The technical adviser to Prime Minister Mohammed Sahib Al-Daraji confirmed on Thursday that the volume of investments in Iraq reaches about 60 billion dollars, while he revealed a decrease in the external debt to 9.8 billion dollars.
Al-Daraji said in a statement to the official agency and its follow-up (Mawazin News): “Iraq’s GDP exceeded $260 billion, which makes the ratio of external debt compared to the domestic product at a very low level,
which opens the door to a new stage of external financing, but on well-thought-out terms,” pointing out that “Iraq’s external public debt has witnessed a significant decrease, falling from $20.9 billion to $9.8 billion dollars.”
He stressed the importance of financing being directed towards productive projects capable of repaying their debts on their own, rather than focusing on consumer or unconstidered projects.
Regarding current investments, Al-Daraji pointed out that “the volume of local and foreign investments in Iraq is about 60 billion dollars, most of them in the real estate and housing sector, which is good,” stressing the need to strengthen the role of the Iraqi investor and support the diversification of investments. He pointed out that “there is a large monetary mass among citizens outside the banking system, which makes it economically useless if it remains stored in homes,” calling for “transferring these funds into investment projects that contribute to converting them into assets that support the national economy and promote sustainable development.”
Iraq's had restrictions on her currency and currency transfers. She hasn't been on the Forex in an international capacity.
Why?
Because...it has to do with the IMF...obligations...compliance and it has to do with currency transfers across the world for trade...
The central bank is talking like she's going international...
That sounds like having the ability to move her money, which is the dinar, across borders and to do trade.
It looks like Iraq has the ability to fully access the IMF's compliance with Article VIII and Article IV of IMF's requirements...which promote free convertibility of member currencies...It looks to me Iraq has gone as far as she possibly can in making an announcement...
Finance Minister Taif Sami confirmed on Wednesday the ministry’s commitment to implementing financial reforms to enhance non-oil revenues.
A statement from the ministry received by “Mawazine News” stated that “Minister of Finance Taif Sami received at the ministry’s headquarters, a number of members of the House of Representatives, and during the meeting, their requests and the requests of citizens were heard, as well as discussing the mechanisms for implementing the general budget, and following up the allocations of service and development projects, in addition to discussing ways to support the productive sectors and provide the necessary resources to improve the level of services provided to citizens.”
According to the statement, the minister stressed the ministry’s commitment to “implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability in accordance with the approved government programs.”
The statement continued, “The deputies, for their part, praised the ministry’s efforts in managing the financial file, and stressing the importance of strengthening joint cooperation to ensure the achievement of economic goals.” The statement concluded, “the parliamentary delegation included (Manal Al-Maslamawi, Rafiq Al-Salhi, Luqman Al-Rashidi Mudar Al-Karawi, Hassan Al-Masoudi, Fatima Al-Hawi, Al-Nashi, Sarah Al-Dulaimi, Mona Al-Jubouri, Faisal Al-Naili, Wafaa Al-Shammari, Suhaila Al-Sultani, Mustafa Al-Karawi, Amal Al-Nasiri, Osama Al-Badri, Ahmed Rashid Salmani, Bassem of Naghimsh Al-Gharbawi, Mahasen Al-Dulaimi, Hassan Al-Asadi).”
In the video transcript, the speaker expresses strong opinions regarding the state of American politics, particularly criticizing former President Donald Trump. The speaker argues that Trump’s style of leadership, which includes firing individuals without regard for their personal circumstances, demonstrates a lack of common sense.
They emphasize the impact of such decisions on ordinary Americans, highlighting the financial burdens that citizens face due to political mismanagement.
The speaker also reflects on the notion of Trump’s business acumen, pointing out that his success was largely due to inherited wealth rather than skill.
The overall tone conveys frustration and disappointment with the political landscape, urging viewers to recognize the implications of such leadership on society.
💔 Divisive Leadership: The speaker argues that Trump’s leadership style contributes to America’s division.
🚫 Firing Without Consequence: Criticism of Trump’s tendency to fire people without considering their personal situations.
💡 Common Sense Deficiency: The speaker claims that Trump lacks common sense, contradicting his own rhetoric.
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Taxpayer Burden: Emphasis on how political decisions ultimately affect American taxpayers.
