More News, Rumors and Opinions Friday Night 10-16-2020
KTFA:
Samson: Representative economics: The white paper includes the conditions of the World Bank that affect the life of the citizen
16th October 2020
A member of the Parliamentary Economic Committee, Mazen Al-Faili, confirmed, on Friday, that the white paper for reforms includes the conditions of the World Bank, while he indicated that borrowing is a bitter option, but it is necessary.
Al-Faili said, "The reform white paper prepared by the Council of Ministers reached the House of Representatives for the purpose of detailed discussion," explaining that it "contains the conditions of the World Bank, and these conditions are excessively strict, and affect the life of the citizen who must not bear the mistakes of previous governments."
He added that "the reform materials in the white paper are implemented over a period of three years to reform the financial and economic situation in the country, as Iraq is currently suffering from a lack of financial returns with a delay in the process of disbursing employees' salaries," noting that "the paper includes reform points that are implemented in the long run, and reform materials." Others should be applied in the licensing rounds, and the oil agreement with OPEC, given that the global economic situation has differed from the previous one."
He pointed out, "Borrowing is a bitter option, but it is imperative, and we must reconsider taxes, levies, and expenditures, and search for new doors to increase revenues so that the citizen and employee are not affected." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 ...I bought my dinars in 2004 so that's 16 almost going on 17 years now and I remember way way way back then somebody said to me 'Frank the day that you see the HCL for the citizens of Iraq in the next breath you will see the new exchange rate'...17 years has gone by and [Tuesday] my teams finally saw the HCL...What did I say IMO was inside of the 'white papers'? The rate - How much they're going to value it when they lift the 3 zeros form their exchange rate and the date of when they're going to announce this to the citizens of Iraq. What else did I say the white papers contained? The HCL. Wow...no wonder those white papers make sense...
Frank26 The HCL - It's a law of the National Oil Company. It has 4 major laws in it...the last line item law that they have been working on to complete at least for 17 years...It's the biggest law in contention - basically asking, Who controls the oil and gas in Iraq? Who distributes the profits that belong to the citizens?...who's in charge of doing this? Now what happened [Tuesday]...this is to remove any distinction between Kurdistan and Baghdad. The question of who is going to control the oil and gas revenues coming into Iraq is now established...it's going to give birth to the Hydrocarbon Law...that is huge. That is tremendously important in order for them to give a date and the rate.
MilitiaMan ...When they say "reducing the value of the Dinar", they mean the reduction of the three zeros from the exchange rate. They are not going to be devaluing the currency. By "reducing the zeros from the exchange rate" (raise the value) allows them to go into the or a market economy where the real competition is. It will activate the industrial and agricultural sectors when doing so. imo...This supports they are at that final stage to set that gem in place. ...It is the FINAL REPORT and they are now to have or have presented the necessary legislation to proceed with implementation procedures. This is very good indeed! I suspect they have every intention now with all the work done and sorted accordingly, we are in a very good place to see the golden ring. ~ imo.
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