Economic System – Avance Economico Sat, 15 Jan 2022 08:16:44 +0000 en-US hourly 1 Economic System – Avance Economico 32 32 From the hotbed of conflict and confrontation to the area of ​​cooperation and regional integration Sat, 15 Jan 2022 08:16:44 +0000 The map of crises, wars and conflicts that threaten world peace and stability marks the Middle East and the Arab world in red, indicating that it is considered a center of tension and enduring confrontation, for the expansion and ignition. it suffers from a series of complex conflicts over the decades. This characterization derives its […]]]>

The map of crises, wars and conflicts that threaten world peace and stability marks the Middle East and the Arab world in red, indicating that it is considered a center of tension and enduring confrontation, for the expansion and ignition. it suffers from a series of complex conflicts over the decades.

This characterization derives its logical character from the geopolitical position of the region as a bridge between East and West; This makes it easy to be an intermediate carrier environment for the transmission of major civilizational changes in the world as well as conflicts within them, which explains the persistent references to the historical background in the interpretation of such reality.

However, these references are not enough to place the facts in the light of the many experiences of other countries, which had to face serious geographical and historical difficulties, resulting in major wars and bloody conflicts, but ultimately leading to civil peace, security and have found their way. Sustainability, cooperation and social integration.

This makes it possible to assess the potential for change in the Middle East, notwithstanding the contradictions, because it is the golden age of the great civilizations of the beginning of history, the opening of the era of modernity, without achieve a rapprochement between its heritage and the essence of formalized modernity. Since then has been adopted in its new regimes. , Considering the role of the interference of external factors in the development of state policies, deepening internal contradictions and turning them into conflict factors that reproduce the crisis.

The nature of the strategic region as a crossing point for cross-fertilization, potential for aspirations, for the exchange of ideas and ideologies, not just for inter-trade and the exchange of goods and the circulation of travelers and explorers. Known in About human values ​​and the concepts and experience of nations.

The legitimate question therefore is whether the conflict, rivalry, instability and continuing turmoil and crises that afflict our region are an inevitable fate, or whether the experiences of peoples and nations in other parts of the world are what we are experiencing. . Were able to go from and beyond and chart a completely different path to them, and managed to transform into creative role models to emulate.

Will our people have to define their future for alternative choices that will place them in the ranks of countries and developed countries?

In Iraq, we have the right to approach this question with the utmost responsibility, before trying to engage our brothers and neighbors in the search for answers.

It was clear to us, without hesitation, as we ask ourselves such a fatal question, that all the conditions and requirements for the leadership of our region, from a turbulent epicenter that threatens peace and stability, are on the path to positive change. An open space for growth, development and fruitful cooperation between the environment and its inhabitants, and a bridge for communication with peoples and other nations.

The wealth of our region, its human resources, its historical and civilized depth are sources for it to realize itself, to reconsider its alternatives, to mobilize its creative energy and to mobilize potential forces. , and advancement and progress in all areas to restore its former status which made it a thriving human beacon.

What inspires us when we consider such a historic change are the contemporary experiences that have been able to overcome their backwardness, their bloody conflicts and the poverty of their natural resources, to transform them into models of progress, development and economic development and social. . , and become present on a global scale.

We can cite the experience of Singapore, which in the middle of the last century was the epicenter of dangerous epidemics, a scene of armed gangs and mafias and a center of organized crime, and thanks to the vision of its founder Lee Kuan Yew . , it has also become one of the most economically, socially, technologically and humanitarianly developed countries. It also highlights South Africa’s pioneering experience in ending the heinous system of apartheid, its adoption of a free and economically developed democratic model, and the effects of the previous regime and its vestiges.

Rwanda offers another example of change and transformation. After the genocide, which was considered one of the greatest racist massacres and claimed the lives of nearly three million people, it moved towards completing its democratic transformation and building political stability. and economic prosperity in two decades. was able to move forward. There are many examples and models of success at this stage in South America, East Asia and Eastern Europe.

Do not all these experiences certainly confirm the capacity of our peoples and our countries to design models, characterized by a balance between natural wealth, capacities, human resources and historical, cultural and knowledge experiences. For himself who brings him to the countries and peoples who preceded him in his choice, and who has overcome all the elements and all the forces that brought him back to his place?

We have all the ingredients for this kind of historical transformation: vast sources of wealth, great human resources of young men and women with creative energy, we have many similarities and a historical cultural heritage which together represents a new departure. are sources of inspiration.

What we need is a vision and a common will to create a new reality, the basis of sustainable communication based on economic integration, the exchange of benefits and interests, and the strengthening the links between our peoples. and to establish a common security system and a unified, efficient and prosperous economic system developed by a political decision based on respect for the supreme national interests and the good intentions of each party.

We must highlight what promotes our integration, promotes the sharing of our experiences, makes our sharing a source of strength for us and helps each of us to support the progress of our field. Compensate for weaknesses with the strengths of others.

We must trust our choices in everything that strengthens our unity, brings our paths closer together and adopts dialogue as a mode of dispute resolution.

