Zig’s Place Chatroom News Thursday 11-18-21

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 Butterfly   World Bank: Iraq's Economic Growth Is Gradually Recovering, But It Is Fraught With Risks

Economic   Last Update 11/18/2021 | 12:31 Pm   A World Bank report confirmed, Thursday, that Iraq’s economic growth is gradually recovering due to the downturn in the epidemic and the increase in non-oil activity, expecting that the improved global oil market conditions will enhance growth in the medium term and turn financial and external balances into surpluses from 2021 and reverse the recent rise in Debts .

The report, translated by "The Information", stated that "the downside risks to the growth of the Iraqi economy are related to possible epidemiological developments, fluctuations in oil prices, setbacks in the security situation, and impeding the implementation of economic reform."

He added, "Iraq is one of the world's most dependent countries on oil. Over the past decade, oil revenues accounted for more than 99 percent of exports, 85 percent of the government budget, and 42 percent of GDP, and this excessive dependence on oil exposes the country to fluctuations." macroeconomics, while budget resilience correlates with growth.”

butterfly   He continued, "The Corona virus epidemic had a significant impact on Iraq's gross domestic product in 2020, which shrank by 15.7 percent, and its budget revenues shrank by 9 percent, which led to a sharp decline in public spending and investments."

And he indicated that “as of January of 2021, the unemployment rate in Iraq was ten percentage points higher than the pre-pandemic level, which stands at 12.7 percent, and unemployment is still high among the displaced, returnees, job seekers, self-employed and workers in the informal sector before the spread of epidemic. Food security concerns persisted despite the recent upward trend in the proportion of households receiving public and private transfers, including food rations.”

The report indicated that “while Iraq’s economic conditions are gradually improving with the recovery of global oil markets, this recovery is also fraught with major risks posed by structural bottlenecks, including public investment management restrictions that have affected the delivery of public services, and slow payment of arrears, especially those related to wages. public, significant exposure to government property, due to the fragile political situation, weak healthcare system, and endemic corruption that continues to foment unrest across the country. https://almaalomah.me/2021/11/18/565307/

butterfly  Expert: The United States Has Launched A Counterattack On Oil Prices

Economic   Last Update 11/18/2021 | 3:34 Pm   Economist Nabil Al-Marsoumi stated, on Thursday, that the United States began an attack on international oil prices with the aim of lowering them.

Al-Marsoumi said, in a post on his Facebook page, which was seen by the "Information" agency, that "the United States leads the world to use strategic oil reserves with the aim of lowering prices and stimulating economic recovery."

He added, "China has already begun to withdraw from its strategic oil reserves."

Al-Marsoumi did not rule out that other countries would follow suit, such as “India, Japan and South Korea.” https://almaalomah.me/2021/11/18/565376/

butterfly   Al-Maliki Sets The Date For The Start Of The Political Dialogues And Confirms: There Is No Government Without National Consensus

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Politician   Last Update 11/18/2021 | 3:41 Pm   The head of the State of Law coalition, Nuri al-Maliki, set, on Thursday, the date for the start of political dialogues between the blocs, stressing that the formation of the government cannot take place without a national consensus.

Al-Maliki said, in a statement received by Al-Maalouma agency, a copy of it, on the sidelines of his meeting with the new UK ambassador to Iraq, Mark Bryson Richardson, that the elections are a national commitment and their integrity is one of the ingredients for their success.

He pointed out that "there is skepticism about the results and the mechanisms used by the commission," adding that "the option of re-election is unlikely, but addressing these complaints, I think, will be the beginning of a way out of this crisis."

The head of the State of Law coalition said that "the formation of the next government cannot be without national consensus."

And regarding political alliances, al-Maliki confirmed: “After the election results are approved, dialogues related to forming the government will be launched,” expressing his hope to “form a government that expresses the aspirations of Iraqis and is able to provide services.” https://almaalomah.me/2021/11/18/565359/

butterfly   Parliament Adviser Sets The Date For Holding The First Session Of The New House Of Representatives

Politician   Last Update 11/18/2021 | 2:21 Pm   Parliament advisor Noureddine Al-Qablan revealed, on Thursday, the details of the first session of the House of Representatives, indicating that Parliament is obligated to hold the session 15 days after the ratification of the election results.

Qabalan said in a statement to "The Information", that "political consensus is enough to end political differences over the results and their final announcement, and then ratify the names of the deputies by the Federal Court."

He added, "Parliament will abide by the legal terms and will announce the holding of the session as soon as the election results are approved by the Federal Court within 15 days of their ratification."

