Frank26 Video "Behold The Evidence" Friday Night 5-22-2020

KTFA:

Frank26:  5-22-20......BEHOLD THE EVIDENCE

THIS IS ALL IN FRANK'S OPINION

F26:  Walkingstick told us to pay attention to Saudi Arabia and Kuwait…..Iraq cannot do business with them at a program rate. They told them they are going to a “market Rate” (see article below)

If you are going to an open market and are Article 8 what does that tell you?   That They have lifted the lifted the 3 zeros of your currency and added value…..

The citizens of Iraq are about to get purchasing power.

From article below:  "Iraq has a plan to move towards achieving an economic and financial balance with neighboring countries, and that the Iraqi market be open to all,

F26: Financial balance???? Not at a program rate….therefore they have lifted the value of their currency. And the only way they can do this outside the country (remember Kuwait and all those contracts?) they are going ballistic because they can now come into the country and do business internationally.

Be sure to listen to replay……

https://www.youtube.com/watch?v=L9zeaTTcX8I

DELTA:  Al-Kazimi's envoy to Saudi Arabia reveals the details of the visit: an economic balance and an open market

 05/22/220 Baghdad - Iraq today:

The Prime Minister's envoy and Minister of Finance Ali Abdul-Amir Allawi said on Friday that the trend is made up of three axes to develop relations with the Kingdom of Saudi Arabia and support the Iraqi economy.  

Allawi said, "The aim of the visit to Saudi Arabia is to go through three axes to develop Iraq’s relationship with the Saudi side, the first of which is immediate cash support to the budget.

As for the second axis, it is to stimulate private Saudi companies and institutions, especially in the fields of energy and agriculture, and urge them to enter Iraqi markets through investments, The third axis is the activation of the commercial aspect. "  

Allawi added, "Iraq has a plan to move towards achieving an economic and financial balance with neighboring countries, and that the Iraqi market be open to all, away from harming a specific party."  

He continued, "The government seeks to urge Saudi companies to contribute to the reconstruction of the country," stressing that "Iraq needs immediate financial support in order for the government to fulfill its obligations towards employees."  

Allawi stressed, "Many obstacles prevented investments in Iraq, including the laws and regulations in force, the loss of the incubating structure for foreign investments and the absence of banks at a global level, as well as the unpopular accounting and legal system, as well as the unpopular land acquisition system as well, all of these obstacles prevent the Saudi investor and any investor Another of the investment in other fields outside the oil fields, "calling for" the need to have an environment conducive to investment and the replacement of those laws and address the existing problems and obstacles. "  

And that "the administrative apparatus in Iraq is now incompatible with the requirements of the foreign investor, and it also contains major violations of corruption and interference in the way of taking decisions from parties not related to the investment work, interfering for the private and partisan benefit which is one of the main obstacles that keep the foreign investor", He pointed out that "when the investor sees this environment, he will be conservative, and no matter how large the Iraqi market is, it requires encouragement from the private sector, which also suffers from these constraints." 

On Thursday, Prime Minister Mustafa Al-Kazemi sent Finance Minister Ali Allawi to the Kingdom of Saudi Arabia on an economic mission.  

The Prime Minister’s Office stated in a statement that “Minister of Finance Dr. Ali Allawi heads to the Kingdom of Saudi Arabia as an envoy from the Prime Minister to discuss bilateral relations and economic conditions in the region and encourage investment.” 

http://iraqtoday.com/ 

Clare:  THANKS DELTA .....ALL THIS TALK MEANS NOT WITH A PROGRAM RATE IMO!  KAZEMI SAID NO MORE TALK …….HE SAID IT'S TIME TO ACT!!!! WOOHOO!!!!

Ryan1216:  Go Kazemi! Introduce the new rate!

Frank26, MilitiaMan and more Wednesday PM 5-20-2020

KTFA:

Frank26:  KTFA FAMILY...........EARLY THIS MORNING I TALKED TO YOU SPIRITUALLY ON HOW TO AVOID CONFUSION. YESTERDAY I TOLD "THE 3" TO BE AWARE OF CONFUSION.

TODAY A FOLLOW UP ARTICLE FROM THE PARLIAMENT HAS BEEN RELEASED TO AVOID ALL CONFUSION ESPECIALLY FOR THE CITIZENS.

READ THE FOLLOWING ARTICLE FROM DON961 VERY CAREFULLY .

 I ALSO SHOWED YOU THIS MORNING HOW THE CITIZENS ARE CONFUSED JUST LIKE YOU BECAUSE THE ARTICLES WERE SUCCESSFUL IN CONFUSING WHICH I SAID IS THE GAME PLAN RIGHT NOW.

NOTICE THIS ARTICLE IS NOW WITHOUT CONFUSION AND CLEARLY STATING THAT THE IQD HAS TO GO UP IN VALUE THROUGH THEIR EXCHANGE RATE.

NOTICE WHAT THEY SAY ABOUT THE FLOAT ............THIS WHOLE ARTICLE IS THE DIRECTION THAT I TOLD "THE 3" LAST NIGHT ...........TO LOOK FOR. STAY STRONG IN GOD AND DON'T QUESTION YOUR CONFUSION FOR THERE IS NONE WITH GOD.  

Don961:  A proposal on the government table to face the parliamentary economic and financial crisis warns!

Economie 05/20/2020 15:41 180 Editor: Zs   
Baghdad today - special

The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, on Wednesday (May 20, 2020), warned against demands to raise the price of the dollar against the Iraqi dinar to confront the financial crisis and maintain the hard currency, stressing that this decision is not in the interest of the Iraqi financial system.

Al-Saffar said in an interview with (Baghdad today) that "raising the dollar exchange rate to face the financial crisis and preserve the hard currency is one of the proposals and monetary measures that the state may take to avoid the liquidity crisis."

He added, "It is not in the interest of the financial system to raise the exchange rate of the dollar because it will lead to a decrease in the Iraqi dinar price and a decrease in purchasing power and will lead to inflation," noting that "the classes with limited income and those with salaries will be the first affected by this decision."

Al-Saffar pointed out that "raising the price of the dollar depends on the government's ability to apply the necessary public spending from other sources."

The economist, Rasem Al-Akidi, warned, Thursday (14 May 2020), of floating the Iraqi dinar against the dollar, that is, reducing the value of the Iraqi dinar against the dollar according to a proposal put forward by economists to provide additional funds for the Iraqi budget to be paid as salaries for employees.

Al-Aqidi said in an interview with (Baghdad Today), "The issuance of any decision to float the dinar against the dollar in light of the current conditions in Iraq is very dangerous for the country which is basically suffering from uncontrollable losses, namely fees, customs, taxes and many other financial resources."

And that "the flotation does not constitute an increase in the value of the Iraqi dinar, but rather we will see an increase in the exchange rates of the dollar due to the lack of its acquisition in the global market, especially with the decline in global oil prices."

He added that "the flotation will lead to a significant increase in prices, and will be paid by the poor," noting that "the flotation is taken in light of the stable financial conditions of the state, as well as the diversification of the economy and its dependence on resources other than oil."

Al-Akidi said that "floating the dinar against the dollar is launching the process of buying and selling without any limits, and the country will face an unprecedented rise in prices with limited and steady salaries, so conditions will be more difficult, especially in the humanitarian context."   LINK

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MilitiaMan:  There you have it. Just as Frank has taught, and as even Dr. Shabibi has mentioned in the past, that there will be confusion and propaganda at the END GAME..

The below quote and the underlined data above  is the data to focus in on. There is only one real option they have and will do. ioo.

As in, they will raise the exchange rate of the IQD by reducing the amount of Dinars to buy Dollars. There is a set of examples below and a chart from the CBI, is noted to have been updated yesterday. The CBI presently shows the public exposure of an increase in the money issuance. 

Keep in mind Delta told us days ago on a CC on the Arabic side of the CBI, that they did the increase in currency issuance,  which means that what we believe from their data is to be the small category notes and or even coins. Now they are public about it on the CBI site.

They are telling us by their actions, and with articles using confusing opinions trying to hide it or deflect from it.  I / we should look to the facts and they speak loudly imo, that they are just about now going into a market economy. Everything is ready and waiting. They can't do that with out raising the value of the IQD, imo.. 

I think everyone by now should know that with all we have studied to date, we knew that this was to come at the end.. 

The REER should follow in very short order. (Real Effective Exchange Rate) One more thing. We know they have been on film showing the destruction of large notes and in mass quantities!!  That fact also supports the large amount of money spent printing currency and or minting coins, is the new issuance being reflected on the CBI site. WE watch for the REER.. Lets see what the days bring us.. imo ~ MM 

"raising the dollar exchange rate to face the financial crisis and preserve the hard currency is one of the proposals and monetary measures that the state may take to avoid the liquidity crisis."

"The economist, Rasem Al-Akidi, warned, Thursday (14 May 2020), of floating the Iraqi dinar against the dollar, that is, reducing the value of the Iraqi dinar against the dollar according to a proposal put forward by economists to provide additional funds for the Iraqi budget to be paid as salaries for employees."

