MilitiaMan. Frank and KTFA Members Saturday PM 5-30-2020
.KTFA:
Samson: Parliamentary Committee: Ports will start a new financial phase starting in July
05/28/2020 19:20:26
A member of the Parliamentary Strategic Planning Committee, Kazem Finjan Al-Hamami, revealed that the Iraqi ports will start a new financial stage starting from the first of next July.
Al-Hamami said in a statement that the {Euphrates News Agency} received a copy of it. Al-Hamami added that "the Director General of Ports expressed his response to this appeal and expressed his oral approval through a telephone conversation with {Attorney Al-Hamami} this afternoon."
KTFA:
Samson: Parliamentary Committee: Ports will start a new financial phase starting in July
05/28/2020 19:20:26
A member of the Parliamentary Strategic Planning Committee, Kazem Finjan Al-Hamami, revealed that the Iraqi ports will start a new financial stage starting from the first of next July.
Al-Hamami said in a statement that the {Euphrates News Agency} received a copy of it. Al-Hamami added that "the Director General of Ports expressed his response to this appeal and expressed his oral approval through a telephone conversation with {Attorney Al-Hamami} this afternoon."
Al-Hamami pointed out that, "Maritime companies will have sufficient time to arrange their positions and organize their financial accounts that are supposed to be in harmony with the requirements of the new stage."
He concluded his statement by saying: The ports will witness a tangible development renaissance under the direct direction of the Minister of Transport and will have an active role in the development, modernization and is powerful imo.. The companies are told that they will have sufficient time to adjust to their financial accounts to be in harmony with the requirements of the new stage.
MilitiaMan: In other words we have your back, get your contracts (Financial new stage) ) in line as we are about to adjust pricing that is going to jump start the national economy with the new stage of rebuilding the country and the ports will be developed and modernized to handle the massive effort that will becoming in and out..
It is fairly obvious to me that this one is specifically telling us what to expect. They are on notice and give a time to the adjustment!! Contracts vary but, many clear after 30 days, so a contract June 1st might clear June 30 or July 1st real close.. The terms would be set at the on set not at the clearing.. If accurate the implications of this are powerful!
Samson: The disclosure of a crucial agreement between Erbil and Baghdad, pending the signature of Al-Kazemi in the coming days
11:07 - 05/30/2020
Kurdistan Democratic Party member Mahdi Abdel Karim revealed, on Saturday, the intention of the Kurdish forces to send a high-level delegation to Baghdad to discuss outstanding issues, noting that the final and comprehensive agreement between Baghdad and Erbil is complete and is ready for signature by Prime Minister Mustafa Al-Kazemi.
"The final and comprehensive agreement between Erbil and Baghdad is ready since December, but the launching of the demonstrations and the previous government submitting its resignation prevented the signing of the agreement," Abdul Karim said in a statement to the "information".
He added that "negotiations are currently taking place to re-sign the comprehensive agreement to resolve the budget crisis, borders, customs, federal revenues, peshmerga, agriculture and other files." Likely "the signing of the agreement by Prime Minister Mustafa Al-Kazemi in the coming days."
And Abdul Karim said, "A large Kurdish delegation will visit Baghdad in the coming days to put the final touches on the agreement as well as agree on completing the ministerial cabinet." LINK
MilitiaMan: Looks like crunch time is upon us. This article suggest coming days, yesterday it was within hours and another one suggests 2 days.
Regardless, speed is a necessity at this stage and the fact they are speaking to the ports about the new stage of financial adjustments in an article today are to be at hand now, not after the fact sometime in July.
They have the most important items all in one paragraph.. Budget, border crossings, customs, federal revenues, peshmerga, agriculture, etc.. They even told us they have had an agreement since last December. So with the new PM and the new stage approaching, I’ll bet this time they hammer it home!! I like it! ~ MM
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Samson: Excluding the central bank, Rafidain and Rashid banks, and spending units from the curfew
30th May, 2020
The Ministry of Finance announced today, Saturday evening, that the Central Bank of Iraq and the Rafidain and Rashid banks and spending units are excluded from the comprehensive roaming ban that will start tomorrow, Sunday and will continue until the sixth of next June
The Ministry said in a brief statement, "Gilgamesh Press" received a copy of it, that "Finance Minister Ali Abdel Amir Allawi, exempted the Central Bank and Rafidain and Rashid banks and spending units from the curfew
This is in order to continue to pay the salaries of employees and retirees LINK
MilitiaMan: It sure is nice to see this at this stage.. Banks are okay to do business.. Delta, perfect timing right? Lol
Samson: The Cabinet decides to reduce the salaries of the higher grades and opens the files of Rafha and residents abroad
30th May 2020
Today, Saturday, Prime Minister Mustafa Al-Kazemi directed reforms to achieve social justice, including lowering the salaries of higher grades in state institutions and tackling double salaries, in addition to a group of residents outside Iraq who are receiving other salaries
Al-Kazemi’s media office said in a statement, “Gilgamesh Press” received a copy of it, that the latter “chaired today, Saturday, the periodic meeting of the Financial Reform Committee, and the meeting discussed the repercussions of the financial crisis that the country is going through
Al-Kazemi directed, according to the statement, "to take a number of measures to address it, the most prominent of which is the reduction of salaries of higher grades in state institutions
The meeting discussed the repercussions of the financial crisis the country is going through, and directed the Prime Minister to take a number of measures to address it, the most prominent of which is the reduction of the salaries of the higher grades in state institutions
The statement emphasized in its conclusion that "Al-Kazemi also directed to make the necessary reforms in accordance with the principle of achieving social justice, through addressing double salaries, the pensions of detainees in Rafha, and a group of residents outside Iraq who are paid other salaries LINK
MilitiaMan: Another interestingly well placed and timed effort to adjust spending and cleaning up corruption through stoping double salaries.
Reducing salaries is interesting too. If you reduce salaries that wouldn’t really be fair. It would cause discontent and possible consequences that are unnecessary.
If we take the report earlier about the 14 page document about the CBI it states they speak in terms that are opposite to the world.. Unique? Looks to be the case. So, if we take that into consideration by reducing the salaries is merely imo giving less new currency to be equivalent to match present salary allocations thereby, being fair and easily done and understood. Double salaries are not fair and should by rights cease.
The articles are surely coming together to support Iraq has her new stage in full push mode now.. imo
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Samson: What Is Required Of Prime Minister Mustafa Al-Kazemi
30th May, 2020
It is no secret to anyone the size of the challenges and the gravity of the stage that Iraq is going through, and based on our constitutional and legal experience, I put in your hands the most important solutions, proposals or real demands for building state institutions from the legislative, executive and judicial authorities, to be a strategic or roadmap for getting rid of this dangerous juncture, two years ago Exactly,
I had written a letter to Mr. Abdel-Mahdi and told him (I have borne the weight of this great trust and have reached the age of old) and put him almost like an integrated map to come up with solutions for this country, but the man relied on the footnote, so he led us from disappointment to disappointment, and then he was blindfolded with his head Surgeries and failures of 17 years and concluded with bloodshed after the events of October 2019, and today, you have endured the trust of forty million Iraqis who are in your neck.
Although attack and resistance will be fierce on you from many sides, therefore I will place some of the concerns and problems that we discussed in a scientific and field manner, and without them will be failure, and you have enough time because I can assure that your government will remain until the end of the year 2022, and as follows: -
1 - There are thousands of properties belonging to the state in the heart of the capital and the provinces were seized after the year 2003, and here the President will have to issue courageous decisions to retrieve those properties lost to the state to restore Baghdad and the state to its prestige.
2- There are millions of sheets, sheets, evidence, and scenes from the homeless, orphans, days, bereaved, migrants, armies of the poor and sick, and Iraq is still up to this moment without a comprehensive social security law, and here you have to develop an integrated and unified strategy to unify the social security legislation to be a single institution called (Social Security Corporation) The retirement board, the Prisoners ’Foundation, and the Martyrs’ Foundation are merged with it so that the lives of Iraqis can be guaranteed with dignity and fairness in the distribution of salaries, and we have studies and a law proposal for that.
3- There are deliberate health ministries not to draft the health insurance bill, which has led to the exacerbation of mafias and gangs who trade in Iraqi medicine and drug import operations, so it is up to you from now to need to develop a comprehensive health insurance bill and send it to parliament, and we can help you with specialists in this field We have in-depth studies that we conducted with European organizations in order to stop the bleeding of the Iraqi disease and the drug donations.
4- In front of you the water crisis with Turkey, the draft law of the National Water Council must be sent to Parliament, and a committee of the Council of Ministers and the House of Representatives can be formed from experts to legislate this law because Turkey still threatens us with secret and publicity, and if the rest of the situation remains, we will threaten a catastrophic environment in the future.
5 - Before you pollute the environment with uranium that will kill the Iraqis during the coming years with cancer unless the international community is called upon and the global opinion is moved to compel the coalition countries to remove uranium, especially as we have strategic agreements with them .. Note. The compensation of Iraq amounts to one thousand billion, as well as the compensation from Israel for hitting the July reactor, which amounts to eighty billion. We have prepared reports in this regard with international organizations, knowing that there is a committee to demand compensation in the General Secretariat of the Council of Ministers, then you only support.
6- Before you hundreds of thousands of graduates annually, you must put firm decisions to include them with monthly salaries until they are employed or appointed, and it is imperative that you activate the Federal Service Council in order to be appointed to the state’s sects on the basis of equal opportunities, justice and experience, away from partisan and sectarian influences.
7 - There is a shortage of school buildings, the prevalence of clan conflicts and the bearing of arms, and the war of departments and wills ... all of which need a strategic plan with the assistance of researchers and specialists. All of us have to pause around ..
8- Reintroduce the Iraqi Supreme Criminal Court Law No. 10 of 2005 and start investigating crimes committed retroactively since 4/8/2003, whether crimes against humanity committed against Iraqis and demonstrators, as well as wasting national wealth and corruption crimes against senior officials, whether inside or outside Iraq, and issuing A decision prohibiting travel for all those suspected of corruption who held high office since 2003 during a period of six months until the investigations are completed.
9- Urgent and immediate issuance of stopping the expatriate workers from the Filipinos, Sri Lankans, Bengal and others, which reached more than two million and returning those present in Iraq to their countries within thirty days because their deportation and stopping this farce will provide work for the unemployed of the Iraqi youth, there are malignant hands behind this file ..
10- Presenting draft laws to merge the Ministry of Communications and the Communications Life into one ministry ... and to merge the Shiite and Sunni Waqf and other religions and the Hajj Commission into one institution that will be the Ministry of Awqaf and this will save huge funds.
11- Forming a supreme committee from a group of experts from the supervisory departments to review all contracts and investment contracts that took place during the period from October 2019 and to stop or cancel contracts that are tainted by corruption, and it is incumbent upon you to refer the president to submit a draft of the State Contracting Establishment Law to Parliament, and make all contracts in The hand of this institution and linking it to the Cabinet to stop the farce of the ambushes that take place in ministries and the influence of parties. I personally prepared this law and it was adopted by the head of the Parliamentary Services Committee, Dr. Walid Al-Sahlani in Parliament .. In addition to the need to proceed with the presentation of the draft law of the Council of Reconstruction.
12- Forming a committee with the help of experts and senior advisers from jurists and other specialties to prepare the final draft of the constitutional amendments and present them to Parliament ..
13- Foreign policy has suffered since 2003 from weak performance and confusion, which need to develop a comprehensive strategy and vision for diplomatic action and international relations and to reconsider diplomatic representation with countries of the world, and to issue a decision to form an investigative committee with all violations and violations committed in all Iraqi embassies, missions and consulates in all countries The world, as well as addressing obstacles and challenges in the center of the ministry, as well as the need to choose a list of ambassadors with competence and away from partisan influences ..
14- The capital, Baghdad, has suffered neglect and loss since 2003 due to the lack of clarity in the vision and the overlap in work between the governorate, the provincial council, and the Baghdad Municipality.
15- The fiscal and monetary policy is now subject to a major setback, you have to choose an independent person with expertise and competence to take over the management of the Central Bank of Iraq, and you have Dr. Sinan al-Shabibi or the appearance of Muhammad Saleh and others ..
16 - There is a big crisis with the region, financial belongings, great corruption and tragedy at the border crossings. You have to hold it with an iron fist from Zakho to Fao and set up an investigation committee with the looted funds since 2003.
17- Issue bold decisions to open and rehabilitate factories, develop agriculture, education, youth, sports, trade and the private sector through specialized committees in coordination with the relevant ministries ...
18- You have to stop the farce of the state administration by proxy, and there are many special grades that have been set in the period from October 2019 contrary to the law and instructions.
This is the most important requirement as a first package, and then another package that relates to state institutions follows, including the Integrity, Education, and Culture Authority, among others.
Mr. President: The people do not have to be a herd anymore, and another 35 years cannot wait until a new system, a new constitution, another abstraction organization is held, elections are held, the boxes are burned, burning with them continues years of life, and we return to our alienation in exile and the torments of the days that do not end .. LINK
Godlover: “15- The fiscal and monetary policy is now subject to a major setback, you have to choose an independent person with expertise and competence to take over the management of the Central Bank of Iraq, and you have Dr. Sinan al-Shabibi or the appearance of Muhammad Saleh and others ..”
Could this person be Tamimi IMO
Frank26: COULD IT BE ........... FAB4 ...........(wink)
(Fab 4...the IMF, World Bank, U.S. Treasury, and the President of the United States of America????)