Qabalan indicated that "the first session will be chaired by the oldest speaker of the parliament, and then the speaker and his two deputies will be elected permanently, and the door for candidacy for the presidency in the next or following session will be opened." https://almaalomah.me/2021/11/18/565345/

Sheila   @Zig Do you think the entire 100T dinar will hit the markets in 1 day? Like big bang? Believe much of it being held by countries as an asset to leverage for present and future oil and other resources. And those countries can trade, leverage dinar for other countries resources. 100T will not "flood" into the economy like a big bang. If 100T is what's out there, that is just one opinion. Not facts, opinions.

butterfly   The Commission: The issue of the election results will be resolved in the middle of next week

11-18-2021 05:11 PM   The Commission - The issue of the election results will be resolved in the middle of next weekThe Independent High Electoral Commission confirmed today, Thursday, that changing the election results depends on the decisions of the judiciary regarding the outcome of the appeals and their answers, while it indicated that the middle of next week will be resolved.

The Director of the Media and Mass Communication Department at the Electoral Commission, Hassan Salman, said in a statement that “the commission received almost all the appeals from the judiciary within the legal period,” noting that “the number of appeals reached more than 1,000, including what is contradicted by the commission .”

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Salman added, “There are six appeals in this field, and legal measures are supposed to be taken in accordance with the commission’s decision, which may require a certain time and may not require much time .”

On talking about changing the election results, Salman explained, “Changing the election results depends on the judicial authority’s decision on the outcome of the appeals and their answers,” stressing that “the last decision of the judiciary .”

He continued, “I personally think that next week will be the decisive week, perhaps in the middle of the first or second .”   dijlah.tv

butterfly  Expert: The price of a barrel of oil in the 2022 budget should be set at $70

Thursday, November 18, 2021 | 09:16 am   Expert - The price of a barrel of oil in the 2022 budget should be set at 70Economist Safwan Qusai expected, on Thursday, that oil prices will continue at the $80 barrier over the next year, according to the OPEC Plus meetings.

Qusay said in a press statement, “The Ministry of Oil announced early that it would price a barrel of oil at $50, then raised its estimates to $60 in the budget for the next year, and it is expected that the OPEC Plus agreement would have emphasized maintaining the price of a barrel of oil at $80 during 2022. “.

He added that “the price of a barrel of oil, realistically, should be set at 70 dollars in the next year’s budget, so that there is a possibility to defend oil revenues in the event that it falls below the 70 dollars a barrel barrier, through the surplus achieved at the beginning of 2022.”

Qusay expected the energy markets to continue to demand oil, especially with the winter season, in addition to the possibility of recycling the surplus that will be achieved during the next two months. Public investment and consumer spending is supposed to be built on the basis of 150 trillion dinars, especially since Iraq needs to finance unfinished investment projects to create job opportunities and face rising prices. aynaliraqnews.com

butterfly   Iraqi Dinar/US Dollar auction results for Sunday 11-21-2021 executed today 11-18-2021

25k Iraqi Dinar notes The results of the foreign currency sale window, Sunday, 11/21/2121, and executed today

Announcement No. (4530)   Sale date – Sunday 21/11/2021 and executed today the details

Amount   Total sales for the purposes of strengthening balances abroad (remittances, credits)  158,846,931

Total cash sale  33,650,000    total total sales  192,496,931

Note that:  The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar.

The cash sale price is ( 1460 ) dinars per dollar.   cbi.iq/currency_auction/view/1156

Sheila   @Zig Maybe bigger questions can be asked about ZIM currency?

Zig   sheila : Have none....know nothing about it....have only Dinar and Vietnamese Dong....

Doug_W  Zig Ditto

Sheila   Zig have some zim, just in case. There are over 200 countries in this world participating in central banking. domino effect?

Sheila  later

Zig   sheila : As you know I am not a big believer in any so-called "Reset" but what do I know....lol....I will hold on to my Dinar and just wait....nothing else we can do....rumors abound as always....IMO it is best to ignore ALL rumors....until something happens everything is just conjecture.....so  :Waiting: and hope "something" will occur in the future to raise the value....Take care......

Dave   sheila Do agree with you...100Trillion IQD in circulation.......Once it leaves CBI...they have no idea where it lands.......In our pockets or mattress stuffing in Iraq.......

Dave   Quite sure that our central bank nor any other bank holds exotic currency but quite sure there maybe a few Canucks that hold a few notes

Doug_W   Our Gov signed laws today aimed directly at stopping biden AND he signed them in Brandon on purpose lol

butterfly  Doug_W I just got back and saw your post. What are you talking about?

Doug_W   lets go brandon so our gov who wants to stop Biden from his mandates signed new laws in the city of Brandon as a slam

professor dinard   People who love more govt intervention to solve issues often seem to forget that most issues are caused by govt intervention....m

Sheila   Article -- "No Such Thing As Enough Money" by Jacob Shroeder, October 27, 2021 https://incognitomoneyscribe.com/2021/10/27/no-such-thing-as-enough-money/

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