Frank26 and Delta Video Tuesday Night 10-27-2020

KTFA:

Frank26:  10-27-20......THE IMF CONTRACT

Frank reviews article posted below  “A "knockout" blow to the Iraqi dinar: currency printing in exchange for the end of the financial crisis ... What will Iraq do about "international conditions"?”

This video is in Frank’s opinion only

Frank26:  This article is why we are having this CC tonight…….I want to explain to you what happened today

The translation is not correct….in reality the Iraqi dinar is being “knocked out” into the International Community under the supervision of the IMF and the Fab 4.

So according to this article….the rate has already been raised and it is being offered on the “Global Stock Exchanges”

FAB4 - IMF / WORLD BANK / UST / DJT

They will not Lop….they are adding value to their currency. And going international.

IMO they are about to show the Iraqi dinar new currency (LD’s) to the Iraqi citizens and the new exchange rate.

Also a video from Delta (THE RECORDING IS ALL IN DELTA'S OPINION_

FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

GREEN IS FOR GREEN ZONE TONIGHT FRANK SAID

https://www.youtube.com/watch?v=vb-jRpRo0T8&feature=youtu.be

DELTA:  THANK YOU BROTHER DON FOR THE AMAZING WORK...........VERY CRYSTAL CLEAR FAMILY LIKE WE SAID ALL THE TIME.......IMF AKA USA..CONTROL THE EXCHANGE RATE OF IRAQ.......NO DEVALUE PERIOD.....RV ALL THE WAY......

Don961:  A "knockout" blow to the Iraqi dinar: currency printing in exchange for the end of the financial crisis ... What will Iraq do about "international conditions"?

2020-10-27  Yes Iraq - Baghdad

The expert in economic affairs, Salam Sumaisem, confirmed that the devaluation of the Iraqi dinar will reflect negatively on the citizen and will lead to an inflationary problem as a result of a new force hitting the Iraqi economy at home as a result of the high prices of consumer foodstuffs that are in demand and this great demand will lead to higher prices.

Sumaisem said, in statements to her, monitored by "Yes Iraq": "The government is facing a great challenge, which is to provide funds with which to pay public expenditures, and this money is necessary to provide it. Reducing the value of the dinar will provide it with that, but on the other hand it will generate inflationary pressure on the citizens, since the devaluation of the dinar will be "This will lead to a rise in the prices of consumer foodstuffs that are in demand, and this great demand will lead to a rise in prices and an inflationary problem as a result of a new force hitting the Iraqi economy at home."

She explained that “the government is obligated to this reduction, and these changes will be in light of the state’s need for financial resources and the increasing need to pay the salaries of employees. At the same time, an austerity plan must follow that reduces the waste of the dinar and try to find a feasible way of spending so that the situation is not lost in a situation with this laxity in paying salaries.” “.

The economic expert stressed the need to eliminate the leakage outlets represented by the aliens, the multi-salary, the mafias and the networks of corruption, stressing that without that any reform or reduction will not succeed.

 >>>>>>>>>>>>

salam smeasim @SalamSmeasim

Translated from Arabic by

I do not expect it to be #العراق By printing the Iraqi currency #بدون_غطاء Because it would be a fatal blow to the #دينارالعراقي And this is unacceptable according to our links to #صندوق_النقد_الدولي And Lan #الدينار_العراقي Now within the currencies offered on the global stock exchanges, not like the time of the blockade, the situation is completely different.
>>>>>>>>>>>>

 Sumaisem suggested, in her blog post about currency printing, saying: In light of the current economic variables, I do not expect Iraq to print the Iraqi currency without a cover, because the matter will be a fatal blow to the Iraqi dinar.

And I concluded, that this is unacceptable according to our links with the International Monetary Fund and because the Iraqi dinar is now among the currencies offered on the global stock exchanges, not like the time of the siege and the world's boycott of the Iraqi government, the situation is completely different.   link

BlaqueBeauty:  oooh so the dinar is in the basket with other currencies…thank you

Iobey777:  This article is Confirming they are INTERNATIONAL!!! IMO!!

Monday Night KTFA CC with Frank26 and Team 10-26-2020

KTFA:

KTFA MONDAY NIGHT CC YOUTUBE WITH THE IQD UPDATE

Frank26 and Team

720.716.7300 PIN: 156996#

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Frank26:  10-26-20....SEE YOU ON THE OTHER SIDE

https://www.youtube.com/watch?v=z-9lvUlex24&feature=youtu.be

Samson:  Experts: Delay In Distributing Employees' Salaries Has Affected The Overall Economic Movement

26th October, 2020

Economic affairs specialists warned of the risks of continuing delays in the distribution of salaries of employees and retirees, and those covered by the social protection network, stressing that this matter cast a shadow over the overall economic movement in Iraq, and contributed significantly to a downturn that could lead to more economic losses, especially In the private sector.

The debate raged recently between the legislative and executive authorities regarding the mechanism for securing employees' salaries, as the government threw the ball into Parliament's goal, when it required it to pass a borrowing law in order to be able to distribute salaries, while the House of Representatives believes that the financial deficit results from the failure to find financing outlets for the budget other than revenues. Oil.

Catastrophic effects

The economist, Bassem Jamil Antoine, said during his interview with Al-Sabah newspaper that “the resulting delay in distributing the salaries of about 4.5 million employees, 2.5 million retirees, in addition to more than one million covered by the social protection network, will leave a“ catastrophic effect.  On the economic movement in Iraq, especially since these have become the main engine of the Iraqi market, and that monthly salaries are the factor on which the market movement is built entirely.

Antoine points out that “the private sector has become a major part of the salary movement, and that the continuity of its work and the continuation of its activity are closely linked with the distribution of those salaries among those who deserve it, as well as the rest of the sectors, which form an integrated link with what employees and retirees receive, which caused the occurrence of a serious recession in various sectors caused by the delay in distributing these receivables.

Financial benefits

The economic expert states, “The employees have financial dues payable to many other parties, such as loans, rents, or electricity wages and the rest of the services, which the employee is forced to pay at the beginning of each month, which has left major negative effects on this segment, due to the lack of Paying those dues due to delay in distributing salaries, and thus employees incurring cumulative financial burdens.

Antoine warns, that “the continuation of this situation will turn the state into a consumer, and leave serious social consequences, which could lead to a setback in education, health, and various fields,” noting that “the solutions to overcome this crisis lie in heading towards the White Paper decisions, represented in reducing Reliance on oil imports, reducing imports, activating the various local productive sectors, and working to end unemployment and eradicate poverty.

Spending shrinkage

The economic expert, Dr. Salama Sumaisem, did not deviate from the previous opinion, when she confirmed that there had been a rise in the prices of foodstuffs, matched by a contraction in the tunnels due to the delay in the distribution of salaries. In a statement to Al-Sabah newspaper, Sumaisem pointed out that “the wages and salaries of state employees and retirees constitute the basis for moving the forces of demand within society,” stressing that “this demand is not normal, but rather is directed to consumer goods, specifically food, and therefore the existence of this" Demand is sufficient to move the economy towards more efficiency, whether in the areas of production or import." And she points out that when the wheel of the economy begins to stop, the authorities initiate this demand, and not the other way around, as moving the demand saves the country from the state of recession and stagnation it reaches.  LINK

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Samson:  The International Monetary Expects Iraq’s Budget Deficit Of 22%

26th October, 2020

The International Monetary Fund expected, on Monday, that Iraq's budget deficit would reach 22% of GDP

"The economy may contract by up to 10%," the Fund said in a report seen by "Al-Ektissad News", expecting that "Iraq's budget deficit will reach 22% of GDP

The fund added that "the deficit is the worst in the Middle East and North Africa

And the World Bank expected in a previous report that "the Iraqi GDP per capita will drop to 4282 dollars, the lowest level since 2006   LINK

Samson: Financial Committee: The government needs 20 trillion dinars, not 40

26th October, 2020

The Parliamentary Finance Committee confirmed, on Monday, that the sums requested by the federal government in the draft law on financing the fiscal deficit are very large.

A member of the committee, Representative Jamal Cougar, said, "The federal government has requested approval to borrow 40 trillion dinars to finance the fiscal deficit, and this amount is very large." He added: "We in the Finance Committee see that the government needs an amount of 20 trillion dinars, not 40, because the expenditures need 7 trillion per month, and if we add these sums for four months, they will be 28 trillion dinars."

He added, "If we add 5 trillion to the licensing rounds, another half trillion for the government, and a trillion dinars allocations for the Kurdistan region, the amount will be 24 and a half trillion, to be 36 trillion." He said, "The government's imports for the remaining four months of this year will be 16 trillion dinars, so it needs approval to borrow 20 trillion dinars only, not 40".

