Tuesday Night KTFA CC with Frank and Delta and some news 11-24-2020

KTFA:

KTFA CC with Frank and Delta 11-24-2020

Frank26:  11-24-20.....TALKING WITH DELTA

This is all in Frank and Delta’s opinion.

Changing the rates with change Iraq and change the world.

Pay attention to the Erbil and Iraqi stock exchange.

Just be patient….when you see the shoreline- you don’t jump out of the boat to swim to shore…..you wait until the boat is docked.

https://www.youtube.com/watch?v=o6g0xBUJxCs&feature=youtu.be

DELTA:  THIS WAS SEND TO ME....THANK YOU FOR THE SENDER 

AL-ARRAJI DEMANDS CBI TO ADOPT A REAL RATE FOR IRAQI DINAR

 24-11-2020

Al-Mustaqilla .. MP Muhammad Sahib Al-Darraji called on the Central Bank to adopt the real price of the Iraqi dinar, away from the prices offered in the currency auction.

Al-Darraji said in a tweet on his Twitter page, Tuesday, "The central bank must adopt a real price for the dinar, away from breaches of the window of selling the notorious currency."
He also called for "disclosing bills and documentary credits provided by banks in exchange for transferring hard currency abroad and checking its credibility."

Al-Darraji stressed that the bank’s failure to do so is that it “is considered an accomplice in the crime and we will have to resort to legal methods to remedy this defect.”

The window of selling the currency in the central bank faces many criticisms, while leaks stated that a number of banks acquire the amounts that are being traded in the currency auction for the purpose of increasing their profits. Link

 **********

Samson:  Iraq is waiting for two billion dollars in advance payments from countries wanting its oil

In a first step to implement his plan, Iraq demanded $ 2 billion in advance of the value of its oil exports as part of long-term oil sales contracts

The agency "Bloomberg", that Iraq suffers from a severe financial crisis as a result of the decline in global oil prices and its forced to reduce production in the framework of the agreement of the countries of OPEC Plus grouping to support these prices

According to a letter sent by the Iraqi government to oil companies and seen by "Bloomberg," the government seeks to obtain advance payments from the value of oil sales in exchange for 5-year supply contracts at a rate of 4 million barrels per month, equivalent to 130,000 barrels per day. The buyer will pay for the supplies a full year in advance, which at current prices equates to just over $ 2 billion

The letter, described as confidential, says that the Iraqi Oil Marketing Company, on behalf of the Ministry of Oil, is interested in proposing long-term crude supply contracts in exchange for advance payments. Companies interested in the offer can send their response by November 27

According to the agency, many oil-producing countries depend on advance payments to meet their financial needs, but it is the first time that Iraq has resorted to this method  LINK

*************

Samson:  The Central Bank holds a meeting with the Bank for International Settlements (BIS)

24th November, 2020  Appearing on CBI today

The Central Bank of Iraq held a remote meeting with the Bank for International Settlements (BIS) to discuss prospects for joint cooperation and investment mechanisms between the two parties.

The two parties agreed on the contribution of the Bank for International Settlements to enhance the capabilities of the Central Bank of Iraq and increase investment opportunities in foreign reserves.

The Bank for International Settlements is an international institution that provides services to central banks that seek to enhance global monetary and financial stability,

And that through its activities in achieving a balance of the priorities of strategic importance for central banks in managing reserves,

 And ensuring a good understanding of liquidity management and diversification in order to obtain good returns to meet their needs,

 As well as providing credit brokerage services, gold, foreign exchange and asset management, including an integrated management function

 For financial and operational risks and properly control them.

