KTFA Members "News and Views" Saturday 7-11-2020

KTFA:

GMan:  This is huge. I believe we were told to look for this one.

Samson  Al-Kazemi: The time to waste money has gone nowhere and today is launching a new phase

7/11/2020 18:39:33

 Prime Minister Mustafa Al-Kazemi confirmed today, Saturday, during the opening of the Mandali border crossing, that the time for wasting the misplaced money has gone and today is launching a new stage.

Al-Kazimi said in a statement received by his media office, that "the Mandali outlet is an important outlet, but it has turned into a den and a crossing for the corrupt." He added, "The time for wasting money has gone out of place, and today we are launching a new phase," indicating that "the port is under the protection of our military forces, and it has the right to shoot anyone who violates the customs campus."

He continued: "We will work to automate the administrative aspects of customs to protect public money and fight corruption," noting that "there are (ghosts) present in the customs campus that blackmail the merchant and businessmen, and our message to them is that we will track them and rid the ports of them."

He explained that "the money is the money of the people, not the money of the corrupt, and today I directed the protection of the customs sanctuary, the implementation of automation procedures, and the pursuit of (ghosts)."

He continued: "powers have been given to the security leaders and the director of the ports to deal with the situation of the outlets," noting that "there are those who try to cover up to cover up and protect the corrupt, but we will proceed to restore the prestige of the state and the law, and it is an opportunity to start for the future."

Al-Kazimi added: "We need the solidarity of all Iraqis in order to move forward, and we will not stop fighting the corrupt."  LINK

Don961:  Photos: Al-Firdous Square, Baghdad, as you have not seen it before!

2020.07.11 - 23:10

It is noteworthy that the Municipality of Baghdad, in cooperation with the Central Bank of Iraq and the Association of Banks, undertook the rehabilitation and development of the square, including the establishment of a design that represents the Tigris and Euphrates rivers.  

(more pictures at link)  LINK

Don961:  The government begins implementing the steps of the White Paper and Parliament welcomes

11/07/2020 09:02:53 PM  Baghdad / extent

The Parliamentary Finance and Economy Committees welcomed the control of the security forces over the first border entry points (Mandali and Munthiriya). They said that these measures are part of the economic reform plan (the white paper) that the government has promised to implement.

(Al-Mada) revealed last week that Mustafa Al-Kazimi's government is preparing to implement a broad security plan to extend its influence on all border crossings because of the extent of corruption in the outlets, which is estimated at 12 billion dollars annually. 

The government loses control of six border ports on a daily basis from four in the afternoon until eight in the morning the following day. Armed parties also take advantage of unauthorized outlets, and corrupt goods, merchandise, and drugs, and even forbidden materials such as drugs, are entered into Iraq in coordination with influential figures, according to officials and observers who spoke to (Al-Mada) earlier.

Faisal al-Issawi, a member of the Finance Committee in the House of Representatives, said in a statement to (Al-Mada) that "the current economic situation needs radical solutions, not temporary patchwork, and therefore the House of Representatives committed the government to introduce economic reforms within sixty days starting from the date of the approval of the law of local and external borrowing ".

The circumstances of the financial crisis and the repercussions of the Corona Virus pandemic prompted the government of Mustafa Al-Kazemi to present the domestic and foreign borrowing law to be able to secure the salaries of state employees. 

Al-Issawi explains that "in the event that the government does not comply with these deadlines (sixty days), the Finance Committee in the House of Representatives will present a proposal for an economic reform law to change the direction of the economy from an economy dependent on the state's imports to a resource-generating economy for employment and development opportunities," considering that "reliance on oil revenues The distribution of salaries is a deviation that needs to be addressed in the Economic Reform Law.

Last June, Prime Minister Mustafa Al-Kazemi confirmed that his government prepared a white paper for the expected economic reforms, and took preliminary recommendations, which are being discussed before moving forward, pointing to “the need for complementarity between the government and the parliament to support these new reforms.”

The deputy from Anbar province confirms that "there is communication between parliament and the government through the cell of the economic crisis that formed earlier as it was agreed on the general vision of the economic paper," stressing that there is unity in "opinions and ideas between the executive and legislative branches on passing reforms".