📉 Business Misunderstanding: The assertion that Trump’s business success was due to inheritance, not expertise.
🔄 False Promises: Skepticism regarding Trump’s claims about taking control of Gaza and other geopolitical matters.
🏛️ Call for Awareness: A plea for people to wake up and recognize the reality of their political choices.
Key Insights
💔 Divisive Leadership: The speaker points out that Trump’s leadership style has exacerbated divisions within America. The tendency to publicize grievances and target individuals creates an environment of fear and uncertainty, which can alienate various groups within society. This division is not merely political; it infiltrates social and economic relationships, leading to a fragmented populace.
🚫 Firing Without Consequence: The speaker underscores the moral implications of firing employees indiscriminately. In many cases, individuals working in service sectors, such as airports, are unaware of the political affiliations of their colleagues. By firing employees based on perceived incompetence without considering their personal lives, the speaker argues that Trump demonstrates a lack of empathy and understanding of the broader consequences of such actions.
💡 Common Sense Deficiency: The speaker critiques Trump’s understanding of everyday issues, suggesting that his decisions often lack practical wisdom. This criticism extends to how Trump communicates his policies, which can come across as simplistic or naïve. The speaker believes that a genuine leader should possess the ability to navigate complex social issues with sensitivity and intelligence.
💸 Taxpayer Burden: A significant point made is that the ramifications of Trump’s decisions do not fall on him but rather on the American taxpayers. The speaker insists that any financial mismanagement or poor decision-making will ultimately be shouldered by the citizens, highlighting the disconnect between political leaders and the lives of ordinary people. This insight calls into question the accountability of elected officials.
📉 Business Misunderstanding: The speaker argues that Trump’s business background is misleading. While he may have experience in real estate, the speaker contends that his understanding of broader business principles is limited. This lack of multifaceted business acumen could lead to poor economic policies that do not take into account the complexities of the global market.
🔄 False Promises: The speaker expresses skepticism about Trump’s bold statements regarding international affairs, such as the claim to take control of Gaza. This skepticism reflects a broader concern about the feasibility of Trump’s promises and his understanding of geopolitical dynamics. The speaker suggests that the electorate must critically assess the viability of political promises, rather than accepting them at face value.
🏛️ Call for Awareness: The concluding sentiments urge the audience to remain vigilant and informed about political realities. The speaker highlights the importance of awareness in making informed choices at the polls. Understanding the consequences of political leadership is essential for a healthy democracy, and citizens must engage with the political process to advocate for their interests effectively.
In summary, the video presents a passionate critique of Donald Trump’s leadership style, highlighting his lack of empathy and practical wisdom while calling for greater awareness and responsibility among American voters. The speaker articulates a vision for a more compassionate and informed political discourse that prioritizes the well-being of all citizens.
The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity.
According to a press release from IFI, this groundbreaking initiative aims to enhance the integrity of the Iraqi financial system by ensuring cross-border payments originating from Iraq adhere to legal requirements, regulatory expectations, and global standards.
Designed for National Bank of Iraq employees, the training program is designed to:
Create a community of financial integrity experts at NBI to enhance the CBI’s efforts in effectively addressing significant illicit finance threats to both the Iraqi and global financial systems.
Facilitate and demonstrate effective implementation of global Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) standards in line with Financial Action Task Force (FATF) recommendations and guidance.
Promote a culture of financial crime compliance and risk management throughout NBI.
Ayman Omran Abu Dhaim, CEO at National Bank of Iraq, remarked:
“Ensuring the integrity of financial transactions is crucial for fostering trust and stability in both domestic and international markets. This comprehensive training program will ensure that NBI is a leader in promoting a culture of compliance and protecting the Iraqi and global financial system from abuse by illicit actors.
The blended training program will be delivered both live as well as online through IFI’s DOLFIN® platform. Key program features include:
In-depth, live training sessions led by experts from IFI and K2 Integrity
eLearning library featuring videos of experts covering core topics
Practical case studies focusing on real-world challenges and solutions
Resources and tools to support ongoing compliance efforts
Grant Kreft, Chief Executive Officer at Institute for Financial Integrity, said:
“At IFI we’re proud to deliver this important training to the National Bank of Iraq… This program represents a significant step towards enhancing the regulatory framework surrounding cross-border payments in Iraq, ultimately benefiting the broader international financial community.”
