Is the world about a war of currencies or war started ?!

What was being put in narrow circles a few months ago is now a question that is expanding day after day. Is the world heading for a currency war? Or is the currency war already under way, and can the Sino-US trade conflict be a prelude to a massive economic downturn that drives both sides to take a qualitative step to win the battle by turning to currency war? And who is the biggest loser in that war if it breaks out?

Currency war is the password now in many economic corridors, and it is not a matter of examining the extent of its seriousness or economic impact, such topics have killed academic research, but that the international economy suffered catastrophic effects in some stages of development, and therefore humanity has painful experiences with That kind of war, and what is currently being seen, is limited to how the global economy can face the risks of that battle.

Can the bipolar leaders of the United States and China realize the fate of the international economy if they decide to go ahead with currency war, Which may mean that Khaya Is economic suicide the official choice?

Professor John White, former chairman of the Bank of England’s Advisory Committee, puts the question to the question: Does anyone have an interest in the value of the currency being high in the current global trade conflict? The question is answered by "no".

"It can not be said that the international economy is witnessing a war of currencies, but certainly the circumstances are more than ever prepared for that war," he says. "If you are pessimistic, I can say that we are moving in this direction.
"The big economies now have a strong currency, after the strong currency has been a sign of strong economy and improved performance, and the conviction now prevailing among many economic leaders and policymakers that a weak currency will boost economic growth gives the economy a preferential advantage On his trade rivals, the risk that if everyone joined to that conviction will be all losers. "

The US administration wants the dollar to be weak, the EU is also seeking a weak European currency, and Japan is not hiding its official policy to overcome deflation lies in weakening the yen, China wants the yuan More competitive to increase exports and reduce imports, and Britain is silent on the decline of sterling, which could contribute to increase exports at a time when the exit from the European Union many economic problems.

But what’s the problem with that? Answers d. David, the Bank of England economist, said: "There is no problem in devaluation per se if it is a result of changes in market forces, but the risk when it is deliberate or flawed is done deliberately."

He asserts to the "economic" that the US side was clear and frank in accusing China strongly and frankly, as well as Japan to a lesser degree, that they manipulate the value of their local currency, the yuan and yen to achieve preferential advantages at the expense of US exports.

He notes that US Treasury Secretary Stephen Manuchen welcomed the depreciation of the dollar while welcoming the best economic performance of the euro area in more than a decade. Not surprisingly, the euro against the dollar rose to more than $ 1.25. On the other hand, The European is very upset by the euro’s improved value, which hampers its efforts to overcome deflation and low inflation in the Eurozone countries.

"Under the circumstances, investors and hedge funds are very cautious and delay their investment decisions pending clouds, which means a drop in growth."

Concerns that a trade war could turn into a currency war are legitimate for many economists, but they believe that currency war has not yet officially broken out.

But some believe that the US economy may be better able to counter that war than others. Some even believe that Washington may have a real interest in moving the international economy toward a currency war to curb the Chinese yuan’s ambitions.

Concerns about China’s pricing of many international goods, mainly oil in yuan, concern the top White House economic officials, congressional leaders and US financial institutions. The dollar now accounts for about 85 percent of international trade transactions, and such a step could erode the currency’s centralization.

And some believe that Washington has an interest in weakening the Chinese yuan so much that it can not be priced for major commodities in international trade, and this will only happen through its defeat in a currency war, which China is seeking to avoid now .

Since 2016, there are notable Chinese steps to dismantle capital controls on the yuan, a prerequisite for making it an international currency. Although these steps contribute relatively to the promotion of international trade by promoting the use of the yuan beyond China’s economic borders, it is a future challenge for the dollar American.

"The Chinese central bank has pledged that it will not use the yuan as a means of a trade dispute with the United States, revealing China’s financial policymakers’ understanding that they will emerge losers from the battle of currency war," said Tina Brown, a banking expert. In that war, the Chinese yuan is in a vulnerable position, and Beijing will not have to repeat the experience of 2015 by injecting more cash reserves into the markets to maintain the value of its national currency from total collapse against the dollar.

This means huge erosion in its dollar reserves without a household It is to maintain the balance of the yuan. "
But if the United States can emerge victorious in that war, despite the losses, why not rush to ignite the currency war ?!

