Delta and KTFA Members Monday PM 5-4-2020
KTFA:
Purifiers: GREETINGS FAMILY……TONIGHT IQD UPDATE PHONE CC WITH DELTA, ANGEL-1 & MilitiaMan
---THIS IS A CALL IN ONLY CC---
7 PM EST 605.313.5164 PIN: 156996#
PLAYBACK: 605.313.5163 PIN: 156996#
DELTA: Urgent.. Ministry of Oil: Iraq's revenues from oil sold during April amounted to $1.4 billion
Note: Iraq needs $6.2 billion per month to pay salaries and ruling expenses such as ration, electricity purchase, etc.
DELTA: "Parliament announces that the voting session for the ministerial program and the government cabinet will be held next Wednesday evening"
Don961: The Minister of Finance and the Governor of the Central Bank stress the need to expedite the framing of immediate solutions to remedy the financial situation
Politics 04/2020 22:48 337
Baghdad Today _ Baghdad ,
Minister of Finance, Fouad Hussein, stressed on Monday the need to expedite framing of immediate solutions to remedy the financial situation.
The media office of the Minister of Finance said in a statement, "Fouad Hussein, the Deputy Prime Minister for Economic Affairs and the Minister of Finance, today, May 4, presided over an expanded supplementary meeting in the presence of Ali Al-Alaq, Governor of the Central Bank, Undersecretary of the Ministry of Planning, directors of Rafidain and Rashid Banks and the Iraqi Bank of Trade. The meeting was also attended by general managers of departments Budget, taxes, customs, retirement and public debt in order to complete government efforts in examining mechanisms to improve the economic and financial situation in order to secure the needs of the country, especially in advance of the preparation for the May allocations in light of the continuing low prices of Aft. "
The statement clarified that "the current cash deposit deposited by the government has been studied in banks and organizations that generate annual profits and how to restructure these funds and use them to bridge the current shortfall to secure the salaries of Iraqi state employees."
He added: "The meeting also discussed the government's obligations to pay internal debts." And the Ministry of Foreign Affairs, in addition to the need to finance some governmental institutions, given the privacy of their work.
And he stated that "in another axis of the meeting, they discussed how to provide legal cover or urgent legislative decision to secure the cash liquidity required for the future, whether by borrowing internally or externally to fill the shortfall in the financing process."
The Minister of Finance, and the Governor of the Central Bank, stressed the "need to overcome all obstacles and expedite the framing of immediate solutions to remedy the financial situation in the country, as the meeting reached the possibility of walking and advancing through internal solutions at the present time, provided that the government will consider other options in the coming months."
DELTA: THANK YOU DON FOR THE HARD WORK...........GREAT ARTICLE....THEY ARE READY TO START........ IMO
Samson: Iran replaces the riyal currency by the toman
11:58 - 04/05/2020
The Islamic Shura Council (Parliament) approved today, Monday, the draft monetary and money law, which provides for the exchange of the current riyal currency with a toman.
The first article of the draft law that was voted on by the parliament at its meeting on Monday morning, states that the official currency of Iran is the toman, which is equivalent to 10,000 riyals and 100 qiran (the smaller category of toman).
The first paragraph of the first article indicates that the exchange of foreign currencies against the Toman and the determination of the price of buying and selling foreign exchange is carried out through the Central Bank of the Islamic Republic of Iran within the framework of the prevailing monetary system, taking into account the monetary reserve and the country's pledges to the International Monetary Fund. LINK
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Samson: Việt Nam among safe economies after COVID-19: Economist
4th May, 2020
The Economist listed Việt Nam as the 12th strongest economy among 66 economies in its report on financial strength in the wake of the COVID-19 fallout.
The ranking is based on four measures of financial strength, which are public debt, foreign debt and cost of borrowing and reserve cover.
Việt Nam is in the safe group thanks to stable and strong financial indicators.
Accordingly, more than 30 emerging economies are facing great pressure, the worst being Lebanon and Venezuela.
Botswana tops the list with safe economies, followed by Taiwan and South Korea.
The Economist said that most of the economies were strong enough to overcome the pandemic. The 30 weakest economies was relatively small, accounting for only 11 per cent of the total gross domestic product (GDP) of the 66 economies.
The International Monetary Fund (IMF) estimated that to overcome the COVID-19 crisis, emerging economies need at least US$2.5 trillion from foreign sources or domestic reserves. LINK