In detail.. The Iraqi budget is subject to political and economic amendments on Tuesday, 25 nov

 In detail.. The Iraqi budget is subject to political and economic amendments on Tuesday

11/24/2024

The Finance Committee of the Iraqi Council of Representatives revealed, on Sunday, the details of amending the budget law included on the agenda of next Tuesday's session.

The agenda of the House of Representatives for Tuesday included the first reading of the draft law amending the first law of the Federal Budget Law of the Republic of Iraq for the fiscal years (2023, 2024, 2025) No. (13) of 2023.

Regarding these amendments, the committee member, MP Jamal Kocher, told Shafak News Agency, "The amendment to the budget law includes one paragraph, which is the cost of producing oil in the Kurdistan Region. The previous amount was very small, and after studying and discussing between the federal government and the regional government, they reached the conclusion that the estimate should be immediate to address and solve the problem, and it should be (16) dollars per barrel, until the final answer is obtained from the advisory committee specialized in determining production costs in coordination with the regional government and production companies operating in the fields."

Kocher added, "This amendment aims to solve the problem and re-export the Kurdistan Region's oil to the Turkish port of Ceyhan. There is a political agreement on this, and the political agreement stressed the necessity of solving this problem. Without the political agreement, this amendment would not have been presented in the House of Representatives, and it will be passed according to this agreement without any obstacles within the parliament regarding this increase."

For his part, member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, explained that the paragraph amending the general budget law will be limited to Articles 12 and 13 related to the Kurdistan Region’s oil exports and revenues.

Al-Kadhimi explained that "Article 12, which will be amended in the budget law, relates to the costs of producing and transporting oil in the region, as the costs of producing oil differ in Basra and are calculated at $6 per barrel, while in the Kurdistan Region they are calculated at $20."  

He pointed out that "Article 13 of the budget law, which will witness amendment, relates to the region's oil exports and its export via the Turkish port of Ceyhan."

Al-Kadhimi pointed out the importance and emphasis on amending the budget law and voting on it before the end of the current legislative session, especially since the extended session will end on December 9.   LINK

FRANK26: SUDANI INTENTIONS ARE VERY CLEAR, 25 NOV

  Frank26

  Monetary reform education right now is at a very high peak where we can see very clearly.  Sudani intentions are very clear...

Purchasing power is but only one of many things that he's bringing to you Iraqi citizens and the rest of the world will benefit from that generosity. 

FIREFLY: "Alaq knows there is going to be a rate change" @DINARREVALUATION

 

The end of the duties of the American ambassador in Baghdad. Reveal the name of the alternative, 25 NOV

 The end of the duties of the American ambassador in Baghdad. Reveal the name of the alternative

An informed source revealed that the end of the US ambassador to Iraq, Alina Romanowski, with the arrival of US President-elect Donald Trump to the White House in January 2025.

The next U.S. ambassador in Baghdad is Tracy Ann Jacobson, who was nominated by US President Joe Biden for the post of extraordinary ambassador to Iraq in January 2024, succeeding Ambassador Alina Romanowski.

Jacobson is a veteran diplomat with long experience in crisis management and work in the Middle East and Europe.

Biography and experiences

Jacobson has held important positions, including assisting in the design of policies related to bilateral relations and international alliances, and has also worked in sensitive positions within the US State Department. She has extensive experience in dealing with regional conflicts and challenges, making her a strategic choice at a sensitive time for Iraq and the region.

Priorities and Tasks

Jacobson stated that her priorities include:
1. Supporting Iraq’s economic independence: by focusing on reforming the banking sector and developing energy infrastructure.
2. Addressing the influence of the armed factions allied with Iran: These factions were described as a threat to the stability of Iraq and confirmed their intention to work to limit their influence.
3. Strengthening strategic partnership: seeks to strengthen Iraqi-American relations by supporting sustainable development and political stability.

Expected Challenges

Jacobson faced criticism in Iraq before taking office, where her statements about reducing Iranian influence were considered “provocative”, which could put her in direct confrontation with Iraqi parties supporting Iranian influence. In addition, it will deal with complex files such as counter-terrorism and reconstruction of affected areas.

The importance of the position

Jacobson’s choice comes at a time when Iraq is going through a sensitive phase of balance between regional and international powers, where the United States plays a pivotal role in supporting its political and economic stability, making its mission very important in achieving Washington’s vision of a stable and prosperous Iraq.

This appointment demonstrates the commitment of the United States to strengthen its diplomatic presence in Iraq and to continue working with the Iraqi government to achieve common goals.

The end of the duties of the American ambassador in Baghdad. Reveal the name of the alternative.

CBI INTEL INFO: " WE ARE STILL SEEING LOTS OF NEWS FROM IRAQ EDUCATING CITIZENS IN MANY AREAS FROM MNT GOAT, 25 NOV

 Mnt Goat  

 ...we are still seeing lots of news from Iraq on educating the citizens in many areas. One biggie is the census... This level of census has NEVER been conducted since the 2003 invasion. Lots has changed since.

 This census is also part of the Article 140 and the process of determining the shares of the excess oil revenue streams to be divided up to the citizens as part of the Hydrogen Carbon Law (HCL) this is also better know as the Oil and Gas Law.  

Yes, the GOI does plan to administer oil profit shares to the citizens much like they do in the Saudi and Kuwait.

  However...you can see that they first must rebuild their economy and infrastructure. Today there is not much remaining of oil revenues after they pay all their bills.

 The surplus will come once they diversify their economy and these other sources of revenue come pouring in, as we are seeing now to begin...I would not gamble on this HCL triggering the RV, as many...seem to think will happen when they finally pass the Oil and Gas Law.

REINALDO JC: HOLD AS WE ARE IN THE FINAL STRETCH @DINARREVALUATION

 

A Government Bank In Karbala Embezzles Installment Amounts Paid By A Number Of Borrowers, 25 NOV

 A Government Bank In Karbala Embezzles Installment Amounts Paid By A Number Of Borrowers

Saturday, 11-23-2024, Taisir Al-Asadi  The Federal Integrity Commission was able to monitor cases of embezzlement of financial sums in a government bank in Karbala Governorate, indicating that the accused embezzled the amounts of installments paid by a number of borrowers.

The Government Media and Communications Office, while talking about the details of the operation that was carried out under the direct supervision of the judge of the Karbala Investigation Court, which is specialized in examining integrity cases, stated that a team formed in the Commission’s Investigation Office in the governorate,

and within the framework of the follow-up and auditing work it is carrying out at Rafidain Bank - Al-Hussainiya Branch, revealed the embezzlement of an amount of money that was paid by two borrowers, noting that the borrowers’ files were seized along with a calculator statement of the cash payments that showed the embezzled installments.

The media office added that the former bank manager, in cooperation with the loan and counter department officials and the computer employee, embezzled the installment amounts, noting that the accused had previously been arrested after an arrest warrant was issued against them by the competent investigating judge;

following the commission’s discovery of their embezzlement of financial amounts after it had audited (2413) files over a period of three weeks, by organizing fictitious loan transactions to purchase cars, indicating that their statements were recorded and they were presented to the judge of the Karbala Investigation Court specialized in integrity cases, who decided to detain them in accordance with the provisions of Article (315) of the Penal Code.

It is worth noting that the Authority announced on August 21st the arrest of 5 bank employees on the grounds of embezzling a sum of money after reviewing the borrowers’ files, guarantor forms, loan contracts, collection receipts, daily matching statements, calculator tables, and the electronic program. https://non14.net/public/172216