Zig’s Place Chatroom News Friday AM 8-27-21

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

Butterfly   https://ninanews.com/Website/News/Details?key=923586   ...................  Finance Minister: The process of changing the dollar exchange rate contributed to the reform of the economic system / expanded ... He said, "The 2022 budget will be presented within 3 weeks to the Council of Ministers."

Butterfly   https://ninanews.com/Website/News/Details?key=923794 ................... Agency / NINA / publishes the text of Al-Sadr's speech in the presence of all the Sadrist movement's candidates in the upcoming elections./Expanded

butterfly   Iraqi Finance Minister "Supports Floating Exchange Rate" for Dinar ................ https://www.iraq-businessnews.com/2021/08/27/iraqi-finance-minister-supports-floating-exchange-rate-for-dinar/   ..........................   Iraq's Deputy Prime Minister and Finance Minister has reportedly said that he supports a floating exchange rate for the Iraqi currency, the dinar.

Shafaq quotes Ali Allawi (pictured) as telling a press conference on Thursday that the Central Bank of Iraq (CBI) intervenes occasionally to keep the dinar in the range of plus or minus 5 percent, adding:

"The exchange rate is not sacred as it was before. Fixing the rate leads to the accumulation of economic problems and explosion later."    (Source: Shafaq)

butterfly   https://shafaq.com/en/Economy/Iraq-s-Minister-of-Finance-supports-floating-exchange-rate ..................    Iraq's Minister of Finance supports floating exchange rate............................ Shafaq News/ Iraq's Minister of Finance, Ali Abdul Amir Allawi, said on Thursday that he supports adopting the floating exchange rate policy in Iraq.

"The Iraqi currency is fluctuating, but the Central Bank intervenes from time to time to keep it in the range of plus or minus 5%," Allawi said in a press conference on Thursday.

"The exchange rate is not sacred as it was before. Fixing the rate leads to the accumulation of economic problems and explosion later."

"The Central bank's policy is to maintain this rate and keep the gap between the official price and the market at a tolerable range," he noted, "fixing the exchange rate is vital except in the case of economic indicators that push you towards change."

A floating currency is a monetary system that is not backed by gold or assets and tends to fluctuate in value due to supply and market expectations. Its value is also determined by global demand and the level of foreign reserves.

butterfly  There ya go...........good news..............bad news, we wait and see.

butterfly   https://shafaq.com/en/Economy/Iraq-does-not-need-IMF-loans-Minister-Allawi-says     .............  Iraq does not need IMF loans, Minister Allawi says ..............  Shafaq News/ Iraq does not need funding from the International Monetary Fund(IMF), Minister of Finance Ali Allawi said on Thursday, deeming the relation with the fund as "every good".

In a press conference held earlier today in the Ministry's headquarters, Allawi said, "at the moment, we do not need loans from the IMF. Earlier, we needed four billion for financial reform after the improvement of the financial situation."

"Fund can be obtained from the IMF via several routes: the first is Coronavirus, but we did not need it. The second is the financial reform funds, which we needed. The third is sought to cover massive financial deficits, but we did not need it as well."

UNEEK   And a little more news ......... The Minister of Finance talks about the process of changing the exchange rate of the dollar

Thursday, 08-26-2021, PM 2:51 Karar Al Asadi 2271  Today, Thursday, Finance Minister Ali Allawi announced that the process of changing the exchange rate was not easy, and while he indicated that Iraq came out of the difficult economic situation safely, he revealed the reasons for the delay in paying salaries.

Allawi said in an interview with a number of media outlets, "Iraq's financial policy during a year and a half went through five exceptional circumstances," noting that "entering at the beginning of the government's work, there was no financial safety valve."

He pointed out that "the Iraqi economy has changed since 2019 and the obligations of the previous government, and the Corona crisis led to the collapse of oil prices and increased unemployment," noting that "the government's policy worked to control expenditures and thus reflected on state revenues."

He added, "The process of changing the exchange rate was not easy, but the fiscal and monetary policy is reformist and it must be continued.

The reform process is correct and started with banks and customs," stressing that "the fiscal policy aims to balance oil and maximize other resources."

He pointed out that "the process of changing the dollar exchange rate should have taken place years ago, which reflects something beneficial to reform the economic system, as it is not possible to create an incubating environment for a private economy without the government's ability to change the distortion of public finance."

And he indicated, "The exchange rate reflects many issues and its rise is beneficial for some economic sectors," noting that "the process of changing the exchange rate was wanted to create a competitive atmosphere in Iraq, especially since today there is a balance between demand for currency and supply."

