KTFA Members "News and Views" Friday 6-25-2021

KTFA:

Samson:  "Fitch" amends Iraq's credit and financial rating

06/25/2021 15:37:29

 The "Fitch" credit rating agency announced the amendment of the rating of the State of Iraq to a stable condition, confirming its rating at the degree of "B-".

In its report, the agency stated that this amendment reflects the future outlook for Iraq's use of foreign reserves.

The agency expected a decrease in the debt ratio of GDP in Iraq in 2021 to 74%, before a gradual rise towards 80% in the medium term, noting that political risks internally and externally affect Iraq's credit rating.

In its report, Fitch expressed the possibility of stabilizing Iraq's foreign reserves in 2021 with the rise in the price of oil and a decrease in the current account deficit.  LINK

Samson:  US Senate delays revocation of Iraq war authorization

25th June, 2021

The US Senate postponed the vote to repeal the war authorization in Iraq until next July; The Democratic leaders agreed to the request of some Republicans to postpone the vote pending secret briefings with members of the US administration to see any possible repercussions of canceling the mandate on US national security.

The skeptical lawmakers wrote a letter to the chairman of the Senate Foreign Relations Committee, Bob Menendez, in which they said, "We must assess conditions on the ground in depth and consider the implications of repealing the 2002 war authorization for our friends," warning of any possible response by enemies of the United States. “Like ISIS and the Iranian-backed factions” due to the revocation of the mandate.

Republicans, most notably Senators Mitt Romney and Marco Rubio, stated that it is also necessary to consider "the potential political and judicial ramifications of easing the US presence in the region and the withdrawal of US forces from Afghanistan."

Menendez, the chair of the committee that was supposed to approve revoking the mandate this week, pledged not to put it to a vote before providing a confidential briefing session for the skeptics, and they also demanded that U.S. Defense Secretary Lloyd Austin and State Department Anthony Blinken give their testimony publicly before the committee to explain the implications of revoking the mandate, in addition to: Hold closed-door meetings with State and Defense officials and the Director of the Office of National Intelligence.

While Menendez indicated the White House's support for canceling the mandate approved by Congress in 2002, he said at the same time that he agreed to the Republicans' request for a postponement because he did not want the repeal vote to be a partisan vote, stressing the importance of the parties agreeing on an important issue from this. Type.

Postponing the vote on this project is not a sign of declining support for it. The Republicans opposed to it have long ago expressed their skepticism in light of their calls for another appropriate mandate to replace the aforementioned mandate, to confront the current threats to the United States.

The White House has expressed its openness to this proposal at a time when Democrats have indicated that the other authorization passed by Congress in 2001 to allow military operations in Afghanistan to confront terrorist groups is still in effect, and the White House can use it if necessary.

In addition, the US president has powers under Article Two of the Constitution, according to which he can launch military strikes in the event of a direct threat to the national security of the United States. Current President Joe Biden used this clause when launching military strikes on Iranian sites in Syria, while former President Donald Trump relied on authorizing the war in Iraq to launch a raid that led to the assassination of Quds Force commander Qassem Soleimani in Baghdad.

Last week, the House of Representatives approved the bill to repeal the war authorization in Iraq with a majority of 268 deputies and 161 opposition to it. The bill was sent to the Senate, which must approve it, before officially repealing it. Senate Majority Leader Chuck Schumer has vowed to settle the matter this year, saying, "The Iraq war ended more than a decade ago, and that mandate passed in 2002 no longer matters in 2021."

In light of the fear of some that canceling the mandate will negatively affect relations with Iraq, Schumer stressed that the United States will not abandon the relationship it has with the country and its people through this cancellation, noting that the reason for taking such a decision is due to the need to “deter future presidents from seeking refuge.” to judicial arguments to justify their military adventures,” he said.

The project has the support of a number of Republicans; Most notably, Senator Todd Young, who stressed that “repealing the war authorization would send a clear diplomatic message that the United States is no longer an enemy of Iraq; Rather, he is a partner.”

The Congress approved the authorization of the war in Iraq in 2002 to authorize the use of military force against Saddam Hussein's regime. He also approved the 2001 authorization immediately after the September attacks, which allowed then US President George W. Bush to launch military operations in Afghanistan to counter terrorist groups, and Congress does not intend to cancel the 2001 authorization anytime soon.