The current interplay in the global economy as a result of globalization largely hampers the ability of the United States to do so. Such a war will inevitably weaken the growth rates of the Chinese economy and weaken the import intensity of China from the United States. Means that the US economy is negatively affected by the decline of his opponent.

Investment expert Boris William said the United States would accept a relative devaluation of the yuan as a means of providing some support for the Chinese economy. But if Beijing’s financial authorities ignore US warnings that the yuan should not retreat from a certain level, the sensitive level is 6.7 yuan against the dollar The US strategy will change.

"The fear that the continued devaluation of the Chinese currency against the dollar will lead to a currency war is because each country will have a different reading of the reasons for this decline. While China will view it as a justifiable move, Given the conditions in the Chinese economy.

He explains that the other side, the administration of President Trump, will look at China’s position as a plan aimed at harming the US share of world trade. If the two sides engage in a currency war, the other economies will certainly suffer greatly.

He notes that a number of advanced industrial countries such as Japan, the European Central Bank and the Bank of England have used the logic of weakening their currency more money printing to encourage exports, so why deprive China of the practice?

Vulnerable farming families in post-conflict areas in Iraq’s Ninewa plains, west of Mosul, will be able to better withstand shocks thanks to a European Union-funded UN Food and Agriculture Organization (FAO) project that aims to increase household income while building, repairing and maintaining local infrastructure and creating communal and public productive assets.

The €6 million project funded by the Madad Fund – the European Union’s Regional Trust Fund in response to the Syrian crisis – is part of FAO’s Recovery and Resilience Programme. The programme contributes to reducing chronic, or acute food insecurity, malnutrition, poverty, and associated risks and vulnerabilities in Iraq’s agriculture sector.

“The European Union has responded promptly to the very urgent needs of the most vulnerable families that were affected by the conflict in northern parts of Iraq,” said Fadel El-Zubi, FAO Representative in Iraq. “Thanks to the support from the European Union, households will enhance their resilience and ability to cope with shocks by increasing their net earnings,” he said.

Cash-for-work to improve access to water

Through cash-for-work activities, 1 250 households will be able to earn an income, directly benefiting around 7 500 people. Critically, the results of this work will also enable farmers to access water for crop irrigation and livestock, through the rehabilitation and construction of water catchments, roads, river embankments and secondary canals.

“Once these important agricultural assets and irrigation infrastructure are restored, the project will provide water for 70 000 hectares of currently unproductive land that can be used for winter wheat crops, and the spring and autumn vegetable seasons,” El-Zubi said. “This means 30 000 vulnerable farming households (180 000 people) will be able to produce food on their land again.”

Many of the families participating in the cash-for-work component of the project have no other income. Participants include women and other marginalized groups, with the work benefiting the community as well as individuals and families.

FAO’s humanitarian response

As the Government of Iraq moves towards a focus on rehabilitation and recovery, humanitarian needs remain. Under the Humanitarian Response Plan 2018, FAO requires $10.2 million to assist 116 100 people in the areas of livestock, plant pest outbreak control and food security coordination.

Over the longer term, under the Iraq Recovery and Resilience Programme 2018-2019, FAO requires $76 million to assist 1.6 million people by restoring agriculture and water systems and revitalizing communities.

FAO’s focus remains on ensuring rural families have the resources to re-establish and secure their agricultural livelihoods and build their resilience into the future. FAO’s work, in close coordination with the Iraqi government, supports families returning to retaken areas, internally displaced families, host communities and refugees from Syria.

(Source: UN)

Iraq violates UN Security Council resolution on Iran nuclear deal: UN


Iraq is violating a UN Security Council resolution on the Iranian nuclear deal, a UN report said on Thursday.

The Secretary-General of the United Nations addressed the report to the Security Council, which contains many details of the violations of the Iranian nuclear agreement.

Among the violations committed by Iraq is the participation of Iranian military companies in a military exhibition held in Baghdad on March 10, 2018.

Qasem Soleimani’s repeated visits to Iraq also contravene UN Security Council Resolution 2231.

