More News, Rumors and Opinions Tuesday Afternoon 10-10-2023
TNT:
CandyKisss: What does the US Federal Reserve have to do with the federal budget?
{Economistic:Euphrates News} A senior source revealed, on Tuesday, that the US Federal Bank is behind the failure to release financial allocations in the budget.
The source told Alfrat News that "the reasons behind not releasing financial entitlements and allocations in the budget are due to the problems of the intervention of the US Federal Bank as well as belongings in the Ministry of Finance."
"The Fed is still in control of the financial budgets," the source said, predicting that "this will end two weeks from now."
In June, the Iraqi parliament approved a 2023 budget of 198.9 trillion dinars ($153 billion) that includes record spending on a rising government wage bill and development projects aimed at improving services and rebuilding infrastructure destroyed by neglect and war.
Various Iraqi parties attributed the delay in launching financial allocations in the federal budget for the year 2023 to various reasons, including technical and political differences related to the Kurdistan region's share of the budget.
For his part, a member of the Parliamentary Oil and Gas Committee, Ali Saadoun, criticized the delay of the Ministry of Finance in launching allocations and funding for ministries and governorates.
"The parliament approved the price of a barrel of oil in the budget at $ 64 per barrel, and in fact that the oil prices since the adoption of the budget so far are at a rate of $ 80 to 90 dollars," Saadoun told {Euphrates News," he said to the agency, "There must be an accountant for the Minister of Finance and explain the reasons why the provinces and ministries have not yet been funded.
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Tishwash: Al-Shammari: Oil, gas and energy issues are at the top of the agenda of Sudanese discussions in Russia
The political advisor to the Prime Minister, Fadi Al-Shammari, said on Tuesday that the visit of Prime Minister Muhammad Shia Al-Sudani to Russia, during which Russian-Iraqi discussions will be held to discuss political, security and economic files and discuss bilateral relations between the two countries.
Al-Shammari added in a statement, “The summit meeting between the two presidents will include a group of strategic issues related to world peace, the energy file, and Iraq’s commitment to settling debts and related financial obligations, given their impact on Iraq’s credit rating.”
He pointed out that "President Putin expressed his aspiration to discuss security in the Middle East region and security files that enhance Iraqi internal security," noting that "Moscow confirmed its support for the development road project that connects the ports of the Middle East with Turkey and Europe through a network of roads, railways and energy infrastructure." And support the diversification of Iraq’s economy to reduce the heavy dependence on the oil sector.”
Al-Shammari pointed out, "The visit will include discussing oil and gas files, as cooperation in this sector is one of the most important axes of the economic partnership between the two countries."
Al-Shammari stated, "The dangerous developments of the current events in occupied Palestine were discussed, and Iraq called on Russia to call on the permanent members of the Security Council to take urgent action and stop the ongoing attacks on the Palestinian territories and the targeting of civilians there."
Al-Shammari warned that “oil, gas and energy issues are at the top of the agenda of the discussions, given that Iraq and the Russian Federation represent the largest oil-producing countries in the world and their impact on the stability of the oil market and its implications for global stability.”
Al-Shammari concluded the statement by saying, "Russia affirmed its position in support of Iraq's stability and enhancing the investment environment and economic growth in the country. In addition, the cooperation of the two countries can contribute to diversifying Iraq's economy and achieving greater sustainability in the future." link
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Courtesy of Dinar Guru
Militia Man Article: "The Iraqi Central Bank issues a warning to banks regarding dollar deposits." A fresh edict from the central bank...Spelling out that the citizens have the right to redeem their deposits in the banks and that the monies are guaranteed and it is their inherent right to do so through or by the year 2024. None the less the unprecedented crowds ensued...What is unusual is...the way the Central Bank exposed those [banks] that didn't have the money on hand were apparently found to be speculating with depositors funds in dollars. That is not good and there will be consequences. The Central Bank is now going to take measures against banks that abstain from taking care of their obligations to the citizens.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The dollar is out of control and we afraid from what TV says makes like we are in trouble. FRANK: It's just the same ole exaggeration...please don't drown on a drop of water...Both Alaq and Sudani are doing the monetary reform and they're doing it to the best of their abilities. I will admit they are kind of slow and I wish they would speed it up. One of the requirements is to remove all foreign currency because you are now a sovereign country with a sovereign national currency which will soon have a new international exchange rate...
AS WE EXPECTED! Risk In The Market Has DROPPED, But It WILL NOT LAST! Expect ANOTHER FF.
Greg Mannarino: 10-10-2023