Zig’s Place Chat Room Discussion and News Friday PM 12-4-20

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here.

Xyz   Parliament refused to pass a new borrowing in the budget for next year - urgent

12/04/2020 14:43   Baghdad today – Baghdad  Today, Friday, a member of the Parliamentary Economic Committee, Mahmoud Al-Zagrawi, confirmed that borrowing was not accepted in the 2021 budget, while noting that the Iraqi economy could not bear it.

Al-Zajrawi said in an interview with (Baghdad Today) that "Iraq has been living for 6 months on frequent borrowing to finance the disbursement of salaries and the rest of other expenses, and this matter created a very high debt with very bad economic dimensions and devoured a large part of the country's reserves of hard currencies."

He added, "The approval of the 2021 budget is very important for economic stability, but it must be studied extensively and discussed before voting on it, stressing the rejection of any attempt to borrow in the budget under any circumstances because the country's economy does not tolerate more borrowing and the government must have other alternatives away from the borrowing that is It has negative multi-faceted dimensions."

Yesterday, Thursday, a member of the Parliamentary Finance Committee, Jamal Cougar, suggested that the 2021 budget, which is in the process of being prepared by the Ministry of Finance, will be a brief austerity budget based on real data.

He said cougars in a press statement, said that "according to the current year 's data, the government spent in accordance with the system operational budget 1 / 12 about 52 trillion dinars."

Last Monday, Prime Minister Mustafa Al-Kazemi directed to send the 2021 budget to the General Secretariat of the Council of Ministers immediately for the purpose of checking it.

https://baghdadtoday.news/news/139065/%D8%B1%D9%81%D8%B6-%D9%86%D9%8A%D8%A7%D8%A8%D9%8A-%D9%84%D8%AA%D9%85%D8%B1%D9%8A%D8%B1-%D8%A7%D9%82%D8%AA%D8%B1%D8%A7%D8%B6-

xyz   Punitive, the budget is likely to arrive in Parliament next week

09:59 - 12/04/2020  The information / special  between the representative of the National Approach bloc, Hussein Al-Oqabi, said that the 2021 budget may reach parliament next week, pointing out that the parliament needs approximately two months to settle the budget before voting on it.

"The government was late in sending the budget, and this is negative in the performance of the government, as it must arrive in Parliament on October 15, according to the Financial Management Law," Al-Uqabi said.

He added, "Parliament needs nearly two months to discuss and amend the budget, conduct transfers to it, study it, and delay it today is a negative factor."

He explained that "the estimates indicate that the budget will reach Parliament next week for discussion, completion, and then voting." 25 n https://www.almaalomah.com/2020/12/04/508342/

Zig   Thank You Appreciate you posting news here...

4 Dec 20, 09:56 AM Zig   :P ....Anyway, I will never "unlock" this room again....so you will need an "Invitation" to become a member and to be able to post here....I unlocked it yesterday to find something out....I did...sorry but that is the way it will be....so hopefully our current members will invite some more people....and if you know someone here you could always contact her/him and ask for an invite.... :) .... :Nice day:

Dave  Zig Are you familiar with Qanon.? Now being Praised? what name would delegate to its followers........Real Patriots?

Zig  Dave : :N comment: LOL....Ask the expert about those things, Madame @Z :Banana:

NORV  :Pool: float

Zig  NORV : What do you think of this??

Zig  An economist calls for deleting the three zeros from the dinar to strengthen the local currency

Twig said: It is known that the monetary mass in circulation is about 60 trillion dinars, which is not available at the Central Bank of Iraq, the banks and the public, and it is a large monetary block compared to the economic transactions of the Iraqi economy and that a large proportion of this block suffers from compactness and therefore this does not help the Central Bank of Iraq in drawing a policy Effective cash calling on the central bank to delete three zeros or gradual deletion of zeros to make the value of the dinar appear at a higher value and that the processes of evaluation and monetary balance will be formed quickly in the market economy.

" He added: The monetary mass can become approximately 15 to 25 trillion dinars and the value of the new dinar converges to the value of the dollar , which facilitates the process of calculation and allows small and new denominations of cash to appear in the money market. LINK

Zig  Jeez @Kap Poof and you're gone....LOL....Please comment on above article....

Dave  Zig thought CBI commented on this and stated Not yet ready,....from a few days ago?

Dave  project delete 3 zeros live and well and also did mention free float vs managed float

Dave  WTO accession looming.....?

Dave  Chatter about Naval /ocean laws recently.......port dispute/kuwait near an end......?

Dave  to hear something on these issues all in 1 week..........

Dave  Iraqi Govt employees now required to actually open up bank accounts to get paid ?

Dave  talk of WTO.........have not heard a peep about that for 10 yrs

Dave  Al-Kinani supports the Central Bank’s initiative and calls for cooperation to make it succeed

December 1, 2020 Walter  Economy News _ Baghdad

The head of the Parliamentary Economic and Investment Committee, MP Ahmed Salim Al-Kinani, suggested, on Tuesday, that the Central Bank of Iraq initiative regarding lending to housing, service, industrial and agricultural projects will contribute to moving the Iraqi market and directing it in a way that contributes to increasing local investments.

Al-Kinani said in a statement that “Al-Eqtisad News” received a copy of it, that “the Central Bank launched its initiative in exceptional and complex economic conditions, as well as identified banks and exchange mechanisms through which those loans are granted to the covered surprises,” indicating that “the loan granting mechanisms must be accompanied by a monitoring mechanism.” Effective, clear, and unambiguous and unambiguous in spending those money by borrowers for projects that can benefit the national economy and citizens alike. ”

The head of the Economic and Investment Committee added, “This initiative should be kept away from speculators in public money who claim to be businessmen and investors, since there are previous experiences in this field that have led to a great waste of public money and its exploitation by beneficiaries whose only concern is to make profit at the expense of developing the Iraqi economy.” And make it more effective in facing economic crises. ”

Al-Kinani stressed, “his committee, on its part, will play its supervisory role to ensure the success of this initiative and guide it properly, calling on the central bank to cooperate and inform the committee of the details of the initiative as the committee has several proposals and can contribute to evaluating this initiative and its monitoring mechanisms.”

https://economy-news.net/content.php?id=22964

Dave  had to read that twice.....more questions than answers fer me

Zig: Refferals Will now be the only way we acquire new members...Only registered members who have been "activated" will have access and be able to post...If you would like to refer someone simply ask him/her to register, and make sure you know the username being registered...

Then simply address me in chat, writing that you have a referral, but please don't post the username...Once I see that someone new has registered I will ask you if that is your referral, then will activate them, etc....If you know someone here and wish to be an active member, I suggest that you contact him/her and ask to be referred...... :coffee: ......All Referrals are thoroughly vetted

Zig   The Chat Room will remain this way....I will no longer unlock it from time to time so anyone may post as a guest, etc....This way works best for me for various reasons...I do hope our current members refer others....if you would like to be a member here and recognize someone here, just contact them for a referral...

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