KTFA Members "News and Views" Thursday Afternoon 2-18-2021
KTFA:
DeepWoodz: Imo...We all know the rate change is coming. We have all been reading the articles, although I’m skimming them less and less, and we’ve all settled our minds on the budget.
I suggest that we focus on all the other things going on because we are looking through a stained glass. We have biased opinions that are only concerned with the rate.
No one can answer this, what are they waiting on? What step is left?
Frank, Walkingstick, and teams have helped us understand the things that have taken place but cannot tell the future. Nor will they even try for good reason, only God knows the future.
Of course the budget is an indicator of things to come, speculation about our speculative investment.
There is a timetable that has been put in place but timetables are created with goals in mind. It’s not just some random times they draw out of a hat.
So what else is going on? Are their laws being passed, are they getting ready for the elections, isn’t parliament going to be dissolved shortly after the budget is done? How does this all fit together because it surely does, and we are another day closer.
The Snod: Peep’s, I really don’t think we are in any kind of trouble. These other countries and powerful entities don’t keep coming into Iraq for the night life or the beaches. If it’s dragging it’s likely from the pulling in of the 000’s, waiting for oil to hit $60 (it has), and bringing Iran closer to the table (happening) and the opening of some arteries in and out of Iraq. $ gotta flow!!! Perhaps more (probably not much more if any). The time to be concerned would be if they continue to be more secure THEN everyone gets disinterested. That isn’t happening right now! So far; so good, yet I get the frustration. It is tantalizingly close right now, so a little angst is going to be natural.
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Samson: To settle the budget, Saleh seeks to count an expanded meeting that includes the three presidencies
18th February, 2021
Today, Thursday, an informed source revealed that the President of the Republic, Barham Salih, is making efforts to hold an expanded meeting to resolve the budget file.
The source said to Alsumaria News, that Saleh "intensifies his contacts in order to hold an expanded meeting that includes the three presidencies and leaders of political blocs to resolve the budget file in a way that guarantees the rights of everyone away from marginalization."
"So that voting on the budget is satisfactory to all provinces," he added. LINK
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Samson: Advisor to Al-Kazemi: The Ministry of Finance will make a change to the 2021 budget
18th February, 2021
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed, on Thursday, February 18, 2021, that the Ministry of Finance will make changes to the General Budget Law for 2021.
"The Ministry of Finance will make the required adjustments and it is responsible for preparing the budget under the Financial Management Law before submitting the amendments to the Cabinet for approval and submitting it to the House of Representatives," Saleh told Al-Obelah. He added that "Iraq received strong support in the face of its double economic crisis (health and financial) from the Financial Alliance Group following the success of Iraqi diplomacy in continuing its dialogues with international institutions."
He pointed out, "the formation of the Supreme Committee for Reform as (the central executive force) to manage economic reform and rehabilitation of the national economy with a unified vision and road milestones that seek its goals and according to the principles of the White Paper itself."
He explained that "the white paper came from the beginning as central principles of reform, and its application must bring about a change in the paths of the national economy and transform it from (recurrent economic crises and recession economy) to (a stable and sustainable development economy).
And he indicated that "the international financial and economic community itself has begun to look at issues of promoting productive and investment activity and stabilizing sustainable development goals that deserve support from its multilateral institutions such as the World Bank and others and many United Nations development agencies."
He pointed out that "the establishment of a central national reference and implementation of economic reform will inevitably allow a positive deal with the international community in the attribution of development, economic progress and stability in Iraq. LINK
Samson: Oil could reach $ 100
18th February, 2021
Two of the largest banks on Wall Street in the United States expected a rise in oil prices during the coming period, according to the American "Financial Times" newspaper.
The source stated that both "JP Morgan Chase" and "Goldman Sachs" expect oil prices to rise significantly when the Corona epidemic recedes. He explained that the most optimistic expectations indicate a return of international crude oil prices to $ 100 a barrel, a level that has not been reached since 2014.
The expected rise is based on the belief that the fiscal stimulus will boost consumption, along with the beginning of a return to normal life.
This would change the conditions in the oil sector, which recorded record losses last year due to the repercussions of the Corona virus. "We can see oil cross $ 100 a barrel, or even more," Christian Malek, head of oil and gas at JP Morgan, said in a conference call last week.
For his part, Geoffrey Curry, a veteran analyst at Goldman Sachs, said he believes oil is trading in the $ 80 range or higher this year. He continued, "The launch of financial incentives targeting the middle and lower classes will boost consumption of basic commodities ... This category does not drive electric cars, they drive regular cars."
Since the end of October, Brent crude, the international benchmark, has risen by more than two-thirds to $ 63 a barrel, driven by optimism left by the global vaccination campaign and production cuts. LINK