KTFA:

Samson: What is the truth about Al-Kazemi's travel to Washington next week? LINK

Ryan1216:  Kazemi conducting dialogue with Washington through closed-circuit television would be perfect. The meeting would happen quicker and he can quickly turn around and announce the new rate to the people. All IMO  

MilitiaMan:  That is a very good eye you have! I have the same perception as well. Teams spoke of the very subject this morning. The muddy waters in that he is coming, was to come early, not accurate as to a date when he is coming, etc.. Having a closed circuit meeting makes sense, saves time money and possibly lives. This is getting oh so good. now.. imo As it has happened in the first round.. lol !~ MM

MilitiaMan:   They are on the right track. Imagine if they were not a program rate anymore..(smile)

Samson:  Customs announces that its monthly revenues have reached 70 billion dinars

30th July, 2020

On Thursday, the General Customs Authority confirmed that exemptions granted in accordance with the law contribute to the loss of two thirds of the imports available to the state

"The commission called for a reduction in the volume of exemptions granted, as it causes approximately two-thirds of the revenue available to the state to be lost, especially since some agencies take advantage of these exemptions and multiply the goods entering their account," said Khaled Salah El-Din, director of the commission

Salah al-Din added, "The commission suggested that all exempted goods be drawn and paid for, which contributes to achieving a revenue jump and limits the possibility of using the exemption law to introduce double goods without paying the fees

He continued, "The revenues achieved by the authority are now estimated at 70 billion dinars per month as a result of the intensification of control procedures at the outlets, considering the returns are good in conjunction with the confusion of global trade and economic conditions," noting that "the customs revenue for the Kurdistan region is still not transferred to the center, and that the officials there reported The Center continues to work under the applicable customs tariff law, and there are correspondences between its department and officials there

He explained that | the Authority, and to ensure that the non-drawn goods were not infiltrated, deployed its employees outside the official working hours to audit the goods entering from the northern region   LINK

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DeepWoodz:  From previous thread, post 121, Tim and Osmosis asked about why these huge payouts to the USA and others. Well, for whatever reason A thought came to mind about foreign currency reserves. Something I probably read here some time in the past I don’t remember. But it makes sense to me.. check this out.  

What Are Foreign Exchange Reserves?

Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies. These reserves are used to back liabilities and influence monetary policy. It includes any foreign money held by a central bank, such as the U.S. Federal Reserve Bank.

Foreign exchange reserves can include banknotes, deposits, bonds, treasury bills and other government securities. These assets serve many purposes but are most significantly held to ensure that a central government agency has backup funds if their national currency rapidly devalues or becomes all together insolvent.

It is a common practice in countries around the world for their central bank to hold a significant amount of reserves in their foreign exchange. Most of these reserves are held in the U.S. dollar since it is the most traded currency in the world. It is not uncommon for the foreign exchange reserves to be made up of the British pound (GBP), the euro (EUR), the Chinese yuan (CNY) or the Japanese yen (JPY) as well.

I was thinking that maybe the other countries would possibly be the ones perhaps in the SDR basket with Iraq. Also, Frank said repeatedly to think about the value. I am probably totally wrong here but this is my best guess. P. S. I’m an electrician so forgive my ignorance

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Samson:  European Council: We can save Iraq from the domination of Iran and America

30th July, 2020

A report by the European Council on Foreign Relations said that Europe can play a pivotal role in reducing Iraq’s dependence on its two conflicting allies, the United States and Iran

The report, which was published by the council on its website, added that "Iraq faces serious political, economic and security challenges, including the return of the ISIS terrorist organization, and the escalating tensions between America and Iran. He pointed out that the choice of Mustafa Al-Kazemi as prime minister in Iraq, after widespread popular protests, led to breaking the political deadlock, and opened the door to a “small” window of reform in the country

The report emphasized that the drop in oil prices and the effects of the Corona pandemic, shed light on the fragility of the financial position of Iraq, as economic pressure threatens to create a new situation of instability, and opens the door for the return of the terrorist organization "ISIS", which escalates its attacks in the Iraqi rural parts, especially Territories: Diyala, Kirkuk, and Salah al-Din

Al-Kazemi's independence

The report pointed out that “Mustafa Al-Kazemi’s urgent mission will be by trying to restore some stability to the state, avoid economic collapse, and prevent American-Iranian tensions from igniting on Iraqi soil again. He pointed out that "it is not realistic to expect major political, economic and security reforms under the current circumstances, yet pulling the country away from the edge of the abyss will be a major achievement for Al-Kazemi, but he needs the support of Europeans

The report stressed that “Europeans must support Mustafa Al-Kazemi’s government, and cross the American-Iranian conflict, while improving the economic and political situation, which will help the Iraqi Prime Minister achieve greater independence from two major external players, the United States and Iran. He added that "Europe has many cards through which it can support the Iraqi government and prevent economic collapse, and can also play a role in the security file, and reduce Iraq’s dependence on America and Iran

The report noted that at a time when the Europeans must emphasize the rule of law in Iraq, especially the protection of the right to peaceful protest, this is expected to have a greater impact on efforts to support the economic and security sectors, and this would give the new Iraqi government greater momentum to address Political issues

