"Tidbits From TNT" Saturday 11-20-2021

Nov 20

TNT:

Thursday/Friday morning UPDATE for November 18-19, 2021

Thursday :

The Committee Guy collaborated with the information we shared on Wednesday also indicating that the "target date" was earlier this week.

A bank source called, said they are moving their staff in place and looking forward to an exciting weekend! They also stated that they are being "told" that the Zim will be accepted with NO LIMIT on the amount to be exchanged. Definite confirmations are expected later.

Friday morning:

Dinar sales have stopped at all currency exchange locations at the United Arabic Emirates International Airport in the Middle East!

Tishwash: The Iraq Economic Contact Group of the Group of Seven, the European Union and the World Bank issues a statement on elections and economic reform

The members of the Iraq Economic Contact Group expressed their satisfaction with the continuation of the dialogue with the Government of Iraq, and congratulated it, along with the Iraqi people, on the parliamentary elections that took place on October 10, 2021.

It stated in a statement: The reports of the independent observers encourage the members of the Iraq Economic Contact Group, which It states that the electoral process has witnessed a remarkable technical and procedural improvement compared to the previous elections in Iraq.

The Iraq Economic Liaison Group called on all parties to resolve any disputes related to the elections that may arise peacefully through the existing legal channels.

The group hopes for the rapid formation of a government that maintains the priority of economic reform, and addresses the structural challenges facing Iraq.

And she added that despite the current recovery in oil prices, which provides the Iraqi state and its economy with more revenue, the heavy dependence on oil exports is not sustainable in the long term, with the decline in global demand for hydrocarbons.

She indicated that economic reform, as stated in the government's white paper, is required to ensure diversified and inclusive growth, create sustainable job opportunities for the growing youth group, enable the private sector to thrive and serve the economy, and ensure macroeconomic and financial sustainability in response to external shocks.

She noted that these basic reforms should be implemented along with policies in the interest of human capital development, mitigating and adapting to climate change, and providing basic services.

The group calls on the leaders of Iraq and the next government to give priority to reforms and to ensure that the reform process is implemented quickly.

And she stressed the continuation of the white paper on the Iraqi government as an important tool in continuing to achieve those reform goals.

The Iraq Economic Contact Group reiterated its commitment to support the Iraqi government in its reform efforts, and is ready to continue its current support.

It is noteworthy that the Iraqi Economic Contact Group, launched by the Group of Seven, the European Union and the World Bank on October 22, 2020 in London, is an international alliance that supports the efforts of the Government of Iraq to advance the implementation of pivotal economic reforms. link

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Mot: The stability of oil prices in global markets after a day of severe fluctuations

Oil prices stabilized today, Friday, after a day of extreme fluctuations, raised by the specter of a coordinated move by the major world economies to withdraw from their strategic stocks of crude.

Brent crude futures rose 28 cents, or 0.3 percent, to $ 81.52 a barrel by 0145 GMT, after falling to their lowest level in six weeks on Thursday, before turning the course and closing 1.2 percent higher.

The futures contracts for West Texas Intermediate crude were not less fortunate than the previous one, as it also rose 19 cents to 79.20 dollars a barrel, after it fluctuated in a range of more than two dollars before closing higher. The two crudes are heading to a fourth week of decline.
The market volatility came in the wake of a Reuters report that the United States asked China, Japan and other major buyers to join the withdrawal from the strategic reserves of oil.

“The market remains very tight (in supplies) and any volumes drawn are unlikely to significantly alter the global balance,” commodity analysts at Fitch Solutions said in a note. As such, we expect any price declines to be limited in scope. and duration.”

The Biden administration's pressure for a coordinated withdrawal from oil stocks is seen as a signal to the "OPEC +" grouping of the need to increase production to address fears of rising fuel prices in the world's largest economies, starting with the United States, China and Japan.
And "OPEC +", which includes the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, has maintained what analysts say are unprecedented limits on production, even as prices rebounded from their sharp decline during the early stages of the Corona virus pandemic.

On the other hand, data showing that Saudi oil exports hit an eight-month high in September, the fifth consecutive month of rise, helped keep prices in check. link