More News, Rumors and Opinions Sunday PM 7-17-2022
TNT:
Tishwash: Iraq prepares documents for accession to the World Trade Organization
The International Trade Center stressed, today, Sunday, the importance of Iraq's accession to the World Trade Organization, pointing to the preparation of special documents on this, as Iraq is in the middle of the road to joining the World Organization
The International Trade Coordinator at the Center, Israa Al-Jabari, told the Iraqi News Agency (INA), that "Iraq is in the stage of joining the World Trade Organization, as it submitted an application for accession from 2004 and was approved by the organization, and Iraq is currently an observer member of the organization.
She pointed out that "the organization is global and contains 168 countries and has agreements, laws and special conditions for accession," explaining that "any country that wishes to be a member of the organization must implement its internal laws, strategies and policies in accordance with the agreements of the World Trade Organization
She pointed out that "the International Trade Center is working to help Iraq to provide technical and technical support in harmonizing laws and agreements with regard to its accession to world trade, and there are important documents that are being worked on.
The International Trade Coordinator noted that "the main part of communicating with the organization in order to join is the Ministry of Commerce, which in turn presents the file, which includes all the relevant ministries in Iraq, in addition to the private sector," stressing that "striving to work on preparing special documents for accession in accordance with agreements Trade Organisation.
She added, "Iraq has industrial and agricultural qualifications and trade exchange, but it needs to work on studying and developing the applicable policies so that there is harmonization with the laws of the organization," noting that "Iraq is currently in the middle of the road to join.
Al-Jabari alluded to "the importance of Iraq's joining the organization, as it deserves to be part of the international commercial, industrial and economic community, especially since its accession will be part of this international community and can organize its economic and commercial policies, including trade exchange in accordance with international laws that serve it with all concerned parties." dealing with it in the future. link
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RVAlready: Yes. The WTO will force Iraq to fix its non-oil product shortcomings, which its leaders have failed to develop.
TP40: And a real currency rate… not a program rate ?
Dutchie: This shows where Iraq is in accession to WTO, long way to go yet... https://www.wto.org/english/thewto_e/acc_e/a1_iraq_e.htm
Lena: Dutchie, I agree. If Iraq is trying to join world trade organization we have a ways to go
TimbweMan: I would be surprised if WTO qualified is a requirement as they already are fully engaged with European powers…that are part of WEF. But as we say, Time Will Tell,
RVAlready: It isn’t required. But I think Iraq wants to join the WTO.
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Tishwash: Al-Kazemi issues an urgent directive regarding the Food Security Law
On Sunday, Prime Minister Mustafa Al-Kazemi directed all ministries to mobilize their efforts to implement the provisions of the Food Security Law. A government source told Shafaq News Agency, that the focus will be on the items related to returning their nullified contracts, appointments of graduates, holders of higher degrees and the first, in addition to fixing contracts, adjusting daily wages, supporting and improving the ration card and social care.
In light of the failure to approve the 2022 budget, the Iraqi parliament passed the “Emergency Support for Food Security and Development” law, in a move that allows the government to spend on various priority projects with the aim of achieving food security and stability in the country. The law's expenditures were set at 25 trillion Iraqi dinars (about $17 billion). link
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Courtesy of Dinar Guru
Walkingstick [via Frank26] Everything is ready at the CBI for the new exchange rate. The only only action right now is the constant recalculations of the barrel of Iraqi oil...What do you think oil is going to get too? ...$150.
Samson Article: "Shocking number... How much is the percentage of 'idle money' in Iraq?" Quote: "70% of the money in Iraq is hoarded in homes, that is, idle, and far from the banks that, if invested, would move economic activities, explaining, that "leaving this money away from the banks is a strategic mistake that needs solutions."
MARKETS A LOOK AHEAD: And So It Begins.
Greg Mannarino: 7-17-2022
A Tale of Two Dollars - Ep 826
Petr Schiff: 7-17-2022
Consumer prices reported hotter than expected. · Dollar is rising on the greater fool theory. · Inflation is not a product of expectations. · It's good politics to talk about fighting inflation. It's horrible politics to actually fight it. · Investors sheltering in the U.S. dollar abroad are in for a rude awakening.