KTFA Members "News and Views" Saturday PM 6-13-2020

KTFA:

Samson:  End of 2020 ... Baghdad and Washington sign a strategic treaty

13th June, 2020
A security and strategic expert, Hisham Al Hashemi, expected on Saturday that Baghdad and Washington will sign a strategic treaty at the end of this year.

Al-Hashemi said: "We expect to sign an Iraqi-American strategic treaty paper, according to the dialogue that will take place in July based on the terms of the agreement concluded in 2008."

Hashemi added, "The Iraqi negotiator was able to extract from the Americans the approval of the parliamentary decision that was issued in January this year regarding the withdrawal of foreign forces from Iraq."

He stressed, "Iraq in its previous dialogues could not impose a specialized sentence and delete another except in the 2020 dialogue."   LINK

Samson:  America is looking to move the relationship with Iraq to a new stage and level that is not related to the number of troops

13th June, 2020

US State Department spokeswoman Morgan Ortigas confirmed that the strategic dialogue between the United States and Iraq is the first step towards the United States continuing to seek stability in Iraq.

She explained, according to "Sky News Arabia" that "the United States pledges to achieve a sustainable defeat for ISIS, but is looking to move the relationship to a new stage and level that is not only related to the number of forces."

Ortigas stated that "ISIS is not the only challenge in Iraq, but also Iran's evil activities." She stressed that "Washington's maximum pressure campaign against Iran is not only for nuclear weapons but for its behavior in the region." And she demanded, "We want the neighbors of Iraq and all the governments in the region to deal with Iraq as a responsible neighbor without interfering in its affairs and supporting the new prime minister and his team."

On Thursday, the US and Iraqi governments announced in a joint statement after the launch of their "strategic dialogue" that the United States "will continue to reduce" its military presence in Iraq "in the coming months."   LINK

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Samson:  Hours after the end of the "negotiations" .. America talks about an "open stay" in Iraq

10:20 - 13/06/2020

On Saturday, the US State Department praised the strategic dialogue between Baghdad and Washington, stressing its survival at the military, security, political, and commercial levels in Iraq and the start of expanding relations.

The ministry's spokesperson, Morgan Ortagius, said in an interview followed by "The Information", that her country "wants all parties and components to have representatives in the Iraqi government, adding that the United States will remain as the largest humanitarian aid provider to Iraq."

She added, “The strategic dialogue between America and Iraq was positive, and we will remain in Iraq until the elimination of ISIS ," without specifying a period for withdrawal.

"We are satisfied, and there is no doubt that the strategic dialogue between the United States of America and Iraq is just a first step, and this step is very positive, and we see it as a way to deepen bilateral relations with Iraq."    LINK

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Pattycakes77:  Iraq is playing games at this point. They need to bring Vietnam to the front line  

Bambi:  I believe our Appointed President Donald Trump is rolling out this MR in Iraq just as planned. NO GAMES! The timing is part of the Plan. The confusion is part of the Plan in this end game we are watching unfold right before our eyes.

GodLover:  The ISX has yet to update another closure per their site imo. I am really hoping I will be wrong on them resuming trading next week at the pr imo. I would be really encouraged if they are closed for another week or two, since I am convinced other things need accomplished prior to a rate change imo. 

As I had stated previous....the Kurds are still an issue. They are to meet next week (per articles) & can hopefully finally get things officially resolved for good imo. I also believe the 2020 budget cannot be sent without this being resolved imo.

Also the mentioned "reform papers" per articles that are required to accompany the 2020 budget, I find that very interesting imo. We also know that they are "planning" on sending the 2020 budget by the end of this month per articles imo.

Samson:  Parliament sets internal borrowing at 40 trillion dinars, and external at 5 billion

13th June, 2020
The House of Representatives intends to vote on a resolution setting internal borrowing at 40 trillion dinars and externa at 5 billion dollars.

Committee member Ahmed Al-Saffar said, "Any deductions from the employees' salaries must be by law that is voted upon in the parliament." He added that "the financial committee met with the ministers of finance and planning, the governor of the central bank, the undersecretaries of the two ministries and advisors in order to find solutions to the financial crisis and to discuss the internal and external borrowing law of the government."

He revealed, "The close to voting on a draft resolution within the House of Representatives that includes limiting external borrowing to (5 billion dollars) and internal (40 trillion dinars) from local banks and the central bank."

He pointed out that "there is a condition that obliges the government, after voting on the draft resolution in the House of Representatives, which is to submit after 60 days a reform paper that works towards a fundamental change in the budget items and non-oil revenues."   LINK

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Samson:  World Bank's Neman: 'Critical Time' as Iraq

13th June, 2020

After months of anti-government protests and political uncertainty, Iraq is now grappling with its worst fiscal crisis in decades.

The country's economy and state budget are heavily reliant on oil income, and have been hit hard by the sharp decline in global oil prices.

The World Bank has projected Iraq's GDP to contract by 9.7 percent, with the fiscal deficit expected to reach almost 30 percent of GDP.  Iraq's newly appointed government, led by Mustafa al-Kadhimi, is now faced with a challenging task of implementing long-overdue structural reforms, such as reducing public sector employment while also keeping popular unrest at bay.

