KTFA Members "News and Views" Monday PM 8-23-2021
KTFA:
Samson: The largest distribution in history.. Countries start receiving billions of dollars from the International Monetary Fund
23rd August, 2021
Today, Monday, the largest general distribution in the history of the International Monetary Fund, amounting to 650 billion dollars, which was approved earlier this month, became effective.
On August 2, the IMF’s Board of Governors approved a general distribution of the equivalent of $650 billion in Special Drawing Rights units (456 billion units) to its members, to support global liquidity.
Of the allocated funds, $275 billion went to developing countries, of which $25 billion went to members of the CIS (member states of the former Soviet Union) and Georgia, from which Russia received $17.5 billion.
According to a report published by "Reuters" agency yesterday, Yemen will get about $665 million from the fund's reserves. "Tomorrow all IMF member countries will receive their new allocations of Special Drawing Rights (SDRs). Countries must use these allocations responsibly and wisely for the benefit of all citizens," the fund said in a tweet yesterday on the eve of the distribution.
The distribution aims to address the world's long-term need for reserves, and help countries weather the impact of the COVID-19 pandemic.
Regarding the advantages of distribution, the Fund explained in a group of tweets that distribution allows for financing expenditures that help people to overcome the crisis, and it also enhances the reserves of member countries in the Fund, as well as supports the reforms of member countries.
The Special Drawing Rights (SDR) is an international interest-bearing reserve asset created by the Fund in 1969, as a complement to other reserve assets of member countries. The value of the Special Drawing Right (SDR) is determined according to a basket of five currencies (the US dollar, the euro, the Chinese yuan, the Japanese yen and the British pound). LINK
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Samson: The largest allocation of @IMFNews Special Drawing Rights (SDRs) in history—equivalent to US$650 billion—comes into effect today. It will create more room in member country budgets, helping step up their fight against the virus and support the recovery. It should be used wisely. https://t.co/AmA64SBWwH
— Gita Gopinath (@GitaGopinath) August 23, 2021
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Samson: Iraq raises its holdings of US bonds to 21.2 billion dollars
23rd August, 2021
The US Treasury Department announced that Iraq raised its holdings of US bonds to $21.2 billion during the month of June
The Treasury said in its table that "Iraq raised its balance of purchasing US Treasury bonds by 23.98% to reach $21.187 billion, after it was $17.1 billion in December 2020:", indicating that "the bonds include long-term guarantees of $9.217 billion and short guarantees." term of $11.970 billion
And she added, "Iraq's stock of bonds decreased during the past year, after it was 31.9 billion dollars in January 2020, to decrease to 30.9 billion dollars in February of the same year, to decrease to 30.7 in March and to rise again in the month of April to 32.5, and in May it reached 32.6 billion dollars." To decrease again in June to $31.6 billion, then to $29 billion in July, and then decrease again in August to $27.1 billion, and drop in September to $24.4 billion, then to $21.6 billion in October and reach 19.8 billion in November. And to conclude the year with a decrease of 17.1 billion dollars
She pointed out that "the largest holder of US bonds is Japan, with a value of 1.277 billion dollars, followed by China, with a rate of 1.062 billion dollars, followed by Britain, with a value of 453 billion dollars
In the Arab world, Saudi Arabia comes at the forefront of the most possessing countries, with a value of 127.8 billion dollars, followed by the UAE with 60.8 billion dollars, Kuwait third with 47.3 billion dollars, then Iraq with 21.2 billion dollars, and Qatar fifth with 8.5 billion dollars LINK
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Samson: Al-Kazemi: We will present a reform document in Iraq soon, and the elections cannot be postponed
08/22/2021 20:13:30
Prime Minister Mustafa Al-Kazemi announced today, Sunday, that a general (reform) document will be presented, the provisions of which will be adopted as basic constants for Iraq.
He said Kazemi in a meeting with newspaper editors on the sidelines of his visit to Kuwait, that the legislative elections in Iraq will be held on time by the tenth of October next , and it can not be postponed. " He added that" what is important is to cross the country to safety and recover we are in The urgent need is for a healthy Iraq that does not dispense with its Arab and Islamic surroundings.
Al-Kazemi called on Kuwaiti businessmen to seize investment opportunities in Iraq as a "fertile environment", adding that "it is unacceptable that the trade exchange between the two countries is at this timid level." He believed that enacting legislation that attracts investment and overcoming difficulties for the investor does not affect the sovereignty of Iraq, but rather benefits its economy and the well-being of its citizens.
However, he added that investments were made to develop Iraq and build its future, especially that "the state alone cannot do everything." Al-Kazemi pledged to address all obstacles facing the foreign investor and provide him with assurances. LINK
ATPInfinity: "it is unacceptable that the trade exchange between the two countries is at this timid level."
We will present a reform document in Iraq..soon
ACCORDING TO MM..SOON has arrived!
https://cbi.iq/static/uploads/up/file-162607942971064.pdf
This report is going to open some eyes around the world be sure. The cat is out of the bag. imo A few random key points.. ~ ::
- The addition of the Iraqi dinar currency in a (Buna) platform for Arab payment~
-- Linking the Iraqi Stock Exchange with (RTGS) systems...............................ETC. THIS CHANGES EVERYTHING!!!!!!
Samson: Kuwaiti parliament requires Iraq's support in exchange for money stolen by Saddam's regime
22nd August, 2021
Kuwaiti MP, Mubarak Al-Hajraf, demanded, on Sunday, not to provide any support or investment to Iraq unless the Kuwaiti funds seized by the former regime when the invasion of Kuwait are returned
Kuwaiti newspaper Al-Rai quoted Al-Hajraf as saying, "Oh, the (Kuwaiti) Prime Minister, while you are crying over the economic deficit, demanded that the Iraqi prime minister return the Kuwaiti money wasted in Iraq from social insurance investments and private companies
And the Iraqi Prime Minister, Mustafa Al-Kazemi, arrived, Sunday, to the State of Kuwait, at the head of a high-ranking government delegation, to discuss many economic, political, energy and investment files
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Samson: Foreign Relations talks about the preparations for the Baghdad Summit: It will strengthen Iraq's position in the region and the world
23rd August, 2021
The Parliamentary Foreign Relations Committee revealed, on Monday, August 23, 2021, the government's latest preparations for a conference of Iraq's neighbors and other Arab and foreign countries, at the end of this month.
Committee member Furat Al-Tamimi said, in an interview with the media, which was followed by "The Obelisk" that most of the invitations reached the leaders of the countries that will participate in the conference, and that the Ministry of Foreign Affairs and the Office of the Prime Minister are in constant contact with the security ministries, other ministries and the parties concerned with receiving the leaders and preparing the venue for the summit, as the Preparations are going as planned, adding that the success of the summit depends on the level of representation that the participating countries will contribute to the conference.
Al-Tamimi added that this conference and previous conferences contributed to strengthening Iraq's position in the region and the countries of the world, stressing that Iraq is an important country for many countries of the world due to its strategic location in the Middle East, which represents a meeting point for the conflicting countries in the region.
Iraq is preparing to host the first conference of regional neighbors at the end of August, with the aim of discussing the political and security challenges facing the countries of the region.
This conference will be the first of its kind at this level after the Arab Summit hosted by Iraq in 2012 and the tripartite summit between Iraq, Egypt and Jordan hosted by Iraq at the end of last June, which was called the New Orient Summit, a term that Al-Kazemi gave. LINK