MilitiaMan and KTFA Members: "More Going On Than Meets The Eye" 2-20-2021

KTFA:

Samson:   The head of a parliamentary committee reveals an upcoming meeting to agree to pass the budget

09:13 - 20/02/2021

The head of the follow-up committee for the government program, Hazem al-Khalidi, revealed, on Saturday, an upcoming meeting between the three presidencies and political leaders to agree on passing the budget.

Al-Khalidi said in a statement to "the information", that "the three presidencies will hold several meetings during the next few hours to agree on the disputed items in the budget," indicating that "the meeting will discuss the crisis between Baghdad and Erbil, pass the budget, the date for its presentation, and what measures have been taken before Parliament after the arrival of the budget”.

Al-Khalidi indicated that "it is not possible to allow the Kurdistan region to agree outside parliament on the budget and to fully deliver its oil to ensure the rights of its people, as is the case in other provinces."

The Finance Committee in the House of Representatives announced, on Friday, that it will set next Thursday as the date for voting on the General Budget Law for 2021, despite the continuing differences between the center and the region.  LINK

Samson:   A deputy reveals that Baghdad and Erbil reached a "semi-final agreement"

11:52 - 02/20/2021

A member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, suggested starting the first session of voting on the budget next Monday, because she obtained information indicating that a semi-final agreement had been reached between the region and the center.

Jawdat said in a statement to "the information", that "information that we received from a confirmed source indicates that the Parliamentary Finance Committee and the regional delegation reached a semi-final agreement on the budget."

She added that "the two negotiating teams have reached compromise solutions that satisfy all parties", likely "holding a voting session on the draft budget bill next Monday."

It is noteworthy that the region’s delegation is still in Baghdad and is conducting numerous meetings in order to overcome obstacles regarding the region’s share and the dispute over the mechanism of work on the region’s oil, border crossings and taxes.   LINK

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MilitiaMan:  The talk and banter about the when in regard to the 2021 Budget is obviously for a reason to suggest something along the lines of look at my left hand while the right hand is doing something different for a purpose. The right hand is doing something that is within a time frame and it is all about a when, in respect to the execution of a mechanism.  In my view there is a when for an execution of one and it is inevitable and imminent. imo..

"As adjectives the difference between imminent and inevitable
is that imminent is about to happen, occur, or take place very soon, especially of something which won't last long while inevitable is impossible to avoid or prevent."

MilitiMan:  There is more that is going on around the world than meets the eye at first glance. If we think in terms of a digitized world communication comes to mind. Trade partners need to be able to communicate.

Therefore, they will need to be able to talk on a similar platform. The platforms are to have to be able to clear and settle transactions. 

They will also need language and expressions for the executions of mechanisms globally. Just like the AMF expresses their exchange rate at 3x the SDR basket of the IMF in SDR unit / US dollar terms. Not unlike other countries the all need to be able to communicate and all will have their way of expressing the way they will trade in terms of exchange rates (ER).

So what does this have to do with the 2021 budget...? The budget needs a mechanism (ER) prior to execution of it. The three presidencies all know there is to be a new e-government, e-finance, e-taxation, e-payments, etc.]

Just read the news today on the matter. It is real and is now coming into  play. Also, many other countries will be simultaneously interconnecting with each other, imo.

The Digitization for payments in Saudi Arabia starts internally tomorrow. The BUNA platform for the AMF is fully underway and it is inclusive of the USD among the middle eastern countries that are many. The IQD is to be one of them!! 

The mechanism that is being hid under the guise of the budget banter back in forth is about to be executed out to the world. It has to. There is no longer a choice in the matter. Why?

They us tell why. The devaluation of the IQD is one reason. It is inflationary and fixes nothing.  They are to return to the previous era to accomplish what the white papers have outlined for the future.

There is a time frame within them, I'll bet timed accordingly to interlink global trade and on a level playing field. imo ~ MM

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17th February, 2021

The government warned of the "dangers" of not adhering to the reform plans contained in the "white paper",  noting that the paper works to  create the appropriate conditions for the country's economy to recover and grow

The IMF expects the Iraqi economy to recover in 2024 Monday

 15th February 2021 10

They welcomed the fiscal reforms that the authorities are planning to undertake, as mentioned in the “white paper”, and urged that care be taken in setting their priorities and speeding up their implementation with the limit. Of its impact on the categories Fragile. (vulnerable citizens)

The budget. They agreed that adjusting the exchange rate would help reduce external imbalances and preserve foreign exchange reserves. They stressed that a strong fiscal framework is still necessary to ensure the credibility of the new exchange rate against the dollar and reduce the need for monetary financing for the budget in the future.

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Yes Iraq: Baghdad

The talk returned again about the exchange rate of the dollar against the dinar, and the need to reconsider it, despite the final discount revealed by the Finance Committee throughout the previous period, not to tamper with the exchange rate or return it to its old price and fix it in the budget.

Talking about political consensuses or parliamentary attempts, which ended and the door was closed to them after the statements of the Finance Committee, but a conversation has been going on for days about a "legal loophole" that may return the exchange rate to its previous era.

Al-Aqabi explained that "the current trend is towards forming a political bloc that mobilizes in order to restore the unfair decision against the Iraqi economy to raise the price of the dollar and return it to its previous era." Link

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DeepWoodz:  Article 88

Communications is looking to implement the electronic transformation project in the Ministry of Labor

“based on the directives of the Minister of Communications, Arkan Al-Shaibani, regarding the need to accelerate the implementation of electronic transformation projects in ministries and government departments within the e-government projects”

.......instead of looking for the budget to reveal the rate.....FOR FUN!......I’m thinking more along the lines of bringing the rest of the government up to speed....as mentioned in this article.

I mean, if your asking what in the world are they waiting on.....

Technology to facilitate transparency?

With all they’ve done in the banking system, is it a stretch to think they also need 4G and e-government to be up and running? 4G was recently brought up on an experimental level from previous articles. 88 mentions their e-government is a work in progress. 

I’m just trying to reason out why they allow the citizens to suffer on and on. There has to be something besides a lack of concern.

We’ve learned Buna is ready and even Kadhimis financial advisor is telling everyone...and I quote...

“Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to advance the public and private sectors.” Post 23

I REALLY LIKE the word BRINK!!!

PS.....I say these things totally in agreement with MM comments above!

Don961:  A new system for instant transfers between clients of Saudi banks

Posted 2 hours ago

News source / Independent Press Agency

The Independent / - The Saudi Central Bank launches, starting from Sunday morning, a new system for instant transfers between bank customers, operating around the clock, at a lower cost, with the aim of enabling financial institutions, companies and individuals to complete transfers between different banks in a more flexible manner.

According to a statement by the Central Bank, the new system contributes to reducing dependence on cash, as well as reducing operational costs.

In its statement issued today, Saturday, the Central Bank said that the system developed by “Saudi Payments” will enhance economic development by increasing the effectiveness of financial transactions between all parties in the corporate and retail sectors, and enabling banking institutions and financial technology companies to improve existing financial products, and manage cash flows for the sector.

It will also contribute to increasing transparency in payments between companies and individuals, activating innovation in financial services, as well as raising the quality of services provided to the final beneficiaries.

The percentage of transfers executed between banks in Saudi Arabia through the Saudi Rapid Transfers System jumped 30% in 2020 to reach 52.3 trillion riyals, compared to 40.3 trillion riyals in 2019, according to data from the Saudi Central Bank.

The post A new system for instant transfers between clients of Saudi banks appeared first on the Independent Press Agency.   LINK