KTFA:

DELTA:  FAMILY...THEY LET THE CAT OUT OF THE BAG.........THEY ARE SAYING THEY ARE CLOSING TRADING FOR ONE WEEK BECAUSE OF CORONA...THEN  THEY ARE SAYING  COMPANIES TO COMPLETE FINANCIAL ADJUSTMENT...THANK YOU SUPER SAMSON YOU FIND ANOTHER HUGE AND AMAZING ARTICLE

Samson:  Iraq market: stop the organization of trading sessions and trading activity in securities as of tomorrow

16th March, 2020

The Iraqi Stock Exchange announced that it would not organize trading sessions and stop trading activity in securities as of tomorrow.

Translation....

Based on the decisions of the health crisis of 2020/3/15. The Board of Governors decided not to organize trading sessions and the suspension of stock dealings from Tuesday 2020/3/17 to enable brokerage and investment companies to complete financial adjustments between them - starting again on 2020/3/24.   LINK

Youndsc:  Hey Brother Delta im wondering, the CBI is doing so much talking but the GOI is so slow. Dont we have to wait for a new PM along with a seating cabinet before the CBI brings us a new rate??? I just find it confusing that the CBI seems to be so far ahead of the GOI.  

DELTA:  THE FINANCIAL DANGER REQUIRED CBI TO MOVE FASTER....

MilitiaMan:  Oh!!! Man!!! They have to have things adjusted within that time frame above!! Everything needs to be done and dusted by then!!! IOO, they'll do this with Mahdi ioo EOS!! ~ WOW SAMSON YOU ROCK!! ~ MM      PS.. in other words we are getting paid!!!

DELTA:  Al Hareth Al For Money Transfer

 To all our valued customers

We would like to inform you of the disruption of the official working hours of all branches of al-Harith Arab Financial Transfer Company in Baghdad and the provinces from tomorrow, Tuesday, March 17, 2020 until the ending of the curfew.

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DELTA:  Al Hareth Al For Money Transfer

Where is the money printed?

 The money is printed in the official government printing presses, which include the central exchange press, or the public minting and issuing of the product, and the printing process is done in a very private and confidential manner, and the cash authority determines its exchange rate after printing. Directly by linking it to a fixed value such as minerals such as gold, or hard foreign currency such as dollars or euros, and then the cash is issued for public trading through commercial terminals, until it reaches people and It's used in all public activities.

Samson:   Parliamentary finance calls for restructuring the state sectors and postponing the payment of foreign debts

16th March, 2020

On Monday, the Parliamentary Finance Committee called on the government to restructure and better organize the country's sectors and defer the payment of foreign debts.

"The government is required to restructure all its sectors and regulate them to control their expenditures, especially with the sharp decline in oil prices," said committee member Jamal Kouger.

Cougar called for "the necessity of estimating the price of oil in the 2020 budget according to current prices."  LINK

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Patrick73:  Iran`s fiscal year starts 21 March...and now probably Iraq ?
if nothing happens by then, we are in for a long wait...IMO

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Don961:  Crisis Cell decisions strict week curfew and free internet: stay home

2020-03-15

Follow Iraq:

The Crisis Cell government announced the problem to face the spread of the Corona epidemic in Iraq, today, Sunday, a set of new decisions stressing a curfew within the provinces and stopping movement between different cities.

A cell statement, seen by Yassin Iraq, said, “To prevent the exacerbation of the epidemic crisis in Iraq and to preserve the safety of our citizens from disease and in line with the recommendations of the World Health Organization, which requires taking all preventive measures and precautionary measures aimed at protecting people from the risks of the epidemic, and following previous decisions ”

The committee’s decisions stated:

The imposition of a curfew in Baghdad in a comprehensive manner, starting from Tuesday, 11:00 pm, March 17, 2020, until 11:00 pm, on Monday, 23 March 2020, and the suspension of official working hours in all ministries, governmental and non-governmental institutions, with the exception of the security, service, health, and authorized media With her work, diplomats and the commercial movement of goods and food.

The relevant authorities should conduct sanitation campaigns and health visits to areas identified by the health departments in Baghdad.

Governors are empowered to impose curfews in their governorates.

Suspension of flights from Tuesday 17 March 2020 to Tuesday 24 March 2020.

The Ministry of Communications is increasing the internet capacities entering Iraq through the companies contracting with it, ISP, and working to reduce prices for a month, which can be extended, and to give free capacities determined by the ministry.

Emphasis on stopping movement between governorates.

Emphasizing the honorable citizens in all governorates, following the procedures, medical directions and guidelines, including avoiding attending gatherings and mixing, and staying in homes except in cases of necessity.

