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Post by Ponee on Sat Mar 28, 2020 9:03 pm

Tishwash: Corona may revitalize the Iraqi economy .. Baghdad is on the cusp of exemptions from foreign debt payments

World Bank Group President David Malpas said on Monday that the bank may harness up to $ 150 billion in resources over the next 15 months to help developing countries fight and recover from the Corona virus pandemic, while calling on G20 leaders to allow the poorest to suspend all debt payments


In a statement to the finance ministers and central bankers of the Group of Twenty countries issued by the World Bank, Malpas called the creditor countries in the group to allow the poorest countries to suspend all bilateral debt payments while fighting the virus.
He said the poorest countries should be allowed to focus their resources on health measures in the face of the crisis.


“I call on the leaders of the Group of Twenty to allow the poorest countries to suspend all official bilateral debt payments, until the World Bank and the International Monetary Fund have completed a comprehensive assessment of their needs for reconstruction and financing,” he said in the statement.


Malbas said that the bank is currently preparing projects in 49 countries to help fight the virus under a new fast-track credit facility, and decisions are expected this week on up to 16 projects.


He explained that the bank is consulting with China and other major countries to obtain assistance for the rapid industrialization and delivery of many of the medical supplies that countries need.


Iraq debt
A parliamentary committee in the Iraqi parliament revealed, at the end of last year, the foreign debts of Iraq, noting that it had reached the stage of the threat to the economic future.


Member of the Parliamentary Finance Committee, Ahmad al-Jubouri, told the official Al-Sabah newspaper that “the committee had previously suspended debt, especially foreign, in the 2019 budget, at a time when there is an obligation to continue debt as it was present during the war against ISIS gangs in the governorates of Nineveh, Anbar and Salah al-Din.”
He pointed out that “debts, especially foreign affairs, amounted to 125 billion dollars.”
He warned that “its survival portends a danger to the economic future of Iraq,” noting that “there are 20 paragraphs of debt that will be in the 2020 budget.”


The International Monetary Fund said, last year, that Iraq’s debts worsened during the past years, where they were 6 years ago 73.1 billion dollars, and rose in 2014 to 75.2 billion dollars, and in 2015 they became 98.0 billion dollars, while two years ago it was 114.6 billion dollars, to rise In the year 2017 to $ 122.9 billion.  link



JSL:  you know at this point after 11 years I decided this isn’t going to happen according to logic or sensibility. been trying to follow that pattern all these years. I just think like DAZ and PAPERBOY always said One night for no reason whatsoeverthey’ll just turn it back on just because they want to. therefore it could happen anytime. You can’t figure it out!   From now on that’s my Story and I am ah stickin with it…lol

Freetown:  I just read an article about Wuhan. They are lifting the lock down April 8. This is good news. Light at the end of the tunnel.


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Tishwash:  The currency market in Sulaymaniyah opens its doors to citizens for five hours


On Tuesday, the Sulaymaniyah currency market opened its doors to citizens for five hours.
And the currency market began to reopen its doors to the citizens for a period of 5 hours a day in the city of Sulaymaniyah and the Kurdistan region on Tuesday 3/24/2020.


The Ministry of Interior in the Kurdistan Regional Government decided to allow banking shops to open their doors to customers for a period of 5 hours a day, starting today in the cities of Erbil, Sulaymaniyah, Dohuk, Halabja, and the Karmyan and Raprin administrations.


According to the decision, these markets will open their doors daily from 11:00 a.m. to 3:00 p.m., in order to convert currencies for commercial purposes, and in conjunction with that, the commercial movement continues between the region and abroad. 

 link

03.28.2020

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