KTFA Members "News and Views" Friday Afternoon 3-19-2021

 KTFA:

Samson:  Kurdistan Democratic Party announces the agreement to pass the budget

19th March, 2021

On Friday, a member of the Parliamentary Finance Committee for the Kurdistan Democratic Party, Bashar al-Kiki, announced that a political agreement had been reached to pass the budget.

Al-Kiki said in a statement, "We congratulate all the Iraqis that Erbil and Baghdad have agreed to pass the budget."

"A new phase of stability and coexistence between the components of the Iraqi people has begun," he added.  LINK

DeepWoodz:  Imo...."A new phase of stability and coexistence between the components of the Iraqi people has begun," Could this be part of the STABILITY that Dr. Shabibi was thinking of? I think maybe so. This feels deeper than just a budget agreement.  Could the REAL SHOULDER TO SHOULDER be happening? I think so.  Has the Near Proximal Future arrived?

Jerry1971:  GREAT NEWS TURNING OUT TO BE A SUPER FANTASTIC WEEK END AFTER THE BUDGET VOTE THE NEW SHINY RATE TO OPEN BOMBASTIC PROSPECTS FOR IRAQ AND ITS CITIZENS IMO

Trevor:  the budget will come out with a programe rate IMO - many will be disappointed and best to prepare for that

Deepwoodz:  Imo...I hate to say it but I agree with Trevor. Frank has stated the rate waits for nothing. On top of that, no one in parliament seems to know about a rate change but all have seen the budget and already voted on parts of it according to other articles.
Obviously they will pass the budget without disclosing the rate because the rate isn’t waiting on the budget.....it’s waiting on a date that has been selected. Does the date coincide with the passing of the budget??? Who knows but the fact they seem to be taking this big step forward after kickin it for a couple months means they are gearing up for it. Finally!!! All imo

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GodLover:  Here are my thoughts.....I have said many times, watch the budget.....more than that, the opening of the budget. Many look to the CBI, which is fine, I think likely the budget opening & a new rate posted on the CBI would be simultaneous. None the less, the rate will not be usable until the budget is opened...hence why I say watch the budget.

As far as a second budget...it may not be literal. Could be that after a rate change, in a sense it's a new budget. If the second budget is actually real, it would have to become the primary budget, eliminating the other budget. One cannot expect for them to open the budget & start allocating funds, etc...only then to open a second budget? Not imo. I would think they then would need to amend the second budget prior to even opening if they did that. So with that said....if there is an actual second budget...it would need to be exposed immediately after the current budget & before it was opened. 

Once the budget is voted on, I will not be too distraught if it has a PR. I am looking for an amendment prior to the signing into law. Once opened, that is what I will expect for the remaining of this year. With all the good articles & the hopes of the HCL, etc.....I am very hopeful we are at the end of this ride God willing. 

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DeepWoodz:  More of a question here or just a thought to ponder.....

Frank has stated that everything waits for the rate. The rate waits for nothing. 

So if the budget is passed, can one assume the rate will be exposed?

With the size of the budget being a record setter you would think, as has been stated by Petra and MM, that this budget is no good without an international rate. One that is comparable to the currency they have been using for nearly 18 years...aka the usd.

An easy transition for all to comprehend. From politicians to the poorest and most vulnerable. 

The when is all that’s left to figure isn’t it?

I heard an opinion that said not in years, not in months, not even really in weeks! That only leaves days, unless you wanna go to hours and minutes! Let’s continue to be fair and leave it at days. Lol

I can tell you one thing, I’m excited for us all. I’m excited for Eddie and look forward to hearing his update!

We finally have a break in the pattern we can all recognize! Thank God!!!

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Samson:  Al-Abadi calls for a review of the dollar’s ​​exchange rate

19th March, 2021

On Friday, the head of the victory coalition Haider al-Abadi called on the House of Representatives to reconsider the exchange rate of the dinar in order to control inflation

Al-Abadi wrote on his personal account on the "Twitter" site, saying that "the reduction in the exchange rate of the dinar has negatively affected citizens, especially those with limited income

He added, "With the significant increase in oil prices during the past month, I call on the House of Representatives to stand with the citizens and reconsider the exchange rate of the dinar in order to control inflation   LINK

DeepWoodz:  Imo... I find this very interesting because Abadi used to be prime minister so he isn’t ignorant of who controls the exchange rate.

There has been talk of him and Kadhimi forming a coalition and the politics of giving an interview is obvious. It appears he is laying the responsibility (or blame) on the current blocs in parliament, at least in the unknowing public’s eye, for the condition of the exchange rate. 

Soooooo......more positioning?    We all know that as soon as the budget is passed parliament will be dissolved and then the circus of new elections by October. Imo

Samson:  Representative economy: Oil prices in the budget do not fit reality and should be adjusted

10:51 - 19/03/2021

The Parliamentary Economic and Investment Committee stressed the need to adjust the price of a barrel of oil in the budget, pointing out that the prices set within the budget are $ 42 per barrel, not commensurate with reality after the barrel price reaches $ 70.

"The budget must include an amendment to the price of a barrel of oil, which is set at $ 42, as it must be appropriate to reality," said a member of the committee, Mithaq Al-Hamdi.

She added that "Parliament sessions will witness the demand to amend the price of a barrel of oil in the budget, in order to take advantage of the rise in global prices to bridge the budget deficit."

She indicated that "the price of a barrel of oil and its rise in the markets must be matched by a reduction in the exchange rate of the dollar against the dinar, especially since there is no need for the continuation of the specified price, with the recovery of oil prices." LINK

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Samson:  Finding millions of counterfeit Syrian pounds from the new Syrian currency

15:40 - 19/03/2021

The Syrian Ministry of Interior announced the arrest of a person promoting fake currency, most of them in the new 5,000-Syrian Pound denomination, in the second case this month.

The Ministry stated that the Criminal Security Branch in Hama received information about the presence of forged sums of money inside a house in the village of Deir Shamil, and said that it had investigated the house and arrested the accused of promoting the currency, after finding 23 counterfeit US dollar coins.

About 4 million liras (3.985 million) forged, all of them were found in the new 5 thousand liras currency. An amount of 5 million 50 thousand pounds was also found, in the two thousand pounds.

In addition to the forged sums, a forged university degree in the name of the accused was found, issued by the Lebanese American University.

And the Ministry had previously announced on the 3rd of this month the arrest of a network for promoting drugs and counterfeiting the new Syrian currency of 5000 pounds in Al-Sayeda Zeinab, in the countryside of Damascus.  LINK