KTFA Members "Saturday News" 5-30-2020
.KTFA:
Samson: The Supreme Committee: A comprehensive week-long curfew throughout Iraq starting on Sunday
30th May, 2020
An informed source said, on Saturday, that the Supreme Committee for Health and Safety voted to impose a comprehensive curfew for a period of 14 days, starting tomorrow
The source said, "The Higher Committee for Health and National Safety headed by the Prime Minister votes to approve the imposition of a comprehensive curfew in Iraq for a period of 14 days, starting on May 31st, on Sunday
On Saturday, the Supreme National Committee for National Health and Safety and the Parliamentary Crisis Cell held a joint meeting chaired by Prime Minister Mustafa Al-Kazemi
KTFA:
Samson: The Supreme Committee: A comprehensive week-long curfew throughout Iraq starting on Sunday
30th May, 2020
An informed source said, on Saturday, that the Supreme Committee for Health and Safety voted to impose a comprehensive curfew for a period of 14 days, starting tomorrow
The source said, "The Higher Committee for Health and National Safety headed by the Prime Minister votes to approve the imposition of a comprehensive curfew in Iraq for a period of 14 days, starting on May 31st, on Sunday
On Saturday, the Supreme National Committee for National Health and Safety and the Parliamentary Crisis Cell held a joint meeting chaired by Prime Minister Mustafa Al-Kazemi LINK
Don961: Parliamentary Finance: Al-Kazemi has the powers to cancel the currency auction
Policy 05/30/2020 15:18 28 Editor: gf
Baghdad today - Baghdad
Member of the Parliamentary Finance Committee, Hanin Qaddo, confirmed on Saturday (30 May 2020) that Prime Minister Mustafa Al-Kazemi owns the powers to cancel the foreign currency auction at the Central Bank .
Qaddo said in an interview with (Baghdad Today), that "the Prime Minister, has the powers to cancel or stop the auction of foreign currencies in the central bank."
He added, "This matter provided that it is attached to a study or documents proving the existence of money laundering operations, or corruption operations occurring during the sale operations," stressing "the need for the government and the central bank to control the exchange rate of the dollar against the Iraqi dinar in Iraqi markets."
Often, deputies from different blocs and components talk about the existence of major corruption operations that take place at the auction of currency sales by banks and personalities accused of money laundering operations .
A member of the mini-parliamentary committee concerned with following up the implementation of the budget, Abdul Hadi Al-Saadawi, spoke Monday (July 08, 2019) about the exit of the currency auction from the control of the central bank, while the latter sold $ 150-200 million on a daily basis .
Al-Saadawi said in a press statement, that "there are problems and irregularities recorded on the sale of the currency by the central bank, as well as the currency exchange rate, which is often mobile and unstable in most cases," noting that "any candidate for the position of the governor has to sit with the parliamentary finance to discuss These two things . " LINK
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Don961: The Remaining Kuwaiti Debt Owed By Iraq Amounts To $ 2.8 Billion
May 30, 2020
Kuwaiti diplomatic sources commented on the rumors about Kuwait forgiving Iraq's remaining debts, linked to compensation for the invasion of the previous regime and the postponement of other payments.
The sources told the newspaper, "An-Nahar" that the Iraqi Minister of Finance submitted during his recent visit to Kuwait, on behalf of his country's government, to postpone the payment of the remaining debts for a period of between one or two years, given the economic conditions imposed by low oil prices as well as the repercussions of the spread of the Corona virus, noting that the request It is still under study and has not yet been decided by the government. ”
The sources pointed out that Iraq had paid Kuwait a portion of the debts last April, at a value of 440 million dollars, explaining that the total value of the remaining debt amounted to 2.8 billion dollars.
The former Kuwaiti MP, Abdul Hamid Abbas Dashti, wrote yesterday, Thursday, that his country exempted Iraq from debts amounting to 3 billion dollars, and decided to postpone further payment.
Dabshi wrote in a tweet on Twitter, "Congratulations for Iraq, to exempt debts of $ 3 billion due to Kuwait, and to postpone a debt of $ 1.6 billion."
Neither Kuwait nor Iraq has formally announced the existence of such an agreement between the two countries, as was previously the practice.
And Finance Minister Ali Allawi, who is also Deputy Prime Minister and Acting Oil Minister, suggested that Kuwait postpone about $ 3 billion of Iraq’s debt related to the Gulf War compensation (1990-1991), when the ousted President Saddam burned Kuwait’s oil fields at the time. LINK
Samson: A parliamentary committee discloses the size of Iraq's external debt and recommends negotiation
30th May 2020
Jamal Cougar, a member of the Finance Committee in the Iraqi parliament, today, Saturday, called on the Iraqi government to form negotiating delegations to postpone the payment of Iraq’s foreign office.
Cougar told Shafaq News that, "According to the 2019 budget, the foreign office in Iraq was more than $ 15 billion, and we, as a financial committee in the Iraqi parliament, have called on the Iraqi government to form negotiating delegations to request from countries that ask Iraq for funds to postpone payment." Those debts are due to the financial and economic circumstance that the country is going through. "
And between "We asked the Minister of Finance Ali Allawi, to come to the Iraqi parliament, for the purpose of informing us of the files he discussed during his visit to Saudi Arabia and Kuwait, and other files, but he told us that I am still new asked to give a deadline, then sit with him, and we appreciated this request."
Iraq suffers from a financial crisis caused by the collapse in oil prices and the loss of more than 50 percent of its value due to the Corona pandemic, which has paralyzed the global economy.
Iraq relies on the proceeds of the sale of oil to finance about 95 percent of the country's expenditures.
Proceeds from the sale of oil gradually decreased in recent months to 1.5 billion dollars last April, compared to about 3 billion in March and about 5 billion in February. LINK
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Don961: Economic reform
Praatha News Agency102 2020-05-29 Khalid Al-Qaisi ||
Why not get the looted money from the thousands who live the best of life abroad?
When does the good news come to a process of real economic reform in the country, and it is going like someone harvesting algae that are spread in a crowded density in a deep river, or like cigarette smoke that climbers dream about.
A few are fighting the ugliness of the corrupt.
This is known to people who have no idea that the whales of corruption are the cause of economic collapse and the arrival of the treasury To the brink of bankruptcy, many parties are aware and aware of the details of the names of the corrupt wolves who wore the chastity dress and moved away from the country away from questioning or at least from the eyes of where you got this.
We are in the recovery room from the darkness of the salaries of the three presidencies, the special grades, the advisers and their weeks of surplus episodes. Our land and the world invaded the epidemic of Corona, the epidemic that caused a great economic stagnation and a sharp drop in oil prices, the main source of Iraqi income, which made the citizen sit in his home for fear of the corona that created The atmosphere of fear of injury and the spread of disease, and if we accept these precautionary measures until crossing this critical stage, the question that arises and circulates by people i.e. the daring of her retired job and the simple employee is frustrated by the fear of news that manipulates his feelings, withholding part of the salary, stopping the salary for the next month, compulsory saving And the salaries of retirees and employees are insured for the end of the year !!
Who is creating these additional disturbances and the government is bustling with economic advisers?
The solutions are clear and the government's seriousness remains in dealing with out of the cash crisis.
It has become usual for those who come to threat and fear that securing livelihood on the palm of a puck, until the tone of the beautiful and nostalgic time has returned to the system of authoritarianism and tyrants (killers of the soul, family and companions) is the shield of sins and the sword of the executioner that some lean on their lips to compare between the provisioning of the decimated system and reaching our tail Countries of the world in corruption.
Any citizen has the right to wonder why the stolen money is not returned?
And what logic is blessed with the wealth of the country, thousands in Jordan, Egypt, the Emirates, Dubai and many European countries, and belittles the citizen who bears the hardships of life at home and reached his fight against his livelihood, and why the failure to collect the region's revenues from the border outlets and airports and the traffic and commodities fees and oil exported to abroad without the state’s flag and sell it even To Israel without meeting any penny of the state treasury, and the most important thing is to secure the salaries of their employees and their company from the federal state !!
The government should pay attention to twisting arms in the negotiations of their delegations negotiation in the illegal acquisition of funds and positions.
The government is concerned with verifying corruption networks for all ministries and governorates, adopting the statements of the Integrity Commission, and national press reports that have adopted this path and honorable representatives who have corruption files on many people, if justice is to be achieved and the country and the simple citizen are anchored to the safety scene. link
Samson: The Security Council extends the mandate of UNAMI in Iraq
30th May 2020
The UN Security Council passed a resolution to extend the mandate of the United Nations Mission in Iraq (UNAMI) until the end of May next year.
The Security Council issued a statement after a session held by a television station regarding the decision submitted by the United States of America, which provides for the extension of the mandate of the United Nations Mission in Iraq "UNAMI", until May 31, 2021, after the mandate of "UNAMI" was scheduled to end late This May.
And "UNAMI", a political mission established by Security Council Resolution 1500 in 2003 after the American occupation of Iraq.
According to previous Security Council resolutions, it defines the tasks of the head of the UNAMI mission to Iraq by advising Baghdad on supporting an inclusive political dialogue and assisting it in setting the necessary procedures for holding elections and referendums in the country.
It also authorized the Special Representative of the Secretary-General and the Mission to provide advice, support and assistance to Iraq on promoting a comprehensive political dialogue for all and promoting reconciliation at the national and community levels, and to advise the Government of Iraq and the High Electoral Commission on setting the necessary procedures for holding elections and referendums, as well as advising the Government of Iraq And the House of Representatives on reviewing the constitution and implementing constitutional provisions, as well as on setting procedures that the government of Iraq accepts to settle the issue of disputed internal borders. LINK
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Samson: No funding anymore ... Trump ends America's relationship with global health
29th May 2020
US President Donald Trump announced Friday that the United States will end its relationship with the World Health Organization after the latter failed to implement reforms to the way it manages the Corona crisis
The United States has more than once expressed its concerns about the way the WHO manages the Corona crisis and its failure to early warning of the disease and its bias towards China
"Because they (WHO) failed to implement the much needed reforms, today we will end our relationship with the organization and we will redirect these funds to other countries around the world and other global health needs that they need," Trump told a news conference Friday
Trump earlier this month announced a freeze in US funding to the World Health Organization, while it is a major contributor to donations to the organization
The World Health Organization has faced increasing criticism from American conservatives for its response to the emerging Corona crisis
Critics blamed the organization for leaving other countries unprepared to cope with the epidemic, while some saw that the organization had helped China conceal the extent of the disease within its borders
MilitiaMan and KTFA Members Thursday PM 5-28-2020
.KTFA:
Don961: The introductions of the dollar’s collapse are beginning towards the new economy
27/05/2020
Dr.. Ibrahim Al-Shammari *
The world is entering the penultimate stage of the great economic meltdown, which is a reversal called the new economy, in the light of which the centers of economic power in the world will change for reasons, most notably the accelerating technological development, the Corona pandemic, the economic recession that swept the world, and the rise of global debt to more than (350) trillion dollars After the global national product reached nearly (85) trillion dollars, as all the great countries became indebted to each other, and this heralds an inevitable economic crisis that will affect the great countries of the world.
KTFA:
Don961: The introductions of the dollar’s collapse are beginning towards the new economy
27/05/2020
Dr.. Ibrahim Al-Shammari *
The world is entering the penultimate stage of the great economic meltdown, which is a reversal called the new economy, in the light of which the centers of economic power in the world will change for reasons, most notably the accelerating technological development, the Corona pandemic, the economic recession that swept the world, and the rise of global debt to more than (350) trillion dollars After the global national product reached nearly (85) trillion dollars, as all the great countries became indebted to each other, and this heralds an inevitable economic crisis that will affect the great countries of the world.
To go into this field requires us to refer to the Bretton Woods agreement that was concluded in the United States of America in the year 1941 , in which the US dollar exchange rate was fixed against gold, where the price of an ounce was $ 35, then the currencies of the countries were fixed against the US dollar, And not allowing the currency exchange rate to fluctuate more than (2%) up and down from the fixed value against the dollar, and thus the system is similar to the gold standard and is sometimes described as the gold exchange standard and some countries imposed trade restrictions to protect reserves and exchange rates, so the currencies of most countries It was still essentially non-convertible until the late 1950's, exchange restrictions were removed and gold became an important component of international financial settlements .
But the rule of gold exchange had a weak point represented in patterns of prosperity - distress, with the strengthening of the economy may import a lot before the stock of gold required to support the currency decreased, as a result of that the flow of money decreases and interest rates escalate and the economic activity of the recession point leads and these moves led to The instability of the Forex price, which was strengthened by (Burton Woods) and in (1971) the United States abandoned (Burton Woods) so that it is no longer possible to exchange the dollar for gold and the power of supply and demand dominated the currencies of the major industrial countries that are now freely traded.
The successive economic developments in the world made the United States the first economy globally, but today, many countries are trying to achieve economic power through controlling energy centers and keeping pace with the technological development that led the United States to take incorrect steps that lead the dollar to collapse sooner or later, most notably The price of gold has risen dramatically and continuously, the US dollar continues to decline, and the end result of the dollar's increasing decline against the euro and gold will be the collapse of the dollar as a complete collapse, as many currencies before it have collapsed when conditions are prepared for it.
As the great decline of the dollar by (40%) in the last two decades, where the easiest way to bridge the deficit in the United States was to print more dollars and the greater the printing of the dollar, the lower its value (its purchasing power), and the huge deficit in the American trade balance because imports are more than exports. The deficit that exceeds (3) trillion dollars constitutes a great pressure on the dollar. The increase and increase of pumping money not covered by goods will inevitably destabilize the currency rates and the collapse of the currencies of the countries that won the "race to print currencies", including the dollar and the euro.
In the past, the dollar was a safe currency because of its stability and its dependence on the gold base. Today, dollar owners are re-calculating them due to its steady decline and the cracking of the American economy.
