Delta and KTFA Members "News and Veiws" Thursday Afternoon 10-24-19
KTFA:
DELTA: Launch of the electronic platform Iraq Trade Point to provide information support to investors and businessmen
The Ministry of Commerce announced the launch of the electronic platform for the International Trade Point in the Department of Private Sector Development on the ground of the Baghdad International Fair.The Minister of Trade Mohammed Hashim Al-Ani in a statement said that Iraq International Trade Point in the development of the private sector in the ministry, concerned with providing information support and technical support to businessmen and investors to find a trading partner and open new markets for the productive and export sectors and small projects Through electronic promotion of products and services across global networks.
Electronic commerce represents an opportunity for cross-border trade exchanges, the statement quoted the director general of the private sector development department, Riyad Fakher Al-Hashimi, stressing its effective role in bringing about a qualitative change on the traditional economic system, both locally and internationally.
He added that the platform has an active role in the development of electronic business transactions in order to support Iraq's economy internationally through its membership in the Federal Federation of World Trade Points, noting that this needs to join efforts between ministries and state institutions to activate the use of electronic commerce tools, such as payment Electronic payment and electronic signature, as well as the need to establish a link in information systems between the institutions and bodies concerned to facilitate commercial transactions.
Popeye77: Just more proof that everything is moving right along, and it is only a matter of when..
2 Cents: ALL IN MY OPINION..
The rate changes at RD/RV.........the rate may also change at RI and I believe it will.....For example, RD/RV = .83-1.19, RI = 3.22+........At RI, Iraq is moved to Article VIII by definition and Forex and banks will get online.....At RD/RV, this may be "in country" only which means Iraq is not officially moved to Article VIII......
RD/RV happen simultaneously by definition.......RD/RV/RI could all happen simultaneously......I just don't think so......
I believe RD/RV, no RI, no Article VIII announcement --->budget passes at RV rate --->RI announcement at 3.22+ and move to Article VIII........budget purchasing power now multiplied 3-4x's.........This is where Iraq benefits.....
Remember, Iraq receives USD for oil.......the USD is converted to IQD through the CBI when authorized by the MOF in accordance with the budget....Until authorized, Iraq does not possess IQD per say......The RD/RV has to happen when Iraq "coffers" do not contain much, or any IQD.......The RI can then occur when they do or when approved in the budget......Is this perhaps why very little or any of the 2020 budget allowances for projects and investments have been authorized???? To date, the predominant authorizations appear to have been for payroll.
As to "after the first of the year", I didn't state that. It may be but I just think the RI will be after the budget is passed......I just want everyone to be aware of this very possible scenario so they can act accordingly.
Personally, if we see the RD/RV between now and 11/01 with no Article VIII RI announcement, I will exchange a little at a broker and continue to watch and wait.....
SandnSea: All I know is that Iraq makes a Turtle look like Speedy Gonzalez.
2 Cents: So reportedly most state banks have been evacuated after salaries were completely dispersed to prepare for demonstrations.....evacuating assets, files and computers.....The masses of demonstrators are already congregating in Tahrir Square....IMO, of course
******************
Samson: SMEs to be Tax Free for 10 Years
24th October, 2019
The Iraqi Government has said it will exempt small- and medium-sized businesses (SMEs) from income tax for ten years.
In a statement, it said:
“The government announced a draft amendment to Income Tax Law No. 113 of 1982 to exempt several groups on low-income from paying income tax.
“The proposed amendment also exempts small and medium size businesses from paying income tax for ten years.
“The government also announced that a dedicated team at the Prime Minister’s Office will be responsible for receiving complaints from citizens and will work to remove obstacles caused by red tape.”
The move is the latest in a series of reforms announced by the government in response to continuing protests in the country. LINK
************************
Samson: Abdul Mahdi announced through one of his ministers his refusal to resign and consider it an escape from responsibility
23rd October, 2019
Prime Minister Adel Abdel-Mahdi will not resign and the resignation is an escape from responsibility, Construction and Housing Minister Benkien Rikani said on Wednesday .
Rikani said in a statement reported by the Iraqi News Agency (conscious) and informed him (information), that "Prime Minister Adel Abdul Mahdi will not resign and is considered a resignation to escape responsibility under the difficult circumstances experienced by the country."
Rikani added that "the government has fulfilled most of the promises it made and the remaining ones will be implemented soon." LINK
Samson: Washington affirms its commitment to support Iraq's security and stability
2019/10/24 17:25
The US embassy on Thursday confirmed Washington's commitment to supporting Iraq's security, stability and sovereignty.
"The United States has always been committed to supporting the government and people of Iraq, rejecting violence and supporting the right of Iraqi citizens to demonstrate peacefully and the right of Iraqi media organizations and journalists to report and perform their work in a reassuring atmosphere," the embassy said in a statement.
The embassy added that Al-Hurra is an independent media organization in the United States funded by the US Congress. The US government has no right to censor the news it transmits or the content it broadcasts under its contract and upholds its right to freedom of expression like any other institution. Other media. " LINK
Jay: REAFFIRMING- USA backs Iraq's ................. security, stability and sovereignty?????
This is an AWESHUM continual CONFIRMATION. This is speaking directly to the INTERNATIONAL world. Breathe. Its coming. Gods' time.
***********************
Samson: Russia write off more than $ 20 billion in debt owed by African countries
24th October, 2019
Russian President Vladimir Putin has written off about $ 20 billion of African countries' debts.
"The Russian Federation is participating in an initiative to alleviate the debt burden of African countries," Putin said at the plenary session of the Russian-African Economic Forum in Sochi.
"Joint programs have been launched with some countries so far, including the use of debt funds to finance national economic growth projects," Putin said. LINK