In addition to the mandates in 2001 and 2002, Congress also passed in 1991 a different authorization that allowed then-President George Bush Sr. to use military force in Iraq following the invasion of Kuwait, and Congress intends to revoke this authorization in the same vote to repeal the 2002 authorization.  LINK

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Don961:  Al-Kazemi: We raised the exchange rate, and the Iraqi parliament manipulated the 2020-2021 budget

Mustafa Al-Kadhimi, Iraqi Prime Minister - June 25, 2021 12:48 am

Mubasher: Mustafa Al-Kazemi, the Iraqi Prime Minister, stated that many budget decisions have been changed in Parliament and the 2020-2021 budget has been manipulated, and that there are those who do not want the government to succeed.

Today, Thursday, Al-Kazemi said that the government has filed an appeal against the budget before the Federal Court, and added, "I hope that the court will play its historic national role to correct mistakes," according to the official account of the Council of Ministers on "Twitter."

Al-Kazemi stated that the exchange rate was raised, but in exchange for that, $2.5 billion was put to support the poor, the social protection network, and support for food commodities, but there were those who tried to change the numbers in the House of Representatives.

The Prime Minister indicated that the electricity situation in Iraq is not satisfactory and that the problem is very complex, alluding to the waste of billions of dollars on electricity, and that the current government has revealed many projects that have been suspended for reasons related to poor planning and corruption.

He continued, "We revived some projects, and last week we opened one of the largest electrical stations in Samarra, and within months we will finish the second phase, bringing the total production of it to more than 1200 megawatts."

Al-Kazemi stated, "The age of this government is one year, not seventeen, and with this we faced all challenges in order to preserve the blood of Iraqis. Iraq was on the brink of a civil war or a war between two important powers in the region, and we came with this government in order to spare the blood of Iraqis and create hope."   LINK

Iobey777:  WOW!! Thanks Don! Just as FRANK said, they are piling on the articles and talking very LOUDLY!!! “ We RAISED the exchange rate,but in exchange for that, $2.5 Billion was put to support the poor, the social network, and support the food commodities!” PAST tense, IMO!!!

Samson:  Transportation is implementing its largest projects in Iraq

06/25/2021 08:07:28

 The Ministry of Transport / the General Company for Ports of Iraq has started implementing the Great Welcome Square project, which is considered one of the largest projects implemented by the Ministry in Iraq.

The Director General of the General Company for Iraqi Ports, Farhan Muhaisin Al-Fartousi, said, in compliance with Resolution 90 of 2020 issued by the General Secretariat of the Prime Minister, we have embarked on the implementation of the Great Welcome Square project, which is being implemented in the port of Umm Qasr on an area of ​​​​1.5 million and a half square meters and is one of the largest projects of the Ministry Transport in the country is taking place at an accelerating and escalating pace and according to the time schedules prepared for it.

The Director General added that the company had contracted with a local company to implement the Great Welcome Square project,  explaining that the construction of the square would be completed within two and a half years and would include infrastructure and muqarnas works. And he indicated that the arena will include the construction of twenty service buildings, including the one-window building, electronic transformation, electronic warning and monitoring systems, and truck entry and exit gates. 

He pointed out that the work of space brushes has been completed, and the heavy machinery for soil stabilization has reached advanced stages in its work for the purpose of entering into other terms of the project.

He added that the security fence with a length of (14.3) was completed earlier, a high percentage of which has been implemented and which will be monitored by cameras, noting that the project will include the construction of eight gates, four of which are for entry and the other four for exit.  LINK

ATPinfinity:  International Trade IMPLEMENTATION! ….IMO……IN A HURRY BABY!!!!!

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Samson:  The Minister of Finance answers Parliament's questions regarding the budget.. Get to know it

24th June, 2021

Presented Finance Minister Ali Allawi, on Thursday, an explanation about what the Finance Committee raised questions about the application of the budget, saying the ministry initiate procedures for the automation of ports through a sophisticated electronic system that will be applied soon.

The minister explained that the ministry is following up on the rise in prices in the markets, which accompanied the change in the exchange rate, revealing at the same time that the local market will soon recover. And the Media Department of the House of Representatives announced, earlier, the hosting of the Minister of Finance and the Director General of the Accounting Department. 

And the department said in a statement that Mawazine News received a copy of, that "the Parliamentary Finance hosted the Minister of Finance and the Director General of the Accounting Department regarding the implementation of the 2021 budget paragraphs and the automation of customs and border crossings."     LINK

ATPinfinity:  "...electronic system that will be applied soon."IMO   ".... the local market will soon recover." IMO   IMPLEMENTATION!!!!!!!!!!!