UNEEK   You can read the remaining text / info here: https://non14.net/139487

UNEEK   Iraq: AL-KAZEMI PROMISES TO PRESENT THE REFORM PAPER TO THE POLITICAL FORCES TO BECOME A COVENANT AND A NATIONAL CHARTER

Friday, August 27, 2021 1:19 PM Baghdad / National News Center

Today, Friday, Prime Minister Mustafa Al-Kazemi promised to present the reform paper to the political forces, so that it would become a national pledge and charter.

Al-Kazemi said in a tweet to him on the Twitter platform: "I was impressed by the proposals presented by the National Dialogue Conference in Baghdad, which included social, professional, cultural and youth figures from all provinces and the reform paper that they voted on." 

He added, "I promised to draw inspiration from the contents of this paper and submit it to the political forces to become a national pledge and pact that provides an atmosphere of confidence to contest the elections." https://nnciraq.com/82633/

butterfly   UNEEK    :Fingerscrossed:

butterfly   present the reform paper to the political forces, so that it would become a national pledge and charter.

butterfly   https://ninanews.com/Website/News/Details?key=923830 ..........  Asaad Al-Abadi: The decision to return the Sadrist movement to the elections came as a result of a reform paper for all political blocs

butterfly   The political representative of the Sadrist movement in Basra, MP Asaad al-Abadi, affirmed that  "the decision to return the Sadrist movement to the elections, which was launched by Mr. Muqtada al-Tadr, came as a result of a reform paper for all political blocs.

He said in a press statement that al-Sadr crossed through the reform paper for those who trust him and those who trust him." He works with him to make the reform project a success, pointing out that the million-strong crowd and the base that believes in what the reform leader, Mr. Al-Sadr decides, are all factors of the Sadrist bloc’s success, advancing the reform project, establishing the rule of law and providing a decent life for the Iraqi people.

Al-Abadi added, “We all have high confidence in Mr. Al-Sadr and in everything he proposes from Before him and the steps he takes are in the interest of the people.

The leader of the Sadrist movement, Muqtada al-Sadr, announced today, Friday, participation in the upcoming elections.

Al-Sadr called on his followers to stand by a million people to participate in the elections to prove that they are the largest bloc, provided that they adhere to the election project.

butterfly   Sorry for the long post but it is getting exciting..............

butterfly   https://ninanews.com/Website/News/Details?key=923836 ...............

The UN Security Council condemns the disgraceful acts against civilians at Kabul airport

butterfly   https://ninanews.com/Website/News/Details?Key=923834 ...................

US military plans to target ISIS in Afghanistan

butterfly   https://shafaq.com/en/Economy/Gold-pauses-retreat-as-investors-lock-in-on-Fed-s-Jackson-Hole-event .......................... Gold pauses retreat as investors lock in on Fed's Jackson Hole event ............................. Bullion slipped as much as 1.2% and below the key $1,800 mark on Wednesday as a stronger dollar dented its appeal.

butterfly   https://shafaq.com/en/Economy/Oil-jumps-as-storm-approaches-Gulf-of-Mexico-production-hub ........... Oil jumps as storm approaches Gulf of Mexico production hub................... "Energy traders are pushing crude prices higher in anticipation of disruptions in output in the Gulf of Mexico and on growing expectations OPEC+ might resist raising output given the recent Delta variant impact over crude demand," Edward Moya, senior market analyst at OANDA told Reuters.

Brent crude futures rose 98 cents, or 1.4%, to $72.05 a barrel at 0542 GMT, after falling 1.6% on Thursday.

U.S. West Texas Intermediate (WTI) crude futures climbed 93 cents, or 1.4%, to $68.35 a barrel, clawing back a 1.4% loss on Thursday. more in the article

Dave   Good news.......Thanx Ladies....

Dave   not really sure their meaning of Covenant.......

butterfly  Dave it is the waiting game.............again.

Dave   No major laws to be passed with this Interim Govt though......

butterfly   Dave guess we will have to wait on that also.

Butterfly   last post from the parliament.............. https://en.parliament.iq/2021/08/25/al-kaabi-only-vaccination-will-end-the-ferocious-spread-of-covid-19-in-iraq/ ....................... Al-Kaabi: Only vaccination will end the ferocious spread of COVID-19 in Iraq   25/08/2021\\

Dave   only in Iraq?

butterfly   lol

Butterfly   This is the last article from here............................ https://gds.gov.iq/the-prime-minister-we-are-working-to-create-a-suitable-atmosphere-for-the-implementation-of-the-white-paper/ ......................... The Prime Minister: We are working to create a suitable atmosphere for the implementation of the White Paper 03 Aug 2021 - 12:13 pm

Dave   Al-Kazemi comments on the return of Al-Sadr: Iraq first.......

butterfly   https://ninanews.com/Website/News/Details?Key=923848 ...........................