Example : 1USD = 1,190 or .0084 +-USD

1 USD = 500 IQD or .02 USD

1 USD = 100 IQD or .01 USD

1 USD = 10 IQD or .10 USD

1 USD = 1 IQD or 1 USD

1 USD = .50 IQD or 2.00 USD

----------------------------------------
https://cbiraq.org/DataValues.aspx?dtFrm=01/31/2004&dtTo=05/20/2020&tmId=157&dtformat=MMM,yyyy

Jun,2018 44,073,305

Jul,2018 43,769,039

Aug,2018 43,635,576

Sep,2018 43,804,863

Oct,2018 44,712,745

Nov,2018 44,561,304

Dec,2018 44,264,484

Jan,2019 44,374,103

Feb,2019 44,780,633

Mar,2019 45,537,228

Apr,2019 45,690,359

May,2019 46,607,315

Jun,2019 47,780,521

Jul,2019 48,304,066

Aug,2019 48,589,656

Sep,2019 49,412,513

Oct,2019 50,209,385

Nov,2019 51,009,568

Dec,2019 51,834,750

Jan,2020 51,964,539

Feb,2020 51,026,883

Mar,2020 53,819,264

Apr,2020 57,880,320

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What Is the Real Effective Exchange Rate – REER?

The real effective exchange rate (REER) is the weighted average of a country's currency in relation to an index or basket of other major currencies. The weights are determined by comparing the relative trade balance of a country's currency against each country within the index.

This exchange rate is used to determine an individual country's currency value relative to the other major currencies in the index.

https://www.investopedia.com/terms/r/reer.asp

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Don961: The Council of Ministers sets the days for the Eid holiday and directs the salaries of employees and the financial crisis  link  

MilitiaMan:  There are no coincidences now.  They will imo use this window to game the RI.. There is a Bank Holiday come Monday in the USA and UK, too.. ~ MM

Iobey777:  BOOM!! Praying this is it!

Delta, MilitiaMan and Mon. Night CC Replay for 5-18-2020

KTFA:

Samson:  Minister of Communications: We are working on implementing a project to automate border crossings

18th May, 2020

On Monday, Minister of Communications Arkan Shihab Ahmed confirmed that the ministry will implement the border crossing automation project, which in turn will provide the state treasury with a lot of financial revenue

A statement of the ministry seen by "Al-Iqtisad News" stated that "this came during a meeting with the delegation of the Parliamentary Services Committee headed by MP Walid Al-Sahlani," noting that "the Minister of Communications gave a full explanation of the future plans of the ministry and the most important projects that are working to implement them during the coming period, which Among the most important of these is the International Gate Project, which will mainly work to eliminate Internet smuggling operations, maintain the security of the country, and preserve the financial resources of the Ministry of Communications

He stressed that "the Ministry of Communications will have an important and significant role in preserving the security of the country and the security of communications, eliminating electronic blackmail, preserving the social fabric and eliminating the electronic delusion that works to harm the reputation of our beloved country

And the Minister of Communications stated that "the ministry started to open the doors of joint cooperation with the Media and Communications Authority and that the ministry will implement the project of automating border outlets, which in turn will provide the state treasury with a lot of financial revenues and eliminate fraud, forgery and administrative routine

He added, "He has granted all the powers granted to public companies in accordance with Law 22 of 1997 in order to accelerate and start the process of construction and reconstruction in order to provide the best services to our esteemed citizens    LINK

MilitiaMan:  We all should know that they have a massive amount of income to tap into at the borders. This is or should be a powder keg of money to help in supporting the country revenues.. May even exceed all oil revenues with oil being at $30+- x2.

That is a load of cash to help support the country. Boy do they need it too.

My take is they are at critical mass. The new PM has a very big job ahead of him, as noted by the IBBC 13 page letter he recieved. Can he get the atmosphere to be in full Article 8 compliance by raising the IQD to a new international rate  with the CBI, that is in sync with the 2019 Amended /2020 Budgets? We apparently will be seeing soon enough.. imo

 If that is the case, and they do go pass and or formulate the budget(s) and adjust to an internationally accepted currency reflecting and or creating a legal avenue for borrowing, that will also allow for the acceleration of reforms by ushering in that ability to borrow internally and or externally. 

They look to be doing exactly that, I'll bet though it is going still be a long road for them even after they do.

The culture with the elites, can be stifling to the progress of reforms. So, we see they are looking to open the borders in the coming days. 

That just may coincide with the lock down coming later this week. For a purpose? We shall see.. imo The IBBC report, suggests this time frame is URGENT and needs acceleration!!!... imo  ~ MM

IBBC LINK

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Samson:  Iraq 2020: A Country at the Crossroads

18th May, 2020

Members of the IBBC Advisory Council have published a paper entitled 'Iraq 2020: A country at the crossroads.'

The purpose of this extensive paper is to provide insight and advice to the new Iraqi Government. It particularly focuses on the political and economic backdrop to the country, with analysis and solutions from a private sector perspective.

The papers authors are Professor Frank Gunter (lead author), Prof, Mohammed Al Uzri, Dr Renad Mansour, Mr Hani Akkawi, Mr Hussein Al Uzri, Mr Shwan Aziz Ahmed, and Mr Christophe Michels for the IBBC's management.

The paper provides a broad view on how to support Iraq's transition, with a call to action ranging from the requirement to engage the Iraqi people, to solutions for the banking and investment sector, defeating ISIS and responding to COVID and healthcare specific solutions, and how to develop the private sector with a regulatory regime for successful business.

The paper has been sent to the Prime Minister, to the President, the President of Parliament, a number of Ministers and officials.

Christophe Michels, IBBC MD, says:

"Iraq is facing a deepening multifaceted crisis without precedent in recent times. This article has been published in support of the Iraqi Government which has the opportunity to use this crisis to change Iraq and prepare it for a better and more prosperous future".   

13 page report -  Iraq 2020: a country at the crossroads - English   LINK

KTFA MONDAY CALL REPLAY  WITH DELTA, AG-1 & MILITIA MAN

Playback Number: 605-313-5163 PIN: 156996#

https://fccdl.in/zrHyYKmvvf

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DELTA:  DEMONSTRATORS GAVE AL-KAZEMI A MONTH, TO IMPLEMENT LIST OF DEMANDS

05/14/20

Demonstrators in the Iraqi capital, Baghdad, gave Prime Minister Mustafa al-Kazemi a month to implement eight demands, including the trial of his predecessor, Adel Abdul-Mahdi, for the murder of protesters.

This came in a statement read out in the middle of Tahrir Square (the center of protests in Baghdad) yesterday, Wednesday, in the name of the "United Fajr Iraq Front", the first organization to emerge from the womb of the protests that started last October.

The statement praised the reformist direction of the Al-Kazemi government, which began its duties last Saturday, two days after it gained confidence from Parliament.

The statement gave Al-Kazemi a month to implement the demands, threatening, if not implemented, to escalate the protests until the entire political process was toppled, at the first deadline for protesters to the new government.

The demands included the trial of the demonstrators' killers - chiefly Abdul-Mahdi - to compensate their families, set a date for early elections, and administer retired independent election commission judges.

It also included returning the displaced to their areas of residence, revealing the fate of the missing, in addition to reducing the salaries of senior officials, activating the law of parties, achieving economic and political reform, and abolishing "ineffective" local councils.

In its first session last Saturday, the Al-Kazemi government decided to release all detained protesters, set up a committee to try those involved in killing protesters, and to seek a date for early elections.

The demonstrators in Baghdad - and Iraqi cities in the center and south - last Sunday resumed their anti-government protests and influential parties.

 It is noteworthy that Baghdad and other provinces have witnessed since last October, protests calling for wide reforms in the country, accountability for the corrupt, and interspersed with violence that killed more than six hundred people and wounded thousands, as well as the arrest of hundreds of others, before these protests receded in mid-March / Last March, for fear of an outbreak of the Corona virus.

MilitiaMan:  Thank you Delta, today is see nothing but URGENCY and ACCELERATION, in respect to reforms.. They report from the IBBC is all about urgency and change! That includes monetary reforms at the Borders, etc.. It includes the citizens demands as noted about too.. They mean business and so does the report. The good thing is that that 13 page report wasn't written in totality yesterday, but, over time and updated along the way to present. The pressure is on!! It may take 30 days for some things, but, imo they have no liquidity.. Hence, the argument is sooner than later imo.. ! ~ MM

"An open investigation into the persons who were responsible for the killing of protesters
over the last six months. Not just those who fired the guns but those who gave the
orders. Since confidence in the probity of the government leadership is currently low,
this investigation may require the involvement of an international organization. The
results should lead at a minimum to naming of those responsible although prosecution
would make a stronger statement that the government supports justice for the victims. "

https://secureservercdn.net/160.153.138.177/p40.b46.myftpupload.com/wp-content/uploads/2020/05/2020-05-14-Iraq-Economic-Outlook.pdf

Frank, MilitiaMan and KTFA Members Friday PM "China Syndrome" 5-15-2020

KTFA:

Frank26:  THIS IS WHAT OUR FF SAW  ........ TOO BAD SOME DON'T UNDERSTAND THIS ..... THAT'S MY 3RD SENSE ......(smile)

Don961:  Parliamentary source: Al-Kazemi's government will print the currency to pay employee salaries

Thursday 14 May 2020 | 3:30 pm   Baghdad / ...

Parliamentary source confirmed, Thursday, that the government of Prime Minister Mustafa Al-Kazemi will go to print a new local currency in order to pay the salaries of employees.

