Sudanese issues two important directives to the Ministry of Finance related to these categories, 16 dec

Sudanese issues two important directives to the Ministry of Finance related to these categories

Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Sunday to discuss the measures taken to complete the appointment of holders of higher certificates and first students according to the Food Security Law, in addition to the job grades of those covered by the law of graduation of people with medical and health professions.

“The meeting was held in the presence of the Minister of Finance, the Minister of Health, the Director General of the Federal Service Council, a member of the Service Council, and the Deputy Director of the Prime Minister’s Office,” said a statement from his office that {Al-Furat News} received a copy of it.

He added that, “during the meeting, the Ministry of Finance was directed to approve the last lists issued by the Service Council, regarding holders of higher degrees and first graduates, to complete the appointment of the second batch of those covered by the appointment of both categories.”

He continued, “It was also directed to resolve the issue of vacant grades in the Ministry of Health, and submit them to the Ministry of Finance, in order to allocate it to continue appointing as able graduates of the faculties of medicine, pharmacy and medical institutes, covered by the law of the inclusion of people with medical and health professions.”

https://alforatnews.iq/news/السوداني-يترأس-اجتماعاً-لمناقشة-إجراءات-تعيين-حملة-الشهادات-والأوائل-والمشمولين-بقانون-التدرج-الطبي-والصحي

MILITIAMAN CC HIGHLIGHTS NOTES, 16 DEC

 MILITIAMAN CC HIGHLIGHTS NOTES

Summary

The Central Bank of Iraq aims to stabilize the economy by eliminating the black market and attracting foreign investment, supported by recent diplomatic initiatives.

Highlights

• 🌐 Central Bank Governor promotes opening external currency channels to curb black market.
• 💵 Iraq’s investment climate is improving, with 100% ownership for foreign companies.
• 💼 Basra hosts 146 ambassadors to discuss its potential as an economic hub.
• ⛽ Oil exports from Kurdistan to resume, raising production costs to $16 per barrel.
• 🔍 US Secretary of State acknowledges Iraq’s progress in security and stability.
• 📊 Iraq is advancing its digital economy and modernization efforts.
• ✉️ Ongoing international diplomatic visits highlight Iraq’s pivotal role in regional stability.

Key Insights

• 💡 Economic Stability Efforts: The Central Bank’s strategy to open foreign currency channels aims to stabilize the exchange rate and combat the black market, crucial for economic growth.
• 📈 Foreign Investment Appeal: Iraq’s new investment climate allows foreign companies to maintain full ownership, signaling a shift towards a more business-friendly environment, which can lead to economic revitalization.
• 🏗️ Basra’s Economic Potential: The recent meeting of 146 ambassadors in Basra emphasizes its strategic importance for trade and investment, reinforcing Iraq’s potential as a regional economic center.
• ⛢️ Kurdistan’s Oil Production: The resumption of oil exports from the Kurdistan region at higher production costs signals a commitment to increasing national revenues and supporting economic stability.
• 🤝 International Relations: Diplomatic engagements with key global players, including the US, highlight Iraq’s role in regional security and its efforts to stabilize the surrounding areas, particularly Syria.
• 📊 Digital Transformation: Iraq’s focus on digital economy initiatives indicates a commitment to modernization, which can enhance economic efficiency and attract tech investments.
• 🌍 Regional Cooperation: The coordinated efforts among Arab countries to address the Syrian crisis indicate Iraq’s essential role in fostering regional stability and economic collaboration.

DINAR REVALUATION UPDATE: " We are witnessing a paradigm shift" @DINARREVALUATION #iraqidinar

 

The regional government decides to pay employees' salaries next Tuesday, 16 DEC

The regional government decides to pay employees' salaries next Tuesday

The Kurdistan Regional Government announced today, Sunday, that the salaries of employees for last October will be distributed next Tuesday.

The government said in a statement followed by Al-Masry, "Based on the decision of the last meeting of the Council of Ministers and based on the recommendation of the Prime Minister, a delegation from the regional government visited Baghdad today to discuss with the federal Ministry of Finance in order to solve the problem of salaries and financial dues for the region."

The statement added, "The salaries for last October will be distributed starting from Tuesday 12/17, and the salaries for the remaining months of this year will be distributed as soon as possible when we receive the supplementary funding for salaries from Baghdad."