The representative of the United States of America to the United Nations commended the report of the Secretary-General of the United Nations, which for the first time demonstrated Iranian military activity in the region.

Russia’s delegate to the United Nations, Vasily Nabenza, said the United States delegate "focuses on the wrong part of the report, while he has to focus on the first part of it."

In the section to which the Russian delegate referred, the Secretary-General of the United Nations criticizes the American withdrawal from the nuclear agreement to which the European Union is still committed.

"We will continue to work to strengthen the nuclear agreement so that it can be preserved and ultimately successful," said Dutch delegate to the UN Karl van Ostrom.

Instead of focusing on the agreement, the United States delegate focuses on Iran’s role in the region without addressing Iraq and supporting Iran’s popular mobilization.

"Looking at the region, Iran supports the Huthis, Iran supports Hezbollah, Iran supports Hamas, and Iran supports the Assad regime," said US Deputy Secretary of State Jonathan Cohen.

In a more moderate tone than her American counterpart, British Permanent Representative to the United Nations, Karen Pearce, criticized at one of the meetings of the Iranian nuclear agreement, for the first time, the regional role of Iran.

"Iran is a mature and respectable civilization with legitimate security interests in the region and deserves its place in the multi-faceted world order. But Iran’s ways of protecting its interests often lead to instability and threats to its neighbors," Peres said.

But America is not only criticizing the British and European, but its representative at the United Nations calls on all countries of Europe, India and China to stop buying Iranian oil, and punish Iran economically.

Steps in the fight against money-laundering


Dr. Basem Ibrahimi
Money laundering is one of the most dangerous financial crimes being taken by gangs

the organization.

It means the process of re-entering the money obtained by means of criminal offenses against the law and legislation (dirty roads) to the economy again on the basis that it is clean money after being passed through a number of channels, including banks, especially in countries that
do not restrict the transfer of money from And to its economy.

The Iraqi economy has suffered during the past years from this phenomenon, especially as it was sometimes associated with the terrorist acts that hit the joints of the country and the economy in particular.

The AML which was created in accordance with this Act shall take measures that would eliminate this

The fight against money laundering and terrorist financing has become international, and international efforts have been increasing.

The lists of persons and entities accused of such crimes have been issued by entities such as the United Nations (enforceable), the European Union and the Office of Foreign Assets Monitoring Whose lists are non-binding, but the non-application threatens the political and economic interests of the country, which refuses to cooperate in the application of those

Iraq has developed in recent years the measures and policies taken in the fight against money laundering and terrorism financing and is following the updates issued in the international lists to take action against individuals and entities listed on those lists.

In this context, Iraq has established a committee called the Committee for the freezing of terrorist funds in accordance with international standards and its commitment to fight the financing of terrorism and has issued several important decisions which are calculated for this
national committee .

That the important steps taken in this context will be reflected positively on the overall international relations of Iraq, especially in the economic aspect as the economy is affected greatly by the results of the measures taken and their role in achieving the conditions of confidence and stability, which are one of the most important foundations for the stage of construction and growth that Iraq aspires in the new phase.

NATO works closely with Iraq to strengthen good governance in the Iraqi security structures

Over a hundred representatives from twenty ministries and institutions across the Iraqi government attended a workshop organized by NATO in Baghdad, on 24 to 26 April 2018. The focus was on best practices to strengthen transparency, accountability and good governance within the national security institutions and other government structures.

Brigadier General Francesco Giuliano, NATO Senior Military Officer in Iraq, underlined the impact of corruption on lasting security. “The effects of corruption are devastating for the state, as they cause defence systems to fail, ” he pointed out.  Transparent and accountable defense institutions are key to the stability of states.

In accordance with the NATO Building Integrity Policy endorsed by the Heads of State and Government at the NATO Warsaw Summit in 2016, the Alliance provides support to its members and partner countries to strengthen good governance and integrity in their national defence and security structures.

The seminar provided a forum for the Iraqi representatives to exchange views, including with  international partners, on how to tackle issues of corruption within their respective organizations. Following the military defeat of Daesh, the Government of Iraq has made the fight against corruption its top priority. The process of fighting corruption is complex.