But what are the root causes of the current economic crisis and what needs to be done to tackle it? And how can the new government overcome entrenched political interests that oppose reform while also winning over a public that has lost all trust in the political establishment?

Ramzi Neman, the World Bank's special representative to Iraq, talks to Al Jazeera : 

25 MIN LONG VIDEO IN ENGLISH   LINK

HoosierGirl:  Well well well, as he states (about the 19 min mark) The Kuwait Conference (the one that was such a big deal and resulted in 30 billion in potential contracts) "what happened after that unfortunately was not followed up properly".  In other words - Iraq didn't follow thru on their MONETARY REFORM - REINSTATEMENT!!!  I haven't listened to it all word for word, but skimmed thru it and this did catch my attention! 

MilitiaMan:  Well as we can see that this is about concerns, but, keep in mind they are being met, imo.. They have been working on alternatives and now is the time to implement those that will support the country into a new market economy. An all new Iraq from the foundation up.. imo ~ MM

MilitiaMan:  I watched it and we are seeing his view unfold in respect to going to a market economy.. The money may vry well be still available. A bit vague yet was promising. Good video. Those that have had a rough go of the study may find peace in knowing that the WB was aware of the ebb and flow for varying reasons to as why reforms were not fully finished, yet. ! They driver of the bus has his foot on the accelerator!!! Just look what the PM has said!! ~ MM

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Samson:  The central bank will pump 30 million dollars into the market, enough for a week in Lebanon

13th June, 2020

The Syndicate of Money Changers in Lebanon announced that the central bank will pump 30 million dollars into the market, which could be enough for a week, in implementation of the agreement reached with the government to curb the high price of the dollar.

The Syndicate of Money Changers, according to what our correspondent in Beirut reported, that the cashiers will sell the dollars that the Central Bank provides to importers, provided that the presentation of official papers is shown, noting that the $ 30 million is sufficient for one week. The union announced in a statement today, the price of the US dollar exchange rate against the Lebanese pound for Saturday and Sunday, buying at a price of 3890 a minimum, and selling at a price of 3940 a maximum.

The protests erupted yesterday, for the second day in a row, in several Lebanese cities after the collapse of the lira, which lost about 70% of its value since last October, when Lebanon sank into a financial crisis that exacerbated the living conditions. The lira appeared to hold on Friday after the government announced that the central bank would pump dollars into the market.

However, as the night fell, the demonstrators threw fireworks and stones at the security forces in central Beirut and the city of Tripoli in the north, and the police responded by firing tear gas and rubber bullets to repel them, in the second night of unrest. 

The unrest comes as Beirut talks with the International Monetary Fund about a reform program in which it hopes to get billions of dollars in funding from the fund to get its economy back on track.

The financial crisis in Lebanon, which was aggravated by decades of corruption and waste, caused food prices and unemployment to rise, and imposed capital restrictions that prevented the Lebanese from obtaining their savings in foreign currencies.   LINK

Samson:  The lira is setting fire to the Lebanese street ... The disastrous economic conditions are causing anger

14th June, 2020

The situation in Lebanon has increased in complexity day after day, and the economic and financial crisis has gone from bad to worse, with the exchange rate of the dollar against the Lebanese pound crossing the threshold of 6,500 in the black market during the past two days, with a decrease in the purchasing value of the Lebanese due to the crazy rise in consumer prices, which led to a tumultuous night witnessed The country was marked by clashes and riots between demonstrators, riot police and the Lebanese army as part of ongoing protests to condemn the collapse of the lira and the deterioration of the living situation in the country despite the decision of the Hassan Diab government to pump the dollar to curb the decline in the local currency exchange rate and stop the economic collapse.

The collapse of the lira

After the lira collapsed and lost about 70% of its value since last October, when the country plunged into a financial crisis that exacerbated the living conditions, citizens were forced to demonstrate and protest in protest at the conditions the country is going through after the collapse of the lira, the protest and the protest that amounted to cutting off the roads that the army opened to open it Which led to clashes between the two parties in front of the headquarters of the Central Bank in the capital, Beirut.

Although the lira held on Friday after the government announced that the central bank would pump the dollar into the market on Monday, but the demonstrators returned at nightfall, and they threw security forces with fireworks and stones in central Beirut and the city of Tripoli in the north, and the police responded by firing tear gas and rubber bullets to repel them. .

IMF talks

Beirut is in talks with the International Monetary Fund on a reform program in which it hopes to obtain billions of dollars in financing and return its economy to the right path, after the crisis caused food prices and unemployment to rise and impose capital restrictions that prevented the Lebanese from obtaining their savings in foreign currencies.

And the exchange rate touched the threshold of five thousand pounds against the dollar, while local media reported at night that the price exceeded six thousand, despite the exchange union setting the daily exchange rate by about four thousand, while the official price remains fixed at 1507 pounds.

The Cabinet asked the security services to "strictly crack down on all violations and refer them immediately to the appropriate judicial references", coinciding with the announcement by the General Security of the arrest of five people who carry out money exchange operations on the black market.

Huge losses

Economic sources reported that several companies and institutions stopped delivering goods for fear of the Lebanese pound recording additional collapse, which reflects a loss in the companies ’capital, and international reports and research had estimated that about a million Lebanese would be without jobs and salaries in the second half of this year.  LINK