications and the Burden of Responsibility
Yet Petraeus’s discourse did not stop at the immediate challenges of the conflict. He questioned the long-term outcome of Israel’s mission, particularly if it succeeds in destroying Hamas and retaking Gaza. He emphasized that Israel cannot simply ‘walk away’ from Gaza post-conflict, hinting at the heavy responsibility and potential governance challenges that may arise. The implication here is clear: the battle may end, but the war – the war for stability, peace, and prosperity – could just be beginning.
As the conflict continues to unfold, General Petraeus’s insights serve as both a warning and a call to action. They underscore the complexity of the situation and the far-reaching implications of the choices made today. It’s a sober reminder that in the tumultuous theatre of war, victory is not just about winning battles, but about securing a sustainable, peaceful future.
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