More News, Rumors and Opinions Monday Afternoon 4-29-2024
KTFA:
DeepWoodz: On June 12, 2023, the GOI passed what they call the tri-partite budget(THREE YEARS). So the operational side has been done since then with no need for any votes by parliament. According to their constitution, Article 62 states the only control parliament has.
”Second The Council of Representatives may conduct transfers between the sections and chapters of the general budget and reduce the total of its sums, and it may SUGGEST to the Council of Ministers that they increase the total expenses, when necessary.”
Which is really no control at all.
We used to get articles all the time about the need to pay salaries. I haven’t seen these much lately, if at all. Something else missing has been the START of new contracts and their costs. Although, we know they have projects going on, but still some info is missing.
DeepWoodz cont…..With the added 400 billion in new agreements Sudani spoke of. That’s billion dollars too by the way. Convert that to dinar if you like and see if you think Iraq has ever had that many dinar printed.
Then we have the HCL rights which are defined in the constitution as well, but still nothing on paper.
Obviously Sudani’s government is keeping a secret. I wonder what that could be?
Wouldn’t these three items be dependent on a NEW value to their currency? I have no doubt.
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Clare: Parliamentary Finance: The positive results of Sudanese’s visit to Washington will appear soon - Urgent
4/29/2024 Baghdad
The Parliamentary Finance Committee confirmed today, Monday (April 29, 2024), that the positive results of the Prime Minister’s visit to Washington will appear soon.
Committee member Moeen Al-Kazemi told “Baghdad Today” that “the visit of Prime Minister Muhammad Shia Al-Sudani to the United States of America achieved great and important success at the level of various economic and investment files, and these results will soon appear on the ground, especially with regard to the strength of the Iraqi economy.” And the dollar file and its complete control.”
Al-Kadhimi stated, “The government has made great progress in controlling the dollar and preventing any manipulation of the currency in the local market by some merchants and others. This is why we see a noticeable decline in the exchange rate in the parallel market, and the coming days will see a greater decline, as well as the implementation of the economic agreements with Washington.” "It takes time."
The dollar exchange rates are still high and declining from time to time, while observers expect Iraq to witness greater development in the economic sector in various related fields, in addition to the energy sector, with the Sudanese visit focusing on creating a shift in the relationship between the two countries and not being limited to the security aspect.
Especially with the Sudanese signing 18 memorandums of understanding during his visit to Washington 10 days ago. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Nader From The Mid East People calling me since last Thursday asking me, 'We hearing the exchange rate will change on Monday?' ...I didn't see anything about Monday. I see really good news. I believe with all this going on they should go for it. I think they're ready. I don't know when or why not. Some people saying Monday...before the end of the month...May... July. It's all prediction. I wish it could happen now. Today...Let's watch it...
Frank26 WEF [World Economic Forum]...no doubt this is good. World exposure, this is good...They're being invited to the big boy corrupt party because they have a big boy exchange rate. That's the important thing.
Mnt Goat The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi...Article quote: "...the completion of the files for the initial offer of goods and services within the files for joining the organization”. No, they did not yet announce Iraq’s full
accession to the WTO but this is certainly getting close...I assume sometime soon, the National Committee will hold its third meeting with Iraq on the accession review... With the US now backing Iraq this should move along quickly now.
Economic Shock: Bombshell GDP Drop, IMF Slams Congress Spending, Republic Bank Collapses
Sean Foo: 4-28-2024
Despite huge deficit spending, US GDP has fallen down to 1.6 percent in Q1. This should be alarming as the endless borrowing can't seem to prop up the US economy.
The IMF is scolding the US Congress for their spendthrift ways, highlighting how this is putting the global economy at big risk.
Meanwhile, Republic First Bank has collapsed in the US, signalling a resurgence in bank failures thanks to higher interest rates.
Here's what you must know!
Timestamps & Chapters:
0:00 US Inflation Crisis Not Over
2:56 US GDP Falls Hard
6:29 IMF Slams Congress To Stop Spending
9:47 New Bank Failure Erupts
12:42 Stagflation Future