The former government had handed the new administration empty coffers, leaving them with only $300 million in Iraq’s treasury. Iraq’s budget depends on oil, but there are many other non-oil resources that can be included to budget such as taxation, utilities, customs, export, etc. Therefore, the salary crisis can be addressed if the government is… Read More
Tag: Politics
Allegations of Bribery at Libyan Political Dialogue Forum
By John Lee. A group of Libyan human rights organizations has said it is “deeply disturbed by reports of financial bribes offered for the purpose of obtaining political gain that purportedly took place during the sessions of the Libyan Political Dialogue Forum held in Tunis this month“. The group, which includes Lawyers for Justice in… Read More
HRW: Scrap Bill to Restrict Free Speech
Iraqi lawmakers are considering a draft law on information technology crimes that could be used to stifle free expression, Human Rights Watch (HRW) said this week. It says the bill includes vague provisions that will allow Iraqi authorities to harshly punish expression they decide constitutes a threat to governmental, social, or religious interests. More here…. Read More
Experts discuss fate of the Iraqi Dinar
By John Lee. At a webinar hosted by the Iraq Britain Business Council (IBBC) yesterday, a team of experts presented and discussed their insights on the Iraqi government’s recent White Paper, and on the challenges and opportunities facing the country. On the subject of the Iraqi currency, Frank Gunter, Professor of Economics at Lehigh University,… Read More
Libya Falls in Prosperity Index
By John Lee. Libya has fallen one place in this year’s Legatum Institute Prosperity Index, ranking in 149th place out of the 167 countries measured. The Index consists of 12 pillars of prosperity, built upon 66 actionable policy areas (elements), and is underpinned by 294 indicators. Denmark, Norway and Switzerland took the top three positions…. Read More
Iraq Increases Deficit to Pay Salaries
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq increases deficit to pay salaries The Iraqi parliament approved on November 12th the funding deficit law, entitling the government to borrow 12 trillion dinars ($10 billion) from internal… Read More
Why so few Women Work in Iraq
By Miriam Muller and Matthew Wai-Poi, for World Bank Blogs. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. What gets in their way? A closer look into why so few women work in Iraq, Jordan, Lebanon Less than 15 percent of women participate in… Read More
Biden and Iraq: A Chance to Address Past Mistakes
By Nabeel Khoury for The Arab Center Washington DC. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Biden and Iraq: A Chance to Address Past Mistakes A Biden administration is likely to change a few policies in the Middle East while keeping others… Read More
NOC to Withhold Oil Revenue from Central Bank
By John Lee. Libya’s National Oil Corporation (NOC) has said that oil revenues will not be transferred to the Central Bank of Libya (CBL) “until the Bank has a clear transparency in front of the Libyan people regarding the mechanism of spending the oil revenues during the last years.” The move follows a public disagreement… Read More
Successful IBBC Conference in Dubai
IBBC’s 5th Annual Iraq Conference in Dubai – Opportunity in Adversity The Iraq Britain Business Council (IBBC) was much praised at its conference on Thursday for pioneering in COVID-19 times by bringing together senior officials from Iraq, the UAE and the UK, prominent international and Iraqi businessmen, bankers and professional advisers as speakers and over… Read More