Frank26 Wednesday Night Video "Dessert" 2-10-2021
KTFA:
Frank26 Wednesday Night Video “Dessert”
2-10-2021
This video is in Frank’s Opinion only!
Intel starts about minute 41:00 Here are a few highlights:
Frank: In the Fab 4: The UST, The IMF, The World Bank
According to articles The IMF gave the approval in December to lift the 3 zeros from the currency. . The World Bank says in January on the 29th that they have given Iraq all their help to raise the value of their currency. And that is what they are doing.
Now the United States Treasury…they are done…they brought in their super computers 2 years ago and they recalculated, recalculated and recalculates and turned it all over to the IMF.
What does the IMF do? They tell everybody what to do with their currency. And Iraq was going to raise the value of their currency in December. What happened? Well instead they decided to lower the rate to bring in more 3 zero notes. Was that mission accomplished? It sure was. Now we know the game plan what comes next.
So UST-done, IMF-done and World Bank-done.
On Monday I told you to circle Feb. 8th on the calendar…It was historical…..I told you this was the day that Iraq stopped the auctions (the part that we wanted stopped) . Today Iraq is now saying they have a digital Iraqi currency now. A digital Iraqi dinar is INTERNATIONAL. Not just internal .
These are tell-tale signs that scream what they are doing.
FF: Our Firefly (Contact in Iraq) shared with us at about 6:55 this morning that today was the last and final day of the budget review. They are saying they will vote on it on Saturday.
Frank: IMO its already voted on.
FF: And all foreign loans in the 2021 budget will be canceled
Frank: This is brilliant…….The IMF wanted to give them a loan…but now they don’t need it.
FF: It could be a very nice weekend
Articles Frank talks about during this video:
FINAL ARTICLE #600
Representative of the World Bank: The Iraqi society is “youth” capable of advancement
Monday 08th February 2021 Baghdad: Hazem Muhammad Habib
The Resident Representative of the World Bank in Iraq, Ramzi Numan, confirmed that the bank supports the Iraqi government in several directions to get out of the current economic crisis, and that there is great support for the white reform paper adopted by the government in order to get out of the crisis, and while he called for comprehensive reform in the Iraqi banking sector In an interview with Al-Sabah, he emphasized that Iraqi society is a “youth society” that can rise in the country if its energies are properly and seriously invested. The following is the text of the dialogue:
In light of the current economic situation, the "Corona" crisis and the global economic crisis, what are the frameworks for the World Bank's cooperation with Iraq to help it out of this crisis?
It must be noted first, that the experience and history of the World Bank to work with the government and people of Iraq extends to a long history of projects that have been jointly worked on, but the current bank is currently working more closely with the Iraqi government to face emerging and accumulating crises that are added to the existing problems. In Iraq, and the consequent decline in oil prices, protests, the Corona pandemic and its health, economic and social consequences, which have formed a great burden on the country, and these conditions are the worst since 2003 for a single economy dependent on oil, and there is a fact that all of this left great burdens reflected on the ability of The Iraqi government in dealing with emergency needs.
The World Bank has set up a very large financial portfolio file for the projects it implements in Iraq, and this portfolio is directed to several destinations, whether reconstruction projects for areas liberated from “ISIS” gangs or to face the social crises that have arisen from this matter, in addition to some other projects that work On structural reforms in the economy, and we are working hard with the government to approach solutions to emergency crises and keep pace with the government in the reform white paper initiative that I put forward as well as the white paper proposed by Parliament, and here the World Bank and other donors enter in an attempt to support the government in this context, and stand on what It requires capabilities, whether material or technical, to carry out these reforms aimed at diversifying the economy in addition to protecting human capital in Iraq, as well as increasing non-oil revenues and opening opportunities for private sector investments.
Young wealth
Regarding the rate of growth in Iraq during the year 2021, that is, during the budget, are there prospects for cooperation to solve the Iraqi economic downturn?
We are seriously trying to support all reform efforts undertaken by the Iraqi government, and when we look at resolving the issue of deflation, this comes through creating job opportunities, and we believe that Iraqi society is a "youth society" in which youth constitute a basic wealth that must be built upon and given appropriate opportunities to enter The labor market is part of a large process that begins with education and other factors, and job creation is not necessarily through government appointment, which is witnessing great inflation and carries burdensome financial and economic consequences, but by encouraging investments in an appropriate environment and revitalizing the private sector, and restoring confidence between Citizen and government.