The Council of Ministers had previously decided to form an emergency cell for financial reform, headed by the Prime Minister and membership of both the Minister of Finance, the Minister of Foreign Affairs, the Minister of Planning, the Governor of the Central Bank, the Advisers to the Prime Minister, the Secretary General of the Council of Ministers, and a representative of the General Secretariat of the Council of Ministers.

And the independent deputy adds: "We have now come up with a general perception of the white paper, and how it is directed by the government," adding that "however, there are interventions to divert the white paper path from a number of entities represented in extending the work of telecommunications companies."

(Al-Mada) revealed in its report on the twenty-third of last June that "the economic white paper is made up of reform packages that will be launched and implemented in the form of three phases. The first is short-term and is represented by the state's control of border ports and ports, and tackling the corruption of the currency auction and the smuggling of hard currency, Reducing the salaries of the three presidencies and solving the problem of state real estate. The report adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects." A member of the Parliamentary Finance Committee points out that "the security forces' full control of the (Mandali and Munthiriya) border executives is part of the reform plan adopted by the government, which was committed to implementing it before the parliament to save the economy."

The Joint Operations Command announced in a statement that "the Rapid Response Forces and the Popular Mobilization entered the border executives (Mandali and Munthiriya) and imposed full control and inspection of them," stressing that "the allocation of elite forces to maintain them permanently to combat corruption and eliminate it, implementing measures smoothly and in accordance with the law, and imposing state prestige ".

For his part, Mazen al-Faili, a member of the Economic Committee in the House of Representatives, confirms that "Parliament’s sessions at the present time have been disrupted due to the Corona crisis, which has made it impossible for us to discuss the measures of the government that I took in the recent period, especially the issue of outlets."

(Al-Mada) revealed last week that Mustafa Al-Kazimi's government is preparing to announce a security plan to extend its influence over all border outlets in the governorates, where the Finance Committee in the House of Representatives estimated the extent of corruption prevailing in the border outlets at $ 12 billion annually, due to the control of armed groups and clans over These ports. In a statement to (Al-Mada), Al-Faili shows that "the parliament's economic and investment committee demands the government with the participation of parliament committees to prepare economic reforms," ​​saying that "the government's move towards the outlets is a step in the right direction."

He adds that "tightening control by the security forces on these outlets would be a precursor to going to the other border outlets, controlling them and ensuring that their reve1 nues enter the treasury of a state."  LINK

Klumbus:  WOW  ....IS ANYONE PAYING ATTENTION!

4Cash:  Sounds like we are on tract for a special event in the near future. Keep it up PM Kazimi.
IMO

DELTA:  LIKE I SAID FAMILY ON CC  THEY STARTED PORT CONTROL ...MORE
GOOD THINGS ARE COMING ...

Don961:  The Iraq Stock Exchange trades 97 billion shares

Saturday 11 July 2020  Baghdad / Hussein Thagab 

The report of the Iraq Stock Exchange revealed for the first half of this year the trading of 97 billion shares at a value of 132 billion dinars, despite the challenges witnessed this year and the curfew measures due to the spread of the "Corona" virus.

And the Iraq Stock Exchange issued the report for the first half of 2020 and included stock trading indicators and a directory of listed joint stock companies - the first part, which includes data for 24 joint stock companies, as of December 31, 2019 received up to the preparation of this report.

Trading sessions

The Executive Director of the market, Taha Ahmed Abdel Salam, said: “The market organized (75) sessions during the first half of 2020. It is less than the number of trading sessions for the first half of last year, as the market did not organize trading sessions during the days of a complete curfew in compliance with the decisions of the National Committee Supreme Council for Safety and Health due to the outbreak of the Corona epidemic in the world, and below are the interruptions during the first half of 2020. "

Economic indicators

He added that "the number of companies listed on the Iraq Stock Exchange is (104) joint stock companies, while the number of companies traded in their shares is (65) companies," noting that "international economic indicators, local indicators and conflicting expectations for the movement of the global economy and the prices of oil, gold and currencies globally And international health indicators affected the overall indicators of global and developing financial markets, and the decrease in the number of sessions organized by the market during the months of March, April, May and June from the monthly average of 20 sessions per month due to the Corona pandemic and the lack of regulation of trading days of complete curfew has affected the size of the overall indicators of investor trading. .