Yes, there may be short recovery, but the end result is that the world is heading for the best and strongest according to the theory of natural selection, and this is what the compass directs towards the Chinese yuan, which is likely to be a well-studied jump due to the great strategic alliances that China is undertaking with India, Pakistan and other countries. Another to create a common market is in the currency (yuan).
* Dr. Ibrahim Shammari Lecturer in School Imam Kadhim"p"
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Samson:: Kuwaiti Prime Minister: We have no cash to pay the salaries of next June
28th May, 2020
Kuwaiti Prime Minister Sabah Al-Khaled stressed that the country's economic situation is good now in terms of classification and solvency, but the government has no cash to pay the salaries of next June
The Kuwaiti newspaper "Al-Jarida" stated in a news seen by "Al-Iqtisad News" that "during the extended governmental-parliamentary meeting, which was chaired by Speaker of the National Assembly Marzouk Al-Ghanem, and attended by 6 ministers and 32 deputies, this was an opportunity to pass this law." That is the case in the Gulf states, and we do not even tend to liquidate assets. Do you accept that
Al-Sabah added, "The country's economic situation is good now in terms of classification and solvency, but the government has no cash to pay the salaries of next June
Regarding the return to work in government institutions, the newspaper quoted Al-Khaled that the National Assembly was informed that the vortices will return starting next Sunday with a capacity of 30% LINK
Don961: After Allawi's visit to his country ... a former Kuwaiti deputy talks about "exempting Iraq" from debts of $ 3 billion
Policy 05/28 2020 09:27 1902 Editor: am
Baghdad today - follow up
The former Kuwaiti MP, Abdul Hamid Abbas Dashti, revealed, on Thursday (28 May 2020), that his country exempted Iraq from debts amounting to 3 billion dollars, and postponed other payments.
Dashti wrote in a tweet on the Twitter site and followed it (Baghdad today): "Congratulations for Iraq, to exempt debts of $ 3 billion due to Kuwait, and to postpone a debt of $ 1.6 billion."
He added, "They deserve (deserve) our people in Iraq, and we hope that the Kuwaiti people will enjoy the same treatment."
Neither Kuwait nor Iraq has formally announced the existence of such an agreement between the two countries, as was previously the practice.
The Iraqi Minister of Finance, Ali Allawi, had said, after his visit to Kuwait, that he had proposed that "Kuwait postpone or cancel about 3 billion dollars due to Iraq on compensation for the 1990-1991 Gulf War."
Allawi said: "This will help the flow of liquidity significantly, in addition to other measures that would help stabilize the situation . "
Iraq had stopped making payments in 2014 during the war against ISIS, who controlled a third of the country but resumed in 2018, and now, 3% of oil export revenues go to Kuwait, which is also suffering from low oil prices .
And Iraqi Finance Minister Ali Allawi began a Gulf tour last Friday in an effort to secure sums to avoid the country from defaulting on the salaries of millions of employees in the wake of the collapse of crude oil prices. LINK
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Don961: One of the proposals to face the crisis
What does it mean to reduce the Iraqi dinar price against the dollar? .. An economist answers
2020.05.28 - 16:16
Baghdad - people
On Thursday, economist and academic expert Nabil Al-Marsoumi expected a set of results if the proposal to reduce the price of the Iraqi dinar against the dollar was applied to counter the financial crisis.
"If the Iraqi dinar exchange rate is reduced substantially by 25%, for example, the economies of some of the countries neighboring Iraq that export to it more than 20 billion dollars will be severely damaged," said Al-Marsoumi, an academic at the University of Basra. Annually, because the cost of its exports to Iraq will become high and its competitive capabilities in the Iraqi market will decrease, which is an important brake on taking this type of policy due to the strong influence that neighboring countries possess in Iraq.
He added, "Given the lack of flexibility of the production base and its limitations in Iraq, the prices of imported goods will rise in the short term, especially, but in the medium and long term this may constitute an incentive to activate the role of the private sector in establishing projects producing consumer goods, especially food, to cover the needs of the Iraqi market, which will lead to lower prices. Later".
He continued, "The government revenues denominated in the Iraqi dinar will increase by the same percentage of the dinar price, which will increase its ability to cover public expenditures and maintain the cash reserves of the Iraqi Central Bank from erosion."
He pointed to another point which is that "putting an end to the flight of capital in view of the low value of the dollar in the face of the dinar, as well as reducing Iraqi investments abroad, especially in real estate and reducing Iraqi deposits in foreign banks, as well as the relative reduction of money laundering operations in Iraq."
In this regard, the decree expected that "reducing foreign labor in Iraq, as work becomes less feasible on the one hand, and foreign labor becomes more expensive compared to national employment." LINK
MilitiaMan: Gotta love the education they are doing. The explanation of the choices both good and bad.
Keep in mind they have some very bright minds from very large entities, that are banking like us they make good choices. Imo
They will make the right choice and they have been telling us about it for in recent terms that last 60 days real close. The can expect results from the choices they make.
Firstly they suggest if they reduce the value of the IQD, that would cause inflation and cost more for imports and that Iraq will be less competitive.
Then on the other hand if they reduce the amount of IQDs to by the dollar that will create the environment needed for a new market economy to grow and prosper internally.
With that said, they amount of countries coming into Iraq now shows that the doors are about to fully open and they are gearing for to have the CBI share with the world and the Iraqi's, as to what they can expect when the exchange rate changes.
I suspect those that have a need to know will have been all ears by now.. So I am surely liking what I have been told would come is coming.. Very good article Don961!! You and Samson are bright stars in my book! ~ MM
KTFA Members "News and Veiws" Wednesday PM 5-27-2020
.KTFA:
Don961: Disclosure of the date of the arrival of the budget law 2020 to the Iraqi parliament
Policy 05/26/2020 23:30 1093 Editor: amm
Baghdad today - Baghdad
A member of the government program and strategic planning in Parliament, Hassan Al-Masoudi, revealed today, Tuesday, the date of the arrival of the 2020 budget law to parliament, to impose his reading and voting on it.
Al-Masoudi told (Baghdad Today) that "the 2020 budget law will reach the Iraqi parliament immediately after the end of the Eid al-Fitr holiday," noting that "drafting and preparing the law is exclusively a task of the cabinet, and there is no participation of the parliament, But after reaching parliament, there will be a role for the relevant parliamentary committees, to give their comments on the law and to amend what they see appropriate. "
He added that "if the budget arrives, the parliament will hold its sessions in order to read the law and then vote on it, despite the existence of the Corona virus epidemic, there is a determination to pass the budget quickly upon its arrival to Parliament."
KTFA:
Don961: Disclosure of the date of the arrival of the budget law 2020 to the Iraqi parliament
Policy 05/26/2020 23:30 1093 Editor: amm
Baghdad today - Baghdad
A member of the government program and strategic planning in Parliament, Hassan Al-Masoudi, revealed today, Tuesday, the date of the arrival of the 2020 budget law to parliament, to impose his reading and voting on it.
Al-Masoudi told (Baghdad Today) that "the 2020 budget law will reach the Iraqi parliament immediately after the end of the Eid al-Fitr holiday," noting that "drafting and preparing the law is exclusively a task of the cabinet, and there is no participation of the parliament, But after reaching parliament, there will be a role for the relevant parliamentary committees, to give their comments on the law and to amend what they see appropriate. "
He added that "if the budget arrives, the parliament will hold its sessions in order to read the law and then vote on it, despite the existence of the Corona virus epidemic, there is a determination to pass the budget quickly upon its arrival to Parliament." LINK
Iobey777: IMO..it seems there is still a note of Urgency here!! Go ahead and pass it quickly... but it will still need a new rate to implement it...IMO!!
Edna: okay, I'll ask the obvious question, Can someone please tell me When Eid al fitr is over?
Samson: I believe tomorrow (Thursday in Iraq) is the last day of Eid
Samson: How does technology change the most prominent traditions of Eid?
26th May, 2020
One of the important customs that relatives and relatives practice on the Eid is the Eid gift, or what is known as the "Eid
The atmosphere for this holiday differed, and in light of the procedures and precautionary measures to limit the outbreak of the Corona virus, the competent authorities in the Emirates advised to reduce the use of banknotes when distributing the Eid during the Eid period
Some studies have indicated that the virus may be transmitted through the circulation of fiat currencies in the absence of hand washing. The majority of the people to whom Eid is distributed are children and young adults who may not be aware of the risks of spreading the virus or are eligible to take the necessary precautions
In view of the individuals’ inheritance in their homes and the practice of social divergence, some countries have allocated electronic applications and means as an alternative that allows individuals to share the joy of the holiday remotely and transfer cash amounts without the need to trade in paper currencies
Among these applications is the "STC PAY" application in Saudi Arabia, which allows sending cash and prepaid gift cards
In the Emirates, the General Authority allocated a list of 23 digital applications to banks operating in the country, in addition to 10 applications related to electronic wallets through which "Eidia" can be transferred
In Kuwait, Adityati service, which follows the same system, is dedicated. Other countries also allowed Eidiya to be sent using mobile banking applications LINK
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Samson: Vietnam ready to be world’s factory, but is the world?
25th May 2020
Việt Nam attracted US$12.33 billion worth of foreign direct investment in the first four months of 2020, a year-on-year decrease of 15.5 per cent due to the impact of the COVID-19 pandemic, according to the Foreign Investment Agency.
But the figure was much higher than that in the same period in 2018 and 2017, when FDI was only $5.8 billion and $9.2 billion, it said.
The four-month period saw 984 new foreign projects licensed with a total capital of $6.78 billion, down 9.1 per cent in terms of number of projects but up 26.9 per cent in value. Many experts said, however, the country’s FDI flows had shown some signs of a “break-out”.
Việt Nam’s successful control of the pandemic has been one of the main reasons for attracting foreign investors, according to the experts. Many of them are possibly those fleeing China due to rising labour costs and the US-China trade war, which is being escalated due to the pandemic. But Việt Nam has in recent years seen the arrival of many foreign manufacturers from China, including many Chinese.
For instance, in 2018 Korean giant Samsung and Japan’s Olympus closed their factories in Shenzhen in southern China and moved bag and baggage to Việt Nam. The former has already invested billions of dollars in building a grand manufacturing base in the Sài Gòn High-tech Park in HCM City. The park has also attracted huge investments from other high-profile tech giants like Intel, Schneider and Jabil.
Earlier, in 2015, Microsoft had moved its Nokia manufacturing from Bejing to Hà Nội. Now, amid the escalating US-China trade war and the Covid-19 pandemic, the US wants to bring high-tech manufacturing back home. To do this, it will have to revamp global supply chains.
Besides, multinationals have been moving from China to other countries to avoid the higher costs due to the US tariffs on Chinese exports. Việt Nam is among the countries they are moving to.
Besides low labour costs, the country also has other advantages that help it attract global firms, including a young population, a supportive policy environment and sustainable economic growth.
Nguyễn Đình Cung, member of the Economics Advisory Group to the Prime Minister, also pointed out another important reason for global firms’ switch to Việt Nam: They want to diversify supply chains to reduce reliance on a few markets.
What should Việt Nam do?
Analysts said when the US-China Trade War broke out, Việt Nam was expected to become a new regional manufacturing hub since many global companies seemed interested, but things have panned out otherwise. Markets that create good financial efficiency for investors and enable low costs attract foreign investors, according to the analysts.
Việt Nam has yet to meet these conditions and if it wants to attract foreign supply chains it would have to do so and more. They stressed the need for the country to soon restructure its economy to improve its competitiveness.
It would also need to have an industrialisation programme for 2021-30 to enable its firms to enter global supply chains.
Trần Toàn Thắng of the Ministry of Planning and Investment said it was very important for a country to attract foreign investors, but keeping them, especially large firms, is much more important. Incentives like tax and land rent waivers and low labour costs could attract them at first, but these would not be enough to keep them, he said.
To keep them would require a country to have an open and transparent business environment, a modern and well-linked transport system and a comprehensive and reliable legal system that is in line with international rules. "High-quality human resources, a large domestic market with a growing middle class and supply of supporting industries for foreign businesses are also imperative," he said.
Retail investors keep corporate bonds going
According to a recent report by the Ministry of Finance, corporate bond issuance increased sharply in April to VNĐ30.12 trillion (nearly $1.4 billion). The figure for the entire first quarter was only VNĐ35.55 trillion ($1.54 billion).
A highlight has been the increased buying by individual investors, not only in April but also earlier, the report says.
In the first quarter their buying doubled year-on-year to 20 per cent. They bought more than VNĐ9.5 trillion ($404.9 million) worth, with domestic investors accounting for almost the entire amount.
Analysts attributed the interest to the increasing coupon rates for many of the bonds and a simultaneous decrease in bank deposit interest rates at a time when all other asset classes were hit by the effects of the COVID-19 pandemic.
According to SSI Securities Corporation, in the first quarter of the year the interest rate on corporate bonds averaged 10.4 per cent, 1.57 percentage points higher than the average rate. In March the State Bank of Việt Nam (SBV) decided to cut many key interest rates in an attempt to support the economy, which was hurt by the outbreak. The refinancing rate was cut by 1 percentage point to 5 per cent, and the discount rate by half a percentage point to 3.5 per cent.
The overnight lending rate in the inter-bank market was also adjusted down to 6 per cent from 7 per cent, and the open-market-operation (OMO) rate, to 3.5 per cent from 4 per cent. The central bank also reduced the cap on the interest rates on đồng deposits and loans by 0.25-0.5 percentage points, depending on the tenor. After the central bank’s moves, many banks cut their deposit interest rates significantly even as credit growth slowed down sharply.
