Iraq Marks International Anti-Corruption Day with Significant Strides, 9 DEC

 Iraq Marks International Anti-Corruption Day with Significant Strides

On the occasion of the International Anti-Corruption Day, Iraq’s Federal Commission of Integrity commemorated the significant steps the nation has taken in its fight against corruption. The day, marking the 20th anniversary of the United Nations Convention against Corruption (UNCAC), underscores the global commitment to combat corruption in all its forms.

Unprecedented Strides in Anti-Corruption Efforts

The statement from the Commission reflects Iraq’s unprecedented strides in improving transparency and accountability within its institutions. These strides include aligning public and private finance with the Sustainable Development Goals (SDGs), and developing new indices to better assess the impact of anti-corruption efforts, including in public procurement. This commitment is central to the country’s development initiatives, with the aim of directing every dollar towards impactful development.

Global Struggle Against Corruption

Despite these advances, corruption remains a global challenge with one in five people worldwide reported having to pay a bribe to access a public service. According to data from the United Nations Development Programme (UNDP), 124 countries have stagnant corruption levels. The UNDP, along with other UN partners, is driving new efforts to measure corruption, contributing to a new Statistical Framework to Measure Corruption led by the United Nations Office on Drugs and Crime (UNODC).

Reinforcing the Vision of Integrity

Executive Director of UNODC, Ghada Waly, reiterated the vision of a world where integrity prevails. Through the UNCAC, the international community has made significant strides against corruption by establishing robust legal frameworks, reforming institutions, and strengthening international cooperation. These efforts prevent resources from being diverted from public services and crisis response, disrupt illicit financial flows, and uphold the rule of law, promoting public trust and peace.

The steps taken by Iraq represent a beacon of progress in the ongoing global battle against corruption. As the world continues to struggle with this pervasive issue, the nation’s commitment to transparency and accountability provide a roadmap for others to follow.

https://bnn.network/world/iraq/iraq-marks-international-anti-corruption-day-with-significant-strides/

Iraqi Dinar update for 12/08/23 - Don't do it

Iraq’s Prime Minister Pledges Steadfast Fight Against Corruption, 9 DEC

 Iraq’s Prime Minister Pledges Steadfast Fight Against Corruption

In a robust affirmation of the Iraqi government’s commitment to integrity and transparency, Prime Minister Mohammed Shia’ Al-Sudani marked the International Day for the Combating of Corruption with a pledge to fight corruption relentlessly. The Prime Minister outlined this as an essential priority for the rule of law and societal progress, a testament to the vision of a fair and equitable Iraq.

Unwavering Support for Regulatory Bodies

Al-Sudani emphasized his government’s unwavering support for the regulatory bodies tasked with maintaining checks and balances in the system. Recognizing the magnitude of the task that lies ahead, he highlighted the necessity for robust institutions capable of recovering the nation’s assets and pursuing those individuals responsible for corruption.

Global Cooperation in Denying Safe Havens

The Prime Minister stressed the importance of an international commitment to deny safe havens to corrupt individuals. This, he argued, is a vital step in ensuring accountability and upholding justice, not just within Iraq’s borders, but on a global scale.

Condemnation of Recent Attacks

In related news, Al-Sudani condemned the recent rocket salvos fired at the U.S. embassy in the Iraqi capital, Baghdad. Indications point towards pro-Iranian militias being behind the attack, and the Prime Minister has ordered a thorough search for the perpetrators, highlighting the broader commitment to law and order.

https://bnn.network/politics/iraqs-prime-minister-pledges-steadfast-fight-against-corruption/

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 9 DEC

 Frank26 (KTFA)

[Iraq boots-on-the-ground report]

FIREFLY: Did you see this [sends video]? …They are talking about how the dinar is about to become stronger.  Then a commercial comes out  talking about how strong the dinar is already and will be even stronger very soon…It’s about the strength of the dinar, telling them to use it for everyday things and will only get stronger and stronger.

FRANK: You better be ready Iraqi citizens! In my interpretation of it…This is part of the monetary reform education they are teaching the Iraqi citizens that they will soon have value added to their currency…

Community comment:
“The future of Iraq is on the conference table in Dubai.”