The source said to "Eye of Iraq News", "This measure is one of the solutions to overcome this economic crisis that is ravaging the country, so it is necessary to find harmless solutions for future generations such as the use of cash or gold reserves in the central bank."

He pointed out that we, "after the application of this procedure, we expect a decrease in the Iraqi dinar exchange rate against the dollar," stressing that "this will have a positive impact on activating the industry in Iraq and not resorting to global or regional markets that provide goods to Iraq at low prices because of the high exchange rate The dinar compared to the price of currencies in Turkey, Iran and others.

 "The financial advisor to the Prime Minister, Mazhar Muhammad Salih, had determined, on Wednesday, the loan disbursements that the government intends to request from home and abroad.

Saleh said in a press statement, "The government submitted a draft law to Parliament in order to authorize it to borrow from internal and external financing sources, in order to bridge the deficit and enhance public financial liquidity when necessary." And, "The borrowing came because of the financial hardship that the country is going through, and in order to bridge the revenue deficit gap against fixed expenditures, especially in the operating budget."

He added, "The legal cover did not provide the government with internal and external borrowing, due to the lack of a federal budget law for the year 2020." He pointed out that "internal or external loans will be included in the event of legislation for the budget for the year 2020 or its alternative the final account at the end of the fiscal year (as a reality)."

Saleh said, "External loans will go toward supporting investment projects and completing the stalled ones and the urgent need to launch them, while internal loans will be allocated towards the operational budget in the government's needs for insurance of salaries and others."

It is mentioned that the Iraqi Council of Ministers approved the draft of the domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 and refer it to the parliament in accordance with the provisions of the constitutional articles. Finished  LINK  

OneWildRide:  IMO... This is our China syndrome article. With all that's going on it's hard NOT to get excited.

Currency auctions shut down.
ISX shut down.
Three day holiday coming up.
Citizens getting paid with a new currency. Lol (lower denoms)
A new Government. (Stability)

As Frankie says "Come on man"

Even a blind man can read the writing on this wall.

I will admit it has been OneWildRide

2Cents:   IMO, I have learned through the 11 years of reading translated articles, I have learned that the problem with looking at just one article is that the precise meaning is hard to glean.....Often reading just the titles is even more misleading...to find the proper meaning, many articles on the same or similar subject matter, perhaps even over weeks, must be read and put together.....

IMO, The "printing of currency" refers to what the Iranian influenced politicians are pushing........This is in essence amounts to quantitative easing, increasing the money supply and decreasing the rate of the dinar against the dollar.  

They are advocating reducing the rate to 1300 or even 1400 based on the articles......This would then result in increased cost to bring in imports as it would require more IQD to purchase USD for remittances....so the National product would have more appeal as it could be sold cheaper....

This is how they are trying to "sell" that there would be benefits to the country if they would increase the money supply by just printing more money and decreasing the rate.....

lIMO, this is there last ditch effort to stop what we believe to be the inevitable and that which we hope for.....

IMSO, we certainly do not want them to go down the path that Iran is wanting to just print more money and decrease the rate....

Frank26:  CLEAR AND DIRECT OBVIOUS NEEDS NO FURTHER EXPLANATION WHEN FIRST GIVEN THE OPPORTUNITY TO DO SO.    UNDERSTOOD VERY WELL IN MY SPIRIT.  THANK YOU.

Samson:  - I believe 2cents is referring to what we have always been told that when this is about to hit there will be conflicting news that it won't happen - a China Syndrome effect.

Purifiers:    I AGREE SAMSON.... IMO, COULD THIS WELL BE "OUR"... "CHINA SYNDROME"?... THE NEGATIVE... BEFORE WE SEE THE POSITIVE??? A KODAK MOMENT... IN FILM PHOTOGRAPHY... IMO... YOU MUST HAVE A "NEGATIVE" TO CREATE A "POSITIVE"... END RESULT...A "PHOTOGRAPH"  MOMENT IN TIME, OF TRUTH... CAPTURED!!! METAPHOR OR NOT... SEEMS THAT THIS ARTICLE, IS TRYING TO POINT AWAY FROM THE "OBVIOUS" IMO

Frank26:  EVEN DOWN UNDER ............. UNDERSTANDS….LOL

MilitiaMan:  It takes some doing to understand the key points to articles. It also takes memory of who says what and what actions have they taken to support those actions. Alak is the one who spoke of value to loans last year. Alak spoke of not devaluing the currency and that they have done a good job keeping the exchange rate stable. So if the Dinar decrease from 1190 to say 1000 or 500 or to .85, the decrease in exchange rate to the dollar brings value! By actions and data from the CBI, IMF, World Bank, UST and the above imo they are about to bring value needed and the USA specifically said they supported monetary and economic reforms. In fact the world does!!! Imo ~ MM

JJimmyJJ:  It may be helpful to remember that much of the Iraqi public has a 4th grade education.  So "increasing the exchange rate by giving you fewer notes of less value" may not compute.

But,  "solve the financial crisis by decreasing the exchange rate" just might.

2Cents:  I will pretty well be out of touch until next Thursday….IMO. Nothing "big" will occur until then......Watching and waiting for Eid......."After Eid and before the New Year"   ---- Sinan al Shabbibi

2Cents:  IMO, Follow and understand payroll and the procedure that has to occur by the MOF (minister of finance) and you will see that we are still at least 6 days away.  What I posted is positive, not negative, as change appears imminent whether now, weeks or months away.  WE have never seen Iraq move as quickly as they are under Khadimi.

"BOY (beginning of year), middle or EOY" (end of year) -----Saleh (whom I have never listened to.  He has been at CBI and then economic advisor to Abadi and Mahdi.  I believe he is likely DS and has engaged as many do that either want to hide the truth or really don't know the truth - "baffle them in BS")

Weak currency increases import costs and therefore theoretically people will look to National Product

Strong currency decreases import costs and theoretically turn away from National Product

Printing more money, increasing the money supply weakens the currency.

Articles state 1300, 1400

IMO, ALL IS GOOD.....Look at what has occurred in the first week of Khadimi including but not limited to

Kuwait meeting:  "How do we get the donor conference money released?"  Answer: "...officially be acknowledged by the US, UST, WB, UN and the IMF that you have accepted Article VIII obligations...."

So, 

US ------> check, talked with DT personally
UST------> check, talked with DT personally
WB ------> check, meeting and they gave full support
UN-------> check, addressed UN and they gave full support
IMF------->   ?

It should be obvious what WE are looking for...........(it may be after the fact but WS may report,  time will tell)

Samson:  An economist is surprised to continue wasting huge amounts of money through the currency auction, and no action has been taken yet !!   LINK

MilitiaMan:  It is now FRONT and CENTER now to STOP the AUCTIONS.. Open the corruption files!! I'll bet, the new PM has already had that in the briefcase of things to do.. imo ~ MM

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Samson:  Victory Coalition: Al-Kazemi is able to establish a correct process that contributes to the introduction of new revenue for the budget

15th May, 2020

On Friday, the victory coalition affirmed the ability of the government of Prime Minister Mustafa Al-Kazemi to establish a "correct process" that would contribute to the introduction of new revenues for the budget.

The leader of the victory coalition, Aqeel al-Rudaini, told the official agency, "The biggest challenges facing the Al-Kazemi government are not only salaries, the economic situation and the Corona epidemic, but the biggest challenge is how to restore the state's prestige and win the people's trust, especially since 80% of citizens did not participate in the 2018 elections and this indicates On the existence of a hostile tendency between the political class and citizens."

He added that "the other challenge is the decline in oil prices and its impact on the economic situation," noting that "this crisis needs to develop alternative plans such as encouraging industry, agriculture, border ports and taxes, and this needs a long time, but it is possible for Al-Kazemi to establish a correct process. It is possible to introduce new revenues to the budget."

He continued, "The most important other challenge is to confine arms to the state, as there are a lot of weapons outside the scope of the state," stressing "the importance of working with two parallel lines and that there are external agreements to schedule the exit of US and Turkish forces in northern Iraq and this enables them to disarm."   LINK

MilitiaMan:  The country of Iraq lost their prestige in the exchange rate of the Dinar due to the conditions from the Saddam era and to now restore the prestige is to bring value back to the country via the REER applied to the currency.

Back to the Glory Days if you will. Prestige is important to currencies. Just as the British Pound lost her prestige after World War II, the opposite can occur with having mopped up the excess currency in the markets over time.

We watched a video of the CBI destroying large category notes and in massive quantities. To thus allow room for the new currency they have already printed to be introduced that will be new to the citizens.. Most are not old enough to have used the small category notes, coins or fils.. They lost their prestige and the latter went away.

Now it is time to restore the prestige with new small category noted, coins and fils.. imo.. That will bring usher in the new revenues he mentions.. Reconstruction of the country will bring many new revenues from around the world.. Big Time too. imo We are in a very sweet spot.. oh ya! The PM just leaked out the minutes of that crisis cell meeting from the looks of it.. lol imo ~ MM  

MilitiaMan:  The PM is speaking in terms as noted in 194 and 195 about things that will bring value.. imo..  The article i found from the WORLD BANK and the CBI about an agreement for asset portfolio management is in place. They need to RI to get international. The UNSC meeting was imo after the Crisis Cell metting with the money guys in Iraq, i.e., Minister of Planing, Minister of Finance, etc.. The PM is talking about restoring prestige and getting new sources of revenues.. Well Kuwait conference, is  billions of reasons to RI.. lol imo ~ MM

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Samson:  Lebanon is preparing for fundamental structural changes in its economy

17:30 - 05/15/2020

The Lebanese government announced today, Friday, its serious intention to reduce the number of commercial banks from 49 to about half in the country.