Private banks such as VPBank, MBBank, ACB, and Viet Capital Bank reduced their interest rates by 0.2-0.7 percentage points. At VP Bank, the interest rate on six-month deposits stands at 6.6 per cent now and on 12-month deposits, ranking from 6.7 to 7.2 per cent per year.
Vietcombank, the largest State-owned lender by market cap, lowered its deposit interest rates by 0.2-0.3 percentage points for periods of six months and more.
The cuts came amid bank credit growth in the first quarter of only 1.1 per cent compared to 2.28 per cent in the same period last year as many businesses scaled down or stopped operations, experts said.
Bảo Việt Securities Company said the corporate bonds were expected to continue attracting individual investors since their interest rates were quite high and bank deposit interest rates were expected to fall further since the central bank planned to further cut key interest rates in the coming months.
Property companies like Phú Hưng Real Estate Investment JSC, Paradise Bay Resort Company Limited and Hải Phát Investment JSC offered coupon rates of 11-13 per cent. TPBank and MB Securities made issuances at 8.5-9.5 per cent.
The Hà Nội Stock Exchange said in fact retail investors were keeping the corporate bond market afloat.
But experts warn the retail investors about the possible risks, saying they should not buy corporate bonds just for high interest rates without paying attention to their potential and the possible risks. LINK
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Samson: Vietnam needs to change its ways to attract FDI leaving China: experts
25th May, 2020
Việt Nam has some great advantages while competing with regional countries in attracting capital flows moving out of China after the COVID-19 pandemic, experts have said.
A report by SSI Research said foreign projects set up in industrial parks in the country were up 32 per cent year-on-year in the first four months of the year to US$9.8 billion.
The pandemic has shown that many large countries’ supply chains are heavily dependent on China, and they have taken drastic steps to cut this dependency.
Many large US, Japanese and European companies are gearing up to shift production away from China. Việt Nam is one of their destinations besides some others in the region such as Indonesia, Thailand and Malaysia.
"Compared to Indonesia, which directly competes with Việt Nam in attracting FDI, Việt Nam has the advantage of proximity to China,” the report said.
“Việt Nam also offers support to businesses, with many incentives for large FDI projects, and has a lot of free trade agreements in which Indonesia does not participate. Recently the Vietnamese đồng has been very stable compared to the Indonesian rupiah."
Nguyễn Văn Toàn, vice chairman of the Việt Nam Association of Foreign Investment Enterprises, said the opportunity to attract the FDI wave looking to relocate from China is quite clear, but not really big, and whether the opportunity can be grasped depends largely on Việt Nam. "We also need to be aware that investors will not easily pull out all investment from China because that country has great advantages such as a strong work force, good use of technology and products for all market segments, not just the affordable segment."
Việt Nam would face difficulties in competing with so many rivals to attract a part of the capital flows moving out of the neighbouring country, he said. Experts agreed that to compete in the race, the country would need to change its way of attracting FDI and quickly.
Phan Hữu Thắng, former director of the Foreign Investment Agency, said, “[We] will fail if we try to attract foreign investment in the traditional way. “For example, India has immediate policies to allocate land, prepare infrastructure, identify potential investors to approach, announce tax reduction plans ... Investors are gearing up to shift their production. If we continue to act slowly, we will miss an opportunity that comes once in 100 years.”
Toàn said Việt Nam needed to further improve its business and investment environment and administrative procedures. He believes that HCM City, which leads the country in FDI attraction, has all the conditions and capacity required to make good use of this opportunity. LINK
Don961: : Trump officially announces the withdrawal of American soldiers from Afghanistan
Policy 05/27 2020 15:06 328 Editor: hr
Baghdad today - translation
US President Donald Trump announced, on Wednesday (May 27, 2020), the withdrawal of the soldiers of the United States of America from Afghanistan, after 19 years of their presence there.
"We are behaving like a police force, not as a fighting force in Afghanistan, as we are," Trump wrote on his Twitter account.
He added: "After 19 years, it is time for their country police."
The American president added: "Bring our soldiers home, but watch closely what is happening and strike with thunder as never before, if necessary!"
In implementation of the first phase of the agreement signed between Washington and the Taliban, the United States began withdrawing a number of its soldiers from two bases in southern Afghanistan, on March 10.
The US military is deploying between 12 and 13,000 troops in Afghanistan and will have to reduce these numbers to 8,600 by mid-July.
The US military began withdrawing from two bases in Afghanistan as part of the implementation of the first phase of an agreement the United States signed with the Taliban in Doha. LINK
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Don961: Iran .. a 4-magnitude earthquake hits the outskirts of Tehran
Localities 05/27 2020 19:52 81
Baghdad today - Baghdad
Iranian media reported on Wednesday that an earthquake measuring 4 on the Richter scale hit areas in the east of the capital, Tehran.
Initial reports indicated that "the tremor struck areas of Samnan, Damavand, Bardis and Fairuzkuh."
The seismological center affiliated to the Geophysical Institution at the University of Tehran stated that "the epicenter of the earthquake was the outskirts of Damavand at the administrative borders between the provinces of Tehran and Mazandaran."
He continued, "The tremor occurred this afternoon, and was at a depth of 12 km from the surface of the earth."
Residents of cities near the Al-Haza area confirmed that they felt it, while no casualties or damages were announced. LIN
KTFA Members "News and Veiws" Monday 5-25-2020
.KTFA:
YoungSC: As Frank stated on Fridays YouTube Iraq is article 8 and we will see the REER posted soon based on Iraq's meeting with Saudi Arabia. Having the open market and opening their country for investment
MilitiaMan: What it looks like is there was a notice given on the 19th. Then, moving along from that, banks are closed and a holiday ensues for five days to mark Eid Al-Fitr a time of giving. The mask of Covd-19 is in play.. Nothing like a plan-demic to hide what is in plain site. Very well orchestrated on many fronts. The one front that will usher our win, is what we await on now. imo. No turning back once one jumps from the deck! That is were they are, in the air imo.. lol MM
KTFA:
YoungSC: As Frank stated on Fridays YouTube Iraq is article 8 and we will see the REER posted soon based on Iraq's meeting with Saudi Arabia. Having the open market and opening their country for investment
MilitiaMan: What it looks like is there was a notice given on the 19th. Then, moving along from that, banks are closed and a holiday ensues for five days to mark Eid Al-Fitr a time of giving. The mask of Covd-19 is in play.. Nothing like a plan-demic to hide what is in plain site. Very well orchestrated on many fronts. The one front that will usher our win, is what we await on now. imo. No turning back once one jumps from the deck! That is were they are, in the air imo.. lol MM
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Monday Conference Call: 605-313-5164 PIN: 156996#
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Samson: Iraq requests the postponement or cancellation of Kuwaiti debts amid Saudi-UAE terms
25th May 2020
An American newspaper reported today, Monday, that the Iraqi government began resorting to Saudi Arabia and Kuwait to resolve the economic crisis after the drop in oil prices, noting conditions imposed by the UAE and Saudi Arabia regarding the relationship with Iran.
The Wall Street Journal said that under the pressure of low oil prices and the economic crisis resulting from the outbreak of the Corona epidemic, it seems that Iraq has sought refuge with its Arab neighbors to solve this crisis, so it sought to reduce the debt burden prescribed to Kuwait, and moved to strengthen relations with the Kingdom of Saudi Arabia.
Finance Minister Ali Allawi, who is also Deputy Prime Minister and Minister of Oil of the Agency, said that he suggested that Kuwait postpone or cancel about 3 billion dollars due to Iraq over compensation for the 1990-1991 Gulf War.
Iraq had stopped making payments in 2014 during the war against ISIS who controlled a third of the country but resumed in 2018, and now, 3% of oil export revenues go to Kuwait, which is also suffering from low oil prices.
Allawi said: "This will help the flow of liquidity significantly, in addition to other measures that would help stabilize the situation."
And Iraqi Finance Minister Ali Allawi began last Friday, a Gulf tour, in an effort to secure amounts that the country avoids paying the salaries of millions of employees in the wake of the collapse of crude oil prices. Allawi met the Saudi finance, energy and foreign ministers in Riyadh, and appealed to them "for urgent financial support to Iraq so that the government can fulfill its promises to its employees," and he also met with a number of officials in Kuwait and the UAE.
Iraq may have avoided a major outbreak of the coronavirus, recording only 150 deaths, but it faces an economic crisis as the epidemic increases the demand for oil, whose revenues account for 90% of the state’s budget.
Allawi pointed out that Iraq is seeking to revive the proposed Saudi investments in the sectors of electricity, communications and agriculture, and to eliminate bureaucratic obstacles to commercial projects, adding that while Baghdad did not request budget support in the short term from Riyadh, it might do so within three or four months. He explained: "We are now under severe financial pressure, and this generates a review of some of the original options that we have taken or that have been imposed on us because of the circumstances over the past 17 years."
For its part, the official Kuwaiti News Agency reported that Allawi delivered a message from Iraqi Prime Minister Mustafa Al-Kazemi on supporting bilateral relations, while the Saudi Ministry of Finance stated on Twitter that discussions between the two sides focused on trade and investment.
According to the newspaper, the kingdom and the Emirates called on Iraq to end Iran, which has increased its influence over Iraqi politics since 2003. Allawi stressed that the shift in regional relations will not be a turning point or come at the expense of other allies, but it is likely to be accompanied by political amendments. He said: "It does not open a whole new chapter, but it is hoped that different pages will be opened in this chapter."
The Iraqi Finance Ministry also denied borrowing $ 3 billion from Saudi Arabia during the visit of its Minister Ali Allawi to Riyadh, noting that if the proposed Saudi projects are completed, its capital may reach this number or more. LINK
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Samson: Efforts to recover Saddam Hussein's money seized by the finance .. and to reveal a document in his handwriting to pay 35 billion dollars!
25th May 2020
Member of the Parliamentary Finance Committee, Faisal Al-Issawi, confirmed on Sunday that the funds of the former regime Saddam Hussein are seized and frozen in foreign banks do not exceed one billion dollars and there are serious moves to recover them. Al-Issawi said, "There are cases filed with international courts in order to lift the seizure of Iraqi money abroad and recover it.
He added that "the amounts are not large and they do not reach one billion dollars in all cases, but there are also real estate reservations, if the problem was solved it would be sold and benefit from the amounts. And that there are clear mechanisms to follow up on this file, by the Ministry of Finance, and the Ministry of Foreign Affairs is doing its part with the recovery department, to recover that money.
Pointing out that "the matter may be delayed, but really there are serious negotiations with the state in which the money is being seized to solve the problem." He pointed out that "Prime Minister Mustafa Al-Kazemi has experience in this file, given that the intelligence department is one of the active departments in this matter, it can be used in addition to his good relations to recover the money."
A document revealed the handwriting of former President Saddam Hussein stating that Iraq had loaned to some non-Arab African countries and showed a letter dating back to one thousand nine hundred and eighty five and that is Saddam Hussein's handwriting.
Addressed and addressed to the Ministry of Finance, it is requested to form a committee to review the recovery of Iraq's debts owed by non-Arab African countries, and the committee shall be composed of the ministries of finance and oil and the central bank. And this message spread after the Iraqi government tried to borrow from some Arab countries, especially the Kingdom of Saudi Arabia.
Where reports and members of the Parliamentary Finance Committee said that the Minister of Finance asked the Kingdom of Saudi Arabia to lend Iraq three billion dollars to cover the budget shortfall. He will also go to Kuwait to ask for borrowing and support as well. LINK
Samson: Al-Kazemi receives an invitation to visit Moscow .. Putin is looking for huge investments
25th May 2020
Iraqi Prime Minister Mustafa Al-Kazemi Iraqi Prime Minister Mustafa Al-Kazemi received on Monday an invitation from Russian President Vladimir Putin to visit Moscow, while the latter expressed his country's aspiration to double Russian investment in Iraq
This came in a telephone conversation between the two sides, according to a statement issued by the Iraqi government
The statement stated that Putin and Al-Kazemi discussed "strengthening relations and conditions in the region, low oil prices and effects, the OPEC agreement, the Corona pandemic, and the security situation in Iraq and Syria
The statement quoted the Russian President as his country's aspiration "to develop bilateral relations between Russia and Iraq and their importance in all fields, economic, commercial, and energy, and to increase the volume of investments to more than they are now, as well as in the field of electric energy
Al-Kazimi stressed, "The government's interest in strengthening cooperation with Russia, inviting Russian companies to come to Iraq and invest in all fields, and working to overcome difficulties before these companies because of their positive repercussions on Iraq and in the relations between the two countries
According to the statement, Putin extended an invitation to Al-Kazemi to visit Moscow, and Al-Kazemi also sent a similar invitation to Putin to visit Baghdad LINK
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Don961: Negative interest rates What is their purpose and what does it mean to you?
- One Day Has Passed
The Governor of the Bank of England confirmed this week that the bank is considering making its main interest rate negative for the first time in its history of 326 years, and it is far from inevitable, and many analysts still believe it is unlikely. But what is the purpose of it? What would the negative rates of financial condition mean for ordinary people if applied?
What did the governor say?
Andrew Bayley, during a hearing before the House of Commons Finance Committee last Wednesday, said negative rates were under "active review" by the central bank. "We look very carefully at the experience of central banks that used negative rates," he added.
What is the goal?
The basic logic behind making interest rates negative on the one hand, and behind the reduction in rates in natural times on the other hand is the same, and is to encourage the borrowing and spending of families and companies in various economic sectors.
If a reduction in rates from four percent to two percent stimulates the economy, it should do a reduction from zero percent to a negative two percent the same. There is a clear problem with the step in the current circumstances, because most people and institutions are still not able to actually spend as they do, due to the current closure.
