TNT:

Weekend UPDATE for JUne 19-20, 2021

Several bank sources are expecting to see LIVE rates on Sunday evening when the Forex market opens at 5:00 PM, Eastern.  Top level personnel are told to start "checking" their systems starting Sunday afternoon in preparation of strategic conference calls.They are planning on being extremely BUSY next week.

Reportedly, the system was open on Friday evening, but the Treasury was awaiting "exchange orders" to commence but that has not been the case as of yet.

The anticipated rates are as follows:

Dinar range is $3.70 to $3.95

Dong range is .42¢ to .62¢

Rupiah range is $1.32 to $1.42

Rial range is $3.67 to $3.80

Afghani is $2.39

US Banks still expect to exchange Zim at .00000011 to .00000033 even though the committee" contends that only Zim printed 2016 and later will be processed. TIME WILL DEFINITELY TELL!!

Tishwash:  Directive from the Governor of the Central Bank regarding banks and non-bank financial institutions

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, called, on Sunday, to overcome the difficulties faced by banks and non-bank financial institutions in the development path.  

 A statement of the bank, a copy of which was received by “Nass”, stated, (20 June 2021), that “the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, conducted an inspection tour of the two branches of the Central Bank of Iraq in Mosul and Erbil.”  

He added, "The governor was briefed on the progress of work in them and the level of services provided to the banking sector."  

He continued, "He praised the efforts of the employees and stressed the redoubling of efforts in the two branches, which reflects the role of the Central Bank and its branches in advancing the banking sector and overcoming any difficulties that may hinder the contribution of banks and non-bank financial institutions to the desired development process.  link

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Tishwash:   Another version

The Governor of the Central Bank stresses the redoubling of efforts to develop the banking business

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhief, stressed on Sunday, to redouble efforts in its branches to contribute to the development of the work of banks and financial institutions.

In a statement received by Shafaq News Agency, the bank's media office stated that the governor of the bank conducted an inspection tour of the two branches of the Central Bank of Iraq in Mosul and Erbil, and was briefed on the progress of work in them and the level of services provided to the banking sector.

Makheif stressed the redoubling of efforts in the two branches, which reflects the role of the Central Bank and its branches in promoting the banking sector and overcoming any difficulties that may hinder the contribution of banks and non-bank financial institutions to the desired development process.

And the Governor of the Central Bank, Mustafa Ghaleb Makheef, had arrived yesterday, Saturday, to the Kurdistan Region and met the Prime Minister of the Regional Government, Masrour Barzani.

A statement issued by the Kurdistan Regional Government, received by Shafaq News Agency, said that during the meeting, they discussed ways to enhance coordination and cooperation between the Kurdistan Region and the Federal Government in the field of reorganizing the banking sector and combating the financing of terrorism and money laundering.

The Governor of the Central Bank stressed that the Central Bank deals with its branch in the Kurdistan Region, which is located in Erbil, as the official concerned authority in supervising banking affairs in the region.

The Prime Minister reiterated his readiness to cooperate and coordinate with the Central Bank of Iraq, and stressed that reorganizing the banking system would constitute a strong and important pillar for developing the economic infrastructure, consolidating the investment process, and gaining the confidence of international banks and financial institutions.   link

Tishwash:  Deputy: Parliament is suspended and is no longer representative of the people

On Sunday, the independent deputy, Basem Khashan, deplored the parliamentary confusion by not holding parliament sessions and by not attending the sessions, pointing out that the parliament is no longer a representative of the people.

Khashan said in a statement to "Al-Maalouma", that "Parliament has become almost dysfunctional due to the deputies' lack of seriousness in attending and performing the legislative duty, as well as their view of the insignificance of the work they are doing."

He added that "there are some events that prevent parliament sessions from being held and the deputies fail to attend, but there are deputies who did not attend in the first place, whether there was an event or not."

Khashan explained, "The Council of Representatives is no longer representative of the Iraqi people, and procedures for the parliament's internal system should be taken against absent deputies and the application of the law to replace deputies with members who abstained from attending."   link

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Tishwash:  Mazhar Saleh: Al-Kazemi's government succeeded in managing the financial file and debts of about $75 billion

Adviser to the Prime Minister Mazhar Muhammad Salih said, on Sunday, June 20, 2021, that despite the severity of the economic and financial difficulties that afflicted the country, the government of Prime Minister Mustafa Al-Kazemi was able, within a year of its life, to manage the financial and economic file well, .noting that the issue of debts Iraq is very complex, being divided between external and internal debts

Saleh told Al-Masala: The health crisis as a result of Corona, the closure of the local economy, the disruption of many private sector activities, and the financial crisis caused .the actual current government expenditures to lose more than 60% of their revenues in 2020 compared to 2019

And he went on: The House of Representatives agreed that the government would expand the base of domestic borrowing to finance the deficit in actual current spending, .by about 25 trillion

He added that the government was able to manage the epidemiological file with all the available health capabilities to protect public health tirelessly day and night, in .addition to its ability to prepare and pass the federal general budget law for the year 2021 in cooperation with the legislative authority

He resumed saying that a successful exit from the bottleneck in the health and financial double crisis for the year 2020-2021 is with the recovery of oil markets and the .restoration of the general budget to reassuring cash flows .

The economic advisor said that the internal debts amount to 50 billion dollars, and the remaining external debts that are due for payment do not exceed 23 billion dollars

He added that some of the foreign debt is a remnant of rescheduling the debts of the Paris Club Agreement, and the other was created to finance arming and equipping .the armed forces

He pointed out that the outstanding debts of 8 countries, including Iran, Saudi Arabia, Qatar, the Emirates and Kuwait, amounting to 40 billion dollars, and these countries .have not yet written off their debts, although they are subject to the Paris Club   link

Mot:  ~~~ Thanx Dad for the Memories I Wish I Could forget!!! ~~~