KTFA:

Samson:  A deputy refers to a strategic project and confirms: Iraq will have huge sums of money

17th March, 2021

Today, Wednesday, the representative of the Iraqi coalition, Jasim Al-Bakhati, referred to a strategic project that, if implemented, would draw huge sums of money to Iraq, explaining that the rail link with neighboring countries would kill the large port of Faw.

Al-Bakhati said in a statement to "Tigris", that "the rail link with neighboring countries will lead to the death of the large Faw port project, on which the state spent billions of dollars," considering that "if this connection is made, it will indicate the government's short-sightedness economically."

He added that "the alternative to railways and connectivity is to announce the dry canal linking from FAO to Turkey and Europe, and this strategic project will enter an additional budget where about 200 dollars will be imposed on one ton of goods passing through Iraq, which are huge sums."

Al-Bukhati called on the House of Representatives to "stop any project that stands against the great port of Faw, whose profits are estimated after 20 years at about $ 100 billion, equivalent to Iraq's oil budget, which no Sharif can ever give up."  LINK

Samson:  The National High Speed ​​Internet Project announces the start of its service with 500 homes

17th March, 2021

The National Internet Project

Saadoun indicated that "the national project has contributed a large percentage to curbing smuggling, and it is not related to the telecommunications and Internet sectors only, but to the educational, health and even security sectors by providing an environment, capacities and real internet networks for the subject of surveillance cameras, and all that is needed by the competent institutions to install security in Baghdad and the provinces."    LINK

DeepWoodz:  Imo....This is a VERY big deal and part of the technology infrastructure needed to facilitate the RI.

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Samson:  Saleh : A Presidential effort to recover the stolen money from Iraq

17th March, 2021

Today, Wednesday, the President of the Republic, Barham Salih, revealed a presidential effort to recover the looted funds from Iraq.

Saleh said, in a televised interview, seen by the "National News Center," that "the file of corruption is dangerous and huge and needs broader and deeper treatments, but with all these challenges there were procedures and there are courts that worked to rule in important cases of corruption."

He added, "I am in the Presidency of the Republic, in the process of putting the final touches on a legal code that we will discuss with Parliament, to put in place mechanisms to recover the stolen money from Iraq, which may have gone to capitals and investments abroad."

He stressed that "striking financial corruption is essential to establishing security, and if we do not have fair elections, and the Iraqi feels reassured that his vote is protected and his decision is respected. It is not tampered with and is not changed through fraud and other measures, security will not be established."  LINK

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Samson:  Integrity: the former director of the Iraqi Trade Bank was issued with a prison sentence

17th March, 2021

Today, Wednesday, the Federal Commission of Integrity announced that it issued a prison order to the former General Manager of the Iraqi Trade Bank (TBI), while it clarified the details of its appeal against the release decision issued by the Al-Karkh Criminal Court / First Body, against him in the case of granting a loan without adequate guarantees.

The commission stated in a statement that Mawazine News received a copy of, that “after it was not convinced of the release decision issued by the Al-Karkh Court / First Commission, it decided to appeal it to the Federal Court of Cassation,” indicating that “the Federal Court of Cassation decided to accept the appeal submitted by the Authority. Deciding to return the case to the criminal court."

The statement added, “The Karkh Criminal Court / First Authority, and following the discriminatory decision issued based on the appeal submitted by the commission, issued a new sentence in absentia, serving a seven-year prison term against the former director general of the Iraqi Trade Bank (TBI).”

He pointed out, "The case centered on the violations that were included in the loan granted to one of the bank's customers at the time the convict occupied the responsibility of managing the bank, as the investigations conducted by the authority at that time led to the fact that the loan was granted without sufficient guarantees."   LINK

DeepWoodz:  Imo....Another step towards SECURITY & STABILITY.