This was stated by the Lebanese Finance Minister, Ghazi Wazni, during an interview with "France Press", where he said: "We are ready to meet the request of the International Monetary Fund to float the exchange rate of the lira, but after receiving external support, provided that in the next stage a price Flexible exchange."

My weight said: “The IMF has always called for the liberalization of the exchange rate of the lira. They want to unify exchange rates and flotation, but the Lebanese government requested a transitional phase that passes the flexible exchange rate before we reach the flotation. ”

My weight pointed out that "we have to adjust the stabilization policy to the flexible exchange rate policy in the first stage and in the foreseeable future, and when we receive financial support from abroad we move to floatation," declaring that "the government wants to reduce the number of commercial banks numbering about 49 to about Half, as part of a reform plan that includes restructuring the banking sector.”

He explained that "the structuring of the banks will be step by step and there are several options for treatment, including consolidation, which is normal," adding "in Lebanon 49 commercial banks, and it is natural for the number to decrease to about half in the next stage."

On Friday, the Central Bank of Lebanon announced that it had made a decision to provide the US dollar for imports at an exchange rate of 3,200 Lebanese pounds, with the aim of reducing food prices.

The Reuters news agency quoted the Central Bank of Lebanon statement, which stated: “The Bank of Lebanon will continue to pump the cash dollars it acquires through banks, in order to finance the import at a price of 3,200 Lebanese pounds to the US dollar, with the aim of reducing food prices.” LINK

Don961:  imo ... like Iraq ... IMF doesn't want multiple exchange rates that can be exploited by speculators and banks .. without any tangible progress being made in the lives of the citizens by messing up the REER ... with multiple exchange rates in the markets

Frank26 Update and MilitiaMan Friday PM 5-8-2020

KTFA:

TINK: FRANK SOUNDED GOOD THIS MORNING. HIS BP WAS VERY GOOD TODAY 130/70 SOMETHING, HE SAID HE DIDN'T WRITE IT DOWN WHEN THEY TOLD HIM. SO MUCH BETTER. HE'S IN PAIN TODAY FROM THE SURGERY AND IS DEALING WITH THAT ISSUE TODAY.

TINK:  LATEST UPDATE: HI EVERYONE: UPDATE FROM FRANK ~ THE DR DECIDED NOT TO LET HIM COME HOME TODAY.HIS WHITE BLOOD CELL COUNT IS HIGH AND THEY WILL BE CHECKING HIM FOR INFECTION IN HIS BLOOD. IT'S PROBABLY HIS BODY REACTING TO THE SURGERY STRESS BUT WE WANT TO MAKE SURE HE'S GOOD BEFORE THEY RELEASE HIM.

PLEASE PRAY THAT THERE IS NO INFECTION. TY

Samson:  Washington to Al-Kazemi: We will follow how to implement the reforms that the Iraqis want

8th May, 2020
The US State Department confirmed, on Thursday, that it will follow how the new Iraqi prime minister, Mustafa Al-Kazemi, applies the reforms that Iraqis want.

"The United States will follow how the Iraqi Prime Minister applies the reform measures that the people are demanding," State Department spokeswoman Morgan Ortagos told Sky News Arabia.

She added that the Iraqi people should express their choices regarding their future, stressing "supporting the independence and sovereignty of Iraq."

The Iraqi parliament voted after midnight yesterday, Wednesday, on the government curriculum for the new Prime Minister Mustafa Al-Kazemi, and 15 ministers were voted on, so that Al-Kazemi’s government acquired an official capacity.

As soon as it was given the confidence, the Al-Kazemi government met with a domestic and international welcome, as both the US and Iranian foreign ministers congratulated its formation and pledged their countries' support for Iraq.

The United Nations, Britain and Turkey on Thursday also welcomed the occasion of the inauguration of the head of the intelligence service, Mustafa al-Kazemi, as head of the Iraqi federal government.  LINK

MilitiMan:  The State Department has their Eyes and Ears on how the reforms measures get applied..

The State Department would know about the meetings that were held in respect to immediate solutions to avoid more crisis and one of the reforms the citizens demand is their purchasing power to increase.

Just as the IMF and World Bank have talked about, as in if there was a time to allow other currencies into the SDR basket, the timing is now.

Thus, giving purchasing power will equate to a demand that the citizens want and they world as well. Not going to get into the SDR ever at a program rate.. imo..

So it it "LAUNCH" season imo.. lol ~ MM

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

Samson:  High-risk currencies are supported by progress on trade with China

8th May, 2020

Strong currencies linked to global trade rose on Friday, supported by news of US and Chinese negotiators agreeing to boost cooperation on a trade deal as more and more governments reopen their economies at a slow pace

Senior trade representatives from the United States and China discussed the one-stage agreement between the two countries on Friday, while China said it had agreed to improve the atmosphere for implementation of the agreement and the United States said the two sides believed that commitments would be fulfilled

The phone conversation came in light of escalating tensions between the two countries, which was exacerbated by the United States 'criticism of China' s response to the outbreak of the new Corona virus

The Australian dollar, which is closely related to sentiment towards China and the global economy, rose 0.3 percent to 0.6516 US dollars, after hitting earlier a week's high. The currencies of a number of emerging markets also rose

The US dollar suffered in search of a trend as investors challenged a widespread sense of pessimism about upcoming US employment data and focused on trade news and the gradual lifting of public isolation measures. What undermined the American currency was its damaged yield again, at a time when money markets are considering a low probability of negative interest rates this year

The dollar index, which tracks the performance of the greenback versus a basket of six major currencies, was unchanged at 99.851. The dollar’s ​​decline against higher-risk currencies indicates a recovery in risk appetite with the rise in global stocks, and the Nasdaq index has now erased its losses incurred since the beginning of this year

In addition to significant monetary easing around the world, hopes for a return to economic conditions support sentiment. The euro fell 0.1 percent to $ 1.0823, but held close to the lowest level in two weeks, which recorded on Thursday at 1.07665, although it fell more than one percent per week.

Against the yen, the dollar rose to 106.32 yen, above a seven-week low that it touched on Wednesday  

LINK

MilitiaMan:  There is some data out that may support that in fact there was a nice move in regard to the CBI of Iraq, possibly at close on Thursday. The data suggests as of 05/08/2020 2:35 PM out of Australia shows a move of 74.75% to the upside.. I am not fully sure of the context of the data just yet. But, this article has me smiling.. As there telling us the biggest players on the map are dealing, and it looks promising. The FIMA and SLL has been noted and the IMF and World Bank have spoken too.. We shall see if the data has legs.... imo.. ~ MM

Frank26 Update and more from KTFA Members Thursday 5-7-2020

KTFA:

Tink:  PRAISE REPORT!!!!!!!!!!!!!!! : FRANK IS OUT OF SURGERY-DR SAID HE DID GOOD! DR WAS ABLE TO PUT TWO STENTS IN HIS URETERS TO OPEN UP THE FLOW FROM THE KIDNEYS.

THEY WILL WATCH HIM OVERNIGHT AND SEE IF HIS KIDNEYS START TO FUNCTION WITH THE STENTS IN PLACE. IF THEY DO HE CAN COME HOME TOMORROW!!!

THE TUMOR WAS REMOVED BUT NOT ALL OF IT BECAUSE IT HAD ATTACHED TO THE MUSCLE IN THE BLADDER. CHEST CT WILL HAVE TO BE DONE AND HE BIOPSY WILL BE A WEEK TO GET RESULTS OF THE TUMOR TISSUE.

PRAISE GOD AND THANK YOU ALL FOR PRAYING! THERE WILL BE ANOTHER SURGERY BUT THAT WILL BE DETERMINED ON HOW HIS KIDNEYS START WORKING OF WHAT AND HOW IT NEEDS TO BE DONE. 

BillA:   Here is my train of thought,,,,,,If Iraq does not have enough money coming in to pay their people, bills, loans etc... snd then if they wait for Kazeimi to set his CAB, go over the budget as it has been said in a number of articles that it is ready to be sent to Parl. Make his changes, then send it to Parl. where it will go through the Financial, Legal committees.

Once they make changes based on their recommendation, then be sent to the Parl floor, where they will make recommendations which will necessitate more changes and then put to a vote which past history has shown will take multiple meetings to approve all/most of its' articles.

Historically this process takes from 45 to 60 days. We know that no one will give them a loan to keep up and running, So without reinstating their currency (with a fair rate as Pres Trump has declared). How in the world are they going to keep this country afloat for two more months without either RI'ing or going Bankrupt?

Also keep in mind, there has been no articles giving Iraq the ability to defer their current loan payments. IMO they might have two weeks, not two months.

Coco:  Al-Kazemi sending the budget bill to the parliament before Eid al-Fitr  (May 23, 2020).  Hopefully we'll see a new rate in the next 2 weeks.

