Zig’s Place Chatroom News Monday AM 12-13-21

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butterfly   Economist to / NINA /: Ending Kuwait's debt file will contribute to reconsidering Iraq's credit rating and its exit from Chapter VII

Monday 13 December 2021 An expert in economic affairs, Safwan Qusay, confirmed that the decision to end Kuwait's debt file will contribute to reconsidering Iraq's credit rating and allowing Iraq to get out of the sanctions imposed on it in accordance with Chapter VII.

Qusay said in a statement to the National Iraqi News Agency ( NINA ): "It has become clear that Iraq is moving towards clearing the debts of the first Gulf War by paying the last installment of 600 million US dollars, after it succeeded in paying more than 50 billion US dollars incurred as a result of the occupation of Kuwait."

And what followed,” noting: “This will contribute to reconsidering Iraq’s credit rating and allowing it to get out of the sanctions imposed on it in accordance with Chapter VII.”

He added, "However, the financial liberalization of Iraq's money should focus on the continuation of the American protection system for these funds, because raising the American protection system will enable Iraq's creditors to seize these funds."

Qusay stressed the financial policy maker in Iraq to invest in this situation in favor of activating the decisions of the Kuwait Conference in support of the rehabilitation of Iraq by supporting Gulf investments and supporting international guarantees in favor of investment growth in Iraq.

He continued, "This approach can restore confidence in Iraq's financial ability and free 3% of Iraq's oil revenues to finance the Iraq Sovereign Fund, which will represent the new window to support investment and establish infrastructure in Iraq."

butterfly   And the Central Bank of Iraq announced last Thursday that it had ended the necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues.

And he confirmed, in a brief statement, the possibility of paying the remaining amount of compensation in full before the end of the current year 2021 to end this file. https://ninanews.com/Website/News/Details?key=944525\

butterfly   The Financial Advisor Talks About The “Dark Path” Of The 52.4 Billion Dollars That Iraq Paid To Kuwait

Economic   Last Update 12/13/2021 | 4:34 PM   Mazhar Muhammad Salih, the financial advisor to the Prime Minister, explained the details of the decision to stop Iraqi compensation to Kuwait following the war between the two countries in the last century.

Saleh pointed out, in an article seen by the "Information" agency, the path of the international resolution in this regard and the stations for its implementation between Iraq and Kuwait.

He pointed out that Iraq was able to complete the compensation imposed on it, which amounted to more than 52 billion dollars https://almaalomah.me/2021/12/13/570625/

butterfly   The Information” Reveals The Details And Features Of The 2022 Budget And The Date Of Its Submission To Parliament

Economic   Last Update 12/13/2021 | 12:33 PM   The financial advisor to the Prime Minister, Mazhar Muhammad Salih, ruled out, on Monday, a proposal to change the dollar exchange rate during the current budget, indicating that the 2022 budget is ready for voting.

Saleh said in a statement to "The Information" that "all statements about changing the dollar exchange rate or returning to the previous rate are incorrect, indicating that "the benefits of raising the dollar price are great and can never be neglected, and talking about changing the exchange rate has become a thing of the past."

He explained that "the speculative price of a barrel of oil will be in the 2022 budget by about $50, which is less than the expected global price, which amounts to $70 per barrel," noting that "the global price of oil depends on several global data, as well as the government's intention to raise non-revenue rates." oil and increasing dependence on it.

Saleh added, "The government will present the budget ready to Parliament as soon as the constitutional procedures for the elections are completed," noting that "the budget witnessed some changes until the number allocated to it is not very different from the 2021 budget." https://almaalomah.me/2021/12/13/570561/

butterfly   A Country Neighboring Iraq Is Preparing To Launch Its Own Digital Currency

Economic   12/12/2021 | 3:38 PM   The Governor of the Central Bank of Iran, Ali Salehabadi, announced today, Sunday, that "the national digital currency will be launched soon on a trial basis."

During a meeting with the heads of missions of the Islamic Republic of Iran in neighboring countries, Ali Salehabadi said: "With regard to liberating our sources of hard currency, good measures have been taken, and the capabilities of the Central Bank to manage the foreign exchange market have doubled."

Abadi added: "The Central Bank is working seriously to facilitate the securing of foreign exchange from small exporters, in cooperation with the competent authorities and through specific mechanisms." https://almaalomah.me/2021/12/12/570393/

Doug_W   https://www.youtube.com/watch?v=_Gn_alAgOCo

Doug_W   U might want to listen to that

Sheila   Doug_W Thanks for that video. Strange it is.