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Kurdistan announces the date of salary disbursement, with a deduction of 21% for employees

17th March, 2021

the Ministry of Finance in the Kurdistan Regional Government announced today, Wednesday,
The salaries of employees for the current month of March will be distributed as of Thursday 3/25/2021. The statement added: The distribution mechanism will be as it was last month, with a deduction of 21% for employees and 50% for special grades.  LINK

TIM:  imo how do you do that on a programed rate? you dont. imo something is happening

DeepWoodz:  Yes I think it’s unanimous. From MM on down through the ranks and finally to me. It only makes sense with an RI. Imo

Pete2001:  Deepwoods, is this good or bad in your opinion for us?? thanks in advance  

DeepWoodz:  Well Pete imo...On the surface it appears to be a signal that someone is keeping a good secret. Like how can you expect the citizens to take this beating. By offering them a ration card? Nah

It gives me hope that they are going to do something big, like add purchasing power to their currency. Just like we been hearing from Frank and teams. 

Of course things they do don’t have to make sense. We assume that Kadhimi and Allawi care about the welfare of their citizens. We also assume that a positive rate change is the only means of helping the citizens. The whole while they are trying everything else first. I guess it’s part of being fiscally responsible first. Getting the country off to a solid foundation. Then adding the wealth when they are capable of managing it better. 

It’s a critical period right now that has to change soon imo. Things are getting worse for the people especially when they keep seeing their salaries come in with these deductions. 

Add taxes to it probably when the budget comes out. 

Samson:  Central bank sales of hard currency are recording a noticeable decline

17th March, 2021

The central bank’s hard currency sales fell, on Wednesday, for a third consecutive day, recording only $ 32 million.

The auction of buying and selling foreign currencies, according to the Central Bank's daily bulletin, saw a decrease in its sales by 31.71 percent, to reach 32 million and 827 thousand dollars. The bank’s daily bulletin stated that it "covered its sales at a base exchange rate of 1460 dinars per dollar."

She added that "the purchases amounting to 32 million and 827 thousand dollars, went to strengthen the assets abroad in the form of transfers and credits, while the banks did not make any purchase of dollars in cash."

The bulletin indicated that "six banks have fulfilled the requests to enhance assets abroad." It is noteworthy that the central bank’s sales of hard currency, on Tuesday, amounted to 48 million and 67 thousand dollars.    LINK

Bravo13:  Does this mean they don't want american dollars because they know their own currency is going to be worth quite alot in the near proximal future, not sure I fully understand this subject but that's how it appears to me. 32% is a big change in just a few days. imo

Add this to their lowering the employees salaries by 20 and 50% after just decreasing their purchasing power by what 20% just 3 months ago and they are lowering these wages on the 25. Huge huge clues here i would say. they can't do this to the citizens without them having an absolute break down fit. All this tells me they are going to Raise the value and do it before the 25 !!!   all imo

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Samson:  Iraq and Hungary sign a comprehensive economic agreement

17th March, 2021

The Ministry of Trade, Alaa Ahmed Al-Jubouri, announced, on Wednesday, the signing of a comprehensive economic agreement with the Hungarian ambassador to Iraq.

Al-Jubouri said, according to the official agency, that "an agreement was signed with the Hungarian ambassador, and the agreement will be comprehensive between the two parties, as the importance of this agreement was discussed with the ambassador, its importance and the number of countries that signed it."

He added, "Discussions were held with the Hungarian side in economic relations, as trade exchange between the two countries reached 45 million dollars," indicating that "there is an idea to hold a hypothetical conference between businessmen of the two countries and to study investment opportunities."

Al-Jubouri added that "the embassy praised the decision to grant a visa upon arrival at the airport, where it must be economically invested," noting that "there will be other investment meetings, and the ministry is about to open an international center for Iraqi trade and this will regulate the commercial work in a large way." There are centers for countries that are interested in the Iraqi economy."

He explained, "There will be centers for countries that are interested in the Iraqi economy, and this will reduce the red tape and corrupt episodes that led to mistrust, as the dealings are direct through those centers."  LINK

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Samson:  Iraq is discussing with Finland the issue of nominations for international positions

17th March, 2021

Head of the International Organizations and Conferences Department, Abbas Kazem Obaid, met the Finnish Ambassador to Iraq, Mr.Visa Häkenenovy, at the Ministry's headquarters, on Tuesday.

And a press release conveyed that the two sides discussed during the meeting ways of cooperation between the two countries in international organizations and mutual support between Iraq and Finland on the issue of nominations for international positions, stressing to move forward on the issue of joint coordination between them.   LInk