He explained, "We told the government that we will review the law and discussed this issue in the Finance Committee, and we came to the conclusion that the sums in the draft law on financing the financial wage are very large, and we also decided to host the Minister of Finance to discuss this issue." He pointed out that "the Finance Committee believes that the government needs 20 trillion dinars only, not 40, and if the amount is more than 20 trillion, then these loans will burden the government." LINK

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Samson: Oil Minister: Thousands of jobs are waiting for the Iraqis to work on mega projects

26th October, 2020

Oil Minister Ihssan Abdul-Jabbar confirmed, today, Monday, that recent agreements and understandings with international companies could lead to an increase in work space and production and attract foreign investment in Iraq, which leads to the creation of thousands of job opportunities for Iraqis.

 Abdul-Jabbar said, in a press statement followed by (Baghdad Today), that “the recent understandings and agreements with sober international companies could lead to an increase in the area of ​​work and production and attract foreign investment in Iraq,” indicating that it is “one of the important signs of moving the Iraqi economy to a stage. New, by employing these investments in the advancement of national industries related to oil and energy according to the latest methods, systems, economic mechanisms and modern technologies.

He added, “These steps will lead to the revitalization of all related sectors, especially the free and associated gas investment projects, petrochemical industries, clean and alternative energy, as well as providing thousands of job opportunities for Iraqis.”

 Regarding the recent European round, the Minister of Oil pointed out that “the meetings that brought us together with international companies and investors, especially BP, aim to increase the working area in the Ramila field, diversify and increase the volume of investments and accelerate the associated gas investment projects, as is the case with Exxon Mobil and ENI companies, And Kazprom and others, which also want to increase the volume of cooperation and investment in other projects, as well as to communicate with important consultations with “Total of France” about investment in gas sector projects. 

He pointed out that “the ministry is working on building and strengthening strategic relationships with solid countries and companies that possess financial capacity and modern technology that contribute to building the national industry and enhance its economic and development capabilities.”   LINK

Frank26, MilitiaMan and KTFA Members Friday PM 10-23-2020

KTFA:

HBHockeyDad:  Hi MM. Is there any word on the citizens going into the banks to be shown the nscn by chance?  As franky indicated on the Monday night cc?  Ty sir  

MilitiaMan:  My understanding if correct, it is being said, "banks of late have been working long hours this week and suggest that there were banks open today." I personally have not spoken to anyone, but, a trusted source of mine has been in contact related to a citizen in Iraq suggests today that to be the case. I mentioned it to Delta and he may also try and verify that. So we shall see. I do believe that the source my data comes from has credibility. imo ~ MM

Stevep99:  I have a question for Milita Man or someone with a good memory. Seems like in the past there was talk of something to effect that financial activity taking place along the lines starting in London, because of London being a center? I do recall Frank speaking of London and a another country in the east being financial centers critical to electronic or digital activity! Maybe that is why this is being wrapped up in UK. Anyone?  

MilitiaMan: London is becoming the largest financial center of the world, just behind New York..

Fairly sure the connection to the UK is that is a powerful financial hub, was connected directly in the past to the county, as they sieged power over Iraq in about 1917 - 1932 when they got independence , of recent they have the IBBC and close to both France and Germany.

The three will have reconstruction and other investments in mind. Kahdimi is on a tare. Getting many things sorted while gone and even stayed a couple extra days.. It all looks like he it it out of the park.

 5,000 artifacts are to be returned home. That is very important and symbolic. The Glory Days.. Just want they want to get back to.. Lets not forget that those in the war effort have Dinar..

The UK has plenty.  Whereby, the implications are they cut some deals.. imo  ~ MM

"London is catching up with New York as the world's biggest financial center, and the British capital only needs four more points to beat New York, according to a survey released on Friday. ... New York still ranked first, followed by London, Shanghai, Tokyo, Hong Kong and Singapore." As of Sep 25th, 2020

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Will:  as far as forex is concerned London trades more than double of what New York does.  

MilitiaMan:  Good to know and thank you for the information. May be even more bullish for us than I thought, in that respect currency wise!! imo ~ MM

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Samson:  The formation of an international financial alliance to support Iraq in Britain

22nd October, 2020

Today in London, I announced the establishment of an international financial coalition that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to face the stifling financial crisis that led to the state’s inability to commit to paying employees’ salaries on time and resort to internal and external borrowing

According to the British Foreign Office, the financial alliance will be called the "Economic Contact Group" and its goal is to stimulate international support for an urgent economic reform program that will last for 3 years and cost 6 million pounds

According to the statement of the British Foreign Office, which was reviewed by "Economy News", the financial alliance provides global expertise to achieve economic growth and provide international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes in order to push the wheel of growth

The International Financial Alliance to support Iraq includes the G7 countries, which are "America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee

After the first meeting of the financial alliance, he issued a statement saying, "Iraq is facing daunting economic challenges that have been broadly overshadowed by two crises, the Corona virus crisis and the decline in oil prices

He stressed, "There is a need to take immediate measures to achieve stability in the economy and create a comprehensive economic environment suitable for the implementation of the reform, as the members of the Economic Contact Group for Iraq agreed to work with the Iraqi government to put an out-of-way way to set the sequence and priorities of reforms in addition to mobilizing international support to implement these reforms

He noted that the Iraq Economic Contact Group will hold its meetings every three months to monitor progress, manage risks and coordinate support effectively, and this includes two annual meetings on the sidelines of the Spring Meetings and the Annual Meetings of the World Bank

She added, "It supports the Iraqi government's vision of reform, not only to ward off current crises, but to create permanent economic opportunities for the Iraqi people that meet their aspirations

Meanwhile, Finance Minister Ali Allawi said that the white paper received absolute support from industrialized countries and international organizations for the first time , indicating that international support and welcoming the white paper is an achievement of the Ministry of Finance

He added, "The international organizations saw that Iraq faces daunting economic challenges overshadowed by the crisis of Corona and the decline in oil prices, and that the White Paper is an ambitious program for comprehensive economic reform, strengthening the growth of the private economy and protecting the most vulnerable groups

He pointed out that the industrialized countries and international organizations announced their support for the Iraqi government's vision of reform not only to ward off the current crises, but to create permanent economic opportunities for the Iraqi people that meet their aspirations     LINK

Samson:  The Bank, the World Fund and the Group of Seven declare their support for the White Paper

10/22/2020 21:21:03

The Bank, the World Fund and the Group of Seven announced their support for the White Paper.

The Deputy Prime Minister and Minister of Finance participated in the first meeting of the Economic Contact Group for Iraq, which was hosted by the British Minister of State for Middle East and North Africa Affairs and  chaired the meeting, Iraq and the World Bank, with the participation of members of the Finance Committee in the Iraqi Parliament, and representatives of the G7 member states and the International Monetary Fund.

The participants expressed their support for the recently adopted economic reform white paper.

The Deputy Prime Minister and Minister of Finance expressed his appreciation to the United Kingdom for hosting the meeting, and presented a summary of the objectives of the White Paper for economic reform and stressed that supporting the Economic Contact Group will enhance Iraq's ability to face the challenges of the next stage.  LINK

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Samson:  Washington looks to support an ambitious reform agenda that promotes a strong economy for Iraq

10/22/2020 23:21:47

  The US embassy in Baghdad published, on Thursday evening, a tweet about Washington’s participation in the launch of the Economic Contact Group on Iraq.

"The United States was pleased to participate in launching the Iraq Economic Contact Group with Finance Minister Ali Allawi," the embassy said in its tweet on Twitter. 

"We look forward to supporting an ambitious reform agenda to work to promote a strong economy for the Iraqi people," she added.   LINK

MilitiaMan:  Let those two words resonate. They support now (immediately) not in 2021. The new rate will be applied to the 2021 sure, but, not until after they make the change imo in 2020.. The budget needs the rate. The rate doesn't need the budget.. IT needs the CBI to talk to us.. lol ~ MM

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Frank26:  10-23-20.........#.9

This video is in Frank’s opinion

https://www.youtube.com/watch?v=iXsr4J-t080

Frank26 Video Replay and Iraqi News Tuesday 10-20-2020

KTFA:

Samson:  A representative source confirms the resumption of parliamentary sessions tomorrow, Wednesday

20th October, 2020

Today, Tuesday, a parliamentary source revealed that Parliament sessions will likely resume tomorrow, Wednesday.

The source explained during his speech to Tigris, that the borrowing bill that the government previously submitted to Parliament, as well as the election law, will be at the forefront of Parliament's agenda during the upcoming sessions.

He stressed that resolving and completing the two laws is a priority in the current period. Meanwhile, another parliamentary source revealed that there is a tendency within the House of Representatives to amend some of what was mentioned in the second borrowing bill before it is passed, explaining that the amendments may include the ceiling of internal borrowing and reducing unnecessary expenditures, in an effort to reduce the damages resulting from resorting to borrowing to fill the deficit and secure Payroll bill.