However, some argue that negative rates will be beneficial later this year when the UK eases and the spread of monetary stimulus across the economy becomes possible.
Will the move succeed?
The Danish central bank made its interest rate negative in 2012, followed by the European Central Bank two years later and the Bank of Japan in 2016. The overall economic results in the eurozone and Japan were not surprising, although supporters of the move said performance would have been poor without them.
Research indicates that negative rates are counterproductive, as they harm the profitability of private commercial banks (such as "Lloyds", "Royal Bank of Scotland" and "Barclays"), and push them to reduce credit rather than expand it.
In recent years the Bank of England has always rejected proposals to make rates negative, claiming that it harms the profitability of private banks and building societies, but it is fair to say that economic evidence is a point of contention among economic professionals.
What will ordinary savers feel?
Negative rates mean that a fee will be levied on bank deposits with the central bank (rather than paying interest on them) in order to encourage banks to lend these funds to the wider economy. In theory, commercial banks can transfer some of the costs of these negative rates to the ordinary depositors, which means that people will not get interest on their savings, but rather pay a fee, and this is what happened to the big depositors at JSC Bank in Denmark.
However, most of the evidence from Europe and Japan indicates that commercial banks are not doing this, perhaps for fear that their clients may withdraw their money from them, and instead keep them in their homes in cash in safes or under the mattress.
Some economists already indicate that negative rates will not be fully effective until the abolition of material cash and ending the option of people withdrawing from the banking system.
What about borrowers?
Because negative reference rates are prevalent in private banks, these banks have the power to decide about their delivery to borrowers and how they can be delivered if this actually happens. This means that you are unlikely to give a discount on the current mortgages of borrowers.
JSC last year had already revealed a ten-year plan for negative interest rates on mortgages, but the fees it imposed resulted in people not actually getting any money for borrowing.
However, negative rates will encourage banks to make more mortgages for people compared to positive rates. It can also lower the interest rate charged on any new credit advanced.
Bin Chu
Independent Arabic link
MilitiaMan and KTFA Members Sunday Night 5-24-2020 "Looking International Now!"
.KTFA:
Samson: Finance Minister: We will work to reduce the higher salaries and resort to savings to the fifth degree
05/22/2020 22:38:31
Today, Friday, Finance Minister Ali Abdul Amir Allawi revealed the categories covered by reducing salaries, while specifying the deduction mechanism and ways to reduce it or withdraw it saving.
Allawi said in a televised meeting, "The government will determine the priorities of the crushed and poor class and that any reduction in salaries will not include employees, or retirees at lower levels who receive a salary of 500 thousand dinars or less," noting that "the rest of the other groups that consume half the budget with high salaries will be Included in treatment and reduction."
He added that a waste represented in the allocations of the higher grades would be covered by the reduction, noting that "the group close to the fifth degree will try to reduce the damage to it by reducing the reduction or withdraw it saving and link it to health or housing insurance or health insurance."
KTFA:
Samson: Finance Minister: We will work to reduce the higher salaries and resort to savings to the fifth degree
05/22/2020 22:38:31
Today, Friday, Finance Minister Ali Abdul Amir Allawi revealed the categories covered by reducing salaries, while specifying the deduction mechanism and ways to reduce it or withdraw it saving.
Allawi said in a televised meeting, "The government will determine the priorities of the crushed and poor class and that any reduction in salaries will not include employees, or retirees at lower levels who receive a salary of 500 thousand dinars or less," noting that "the rest of the other groups that consume half the budget with high salaries will be Included in treatment and reduction."
He added that a waste represented in the allocations of the higher grades would be covered by the reduction, noting that "the group close to the fifth degree will try to reduce the damage to it by reducing the reduction or withdraw it saving and link it to health or housing insurance or health insurance."
He pointed out that "the method of drawing the budget is wrong and lacks the economic and realistic view and vision, which is a collection of numbers and every year new numbers are added to it," noting that "the budget problem is great because of salaries, allocations and state expenditures associated with legal benefits, where laws are enacted without taking their financial impact, Such as increasing salaries, increasing the social network, increasing benefits, or retirement and all these things are reflected in the budget." He continued, "We should not count on the rise in oil prices, and we must rely on resources and self-possibilities as it is a major axis of the economy." the prices".
And Allawi said that "Iraq does not have safety valves such as those in the Gulf, which drives the government to deal with international institutions such as the International Monetary Fund and the World Bank, but the IMF has a kind of immediate support based on technical measures, which may require months, while the financial problem we have requires Very fast processing."
Allawi pointed out that "solutions exist in spite of a fundamental error in the structure of the Iraqi economy, this error is reflected on the budget as a whole," noting that "there are some institutions still sound like the central bank and the central bank reserves are 65 billion dollars, which is good, and in this Unusual circumstances require concerted efforts, including institutions, in general they must take a conservative stance against interference in the economic and financial affairs of the country, stressing that “there is supposed to be a unified account for all the state’s money, but there are pockets out of control in which billions exist, and there are accounts Trillions of some ministries."
He noted that "the government does not want to finance salaries only, as there are state expenditures that must be taken into account, such as external debts linked to schedules and have contractual implications, and other issues including necessary security purchases and others related to the ration card and other budget items", explaining that "the problem in operational budgets is She has no resources."
He explained that the crisis began in March and April, so the surplus in the country was allocated to cover salaries, including retirees, for the fourth, fifth and sixth months, while keeping partial liquidity at the ministry representing a safety valve, adding that any new government to start with an ideal start must have cash at least Ten trillion, but what was available at the beginning of the government’s taking over was only two and a half trillion.” LINK
MilitiaMan: This one speaks for it's self. It looks as though they have the money for salaries allocated already. I am not so sure they need loans nor are they going to get them for to finance Salaries. Especially while at a program rate. The salaries are to be paid this month after Eid Al-Fitr.
What will they do in July and August, etc.? Finance more salaries? lol.. No, they are not imo.. Imo They have the nscn's to give out, as purchase power is a gift during a time of giving..
They cut off Iran and Iraq's electricity dealings yesterday and earlier than the original 30 day extension they had, let alone the 120 day extension they had in place. That was a head fake or what? lol
The energy is now coming from Saudi Arabia. That means to me they are international in regard to doing business. The implications of that are huge. The UNSC 2 Billion Dinars not yet given out from their 05/13/2020 meeting, nor the meetings with the new Deputy Prime Minister / Finance Minister going to Kuwait, Saudi Arabia, UAE, Lebanon, Jordan, Egypt, etc., where fruitful in obtaining loans. But those meetings were more likely about about interlinking their economies.
Allocating the monies from prior conferences, contracts or agreements, yet to be activated, until apparently now, as noted by SA. Imo.. If that is the case then, that is looking to be regional reconciliation for the area!!
We know the plan is to become a social market economy for Iraq. That requires internationalism.
Doing so requires Iraq to be article 8 compliant.
From the looks of the recent agreement with Saudi Arabia, they are showing that they are now compliant, ioo. The meetings with the Finance Minister, aka Deputiy Prime Minister, has me thinking they are or may have brought or now are bringing the REER (Real Effective Exchange Rate) to the neighboring countries.
The neighboring countries in the region will have a need to know the REER within a very short period of time to adjust pricing inline with Iraq at the borders for things such as; customs, taxes, fees, etc... Just as SA would need to know the REER for the energy pricing for Iraq's energy needs. imo Times are seriously getting real, imo!!
Lets see what they do going forward. Even Sistani has moved the Eid Al-Fitr back one more day. They are in lock down during the holiday period. What a perfect cover under or being behind the COVD-19 mask era.
We know the CBI printed 4 trillion dinar in April. They didn't print large notes. They printed smaller increments of money. imo.
We know they showed us they were destroying large amounts of perfectly good large notes. The new money is to replace the large with smalls.
The education process for the new currency will come once the REER is exposed and that would or could be easily done while they are under the curfew, imo. Everyone will be home and behind a TV or some sort of social media.
They could show the new money and educate for re opening of the ISX well before they open. It is hard to imagine they would have a perfect cover to just waste it.. imo
So, lets see what they do next. But, it sure looks like we are in a good place.. imo ~ MM
Samson: Finance Minister: Agreement to activate the electrical connection between Iraq and Saudi Arabia LINK
MilitiaMan: The move that supports they are Article 8 compliant in business.. imo ~ MM
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Samson: Under royal directives, the Saudi ambassador returns to work in Baghdad
23rd May, 2020
The Saudi Foreign Minister, Faisal bin Farhan, announced today, Saturday, the issuance of directives from King Salman bin Abdulaziz, the return of the ambassador to Iraq to start his work at the earliest time, in order to translate the Kingdom's desire to strengthen relations between the two countries
The Saudi newspaper “Okaz” stated that “Saudi Foreign Minister Faisal bin Farhan renewed during his meeting with the representative of Prime Minister Mustafa Al-Kadhemi and Minister of Finance Ali Abdel Amir Allawi, affirming the Kingdom’s concern for the unity of the Iraqi people, and the importance of cooperation with the new Iraqi government to achieve mutual interests and enhance ties Bilateral relationship between the two brotherly countries
The Minister of Foreign Affairs expressed the Kingdom's support for Iraq in a manner that achieves its security and stability and countering terrorism
He pointed out "the importance of the Iraqi-Saudi Coordination Council, which was established with the guidance of the leadership of the Kingdom as a mechanism for developing relations between the two countries to broader horizons and cooperation in the political, economic, security, commercial and investment fields LINK
MilitiaMan: Looks like more of the PM hitting the ground and running!! This is also huge and supportive Iraq has agreed to be compliant and international.. imo ~ MM
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Samson: In the document .. The Kurdistan government approves the Baghdad proposal to settle the financial situation
23rd May, 2020
The Ministry of Finance of the Kurdistan Region announced today, Saturday, its approval of the content of a letter sent by Federal Minister of Finance Ali Allawi on May 19th, which included four proposals for a financial settlement between Baghdad and Erbil
According to the document, obtained by "Gilgamesh Press", "The proposed steps include the payment of 400 billion dinars for the month of April by the Ministry of Finance to the Kurdistan region, in addition to entering intensive meetings between representatives of the two governments for the purpose of agreeing to a final settlement within a period of not more than 30 days And adopts the Federal Financial Management Law as the basis for it
In response to this document, the provincial finance minister, Awat Sheikh Janab, sent a letter to Allawi's Minister of Finance, saying, "The Kurdistan Regional Government confirms its approval of the content contained in your book
The Kurdistan Regional Council of Ministers announced earlier that the federal government had verbally agreed to send 400 billion dinars to the Kurdistan region LINK
MilitiaMan: We see the Kurds are in agreement with the new PM on the implementation of the FMLA of 2019.. Oh Buddy.. That my friends is so very welcome, you may not have any idea, but, this is music to my ears. They agreed on the REER for the future budgets and will be in preparation for their fundamental implementation.... No wonder Saudi Arabia is off and running.. Word travels fast. This looks like a notification that was dated May 19th.. 1) DONE 2) DONE and 3) DONE. lol imo ~ MM
YoungSC: As Frank stated on Fridays YouTube Iraq is article 8 and we will see the REER posted soon based on Iraq's meeting with Saudi Arabia. Having the open market and opening their country for investment
Don961: A bet on the 'back rooms'
Washington on the line of the economic crisis in Iraq .. And Al-Kazemi's team is on a date with the test!
2020.05.24 - 12:53 Baghdad - people
Al-Sharq Al-Awsat newspaper said that US Secretary of State Mike Pompeo paved the way for the upcoming strategic dialogue between Washington and Baghdad, through a phone call, which the newspaper considered to be meaningful as he held it with Iraqi Prime Minister Mustafa Al-Kazemi.
The newspaper pointed out in a report, which was viewed by "people" (May 24, 2020), that the dialogue between Baghdad and Washington should be transformed from a political-security dialogue to an economic-investment dialogue, and “here it will test the ability of Al-Kazemi and his government team and the intentions of the Iraqi political forces ruling In the political process. "
The following is the text of the report:
US Secretary of State Mike Pompeo paved the way for the upcoming strategic dialogue between Washington and Baghdad, with a meaningful phone call he made with Iraqi Prime Minister Mustafa al-Kazemi.
Pompeo, according to the statement issued by the US State Department, discussed with Al-Kazemi «the economic crisis in Iraq, and the next strategic dialogue between the United States and Iraq».
The statement added that «the minister urged Prime Minister Al-Kazemi to follow the real reforms while working with international institutions, to provide financial assistance to Iraq».
And if the State Department statement focused on the economic crisis, as a first priority that the Iraqi government should address, including the trend towards international institutions to provide assistance to Iraq, the statement issued by the Information Office of the Prime Minister of Iraq did not go away on the essence of Iraqi-American priorities, including In that upcoming dialogue between the two countries, described by both of them as strategic dialogue.
According to what political observers see in Baghdad, the prospective dialogue is linked from the viewpoint of the parties close to Iran, particularly the armed factions, to the American military presence, which must end with the departure of the American soldiers from the bases in which they are located, starting from "Ain al-Assad" in western Iraq. , To a "silk" base in Kurdistan in northern Iraq.
The Iraqi government, which finds itself between several pathways and anvils, has not yet disclosed the nature of this dialogue, and what it might include.
For its part, the political parties that make up the Iraqi parliament are divided among themselves, who reject the survival of the Americans, who are the majority of the Shiite forces, and support for their survival, namely the Sunnis and the Kurds.
In this context, American support for al-Kazemi comes as a reliable and worthy prime minister. In return, Iran is still declaring its support for Al-Kazemi without reservation of any step I take, knowing that Al-Kazemi’s priorities now are how to pay the salaries of employees that amount to more than two billion dollars per month. In this context, there is an equation that seems very imbalanced, and that is a complete openness to Saudi Arabia by Al-Kazemi, with the beginning of a strategic dialogue with the Americans in light of the ambiguous relations between the Iranians and the Americans.
