KTFA Members "News and Views" Tuesday PM 3-24-2020
KTFA:
DELTA: Parliamentary Finance: The global crisis, low oil prices are temporary, and employee salaries are insured for a full year
Baghdad / Obelisk: Member of Parliamentary Finance Committee, Ahmed Al-Saffar, said on Monday, 23 March 2020, that the global crisis represented by low oil prices is temporary, confirming that the salaries of employees are insured for a full year because there is a financial surplus capable of securing them.
Al-Saffar said in a statement pursued by the "obelisk", that the global crisis represented by low oil prices is temporary and may not last more than a month or two at the most, noting that its causes are known and it is an outbreak of the Corona virus, in the world and its impact on large production plants in Japan and China. And Europe, which led to lower oil demand, and producers entering a price war and flooding the market with crude oil, which led to lower prices.
He indicated that the oil exporting countries do not bear more losses and could end the crisis during the next month or the next.
He continued that keeping oil prices at their current level will not harm Iraq, as it can pay the salaries of its employees for a whole year, from the surpluses of the 2019 budget for investments and many exchange doors in other ministries, in addition to that Iraq is a country that has a cash reserve in the central bank and may be resorted to internal reserves or External, in addition to methods related to monetary policy, open market operations, the interest rate, or the legal reserve of banks.
Al-Saffar hinted that Iraq could also resort to external borrowing in the event of an emergency and crisis after it banned it in last year's budget.
Monday Night KTFA CC with Frank26: 3-23-2020
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DELTA: Resumption of trading activity in securities in the Iraqi market for securities as of Sunday, 29 March 2020
According to the decisions of the Health Crisis Cell in Iraq
http://www.isx-iq.net/isxporta.....038;type=2
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Samson: A terrible challenge these countries will face, including Iraq
24th March, 2020
The International Monetary Fund announced today, Tuesday, that dozens of countries in the Middle East and Central Asia have contacted the fund, requesting financial support to face the impact of the Corona virus on the economy
Jihad Azour, director of the Middle East and Central Asia Department, said, "The challenge will be especially daunting for fragile and torn countries like Iraq, Sudan and Yemen
The International Monetary Fund had previously expected that the Corona "Covid-19" epidemic would have a severe impact on the global economy
The head of the International Monetary Fund's Policy and Strategic Review division, Martin Muelweisen, said last week that the main goal of governments should be to limit the spread of the virus in a manner that creates confidence that the economic shock will be temporary LINK
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Samson: The World Bank informs Iraq of its unwillingness to discuss any new loan for Baghdad with the status quo
24th March, 2020
Revealed a senior Iraqi official in Baghdad, on Tuesday, that the World Bank informed Iraq of its unwillingness to discuss any new loan to Baghdad, the current status of the country.
The official said, "The option of external borrowing, as one of the government's means to alleviate the financial crisis, is not raised due to assurances received from the World Bank that it is not ready to discuss any new loan to Baghdad in the current state of the country," noting that "recent government decisions were unsuccessful and contributed to increasing Financial deficit."
He added, "These decisions are represented in the employment packages launched by the government, and they were all courtesy motives at the expense of the actual need, and so far have reached more than a quarter of a million jobs." LINK
DELTA: GREAT POST SUPER SAMSON..........IT'S ABOUT TIME.... THANK U WORLD BANK...MUSIC TO MY EARS....BOOOOOOOOM
Samson: Legal: Parliament is able to give families an emergency grant of 250,000 dinars
18:03 - 24/03/2020
Legal expert Ali al-Tamimi confirmed, Tuesday, that the parliament has the right to vote on allocating 250,000 dinars to each family as an emergency grant in accordance with Article 59 of the Constitution.
Al-Tamimi said in a statement to "Information", that "Parliament can, under these circumstances, hold an extraordinary session to discuss the situation of workers with daily wages to take appropriate decisions regarding their wages." From the constitution. ”
He added that "that grant is distributed according to the ration card for a period of one or two months, until salvation from the Corona epidemic that has disrupted all workers," noting that "the money is allocated from the emergency budget and the initiative comes from the parliament or the President of the Republic." LINK
Suzie: Seems like a lot of dinars if there's a strong possibility they could RI/RV in the next few weeks....even at .50.... and if parliament can do this why not just RI/RV??? Begs a lot of questions, just my opinion!
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Samson: The Central Bank of Iraq announces the collection of 44 billion dinars to combat the Corona virus and thanks the Iraqi banks
24th March, 2020
The Central Bank of Iraq has announced the collection of 44 billion dinars for the purposes of bridging the shortage of artificial respirators for the purposes of measures to prevent the spread of the Corona virus, expressing its thanks to all donors
The Central Bank of Iraq said in a press statement, which was received by "Al-Iqtisad News", that "as part of efforts aimed at staving off the imminent danger that the outbreak of the Corna virus can cause to the health of citizens, the Central Bank of Iraq announces the collection of 44 billion dinars as of Tuesday, which is used for dam purposes." Shortage of ventilator, which is the cause of high death rates
He added, "The Governor of the Central Bank and its Board of Directors seize this opportunity to extend many thanks to the Iraqi banking system and all the parties that responded to the appeal and contributed by making a donation to the fund called by the Iraqi Ministry of Finance to confront the dangerous epidemic LINK
Don961: SOME PR ... IMO ... SHOWING THE CITIZENS THAT PERHAPS THESE PEOPLE RUNNING THE BANKS MAY NOT BE SO BAD AFTER ALL .. AND CAN BE TRUSTED TO HOLD SOME OF THAT HOARDED CASH IN THEIR HOMES ... IN EXCHANGE FOR NEWER , MORE SANITARY BANKNOTES ... OR EVEN ELECTRONIC CURRENCY ...