With regard to the differences over the electoral districts, a source confirmed that the blocs had not reached a consensus formula yet, ruling out the election law being resolved during the next few sessions.  LINK

Monday Night CC Replay   

WALKINGSTICK, DELTA, MM & PETRA!!

https://fccdl.in/9ZOSz81XrS

https://youtu.be/KIw1hWeJ888?t=1

Samson:  Parliamentary Finance: An investigation was opened regarding the payment of September salaries, and doubts about printing other currencies

18:37 - 19/10/2020

The Parliamentary Finance Committee announced, on Monday, that an investigation has been opened to ensure that the government has secured the salaries of September, despite the Parliament's lack of approval for the loan presented, indicating that its insurance is subject to doubts between withdrawing from the central reserve and printing other currencies.

A member of the Finance Committee, Mahasin Hamdoun, told Al-Maalouma that "the government has submitted a second request to Parliament to borrow to secure salaries for the coming months."

And she added that "in the event that the request for borrowing is not approved, the government may announce that salaries will not be disbursed and that the House of Representatives hold the reason for not disbursing salaries," noting that "the government is evading and creating crises and throwing them into the House of Representatives."

Hamdoun explained that "the committee intends to open an investigation that the government will spend the salaries of employees despite the Parliament's failure to approve borrowing," noting that the matter indicates the existence of money and the existence of the financial crisis.

She pointed out that "indicators show that" securing them was done either by borrowing from the Central Bank of Iraq or by printing additional currencies."   LINK

Samson:  Al-Kazemi concludes his visit to Paris and heads to Berlin

19th October, 2020

On Monday, Iraqi Prime Minister Mustafa Al-Kazemi concluded a 24-hour official visit to France and went to Germany on his second leg of his European tour.

Iraqi government spokesman Ahmed Mulla Talal said in a tweet on Twitter, that "during a fruitful 24 hours in Paris, Prime Minister Mustafa Al-Kazemi met with French President Emmanuel Macron, and he held meetings with the accompanying ministerial delegation with the French government," After that he held a distinguished meeting with major French companies, and now on the way to Berlin."

Al-Kazemi left on Sunday evening for Paris at the start of the first European tour by the Prime Minister of Iraq since taking office last May.  LINK

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Samson:  Ministry Of Trade: The Establishment Of An Economic Forum In Baghdad

19th October, 2020

The Minister of Trade, Dr. Alaa Ahmed Al-Jubouri, discussed with the President of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi and the President of the Baghdad Chamber of Commerce, Firas Al-Hamdani, ways to provide government support and its orientation to the market economy, put forward proposals, observations, and areas of cooperation with the ministry and hold specialized exhibitions on the grounds of the Baghdad Fair.

The minister stressed that "the establishment of an economic forum in Baghdad has international, Arab and local economic dimensions, and will have the support and presence of the prime minister, ministries, sectors and bodies."

He pointed to "the government's vision, direction and interaction to support the private sector and the market economy, which enhances the national product, by organizing work and opening wide areas for dealing." He said, "His ministry is responsible for the internal and external economic policy of the country, and that the private sector is within this policy and its support receives the attention of the ministry and the government in general."

Al-Jubouri pointed out the need to “work to develop the national product in industry and agriculture and restore the citizen’s conviction in it, as well as restore the status of the national industry in the external environment and define the identity of the Iraqi merchant. For his part, the President of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, made a number of proposals, and between the chambers’ role in establishing economic forums And conferences to support the private and public sectors.

He expressed his desire to cooperate with the Department of the Registrar of Companies regarding updating the data of the registered companies annually to get rid of unknown and inactive names, as well as the trade name and what is related to the laws in force, and to cooperate in allocating a permanent hall in the Baghdad Fair to hold specialized exhibitions.

In turn, the head of the Baghdad Chamber of Commerce, Firas Al-Hamdani, said, “There are several proposals in the working paper presented to the Minister of Trade, including the addition of the Baghdad Chamber of Commerce in the membership of the Export Support Fund and the General Company for Exhibitions and Commercial Services, and the establishment of the Iraqi Export and Import Bank, so that the merchant can facilitate the issue of opening documentary credits.

 And adding the Baghdad Chamber of Commerce to the membership of joint committees with Arab and foreign countries, giving exports and exports priority in facilitating procedures, adopting the principle of re-exportation, and canceling the ban on exporting some Iraqi products.  LINK

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Samson:  Smuggling of 37 Asian workers from Kurdistan and selling them in Baghdad

08:59 - 20/10/2020

The "destiny" organization for combating human trafficking revealed, on Tuesday, that 37 Asian workers had been smuggled "in a disgraceful manner" from the Kurdistan region to Baghdad.

Al-Sabah newspaper quoted the organization as saying, "The workers were smuggled by cargo trucks during the last six months of this year." The organization added, "All workers and workers present in all regions of Iraq entered through the Kurdistan region with a (tourist visa) in cooperation with companies based in the United Arab Emirates, and then they were distributed and sold to employment offices in the capital, Baghdad first, except for a few hundreds who were spotted from Before the organization, they entered Baghdad airport using (visit visa) or (emergency).

The organization appealed to the Minister of Interior, Lieutenant General Othman Al-Ghanimi, “to exercise his legal powers in his capacity as Chairman of the Central Committee to Combat Human Trafficking in accordance with the Anti-Human Trafficking Law No. 28 of 2012 in activating sub-committees headed by governors according to Article 4 / First of the Anti-Human Trafficking Law, in Baghdad and other governorates.

Associated with a region, developing practical plans to immunize society from the methods of traffickers to inflict victims, and coordinating with the Kurdistan Regional Government to prevent their offices and companies from smuggling foreign workers and workers who violate the terms of residency and work to Baghdad and the central and southern governorates, and the initiation of a national campaign to identify the dangers of human trafficking after the increase in the sale of persons And the sale of human organs in Iraq”.   LINK

Samson:  Israel announces opening the airspace and canceling visas with the Emirates

20th October, 2020

On Tuesday, Israeli Prime Minister Benjamin Netanyahu expressed his welcome to the historic visit of the first Emirati government delegation to Israel, referring to the broad prospects for cooperation after the two countries concluded a peace treaty last September.

In a speech he delivered with the arrival of the Emirati delegation, Netanyahu said that agreements will be signed with the UAE during the visit, indicating that they will make the best for the people.

The Israeli Prime Minister affirmed that there would be cooperation with the UAE in a number of areas: “We will cooperate in investment in order to create an economic environment that benefits all citizens and business leaders, who are many in the UAE and Israel.” He added that the UAE and Israel would cooperate in technology and industry in order to serve health and the environment: "All these things are wanted and deserved by the people of our two countries." He pointed out that the cooperation will include the aviation field and exemption from visas, pointing out that: "Skies will be opened between the UAE and Israel, and visas will be canceled between the two countries."

On Tuesday, the first government delegation from the UAE arrived in Israel to discuss cooperation in the fields of investment, trade and technology. According to "Sky News Arabia", agreements for Emirati-Israeli cooperation will be signed during the delegation's historic visit. The Emirati delegation includes Minister of State for Financial Affairs Hamid Al Tayer, Minister of Economy Obaid bin Touq, and Assistant Minister of Foreign Affairs and International Cooperation for Cultural Affairs Omar Ghobash.

On this visit, which is the first for an Emirati delegation to Israel after the signing of the peace treaty concluded last month between the two countries, the two sides will sign four agreements in various economic sectors.

Meanwhile, the US Secretary of the Treasury, Stephen Mnuchin, had confirmed that the peace treaty between the UAE and Israel would lay great foundations for the economic growth of all countries in the region during the next stage.  LINK

Frank26 and KTFA Members Monday Night 10-19-2020

Monday Night KTFA CC with Frank26 and Team

THE IQD UPDATE

PLAYBACK IS: 605.313.5163 PIN: 156996#

Frank26:  10-19-20.....CBI.......I WOULD LIKE TO DATE YOU

THIS IS ALL IN FRANK'S OPINION

https://www.youtube.com/watch?v=KIw1hWeJ888

Samson:  Iraq signs three memoranda with France in the fields of transportation, agriculture and education

10/19/2020 13:39:47

 Iraq signed, on Monday, in the French capital Paris, three memoranda of intent in the fields of transportation, agriculture and education, in the presence of the Prime Minister, Mustafa Al-Kazemi and the French Prime Minister, Jean Castex.

The Iraqi Minister of Agriculture and the French Minister of Agriculture and Food signed a memorandum of intent to enhance cooperation between the two sides in the field of strengthening the institutional capabilities of the Iraqi Ministry of Agriculture, including the exchange of experiences in the fields of agriculture, training, veterinary education, phytosanitary and agricultural research. 