Member of the Committee on Foreign Relations in the Iraqi parliament, Dr. Dhafer Al-Ani, trying in his speech to "Al-Sharq Al-Awsat" to try to solve the mystery of this equation, saying that "Al-Kazemi's government was born amid the complexities of the Iraqi scene economically, security and health; Indeed, even internationally, according to Iraq, according to its current capabilities, Iraq is unable to face these conditions without external assistance.
Al-Ani added: "The government, which is based on an initial positive external impression on it, is trying to invest this in overcoming its plight through a wide openness to countries that are characterized by assistance, in order to consolidate the pillars of the new government and push it towards rational rational decisions."
Al-Ani explained that “the Arab Gulf states, especially the Kingdom of Saudi Arabia, the Emirates and Kuwait, have ties of Arabism and neighborliness with them, and have previously helped Iraq in previous years, and they are at the forefront of countries that will initiate Iraq to seek aid to support its stability, driven by a certain awareness that the stability of Iraq is stability For the entire region, and that strengthening the new government is an important factor for restoring Iraq’s independence and sovereignty. ”
With regard to Iran, Al-Ani says that "Iran continues to interfere in Iraq to steal its sovereign decision, through direct sabotage action economically, security and culturally, and indirectly through the armed factions loyal to it in Iraq." Regionally and internationally, it is continuous and wide, to send enough assurances that it is determined to take serious steps towards consolidating the independence and unity of Iraq. '
As for the professor of national security, Dr. Hussein Allawi, he sees in his talk to "Al-Sharq Al-Awsat" about the strategic dialogue between Baghdad and Washington, that "both countries are ready for dialogue in an open manner without reservations or red lines; As it is time for Iraq to make the right choices without Iranian pressure or local investment by armed factions.
Allawi adds that «the position of Prime Minister Mustafa Al-Kazemi represents today the forces of national moderation, the government apparatus, and society, in terms of dialogue with the Americans.
Allawi explained that «the fate of the American forces will remain in the light of the advisory and coordination work, training, information exchange, and maintenance of American equipment in the ranks of the armed forces, through American companies, and this was determined in the light of the strategic relocation plan in the Iraqi military bases, at (Ein Al-Assad base) And (Harir), and in the event that the Iraqi government asks for more than that, the American response will be through the International Alliance and the North Atlantic Treaty Organization (NATO).
Allawi pointed out that «the dialogue must be transferred from a political-security dialogue to an economic-investment dialogue, and here it will test the ability of Al-Kazemi and his government team and the intentions of the Iraqi political forces ruling in the political process», explaining that «the back rooms of the Iranian-American negotiations are capable of dismantling The complex of the American-Iranian conflict, but Al-Kazemi wants to launch relations towards a comprehensive and parallel path, in order to preserve Iraqi national interests, since Al-Kazemi is closer to the protest forces that reject Iranian influence over the Iraqi political-economic decision, but want a normal relationship without interference, which is what He made the Iranians realize this through decision-making systems that showed a clear retreat, which makes them focus on interests, markets and trade between Iran and Iraq, with the parallel line of aid continuing to their friendly parties in Iraq. link
MilitiaMan: Sounds like the the USA and Iraq, have allies in the region and Iran has been notified, as of the other day and today.. USA, Iraq and the region see that stability in Iraq is very important!! Especially now.. oh ya! imo ~ MM
Don961: Finance Minister to a Saudi newspaper: Iraq’s request to borrow three billion dollars from Saudi Arabia is totally incorrect!
Policy , 05/24 2020 11:49 Baghdad - Iraq today:
Ali Allawi denied the authenticity of the news about Iraq’s request from Saudi Arabia to borrow about $ 3 billion, and he said that this talk is not true, but if we talk about the volume of support we will get from Saudi projects that can be implemented in Iraq, and if the capital is raised for these Projects: «We may reach this number and more, we want to move the investment inside Iraq».
In a question about the fact that these projects will take a long time, in return for Iraq being required to fill the deficit and provide the salaries of workers and retirees for the coming months, Allawi answered: “We have in Iraq immediate financial problems related to deficits and loss of flexibility, and the Iraqi budget is based on two assumptions: one of which is volatile, and it is The price of oil and the amount of its production, and the second is fixed, which are salaries and pensions and workers, and this equation is very concerned.
He added: "The decline has greatly affected the state's liquidity, and the funds must be rationalized as much as possible so that we can address friends to help support the deficit in the immediate term. As for the short and medium term, the commercial projects are almost ready, and only implementation remains."
He demanded the Iraqi people, especially from the category of employees who have a rise in their returns, to accept sacrifices for the sake of rebalancing and rebuilding Iraq, but the poor of them are able to guarantee them. LINK
MilitiaMan: All the worry about loans, should be off the table and off ones mind. They have the ability in place now to not need them. They'll want the monies from many different mechanisms or tools if you will, to jump start the new social market economy. The FMLA of 2019 is looking to be be in place and ready to be applied.. Only the final implementation is what looks to be all that is waited on.. imo ~ MM
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Samson: Finance Minister: We seek to increase the share of Saudi Arabia inside Iraq .. And reveals a "detailed note"
05/25/2020 09:48:35
Finance Minister Ali Abdul Amir Allawi said that Iraq wants to restore economic balance with neighboring countries.
Allawi, who visited Saudi Arabia recently and returned yesterday to Baghdad after the end of his meetings with Saudi officials, said that "one of the goals of the Iraqi government is to restore the Iraqi balance with the countries of the region, in terms of economic and trade, and that the Saudi economic role in Iraq is somewhat shy - as he put it - Especially since the size of the Saudi economy is equivalent to half the size of the Arab world’s economy, but its presence is relatively weak compared to Turkey and Iran, whose investments amount to 12 billion dollars a year, compared to the volume of Saudi investments in Iraq, which amounts to one billion dollars per year. And between: “We want to change Balance, and we seek to increase the share of Saudi Arabia inside Iraq in various fields including electricity, oil, petrochemical and agriculture. "
He pointed out that "the flow of Saudi investments in Iraq, despite the obstacles that exist in front of the Saudi investor, plays a more important and greater role in the process of rebuilding Iraq, acknowledging that there are major obstacles inside Iraq, from the legal system to administrative arrangements to stifling bureaucracy to the loss of financial banking support for the country And the weakness of the banking sector led to security problems, and all of these affected the Iraqi economy during the last period.
He emphasized that "the Saudi-Iraqi Coordination Council is still standing, but it is generally in stages, as the interest of the Saudi side is very high, but the conditions inside Iraq and the successive political crises have prevented some kind of activating this axis."
Allawi said, "We want to activate this axis, and we are going according to a serious plan to implement all our obligations and promises to the Kingdom."
He added agreed during my meetings with the Saudi side to provide a detailed note next week on how to develop a relationship, and what obstacles and projects that can be implemented in the long immediate and medium, which may be a model of economic relations, to be built on the objectives and structure of numbers. LINK
MilitiaMan: Activation. This time with the new PM in place, they trust that the activation will happen and is happening. There has been many things that show that the Kingdom believes the new PM is going to do what is promised.. This is also huge support that actions were taken and clearly a key component is the on going reconciliation between the regional government and the federal government and the region as a whole.. They need the security and stability of Iraq to be a beacon again for the region. It is going to happen.. Once they activate the sovereignty of the nation with a new international mechanism for trade? The real work gets under way to re build Iraq.. Oh ya.. Looking so very international now.. Wow.. imo ~ MM
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Don961: A Kurdish deputy calls on the Minister of Finance to take steps to stop manipulating Iraqi imports from Zakho to Basra
Policy 05/24 2020 18:17 224 Editor: ht Baghdad today –
Baghdad On Sunday (24 May 2020), the Kurdish MP, Hoshyar Abdullah, called on the Minister of Finance, Abdul Amir Allawi, to take steps to stop manipulating Iraqi imports from Zakho to Basra.
Abdullah said in a tweet on his platform via "Twitter", addressing the Minister of Finance: "We support you in reducing the salaries of the higher grades, cutting the huge petty cash on the three presidencies, abolishing the extra administrative bodies and links, and preventing any manipulation of Iraq's imports from Zakho to Basra."
Abdullah had said Saturday (023 May 2020), "There is optimism in the performance of the Minister of Finance and I see that he is yet accurate in his proposals to reduce the repercussions of the financial crisis to a large extent, and therefore I see that his steps deserve support and support."
The statement added: "We are waiting for him to look at the employees of the region as he looks at the employees of the rest of the provinces," noting that "there is an opportunity to resolve financial problems with the region constitutionally, and we must make this crisis an opportunity to implement radical financial reforms."
He stressed "the need for the regional and center governments to solve their problems away from prejudice to employee salaries." link
MilitiaMan: Thank you Don, another gem talking about implementing radical financial reforms.. Radical as in the removal of three zeros and apply REER? That would work for me.. lol ~ MM
KTFA Members "Sunday News" 5-24-2020
.KTFA:
Samson: Al-Jubouri: The salaries of political prisoners and "Al-Rafhawawi" are more than the Saudi loan
23rd May, 2020
Today, Saturday, the former deputy, Mishaan al-Jubouri, called for stopping the payment of salaries of political prisoners and detainees of Rafha, which together constitute a higher amount of the loan granted by Saudi Arabia to Iraq
Al-Jubouri wrote on his account on the "Twitter" website and followed him "Gilgamesh Press," saying, "Finance Minister Abdul-Amir Allawi announced that Iraq obtained a three billion loan from Saudi Arabia to cover the salary deficit
He added, "Note ... the amount of salaries that are paid to the so-called political and Al-Rafhawi prisoners annually is more than this amount LINK
GodLover: Should we be concerned that Iraq is now getting loans?
DELTA: NO .....I WILL GIVE YOU MORE DETAILS ABOUT IT ON MONDAY CC ...
KTFA:
Samson: Al-Jubouri: The salaries of political prisoners and "Al-Rafhawawi" are more than the Saudi loan
23rd May, 2020
Today, Saturday, the former deputy, Mishaan al-Jubouri, called for stopping the payment of salaries of political prisoners and detainees of Rafha, which together constitute a higher amount of the loan granted by Saudi Arabia to Iraq
Al-Jubouri wrote on his account on the "Twitter" website and followed him "Gilgamesh Press," saying, "Finance Minister Abdul-Amir Allawi announced that Iraq obtained a three billion loan from Saudi Arabia to cover the salary deficit
He added, "Note ... the amount of salaries that are paid to the so-called political and Al-Rafhawi prisoners annually is more than this amount LINK
GodLover: Should we be concerned that Iraq is now getting loans?
DELTA: NO .....I WILL GIVE YOU MORE DETAILS ABOUT IT ON MONDAY CC ...
Don961: The dialogue between Baghdad and Washington ... a parliamentary condition that precedes negotiations and talks about exceptions that allow American soldiers to remain
Policy 05/23/2020 21:44 949 Editor
Baghdad today - Baghdad
The timing of the launching of dialogues is the first of its kind, approaching between Iraq and the United States, since the withdrawal of the latter from Iraq in 2011, which is scheduled to take place in the middle of next month, and with what she described as "very important", with regard to its role in the military and security, talks are underway On a "condition" for negotiation between the two countries.
On January 5, the Iraqi Council of Representatives approved a decision to remove foreign forces from Iraq against the backdrop of an American plane carrying out a strike that killed the deputy head of the Popular Mobilization Organization, Abu Mahdi Al-Muhandis, and the commander of the Iranian Quds Force, Qassem Soleimani.
This decision imposes itself in any prospective dialogue, according to Iraqi lawmakers, while others indicate that the decision caused the suspension of the work of foreign forces and US military flights in Iraq, which allowed ISIS to move freely again and carry out several attacks in the month of April and May this year, which necessitates placing this danger in Take into account the upcoming negotiations.
After the formation of the government of Prime Minister Mustafa Al-Kazemi, the international coalition aircraft flew back to carry out strikes against ISIS, and some of them were carried out in Kirkuk during support operations for the anti-terrorist apparatus.
Member of Parliamentary Security: Iraq will prioritize the removal of American forces from the upcoming negotiations, and there is a condition permitting exceptions
Member of the Parliamentary Security and Defense Committee, Kata al-Rikabi, said in an interview with (Baghdad Today) that "the strategic dialogue is the completion of the strategic framework agreement, which was held in 2009, in the sense of agreeing to implement the provisions that were not applied and left loose."
He added, "The Iraqi delegation will put in its priorities the removal of US forces from Iraq, in accordance with the decision of the House of Representatives in January 2020, stressing that this is a" condition for negotiating with Washington. "
He stressed: "What we do not accept as deputies is the continued American presence, and we will focus on the issue of removing all forces, with some exceptions in terms of advisers and trainers only to provide military and intelligence advice."
It is expected that next month, dialogues will be the first of their kind between Iraq and the United States of America, since the latter withdrew from Iraq permanently in 2011, according to what senior Iraqi officials announced recently.
Parliament describes the upcoming dialogue important, and confirms the absence of an invitation to participate
On Saturday (23 May 2020), a member of the Parliamentary Security and Defense Committee, Abbas Srouat, described the strategic dialogue between Baghdad and Washington, scheduled for mid-next month, as very important.
In an interview with (Baghdad Today), Zrout said, "The security and defense committee in the Iraqi parliament, until now, has not been informed or received any notice of any role in this dialogue," noting that "it is a dialogue with the government, especially between the commander-in-chief of the armed forces." Iraqi, top military leaders and the American side. "
And between, "The strategic dialogue between Washington and Baghdad is very important for Iraq, and it has very great benefit, especially with regard to the aspect of armament, training and development."
