KTFA Members "News and Views" Thursday PM 7-9-2020

KTFA:

Samson:  Other: The corruption of previous governments is greater than the capacity of parliamentary integrity

8th July, 2020

The MP, Jawad Hamdan Al-Saadi, held all the previous governments responsible for corruption and waste of public money.

Al-Saadi said in a televised interview: The volume of corruption files is greater than the capacity of the Parliamentary Integrity Committee, and all previous governments are responsible for corruption and waste of public money.   LINK

Samson:  Parliamentary Finance: The government is unable to pass the 2020 budget

19:24 - 08/07/2020

On Wednesday, the Parliamentary Finance Committee confirmed the government's inability to pass the 2020 budget with a deficit of more than 30%, contrary to the Financial Management Law.

A member of the Finance Committee, Ahmed Hama, said to the "information" that "the Financial Management Law stipulates that the general budget should not be passed with a deficit of more than 30%."

He added that "the price of a barrel of oil in its best case can not be calculated more than 33 dollars per barrel," noting that "according to the aforementioned price, the deficit will be more than 60 trillion dinars, which is contrary to the law of financial management."

The other thing that faces the government’s inability to determine the price of a barrel of oil for the 2020 budget is the fluctuation of oil prices and its instability.”   LINK

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Samson:  Deputy: Al-Kazemi's government has not resolved any crisis yet

13:20 - 09/07/2020
A member of the Moussawi Victory Council confirmed, Thursday, that the government of Prime Minister Mustafa Al-Kazemi has not resolved any crisis yet.

Moussawi said in a statement to "Information", that "when the government of Adel Abdul Mahdi was sacked with all its ministers, optimism was that a government would open its doors to demonstrators and simple people to respond to their legitimate demands, but unfortunately it remained closed and had not resolved any crisis so far" and added, "Thousands of wages and contracts in the Ministry of Electricity without salaries for 4 months confirmed that the current economic situation is worse than before and the doors of the ministries are still closed to the owners of legitimate rights.

Moussawi pointed out that "the current situation requires urgent measures to address the accumulation of crises, especially the economic one, and give a fingerprint of hope to the simple and the poor." Iraq is suffering from successive crises, especially economic and financial that it has overshadowed very wide segments with delayed payment of salaries.   LINK

Popeye7:  IMO, the outcry of the current situation within Iraq from an economic standpoint needs to be addressed in the immediate future for the sake of this countries people first, and foremost... As well as the continued credibility of PM Kazemi's governance... We all know what that will entail to truly get the ball rolling in the right direction... The increase in value of Iraq's currency is the catalyst...

Don961:  A Kurdish deputy reveals the fact that Baghdad refused to receive the Kurdistan delegation and the reason for his late visit

Policy 7/20/2020 12:35 644 Editor: am    Baghdad today - Baghdad

On Wednesday (08 July 2020), the deputy of the Patriotic Union of Kurdistan, Hassan Ali, denied that the federal government refused to receive the Kurdish delegation, while explaining the delay in the delegation's visit to the capital, Baghdad.

Alli said in an interview with (Baghdad today), "The delay of the Kurdish delegation's visit to the capital Baghdad to complete the negotiations is for the sake of the full discussion before the visit, so that the results will be fruitful and not normal meetings."

He added, "The Kurdish delegation will visit Baghdad next week, and it is awaiting the easing of the conditions that Baghdad requested from the region with regard to oil delivery, and revenues of 50% of the border outlets."

He pointed out, "There is hope regarding negotiations between the territorial and federal governments, after entering international mediation, that a comprehensive agreement will be reached between the two parties."

The local media had reported that the federal government had refused to visit the delegation of the Kurdistan Regional Government, especially after the region rejected the recent conditions imposed by Baghdad.   LINK  

MilitiaMan:  I can just imagine the room they are in and how many international entities are working to help the mediation process through to the finish. We all know this is about money and salaries, however, it is even more than that. It is about the 2019 FMLA too..imo The trigger for money / foreign currency reserves to get a leg up. Just as we can recall that there is such things as the FIMA, the CML, TALF, etc..Those facilities are in place to move money. When there is an RI, you can bet your bottom Dinar that there is going to be some serious money movement and not just in Iraq. When they say international mediation and it is to facilitate a comprehensive agreement, it is exactly that!! COMPREHENSIVE>>>. oh ya.. imo ~ MM lol

MilitiaMan:  Look at what the IMF is saying too. It is all about the money and in a very big way.. imo!! Lol WOW ~ MM

Samson:  The IMF calls for global financial reform after the Corona crisis

19:31 - 08/07/2020

The International Monetary Fund said that it is concerned about the high levels of debt in emerging and developed economies alike, because of the spending directed to revitalize the economy in light of the Corona virus crisis.

Mitsuhiro Furusawa, deputy director of the International Monetary Fund, said he would urge countries to initiate financial reform once the pandemic is over.

