KTFA:

Clare: DON'T WALK BY POST #27!    RIGHT FROM ALAQ!!! WOW!   imo

#27:  Central: Commitment to strict currency financing instructions will significantly reduce the exchange rate

6/10/2023  Baghdad

Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, while noting that adherence to foreign currency financing packages will contribute to a significant decrease in the dollar exchange rate in the coming days.

Al-Alaq said, in an interview with the official news agency, that "packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform," noting that "the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment and study." ".

Al-Alaq added, "These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated the fluctuations in exchange rates, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per dollar." ".

He stressed, "There is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days."

Regarding plans to raise financial reserves and gold in the central bank, Al-Alaq said, "The two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as external transfers." ", stressing that "under normal circumstances, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."

He continued, "With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million."

 Regarding the housing loan initiative, Al-Alaq stated that “housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated the continuation of financing applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars.  LINK

DallasDude:  The word "Significant " Got my attention..we will see how it plays out, hope their definition of the word is parallel to ours..and hopefully it's not the 1300 rate they are proud to introduce in this 3 year budget.. imo

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ButchB:  The more I read the more I realize how intricate this process of the RI is

With the information coming out, and the plays that are being made, you’d have to be blind and deaf. Not to realize the R I  is here.

I remember all the times I thought this has to be it but now I sit and reflect how ignorant I have been in thinking that the RI/RV could have possibly taken place before this weekend

With all of the things that they have accomplished in this past week, alone, supersedes everything that they have accomplished for the past 20 years think about that a minute ONE WEEKS TIME HAS ACCOMPLISHED MORE THAN THE PAST 20 YEARS!

this is in my opinion, of course and I feel that everyone in this family would benefit from reading the entire article that is presented to you and don’t just read the headlines
For it is the details that it is driving this RI in my opinion

So if you are having any doubts about us coming to the end of this road, maybe you should look in the rearview mirror and see how things used to be and compare them to how they are now so again, I would reiterate ,IMO , THEY HAVE ACCOMPLISHED MORE IN THE PAST WEEK THAN THEY HAVE IN THE PAST 20 YEARS!

Clare:  After a dispute for two days, the House of Representatives votes on the Kurdistan oil revenue clause in the budget

6/10/2023

The House of Representatives voted, on Saturday, on Article 14 of the draft budget law.

And the media department of the House of Representatives stated in a statement, which Mawazine News received a copy of, that "the House of Representatives voted on Article 14 related to oil revenues in the Kurdistan region and its audit by the Federal Audit Bureau."

The House of Representatives has witnessed disagreements since yesterday, due to disagreements over the article.   LINK

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Clare:  The Finance Committee announces the resolution of the dispute over Article 14 of the budget

6/10/2023

A member of the Finance Committee, Mueen Al-Kazemi, announced today, Saturday, the resolution of the dispute over Article 14 of the Federal General Budget Law.

 Al-Kazemi told Al-Sumaria News, "There are serious dialogues that took place between the coordination framework and the Kurdistan Democratic Party, which resulted in reaching an important formula agreed upon between the two sides on Article 14, and with that everything ends."

He pointed out that "the meetings are continuing and there is an understanding that occurred within the framework with the Democrat regarding Article 14, especially with regard to forming a committee to resolve the differences between the center and the region."

Al-Kazemi stressed that "the budget materials will be passed gradually."

During the past two days, the House of Representatives voted on Articles (1, 2, 3, 5, 6, 7, 8, 9, 10, 11, 12, 13, 18, 19, 20, 21, 23 and 24), in order to vote. On Articles 14, 15, 16 and 17, with the deletion of Articles 4 and 22 of the draft budget law.

It is hoped that the House of Representatives will hold, today, Saturday, a session to complete the vote on the budget articles.    LINK