Al-Sudani, Zaidan discuss efforts to combat currency manipulation
Shafaq News / Prime Minister Mohammed Shia Al-Sudani and the President of the Iraqi Judiciary Council, Faiq Zaidan, discussed on Sunday the judiciary's efforts to hold accountable those manipulating and speculating with hard currency.
According to a statement, the meeting addressed various files and judicial measures taken to uphold the rule of law and enhance security and stability in the country.
During the meeting, both sides emphasized the importance of strengthening the efforts of the Iraqi judiciary in holding accountable those manipulating the people's livelihood and speculating with foreign currency. The goal is to disrupt the market, impact the citizens' living conditions, and create challenges for government plans aimed at achieving economic and financial reforms.
Geopolitical Tensions Rise as Iraq Rejects Kurdistan’s Oil Development & Canada Faces Climate Challenges
The recent refusal by Iraq’s Ministry of Oil to implement a development mechanism for Kurdistan’s oil has deepened geopolitical tensions in the Middle East. Amid escalating market fluctuations, the price of the dinar has risen, with 100 dollars now equating to 163,500 dinars.
Geopolitical Tensions: Iraq and Turkey
The strained relations between Iraq and Turkey have become a focal point, with the Iraqi Ministry of Oil’s rejection of a suitable mechanism for the development of the Kurdistan region’s oil at the crux. Turkish Foreign Minister Hakan Fidan’s call for Iraq to label the Kurdistan Workers’ Party (PKK) as a terrorist organization further escalates the hostility between Turkey and Kurdish fighters in Iraq and Syria. The disputes over oil revenues and the PKK’s activities in Iraq have intensified tensions between the two nations.
Military Activities and Tensions: Iraq and Syria
An unattributed rocket attack on the Saqr base in Iraq heightens the existing hostilities, particularly those targeting American bases. This incident, coupled with the diversion of flights to Latakia Airport in Syria following Israeli airstrikes on Damascus and Aleppo airports, underscore the convoluted nature of the regional conflict.
Humanitarian and Political Developments: Jordan and Gaza
Jordan’s announcement of a second airdrop of urgent medical aid to Gaza highlights the ongoing humanitarian crisis in the region. The heavy fighting near Shifa Hospital in Gaza City and Israeli Prime Minister Benjamin Netanyahu’s rejection of international calls for a ceasefire compound the complex humanitarian and political challenges in the Gaza Strip.
Climate Change and Energy Policies: Canada
Addressing rising concerns over energy inflation, carbon capture subsidies for the oil sands, and challenges in the offshore wind industry, Canada explores the potential of its abundant forestry resources. The development of a new low-carbon building material, mass timber, could unlock the industry’s growth potential if barriers are overcome.
In the intricate web of international relations, geopolitical tensions, military activities, humanitarian crises, and climate change challenges, the complexities of the Middle East and Canada’s energy policies become apparent. The volatile nature of the region, coupled with the multifaceted challenges of transitioning to a low-carbon economy, underscores the need for nuanced approaches in addressing these issues.
Iraq Signs An Agreement With An International Bank To Finance A Power Plant Maintenance Project
Minister of Finance, Taif Sami, signed an agreement to finance the maintenance project loan for the Ministry of Electricity’s stations with JPM Bank, in partnership with (GE) General Electric International Inc., within the annual maintenance project (fifth phase, PUP5/B, at a total cost estimated at (257) million dollars. A Ministry statement
stated Finance: The signing of the agreement falls within the framework of the fourth axis of Article Two / State General Budget Law, and based on Cabinet Resolution No. (23588) of 2023, in which the Minister of Finance is empowered to sign the loan financing agreement for the project with JPM Bank and with the guarantee of the Export-Import Bank.
The Minister of Finance indicated during the signing ceremony, according to the statement, that “financing the project loan will contribute effectively to increasing the efficiency of electric power generation plants in Iraq, which will reflect in the interest of raising energy productivity and thus reducing the gap between supply and demand in energy and bridging The needs of citizens in all governorates.” https://www.radionawa.com/all-detail.aspx?jimare=3624
How will Aki profit by having these banks? By exchanging the Iraqi dinar for dollars. This is a profit for the bank. For Aki...
The economic reform is blossoming...because the monetary reform was a success...It is due to the security and stability that Sudani and Alaq have created for the reforms.
[Iraqi bank friend Aki update]
When Saddam was removed, many retirees...expatriots...soldiers...citizens left Iraq...A great portion has come to the United States of America therefore these [CBI affiliated] private banks are needed for the reinstatement for the Central Bank of Iraq to re-collect the 3-zero notes that are missing...They turned the private exchange centers into private banks for...the change in the exchange rate of the Iraqi currency.
The Federal Court Obliges The Council Of Ministers And The Minister Of Finance To Submit The Final Accounts
Sunday 12, November 2023 | Political Number of readings: 221 Baghdad / NINA / The Federal Supreme Court (the highest judicial authority in the country) accepted a lawsuit submitted by the Secretary of the Communist Party in Iraq, in which he demanded that the Council of Ministers and the Ministry of Finance submit the final accounts for the implementation of the general budget.
Lawyer Zuhair Diaa El-Din, who was assigned, along with lawyer Salam Zuhair Diaa El-Din, by the Secretary of the Communist Party, Raed Fahmy, to carry out the duties of the lawsuit, in a statement today, “The Federal Court issued a decision obligating both the Council of Ministers and the Minister of Finance to submit the final accounts.”
The Federal Court issued its decision, in Case No. 190/Federal/2023, based on the implementation of the text of Article (62/First) of the Iraqi Constitution, which stipulates that “the Council of Ministers shall submit the general budget law and the final account to the House of Representatives for approval, in accordance with the provisions of Article (34). ) of the Financial Management Law No. (6) of 2019.
According to Diaa El-Din, this decision constitutes “a major achievement, given that the state’s final accounts reflect the processes of applying the general budget in accordance with the legal regulations, systems and financial instructions in force, to show the financial position of the state with its rights that must be collected, and the obligations that must be paid.”
This comes after the Council of Ministers and the Ministry of Finance hesitated to submit the final accounts that were last submitted for the year 2018, according to what was stated in the statement, which indicated that the accounts that are submitted are Years behind its timing,
the lawyer for the case expressed his hope, after the issuance of the decision, that the Council of Ministers and the Ministry of Finance would commit to completing and submitting the final accounts for the ending year with every budget that is referred to the House of Representatives for the purpose of approval, in implementation of the decision of the Federal Court, whose decisions are considered final and binding on all authorities based on the text Article (94) of the Constitution.
He also expressed his aspirations that the issuance of this decision would contribute in an effective way to preserving public money through monitoring disbursement operations, according to the statement.
On June 13, 2023, the House of Representatives voted on the country’s general financial budget for the years 2023, 2024, and 2025, after a difficult struggle that extended for months, and forced the holding of a series of parliamentary sessions. https://ninanews.com/Website/News/Details?key=1089489