The World Bank seeks to support the Iraqi government in developing very sound fiscal and monetary policy frameworks that allow the continuation of financial and banking work, and on the budget, we are waiting for the Iraqi parliament to vote on it so that we can know the possible lines of support from us to the government, after scheduling the revenues and expenditures and what is the total deficit resulting from The budget, and what are the matters that the government will resort to to face this deficit, whether by internal or external borrowing, and how the government should pay off the debts owed by it and its arrears, and after that the World Bank will have a clear position in support with two parts of the investment through funded projects, and budget support, which is a part related to With the basic reforms that the government of Iraq is committed to, which are fundamental reforms that allow improving the country's financial and monetary reality in stages.
For example, the World Bank supported the unified pension law that was proposed in Parliament, and our approach in that law was to create a law between the two sectors The year The private sector allows benefits to be transferred between them, and it is one of the main incentives that push citizens to seek work in the private sector and not put pressure on the public sector, which reduces the burdens on the government.
White paper
What are your programs to address the distortions in the Iraqi economy, especially in the area of spending and restructuring it?
We are trying to negotiate with the government on major strategic directions, to see what are the basic steps in which we can cooperate, and we are talking about the (white paper) that the government put on the table which deals with basic problems, as well as about diversifying and increasing revenues away from oil, as the agricultural sector is important It is very important to Iraq that it must be re-activated and developed, and the electricity sector is witnessing a frightening material and technical waste, and the support we provide to the government in this field must be reconsidered, and all of this must be matched by consideration of increasing investment projects that create job opportunities, and increasing basic infrastructure projects to create opportunities. Work, and we at the World Bank support the move towards decentralization.
We believe that in light of the current crisis, the opportunity is now ripe to reconsider how to develop solutions to the accumulated crises in the country, and the International Finance Corporation (IFC) has a rapid financing mechanism, which is a mechanism it has launched to confront Corona and to help the country in this crisis, although it is mainly based on a health issue. But part of it is to support the state budget, and the World Bank continues to communicate with the Iraqi government to know its needs and ways to support it.
The Iraqi government pledged to adopt a set of implications for reforming the economy and signed a document during a World Bank conference in 2019, and the document crystallized later in what became known as the White Reform Paper, which is the result of cooperation between the Iraqi government and the World Bank, and it included three basic factors, which are economic diversity and the importance of Government and institution building away from interference and the climate of corruption, and the third and most important factor is human capital. The Iraqi citizen must have access to health, educational, educational, and educational services and integrated living conditions, which allows him to enter the labor market. We are looking forward to this full circle (institutions People and diversity).
Censorship and money laundering
Do you have a plan to strengthen banking supervision and restructure it in the public sector?
We have a technical effort through consulting services that we provide to the Central Bank in looking at the reality of the banking in Iraq, and we believe that the Iraqi private banking sector is still weak, and in general, the Iraqi banking policy must be reconsidered to improve the banking reality by going towards studying the market as well as increasing its investments, especially categories Young men who want to invest, start a new job, and go out with a different job than hiring.
What is the World Bank's role regarding financial enhancement and anti-money laundering?
The World Bank has a project that is being worked on with the Ministries of Finance and Planning, which is the Financial Management Regulation Project, and the project includes various items in terms of developing existing capabilities, whether at the level of debt management, information organization, systems automation, or at the level of anti-money laundering policies and looking at money transfers, all of these The reform steps that actually allow it to take root within the Iraqi institution are part of this project, and last week the Minister of Finance signed a grant from the European Union implemented by the World Bank to help improve the mechanism of financial control and transparency in financial work and in some basic Iraqi sectors such as gas and petroleum.
Signing the grant in the amount of $ 14 million, and it is added to a loan that the World Bank implements in the amount of $ 48 million. These two agreements (the European Union grant and the World Bank loan) are implemented by the bank in a unified manner with the Ministry of Finance and the Ministry of Planning. LINK
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Expert: The Formation Of A Committee For Economic Reform Will Begin To Restructure The Iraqi Economy
10th February, 2021
The expert on economic affairs, Raad Twaij, confirmed that the formation of a committee for economic reform is a good and unprecedented step to implement the provisions of the White Paper.
Twig said in a press statement that its independent follow-up: “The formation of a reform committee by the prime minister is an unprecedented step and an operational aspect of the white paper, and thus the beginning of structuring the Iraqi economy, analyzing the imbalances that are centered in the rentier economy and trying to rid the Iraqi economy of gaps and vibrations, especially the recent financial crisis and expectations. The World Bank deflationary rate of 12% this year.
He pointed out that "the rise in oil prices above $ 60 a barrel is considered a major contributing factor to support the reform wave and to complete the reform process."
Twig called for the Iraqi economy to be divided into two halves, the first part related to the losing sectors, how to reform it, the winning part, how to deepen it, and the need to rely on human development, which will contribute to expediting the reform process and building new capabilities and structures for the Iraqi economy. LINK