Former MP: Comprehensive salary scale amendment is an exaggeration
Former MP Mohamed Ibrahim showed today, Thursday, that it’s miles not possible for any government to amend the revenue scale at once and comprehensively without going via successive stages and amendments that require time.
Ibrahim stated in an interview with dinaropinions.com, “After it was impossible to amend the income scale and have a unified revenue scale, there are truthful solutions including raising the salaries of the lower grades from the tenth grade to the seventh grade as a first stage, after which undertaking a observe and following up on the difficulty and figuring out whether there have been economic and financial profits or an effect on improvement due to this step,” indicating that “if this step is beneficial, the salaries of new process grades will be amended and so on.”
He delivered, “Adjusting the earnings scale from the primary to the 10th grade is an exaggerated assertion and no government can do it,” noting that “the government were given involved in claiming the capability to amend the revenue scale on the contemporary level, and now the boundaries to that have grow to be clear to it.”
it is noteworthy that many laws had been not on time in passing inside the house of Representatives because of their economic implications or the lack of consensus the various political blocs on their regulation.
Iraqi News Update
Are We To Expect Major Announcements?
Governor Ali-Alak of the CBI came out some weeks ago and stated that there is an international anticipation to celebrate an occasion regarding their monetary reform policy.
As he has also recently said that opening channels in foreign and
Arab currencies achieves stability in the exchange rate and gradually eliminates the black market.
Which can only mean that since they have completed 100% of their financial obligations which was a requirement in order to move to this next phase it should not be surprising of the special meeting over the weekend involved powerful organizations.
UNICEF
UNESCO
World Bank
Etc.
And ofcourse 140 deputy ambassadors arriving in Basra. The presence of international bodies like the World Bank, as well as ambassadors, indicates the event's importance.
These organizations wouldn't typically attend unless the event had substantial international implications, such as Iraq positioning itself as an attractive investment destination or announcing reforms that could impact global markets.
The mention of showcasing Iraq to investors could point to Iraq demonstrating progress in economic reforms, infrastructure development, and stability. This might include the following.
• Transparency measures to attract foreign direct investment.
• Policy changes to make Iraq a more competitive market.
• Highlighting sectors like oil, tourism, and agriculture for potential investors.
Listen, If Iraq plans to release a new exchange rate for the Iraqi Dinar, this event could be the stage for such an announcement.
A revaluation of the dinar would attract foreign investors who have been waiting for a more stable and globally recognized currency. Do you think we are finally at the doorstep? Because it definitely appears that way in many regards.
Basra is Iraq's economic capital, especially as it relates to oil exports. Hosting this event there could symbolize Iraq leveraging its oil wealth as a foundation for broader economic growth and reforms. Basra's position as a gateway to the Gulf enhances its significance as a center for trade, investment, and international collaboration.
I do not know of any other time that would be more appropriate than what is to happen over the weekend.
If Iraq intends to release a new exchange rate, the timing of this event suggests it could be coordinated with international acknowledgment and celebration to gain credibility and market trust. The timing right now is just to significant.
The international participation underscores the global interest in Iraq’s progress, and the showcase for investors suggests a move toward transparency and competitiveness. Watching how this unfolds could provide clarity on Iraq’s economic trajectory and its impact on global markets. Let's see what they have for us.
US Secretary of State reiterates support for Iraq’s sovereignty, praises Iraq’s progress
Shafaq News/ US Secretary of State, Antony Blinken, made an unannounced visit to Baghdad on Friday, accompanied by senior US military and diplomatic officials. He met with Iraqi Prime Minister, Mohammed Shia Al-Sudani, to discuss regional stability, the ongoing crisis in Syria, and counterterrorism efforts.
During a statement to the press, Blinken praised Iraq’s progress, noting the vibrancy and development visible in Baghdad. “It’s been very impressive to see these changes, and it just underscores the importance of Iraq continuing to have the space to do that. That’s what its people deserve,” he said.
The talks focused heavily on the situation in Syria, with Blinken emphasizing the need for a peaceful transition from the Assad regime to a democratic and inclusive government. He stressed that such a transition must protect minorities, avoid sectarianism, and prevent the resurgence of terrorist groups such as ISIS, according to the US Secretary of State.
“No one knows the importance of that more than Iraq because of the presence – indeed, the ongoing presence – of ISIS in Syria, and we are determined to make sure that Daesh [ISIS] cannot re-emerge,” Blinken pointed out.
Blinken further reaffirmed US support for Iraq’s sovereignty and the importance of Iraq reinforcing its stability and security. “And I think this is a moment as well for Iraq to reinforce its sovereignty as well as its stability, security, and success going forward,” he stressed.
He also underscored the significance of regional cooperation to support the Syrian people during this transitional phase.
The Secretary of State is set to continue regional discussions in Aqaba, Jordan, where he will meet with officials, including Iraq’s foreign minister, to advance dialogue on Syria and broader Middle Eastern stability.
...December 15, I believe remittance auctions will cease...That may be the last you see of the dollar auctions...They're pushing towards getting rid of the illegal market smuggling... Article quote: "Advisor to the Prime Minister Saleh confirmed again...
that tightening the control over suspicious financial transfers reduces manipulation of the exchange rate and the stability of the national currency..."
Cessation of these auctions of the dollar and the illegal trade, it's going to do wonders. That's their focus and they're not deviating...
FRANK26: "BECAUSE OF A NEW EXCHANGE RATE, NOT BECAUSE OF A PROGRAM RATE".........F26
Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation
December 11, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation, which included the Director of the Financial Sector of the Corporation in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zughair, the Resident Representative in Iraq, the Financial Investment Officer, and the Head of the Advisory Department.
During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of cooperation between local banks and correspondent banks with technical support from the Corporation, and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman).
His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign contributions, which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing. The meeting discussed the importance of launching Riyada Bank next year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.
Central Bank of Iraq Media Office December 11, 2024