In the years of opposition to the old regime, we dreamed of a separate Iraq, a free and democratic Iraq that respects human beings, ensures the dignity of its people and becomes the cornerstone of the construction of regional integration. .

Today in Iraq, we see two options:

To be the basis of a conflict between regional and international powers or a bridge of communication and integration between the peoples of the region.

Our vision is that Iraq, rising above its depression, overcoming its wounds and coming to terms with itself, with the support of its brothers and neighbors, will unite the project of a unified, reconciled and cooperative Middle East. The living is able to transform into reality, and that it will transform into a positive factor for the restoration of Iraq and will help to maintain its rebirth.

We have fulfilled all our commitments during the period of our transitional government, in the presence of brothers, neighbors and friends of Iraq, laying the foundations of this vision enshrined in the Baghdad Conference for Cooperation and Partnership, and we have expressed our sincere intention is to move forward.

Experience has shown that there is enormous potential for security integration at the level of countries in the region, and that there is an urgent need to connect these countries to a network of road and rail transport lines, and that it is increasingly needed to connect power systems, and for cooperation in energy, gas transmission and mutual investment.

But before that, the region must dedicate resolution initiatives, expand bilateral and collective dialogues, express mutual goodwill to resolve crises and remove any influence outside the countries of the region in the formulation of the necessary solutions. The wanted.

The world has been through stormy changes. Today we live in a totally different historical time, in which people’s interests have become more interconnected and integrated, and where deeper dialogue and solidarity are needed in all important areas.

Our region is linked by common interests that include many areas, which are expanding with the development of relations between our countries. We can invest in commercial, agricultural and industrial projects to make it a major hub in the modern world, as we were in the old world, and we face great common challenges such as terrorism, poverty, drought and social and environmental issues. . . Second, which imposes joint cooperation on us to reduce its effects and eliminate its consequences forever.

Our people deserve much more than they are, and they have given, they are capable and have the necessary will to change, to contribute to the development of human civilization.

Experience has confirmed that the will of the leaders of the countries of the region is also ready, and that the will is ready to generate the sincere and frank sympathies that unite us. We must move from stagnation to crises, circumvent them and perpetuate their causes, consecrate common interests and integration within the framework of recovery and prosperity.

RBI Governor-Led FSDC Subcommittee Examines Economic Situation Thu, 13 Jan 2022 13:00:00 +0000 The FSDC sub-committee headed by Reserve Bank Governor Shaktikanta Das reviewed the economic situation in the context of the COVID-19 pandemic on Thursday and decided to closely monitor ongoing developments with a view to ensuring the financial stability. The Financial Stability and Development Council (FSDC) Sub-Committee (FSDC-SC) meeting was held by video conference and brought […]]]>

The FSDC sub-committee headed by Reserve Bank Governor Shaktikanta Das reviewed the economic situation in the context of the COVID-19 pandemic on Thursday and decided to closely monitor ongoing developments with a view to ensuring the financial stability.

The Financial Stability and Development Council (FSDC) Sub-Committee (FSDC-SC) meeting was held by video conference and brought together all financial sector regulators including SEBI, IRDAI, PFRDA and IBBI.

“Members have resolved to closely monitor ongoing developments and to act proactively to ensure that financial institutions and financial markets remain resilient in the face of the challenges posed by the resurgence of the pandemic,” the RBI said in a statement. communicated.

The subcommittee reviewed major developments in the global and national economy as well as various segments of the financial system and discussed members’ assessments on the emerging scenario of the third wave of the pandemic.

Among other things, he discussed various inter-regulatory issues and issues related to the use of Aadhaar-based e-KYC and Aadhaar enabled payment system by regulated entities.

It also reviewed the activities of various technical groups under its remit and the functioning of State Level Coordination Committees (SLCCs) in various States and Union Territories.

The meeting took place in the presence of TV Somanathan, secretary of finance and secretary of the expenditure department; Ajay Seth, Secretary, Department of Economic Affairs; Tarun Bajaj, Secretary, Ministry of Revenue; Rajesh Verma, Secretary, Ministry of Commercial Affairs; Ajay Prakash Sawhney, Secretary, Department of Electronics and Information Technology; and Shashank Saksena, Secretary, Financial Stability and Development Board.

Other members of the subcommittee, including Ajay Tyagi, chairman of the Securities and Exchange Board of India (SEBI) and Supratim Bandyopadhyay, chairman of the Pension Fund Regulatory and Development Authority (PFRDA), also attended the meeting.

In addition, RBI Vice Governors Michael Debabrata Patra and T Rabi Sankar; and Executive Directors OP Mall, JK Dash and Rohit Jain attended the meeting.

Vandita Kaul, additional secretary represented the financial services department; T Alamelu, Full Time Member, Insurance Regulatory and Development Authority of India (IRDAI) and Navrang Saini, Chairman (additional charge), Insolvency and Bankruptcy Board of India (IBBI) attended the meeting on behalf of their respective institutions.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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