News, Rumors and Opinions Wednesday 4-7-2021
TNT:
Wednesday UPDATE for April 7, 2021
A Shafq Newssource reported that President Saleh has ratified the 2021 Budget Law and returned it to the Ministry of Finance to start work on it for Thursday.
Tishwash: The President of the Republic approves the 2021 budget and returns it to the government to work on it from tomorrow
An informed political source said on Wednesday that the presidency has ratified the budget law and returned it to the government to work on it.
The source told Shafq News, that President Barham Saleh, today approved the federal budget for 2021, and was sent to the Ministry of Finance to start work on it from Thursday.
On Tuesday, Deputy Speaker of the House of Representatives Bashir Haddad announced that the Council had referred the Federal Budget Act of 2021 to the Presidency for approval.
According to a document signed by Deputy Secretary-General of the House of Representatives Sadiq Juma Hamid, addressed to the Office of the Presidency of the Republic, obtained by Shafq News, that "based on article 73, Section III, of the Constitution, we send you (Federal Budget Act 2021)." link
Tishwash: UPDATE 1-Indonesian rupiah is 'too cheap', headed higher on growth outlook - c.bank official
JAKARTA, April 6 (Reuters) - Indonesia’s rupiah currency is “too cheap” against the U.S. dollar and should strengthen on brightening prospects of the country’s economic recovery, a senior Indonesian central bank official said on Tuesday.
The rupiah, down about 3% versus the dollar in 2021 and at around 14,500 currently, was not reflective of its fundamentals and its weakness was attributable to a spillover effect of U.S. fiscal policies, Bank Indonesia’s deputy governor Dody Budi Waluyo told an online economic forum.
“It is our duty at BI to try stabilising the rupiah and steer it toward its fundamental value,” he said.
BI is projecting 4.3% to 5.3% growth in gross domestic product this year after the Southeast Asia’s biggest economy contracted 2.07% last year.
The central bank has vowed to keep its policy loose to support the economy. BI has cut interest rates by a cumulative 150 basis points and pumped more than $50 billion into the financial system to support the pandemic-hit economy.
Dody said while BI keeps it policies loose to support growth, the central bank will prevent any sharp movements in inflation and the rupiah exchange rate.
An expansive fiscal policy in the United States triggered a rise in its treasury yields and outflows from emerging markets such as Indonesia, he said.
BI will continue to monitor domestic economic conditions before it starts any tightening of loose liquidity measures and key interest rates, Dody said, adding that it will avoid any abrupt moves.
“We don’t want a premature exit before the economy is growing, which could cause a reversal,” he said, reiterating that BI will take its cue from the country’s inflation rate to decide on the timing of its policy normalisation.
(Reporting by Tabita Diela; Writing by Fransiska Nangoy; Editing by Martin Petty and Muralikumar Anantharaman) link
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Overnight Wednesday Fleming RV Report
Our military intel contact said the World Court has been still working out unexpected issues overnight with Kurdistan & Baghdad and DoD talked to Iraqi PM today Tue 6 April to get into the GOI Gazette overnight the newly passed HCL profit sharing agreement with adjusted IQD RV rate for UST to be able to declare value date for IQD and all currencies in order to start us;
It’s global and it’s complicated he said—it’s not as simple as some people assume.
His info matches Bruce’s saying be ready to be started once Iraq rate is in Gazette whether it can be seen or not by the West;
DoD needed this to comply with World Court requirements to start exchanges / payouts he said.
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Courtesy of Dinar Guru
Petra Guess who's coming to Iraq in a couple days? Barzani the head of Kurdistan...his deal is done. He got his 13.97% which is a lot more than I thought he was going to get...he's coming to town. Why would he be coming to town? It's not to negotiate some more for his contract. He's got it. It's signed. It's done...the timing...it makes a lot of sense.
Frank26 Only pay attention to the Prime Minister Kazemi. Only pay attention to the Central Bank Governor Mustafa...all the negativity you see out there in those article you have been well trained how to decipher it...I saw a post from someone today that said I saw that article today it was from parliament, yeah it was his opinion so I flushed it. I posted well done good student...that's how you get rid of these headaches. If you really want to be aware of what you're doing with this investment you have to be a good student...
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Emailed to Recaps
Holly: RV News: Since the weekend there are a lot of black outs on intel still. I am hearing some appointments are being made for later this week. The dam is ready to burst open. Iraq should have their new rate. That is what we are waiting on now. Once that is out the genie can not be put back on the bottle. We are on the cusp of this to go.
Iraqi Dinar update for 04/06/21
Pimpy’s Investment Chat: Apr 6, 2021