KTFA Members "News and Veiws" Thursday PM 9-24-2020

KTFA:

Don961:  {Central} and {International Monetary} discuss fiscal and monetary policy

Thursday 24 September 2020  Baghdad: Morning 

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, discussed with the International Monetary Fund bilateral cooperation in the areas of fiscal and monetary policy.

A bank statement said, "Al-Sabah" received a copy of it that "the two sides discussed during the meeting, which was held in a visual communication manner, issues related to the economic situation in Iraq and the fund's willingness and desire to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans."

The Fund's team also offered the congratulations of the Fund’s Executive Director, Hazem Al-Beblawy, to the Governor of the Central Bank on the occasion of his assumption of the position.   LINK

Iobey777:  This is Huge news!!! PAY ATTENTION!!!

Samson:  Iraq succeeds in exiting the list of high-risk countries

10:52 - 09/24/2020

The Ministry of Foreign Affairs has succeeded in reinstating the activities of 169 Iraqi companies and institutions out of the 230 entities banned by UN Security Council Resolution 1518, which classified Iraq as a "high risk" country, while seeking to lift the ban on the rest of the entities.

Foreign Minister Fuad Hussein sent a message to his counterparts in the European Union countries, in which he was surprised at the inclusion of Iraq on the list of high-risk countries in the field of money laundering and terrorist financing.

The spokesman for the ministry, Ahmed Al-Sahaf, said in a statement reported by the official Al-Sabah newspaper, which was seen by the information, that “the foreign minister, after meeting with a number of his European counterparts, the policy and security official in the European Union and other high-level personalities, succeeded in gaining their votes and support to lift Iraq from The list is complete very soon”.

Al-Sahaf added, "The entities and institutions covered by the ban extend their work to various sectors such as investment, economy, industry and other sectors," stressing that "lifting the ban on them will add support to the internal economy and facilitate their cooperation with the government." LINK

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Samson:  In the video: Iraq is emerging from the list of high-risk terrorism

24th September, 2020 

More than twenty-five million dollars of frozen Iraqi funds that were in Germany were delivered to the Iraqi authorities, according to the Ministry of Foreign Affairs, which talked about escalating steps to recover the frozen funds abroad.

Explaining that she has witnessed international cooperation embodied by the lifting of the ban on one hundred and sixty-nine Iraqi institutions and companies out of two hundred and thirty, specializing in various industrial, investment and production sectors that were suspended over the past years, by a decision of the UN Security Council.

The ministry indicated that the return of the activities of these companies and institutions will be positively reflected in the investment, economic, industrial and production levels in Iraq.

According to the Funds Recovery Department in the Integrity Commission, the Iraqi funds frozen outside the country are estimated at more than eighty-seven billion dollars, especially since the Iraqi laws authorize the Funds Recovery Fund in the Integrity Commission to work on retrieving them, but these laws require, according to political statements, understandings, grievances and courts in order to recover them. 

Something that the current government may have seemed to work on through its diplomatic steps, which were represented by the foreign minister's tour Fouad Hussein To many countries European Union.

Meanwhile, the government of the current Prime Minister Mustafa Al-Kazemi With European support, especially after the visit of French President Emmanuel Macron, especially since European countries praised his policy of balance Iraq And confirms its support for the government Baghdad At all levels of development and investment, as well as levels of energy and reconstruction.  LINK

DeepWoodz:  Possible return of 87 billion dollars to Iraq??? Wow, now that’s a lot of dinars right now! Need to get that before rate change!

Logger81:  IMO, absolutely huge and needed before Iraq can move forward with its monetary and economic reforms.

DELTA:  GREAT ARTICLE THANK U SAMSON FOR THE HARD WORK...87 BILLION DOLLARS OF IRAQI MONEY ....IF WE ADD IT TO CBI RECERVE WILL HAVE CLOSE TO $150BD....

Samson:  Iraq exports more than 80 million barrels of oil, with revenues exceeding three billion in a month

24th September, 2020

The Ministry of Oil announced today, Thursday, the total oil exports and revenues achieved for last August, according to the final statistics issued by the Iraqi Oil Marketing Company SOMO.

According to the spokesman for the Ministry of Oil, Assem Jihad, the amount of exports of crude oil amounted to 80 million 494 thousand and 536 barrels  eighty million four hundred ninety-four thousand five hundred and thirty-six barrels, with revenues of 3 billion and 492  million and 164 thousand dollars,  three billion four hundred and ninety-two million one hundred and four Sixty thousand dollars.

Jihad said in a statement received by Shafaq News Agency, that the total exported quantities of crude oil for the month of August from the oil fields in central and southern Iraq amounted to 77 million and 505 thousand and 136 barrels, with revenues of 3 billion, 359 million and 181 thousand dollars, while the quantities were Exported from Kirkuk oil through the port of Ceyhan 2 million and 989 thousand and 400 barrels, with revenues amounted to 132 million and 983 thousand and 280 dollars.

Jihad explained that the average price per barrel amounted to 43,384 dollars, indicating that the exported quantities were loaded by 29 international companies of various nationalities, from the ports of Basra and Khor Al-Amaya, and the single buoys on the Gulf and the Turkish port of Ceyhan. He indicated that the quantities and revenues of the exported crude oil shipments that were marketed at a price premium to achieve additional revenue during the month of July amounted to more than 89 million, 711 thousand and 782 dollars in total revenue.  LINK

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Samson:  Washington: An Arab country will sign a peace agreement with Israel within two days

24th September, 2020

Kelly Craft, the US ambassador to the United Nations, expected, on Wednesday, that another Arab country would join the process of normalization with Israel within the next two days.

Kraft said in statements to "Al Arabiya" channel in English that the United States "plans to join more Arab countries, which we will announce soon," adding that "another Arab country will sign an agreement within a day or two, and the rest of the countries will follow suit."

Kraft said the Americans hoped that Saudi Arabia would sign a normalization agreement with Israel. She added, "We will certainly welcome the fact that Saudi Arabia will be next (on the path of normalization), but what is important is that we focus on the agreements and do not allow the Iranian regime to exploit the good intentions of Bahrain, the Emirates or Israel." Israeli media refer to Oman, Morocco, and Sudan as potential candidate countries to join the US-sponsored normalization agreements with Israel.

The Israeli "Walla" website stated that the negotiations that took place in recent days in Abu Dhabi between the United States and Sudan regarding the possibility of concluding a normalization agreement with Israel ended without a breakthrough.

The website stated that the main dispute between the two parties revolves around the scope of the economic aid package that Washington will provide to Sudan as part of the normalization process. For its part, Israeli Channel 13 quoted sources who said it was Sudanese, saying that the results of the talks between Sudan and the American delegation in Abu Dhabi were "very positive", and that there is a great opportunity "in the near future" to announce the normalization of relations with Israel.

According to the sources, the future agreement depends on the United States' compliance with Sudan's demands, which mainly include intensive economic assistance and its removal from the list of states sponsoring terrorism.

On Wednesday, the head of the Sudanese Sovereignty Council, Abdel-Fattah Al-Burhan, said that his talks with American officials in the UAE dealt with several issues, including Arab peace with Israel, adding that the results of those talks will be presented to the institutions of the transitional government. LINK