Selling indicators

Abdel Salam pointed out that "the ISX60 market index for the prices of shares traded in the first half of 2020 decreased from 480 points in the month of January 2020 to 462 points in the month of February then to 444 points in the month of March and to 413 in the month of April and then to 424 in the month of May It rose to 434 in the month of June, "indicating that" orders to buy and sell shares did not stop after the Corona pandemic, and the indicators for the month of June were the best, especially on the purchase side, and sales indicators exceeded them. The ratio of the total number of shares traded to foreigners reached 14 percent of the total number of shares Traded. Its value reached 13 percent of the value of shares for the first half of 2020. "

Stock quotes

Abdel Salam indicated to "the decisions of the Securities Commission and the Board of Governors of the Iraq Stock Exchange, which included stopping trading activity in the Iraq Stock Exchange during the complete curfew due to the Corona pandemic for the period from March 17 to April 21, and reducing the number of stock trading sessions from 5 sessions to 3 Weekly sessions are organized on Sunday, Tuesday and Thursday of each week, starting from Sunday, April 26, 2020 until the end of May 2020, and reducing the percentage change in the prices of shares traded when decreasing from 10 percent to 5 percent of the previous closing price, as well as maintaining the rate of price change Shares traded at a 10 percent increase, closing the investor hall and preventing their presence, to prevent mixing and even further notice, in compliance with the decisions of the National Safety Committee due to the pandemic.

Brokerage firms

He cautioned, "The 42 brokerage firms deployed in Baghdad have traded remotely from its On-Line headquarters through the Iraq Stock Exchange System - remote trading, and the request to renew letters of guarantee for brokerage firms due to be renewed within a week during the partial curfew has not been decided. The brokerage firms' activities are stopped in line with the Central Bank of Iraq decision not to cancel any guarantee letter due during the curfew completely prohibited by the beneficiary. 

It is noteworthy that the Iraq Stock Exchange participated in the 25th anniversary meeting on the establishment of the European Union - Asian FEAS on Tuesday 19 May 2020 through the Zoom program with the participation of the members of the union, as well as participation in the training program organized by the Central Bank of Iraq and Iraqna Economic Consulting Company "credit rating requirements according International Agencies "and participation in the Iraq Finance Expo (IFEX) conference which was organized by means of modern meetings ZOOM for the days from 22-24 June 2020 organized by Frontier Exchange International Company, and provided the Iraq Stock Exchange Presentation alongside the Central Bank of Iraq."   LINK

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Samson:  Trump announces America's involvement in something that will happen in Venezuela

17:57 - 11/07/2020

US President Donald Trump said today, Saturday, that there is "a big event ahead in Venezuela," stressing that "America will be involved in it."

"Something will happen in Venezuela and America that will participate to a large extent," Trump said, in an interview with "Nutisias Telemundo", pledging "to care for the people of Venezuela, support anyone who is elected and supports the people as their leader."

When asked if the event was related to Juan, opposition leader Juan Guaido, the mother of Venezuelan President Nicholas Maduro, or with American interference, Trump replied, “It is freedom for the people of Venezuela. It is freedom. Venezuela was a rich country 15 years ago, and it was destroyed by two people. Its regime is terrible ... something will happen with Venezuela. This is all I can tell you." Then the host asked him again: "Through the United States?" To be answered: "We will be very involved."

This comes, days after the Venezuelan President, Nicholas Maduro, made adjustments to the senior leadership level of the Venezuelan Army, Navy, and Air Force. "I have decided, as usual, to partially prove and partially renew the exceptional team of military commanders who take over the senior military leadership of Venezuela," Maduro said at a military graduation ceremony in Caracas.

Last week, Venezuela celebrated the anniversary of independence, and Maduro denounced the US policy towards Caracas, stressing that it was increasing its aggression during the Coruna epidemic. He said, "The American administration not only stepped up the criminal sanctions that affected food and fuel, but rather came to deny the Venezuelans access to medicines and medical equipment during the outbreak of the epidemic."    LINK