GodLover:  I know it's been said over & over again..... the budget needs the rate...… the rate doesn't need the budget. I will add what I think should be stated..... the budget needs the rate & the rate needs the budget imo.  Some of the theories have always had me a little confused as far as the rate & budget imo. We hope the rate is in the budget... with that said, why would the rate come prior to the budget? What would the point be.... imo? I still say, the new rate couldn't be usable until the budget was opened imo. It would be like trying to cash a check that hasn't even been written yet imo.

ChrisC:  I would say, imo, that the people are not that worried about the budget but would be greatly affected by a rate change.  People in the market would be able to buy way more than what they have been able to and suffering people with a handful of dinar could hopefully get what they needed.  The budget could come along any time after they changed the rate.  I will follow this up with an example.  Our budget in the US is based on a value of the dollar and how many of those dollars that it takes to complete a given project.  If we didn't know how much they are worth, how could we say how many we need?  The value of the dollar is in NO way dependent on how many are allocated for any given task in our budget.  I don't see it being different in Iraq.

YoungSC:  That is why Frank has always stated rate before budget because the budget feeds off of the rate. I would trust Frank, Delta and walkingsticks word imo

YoungSC:  A cryptic key message Frank stated in his YouTube video last Saturday. Remember when he stated Family how long will it take to recover after my surgery, 2 weeks or so as he stated. Budget gets submitted before may 23 24. Think about those words from the teacher.

Samson:  Al-Shammari: Five priorities before the Al-Kazemi government

7/5/2020 18:08:50

 A member of the Political Bureau of the National Wisdom Stream, Fadi al-Shammari, saw five priorities before the new government headed by Mustafa al-Kazimi.

Al-Shammari said in his tweet on Twitter: "Five priority before the government, facing the Corona pandemic, tackling the economic crisis, re-arranging the scale of priorities, revitalizing investment and services, reorganizing and unifying the security decision, and supporting the security forces, the army, and the crowd."

He added also that the priority of the government "re - sovereignty and prestige of the state and the limitation of arms and end the farce of the militias and the configuration of the elections {early} transparent". LINK

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Samson:  IBBC contributes to World Bank Iraq Report

6th May, 2020
BBC contributes to World Bank launch and assessment on Iraq Economic Monitor

Iraq Economic Monitor - Spring 2020 - Navigating the Perfect Storm.

The World Bank has released its latest report on Iraq entitled "Navigating the Perfect Storm" with a special focus on "Laying the Foundations for a New Economy in Iraq: Digital Transformation". See link here.

The launch was done via a virtual media roundtable on 4th May and The Press release links can be found in English and Arabic. The report is also being circulated on the World Bank social media outlets.

Members of the IBBC advisory council, including Professor Frank Gunter, provided input that helped shape the final document, which predicts a GDP contraction of 9.7% in 2020 and some stark choices that country faces.

However, there is an extended section on Digital economy and transformation that points the way to change and opportunity.  LINK

Frank26 Update and more Tuesday PM 5-5-2020

KTFA:

FROM TINK JUST NOW .....Prayers Needed

They are admitting FRANK into the ER his potassium level and creatinine level and something on his EKG need to be addressed immediately ..

I’m here with him and I can stay with him.

Updates to come.... Thanks for your prayers! TINK

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

SPECIAL PRAYER CALL TONIGHT FOR FRANK AT 8:00pm

Call in number is 712-770-4010 Access Code 164723#

Currency365: 

Dinar RV Happens But Your State Still in Lock down? (Give Us Tips)

https://www.youtube.com/watch?v=3ODzyNwTxLM

The New Economic Normal & Precious Metals w/ Bill Holter

Operation Freedom:  May 4, 2020

In this must listen to economic analysis, Bill Holter presents compelling evidence of a new "economic normal".

He especially highlights the relationship between precious metals and other commodities such as crude oil.

https://youtu.be/k1dvxYwRS9c?t=1

Frank26 and KTFA Members Late Saturday Night 5-2-2020

KTFA:

Iggy:  Here is a quote by - Charles R. Swindoll

The longer I live, the more I realize the impact of attitude on life. Attitude, to me, is more important than facts. It is more important than the past, the education, the money, than circumstances, than failure, than successes, than what other people think or say or do.

It is more important than appearance, giftedness or skill. It will make or break a company... a church... a home.

The remarkable thing is we have a choice everyday regarding the attitude we will embrace for that day. We cannot change our past... we cannot change the fact that people will act in a certain way. We cannot change the inevitable.

The only thing we can do is play on the one string we have, and that is our attitude. I am convinced that life is 10% what happens to me and 90% of how I react to it. And so it is with you... we are in charge of our Attitudes.

Frank26:  5-2-20.... GOD IS GREAT!

The first part is about Frank’s upcoming surgery and the second part is Iraq investment news.

Praying for complete healing for Frank and Walkingstick

DELTA AND ANGEL1 ARE GOING TO TALK TO YOU WHILE FRANK IS RECOVERING…THEY WILL GIVE YOU REPORTS

ON MONDAYS.......THEY WILL EITHER MAKE A RECORDING AND RELEASE IT ON THE FORUM OR MAYBE JUST TYPE SOMETHING UP AND POST IT ON OUR FORUM FOR YOU

https://www.youtube.com/watch?v=j2vASBHiHn0&feature=youtu.be

Samson:  UAE Central: Banknotes do not transfer SK faster

3rd May, 2020

The UAE Central Bank denied that banknotes were a way to transmit infection of the Corona Virus to a greater degree than others, but like any other plastic, metal, or wooden surfaces.

The bank called on the users of banknotes to practice the same precautionary measures that are applied to other surfaces, indicating that these notes can be like any other surface as a means of transmitting the epidemic.

He explained: "Until today, no study by an official, reliable body working in the field of printing or dealing in banknotes has demonstrated that the Coronavirus is transmitted faster through banknotes, compared to anything else with a shallow surface."

The UAE Central Bank advised all users of banknotes to exercise the same precautionary measures that apply to other surfaces, such as washing hands with soap, or using antiseptics. He pointed out that he directed the banks to need to sterilize their ATMs periodically, and to provide a hand-sanitizer article for dealers besides those machines.    LINK

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Samson:  Zebari: Al-Kazemi’s government, Iraq and the region must be passed to the gates of hell

05/3/2020 

 The leader of the Kurdistan Democratic Party urged former Minister of Foreign Affairs Hoshyar Zebari to support the government of Mustafa Al-Kazemi. And Zebari said in a post, "The countdown to presenting Mustafa Al-Kazimi's booth to Parliament has begun. The Shiite blocs have objections to their ministerial shares with the prime minister-designate," he said.

He added that the Shiite blocs, "they want to put the blame on the Kurds in the failure to pass the cab, knowing that the Kurds supported Al-Kazemi from the first day and made concessions to him for his success" according to his expression.

And he stressed at the same time, "Therefore, he must be supported - Al-Kazemi - in his noble endeavor to form the next government because Iraq and the region (Kurdistan) are at the gates of hell."

Parliament Speaker Mohammed Al-Halbousi yesterday invited representatives to come to Baghdad on Monday, in preparation for holding a special session to consider giving confidence to the government of Prime Minister-designate Mustafa Al-Kazemi.

A committee to study and discuss the parliamentary governmental curriculum expected to vote on the cabinet of the Prime Minister-designate Mustafa Al-Kazemi next Tuesday. Committee member Representative Yonadam Kanna said in a press statement that "the process of forming the government is nearing completion with insistence not to rotate any minister or minister who was a minister in the previous governments" expected, "that next Tuesday will be a date for voting on the government in the House of Representatives in If the CVs are submitted two days before this date."    LINK

Don961:  After the collapse of oil prices and the decline in the entry of hard currency into Iraq ... a difference of opinion ... Will Iraq face Lebanon's fate in the collapse of the currency ... Will the dinar collapse against the dollar?

May 2, 2020 8:40 PM 

Baghdad / Nina / Rinas Al-Radi:

The Iraqi street, especially the commercial and real estate circles, is witnessing a state of intense fear and fear as a result of the drop in oil prices and the decline in the entry of hard currency into Iraq, which threatens the collapse of the dinar against the dollar and confront the fate as Lebanon's fate and its national currency.

Experts on economic affairs differed in opinions on this issue. Some of them assured the people of the strength of the dinar against the dollar, and some of them put the ball in the court of the government and its strength in the face of this crisis.

The Iraqi dinar is a good store of purchasing power ...

This is what was stated by the economist, Raad Twigg, who emphasized: “The Iraqi dinar is a good store of purchasing power.”

Twij said in a statement to / NINA: »The Iraqi citizen has become increasingly concerned about the possibility of the devaluation of the Iraqi currency after losing part or all of the country's main resource of the dollar. In fact, the Iraqi dinar may decline but to certain levels and not to low levels, as is the case with the Lebanese currency.

He pointed out: »The Iraqi dinar is a good store for purchasing power and is based on cash reserves in the central bank worth $ 60 billion, and then the reduction of imports and their immediate cessation except for necessities such as food and medicine, with central control and state control, and there is nothing wrong with declaring the state of economic emergency and punishing Speculators in the Iraqi dinar or the smuggling of the dollar or money laundering and fighting the formation of multiple exchange numbers and the black market for the currency, all these measures will prevent the Iraqi currency from slipping to low levels of value ».