Furusawa said that for the first time ever, global public debt is expected to exceed the combined gross domestic product level after measures taken by governments in the face of the health crisis.

The Deputy Director of the International Monetary Fund told an online seminar organized by the Japanese Economy Center at the Columbia Business School as soon as the economy returned to its path, that "a medium to long-term financial framework must be put in place to manage public financial conditions on the basis of it."

He stressed that "this will be one of the highest priorities within our recommendations."  LINK

Blinkster:  Amen MM...and with all that in articles and your commentary....dare I say that controversial acronym...  GCR?  There has to be a global-enacted reset/adjustment/etc IMO....and that would go, again IMO, with the level playing field POTUS has demanded regarding world currencies.  This is just beautiful.  "The IMF calls for Global Financial Reform after coronavirus" ...let's get those dominoes in order right quick!  Yeah, baybeee!

MilitiaMan:  Your not kidding .... controversial... Ya think? lol Lets see what they do. I have a strong feeling we can read the tea leaves very well, as they are talking very loud... HIGHEST PRIORITIES!!!!!! lol yep imo HUGE!!!!! ~ MM

Don961:  Parliament Finance: A Consolidated Reform Paper to Promote the National Economy

Thursday 09 July 2020 Baghdad / Farah Al-Khaffaf

 Nothing is louder than the sound of reforms these days after the government headed by Prime Minister Mustafa Al-Kazemi announced a map of reforms under the name of the White Paper.

This paper, which will be organized by the law of economic and financial reform, has won popular and parliamentary praises, pending their completion and submission to start implementing them on the ground.

Bilateral meetings

With the start of preparing them, the Parliamentary Finance Committee revealed directions for holding meetings with the responsible executive bodies to ripen visions and ideas between the two authorities to come out with a unified paper that contributes to the advancement of the national economy.

In this regard, the committee’s rapporteur, Dr. Ahmed Al-Saffar, said in a special statement to “Al-Sabah”: “The solution lies in comprehensive restructuring and reform that includes all sources of oil and non-oil revenues, i.e. maximizing revenue on the one hand, and on the other hand, following up on public expenditures that do not achieve justice "In the distribution, it must be restructured."

Prime Minister Mustafa Al-Kazemi announced that his government prepared a white paper for the expected reforms that includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

Uniform paper

Al-Saffar added, "The House of Representatives gave the government a period of 60 days to present a comprehensive reform paper for revenues and expenditures in Iraq," noting that "the Finance Committee made several proposals in another paper, and we look forward to organizing meetings through a closed television circle with the government to discuss the two papers, and come up with solutions to restore Structuring and reforming the economic and financial system in Iraq within a unified paper.

Maximizing imports

The Parliamentary Committee had revealed a plan to maximize financial imports and activate the economic sector.

Member of the Committee, MP Hussein Al-Oqabi said: “The House of Representatives gave the government 60 days to present an integrated plan to tackle the economic issue. ».

Al-Aqabi added that «the strategic plan should focus on measures to enhance non-oil revenues and reduce the rate of dependence on oil revenues according to steady steps until we reach a normal rate similar to the countries of the region, which depend on oil revenues by 50% or less and have 50% of revenue other than Oil », indicating that« this plan must be defined by time ceilings, and be multi-domains, not only tax and other areas, but other economic areas ».

He explained in a statement to "conscious" that "the state spends approximately 10 to 15 percent of its revenues on the gas and oil derivatives sectors, as well as in the sectors of trade and agriculture", calling for "the provision of security and the authority of the state and the law to provide the appropriate environment to attract foreign investment in these sectors" , According to a time limit within a general and expanded map.

Finance Committee meeting

Meanwhile, member of the Parliamentary Finance Committee MP Majida Al-Tamimi announced her committee’s intention to discuss six axes, the most prominent of which is the amendment of the retirement law and the dues of holders of higher degrees.

In a statement, Al-Tamimi said that she «submitted a request to the Finance Committee to discuss six important axes, which have a direct impact on the lives of citizens to take decisive action on them». She added, “The six axes include, first: the second amendment to the Unified Retirement Law No. 9 of 2014 and the detailed report that I submitted, second: the dues of free lecturers, third: the dues of holders of higher degrees, fourth: the salaries of those transferred to other ministries, and fifth: the appointment of the first students Sixth: Adding other axes by the members of the Finance Committee.

Al-Tamimi indicated that «a proposal to amend the retirement law has been submitted to the Presidency of the House of Representatives and transferred to the Finance Committee during last June», stressing «the importance of continuing the work of parliamentary committees and the adoption of technology to continue to hold regular sessions and meetings to develop solutions to the problems suffered by citizens, especially Related to their livelihoods. ”

Al-Tamimi stressed «the necessity of spending financial dues in its timing and taking into account the difficult conditions that he is Citizen going through  ».    LINK