Quoting the Iraqi Prime Minister, “fighting against corruption in our country is more dangerous than the war against terrorism,” Brigadier General Riyadh from the Prime Minister National Operations Centre said.  The participants also discussed about how to identify corruption risks, develop mitigation strategies and mechanisms of accountability and oversight, and strengthen professionalism and the culture of integrity in public institutions through education and training.

The fight against corruption requires a comprehensive approach. Against this background, the mentioned workshop featured the participation by representatives of other international organizations, including – amongst others – the United Nations, the European Union, and the International Committee of the Red Cross.

This initiative was part of a series of workshops organized by  NATO to boost cooperation between Iraqi civil and military institutions.  These events contribute to the wider NATO training and capacity building efforts aimed at improving the effectiveness and sustainment of the Iraqi security structures.

(Source: NATO)

The Government launches the Social Fund for Development

Baghdad / Al-Sabah
The Iraqi government and the World Bank Group in Iraq and the Poverty Reduction Strategy signed two memorandums of understanding to launch the Social Fund for Development and Emergency projects to support social stability and stability.

"These two projects represent an important start to strengthening basic services and creating a sustainable platform for conditional human capital in Iraq through monetary programs for citizens and the start of economic activity to create more job opportunities for the unemployed," Secretary-General of the Council of Ministers Mahdi Al-Alak said during a speech at the signing ceremony held in Baghdad.

"He said.
"The government, with the support of the World Bank, the European Union and partners from international organizations, has put together an integrated plan to balance the most important economic and administrative reforms to ensure the safety and well-being of the Iraqi citizen and develop the reconstruction and reform framework to address the effects of the financial crisis. All, particularly affected. "

For his part, the Minister of Planning Salman Jumaili said that "the fund corresponds to the projects of the strategy of poverty alleviation, and will pursue a curriculum for the next five years, where the selection of three governorates for the first year (Salahuddin, Muthanna, Dohuk) followed by (Nineveh, Baghdad, Babylon, and all the provinces of the country) for the next four years. "

The Minister of Labor and Social Affairs, Mohammed Shiaa Al-Sudani, pointed out that "support is given to stability efforts at the individual and social levels, particularly the recovery and social reintegration of returnees, as well as the support of vulnerable and disadvantaged groups through the implementation of policies and programs to provide jobs for citizens

and develop human resources from Through special programs of action and support for social network system projects, in particular the increased livelihoods of groups in the liberated areas ".

Trump’s envoy wanders through Mosul and searches several files

The US Embassy in Iraq said special presidential envoy Brett McGurk and Deputy Assistant Secretary of State Andrew Peake visited Iraq to discuss several files.

"The Special Presidential Envoy of the International Coalition Against Counterparty, Brett McGurk, and Deputy Assistant Secretary of State for Near Eastern Affairs, Andrew Beck,

visited Iraq to meet with senior Iraqi government and security officials and to see progress in stabilizing Iraq," the embassy said in a statement. After the liberation of its territory from the preacher. "

The statement added that "McGork and Beck, accompanied by US Ambassador to Iraq Douglas Silliaman, met in Baghdad with Prime Minister Haider Abadi, Speaker of the House of Representatives Salim al-Jubouri and other political and religious figures and security, and met the delegation in Erbil with the Prime Minister of the Kurdistan Regional Government of Iraq Nechirvan Barzani,

The ministers of the region, Qubad Talabani, where the meetings focused on ensuring the permanent defeat of Daash by strengthening the security measures on the borders of Iraq with Syria and plans to destroy the remaining sanctuaries of the Syrian side.

"During his visit, the delegation had the opportunity to learn first hand about the progress achieved in achieving stability in Mosul and the remaining challenges to restore normalcy to Iraq’s second largest city.

Mosul and visit Mosul University where US-funded work to eliminate the threat of explosives continues.

The United States and 25 other donor countries of the International Alliance have committed more than $ 834 million to the Mother’s Stabilization Fund (UNDP) to support the vital activities of stability in the liberated areas of control Daesh. "

"It is important for partners to implement their commitments to ensure full funding for UNDP’s stabilization projects this year," McGork said.