The memorandum also includes encouraging agricultural and food partnerships in the fields of food and agricultural industries, agricultural machinery, and the development of land and water resources.

The Iraqi Minister of Transport signed a memorandum of goodwill declaration with his French counterpart regarding the construction of the suspended train in the capital, Baghdad, while the memorandum of intent, which he signed on behalf of the Iraqi Minister of Higher Education, Secretary General of the Council of Ministers Hamid Al-Ghazi, with the French Minister of Education, included strengthening cooperation in the field of education Between the two parties, expanding the acceptance of Iraqi students in French universities. 

The Prime Minister, Mustafa Al-Kazemi, arrived on Sunday evening, the French capital, Paris, as part of a European tour that includes France, Britain and Germany, during which he will hold several discussions based on developing bilateral relations with the three countries and enhancing joint cooperation in various fields. LINK

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Samson:  Related to the ministries .. Referring dozens of new corruption files to the Integrity Commission

10/18/2020 19:06

The Parliamentary Integrity Committee revealed, on Sunday, that dozens of new corruption files relating to a number of ministries were referred to the Integrity Commission.

A member of the committee, Sabah Taloubi, said, "The committee has completed the investigation of dozens of new files and referred them to the Integrity Commission, related to the Olympic and Boxing Federation, and other files in a number of ministries, including labor, social affairs, electricity, oil, health, agriculture, agricultural societies, others related to hydraulic industries and another file for Samarra medicines."

Taloubi added, "Some files were referred to the Integrity Commission after the investigation is completed, and some need a long time, so they are submitted to the Integrity Commission or the Public Prosecution to complete the investigative procedures," noting that "most of the reports that were referred are contracts."   LINK

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Samson:  Integrity: Executing an arrest warrant against the former governor of Nineveh

10/19/2020 14:12:22

 Today, the Federal Integrity Commission announced that it was able to implement an arrest warrant against the former governor of Nineveh, indicating that the implementation of the order came after obtaining the approval of the competent court to consider integrity cases in the governorate.
 

In its discussion of the details of the order execution process, the investigation department of the authority stated that its staff in the governorate were able to implement the arrest warrant issued against the former governor, which was issued on the basis of the provisions of Resolution (160 of 1983) by the Judicial Investigation Authority that was established according to Order 126 of 2020 for looking into Of major corruption cases.

The Integrity Commission had announced that it had formed a high-level investigation team; To reveal the fate of the funds that were withdrawn before the dismissal of the former governor of Nineveh, and the arrest of a number of officials and employees in the governorate office; On charges of embezzlement and squandering state funds, as the amounts seized from their priorities exceeded 76 billion dinars.   LINK

Samson:  Kurdish deputy: 320 billion dinars, the Kurdistan’s share for the remaining three months of the year

19th October, 2020

A Kurdish deputy revealed, on Monday, that 320 billion dinars are the share of the Kurdistan region for the remaining three months of the year.

The deputy for the Kurdistan Islamic Union, Jamal Cougar, said, "The region's share for the remaining three months of this year will be 320 billion dinars, which will be sent from Baghdad to the region, until the 2021 budget is approved."

Earlier, Minister of Finance Ali Allawi stressed the importance of the white reform paper to overcome challenges, indicating that it was diagnosed with a scientific and objective vision of the economic and financial problems that have accumulated over decades, which were not the result of the current stage due to wrong policies that were followed in the past.  LINK

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Samson:  With a deduction of 18 percent ... Kurdistan begins distributing employees' salaries

18th October, 2020

The Ministry of Finance and Economy in the Kurdistan Regional Government announced, on Sunday, that it will distribute the salaries of last September to five ministries and the three presidencies on Monday (today), and will complete the distribution of salaries for all ministries and government departments in the region.

According to the salary distribution schedule, tomorrow, Monday, the salaries of September will be distributed to the ministries (municipalities, tourism, electricity, agriculture, water resources, culture, youth, reconstruction and housing).

According to the same schedule, Monday, the salaries of the same month will be distributed to the three presidencies (the regional presidency, the parliament presidency and the prime minister).

Thus, the distribution of the salaries of the month of September for all employees will end with a deduction of 18% of the salary, and the distribution of the salaries of retirees will follow.  LINK

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Samson:  The "double shock" of Iraq loses half of its fiscal revenues

19th October, 2020

The International Monetary Fund stated, on Monday, that the oil-exporting countries were most affected as a result of the "double shock" resulting from the repercussions of the Corona virus, indicating that Iraq had lost 50 percent of its financial revenues.

The fund said in a report for the month of October, seen by Shafaq News, that "the oil-exporting countries are most affected as a result of the double shock," noting that "oil prices fell to their lowest levels in 20 years between March and April."

He added, "In light of the decline in oil prices and its production, the data indicate the collapse of oil revenues in Iraq during the first half of 2020 by 50%," noting that "in the short and medium term, excess supply and large stocks remain a source of existing concern while the decline continues." The demand is due to the decrease in air travel, despite the recovery of road transport. "

He pointed out that "the curves of future oil contracts indicate an expected rise in prices to reach 48 US dollars per barrel in the medium term compared to 41 dollars in 2020, but it remains 25% below its average level in 2019."

The International Monetary Fund for the Middle East and Central Asia expected a decline in GDP in the region by 4.1% in 2020, and also expected a contraction of the economy.  1.3% more than expected in April 2020.   LINK

Frank26 Video "HCL", MilitiaMan, and news Tuesday PM 10-13-2020

KTFA: 

Frank26:  I want to talk to you because I have been told to do so by WALKINGSTICK...

I would strongly advise you to come and listen tonight

I will keep it within 30 minutes ...

Frank26:  10-13-20.........HCL

This video is in Frank’s opinion

https://www.youtube.com/watch?v=oS3e8LXyxO4

Samson:  The Constitutional Amendments Committee Identifies The Most Important Controversial Issues, And Article 140 Affirms The Most Prominent Of Them

13th October, 2020

The Parliamentary Constitutional Amendments Committee identified controversial points in the constitution, most notably Article 140, which is the basic article in the relationship between Baghdad and Erbil.

Member of the committee, Representative Yonadam Kanna, said, in a statement to the official agency affiliated with it , on Tuesday, that "the points of contention in the constitution are Chapter 1, which is Article 140, as well as about the nature of the political system, whether presidential or parliamentary," pointing out that "other important points of disagreement are Related to government formation, is the largest parliamentary bloc or the winning list that forms the government.

Kanna added that "one of the points of contention is also in Chapter Two of rights and freedoms," noting that "there are 23 articles on rights and 10 articles on freedoms."

He pointed out that "the third chapter is to grant the citizen a decent living and to provide basic services, such as housing, education, health, care and others," noting that "these services are not available to the citizen despite their presence in the constitution."

He explained that "Article 140 of the articles, which is the main point of disagreement between Baghdad and Erbil, and that there will be a meeting soon between the political blocs and the political references of the Kurds and the Constitutional Amendments Committee to come up with a final formula on Article 140 in order to satisfy all parties."   LINK

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Samson:  Minister of Finance: The White Paper is a reform program for financial and economic affairs

13th October, 2020

Minister of Finance, Ali Abdul Amir Allawi, warned, on Tuesday, that Iraq is facing dangerous repercussions, while he confirmed that the White Paper will be a reform road map.

"The White Paper is a reform program for the financial and economic affairs in Iraq, and it will turn into legislation with the aim of reforming the economic and financial situation," Allawi said in a joint press conference with the Minister of Planning and government spokesman Ahmed Mulla Talal, held in Baghdad.

He added, "The situation of Iraq will be much better economically and the situation of the individual will improve if we succeed in implementing the white paper, as well as placing the liberated cities at the forefront of their concerns," noting that "one of the main axes in the white paper is to reform the situation in the provinces."

Allawi continued, "We face dangerous repercussions and the white paper is a reform road map," noting that "the border crossings are linked to the import movement and will not be as important as oil," noting that "Iraq imports materials worth $ 60 billion annually from abroad."   LINK

Samson:  The decisions of the Council of Ministers

13th October, 2020

The decisions of the Council of Ministers during today's session, which was held under the chairmanship of Prime Minister Mustafa Al-Kazemi.

The media office of the Prime Minister said in a statement that Mawazine News received a copy of, that "the Cabinet held its regular session headed by Prime Minister Mustafa Al-Kazemi, during which a number of issues and topics included in the agenda were discussed."

The statement added, "The Minister of Health and Environment, at the beginning of the session, presented a detailed report on the latest developments in the Corona pandemic in Iraq, and the government's efforts to contain the virus, reduce the rates of injuries and deaths throughout the country, and the efforts of the Ministry of Health to provide the necessary treatments and health supplies for all Hospitals, as well as continuing awareness campaigns on taking the preventive measures that must be adhered to.