Coronation called on the government to be cautious and hedging, pointing out the importance of the role of the central bank by adopting a rational monetary policy, and the fine of leaving a margin for currency movement for the purposes of secure monetary expansion, stressing: “The oil and financial crisis will not continue for a long period of time. On its effectiveness and continuing rational lending expansion, encouraging local production and expanding real production in Iraq as one of the alternatives for the importer, which will maintain the monetary cycle.

Twig noted that "One of the ways to support the Iraqi dinar is to invest human and material resources inside Iraq and turn the current situation into a strengthening factor for the Iraqi economy."

The Iraqi economy is a dollar economy and cannot afford any economic tremors ..

And Safwan Qusai, the expert in the economic affairs, did not differ greatly from his colleague Twij in his opinion, but he held the government the greatest responsibility in the collapse of the local currency, saying: “The financial and economic stability of Iraq depends on the ability of The Iraqi government is to remain in the balance zone between the American and Iranian conflict, so strict measures must be taken to comply with the requirements of the American treasury and spare Iraq to enter the US sanctions zone. Other than that, the Iraqi economy is a dollar economy and will not be able to bear any US sanctions.

Qusai stressed in a statement to / NINA: “Iraq can play a role in being a window to the Iranian economy by opening a joint account for humanitarian needs with the possibility of allowing the flow of goods purchased in the Iraqi dinar to benefit Iran, under the supervision of the supervisory authorities in the Central Bank of Iraq and integrity.”

He explained that «Iraq will not face the fate of Lebanon regarding the issue of currency collapse, because Iraq has resources and the Iraqi Central Bank has acceptable proportions that are able to cover the currency within the procedures even with oil revenues stopping for at least eight months to come.

He explained that "what happened in Lebanon is that individuals deposited foreign currencies in commercial banks, which in turn deposited them with the central bank, which paid these money debts to the Lebanese government," adding that "when the crisis occurred and individuals demanding their dues, the banks did not find liquidity and the Central Bank of Lebanon could not pay Receivables in dollars and facilitated the process of paying in Lebanese pounds, which led to raising the exchange rate of the dollar from 1500 pounds to more than 4 thousand Lebanese pounds.

It is noteworthy that the head of the Parliamentary Finance Committee Haitham al-Jubouri confirmed earlier that Iraq has been unable for some days to sell its oil because of the suspension of factories and companies around the world due to the repercussions of the Corona virus crisis.

The Finance Committee submitted a set of proposals to be taken in the face of the crisis of low oil prices, or to reduce its severity.

Member of the Parliamentary Finance Committee, Faisal Al-Issawi, said that "there are proposals submitted by the committee to overcome the crisis of low oil prices, in conjunction with the outbreak of the new Corona virus, and its impact on economic activities." He indicated that there are "several tracks that were presented, such as controlling border crossings, following up the great waste in oil refineries and how to benefit from the monetary block in banks and the central bank, and perhaps going towards international financial institutions to borrow."

He believed that "the current government will not be able to take a decision, or discuss the proposals, and it may be up to the new government."

Between the hammer and the anvil, the Iraqi citizen lives a state of anticipation and panic over the current situation and the fate of the dinar in the coming days.   link

Frank26 and KTFA Members Saturday AM 5-2-2020

Safe Travels to Frank and Tink, God Bless and Get Well soon.~The Recaps Team

KTFA:

Clare:  UPDATE FROM FRANK:

FAMILY, FRANK WANTS YOU ALL TO KNOW THAT, BECAUSE OF THE SIZE OF THE TUMOR THAT NEEDS TO BE REMOVED… IT WILL BE NECESSARY TO HAVE TWO SURGERIES…

FRANK IS REQUESTING, PLEASE, HOLD BACK ALL CALLS & TEXTS WITH REMEDIES & ADVICE, BECAUSE FRANK & THE DOCTORS HAVE A PLAN IN PLACE…

HOWEVER POUR OUT YOUR PRAYERS ON THE FORUM…THOSE PRAYERS ARE GREATLY APPRECIATED…THANKS & GOD BLESS YOU ALL.

Don961:  By the numbers: Abdul-Mahdi is preparing to hand Al-Kazemi a "financial disaster" before he leaves "Salam"!

2020-04-30

Yassin Iraq: Baghdad

Amid the promising political atmosphere facilitating the task of Prime Minister-designate Mustafa Al-Kazemi, coupled with a difficult climate on all economic, health and security levels in Iraq, resigned Prime Minister Adel Abdul-Mahdi is preparing to move to a "relaxation phase" and fold one of the worst Iraqi times.

And the Prime Minister-designate Mustafa Al-Kazimi is waiting for a number of difficult files, perhaps the most difficult and horrifying is the economic file amid the collapse of oil prices and the accumulation of debts and additional appointments that Abdul Mahdi burdened the budget as a patchwork solution to alleviate the demonstrations that killed more than 800 martyrs and more than two thousand wounded and injured.

Al-Kazimi should propose a draft budget law for 2020 after the end of about half of the current year, at a time when economist Abdul Mahdi did not propose any budget project since he was submitted to the position where the 2019 budget draft had been prepared by Haider al-Abadi.

Money available 20% of the required!

And the financial reality of Iraq indicates a sharp decline in revenues of only 20% of the total need for expenditures!

The oil expert, Essam Al-Chalabi, said in a clarification received for "Yass Iraq" that "Iraq's oil revenues in the year 2020, achieved for the month of January: $ 6.163 billion, while the month for February: $ 5,053 billion, and verified for the month of March: 2" $ 989 billion.

He added that "the expected for the month of April: 2 billion dollars, and the expected for the month of May: 1.125 billion dollars."

Chalabi stressed that "that compares this with the need for April salaries and pensions for each subsequent month: about $ 4.5 billion", while "the need for the full expenses required for the month of April and for each subsequent month is: about $ 7 billion !!!"

Chalabi pointed out that "the caretaker government is left only for days and a new government is assumed to assume its functions and there is not yet a certified budget for the year 2020 as no action has been taken to confront the crisis and it is not a regular crisis but a serious crisis that Iraq has never been exposed to," asking: " Who is responsible for this bitter reality? ”
Chalabi stressed that "responsibility for the decision or not to take a decision cannot be overlooked by the assumption of a new government for its tasks and the forgetting of the past.  link

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

Samson:  China begins experimenting with its new digital currency

09:24 - 02/05/2020
China will begin testing its new digital currency in four major cities starting next week, according to local media.

In recent months, the Chinese central bank has stepped up its development of the Renminbi electronic currency, which is set to be the world's first digital currency managed by a large economy. According to the British newspaper "The Guardian". The regions that will begin to test the digital currency are Shenzhen, Suzhou and Chengdu, as well as a new area south of Beijing and Cheungan, and those areas will host some of the events of the 2022 Winter Olympics in Beijing.

The China Daily, a government media agency, said the currency had been formally adopted in monetary systems in those cities, with some government and public officials receiving their salaries in digital currency as of May. The "Sina News" said the currency would be used to support transportation in Suzhou, but in Cheungan the experiment mainly focused on food and retail. According to some reports, international companies such as McDonald's and Starbucks agreed to be part of the experiment, but Starbucks denied this, according to the "Guardian."

On April 17, the National Currency Research Institute of the People's Bank of China, which is responsible for developing the system, said that research and development on the digital renminbi "is advancing steadily", and that the design is of a high standard. The progress in the digital currency was reportedly driven by Facebook's announcement in June of its intention to launch a single currency. The China Daily report said that the sovereign digital currency "provides a functional alternative to the dollar settlement system, and reduces the impact of any sanctions or threats of exclusion, whether at the state or company level."  LINK

Samson:  Lebanon signs a request for assistance from the International Monetary Fund

19:38 - 01/05/2020

A statement issued by the office of Lebanese Prime Minister Hassan Diab said on Friday that the government signed today a request for assistance from the International Monetary Fund.

The statement said: "This moment is a pivotal moment in the history of Lebanon, as we started the first step towards a real workshop to save Lebanon from the deep financial gap that is difficult to get out of without effective and effective assistance."

Beirut passed an economic rescue plan on Thursday and said it would form the basis for a request for aid from the fund.

Diab said in a press conference yesterday that Lebanon will use the plan to negotiate a program for the International Monetary Fund after it was approved by the Council of Ministers. Or five years.” Diab indicated that Lebanon seeks 10 billion dollars in foreign financial support. This is in addition to the $ 11 billion in funding pledged at a donors' conference in Paris in 2018 for infrastructure projects but subject to long-delayed reforms.

The crisis has caused economic difficulties on a scale that Lebanon has not seen before, even during its civil war, as Lebanon, burdened with one of the largest public debt burdens in the world, failed to pay off sovereign debts in March for the first time, and the government announced that hard currency reserves reached very low levels and became required To meet vital imports.

The lira has lost more than half its value and tricks between depositors and their savings since October when protests broke out across the country over political elites. LINK

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Samson:  Moody's lowers the outlook for Saudi Arabia from negative to negative

09:56 - 02/05/2020

Moody's Rating Agency changed the outlook for Saudi Arabia's rating to negative and confirms its rating at A1.