Doug_W   very

butterfly   Devaluation of the dinar..!

2021-12-13   10K Iraqi Dinar notesMuhammad Abdul-Jabbar Al-Shabout || These days are passing the first ominous anniversary of the decision to reduce the value of the Iraqi dinar against the dollar in the most heinous deception and fraud against the Iraqi people.

As a direct result of this decision, the government’s imports increased, and the purchasing power of citizens decreased. And it does not need specialists and experts to find out. The petrodollar is the main source of money in Iraq. If the value of the Iraqi dinar was reduced, the size of the state’s financial income increased by the same percentage after converting the oil dollar into dinars.

This process benefits the government and the Ministry of Finance in particular, but in return it harms the Iraqi people, especially the employee class, which constitutes the main nerve of economic life in Iraq, in addition to the outrageous rise in the prices of goods, most of which are imported and are paid for in dollars, whose value has increased in dinars. Here, too, the consumer pays the difference in price.

The government cited many justifications and “benefits” for the devaluation of the dinar. The government’s words contained many inaccuracies, because the real benefit of this decision is to reduce the financial pressure on the Ministry of Finance and rid it of the financial distress that it was said to be suffering from.

It is also a weak argument because oil prices continued to rise after the decision to reduce the value of the Iraqi dinar. Prior to this decision, experts and economists presented many proposals and ideas to the governments of Adel Abdul-Mahdi and Mustafa Al-Kazemi, but the two governments ignored these proposals, while the current government only went to the proposal to reduce the value of the dinar. After a year of the fateful decision, no one can deny the fact that the Iraqi citizen is the first victim of this decision.

butterfly   And no matter how the beneficiaries, politically and financially, try to cover this up, their attempts fail because the citizen who buys flour, rice, fat, sugar, cleaning materials and others knows that the high prices of these materials and others are the direct result of the unjust decision. The catastrophe is that the government, which benefited from the devaluation of the dinar, did nothing to help the citizens affected by its decision.

The suffering of Iraqis multiplied as a result. It is even more unfortunate that most of the political forces colluded with the government in its unfair decision and did not stop it from taking a stand keen on the interests of the citizens, while the representatives of these forces remained silent about the decision.

There is no doubt that Iraq needs a radical reform of its distorted economy in all respects. Surprisingly, Article 25 of the constitution says: “The state guarantees the reform of the Iraqi economy according to modern economic foundations, in a manner that guarantees full investment of its resources, diversification of its sources, and encouragement and development of the private sector.”

But we have not seen any serious steps to reform the Iraqi economy since the adoption of the constitution until today. It has not taken deliberate steps to move from a socialist-oriented economy to a free one, has not taken serious steps to increase the productivity of society in agriculture and industry, has not taken serious steps to protect local production, has not taken serious steps to move from a rentier and consumer economy to a productive economy, and has not taken serious steps to transition From a single economy (dependence on oil) to diversifying sources of money and maximizing state revenues.

And so on in various fields. The result is the survival of the Iraqi economy in a state of underdevelopment and consumerism, excessive reliance on imports, and spending the bulk of the state budget on salaries.

butterfly   All this necessitates going to the development of a grand strategy to reform the economy and thus improve the living situation of citizens, provided that this strategy is developed by experts specialized in the economy, finance and industry and implemented by competent, loyal and honest people.  Subscribe to burathanews.com

butterfly   An Advisor Confirms…The Hard Currency Reserves In America Rise To 64 Billion Dollars

December 13, 2021   Central Bank of IraqThe Independent – A senior source in the Central Bank of Iraq announced that “the hard currency reserves of the US Federal Bank rose to 64 billion dollars, due to the rise in the oil markets.”

The source commented on the possible US decision that “it will bring significant financial benefits to Iraq,” which was confirmed by the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih.

Saleh said in a press statement: that Iraq “will reap a great benefit in light of the new monetary policy of the United States of America, because the Central Bank of Iraq invests its foreign reserves in the United States, providing the highest returns and lower risks.”   mustaqila.com

butterfly   The depreciation of the dinar is one of the reasons.. Iraq has the fifth highest inflation rate in the Arab world

2021-12-13 07:27   The depreciation of the dinar is one of the reasons.. Iraq has the fifth highest inflation rate in the Arab worldShafaq News/ Iraq ranked fifth with the highest inflation rates in the Arab world, according to Forbes Middle East magazine.

The magazine said in a report seen by Shafak News Agency; “Sudan ranked first with the highest average inflation rates in the Arab countries for the year 2021, at 194.6%, compared to 163.3% during 2020, after the value of the Sudanese pound fell against the US dollar since the beginning of the year by 695%.”