The idea of a strategic dialogue between Baghdad and Washington dates back to the period before the outbreak of popular protests in Iraq in October 2019.
And Iraqi officials confirmed, earlier, that these dialogues, which they described as "comprehensive", came with an American offer, which they considered a project to set a road map for the relationship between the two countries, in the light of which a stable policy is reached and governed by several agreements, including the issue of the American military presence, The support provided to Iraq from a security and economic perspective, and guarantees of a democratic transition of power in Iraq, are also likely to place Iran's file at the top of what will be discussed. link
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Don961: Member of Parliament Finance reveals the existence of 80 billion dollars of Iraqi money in the American treasury
Policy 05/24 2020 01:36 1336
Baghdad today - Baghdad
Member of Parliamentary Finance Committee Muhammad Sahib al-Darraji revealed, on Saturday (23 May 2020), that there are 80 billion dollars of Iraqi money in the US Treasury.
Al-Daraji said in a televised interview I followed (Baghdad today), that "Iraq possesses financial reserves of approximately 80 billion dollars in the money of the central bank, in the form of cash, bonds and alloys in the US Treasury."
And he talked about the financial situation of Iraq and its economy, which depends only on oil imports, and said that "Iraq is more like a gas station, if its prices rise, the standard of living of the Iraqi individual becomes good and if it falls, then his affairs decline and deteriorate."
And Al-Darraji said, "Iraq’s financial imports for the month of April reached nearly one billion and 400 million dollars, while Iraq needs an operating budget that needs approximately 5 billion dollars." He pointed out that "Iraq's financial imports during 2019 amounted to nearly 78 billion dollars. That is, what he enters in monthly money was more than $ 6 billion.
The UN Security Council committed the Iraqi government at the end of 2010 to develop a plan to receive it the tasks of overseeing the Development Fund for Iraq from the United Nations at the end of 2010, after which Iraq would place it in the US federal treasury to ensure immunity by the US Presidential Law on it that would protect Iraq’s imports Oil from seizure by many creditors. "
And revealed the member of the Finance Committee in the Iraqi parliament, the deputy from the "Kurdistan Islamic Union", Jamal Kujer earlier on the details of the debt funds owed by Iraq.
He said in a press statement that "the debts incurred by Iraq include two classes: the first is odious debts, and the second, regular, includes international monetary loans, JICA, the Japanese loan, and another group of loans, which the state has resorted to in special circumstances, for special projects."
Cougar added, that the odious debt, "was 48 billion dollars, of which about 22 billion dollars was paid, and it includes compensation for Kuwait, the Gulf War, and others."
He continued, "As for the debts of Bahrain and Saudi Arabia, all came from the issue of Saddam Hussein's purchase of arms from it, and from the rest of the Gulf states, in his war with Iran in the eighties of the last century."
He continued, "Also includes the odious debts, resulting from Iraq, from Saddam Hussein's invasion of Kuwait and parts of Saudi lands."
He continued, "40 billion dollars in debt to Saudi Arabia, Iraq refuses to recognize, and pay, because Saudi Arabia and the Gulf states were supporting Saddam Hussein in his war with Iran, and after the American invasion of Iraq in 2003, these countries transferred these funds from Support to loans, so the new governments did not recognize them, they did not recognize, and only recognized the debts arising from the invasion of Kuwait. link
Samson: The Stock Exchange: We will reorganize five sessions a week after Eid Al Fitr
24th May, 2020
The stock exchange announced, on Sunday, that it will reorganize five sessions per week after Eid Al-Fitr, indicating that its first session will be on Sunday, May 31
The Stock Exchange said in a statement, "Economy News" received a copy of it, "The Stock Exchange will reorganize five sessions per week after the blessed Eid Al-Fitr after the Board of Governors reduced the number of trading sessions from five sessions per week to three sessions per week organized on Sunday, Tuesday and Thursday
The statement added, "The first trading session will be after Eid Al-Fitr on Sunday, May 31, 2020
It is noteworthy that the Iraqi Stock Exchange was established in June 2004, and was previously dependent on manual trading. In April 2009, electronic trading was approved by some companies, and electronic trading began for the companies registered in the year 2010, and 104 companies affiliated to eight sectors are banking, industrial, Hotel, tourist, agricultural, investment, insurance, in addition to communications LINK
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Samson: Iraq wants Saudi Arabia to obtain the largest share of electricity projects
24th May, 2020
Finance Minister Ali Allawi on Sunday expressed the desire of Iraq that Saudi Arabia be the one that gets the largest share of electricity projects.
Minister Allawi stated that "the electricity sector was taken into consideration during his meetings with Saudi officials in Riyadh the day before yesterday, and it is one of the important projects, and we want Saudi Arabia to be the one that gets the largest share of these projects."
He added: "It is necessary to connect the electrical network in Iraq with the Saudi and Kuwaiti networks, and this diversity is important in relation to the economic balance in Iraq." LINK
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Samson: The Relations Committee sets out an important step for Al-Kazemi’s government to win regional and international cooperation
24th May, 2020
The Foreign Relations Committee in the House of Representatives, on Sunday, identified an important step for Mustafa Al-Kazimi's government to win regional and international cooperation.
The member of the committee, Dhafer Al-Ani, said, "The Al-Kazemi government was born amid the complexities of the Iraqi scene economically, security, healthily, and even internationally, and therefore Iraq is unable, according to its current capabilities, to meet these conditions without external assistance."
Al-Ani added, "The government, which is based on an initial positive external impression of it, is trying to invest this in overcoming its ordeal by opening a wide range of countries that are characterized by assistance, in order to consolidate the pillars of the new government and push it towards rational rational decisions."
Al-Ani explained that "the Arab Gulf states, especially the Kingdom of Saudi Arabia, the Emirates and Kuwait, have ties of Arabism and neighborliness with them, and have previously helped Iraq in previous years, and they are at the forefront of countries that will initiate Iraq to seek aid to support its stability, driven by a certain awareness that the stability of Iraq is stability For the entire region, and that strengthening the new government is an important factor in restoring its independence and sovereignty to Iraq."
And, “The Al-Kazemi government, if it wants sustained and broad regional and international cooperation, should send sufficient assurances that it is determined to take serious steps towards consolidating the independence and unity of Iraq.” LINK
"Saturday News" Posted by Samson at KTFA 5-23-2020
.KTFA:
Samson: Governmental banks are closed during the holidays, and salaries are paid after the holiday
23rd May, 2020
An official source at Rafidain Bank said on Friday that the bank, along with other government banks, including Al-Rashid Bank, will resume its operations after the Eid Al-Fitr holiday.
The source said, told Twilight News, he said that "there is no appeal or direct attendance at the Rafidain Bank or other government banks, including good during the official holiday bank," noting that "always disabled during the days of Eid."
The source pointed out that "the banks will resume their work hours and pay the salaries of state employees after the Eid holiday," explaining that "employees with electronic payment cards can receive their salaries from the network of bank branches scattered in Baghdad and the provinces after the Eid holiday."
The Iraqi government has set the days for the Eid al-Fitr holiday, from next Sunday to Thursday, with a total curfew imposed.
KTFA:
Samson: Governmental banks are closed during the holidays, and salaries are paid after the holiday
23rd May, 2020
An official source at Rafidain Bank said on Friday that the bank, along with other government banks, including Al-Rashid Bank, will resume its operations after the Eid Al-Fitr holiday.
The source said, told Twilight News, he said that "there is no appeal or direct attendance at the Rafidain Bank or other government banks, including good during the official holiday bank," noting that "always disabled during the days of Eid."
The source pointed out that "the banks will resume their work hours and pay the salaries of state employees after the Eid holiday," explaining that "employees with electronic payment cards can receive their salaries from the network of bank branches scattered in Baghdad and the provinces after the Eid holiday."
The Iraqi government has set the days for the Eid al-Fitr holiday, from next Sunday to Thursday, with a total curfew imposed. LINK
Samson: Iraq is discussing four files with the World Bank
23rd May, 2020
On Saturday, the Ministry of Planning revealed the most prominent files discussed with a representative of the World Bank
Planning Minister Khaled Battal said, according to the official news agency, "The meeting with the representative of the World Bank did not address the new borrowing, but rather was devoted to discussing the activation of development projects funded by the World Bank before the current financial and health crisis," noting that "the meeting also witnessed a discussion of available funds By the World Bank, Iraq
Battal added that "he also discussed with the representative of the World Bank some of the current problems between the bank and some sectoral ministries benefiting from the projects and how to solve them in light of the lack of approval of the budget law, which represents the legal cover for these projects LINK
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Samson: Al-Shammari: Al-Kazimi's envoy's visit to Saudi Arabia is a sound step towards activating Iraq’s agreements with its regional environment
05/23/2020 11:51:50
Member of the Political Bureau of the National Wisdom Stream, Fadi Al-Shammari, confirmed on Saturday that Al-Kazemi’s envoy’s visit to Saudi Arabia is a sound step towards activating Iraq’s agreements with his regional environment.
Al-Shammari said in a tweet on Twitter, "The visit of Prime Minister Mustafa Al-Kazemi's envoy to Saudi Arabia is a sound step towards activating the Iraqi agreements with his regional environment."
Al-Shammari added, "We need partnerships for prosperity and stability, partnerships for security, and partnerships for energy supply and sustainable development." He added that "this step should be baptized by agreement with the countries of the region that share with us interests". LINK
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Samson: From Saudi Arabia .. Allawi announces the abandonment of importing gas and electricity from Iran
23rd May, 2020
Finance Minister Ali Abdul-Amir Allawi announced, on Saturday, that he would give up importing gas and electricity from Iran
Allawi said in a tweet on Twitter, "In implementation of the decisions of the US Treasury, we have decided to abide by not extending the exemption granted to Iraq from the sanctions imposed on the import of gas and electricity from Iran
This tweet was written by Allawi during the visit to Saudi Arabia, and comes hours after he announced an agreement to activate the electrical connection between Iraq and Saudi Arabia LINK
Samson: Allawi arrives in Kuwait and delivers a message from Al-Kazemi
23rd May, 2020
Prime Minister Mustafa Al-Kazemi's envoy and Finance Minister Ali Abdul-Amir Allawi arrived on Saturday from Kuwait from Kuwait
The Kuwaiti News Agency KUNA stated that "Sheikh Sabah Khalid Al-Hamad Al-Sabah, Prime Minister received today at the Seif Palace, the envoy of the Prime Minister in the brotherly Republic of Iraq, Minister of Finance and Acting Minister of Oil Ali Abdul-Amir Allawi and his accompanying delegation
During the meeting, he received a written message from the Prime Minister In the Republic of Iraq, brother Mustafa Al-Kazemi includes ways to support relations between the two countries and the prospects for developing them and exchange views on regional and international issues
She added, "The distinguished bilateral relations between the two countries and the two brotherly peoples were also reviewed, in addition to discussing issues of common concern
She noted, "The meeting was attended by the Oil Minister, Acting Minister of Electricity and Water Khaled Ali Al-Fadil, Finance Minister Barak Ali Al-Shitan and Deputy Foreign Minister Khaled Suleiman Al-Jarallah LINK
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Samson: Five files to be presented by Baghdad during its dialogue with Washington
22nd May, 2020
Member of the Foreign Relations Committee in Parliament, Ala Talabani, confirmed that five files will be raised from Baghdad during its dialogue with Washington, stating that any agreement with the United States of America must maintain the balance of relations between Washington and Tehran in a way that serves the Iraqi interest.
Talabani said in a press statement followed by Alsumaria News, that Iraq will present five files during his dialogue with Washington in the middle of next June, indicating that "these files are the military and security coordination, the future of the American presence in Iraq, the arming and training of the Iraqi army, and the economic side, as well as Cultural issues, explaining that the understandings between the two countries will be military, economic and cultural."
he added, "The idea of a strategic dialogue between Baghdad and Washington is not new, but dates back to the period before the popular movement began in October 2019, which saw visits by high-level American officials to Iraq and their meeting with Iraqi officials, and presented them with the idea of holding joint meetings and writing a new agreement based on mutual cooperation. In several areas, in order to organize the post-salvation phase of terrorism."
Talabani added, "However, some political circumstances, regional tensions and possibly differences caused the postponement of the issue that was raised again before the formation of the current government, when the American ambassador in Baghdad delivered an official message from the US administration requesting the start of negotiations."
She drew a member of the Parliament's Foreign Relations Committee that "there are controversial points that may accompany the dialogues, especially with regard to the previous decision of Parliament to remove all foreign forces from the country, stressing the difficulty of agreeing on some issues."
She indicated that "the Iraqi Ministry of Foreign Affairs is not able to negotiate with the Americans alone without cooperating with the relevant authorities, because the ministry is in charge of implementing the policy that is drawn in the Council of Ministers," explaining that "the current Iraqi policy does not bias to a state against another, but seeks to maintain balance with everybody".
And she added that "any agreement with the United States of America must preserve the balance of relations between Washington and Tehran in a way that serves the Iraqi interest," stressing the need not to deal with this file with affection. LINK
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Samson: A deputy talks about 4 agencies that "loot" the state treasury, which the previous governments did not address!
23rd May 2020
Member of Parliamentary Finance Committee Jamal Kujer revealed, on Saturday, 5/23/2020, the presence of 4 parties, who said that they are looting Iraq’s treasury, pointing out that they are facades for some countries.