He continued: "During the session, the reform white paper was discussed, where the Minister of Finance presented the final report of the emergency cell for financial reform in Iraq, which includes immediate plans to get out of the current financial crisis, and an explanation of the contents of the white paper, and its ability to achieve the advancement of the country's economy, which suffers from various problems. And it faces serious challenges, and the white paper is enough to address many of the defects that have accumulated over many years."

After discussing what was included in the agenda and what the discussions concluded about it, the Council issued the following decisions, according to the statement:

First / Approval of the White Paper for Economic and Financial Reform, taking into consideration the opinion of the Legal Department in the General Secretariat of the Council of Ministers, and the comments of the Council of Ministers.

Second / Extending the exception granted to the Ministry of Health, according to the decision of the Supreme Committee for National Health and Safety (9 of 2020), and the decision of the Council of Ministers (42 of 2020), regarding the Ministry of Health exemption from the instructions for implementing government contracts (2 of 2014) and its attached controls, and instructions for implementation The federal general budget upon its issuance, and in order to eliminate the Corona pandemic, to ensure the provision of medicines, supplies, and medical and laboratory devices without delay.

Third / Approval of the recommendation of the committee formed according to the Diwani order (34 of 2020) and the Diwani order (247 of 2020), which include:

- Authorizing the Ministry of Transport to negotiate the suspended Baghdad train project with a consortium of (Alastom-Hyundai) companies, and at the cost and period that will be determined based on the outputs of the report that will be submitted by the consultant, who will evaluate the proposal submitted by the two companies' consortium, and what will be reached through negotiations between the two sides, The issue was later presented to the Council of Ministers.

 Fourth / Approval of the following:

1 - All creditor ministries and government agencies to provide the two ministries (trade and agriculture) with lists with a CD containing the debts owed to them by farmers, to set off the peasants’ dues and those debts and transfer them from the ministries of commerce and agriculture to the creditors.
2 - All ministries and government agencies not to fulfill the principal debts owed by farmers, and to cancel the delay interest from them, for those who have debts owed by government agencies equal to or greater than the amounts, and are required to pay them in light of the payment of their dues from government institutions.
3- Peasants marketers of strategic crops (wheat, barley, rice, corn) open accounts for them at the Agricultural Bank.
4- The Ministry of Commerce and Agriculture released the amounts owed to farmers to their accounts at the Agricultural Bank.
5- The Ministry of Agriculture supplies farmers and farmers with seeds and fertilizers, provided that the Ministry of Trade pays its sums to the aforementioned ministry.”   LINK

Clare:  First / Approval of the White Paper for Economic and Financial Reform,

THANKS SAMSON!.......... EXCELLENT!!

Samson:  Iraq proposes to form a joint committee to settle financial issues with Iran

12th October, 2020

Central Bank Governor Mustafa Ghaleb Makheif proposed, on Monday, the formation of a joint committee with Iran to settle financial issues between the two countries, while indicating that he would use Tehran's experience in financing and banking.

"Fars" news agency quoted Makhaif as saying, during his meeting with his Iranian counterpart, Abdel Nasser Hemmati, who arrived in Baghdad this morning, that "Iraqi officials affirm that banking issues between the two countries will be resolved and that the problems will soon be resolved in light of the approved mechanisms," indicating that "we are trying Continuing banking cooperation with the Islamic Republic of Iran, and we will use Tehran's experience in financing and banking. "

“All our efforts are to continue cooperation between the two countries, and the existing problems in the field of financial and monetary claims by Iran will be solved,” Mukhaif added, noting that “there are some mechanisms that can be used to help enhance banking and monetary cooperation between the two countries and solve the existing problems.” "We suggested forming a joint committee in the presence of banking and financial officials from the two countries to find the necessary solution to settle financial issues between Iran and Iraq," he said.

For his part, the governor of the Central Bank of Iran said, "I hope that the banking and financial problems between the two countries will be resolved in light of the determination and will of the Iraqi authorities."

Hemmati considered relations between Iraq and Iran "very important and effective," stressing that his country "attaches great importance to developing cooperation with Baghdad."

The governor of the Central Bank of Iran arrived in Baghdad this morning, heading a delegation to meet and consult with Iraqi officials, including Prime Minister Mustafa Al-Kazemi.  LINK

MilitiaMan:  FINAL ARTICLE #280:

"The economist Ahmed Al-Salami wrote an explanation about some countries deleting zeros from their currency and the possibility of applying them in Iraq, while referring to the possibility of making the Iraqi currency strong and has global demand, in what he described as the free dinar.

"Iran will soon delete four zeros from its currency and convert it from the riyal to the new toman officially and have completed the legal series for that, and at that time it will be 100 dollars equal to 300 toman only instead of 3 million tomans or 30 million riyals," Al-Salami said in a clarification received by "Yes Iraq." .

MilitiaMan:  A common thought is from a respected Journal is:" that important beneficial effects of currency unions come through the promotion of trade." ~ MM

https://www.jstor.org/stable/2696432?seq=1

MilitiaMan:  Something to think about is that the FA #280 is talking about the Deletion of Zeros for Iran and Strengthening the IQD and then in #283 we see talk of the Reform Papers.

The common denominator here is that Iraq and Iran are in the news of recent talking about having similar objectives and that is banking measures. The timing of this is by no coincidence imo..

We see the White Papers are today issued accordingly. We wait and see the details within them. I'll bet the world is watching.. lol imo They know from all that Iraq has spoken about of late and in DC.. Game on! imo ~ MM

Governor of the Central Bank: We are determined to implement the reform plan to promote the work of the banking sector

"" Depletion of foreign currency to buy the most insignificant commodities and deplete the cash balance, instead of facilitating official and accounting transactions, packages, storage, transportation, use of versatile metal change and revolutionary digital currency through cards and gain confidence internally and externally, needs a revival, stimulation and progress in this aspect, easy projects that are waiting for their hero, below. Conceptual models for the deleted Iraqi currency, the "free dinar" zeros." LINK

Frank26, TNT, Pimpy and more Late Monday Night 10-12-2020

KTFA:

Clare: The White Paper we presented today to bloc leaders is a solution to Iraq’s economic crises, complete dependence on oil & lack of revenue streams.
The positive feedback of political blocs with the Paper & its proposals shows a responsibility towards our people that we praise.— Mustafa Al-Kadhimi (@MAKadhimi) October 12, 2020

Will:  wowzers...i thought this was tomorrow

KTFA Monday Night CC with Frank26 and Team:

A NEW UB2B WITH THE IQD UPDATE

PLAYBACK IS:  605.313.5163  PIN: 156996#

Frank26:  10-12-20........WHITE PAPERS WHITE CHRISTMAS

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

TNT:

Tishwash:  Al-Kazemi announces the presentation of the "White Paper" and praises the interaction of political forces

Prime Minister Mustafa Al-Kazemi confirmed, on Monday, that the "white reform paper" that we presented today to the political forces is a solution to the chronic economic management crisis.  

"The white reform paper that we presented today to the political forces is a project for a solution to the chronic economic management crisis, complete dependence on oil and not to diversify sources of income," Al-Kazemi said in a blog post by "People".  

He pointed out that "the interaction of the brotherhood in the political forces with the paper and its proposals betrays a responsibility towards our people that deserves praise."  

 On Monday, Prime Minister Mustafa Al-Kazemi discussed with the political blocs the reform white paper on overcoming the economic challenges that the country is going through, especially with regard to the financial aspect.  

The media office of the Prime Minister said in a statement, which "people" received a copy of, (October 12, 2020), that "Prime Minister Mustafa Al-Kazimi, today, held a meeting with the political blocs in the presence of Parliament Speaker Muhammad Al-Halbousi and Chairman of the Supreme Judicial Council, Faiq. Zidan, "noting that" during the meeting, which was attended by the Ministers of Finance and Planning, a discussion of the reform white paper on overcoming the economic challenges that the country is going through, especially with regard to the financial aspect, was discussed.    

According to the statement, Al-Kazemi referred to "the size of the challenges facing Iraq, whether at the health level and the repercussions of the Corona pandemic, or at the economic level and stifling financial crisis, or at the level of major security challenges," stressing that "despite the pressures and obstacles that the government faces, but it is Determined to work hard to overcome the ordeal. "     

"The government has assigned specific duties that culminate in early elections, and a date has been set for them, and the election law has been finalized, and work is continuing with the election commission and the concerned authorities, to hold the elections on time, and thus we have responded to the will of our people and our rational reference."    

He stressed that "addressing economic challenges is not an easy task, and that the current crisis is systematic, not related to this government and its procedures, and it needs real and radical reform and long-term plans to overcome it," stressing "the need for integration in work between the authorities to achieve what we seek."    