"We welcomed the commitment of 24 partners last month in Kuwait under the auspices of the European Union and the World Bank 30 billion dollars for the reconstruction of Iraq in the long term. "

The statement added that "the United States is committed to continuing security, political and economic cooperation with Iraq within the framework of the Strategic Framework Agreement between the United States and Iraq, and supports the United States Iraq unified, democratic and federal and prosperous, including a stable and effective Iraqi Kurdistan region."…%D8%A9-%D9%85/

Abadi: We look forward to reconstruction, development and development of the economy

He concluded his visit to Tokyo and held a number of agreements
Baghdad / Al-Sabah

The visit of Prime Minister Haider Abadi to Japan, which concluded on Friday, achieved another economic success and an important step towards activating many investment partnerships with the friendly country, especially following the decision by Japanese President Shinzo Abe to reduce the level of security risks in Iraq. Will allow Japanese companies to enter heavily to invest in Iraq.

Abadi’s meetings in Tokyo resulted in a number of important agreements, especially the completion of the Greater Basrah water project, the reclamation of land between the Tigris and Euphrates rivers in the irrigation sector, and the development of the electric power sector.

Abadi headed the official talks with his Japanese counterpart Shinzo Abe. The two sides also talked about the possibility of increasing the presence of Japanese companies in the conference on job creation in the presence of dozens of political and economic figures from Japan, the United Nations, the European Union and representatives of 30 countries and international organizations.

In Iraq in the future.
Al-Abbadi said during the conference that Iraq looks after the victory over terrorism to reconstruction and development and economic development and that it has the energies to do so, and that Iraq today looking forward to the future confidently,

at a time when the Japanese Prime Minister’s full support of Iraq in his aspirations for the future, He spoke in a rare language: "Just as you are launching in Japan the planet of Japan, Iraq will also be the planet of Iraq."

In response to Abadi’s offer of security stability, the Japanese prime minister decided to "reduce the level of security risk to enter the Japanese in a number of Iraqi provinces, leading to the entry of more Japanese companies to work."

Small business orientation


Mohammed Sharif Abu Maysam
Most studies point to the importance of small projects in expanding the production base and increasing exports in all global economies. These projects contribute about 46 percent of the world GDP.

Most researchers say the US experience is the product of the world’s most powerful capitalist system, with about 50 percent of the US GDP, while the European Union accounts for about 65 percent of the EU’s gross domestic product.

Another study shows that SMEs in Japan provide about 81 percent of jobs, and that the majority of the workforce in Germany works in about 3.6 million small and medium-sized enterprises.

"The economists agree on the importance of moving towards this type of projects in the country to create more jobs and expand the production base, which is what the current government intends to do, according to the Prime Minister at a press conference, which means that we are moving towards this trend, as well as opening the doors of large foreign investments to rotate the development .

Here, a very important issue has to be mentioned after the discouraging results in the Ministry of Labor’s experiences of unemployed loans and government initiatives aimed at providing loans in real sectors.

Such projects, and in all the major industrialized countries, have been nurtured by special care and sustained support from Governments as the main engine of economy and guarantor of national will for political and economic fluctuations in the world even in the most powerful capitalist systems in the direction of economic globalization.

Since 1953, the United States has provided a model for countries seeking to make the microenterprise sector an engine of their economies when it passed a special law guaranteeing the role of the state to support small enterprises and support them to overcome all financing and marketing obstacles.

The federal agency SBA supported these projects. About 20 million small projects have benefited from the agency’s support in 50 years by providing a volunteer or mentor for each project, as well as the intervention of the federal government as a buyer for the products of these projects.

In the German experience, the financial support of the German Development Bank was not the key to the success of the experiment, which brought about 3.6 million small companies. In the 1940s there were innovations that unleashed these projects, including the establishment of an institution to coordinate these projects and universities Scientific research, and practical applications, which had a great impact on the success of the German experience.

Press Release

We live in a very uncertain world, currently fraught with geopolitical tensions, social upheaval and economic ups and downs. For these reasons – and more – people around the world, and especially in the Middle East, are increasingly looking for second citizenships to protect their assets and, more importantly, ensure a secure and prosperous future for themselves and their families.