The Secretary of State makes a phone call with the US National Security Adviser ....................... Minister of Foreign Affairs Fouad Hussein made a phone call to the US National Security Adviser, Jack Sullivan.

Hussein, according to a statement by the ministry, offered condolences to the US government for the fall of a number of American soldiers, in addition to a number of Afghan citizens, following the bombing that took place yesterday in the Afghan capital, Kabul.

Dave   Corruption seems to nunber1 on the agenda of this Covenant.....

Dave   butterfly Afghanistan safe haven for all terroists.......have boots on the ground in Pakistan.......thats scary......they have BIG BOMBS

Dave   Taliban Labelled a terrorist organization by the UN

Dave   heard nodda from the UNSC

butterfly   Dave no matter what happens in Afghanistan it was going to happen, no matter who decided to bring these people home. These Taliban people are totally nuts, sorry to post this but I bet they even make love to their guns.........they know no other way but to kill.

Dave   Treat their Dogs better than women

butterfly   Hate begets Hate.

Dave   Like their Dogs.....

butterfly  Yuppers totally agree and if you have noticed most men won't protect their women or children.....

Butterfly   https://ninanews.com/Website/News/Details?Key=923873 ............

Al-Kazemi and Macron hold an official meeting at Baghdad Airport

Saturday 28 August 2021 01:10 .............. Prime Minister Mustafa Al-Kazemi and French President Emmanuel Macron held an official meeting in the grand hall of honor at Baghdad International Airport, before the start of the work of the Baghdad Conference for Cooperation and Partnership this morning.

butterfly   Cooperation and Partnership

NORV   Why does Iraq not have a small currency? An economist answers!

08/26/2021 01:38:59 PM  special/ range   Today, Thursday, the economic expert, Salama Sumaisem, revealed the reasons for the disappearance of small currencies in Iraq.

Sumaisem said in an interview with (Al-Mada), that "Iraq does not have the small currency for many reasons, the most prominent of which is borne by the former regime."

She added that "the decline in the value of the Iraqi dinar in the nineties of the last century due to the embargo forced the government to print the currency illegally in order to pump more to cover the financial deficit at the time, which resulted in the disappearance and decay of the small currency."

She pointed out that "presenting small currencies now needs two things, the first of which is to control inflation in the markets, and this matter is very difficult to control by the government, especially after the step of devaluing the Iraqi dinar."

Sumaisem explained, "The second thing is the need to restructure the Iraqi monetary system, and this requires a very flexible monetary policy in order to achieve this."   https://almadapaper.net/view.php?cat=245959

NORV   Sumaisem explained, "The second thing is the need to restructure the Iraqi monetary system, and this requires a very flexible monetary policy in order to achieve this."

Zig   NORV :    :Hi: @Kap!! NORV is the well-known @Kaperoni in case some readers don't know that....

sheila   A little music while we wait: Please Don't Let Me Be Understood by The Animals - https://www.youtube.com/watch?v=Bw7RTUEZMyg

butterfly   Zig Well NORV always talks about the float so I guess we will see...............

Zig   The float scenario is not popular among Dinarians who want to get rich overnight.....lol

butterfly   I don't care if it takes weeks/months/years...........just give me some ** money lol

Zig   :Yes:

butterfly   Did you see where France is wanting to partner with Iraq? Another country.......one by one.

Zig   Yeah...many countries have interest which is great....they see what the future may bring....

butterfly   I hope we are all alive to enjoy it.

Zig   :Fingerscrossed:

Butterfly   https://ninanews.com/Website/News/Details?key=923843 ......................................

The Municipality of Baghdad completes its preparations to host the capital, the Baghdad Summit for Cooperation and Partnership

Friday 27 August 2021 21:36 ........It is noteworthy that the Baghdad Conference for Cooperation and Partnership, called by Prime Minister Mustafa Al-Kazemi, will start its work tomorrow, Saturday, in the presence of many leaders of the region and the world, and is an important event for Iraq and the entire Middle East.

sheila   This is a long update. Hopium All Around Us: Nick's Update, Friday, August 27, 2021 -- https://www.youtube.com/watch?v=UMVjToYOjbM

butterfly   A school district opted out of free and reduced-price meals, saying students could “become spoiled”..................... https://www.washingtonpost.com/education/2021/08/27/waukesha-wisconsin-schools-reject-federal-program/?utm_medium=social&utm_campaign=wp_main&utm_source=twitter ........... if you hate children so bad, stop having them. Good grief this is so heart sickening.

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