The agency said: The negative outlook reflects the growing downward risks of Saudi Arabia's financial strength, as a result of a severe shock at the level of global oil demand. The negative outlook also reflects the growing downward risks of the Saudi financial strength, as a result of the price changes caused by the Corona virus pandemic.

The agency changed the outlook for the Saudi government’s ranking, from stable to negative. She said that the sharp shock of oil prices, will cause an increase in debts and erosion of the sovereign financial fenders of the Saudi government. The agency confirmed its Saudi rankings at A1 supported by the government's balance sheet, which is still relatively strong despite a decline, indicating that the Saudi government will likely offset some of the revenue losses this year and in 2021 through cuts in spending.

The agency expected government revenues to drop by about 33% in 2020 and about 25% in 2021 compared to 2019, indicating that a sharp slowdown in GDP growth will also reduce revenues from the non-oil sector. The agency also expected the Saudi government’s debt to rise to about 45% of GDP in the medium term, suggesting that spending on the health sector will be absorbed in relation to containing the Corona pandemic by reducing expenditures.

The agency stressed that Saudi Arabia's balance sheet has weakened since the last shock in oil prices in 2015 and 2016, despite some recent improvement in budget implementation. LINK

Purifiers:  SPECIAL POST FOR OUR FAMILY...
.
IN DEDICATION... TO FRANK26 AND THOSE TEAMS THAT HAVE SHARED... WITH US... ALL...... THRU FRANK...
.
FIRST.... THE UNITED STATES NAVY BAND

AND THEN... Israel "IZ"
.
"Somewhere Over the Rainbow/What a Wonderful World"

https://youtu.be/zxlNxehADKQ?t=1

https://youtu.be/V1bFr2SWP1I?t=6

Frank26 Video "REER" and more Wednesday Evening 4-29-2020

KTFA:

Real Effective Exchange Rate – REER Definition

What Is the Real Effective Exchange Rate – REER?

The real effective exchange rate (REER) is the weighted average of a country's currency in relation to an index or basket of other major currencies. The weights are determined by comparing the relative trade balance of a country's currency against each country within the index.

This exchange rate is used to determine an individual country's currency value relative to the other major currencies in the index.

Key Takeaways

The real effective exchange rate (REER) compares a nation's currency value against the weighted average of a basket of other major currencies.

Countries with the largest trading relationships would typically have the largest weightings in this comparative index, while countries with small trading relationships would have smaller weightings in the basket of currencies.

REER is used to evaluate how a currency is fluctuating against many others at once, and is also used in international trade assessments.

https://www.investopedia.com/terms/r/reer.asp

Frank26:   4-29-20 .....REER

This video is in Frank’s opinion

https://www.youtube.com/watch?v=ZnTquuArT5U

Dan:  VietNam deserves this to have their currency increase in value.

VietNam has been growing & doing well for a long time.

The pretext for war with VietNam was a false flag operation in the Bay of Tonkin.

Would be a humiliating slap to Iraq if VND went first

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

Don961:  An economist devises a set of solutions to the financial crisis

Wednesday 29th April 2020 - 12:16

Baghdad - conscious - Muhammad Talibi

Economist Alaa Al-Fahd presented a set of solutions to get out of the financial crisis

Al-Fahd said to the Iraqi News Agency (conscious), "The large financial deficit as a result of the Corona epidemic, which is causing the decline in oil prices, needs to activate alternative revenues, especially as they constitute 7% of the volume of revenue."

He stressed the necessity of relying on the leading sectors, among them the agricultural sector, to achieve food security, and after its development it would be a source for the industrial sector by using it as a raw material in industries, in addition to operating the labor force and thus achieving high revenues at this stage.

He added, "The border ports and activating the customs revenues can be an alternative solution to the crisis," noting that "the revenues of the ports were wasted as a result of administrative corruption and poor measures taken."

He continued, "Engaging the private sector with other sectors can reduce spending and waste in the public budget, in addition to reconsidering the numbers of employees working in the government sector and their salaries and allocations."

Al-Fahd ruled out "the possibility of resorting to printing currency", stating that "it is up to monetary policy, which cannot be directed by issuing a cash in excess of the need, as the existing monetary mass is estimated at about 60 trillion dinars, offset by a cash balance of the dollar that is a reserve in the central bank to maintain On the value of the Iraqi dinar. "

He stated that "any monetary issuance without a financial cover will cause a financial problem that will reduce the monetary value of the dinar and lead to higher prices for goods and materials in the local markets."    LINK

Don961:  Deputy: All officials must be covered by the “Where did you get this law from?” Nassif reveals to “Al-Zawra” that one of the officials owns a full street in a European country

April 30, 2020 12:05 AM 

 Baghdad / Laith Jawad:

Deputy Alia Nassif demanded the necessity of activating the law, “Where do you get this?” To follow up the influx of the wealth of some officials and political parties, defining the way in which they can escape punishment, and while it revealed that one of the officials has now owned an entire street in Belarus, Rep. Rebwar Taha stressed the importance of this principle encompassing all officials and not only the young ones.

Nassif said in an interview with Al-Zawraa: The activation of a principle from where you will enable the judiciary to hold officials accountable in case their wealth is enlarged in addition to concluding bilateral international agreements with some countries to follow the balances of Iraqi officials in them, indicating that most of the officials who steal public money register their money In banks outside the country, investing them in those countries, or registering their names with their relatives, such as their daughters ’wives or siblings of their marriage, which protects them from legal prosecution, since the law holds accountable first-to-fourth relatives and these are outside the legal frameworks.

Nassif added: Most of the funds and investments of Iraqi officials are in Amman, Abu Dhabi and Belarus, as one of the officials has owned an entire street in Belarus, explaining that political parties are also accused of stealing public money and have financial assets at home and abroad due to the lack of a legal text that follows and is held accountable. Others in the event of an abnormal wealth of their wealth.

Nassif stressed: If we want to activate this principle, it is assumed that there will be a legal law by Parliament and proposed by the government and not just calls or campaigns launched from here and there.

As for Representative Repoir Taha, he said in an interview with “Al-Zawra”: The principle of “Where did you get this?” Is supposed to include all officials from 2003 until now without any exception, and that the corrupt be brought to justice and receive his fair penalty for stealing public money, noting that Many senior officials in past and present governments are involved in corruption in, so this principle should not be focused on only junior employees.

Taha stressed that many officials and the great whales that stole the country are still present in the government or the political process.  LINK

Mon. Night KTFA CC Replay and more Tuesday PM 4-28-2020

KTFA:

Samson:  Al-Rafidain: Many employees received their salaries for the month of April from the bank’s branches

28th April, 2020

Al-Rafidain Bank announced that many state departments employees received their salaries from the bank's branches located in Baghdad and the provinces.

The bank’s media office said in a statement that Mawazine News received a copy of it. He pointed out, "The distribution of the salaries of state employees will be according to specific timelines for each department."

The statement indicated that "the employee or retired person has the freedom to choose to receive his salary from anywhere he is with an electronic card."  LINK

Samson:  Al-Kiddo: The government has its tools to get out of the financial crisis

08:41 - 04/28/2020

Member of the Parliamentary Finance Committee, Haneen Al-Qaddo, affirmed on Tuesday that the government has its tools to get out of the current financial crisis, pointing out that tackling the situation needs to put government bonds to the people, exploiting the revenue of border ports, borrowing, and handing over the region its sums of money to Baghdad.

Al-Kiddu said in a statement to "Information", that "the remedies of the financial crisis that the country is going through depend on the government's actions and procedures, as it is the body responsible for paying the salaries of employees and retirees."

He added, "The solutions are contingent on addressing the 2020 budget and the changes that will be introduced in line with the current situation."

and stated that "the government can deal with the financial crisis by moving towards government bonds and selling them to the people, as well as borrowing from the central bank and other banks, as well as asking the region to hand over the sums it has entrusted, in addition to exploiting the revenues of the border outlets to address the current crisis."   LINK

Iobey777:  Hmmm.. IDK...  oh yeah! sell them "worthless" bonds for a worthless country that is broke!( nor at the very least has stupid leaders who cannot do the right thing for their country!)  Yes, getting rid of Duplicate salaries would be great!! Stop paying those who are NOT doing their jobs to start with!..looks to me like they are scrounging around looking for ANY loophole they can find to get money, instead of addressing the REAL need of the country... a NEW EXCHANGE RATE!!  Which would solve MOST of their problems, but they would still need leaders who are not content to steal every dime they can from their citizens! IMO, of course!

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Monday Night CC with Frank and Delta

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Clare:  THANKS SO MUCH FRANK, WALKINGSTICK, DELTA, AG, & TEAMS! ...FANTASTIC CC!!
WOW.. THIS REALLY IS EXCITING NOW! ... LOVED THE DONG INFO TOO! IMO

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Samson:  A press release issued by the Board of Governors of Central Banks and Arab Monetary Institutions

28th April, 2020

A press release issued by the Board of Governors of Central Banks and Arab Monetary

Institutions (Arab Day for Financial Inclusion April 27, 2020 under the slogan:

  Towards Building a Community Financial Culture that Promotes Financial Inclusion' )

For information click here

Council of Arab Central Banks and Monetary Authorities' Governors Arab Financial Inclusion day - April 27, 2020 Under the Theme of "Towards Building Financial Literacy that promotes Financial Inclusion”

 The Council stresses that the implications of the emerging corona virus highlight the importance of accelerating the transition to digital financial services and enhancing awareness about it

 The Council calls in this context for the following:

Alignment with the priorities of the Group of Twenty (G20)

Promoting digital financial inclusion for young people, women and MSMEs

Encouraging the use of the latest technologies to boost financial inclusion

Spread the digital financial literacy to all segments of community

The Council of Arab Central Banks and Monetary Authorities Governors attaches extreme importance to enhancing access to finance and other financial services in the Arab countries. This focus comes from recognition by the Council of the potential and great opportunities that can be achieved by enhancing financial inclusion to bolster comprehensive and sustainable economic development, assist in addressing unemployment and underemployment challenges and achieving social justice.

