News, Rumors and Opinions Thursday Morning 10-15-2020
TNT:
Tishwash: Member of Parliamentary Finance: The White Paper does not require a vote by Parliament
On Thursday, a member of the Parliamentary Finance Committee, Jamal Cougar, described the "white paper" announced by Prime Minister Mustafa Al-Kazemi as a "road map and strategic vision" to solve the economic crisis in Iraq, while noting that it "does not need" a vote by the House of Representatives.
Cougar said in an interview with Alsumaria News, "The white paper is a road map and a strategic vision to solve the economic crisis, not the immediate emergency financial crisis, as what was included in the paper is a reform vision of the economic situation of the Iraqi state in a comprehensive manner," indicating that "this needs to be A long time, up to three years, as the government itself made clear. "
He added Cougar, "The Parliamentary Finance Committee agreed to borrow and demanded a reform paper. It was clear in its demand that a paper be prepared to solve the current crisis instead of borrowing again, not as the white paper sent from the government that came to correct the economic path of the state went to him."
He continued, saying that "the white paper is not a law to be read and voted on inside the parliament, rather it is a government vision to correct the economic process and does not need comprehensive votes, but if it includes specific details, it needs legal legislation, and then comes the role of the Parliament," pointing to That "if the government wants to reduce salaries, for example, then it will need a parliamentary vote in order to amend laws in force.
Confirmed Cougar "The Finance Committee will study the white paper and include its vision with it, in addition to seeing the political blocs and returning it to the government. At that time, reform remains the responsibility of the executive body, while the parliamentary role is limited to monitoring, legislation, assisting the government and providing solutions to it, and it is the decision-maker with approval or rejection." link
Crileyhome: Iraq Cabinet APPROVES White Paper
Iraq Cabinet approves white paper
https://twitter.com/IraqiGovt/status/1316710664237449216
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Tishwash: AL-TAMIMI: PARLIAMENT IS READY TO SUPPORT THE GOVERNMENT IN REFORM
Baghdad-Al-Sharqiya October 15: A member of the Economic and Investment Committee, Riad Al-Tamimi, warned of the seriousness of what he described as the legal corruption represented by the currency sale window, which wastes millions of dollars annually.
Al-Tamimi told Al-Sharqiya News that the Iraqi parliament is ready to support the government in its efforts to reform and implement the terms of the white paper, stressing the need for the government to start serious steps towards ending corruption in state institutions. link
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Tishwash: Governor of the Central Bank: We have started implementing the terms of the reform paper for the banking sector
Central Bank Governor Mustafa Ghaleb al-Kuttab revealed that there are efforts to ensure domestic price stability.
In a statement, the authors emphasized that the future vision for the work of the Central Bank of Iraq is centered in light of the economic crisis through the goals it seeks to achieve and defined according to its law, which provides for ensuring the stability of domestic prices and promoting a stable financial system based on competition, to continue achieving the strategic goals set In a plan two thousand sixteen two thousand and twenty
He added that the bank recently proposed the terms of the reform paper for the banking sector, which has been initiated now, due to its importance in developing banking services and products in the next stage, indicating that this step comes within the framework of enhancing confidence in the banking sector and improving the quality of services provided to the public. link
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Courtesy of Dinar Guru
Bruce [via WiserNow] We know that from Iraq’s point of view they had some White Papers that were to be delivered...to the parliament with the rate of the Iraqi dinar in that paper work... So when we look at what is occurring – and where we are – we believe we are getting down to it...we understand is the President wanted this to go 6 weeks before the election...There’s definitely a “Hush” out there...more and more people are under NDA’s and are also under GAG Order...everything is good – everything is ready...everybody is in a situation right now of expectation for this to come through – don’t know what day – of course we’re hearing “this is our week”...don’t worry about the rates – they will be great...
KTFA:
Samson: Memoranda Of Understanding Signed Between Iraq And Greece
14th October, 2020
Foreign Minister Fuad Hussein announced the signing of memoranda of understanding between Iraq and Greece.
Hussein said in a press conference, today, Wednesday, that "Greece is an important country for Iraq and plays an important role in various fields."
Hussein added, "Greece helped Iraq in its war against ISIS and provided military support," indicating that it is an important partner for Iraq and has a wide experience in the field of alternative energy. LINK
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Samson: International Monetary: Global recession will be less than expected in 2020
18:10 - 10/13/2020
The International Monetary Fund improved its forecast for the performance of the global economy for 2020, and said that global GDP is expected to decline by 4.4% this year, but it will recover and grow by 5.2% in 2021.
This came in a report by the International Monetary Fund for the month of October on the prospects for the development of the global economy.
The IMF estimates that the global economy will shrink this year by 4.4%, 0.8% more than its estimate in June.
He added that the review was driven by better-than-expected growth in advanced economies and China during the second quarter of the year and signs of a faster recovery in the third quarter, and despite this, the Fund warned that the Coronavirus crisis is not over yet.
The fund expects that the global economy will recover next year and achieve a growth of 5.2%, and this level is lower than previous estimates that indicated a growth of 5.4%. LINK
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Craig Hemke - Unlimited, Endless, Infinite Amount of Dollar Creation
Greg Hunter: Oct 13, 2020
Financial writer and precious metals expert Craig Hemke is warning people about guaranteed massive money printing such as the country has never seen before. Hemke says, “Don’t get cute here. Don’t sit there and think gold is going to pull back to $1,800 (per ounce), so I am going to wait. No man, buy some today, and then if it pulls back, buy some more.
We are on this merry-go-round of madness that is not going to slow down. It’s just going to spin faster and faster, and your only protection, your only financial protection is to not save in their phony baloney fiat money, the dollar. Your protection is to save in sound money.
Money that cannot be devalued with the stroke of a pen is gold and silver. That’s what I advise. . . .This financial political complex is going to try to keep all of these plates spinning as long as they can. The only way they can do that going forward from 2020 on is an almost unlimited, endless, infinite amount of dollar creation. ”