KTFA:

MilitiaMan:  The HCL is ready to be voted on next week. 0 cash sales in the Auctions. 2021 Budget to be voted on next week as well.  The timing of these things is by no coincidence. It is to be show time.. imo. I highly doubt they came this far to go into a private or market economy at less than a program rate of 1460.. SDR is still $1.44 real close.. imo ~ Things looks very good. ~ MM 

Samson:  EUR 22.5m Project to Strengthen Iraqi Agriculture

21st January, 2021

Unemployment remains a persistent challenge in Iraq especially for youth and women. Many internally displaced persons are unemployed, underemployed, informally employed, or out of the labour force.

The COVID-19 pandemic has further compounded these employment challenges. In this context, providing jobs and livelihoods remains a high priority in order to promote social cohesion and improve resilience. Agriculture has the potential to make a major contribution to employment in Iraq but is affected by low farm productivity, weak value chains and a challenging business environment.

To address this, the EU is launching a EUR 22.5 million project, 'Strengthening the agriculture and agri-food value chain and improving trade policy' (SAAVI). The five year project is being implemented by the International Trade Center (ITC) in close collaboration with the Government of Iraq and other local partners

SAAVI seeks to enhance the competitiveness of agriculture and related activities and improve trade policy in Iraq. It will address farm and firm level challenges and strengthen the value chains in the agriculture sector. This will be done through analysis of the value chain, introduction of new production strategies and training to farmers on product diversification for domestic markets.

It will also build the capacities of micro, small, and medium enterprises and broaden the knowledge and skills base for youth including training on entrepreneurship and business skills. Technical and vocational skills programmes will also be strengthened to better match the needs of the private sector.

Support will also be given to policymakers and key institutions involved in the WTO accession process, including capacity building on trade negotiation, policy formulation, and coordination. WTO membership will help Iraq to complete domestic policy and reforms for the modernization of its business environment and achieve effective integration into global economy. Since the process of negotiation towards WTO accession is unique to each country, project activities will assist officials throughout the process.

The EU Ambassador to Iraq, Mr Martin Huth said:

"The EU is committed to supporting efforts to increase economic opportunities across Iraq. Agriculture value chains have the potential to provide decent work to many young Iraqis, men and women. At the same time, the project will support the Iraqi government as it develops its trade policy and progresses towards the country's accession to WTO, which is a key component of economic development and job creation."

The Executive Director of the International Trade Centre, Ms Pamela Coke-Hamilton said:

"ITC is committed to assist the government and MSMEs in Iraq to increase the competitiveness and diversification of the economy. We will use our experience in strategy design and value chain development to support MSMEs in the country better realize their potential for job creation and income generation. Together with our partners, we will strengthen the agriculture and agri-food value chain, and support trade policy interventions aligned with government priorities".

Unlocking the potential of the agriculture sector of the country will lead to the creation of employment and entrepreneurial opportunities for youth particularly those living in rural areas who have been affected by prolonged conflict. The project will also contribute to mitigating the socio-economic impact of the COVID-19 pandemic, which is presenting new challenges for Iraq, and help in the reconstruction of the rural economy. It forms part of the overall EU approach to employment creation, private sector development and agribusiness in supporting economic recovery and reform in Iraq.

About the International Trade Centre

The International Trade Centre (ITC) is the only development agency that is fully dedicated to supporting the internationalization of small and medium-sized enterprises (SMEs). Established in 1964, the ITC is the joint agency of the World Trade Organization and the United Nations.   LINK

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Samson:  Al-Tamimi reveals the date of the vote on the budget: resolving disputes is imminent

21st January, 2021
A member of the Parliamentary Finance Committee, Majida Al-Tamimi, revealed the date for voting on the draft budget law for the current year.

Al-Tamimi said in a statement that Mawazine News received a copy of, that "the committee's meetings are continuing with hosting several official bodies to find out the accurate data for each ministry and institution to explain some of the articles and the extent of their economic feasibility, in preparation for taking decisions on controversial articles and after reviewing the most prominent obstacles facing each." Side".

She pointed to "the diligent work of the sub-committees formed by the Finance Committee to provide detailed reports on the budgets of the three presidencies, ministries, institutions and all bodies, and from the principle of exchanging visions in preparation for resolving what is related to the 2021 budget, especially with regard to reducing expenditures and increasing revenues."

It stated that "it is hoped that the budget will be presented to a vote within days."  LINK 

MilitiaMan:  I'll second that motion.. Within days lines up with the WTO, UN, HCL, Taxation of salaries possibly.. Lets see what they do..

Going to the private sector is going to need an international rate of exchange.. imo

If they revealed they date? They are being shy about telling us exactly when.. lol ~ MM

Samson:  Foreigners' possession of US bonds is declining for the fourth consecutive month

20th January, 2021

Foreign holdings of US bonds witnessed a significant decline for the fourth consecutive month, as Japan continued to reduce its ownership of debt.

The US Treasury Department showed in a report issued yesterday evening, Tuesday, "The total holdings of US bonds by countries in the world decreased to $ 7.053 trillion last November, compared with $ 7.068 trillion during the previous month.  Japan reduced its holdings of US debt from 1.269 trillion dollars to 1.260 trillion dollars in November, but it still maintains the top of the list of countries that have the most American bonds. China, which is ranked second, raised its holdings of US debt to $ 1.063 trillion last November, from $ 1.054 trillion in the previous month.

In the third and fourth places, the United Kingdom and Ireland reduced their possession of US bonds to $ 420.3 billion and $ 314.3 billion, respectively. Luxembourg, which is ranked fifth, raised its holdings of US government debt from $ 266.2 billion to $ 267.8 billion last November. In sixth and seventh place, Brazil and Switzerland reduced their holdings of US bonds to $ 262.2 billion and $ 253.6 billion, respectively.

Belgium, which ranks eighth, increased its holdings of US debt to $ 240.5 billion. In ninth place, Hong Kong reduced its holdings of US bonds to 226.5 billion dollars, while the Cayman Islands raised its possession of US debt to 222.9 billion dollars, to come in tenth place.  LINK

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Samson:  Oil Parliament reveals the completion of the legal drafting of the oil and gas law

21st January, 2021

The Parliamentary Oil and Gas Committee revealed, on Thursday, that the legal drafting of the oil and gas law has been completed after all disputes regarding it have been addressed and the three components agree, indicating that Parliament will vote on it soon and before the end of its current session.

A member of the committee, Deputy Zaitoun Al-Dulaimi, said in a press interview, that "all the disputes related to the oil and gas law have been handled in accordance with the three components," indicating that "the legal drafting has been completed and the law has been submitted to the presidency for the purpose of submitting it to a vote."

She added that "the presentation of the law to the vote will take place soon and there are no new obstacles to postponing it," stressing that "the adoption of the law will inevitably be approved during this parliamentary session."  LINK

Jerry1971:  IMO Another HUGE Article HCL law Draft completed after all its disputes have been addressed and thereafter ready for voting during this parliament session one by one more confirmation of the dinar being ready to be exposed to the citizens in the coming weeks by the GOI/CBI IMO .Thanks Samson as always.

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Samson:  A new explosion targets an international coalition convoy in southern Iraq

21st January, 2021
On Thursday, a convoy of the international coalition in Iraq was exposed to an explosive device detonated in southern Iraq.

A security source informed Shafaq News Agency; An explosive device targeted a logistical support convoy of the international coalition on the Samawah highway in southern Iraq.

Source added; The explosion caused damage to the tires of the wheels, but no casualties were reported.

LINK