The Central Bank of Iraq  information Office

November 21, 2020  link

Samson:  Cabinet: Next week’s session will discuss the 2021 budget

24th November, 2020

The Minister of Culture, Hassan Nazim, announced the decisions of the Council of Ministers in a press conference, which included a number of economic decisions

Nazem said, in the conference attended by "Al-Eqtisad News", that the Council of Ministers voted to implement the road linking the port of Al-Faw and Umm Qasr

He added that the government has continuous meetings in order to address the errors in the second borrowing law, explaining that the Council of Ministers has recommended the need to enter Iraq with financial obligations with other companies producing the Corona vaccine to ensure coverage of groups other than the 20%

He stressed that the Council of Ministers voted not to appoint anyone who is proven to have committed bribery and embezzlement at the level of Director General and higher.  He noted that the next cabinet session will discuss the draft budget for next year  LINK

*************

Samson:  Al-Kazemi government discloses the date for approving the 2021 budget

The government of Iraqi Prime Minister Mustafa Al-Kazemi announced today, Tuesday, the date for approving the country's general budget for the next year 2021.

The spokesman for the Council of Ministers, Minister of Culture, Hassan Nazim, said in a press conference held today, after the end of the cabinet session, and was attended by Shafaq News Agency, that "in the absence of a general budget for the country, it is not possible to declare sending funds to the Kurdistan Region."

He responded to a question regarding previous statements by Ahmed Mulla Talal, the prime minister's spokesman.

The Minister of Culture stated that "the Cabinet has allocated the next session to approve the General Budget Law for 2021."

A source in the Ministry of Finance told Shafaq News Agency earlier that the ministry will complete the preparation of the draft general budget bill for 2021 and present it to the cabinet next week. He added that "the Council of Ministers will discuss and approve the draft budget during its regular session (Tuesday) or in a special session, after which it sends it to the House of Representatives for a vote on it." The source revealed that "the price of a barrel of oil specified in the draft budget ranges between 35-40 dollars."

Iraq relies on oil sales revenues to finance 95 percent of state expenditures. The country is experiencing a stifling financial crisis this year due to the decline in crude prices on global markets due to the Corona pandemic. Iraq did not approve a financial budget for the current year due to the circumstances that accompanied the unprecedented popular protests that toppled the government of Adel Abdul Mahdi late last year.  LINK

Bravo13:  "the cabinet has allocated the next session to approve the general budget law for 2021". Frank said the rate is in the 2021 budget, this could be it, next tuesday, looking better and better, IMO

************

Samson:  Kurdistan opens the doors for investors and reveals its future plans

23rd November, 2020

The Prime Minister of Kurdistan Regional Government, Masrour Barzani announced, on Monday, that the region’s doors will be opened to American and other investment companies and that they will overcome obstacles to enter the region’s market, stressing his government's endeavor to improve services and various sectors, especially electricity service, to provide the population with energy throughout the day.

Barzani said at the opening of a Kurdistan-American conference to encourage investment in the region for the post-Corona virus period, sponsored by the American Chamber of Commerce and Industry through "video conference" technology, and Shafaq News Agency followed it up, that "the regional government has provided great facilities for investing companies to enter the region, and we encourage companies. American investment in the region. " He added that "the increase in investment projects provides job opportunities," noting that "the Kurdistan region is the most secure region of Iraq and the region, and a suitable environment for attracting American and foreign companies."

Barzani added, "The investment of American companies in the region is in the interest of the Kurdish people, and we seek to further strengthen relations between Erbil and Washington." "My government is also working to reduce red tape to ensure investors can complete necessary procedures faster and easier - from company registration to visa and permit regulations -" he said.

Barzani added, "We are working hard to diversify our economy, by privatizing parts of the agricultural and electricity sectors. It is possible that the Kurdistan Region will become Iraq's food basket." He added that "the Kurdistan Region wants to achieve self-sufficiency mainly, and hopes to export its local products to the countries of the region and all over the world," noting the endeavor to provide electricity service in the region throughout the day.

The conference activities will last for two days with the participation of high-ranking officials from America and the Kurdistan Region and American companies investing in the region.

The head of the Investment Commission in the Kurdistan Region, Muhammad Shukri, said yesterday, Sunday, to Shafaq News, that the Commission will present its vision for investment and investment areas for the period after the Corona virus, indicating that the conference will address the amendments that are to be made to the investment law and investment opportunities in the region. He stressed that the Kurdistan Investment Authority, "will provide a clear vision of the investment climate in the region for American companies that want to invest in Kurdistan."  LINK