According to the statement, the Kurdistan Regional Government appreciated “the patience of the Kurdistan Region employees regarding the delay in salaries, stressing that their rights will not be waived in any way.”

GOLDILOCKS: ANALYSIS ABOUT THE NEWS : "The Central Bank of Iraq is considering establishing a leasing company with local and foreign participation",, 16 DEC

 GOLDILOCKS

Restructuring the economy  ✔️

Increasing currency movement ✔️

Expanding currency demand ✔️

Eliminating auctions on the black market ✔️

Yes, Iraq is checking these off...

© Goldilocks

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ANALYSIS ABOUT THE NEWS : "The Central Bank of Iraq is considering establishing a leasing company with local and foreign participation"

A leasing company can indirectly affect a country's currency by influencing the flow of capital within the economy, primarily through its role in facilitating business investments by providing access to assets without large upfront costs, which can impact factors like the balance of trade and demand for the local currency. 

Key points to consider:

Stimulating business activity:

By making it easier for businesses to acquire equipment through leasing, a leasing company can encourage investment and stimulate economic growth, potentially leading to increased demand for the local currency as businesses expand operations and make international transactions. 

Impact on trade balance:

If leasing facilitates increased production capacity for export-oriented businesses, it can positively affect the trade balance by boosting exports, which can strengthen the currency. 

Foreign investment:

When foreign companies utilize leasing services within a country, it can attract foreign capital, further increasing demand for the local currency. 

Currency fluctuations due to international transactions:

If a leasing company has significant international transactions, fluctuations in exchange rates can impact their financial results, which could indirectly affect the country's currency. 

For Iraq, this could produce stability for their currency values. Normally, this type of opportunity creates minimal exchange rate changes, but Iraq is moving from a programmed rate to a exchange rate that they can defend.

© Goldilocks

DINAR REVALUATION: How Iraq's New Leasing Company Could Impact the Potential Value of the Dinar!#IQD

 

Baghdad and the region reach an agreement regarding the release of salarie, 16 DEC

Baghdad and the region reach an agreement regarding the release of salarie

The Federal Ministry of Finance announced today, Sunday, that it had reached an agreement with the Kurdistan Region regarding the release of salaries for employees and retirees in the region.

The Ministry of Finance said in a statement: “The Minister of Finance, Taif Sami Mohammed, received today, Sunday, a delegation from the Kurdistan Regional Government headed by the Minister of Finance, Awat Janab Nouri, Omid Sabah, Head of the Council’s Diwan, Amanj Rahim, Secretary of the Council, Faris Issa, Head of the Region’s Representation, Abdul Hakim Khosro from the Follow-up and 

Coordination Department, Ribaz Abbas Mahmoud, Advisor to the Ministry of Finance, Kofan Tahseen, Director General of Accounting, Abu Bakr Abdullah, Director General of the Budget, Maryam Othman, Director General of Retirement, and Abdullah Ramadan Marouf as a financial expert, to discuss the salaries of the region’s employees and retirees.”

The meeting witnessed an agreement, according to the statement, on:

First: Sending a technical delegation from the Accounting Department in the Federal Ministry of Finance to the Ministry of Finance in the regional government with the aim of assisting them in amending the monthly audit balances related to salary and retirement disbursements in accordance with the Accounting Department’s Circular No. (2421) dated 1/30/2024.

Second: Based on the directives of the Prime Minister, the Accounting Department has taken the necessary measures to release the salaries of the region’s employees for the month of November, starting from today, and the rest of the treatments and observations will be completed in coordination with the ministerial team.

Third: Carrying out the necessary transfers to address the financial violations related to retirees’ entitlements, amounting to (430) billion dinars, based on the provisions of Articles (5/First) and (77/First) of the Federal General Budget Law No. (13) for the years (2023, 2024 and 2025), and based on the directives of the Prime Minister.

Fourth: The remaining comments will be addressed in coordination with the technical ministerial team within ten days, starting today, December 15. In addition to reviewing the work of the committee formed pursuant to Diwani Order No. 24660, which requires the presence of representatives of the region on the aforementioned committee.

Fifth: The region is committed to disbursing the salaries due for the month of October funded by the Accounting Department, and continuing discussions and follow-up with the Committee of Diwani Order No. 24660, to study the issue of including the region’s retirees in the State Employees Retirement Law for the year 2019.