She added that Yemen ranked second in terms of the highest Arab inflation rates this year at 40.7% compared to 23.1% in the year of Covid-19, followed by Libya with 21.1% in 2021 from only 2.8% during the past year, and then the fourth Arab countries with an average annual inflation of 6.5% In 2021, compared to 2.4% last year.

She pointed out that “Iraq ranked fifth in the ranking of the highest inflation rates in the Arab countries, where inflation will rise to 6.4% this year 2021 from 0.6% in 2020, while inflation for 2022 will decrease to 4.5%,” noting that “the rise in inflation in Iraq The recovery of domestic demand in Iraq and the devaluation of the currency resulted in inflationary pressures in the country, although the past eight years witnessed stabilization of inflation from low levels due to the decline in import prices and weak demand.

butterfly   However, the statistics of the Central Bank of Iraq show that the Iraqi dinar fell 23.6% against the dollar, which was exchanged last month at a price of 1480.8 dinars, compared to 1198.4 dinars in March 2020, that is, with the outbreak of the epidemic in the region, and the inflation rate in Iraq rose by 6.8% in the month of October. Last October, according to the Ministry of Planning.

She explained that “the IMF expects Sudan, Yemen, Libya and Algeria to remain in the first four places in terms of the average annual inflation rate for 2022 at 41.8%, 31.5%, 8% and 7.7%, respectively, while Tunisia may displace Iraq from the fifth place, where inflation will reach In Tunisia, it will reach 6.4% next year, while Iraq will record 4.5%.

Tunisia, whose average annual inflation rate will rise to 5.7% this year from 5.6% last year, is in sixth place, ahead of Egypt, which comes in seventh place, where the average inflation rate for the fiscal year 2020/2021 will reach 4.5% from 5.7% in 2019/2020. .

While inflation in Kuwait will rise to 3.2% this year from 2.1% last year, the average inflation in Saudi Arabia will decline this year to 3.2% from 3.4% last year, provided that it approaches the acceptable limits at 2.2% next year, and the Sultanate of Oman ranks tenth With inflation reaching 3% this year, it is expected to decline to 2.7% in 2022.

The average inflation rate in the rest of the Arab countries will be less than 2% this year, noting that international monetary institutions such as the Federal Reserve and the European Central Bank consider the acceptable level of inflation to be 2% or slightly less.   shafaq.com

Bobby Cahill   Funny how all these supposed Gurus and YouTube idiots never tackle the tough pertinent articles such as the devaluation article. If it doesn't fit their narrative, it's not newsworthy. On the other hand they take newsworthy articles and twist em to their narrative. Go RV!!!!

Bobby Cahill   That devaluation article says a lot as to why Iraq will remain Iraq

Bobby Cahill   But for now Iraq is in a Constitutional vacuum

Sheila   ARTICLE: New Quantum(dot)gov Website

New Quantum(dot)gov Website by Kat - 10.8.20

Lookee lookee here. A new website just popped up: https://www.quantum.gov<br><quantum/gov>  

NATIONAL QUANTUM INITIATIVE

The Federal Source and Gateway to Quantum R&D Across the U.S. Government

Oh, here's an interesting October 7, 2020 article:

Quantum Frontiers

Report on Community Input to the Nation's Strategy for Quantum Information Science

Product of The White House National Quantum Coordination Office October 2020,,, CONTINUED ON THIS LINK...

https://dinarrecaps.com/our-blog/new-quantumdotgov-website

Dave   ARRG...postpone and more delay....... The Federal Court postpones consideration of the case submitted regarding the election results to the 22nd of this month

December 13, 2021 Walter   political| 12:33 – 13/12/2021   image

Baghdad – Mawazine News,the Federal Supreme Court postponed, today, Monday, the consideration of the lawsuit filed regarding the election results to a date later this month.

And a judicial source said in an interview with “Mawazine News”, “The Federal Court held its session today to consider the appeals submitted with the election results and demand their cancellation, and heard the pleading of the lawyer of the head of the Al-Fateh Alliance Hadi Al-Amiri, who filed a lawsuit earlier, calling for the elections to be canceled and to consider the appeals submitted with their results.” Noting that “the court decided to postpone the case to the 22nd of this month.” Ended 29/A 4

https://www.mawazin.net/Details.aspx?jimare=178237

Dave  have these guys ever been ahead of schedule?

Dave   Makes me now wonder if those Judges are in negotiations with Maliki and his check book......2months forward......either there is Dirt or not......????

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