Cougar said in an interview with (Baghdad Today), that "the Minister of Finance's recent talk about the presence of pockets in the state, out of control, spending billions annually, is not a secret but rather a known and known matter to public opinion," stressing that "the problem in Iraq is diagnosed from a period that is not Few, but we need to adopt solutions to confront corruption with vigor and firmness and stop wasting money.”
Cougar added, "The most important files of corruption in the Iraqi countries are represented by border outlets, oil, currency sales, collection, economic offices, space and fictitious projects." The amount of money stolen because of the corrupt.”
Cougar pointed out that "there are 4 sides that plunder the treasury of Iraq, they are people, militias, parties and mafias, most of them are fronts for some of them from neighboring countries, and this explains the inability to address them by previous governments." Easier.”
The Finance Minister, Ali Allawi, said in a televised interview, that "there is supposed to be a unified account for all the state's funds, but there are pockets that are out of control with billions", confirming the existence of "trillions accounts for some ministries."
On a related front, a member of the House of Representatives revealed the alliance of Saireon, Riyad Al-Masoudi, about countries from which smuggled Iraqi money was transferred
Al-Masoudi said in an interview with him (Baghdad today), that "corruption in the country has reached an unbearable level, even if some people have built palaces of the Iraqi people's money
He pointed out that "Iraqi funds that have escaped from the country over the past years fill the UAE, Jordanian, Egyptian, and Turkish banks," stressing that "the recovery of these funds will contribute to building large infrastructure projects LINK
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”
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.
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……
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.”
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!
KTFA Members "Thursday News" 5-21-2020
.KTFA:
Samson: Text of a Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq
Issued on: May 20, 2020
On May 22, 2003, by Executive Order 13303, the President declared a national emergency pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.
The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.
KTFA:
Samson: Text of a Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq
Issued on: May 20, 2020
On May 22, 2003, by Executive Order 13303, the President declared a national emergency pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.
The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.
For this reason, the national emergency declared in Executive Order 13303, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, Executive Order 13438 of July 17, 2007, and Executive Order 13668 of May 27, 2014, must continue in effect beyond May 22, 2020.
Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303.
This notice shall be published in the Federal Register and transmitted to the Congress.
DONALD J. TRUMP
THE WHITE HOUSE,
May 20, 2020.
OlLar: I hope this doesn't really matter , pretty sure it just protects Iraq from creditors.
Samson: Trump: Iraq’s instability continues to pose ‘extraordinary threat’ to US national security
21st May, 2020
US President Donald Trump has extended the national emergency first declared on May 22, 2003 to address the “unusual and extraordinary threat” to America’s national security and foreign policy posed by Iraq’s continued instability.
It commits the US government to continue addressing “obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.”
These obstacles “continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States,” Trump said in a White House statement published on Wednesday.
“I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303,” he added.
The original Executive Order 13303, signed by former US President George W. Bush on May 22, 2003, sparked controversy at the time as it appeared to hand US oil companies blanket immunity from lawsuits and criminal prosecution in connection with the sale of Iraqi oil.
Opponents of the 2003 war accused Bush of removing Iraqi dictator Saddam Hussein in order to open up Iraq’s substantial oil reserves to western companies.
Several executive orders in 2003, 2004, 2007, and 2014 renewed the original national emergency as security conditions evolved in Iraq and the scale and scope of US involvement changed.
Although Iraq has entered a reconstruction and stabilization phase since the 2003 invasion, its 2006-09 civil war, and the 2014-17 Islamic State (ISIS) conflict, its security continues to be marred by insurgency, internal division, structural and institutional weakness, and Iran-backed militia proxies.
Among the most urgent threats is the ongoing presence of ISIS militants and sleeper cells across the country, particularly those operating in areas disputed between the federal government and the Kurdistan Region, where militants have exploited security gaps.
A new Pentagon report published earlier in May warned the group has been given the breathing space to conduct a “low-level insurgency” in territories once under its control, “in mountainous and desert provinces north and west of Baghdad, particularly within an area of northern Iraq claimed by both the central government and the semi-autonomous Kurdistan Regional Government.”
“US CENTCOM in February described ISIS as ‘regrouping and reforming’ in the Makhmour Mountains in northern Iraq, while the 2021 DoD budget justification for overseas contingency operations said that ISIS is expected to seek to re-establish governance in northern and western areas of Iraq,” the Pentagon’s Lead Inspector General Sean W. O’Donnell warned in his report.
Most frequently attacked has been the eastern Iraqi province of Diyala, where 80 of the 250 attacks recorded in the last three months have been reported. The Diyala towns of Baqubah and Khanaqin have been among the deadliest.
Other attacks were reported in the provinces of Anbar, Kirkuk, Nineveh, and Saladin, according to the report. The primary methods of attack were assault, IED use, and assassinations. ISIS also appears to have resurrected its summertime tactic of agricultural arson. The group appears to be exploiting the chaos caused by the coronavirus lockdown to ramp up its attacks.
Despite the continued ISIS threat, the US and other coalition forces have consolidated their positions in Iraq in recent months, handing over control of several military bases to the Iraqi security forces.
The transfers are part of a long-term plan for the coalition to step back from its mission, coalition officials have said – although the COVID-19 pandemic and recent rocket attacks on bases hosting US and other coalition troops by Iran-backed militias are likely to have influenced strategists.
The Iraqi government, meanwhile, seems to have ramped up its efforts to purge isolated areas of ISIS remnants, launching massive sweep-up operations which have uncovered bomb factories, arms caches, and tunnel networks. Although such tactics look good on paper, the thorough, intelligence-based police work required to break up terror cells is broadly lacking thanks to the failure of Iraqi and Kurdish forces to coordinate.
Since the sides clashed in October 2017, the Kurdish Peshmerga has harbored deep mistrust of the Iraqi armed forces and their Popular Mobilization Forces (PMF) auxiliaries. As a result, local knowledge and intelligence networks forged over many years have been squandered.
With Mustafa al-Kadhimi installed as Iraq’s new prime minister, tackling the threat posed by ISIS appears to be high on the agenda. But the new PM also faces a massive economic crisis brought on by the collapse of world oil prices and the coronavirus lockdown, which will hobble his efforts to address the demands of Iraq’s young protesters for jobs, public services, and action against rampant corruption. He is also caught in the middle of a dangerous rivalry between Iraq’s two main foreign allies – the US and Iran – which risks dragging the country into a proxy war.
Trump’s renewal of the national emergency is therefore a recognition of the fragility of Iraq as it combats the insurgency, navigates internal divisions exploited by regional foes, and skirts financial collapse – all challenges which could pose a threat to US national security, foreign policy, and oil interests. LINK
Samson: Kurdistan region announces the holiday
21st May, 2020
The Kurdistan Regional Government announced on Thursday to suspend official working hours in its departments and institutions for five days on the occasion of Eid Al Fitr.
A spokesman for the regional government, Gottiar Adel, said in a statement received to Shafaq News today, that the official holiday of the holiday will start on 5/25/2020 until 5/28/2020.
The Ministry of the Interior of the Kurdistan Region of Iraq announced on Monday the imposition of a comprehensive curfew throughout the region during the days of Eid Al-Fitr, explaining that the ban will begin on the first days of the holiday and continue for up to 72 hours.
The interior minister of the region, Riber Ahmed, announced on Thursday the deployment of the Peshmerga forces and the Kurdish security forces (Asayish) in the streets of the region to implement the comprehensive ban during the days of Eid Al-Fitr.
Ahmed said during a joint press conference held with the Minister of Health Saman Al-Barzanji today, "The dangers of the Corona virus are still continuing, and the new infections recorded in the past few days in Arbil and Sulaimaniya are a source of concern to us and a serious position should be taken towards it."
"I call on citizens not to leave their homes during the days of Eid, because the Asayish and Peshmerga forces are roaming the streets to control and prevent movement," he added. LINK
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Don961: In light of the indicators of deflation and increasing unemployment rates ... "the specter of poverty" is chasing Iraqis and economic measures to overcome the crisis
May 20, 2020 8:51 PM Author: alzawraapaper Baghdad / Pursuing Zora:
The pessimistic expectations regarding the economic situation in Iraq continue, in light of the expansion of the Corona virus and its implications for oil prices globally, which led to expectations of the economy shrinking and increasing rates of poverty in large proportions, because of the near-total dependence on oil as a basis for the general budget.
On the other hand, the United Nations representative in Baghdad, Jenin Henness Blackshart, expected during her last briefing, "the Iraqi economy will shrink by 9.7 percent, with poverty rates rising to about 40 percent in 2020, in addition to expectations of a decrease in economic opportunities."
There is talk in the economic and political circles of a number of measures that the Iraqi government must take to bypass the nation, by selling treasury bonds, borrowing, and raising the dollar exchange rates, as well as the possibility of reducing employee salaries.
While parliamentary sources told "Independent Arabia" that "there is a tendency in the cabinet to issue a decision to change the exchange rate of the dollar."
The sources indicated that "this procedure may take place gradually, but it has not yet lived up to the decision level." Noting that «the purpose of this measure is to raise the price of the dollar against the Iraqi dinar to address the crisis of low cash and reduce the budget deficit».
According to the Parliamentary Finance Committee, Iraq’s oil imports amounted to about $ 5 billion in February, but it started to decline from March (March), when it reached about $ 2.9 billion. In April, it recorded 1.2 billion. Dollars.
Perhaps the continued decline in oil prices, places the Al-Kazemi government facing a major challenge to provide cash and pay the dues of state employees, as well as to address the crisis of poverty and unemployment.
On the other hand, Ahmed Hama Rashid, a member of the Finance Committee in the Iraqi parliament, said:
“We have no data yet regarding increasing poverty rates, but it is certain that the economic crisis the country is going through has increased its rates.”
He added, "Overcoming the financial crisis is very difficult because the public debt has increased greatly, and we pay annually about 16 trillion dinars (about 13.33 billion dollars) of interest and debt installments, and this is considered a complete state budget."
And on the procedures for overcoming the financial crisis, Rashid revealed that "the government sent the first bill for internal and external borrowing, by selling treasury bonds," stressing that "the project reached the Finance Committee as a draft, and in the first session of Parliament it will read the first reading."
He added that «the salaries of the employees for this month will be delayed due to lack of cash, and, according to my information, the Ministry of Finance has indicated that it has no financing.»
For his part, Abd al-Zahra al-Hindawi, a spokesman for the Ministry of Planning, said: "Poverty indicators, according to our readings and expectations, have witnessed an increase during the past two months and the ministry is preparing a study on this matter," noting that "estimates are preliminary indicators that poverty rates may exceed 30 percent." .
He explained, "This is called transient poverty, and it is an emergency that touches the near-poverty line, and they are the workers whose work stopped due to the current crisis and were directly affected." As soon as life returns to normal and they return to practice their work, the problem ends.
And on the option of offering treasury bonds to provide external and internal debt, Jabr pointed out that "it is necessary to borrow to overcome the financial crisis, and internal borrowing is better than the external because its terms are easy and set by the state."
He explained that "internal borrowing will not reach its goals, because the public and non-bank financial institutions will not lend to the state, and this will push for external borrowing, which is tiring and with unfair terms that bear the burdens of future generations." However, we have a financial burden of approximately $ 79 billion, and interest and installments due.
He continued, "Nobody lends to Iraq in light of the current economic indicators, and the International Monetary Fund must interfere by providing guarantees to creditors in exchange for Iraq achieving the conditions of the fund that may increase poverty rates."
Iraq faces major difficulties in facing the financial crisis it is going through, with the increasing fears of large classes in Iraqi society that this decline may increase with the continued decline in oil prices.
Samson: A glance into Sulaimani's foreign exchange markets
6th May, 2020
Sulaimani's Shakawti Mala market is a hub for exchanging Iranian tomans into local currency.
One of three exchange markets in the city, most of the money exchanged here goes to and from Iran, Iraq, Turkey, Dubai and China.
It has been the main market for Iranian tomans since 1991.
Local traders use Iranian counterparts to transfer money from Iran into US dollars.
No cash is handed over at the market; instead, transactions are built on trust.
"They [traders in Sulaimani] have accounts in Iran and tell their Iranian counterparts to transfer the tomans to their accounts, and they will transfer dollars," says Mohammed Haji Qadir, who has been trading at the market since 1991.
"It is based on trust...everyone adheres to [the rules], otherwise they'd be kicked out of the market," he added.
Millions of dollars are traded at the markets every day.
However, due to the instability of the Iranian currency, some traders lose everything.
Fresh sanctions on Iran also affect the exchange rate, Qadir added.
Syrian pounds are also exchanged locally, but their value has plummeted after years of civil war.
The equivalent of $50,000 in Syrian pounds before the civil war is now only worth $1,900.
*****ENGLISH SUBTITLES VIDEO LINK LINK
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Samson: The Russian Central Bank earns $ 6 billion from the high gold
21st May, 2020
The Russian Central Bank won about $ 6 billion in high gold prices in one month, in evidence of the correctness of the strategy that Russia has pursued over the past years by increasing gold reserves.
According to the data of the Russian Central, gold reserves, which are part of its international reserves, rose to a record level by May 1, amounting to 126 billion dollars, an increase of 5%, equivalent to 6 billion dollars from its level at the end of last March.
This increase is due to the rise in world prices, and Russia, which used to be the largest buyer of gold in the world, had stopped buying precious metals in April to stimulate gold exports.
"Last month, it showed that the Russian strategy for buying gold had paid off. The gold reserves support the overall reserves," said Kirill Choyko, head of analysis at BCS Global Markets.
Gold was recently traded at peak prices since 2012, as the Corona pandemic increased demand for the precious metal, which is a safe haven. Over the past five years, Russia has spent more than $ 40 billion on gold purchases, as part of a strategy aimed at reducing the dollar’s share in reserves. LINK
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.
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!