The motivations for seeking a second citizenship are ranging from a desire to avoid difficult and often painfully long visa application processes to a desire for the peace and stability that often eludes many countries.

Jeremy Savory, founder & CEO, Savory & Partners, one of the largest companies in the Middle East that provides citizenship-by-investment programmes, commented:

“There are certain countries in the world where it’s legal to obtain citizenship, provided you meet certain criteria, one of which is the financial contribution you need to make, [through] real estate, financial products, or a one-time investment, which is non-refundable.”

Right now, there are a lot of countries in this region where people don’t feel like they can travel freely into the Schengen zone in Europe, or to the UK or the US,” he says.

Other cases, however, are more unique. Savory & Partners has helped a Bedoon, one of the more than 100,000 officially “stateless” individuals that call the GCC home.

This wasn’t about getting a second passport. It was actually this person’s first passport. Trying to prepare a file for someone that doesn’t have much to go on in terms of showing they exist is very tricky,” he says of the case.

For some, having a second passport is nothing more than a sound financial decision. “We’ve had royal family members come to us and say that whenever they want to buy a property, they submit their passport copy, it says “HRH” on it and the price goes up,” Mr. Savory notes. “The cost of getting the passport will save that price increase.

Citizenship and residency programmes around the world are vastly different, each with their own requirements, benefits, timeframes and obligations.

Citizenships from St Lucia and Dominica, for example, can be obtained in a few months with investments from as little as $100,000 without any obligation to live there for any amount of time.

Permanent residency from countries such as Spain and Portugal, on the other hand, require investments of €500,000 ($623,000) and can take as long as ten years to process.

Perhaps understandably, the most in-demand citizenships are those for countries in the European Union.

The benefits that come with it [EU citizenship] are innumerable. Having said that, it’s priced accordingly,” Savory says.

In Malta you’re looking at not less than €1m ($1,23m) worth of investments when it’s all put together of which typically 55 percent – 75 percent is non-recoverable whereas Cyprus is €2m ($2.45m) in real estate of your choice as long as the paperwork process is correct.

An individual’s chosen second citizenship is largely based on their particular needs. An ultra-high net worth individual, for example, is likely looking for more than ease of travel.

An important distinction – which consultants at Savory & Partners often find themselves explaining to potential clients – is between citizenship programmes and residency programmes.

A residency programme, for example, will only lead to citizenship if one actually resides in the country and is able to demonstrate both a tangible physical presence in the country as well as a fiscal presence. In some cases, applicants need to pass language tests. These types of programmes can often take significant amounts of time to complete.

People should be transparent in the application, and there should be nothing to hide. That’s never truer than in today’s times when the topic of sovereignty is highly sensitive.

Additionally, Savory & Partners is very straightforward with potential clients about their chances of success – even if there aren’t any – which differentiates it from the many companies operating around the world that promise what they can’t deliver.

I think maybe sometimes clients come to our company because we can tell them ‘it’s not going to happen’, or that they need to do this and change that. There are a lot of companies that say ‘yes’ without actually knowing what the solution is or saying ‘yes’ and knowing full well that ‘no’ is the answer. Clients need to know they are getting qualified [expertise] and are aware of the situation,” Jeremy explains.

“We don’t take on all files because we are happy about the success rate we have and the high volume of files we have already. I don’t want to have a client that isn’t successful, especially if it’s something we could have avoided. We really invest our time and in-house due diligence policies to make sure the clients we take on get their citizenship. Contractually, if they don’t, we have to refund them the full amount of our fees.”

For those inclined to seek a second citizenship the timing is right. Affordability is there, although application checks are becoming more and more stringent. If you are rejected for a visa, then you are automatically ineligible for half the country programmes.

While this strong demand has led new countries – such as Montenegro, Armenia, Kazakhstan and others – to introduce or plan to introduce citizenship or residency by investment programmes, it has also brought with it problems that make finding the right citizenship by investment agent essential.

It’s getting tougher to obtain a second passport definitely, but I think that gives me comfort. The higher levels of governance then the longer such programmes can continue to exist for those seeking second passports. I had to earn every government accreditation available, so I welcome increased industry scrutiny and regulation,” Mr. Savory concludes.

(Source: Savory & Partners)