There is no doubt that the current developments and the repercussions of the spread of the "Corona emerging" virus, clearly highlighted the great importance of financial inclusion and the need to promote applications of digital financial services, and to educate and educate users of these services.

In this context, the Council of Arab Central Banks and Monetary Authorities’ Governors, in light of the growing need to sensitise all Arab actors to the importance of financial inclusion, endorsed in 2016 the 27th of April as the Arab Day for Financial Inclusion, celebrated this year under the theme of “Towards Building Financial Literacy that promotes Financial Inclusion.”

On this occasion, the Council affirms its support for the international community in enhancing financial inclusion, especially the efforts made by the G20 under the presidency of the Kingdom of Saudi Arabia (KSA). The financial inclusion topic was adopted by the G20 as one of the main aspects of the economic and financial development program, especially as it is closely related to achieving the objectives of sustainable development.

The Council also reaffirms its support for the efforts and priorities of KSA in enhancing digital financial inclusion during its presidency of the G20. The Group pays special attention to supporting the access by young people, women and micro, small and medium enterprises (MSMEs) to financial services by tapping into the latest technologies, as well as awareness-raising and community education efforts which increase the chances of success of Arab countries' efforts and policies in this regard.

The Council also attaches importance to financial inclusion issues in the Arab world through its approach to launch a number of different activities and initiatives in cooperation with regional and international organisations.

The Council welcomed the launch of the Financial Inclusion for the Arab Region Initiative (FIARI) by the Arab Monetary Fund in cooperation with several regional and international organisations. FIARI aims to empower and enhance capacities and capabilities to overcome the obstacles hindering the advancement of financial inclusion indicators in the Arab countries. In this regard, the Council values the comprehensive model of demand side surveys which detect the trends of demand on financial services in the Arab countries for both households and MSMEs.

In view of that, the Council invites all Arab counties to put this model into force to help improve financial inclusion indicators and adopt appropriate policies and strategies in this respect. The Council also calls on FIARI’s partners’ organisations to further support the utilisation of new technologies in providing individuals, and MSMEs with access to financial services.

The Council further values the actions taken by the Arab countries to promote financial literacy, especially the digital financial literacy. It reaffirms the need to integrate all segments of society into the formal financial system, especially young people, women, entrepreneurs and the MSMEs sector. To this end, it is necessary to raise the awareness of those segments, protect their rights and improve their knowledge of financial issues so that they can make sound investment decisions. The Council also calls on all ministries of education, culture and higher education in the Arab countries to double their efforts in order to expand and increase financial education and awareness.

The Council highlights the increasing importance of using new financial technologies in financial and banking sectors, and the significant accelerated growth witnessed by the financial services sector of such technologies and their related services world-wide. In addition, the great potentials offered by these technologies and services in terms of enhancing the efficiency of financial and banking operations, particularly in supporting the opportunities to access finance and financial services and encouraging entrepreneurship. In this connection, the Council calls for raising the awareness of all segments of society about the topics of modern financial technologies and taking the necessary measures to achieve this in coordination with the relevant official authorities.

It also stresses the importance of the Regional Taskforce on Modern Financial Technologies launched by Arab Monetary Fund in sharing expertise and knowledge about modern financial technologies and crystallising different visions on the best way to regulate and put such technologies into effect in the Arab countries.

On the other hand, the Council values the role played by the Financial Inclusion Taskforce in enhancing financial inclusion in the Arab countries.

This role is clear in developing policies and procedures related to financial inclusion in the Arab countries and considering studying ways to improve financial inclusion indicators in the Arab countries and help them implement the relevant international standards and principles. The role of the taskforce is also to strengthen cooperation between the various national institutions and entities concerned with financial inclusion issues in the Arab countries and the relevant international organisations.

Furthermore, the Council looks forward to pursuing the improvement in financial inclusion indicators in the Arab countries, especially as the latest statistics reflect the efforts made by the Arab countries in enhancing access to financial services. Figures indicate that the percentage of the adult population in the Arab countries who have access to formal finance and financial services has risen, on average, to 37%, and soared to 265 for women, and to 28% among low-income segments.

Although these figures draw a veil over the disparities in this regard among the Arab countries, they still indicate the great potential opportunities – especially for private financial and banking institutions – that can be tapped into to enhance access to financial services in the Arab communities.

Likewise, the Council values the efforts exerted by Arab central banks and monetary authorities, and commercial banks and official financial institutions in the past years in marking the Arab Day for Financial Inclusion and their related activities and events on this day. These efforts have contributed to spreading awareness and financial education among all members of the community.

Accordingly, the Council calls on all member states to celebrate the Arab Day of Financial Inclusion and encourage community participation (virtually) in marking the day through the implementation of awareness-raising activities and events to promote the importance of financial inclusion and its objectives. The Council hopes that the planned events of the Arab Day of Financial Inclusion will be successful, and their desired objectives are achieved.

On this occasion, the Director General Chairman of the Board of the Arab Monetary Fund, H.E. Dr. Abdulrahman Al-Hamidy, stressed the importance and the vital role of financial inclusion in addressing the economic challenges affecting growth. He added that this goal would be attainable by mobilising resources to maximise investment rates and create new job opportunities. Dr. Al-Hamidy also praised the growing interest of policymakers in Arab countries on financial inclusion related issues, and this would assist in addressing the challenges of poverty, unemployment and social development. He then referred to the continued efforts made by Arab central banks and monetary authorities and the great interest in the issues of improving financial inclusion and access to quality financial services at reasonable costs.

Dr. Al-Hamidy also lauded them for giving appropriate importance and priority to such matters as part of their economic policies and spreading the literacy of responsible financing in the banking sector. Moreover, he referred to their utilisation of financial technologies in providing financial services, developing legislation, rules and regulatory frameworks that help improving the spread of financial and banking services and encouraging innovation in the industry.

They also aim to follow up the endeavours made to develop a sound financial and banking system infrastructure and encourage the development and expansion of non-banking financial services, as well as policies and programs that enhance transparency in the financial and banking sector.    link

https://cbi.iq/news/view/1477

Samson:  Mr. Governor’s speech on the occasion of the Arab Financial Inclusion Day, 27 April 2020

28th April, 2020

Arab Day for Financial Inclusion April 27, 2020

Under the slogan

Towards building a community financial culture that promotes financial inclusion

We celebrate this day on the occasion of the Arab Day for Financial Inclusion, which falls on April 27 each year and under the slogan towards building a community financial culture that promotes financial inclusion. 

Financial inclusion has a significant positive impact in spreading financial culture and the spread of financial and banking services. The Central Bank has developed plans and strategies that contribute to raising awareness and financial education in order to achieve knowledge of financial and banking services and create an economically and financially informed generation and has the ability to plan and manage its financial life properly. 

Especially in light of the tremendous and rapid development in the field of modern financial technologies, which is the best solution to face the Corona virus crisis, as it enables beneficiaries to conduct financial and banking operations remotely and reduces the use of banknotes that are considered a carrier of the virus, and the Central Bank seeks to apply these technologies and integrate society segments Different according to their need for it, with a focus on developing legislations and supervisory and supervisory frameworks in a way that achieves the spread of financial services and protecting the consumers of these services. 

To transfer and provide applications by banks and payment service providers that enable customers to have easy access to financial and banking services. Online purchase.

The Central Bank of Iraq

information Office

4/28/2020

https://cbi.iq/news/view/1476

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Samson:  Lebanon's developments .. Burning banks to deteriorate living and the collapse of the currency

04/28/2020 16:01:33

Protesters, on Tuesday, burned banks in Tripoli, northern Lebanon, in protest against the deteriorating living conditions and the collapse of the Lebanese pound.

Reports said that protesters had destroyed the façades of the banks in Tripoli, while others had set them on fire. Currently, firefighting teams are trying to control fires in some banks. She explained that this development comes in the wake of the return of protests to the Lebanese cities due to the collapse of the lira.

Hundreds of people demonstrated in the city of Tripoli, on Monday night, against the backdrop of the deteriorating economic situation in the country, in protests interspersed with clashes with security forces despite the isolation measures imposed to contain the emerging Corona virus. A group of men, women and children participated in a march that roamed the streets of the city, calling "a revolution .. a revolution", while the demonstrators tried to reach a house of a lawmaker, but the army forces prevented them, which led to confrontations, according to "AFP."

Following these developments, the Lebanese Association of Banks announced the closure of all headquarters and branches of banks in the city of Tripoli in northern Lebanon , starting from today until the restoration of the security situation.    LIN