Technical support

According to the report, European technical support can play a role in strengthening the competencies of local administration in basic services and financial management, and this support can be provided by deploying advisers to increase capacities in ministries and service directorates, and Europe can also be helpful in Iraq obtaining the IMF loan , Which is expected to be requested by Baghdad, with emphasis on the optimal use of this loan in achieving progress in economic reforms. The report also stressed that European governments should play a pivotal role in maintaining the international focus of mobilizing and securing financial support to stabilize Iraq, in light of the deteriorating economic conditions in the country

A source in the Iraqi government said that through economic and security communication, Europe should encourage the United States to invest in the support that will push Iraq to stand on its feet, and America will err if it does not allow Iraq to continue importing electricity from Iran, in light of the urgent Iraqi need for electricity, then This decision will undermine the efforts of Prime Minister Mustafa Al-Kazemi to restore stability to Iraq   LINK

MilitiaMan:  Get the International Rate live, and there can be the ability to finance many things through the IMF.. The IMF and WB have all the tools to help Iraq go into a social market economy. The world knows it now and especially the big boyz and girlz.. lol ~ MM

Samson:  Iraqi government implements wide-ranging security and other measures to secure border crossings

30th July, 2020

Iraq’s Joint Operations Command announced that it was deploying military forces to Iraq’s land border crossings and sea ports.

The deployment follows a pledge by Prime Minister Mustafa Al-Kadhimi to assert the authority of the state over all of Iraq’s border crossings to root out corrupt practices, stop the loss of billions of dollars in import duties and impose the rule of law.

The military forces have been deployed to the Um Qasr and Khor Al-Zubair sea ports, and to the Shalamcheh, Abu Flus, Badrah, Al-Mundhiriyah, Al-Shayb and Zarbatiyah land border crossings with Iran. Forces were also deployed to Safwan land border crossing with Kuwait, Al-Qaim border crossing with Syria, Trebil with Jordan and to Arar border crossing with Saudi Arabia.

Iraq’s Ministry of Defence also announced that Basra Operations Command is securing the perimeter of the Shalamcheh border crossing with Iran by constructing a trench and other barriers to prevent smugglers from using unofficial entry points near the border crossing to evade the official customs post.

Restoring the rule of law

 During a visit to Mendali border crossing with Iran in Diyala Province in July, the Prime Minister said that it was time to end corrupt practices at Iraqi border crossings and to confront what he described as the “shadowy figures” who intimidate and threaten Iraqi business people and citizens.

He added: This is a message to the corrupt: today we began restoring law and order. The time when public money was being wasted under different guises is over. Today we started a new phase, as we promised we would, with regard to border crossings, which have become a den, a conduit and a foothold for the corrupt. Iraq’s customs posts will be under the protection of military forces.

Later, during a visit to the city of Basra, the Prime Minister specifically addressed corruption at Iraqi sea ports and reiterated his determination and that of the Iraqi government to end corrupt practices and the waste of public money at the ports:

The ports of Basra must be under the authority of the state. Billions of dollars have been wasted at the ports which went to the pockets of the corrupt.

While in Basra, the Prime Minister ordered eight senior customs officials to be removed from their posts at Um Qasr ports.

Modernising customs operations

 The Prime Minister said that securing the customs posts and border crossings was the first step, to be followed by other measures including the modernisation of customs operations through the introduction of automation and streamlining procedures to combat corruption, end the waste of public money and improve revenue collection.

Wide-ranging reforms

Iraq’s Deputy Prime Minister and Minister of Finance Dr. Ali Allawi underscored, soon after coming into office, that this Iraqi government identified the diversification of the sources of state revenues, through ending the waste of public money, tackling corruption and increasing income from customs, as a top priority.

Dr. Allawi said that the new Iraqi government is committed to submitting a White Paper to Parliament in September 2020 which will set out a roadmap to reform the Iraqi economy, combat corruption, encourage investment and grow the private sector.

As I outlined when I came into office, this @IraqiGovt is determined to tackle corruption at Iraq’s customs posts, introduce automation and streamline procedures as part of our broader agenda to reform the economy and diversify revenues.#EconomicReformshttps://t.co/ScxewhBlkW

— Ali Allawi (@AliH_Allawi) July 30, 2020    LINK

MilitiaMan:  I like the Past Tense component in this article. I also want to reiterate White Papers are a work in progress and develop and change over time..  They have apparently secured the borders and are actively increasing revenues and put the corrupt on notice. WE just read where they have 70 billion Dinars worth a month. The re instate that number is going to explode.. imo.. ~ MM

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Samson:  Parliamentary Finance: The salaries of employees are insured according to the Borrowing Law

08:50 - 07/30/2020

Parliamentary Finance Committee indicated that the salaries of employees are secured after Parliament voted on the borrowing law, pointing out that the government will not present any budget for the current year as it will suffer from a deficit of up to 60 percent.

Committee member Jamal Ahmed told Al-Maalouma that the government has borrowing orders after the parliament voted to do so, and it can provide employees salaries without delay after what happened in the salaries of last June. He added that "the salaries of employees need $ 5 billion a month, while the current oil prices cannot provide these amounts, which is what called for parliament to pass the borrowing law."

Cougar ruled out that the government will present the budget for the current year, especially that it will suffer from a deficit of up to 60%," noting that "the government is currently busy with the budget of 2021."  LINK

MilitiaMan:  I recall the borrowing law had stipulations that required changes.. Lets see what they do.. Imo there is something afoot.. now.. They have new  new instructions or orders if you will.. Oh ya.. imo ~ MM