Prime Minister Mustafa Al-Kazemi reviewed "the reform paper, indicating that it is a preliminary paper that needs everyone's efforts to develop it, and to benefit from existing experiences, in order to translate it into a reality for long-term work."    

Al-Kazemi affirmed that "the white paper represents the beginning of economic reform, and although it is lengthy and includes some measures, it will be a base upon which we can develop the country's future vision," expressing his "hope that the House of Representatives will discuss the reform paper and approve it in principle, to be a framework. A year for real and serious work that could boost the Iraqi economy. "  link

Iraqi Dinar News 10/12/20

Pimpy’s Investment Chat: Oct 12, 2020

https://youtu.be/qoIliNlD_0U?t=2

Vietnam Dong News 10/12/20

Pimpy’s Investment Chat: Oct 12, 2020

https://youtu.be/DGqCXj95MIE?t=6

MilitiaMan, Frank and more Friday PM "There Must Be A Rate Change" 10-9-2020

KTFA:

MilitiaMan:  Direct payment of the salaries of defense personnel and other departments

10:37 - 10/08/2020
Al-Rafidain Bank announced, on Thursday, that the salaries of employees of the Ministry of Defense and other departments will be paid.

"The salaries of employees of the Ministry of Defense and other departments have been paid."

The statement indicated that "bank branches are open to continue distributing and completing the exchange process." 

MilitiaMan:  Let’s look at this a bit closer..  Banks do primary deposits and withdrawals. Not distributing and exchanges per se.. So, did banks open for the masses on a holiday? Or did only essential employees work and if so, for what?

The thinking is from the above, imo there is other things at play. Keep in mind we expect an imminent MR to take place and realize they have been talking about fiscal and monetary policies.

Fiscal is about value and monetary is more about management.. Well, management would need to have new currency distributed that has value and It to be exchanged for old currency with lesser value.. Goes hand in hand.. imo If true, then this looks even better !!! Imo ~ MM

Edna:  But all this is meaningless till the show the citizens the New Lower Denominations as we where told on the CC...So I'll hold My excitement till then..IMO  

Youngsc:  Rate can come before new notes imo as Frank stated in the past or can come out at the same time very quickly imo

DeepWoodz:  Yup...rate must come. Logic says they should come simultaneously. Hand in hand. One is no good without the other. ImoThere are many here that it appears, have been hoping for so long and had their expectations bashed in the past, that are a little gun shy. That’s understandable but....

* we have a new PM
* a new CBI governor
* corruption on the run
* citizens united and upbeat
* bozos on the run
* greatest president ever in the USA
* KTFA to help us make it to the finish line teams at work tirelessly and endlessly…..KTFA leader put here for such a time as this…..like minded individuals praying together
* and most importantly.... a God who loves us and is in FULL control. 

I believe if you just stop and think, there is more than enough to be excited about.  imo

MilitiaMan:  It truly is not meaningless imo and the rate is to be exposed before or at the same time as the NSCNs. The fact that we/they have been non stop in regard to education issues, it exactly what they need and we should expect. Thus, they telling us they are to change the value of the Dinar to the Dollar and not in an inflationary way, is truly meaningful. If one takes the view, just show me the money, then I'll get excited is fine for some, however, not everyone has that sort pessimistic view. The study is a good one and following along with excitement is hope, has nothing wrong with it.. Nor is there anything wrong with having excitement just from the progress of things in the news, etc. Peace to you and enjoy the weekend.. We are in exciting times, like I have ever seen before. imo ~ MM

.. "the most important of which is the central bank’s approach and monetary policy that restores the balance of the dinar’s price against the dollar in the daily auctions to sell the dollar by the Central Bank of Iraq, by raising the subsidy slightly from the exchange rate in a way that achieves the price change at a specific and studied rate To avoid the issue of inflation."

"which requires a review of the monetary policy to curb this chaos and achieve tax and customs revenues equivalent to the volume of imports, which we and with us many experts and specialists in financial affairs believe that the exchange rate must change, provided that it is accompanied by a set of supportive measures and decisions, to control Expected inflation."

Deepwoodz: IMO I missed this the first couple reads….  Citizens are viewing special instructions! Hmmm, concerning nscn’s (LD’s) maybe?

Samson:  El-Rafidain announces that he will continue to open accounts for citizens

1st October, 2020

Al-Rafidain Bank announced, on Thursday, that it will continue to open accounts for citizens and other segments to deposit their money in the bank

The bank’s media office said in a statement received by "Al-Eqtisad News", that "the bank continues to open accounts (savings and current) for citizens and deposit their money in exchange for interest

The bank called on citizens to "visit bank branches for the purpose of viewing special instructions and placing their money in the bank and not hoarding it in homes in light of the positive benefits set by the bank in return for that

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Samson:  Justifications For Changing The "Iraqi Dinar" Exchange Rate

9th October 2020
Iraq is going through very sensitive conditions, as the Iraqi economy faces a real challenge after the excruciating failure to find alternatives to selling crude oil, prosthetic solutions, and weak control over public expenditures, and with the absence of sovereign investment funds that secure additional imports and a portfolio to protect the future of generations, especially in times of crisis.

Aid request to pay salaries

Iraq today has reached a request for aid in order to pay the salaries of employees and retirees because what enters the treasury is not equal to less than half of what Iraq needs to cover salaries only, although the government has solutions if there is the will to improve the financial position and fill the budget deficit, by reducing public spending and controlling Wasted resources and support for the local industrial and agricultural product and other economic solutions, the most important of which is the central bank’s approach and monetary policy that restores the balance of the dinar’s price against the dollar in the daily auctions to sell the dollar by the Central Bank of Iraq, by raising the subsidy slightly from the exchange rate in a way that achieves the price change at a specific and studied rate To avoid the issue of inflation.

Taking into account international economic variables

Our constant demand for a change in the exchange rate was based on a realistic vision that included all aspects of international economic variables due to the decline in oil prices and the Corona pandemic, as well as the chaos of imports, the loss of control and control over the border outlets, the volume of counterfeiting, corruption and smuggling through unofficial outlets, all causing the Iraqi market to be violated. And dumping it with inferior and cheap commodities and preventing the upgrading of the local product, which requires a review of the monetary policy to curb this chaos and achieve tax and customs revenues equivalent to the volume of imports, which we and with us many experts and specialists in financial affairs believe that the exchange rate must change, provided that it is accompanied by a set of supportive measures and decisions, to control Expected inflation.

The failure of the previous administration of the Central Bank of Iraq

However, the previous administration of the Central Bank insisted on continuing with the policy of fixing the dinar’s price against foreign currencies, under the pretext that changing the exchange rate would reflect on high prices and inflation and harm vulnerable social strata and other justifications that do not get fat or rich from hunger. 

The continued sale of the currency at a fixed exchange rate by the Central Bank will lead to the bankruptcy of the state and the collapse of the economic system in conjunction with the decline in oil prices and the abandonment of a million barrels of its share for the benefit of others in these difficult circumstances the country is going through,

The assumption that the survival of this equation, which is in support of imports, industries and exports of neighboring countries, will lead to the accumulation of goods in exchange for a cheap dollar that the exporting countries benefit from at the expense of the Iraqi economy stopping. The basis on which we started by demanding a change in the exchange rate is the fact that the state is not fully in control of the imports of the border outlets, including those in the Kurdistan region,

Exchange rate change proposal

Therefore, we included the proposal to change the exchange by collecting tax and customs duties in advance from importers in the window of currency sale, and to clarify the matter, if we calculate the price of oil specified in the draft budget law at (56) dollars per barrel, meaning the rate of decrease is (15%), so the exchange rate is assumed ( 1300) dinars per dollar, and if (5%) was levied for the tax and (15%) for the customs fee and added to the exchange rate to become (1500) dinars per dollar, so we would have withdrawn the rug from the corrupt in the northern, western, eastern and southern outlets and we got On revenues from the state treasury, the monetary result to the state treasury every day is the sale of a dollar at a rate of (200) million dollars, and in the case of adopting the new exchange rate, it will be (60) billion additional dinars for each auction day, which is approximately (18) trillion dinars annually.

Conclusions:

First - Achieving revenues for the federal government’s treasury that exceeds (18) trillion dinars annually from the amount of tax and customs, with a price difference at least.

Second - Elimination of currency smuggling, as imports will be real and in the amount of transferable sums.

Third - ending the phenomenon of tax and customs evasion at the border crossings.

Fourth - the submission of all ports to the authority of the federal government and thus solve the problem of imports of goods and goods from the ports of the Kurdistan region because of the preference in terms of taxes and customs fees.

Fifth - ending all tax and customs exemptions for institutions and government departments and others.