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Samson: The Ministry of Interior announces that 19,000 cars have been seized and fined since the curfew was imposed
10:50 - 24/3/2020
The Ministry of the Interior announced, on Tuesday, that it had been fined and booked 19,000 wheels throughout the country since the start of the curfew decision, noting that the imposed measures came to prevent Iraq from sliding into a catastrophe with severe consequences.
"The health authorities in Iraq imposed a curfew to prevent the country from slipping into a health catastrophe, and the consequences are severe in the event of the spread of the Corona virus in the country," said ministry spokesman Major General Khaled al-Muhanna in a statement to "Information".
Al-Muhanna added, "The security forces are serious in law enforcement, and they have arrested many citizens and imposed and seized 19,000 wheels across the country."
He continued, "Adherence to the law and not violating it at the time of the crisis indicates the size of responsibility," stressing that "in case of breaking the law, security forces will be dealt with firmly and the violator be held accountable, whatever his characteristic." LINK
Samson: The American Treasury: We suffer from a terrible shortage of cash
23rd March, 2020
US Treasury Secretary Stephen Mnuchin confirmed on Monday that Congress is close to approving the fiscal stimulus package to combat the "Corona" virus, noting that Washington will put 30-year bonds for sale.
"Democrats and Republicans are close to agreeing on a fiscal stimulus package to combat the economic damage caused by the virus," Menuchin said in an interview with CNBC.
He explained, "The US Treasury and the Federal Reserve are working to provide liquidity of four trillion dollars in the markets." LINK
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Samson: (thank you Sunkissed for this article headsup)
Expect a coronavirus stimulus agreement in Senate, Schumer says
24th March, 2020 (thank you Sunkissed for this article headsup)
Sen. Chuck Schumer, D-N.Y., told reporters early Tuesday that he expects Republicans and Democrats in the Senate to come together and reach an agreement on the $2 trillion coronavirus stimulus package that set off a fierce debate on the Senate floor and allegations from both sides that the other was politicizing the emergency.
Despite the logjam, Schumer, the Senate minority leader, and Treasury Secretary Steven Mnuchin told reporters that there was progress made in late-night negotiations. Schumer said he expects a vote sometime on Tuesday.
One of the key issues in the package is the $500 billion "Exchange Stabilization Fund." Democrats call it a "slush fund," and claim Mnuchin would have far too much influence over which industries would have access to the fund.
Mnuchin denied the claim on Fox Business, saying, "It's not a slush fund; it's a mechanism that we can use working with the Federal Reserve that will provide another $4 trillion of potential liquidity into the market. That’s on top of the Fed’s balance sheet."
A Politico reporter, citing three sources, tweeted that Mnuchin agreed to "significant oversight" for the fund in part of the negotiations.
President Trump claimed Monday that the Senate Democrats were “playing partisan politics” and should make the deal. “I think we've made a lot of progress," Mnuchin told reporters. "Both sides have been working around the clock." He said there are a few documents that need to be reviewed and turned around, but he is hopeful they will be resolved Tuesday.
Schumer also struck an optimistic tone. “We expect to have an agreement tomorrow morning. There’s still a few little differences. Neither of us think they’re in any way going to get in the way of a final agreement,” he said.
At around the time Schumer and Mnuchin were leaving the Capitol, Trump re-tweeted a National Review article about last-minute "ideological demands" from Democrats that were added to the relief package. The report said these demands included the expansion of wind and solar tax credits and increased fuel emissions standards for airlines. Trump tweeted, “This will never be approved by me or any other Republican!”
** There are two videos on this link LINK
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Don961: Trump ignores warnings: We will not leave the US economy with "doctors"!
13:19 Tuesday, March 24, 2020
Baghdad - people
US President Donald Trump said on Tuesday that he is studying how to reopen the US economy after a 15-day closure period ends next week, even if the Corona virus spreads.
"America will open again and quickly to commercial activity ... We will not allow that to turn into a long-term financial problem," Trump said at a White House press conference, which was followed by "People" today (March 24, 2020).
Trump added that economic activity could resume in states, which have what he described as relatively slow rates of coronavirus infection, citing Nebraska and Idaho as examples, while work continues on hotspots in other states such as New York.
He continued, "If it is left to the doctors, they will say let us close the whole world."
A week ago, Trump issued instructions that he said were aimed at slowing the spread of the disease within 15 days, including limiting unnecessary travel and stopping economic activity in some states.