News, Rumors and Opinions Thursday PM 4-8-2021
KTFA:
Samson: With the approaching month of Ramadan ... National Security is spreading to Anbar to control the markets LINK
Ross: For years we have debated if they would RI/RV before or during Ramadan. This year would be a perfect time to increase the PP (purchasing price) of the dinar just before Ramadan. Since Ramadan starts next Monday, IMO this weekend would be a perfect time with the Budget in the Gazette for 3 days. Just do it for the citizens CBI.
MustangRoper: When does the budget get put into the gazette??
Zelmo: Saturday.
Ryan1216: Hey all. I believe it's now or never for the rate to be revealed since the budget is supposedly going to be posted in the Gazette Saturday. I just don't see them changing the rate again if the budget comes out at a program rate. I also feel that Iraq lied to everyone if the budget doesn't have a new rate in it. All IMO
GodLover: Well, lets put it this way. If the budget were to be posted in the Gazette at a PR....it would not be rational to think they will change it again the same year. They would then need to amend budget & then amend the Gazette publication, which is not even practical imo. If the budget opened at a PR, I will know Delta was correct. With that said....I am still VERY hopeful. Things still sound so good. Time will tell, the budget will reveal our true position...in just a matter of days.
Samson: The Monetary Fund expects growth in the global economy
17:32 - 04/08/2021
The International Monetary Fund has once again raised its forecast for global economic growth, forecasting a 6% recovery this year.
According to "Reuters", the International Monetary Fund (IMF) raised its forecast for global economic growth by 6% this year, thanks to the unprecedented monetary and financial measures that are still in place in the face of the Corona virus epidemic.
Three months ago, the fund had expected a 5.5% increase in economic activity in 2021. But the Fund returned and confirmed the continued high degree of uncertainty, explaining that "further progress in immunization may lead to higher expectations as new variants of resistance to vaccines may lead to a review of the recession." He noted that it is clear that the future of monetary and fiscal policies is another major factor in uncertainty, especially in the United States.
Experts believe that the improvement in public expectations is mainly attributed to the United States, where growth could reach 6.4% this year, which is unprecedented since the early 1980s. These new forecasts for the US economy have been raised by 1.3 percentage points since January and almost twice the forecast for October. For the global economy, 6% growth over the year would be the best performance recorded since 1976, but would follow a 3.3% decline in 2020, the worst contraction since World War II.
The updated World Economic Outlook report from the International Monetary Fund, which was presented at the opening of the Spring Meetings of the Fund and the World Bank, reflects a very marked divergence in the paths of recovery between the United States and the rest of the world, which is explained by the impact of the Biden administration’s $ 1.900 billion stimulus plan. The outlook appears less exciting for other large advanced economies, such as Japan, which is expected to grow 3.3% this year, Germany, which is taken by the forecast by 3.6%, or France at 5.8%, which are countries that the International Monetary Fund raised its forecast slightly.
For all advanced economies, it is now forecasting growth of 5.1% versus 4.3% in January, and for emerging countries the increase in expectations is as important as the +0.4 halving point, even if the growth forecast is higher, at 6.7%.
Regarding the reasons for this, the IMF report states that "multi-speed recovery processes are taking place in all regions and at all income groups, depending on sharp differences in the frequency of vaccine deployment, the extent of general support for the economy and structural factors such as dependence on tourism."
View her forecast. The United States and China are expected to achieve a higher level of GDP this year than they did before the outbreak of the crisis just over a year ago. LINK
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Courtesy of Dinar Guru https://www.dinarguru.com/
Frank26 Allawi Video quote: "We started with reforms, we started the process of automation, reform processes related to the currency and the exchange rate, and these are all measures aimed at straightening the Iraqi economy." ...amen, glory hallelujah, praise God! ...this is it right here.
Frank26 Never in the history of Iraq have we ever seen a budget approved signed sealed and delivered and implemented. Never. The dictatorships of Iraq have always stolen the money. Not only from the government but from the CBI auctions...what does the budget have to do with the monetary reform? A lot. The exchange rate is it. The HCL is in there...
Pimpy Article: "The president of the Republic approves the 2021 budget and returns it to the government to implement it, starting tomorrow" Yay finally it's been ratified. No rate change was in there unfortunately. We'd love to see one...congrats the budget is done...this is great. This is what we want to see...these are big steps in the right direction...
TNT:
Tishwash: Gunmen hold a family inside a house and steal 300 million dinars and gold jewelry
Today, Thursday (April 08, 2021), a security source reported that unknown gunmen detained a family inside a house, .along with the theft of 300 million dinars and gold jewelry, east of Baghdad
In an interview with (Baghdad Today), the source said, "Three unknown and armed people robbed one of the houses ".on Palestine Street, by entering the house, and detaining the owners of the house inside it ".
He explained, "The gunmen stole an amount of 300 million Iraqi dinars, and gold jewelry, to flee afterwards Baghdad and some Iraqi governorates are witnessing incidents of theft in some homes.
The security forces arrest most .of the perpetrators, some of them within record time link
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Tishwash:25 BILLION IRAQI DINARS ALLOCATED FOR ARTICLE 140 COMPENSATION IN BUDGET: OFFICIAL
SULAIMANI — Head of the Article 140 office in Wasit and Diyala governorates Adnan Masnur on Tuesday (April 6) told the Kurdistan Democratic Party’s (KDP) official media outlet that the federal government has allocated 25 billion Iraqi dinars ($17.2 million) in compensation for people historically displaced by the Arabization campaign as a part of the new 2021 Federal Budget Law.
Article 140 of the Iraqi Constitution of 2005 outlines how to settle the issue of the so-called disputed areas, a belt of territory stretching across several governorates from Nineveh through Saladin and Kirkuk into Diyala and northern Wasit that is claimed by both the Kurdistan Regional Government (KRG) and the federal government, but has never been fully implemented.
The article is based on Article 58 of the Transitional Administrative Law, which provides for “just compensation” of people who were displaced by the Ba’athist regimes Arabization campaign in the 1970s and 1980s, which replaced Kurds, Turkmens, and members of other ethnic groups living in the disputed areas with Arabs.
Some money has been disbursed, but the majority of historically displaced residents have not been compensated yet.
Mansur said that $750 million had been allocated in past years, but that the amount available steadily dropped over time, particularly following the events of October 2017 when the federal government took control of large swathes of territory that had been held by the KRG in the aftermath of the Kurdistan Region’s independence referendum. In the 2019 budget, the compensation fund dropped to 15 billion Iraqi dinars ($10.3 million).
Welcoming the additional funding in the new budget, Mansur called it “a good step” that would keep “Article 140 alive.”
“The disputed areas are now ready for the Iraqi government to begin implementing Article 140, as it is…a constitutional article and should be implemented,” he said. link