Sixth - ending the phenomenon of the mediator in selling dollars and commissions of private banks, because dealing must be with the real importer and not with speculators, which will be reflected in the development of the export sector for local products and the creation of job opportunities.

Seventh - Streamlined flow of goods and goods from the border crossings.

We expect the new administration of the Central Bank of Iraq, which has taken positive steps to correct the previous paths and approaches, which are in line with the reform plan, more decisions to create a real banking sector, and we hope from them to study the ideas and proposals presented by our council that serve the public interest.   LINK

Frank26:  YA THINK !!! ??? ....................................................LOL

MilitiaMan:  I do.. lol ~ MM (thumbs up)

MilitiaMan:  They must do a rate change and not the 1300 or 1500 they mention in an odd way, that won't work.The way that works is the collection of taxes, customs, etc.. Curbing corruption, stopping of smuggling, transparent accounting, etc.. All things in the conclusions is supportive of a future market economy and the experts are saying so.. It doesn't include runaway inflation, they have that taken care of, by adjusted the the Dinar to the Dollar exchange rate. More dollars it takes to buy dinar...  Very well timed.. imo.. ~ MM

Samson:  NIC plans to Revitalize Stalled Projects in Iraq

9th October, 2020

Iraq's National Investment Commission (NIC) has announced that it has prepared a plan to revitalize stalled projects.

NIC Chairman, Suha Dawood Najar (pictured), said:

"NIC have prepared a plan to revitalize the investment process all over the country in all sectors through activating the lurking and halted projects and reshaping them financially and technically, noting that " there is some red tape that hinders the implementation of these projects, the matter that urged NIC to directly coordinate with the concerned departments and institutions to solve problems especially these connected to infrastructure and investment projects in health and industry sectors.

"The financial ceiling for the investment projects within which NIC was concerned is 250 Million $ and above according to investment law but we currently seek to adopt all projects regardless of its area or financial cost, assuring at the same time that we are about to find a clear and well defined mechanism through which we can equally involve the citizens and the private sector in NIC projects to ensure its funding.

"NIC started real steps to solve the problems that face lurking investment projects and visits have been made to a number of projects in several provinces (Basrah, Kerbala, Wasit) to participate in easing these problems."

The Chairman also referred to the importance of activating the role of the One Stop Shop to solve the red tape problem and assured that "the Commission seeks to take its role in adopting the economic policies for the investment process in the country and not to be exclusively devoted to granting investment licenses but also revitalizing the halted projects" stressing the significance of activating the investment law in a way that harmonize with the new vision and avoid loopholes in law that obstruct this goal."    LINK

MilitiaMan:  Fairly sure the NIC knows that the mechanism is a new internationally accepted currency with strength to it.. imo That is about to take place. The ascension to the EBRD is paving the way along with the WBs guidance too.. imo Timing is great and no doubt we are witnessing them come together  now.. imo ~ MM

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Samson:  Close sources reveal what Saleh and Al-Kazemi are seeking regarding the region

10/09/2020 10:53:40

Sources and officials close to the Iraqi decision-makers revealed a rapprochement and great understandings between Baghdad and Erbil to solve the outstanding issues between them.

The spokesman for the Deputy Prime Minister of the Kurdistan Regional Government, Samir Hawrami, said in a press statement, "The ambassadors of countries and diplomatic missions have repeatedly emphasized the necessity of agreement between the region and the center during their meetings in the Kurdistan region and Baghdad, and they had a great role in converging views between the two parties during their meetings." 

He pointed out, "There is an intention and a preliminary agreement to resolve all sticking points between the two parties, and there is a joint delegation between the Ministries of Finance and Planning in the Kurdistan region with their counterparts in the federal government to develop a financial strategy between the region and the Center for the years 2021, 2022 and 2023, and discussions are continuing on this issue, but reaching an agreement." It requires more discussions and meetings to solve many technical points."

Kifah Mahmoud, the media advisor in the office of the head of the Kurdistan Democratic Party, Masoud Barzani, believes that “Prime Minister Mustafa Al-Kazemi, by virtue of his good relationship with the leaders of the region and his accurate knowledge of the Kurdish issue, its joints and backgrounds, helped build a positive shift in the course of the relationship between the region and the center despite the short period of his work, Especially if the early elections that he set for next June are realized. And, "the relationship in general took a positive turn and contributed to developing partial solutions and agreements for some problems, such as employee salaries, border crossings, and the energy file," he said.

A media source close to the prime minister's office said, "Any prime minister cannot pay corporate debts without a comprehensive agreement that guarantees delivery of all the region’s oil, and without reviewing those oil contracts." On the other hand, a high-ranking source from the Presidency said, "The President of the Republic, Barham Salih, is working in coordination with the Prime Minister to develop understandings to solve problems, in coordination with the President of the Kurdistan Region and the government." He pointed out that "there is convergence of views and seriousness on both sides to resolve all outstanding matters for more than ten years and to reach a satisfactory solution for both parties in accordance with the legal and constitutional entitlement."

The spokesman for the Prime Minister, Ahmed Mulla Talal, said in a previous press conference that "the prime minister's visit to the Kurdistan region sought to resolve issues and enhance understanding," indicating that the meeting between Al-Kazemi and the President of the region, Nechirvan Barzani, dealt with the 2021 budget, which is the starting point for resolving disputes and problems for all. issues and rights." 

He explained that "the talks dealt with the issue of ports and oil and the share of the Kurdistan region and delivered to Baghdad," noting that "the results will see the light in the budget of 2021".  LINK

MilitiaMan:  Yes, that is right. But, be sure, the 2019 FMLA and 2020 budget will be sorted first. Hence, they will know just how much to expect in the future subsequent years to come. With the energy file, taxes, tariffs, customs, LNG, etc. They all know what it means going forward.. Big big Bucks! lol .imo ~ MM

Samson:  Iraq officially joins the European Bank membership and revealed its benefits

10/09/2020 15:26:38

The Ministry of Foreign Affairs announced that Iraq has officially joined the European Bank.

A statement of it stated that the Euphrates News Agency received a copy of it, "The relentless efforts of the Ministry of Foreign Affairs represented by the Embassy of the Republic of Iraq in London and the European Bank for Reconstruction and Development have resulted in the approval of the members of the Bank's Board of Governors for Iraq to join the Council, during the voting process witnessed by the work of the annual meeting. 

For the Board of Governors, which will be held in London for the period 7-8 October 2020." He added, "Iraq’s formal accession to the bank’s membership will allow it to benefit from international banking expertise to develop the banking sector, and to obtain technical support and assistance that creates a suitable ground for investment."

The statement continued, "This common achievement has been secured despite the difficult circumstances imposed by the outbreak of Corona virus on various countries of the world, including Iraq. We hope that this step will be an introduction to joint action aimed at strengthening the private sector in Iraq to be able to compete and contribute to supporting development." Sustainable in the country."

He pointed out that "on this occasion the embassy appreciates the efforts of the European Bank for Reconstruction and Development, especially the members of the Board of Governors, Secretary General Enzo Kwatruchuchi, and the staff of the Secretary General's office."  LINK

MilitiaMan:  They took the first step and now has ascended to the UBRD.. VEry well done. They will now have access to International Expertise going into a market economy with a vibrant private sector.. It is just about go time.. imo ~ MM

Monday Night KTFA CC, MilitiaMan and more...10-5-2020

KTFA:

Samson:  Barzani announces agreement on joint management of the border crossings in Kurdistan

5th October, 2020

The President of the Kurdistan Regional Government, Masrour Barzani, announced, on Monday, the agreement with the federal government to jointly manage the border crossings in the region, while affirming his government's commitment to handing over the region's oil revenues to the federal government.

Barzani said, while attending the Kurdistan Parliament session, that "the regional government is committed to handing over the region's exported oil imports to the federal government," indicating that "the region will commit to reducing oil production."

He added, "He agreed with Prime Minister Mustafa Al-Kazemi to increase security coordination and dialogues between the Peshmerga forces and the Federal Ministry of Defense, in addition to an agreement to form 6 joint security points." He stressed, "linking the border crossings with a unified electronic system, with the formation of a special committee to combat smuggling at the border crossings," expressing his "optimism in agreement with Baghdad on a joint management of border crossings."

On financial reforms, the regional government head said, "11 industrial zones will be established in the region to revitalize the industrial sector, in addition to activating taxes on all companies operating in the region, especially mobile phone companies, in addition to other measures to overcome the financial crisis."

He explained, "The government was able to increase the hours of supplying electric power to 21 hours a day, and that the crisis we are going through is the Corona pandemic crisis, which is a global crisis."     LINK

DeepWoodz:  Kurds and Baghdad are in agreement! Awesome imo and MM will like this...

