Sunday, June 30, 2019

Editorial: More money to the Iraqi government?

Iraq needs money.

Iraq needs money?



In other news, Adel Abdul-Mahdi is demanding more money from the international community.  AP reports:

Iraq‘s prime minister says his country’s sacrifices fighting the Islamic State group mean it deserves greater support in its reconstruction efforts from the international community.
Adel Abdul-Mahdi made his comments Saturday during a meeting with a visiting U.N. Security Council members’ delegation, the first such visit to Iraq.

Iraq has one of the most corrupt governments in the world and has since at least the 2003 invasion.  It regularly ranks at the bottom of Transparency International's most transparent countries list.  He wants more money?  How does he intend to ensure that the money goes towards reconstruction when easily half of the reconstruction money has disappeared every year due to government corruption.  So how is Adel Abdul-Mahdi, an ineffective ruler at best, going to ensure that the money goes towards reconstruction?

Carla Sertin (OIL & GAS) reports today:

Iraq's oil ministry announced that the country exported 110.7mn barrels of oil in May 2019, according to the Iraqi Oil Marketing Company. It made $7.3bn in revenue from oil exports that month.
Oil ministry spokesperson Assem Jihad said that oilfields in central and southern Iraq produced 96% of the total amount exported, accounting for the same proportion of revenue.

$7.3 billion was made in the month of May for oil revenues.  The government of Iraq raked in $7.3 billion.  In one month.

And it wants more money from the international community?

Where does this money go?

It never goes to the less than 40 million Iraqi people.

Where does it go?

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