You better believe it is…It doesn’t get any more plainer.  It doesn’t get any more obvious.

FIREFLY: It’s a campaign they told us today.  They keep repeating it over and over. It’s a campaign they are doing they say to build up the dinar, to make it the gateway of the country.  That’s what they’re telling us.  They’re adding strength to our currency.

FRANK:  I know what they are trying to tell you… Is there strength in a program rate?  Of course not.  They’re preparing you…  

A Reading Of The Regulatory Procedures For Iraq’s Foreign Trade , 9 DEC

 A Reading Of The Regulatory Procedures For Iraq’s Foreign Trade 

Ali Daadoush  The process of trade openness after 2003 cast a shadow on the economic reality, especially after the lifting of economic sanctions, which led to the return of the flow of oil exports to global markets. This led to an improvement in the financial conditions of successive Iraqi governments, which was reflected in an increase in individuals’ incomes (purchasing power) and in the absence of a base.

Productivity Iraq turned towards imports to meet the multiple needs of the public (governmental) and private sectors, and with the presence of rapid profit from imports, most of the influential people turned to these transactions, which created economic chaos and a structural imbalance that affected the productive sectors, thus dominating the oil sector and achieving the rentierism of the Iraqi economy with complete distinction until the present time.

Since the discovery of oil for the first time by Colonel Dark in Pennsylvania in 1859, the oil commodity has been priced in the US dollar, and this has created a strong relationship between them, especially after World War II.

Accordingly, any sanctions imposed by the United States on oil-producing countries apply to commercial transactions in the dollar currency under the pretext of preserving their national security. This happened with Iran when economic sanctions were imposed on it. Consequently, any dealings in the dollar currency between Iran and the rest of the world were prohibited, with the exception of goods and humanitarian services, in accordance with the acceptance of the United States as well.

In light of what was stated, Iraq has commercial dealings with Iran due to relatively close ties, customs and traditions, in addition to the cheap prices of imported goods and the low costs of transportation and shipping as well.

However, after the beginning of the year 2023 and the new instructions to regulate Iraq’s foreign trade according to the new transfer mechanism through (the Central Bank platform), Iraqi merchants were prevented from official transactions in dollars with the sanctioned countries, and dealing outside the framework of the platform remained prevalent, which led to increased pressure on the cash dollar.

Which the Central Bank sells through the foreign currency selling window, leading to a rise in the dollar exchange rate in the parallel market and reaching record levels compared to the official price approved by the Central Bank of Iraq.

The Central Bank has tried to remedy the situation by not aggravating it, and it has succeeded relatively recently through several measures, the most recent of which is providing the opportunity to import the dollar exclusively through airports and (diversifying the basket of commercial currencies) in terms of the agreement of Iraqi banks with Turkish banks to deal in the Turkish lira as well as dealing in the euro and the Emirati dirham.

Likewise, we hope that the Central Bank of Iraq will open commercial dealings with Iran, and this will go in two directions: - The first: (dinar versus riyal) and this depends on what products we export to Iran and import in the dinar currency?

There is talk about relying on exports of petroleum products to Iran, but in light of the sanctions imposed on Iran by the United States, American sanctions will be imposed on Iraq (albeit in an indirect way, and the past few months are the best evidence), and therefore it is necessary to deal with this measure with complete caution.

Second: (exchanging goods for goods in light of the price weight of each type of goods) meaning organizing trade in currencies other than the dollar to relieve pressure on the dollar exchange rate in the parallel market.

We propose electronic dealing by importing goods and products from Iran, and in return, the Iraqi private sector buys what the private sector needs. Iranian goods and services are shipped to them through a joint chamber of commerce and industry between the two sides.

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The Coordination Framework Holds An Emergency Meeting Tonight Due To The Attacks On The American Embassy In Baghdad, 9 DEC

The Coordination Framework Holds An Emergency Meeting Tonight Due To The Attacks On The American Embassy In Baghdad

Political |  08/12/2023  Baghdad - Mawazine News  A political source announced on Friday that the coordination framework will hold an emergency meeting tonight. 

The source said, "The framework will hold an emergency meeting tonight due to the attacks on the American embassy in Baghdad."   

https://www.mawazin.net/Details.aspx?jimare=239095