He stressed, "linking the border crossings with a unified electronic system,” imo

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MilitiaMan:  Fairly sure they are ready to roll now. They implemented the first step today. (See articles below)   Buna was launched in Feb, 2020.. CBI has warned banks with fines to no be short from the looks of it in the small categories notes. Why? They'll be needed, as they will be considered to be large in the future.. Make sure you have accurate accounts.. imo..

Yes, the borders will need to be linked accordingly for payments, taxes, tariffs, etc.. All neighbor countries are apparently interconnected by BUNA electronically..

The first steps was in classify the banks or imo interlink. They can talk to each other with the platform. They can use clear and settle multi - currencies.. It doesn't get much better than this now.

They cat is out of the bag now..

The CBI and the AMF are in kahoots.. lol Love it.. The reform paper has been completed. The are now implementing the steps by interlinking.. Oh ya!!

What's the next step? Well if they can talk to each other in culti- currencies, well they need to know what the rates for pairing them.. imo ~ MM

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MilitiaMan:  FINAL ARTICLE #279

The central bank imposes a fine on the shortage of small groups

Saturday 03 October 2020

The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1,000,500,250) dinars, starting from the date of October 1, 2020, according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting.

In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.

The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.

"Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.

On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.

The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.  LINK

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"Buna" which is a multi-currency payment platform, provides clearing and settlement services, in Arab and international currencies that meet the eligibility criteria related to the clearing and settlement of inter-Arab financial transactions, as well as transactions between Arab countries and their main trading partners.

https://www.amf.org.ae/en/content/arab-monetary-fund-announces-launch-buna-payment-platform-platform-serves-enhance

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5th October, 2020

The Central Bank begins implementing steps to reform the banking sector

 Today, Monday, the Central Bank of Iraq began implementing its first reform steps for the banking sector, as it finished classifying private, commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of standards approved by this bank   LINK:

DELTA: FROM IRAQI TV

 An informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed"

  "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation." 

"white paper will be presented to Al-Kazemi during this week and after that to the House of Representatives." 

 DELTA

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Saleh stresses the need to strengthen the country's financial position  and maintain the independence of the Central Bank  LINK

Samson:  Al-Kazemi reformatory paper is completed

5th October, 2020

An informed source stated that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, related to the economic situation that Iraq is going through, has been completed. The source said that “the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the Council. Representatives

He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."

The Minister of Finance, Ali Abdul-Amir Allawi, confirmed that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services.

Allawi said in a statement to the official agency, that “the budgets for the years 2021-2023, we started working on them now, but they will not be the main ones, because the Ministry of Finance is currently unable to implement it in a complete way, but it may be hindered for a year and a half so that we can move from the method of drawing the budget. Traditional to balance programs”.

He pointed out that "citizens will not respond to taxes, and they may have a justification, because the state does not provide them with the necessary services, so the level of taxes must be linked to services and their quality." He added, "Tax revenues constitute a very small percentage of the state's resources, which are not high if compared to any other country, as the tax structure is reasonable in Iraq." He explained, "It is assumed that we get 8 trillion dinars from taxes, while we are currently getting less than one trillion, because there are large exemptions and exemptions." He stated, "Iraq contains a kind of state seizure, as it is not necessary for this seizure to be by the parties, but it may be from all parties that have an influence and influence on the decision-making."    LINK

Iobey777:  Great news!! IMO, now SHOW IT TO THE CITIZENS!!...and the WORLD!

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KTFA Monday Night CC 10-5-2020

Frank26 and Team: Militiaman, Delta, Petra and Walkingsick

PLAYBACK IS: 605.313.5163 PIN: 156996#

Frank26:  10-5-20....M.R. CRYSTALIZED

https://www.youtube.com/watch?v=kXVX7GtGXUE

News from TNT and KTFA Late Thurs. PM/ Early Fri. AM

TNT:

Tishwash:  In the first economic impact after Trump was hit by Corona ... oil prices fell

Today, Friday, oil prices fell by about 3%, after US President Donald Trump said he had contracted the emerging coronavirus, amid economic concerns about crude demand.

By 11:20 Moscow time, US crude futures were trading at $ 37.66 a barrel, down 2.74% from the previous closing price.

Brent crude futures traded below $ 40 a barrel, at $ 39.80 a barrel, down 2.76% from the previous settlement price.

The US President said on Twitter that he and First Lady Melania Trump had tested positive for the new Corona virus, and that they would be quarantined.

Analysts commented on that, saying, "This may turn his campaign upside down," and the news could cause a new wave of volatility in the market as investors prepare for the presidential elections scheduled for next November.

For his part, Japanese Economy Minister Yasutoshi Nishimura said today, Friday, that the news of the US President's infection with the Corona virus has a great impact on financial markets

He expressed, during statements to reporters, his hope that Trump will recover quickly.  link

Tishwash:  What is the fact that 6 trillion dinars of Iraqi salary borrowing is missing?

The decision of the parliamentary finance committee Ahmed al-Saffar on Thursday revealed the fact that 6 trillion dinars of borrowing money allocated to finance employees' salaries has disappeared. 

"The parliament voted to borrow 15 trillion from Iraqi banks to finance the salaries of employees for the months of July, September and September at the request of the Ministry of Finance, but 6 trillion dinars of borrowing were not disbursed within the salary of employees, but may have been disbursed for emergency financial matters, debts or other part of necessity, which has not yet been revealed to us," al-Saffar told The Shafq News agency.

Al-Saffar denied any accusations by the Finance Ministry of overspending on borrowing, theft or corruption, stressing that the current finance minister is working professionally and academically as we have seen in recent periods.

Al-Saffar said Iraq's fiscal deficit was 3 trillion dinars a month, according to official figures.

"It's a matter of the Ministry of Finance and no rights will be lost to the employees, even though the ministry has not answered the questions yet," he said.

"Securing the salaries of the coming months will depend on new borrowing or the approval of the 2020 budget as soon as possible, despite the delay of the government sending the 2020 budget to parliament, and we are determined to approve it, but the budget has not yet reached us," he said.  link

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Tishwash:  BI, Chinese central bank sign local currency settlement agreement

Bank Indonesia (BI) and the People’s Bank of China (PBOC) signed on Wednesday a memorandum of understanding (MoU) to establish a framework promoting the use of local currencies for trade and direct investment. With the local currency settlement (LCS) agreement signed by BI Governor Perry Warjiyo and PBOC Governor Yi Gang, both central banks agreed to promote the direct exchange rate quotation and interbank trade for the Chinese yuan and the Indonesian rupiah. Going forward, the two central banks will strengthen the cooperation through regular information sharing and discussion.

“This collaboration marks a key milestone in strengthening bilateral financial cooperation between China and Indonesia,” reads a BI statement issued on Wednesday. “The authorities believe that it will positively contribute to encouraging the use of local currencies for settlement of trade and direct investment between the two countries.” Bank Indonesia has signed similar agreements with other central banks, namely Bank of Thailand and Bank Negara Malaysia, as well as with the Japanese Finance Ministry. The importance of LCS increases as trade between Asian countries grows, according to an earlier publication from BI.

Trading without having to go through the exchange rate of the United States dollar can result in a more efficient price. China is Indonesia’s largest trading partner. Indonesia’s non-oil and gas exports to China reached US$17.81 billion with imports amounting to $24.72 billion in the January–August period, according to Statistics Indonesia (BPS) data

This article was published in thejakartapost.com with the title "BI, Chinese central bank sign local currency settlement agreement".

Click to read: https://www.thejakartapost.com/news/2020/09/30/bi-chinese-central-bank-sign-local-currency-settlement-agreement.html.

KTFA:

Samson:  An arrest warrant for one of Abdul Mahdi's ministers ... a document

1st October, 2020

Al-Iraqi issued an arrest warrant for the Minister of Communications in the former Iraqi government headed by Adel Abdul Mahdi.

According to an official letter issued by the Baghdad Appeals Court / Federal Rusafa / Karrada Investigation Court, an arrest warrant was issued against the accused  Naim Thijail al-Rubaie, who is the former Minister of Communications in the government of Adel Abdul Mahdi.

According to the official arrest letter, the accusation against the former minister is to write a check without balance in accordance with Article 459 / penalties.   LINK

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Frank26:  10-1-20.......IMF... #1, #2 OR... #3

This video is in Franks Opinion

Streamed live 13 hours ago

https://youtu.be/fKFHn6gQVY4?t=4

Monday Night KTFA CC with Frank26 and Team 9-28-2020

KTFA:

KTFA Monday Night Conference Call 9-28-2020

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Frank26:  9-28-20 IMF AGREEMENTS

With Petra, MilitiaMan and Delta

A NEW UB2B WITH THE IQD UPDATE

https://www.youtube.com/watch?v=Hj2bbpnM9fk