The relevant authorities should implement the above decisions.   link

Samson:  Basra imposes a 7-day curfew

13:48 - 16/03/2020
Basra Governor Asaad Al-Eidani announced, on Monday, the imposition of a curfew in the governorate from this evening until Sunday morning to prevent the spread of Corona, indicating that the embargo has brought into service and security authorities.

Al-Eidani said in a statement, which received / information / a copy of it, "The crisis cell in Basra Governorate decided after its meeting to face the Corona crisis, imposing a comprehensive curfew for a week."

Al-Aidani added, "The imposition of a curfew in the governorate from Monday evening until Sunday morning to prevent the spread of Corona," noting that the decision induces security forces and municipal and health cadres to maintain services in the province.    LINK

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Samson:  Oil is declining again as demand is hit by the Corona Virus and the price war continues

16th March, 2020
Oil fell on Monday with the failure of an emergency cut from the Federal Reserve (the US central bank) to interest rates in calming the global financial markets afflicted by panic from the rapid spread of the Corona virus, while adding a price war between major producers to a growing supply glut.

Brent crude fell 2.07 dollars to 31.78 dollars a barrel by 0729 GMT, to continue a decrease of 25 percent recorded last week in the largest weekly decline since 2008. And opened a month contract closest benefit to rise, recording 35.84 dollars, but fell to a low level of 31.63 dollars. And US crude fell $ 1.38 to $ 30.35 a barrel after falling below $ 30 a barrel earlier in the session despite US President Donald Trump's pledge to fill the strategic petroleum reserve “from the end” in the world's largest crude consumer. "While this helps marginally, the policy regarding (the Strategic Petroleum Reserve) is dwindling compared to a market afflicted with the Coronavirus, a measure measured in months and compared to a price war that is expected to continue for several or more seasons," said Michael Tran, analyst at RBC Capital Markets. 

Tran explained that the strategic oil reserve stocks are 634 million barrels, which is only about 80 million barrels less than the capacity of 714 million barrels, and purchases from the government will only withdraw a global surplus for about 20 days, which is estimated by RBC. It amounts to four million barrels per day. The US central bank cut its target range for interest rates to near zero on Sunday in the second emergency cut this month, adding that it will raise its budget by at least $ 700 billion in the coming weeks in an attempt to calm tensions in the financial markets.

Oil prices came under enormous pressure on the demand and supply side, as fears of the spread of the Corona epidemic negatively affected demand, while fears of increasing supplies increased after Saudi Arabia raised its production and lowered prices to increase sales to Asia and Europe. This came after OPEC and Russia failed this month to extend a production cut agreement that had been supporting prices since 2016.  LINK

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Samson:  The US Federal Reserve ignites markets after the decision to cut rates to zero

16th March, 2020

The futures of the three major US indexes fell sharply (more than 4%) after the Fed decided to cut rates to zero

Also, oil futures contracts in the early Asian dealings also followed the US indices, Brent crude fell by 5% to $ 32.22 a barrel, and Nymex crude fell by 4% to $ 30.46 a barrel

While gold futures rose more than 2% to $ 1547 an ounce

It is noteworthy that the US Federal Reserve cut interest rates for the second time in less than two weeks on Sunday, in a new and extraordinary step to support the US economy amid the ever-expanding Corona Virus pandemic worldwide, and launched a 700 billion dollar quantitative easing program LINK

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Samson:  The International Monetary Fund allocates one trillion dollars to prevent the collapse of the global economy because of Corona

16/3/2020 15:43:52

The International Monetary Fund’s Director-General, Kristalina Georgieva, today called on governments to take additional financial incentive measures to prevent the threat of the spread of the emerging Corona virus from causing long-term economic damage.

In a letter posted on the International Monetary Fund website, Georgieva said that the global lending bank has received requests from about 20 countries to finance the programs and will follow up on them in the coming days. She stressed that the International Monetary Fund is ready to give a trillion dollars from the treasury to lend and assist the 189 member states around the world. "As the virus spreads, the need for a coordinated and synchronized global financial stimulus increases over time," according to Reuters.

On the monetary policy front, Georgieva said central banks "must continue to support demand and boost confidence by easing financial conditions and ensuring credit flow into the real economy." According to the latest statistic, on Monday, the total number of Corona virus infections worldwide exceeded 170,000, while deaths due to the same virus exceeded 6500 deaths, and recovery cases

reached more than 77,700 cases, while China remains at the top of the countries that suffer most from the disease, followed by Italy and Iran.  LInk