KTFA Members "News and Views" Friday Afternoon 10-16-2020
.KTFA:
Ross: If they RI at 1:1 and if they stay at that rate for say several weeks without a float most people will exchange their IQD just to get off this roller coaster ride. This would save Iraq a ton of money. What do you think ?
DCDriver: IMO it’s about demand once it goes international. Just like the dollar has gains and losses so should the dinar IMO
StephenMac63: If they RI at 1 to 1.... the iqd is already in use inside of the country, what they are looking for is a better value than 1190 it's sitting at now. CBI said the value will be 1 QD will equal 1 USD. That's for the inside of the country.
The Reinstatement.....thats for Iraq to have bragging rights to the world. This will be seen on Forex, CBI website, and at your local bank.
MilitiaMan Thursday Evening "Competition" 10-15-2020
.KTFA:
Samson: Central Bank Governor: We Have Started Implementing The Banking Sector Reform Plan
15th October, 2020
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, confirmed that a few days ago, he presented a vision to reform the reality of the country's banking sector to strengthen the financial stability system based on competition.
The governor of the bank said in a statement reported by the newspaper "Al-Sabah" and its independent newspaper today, Thursday, that "the future vision for the work of the Central Bank of Iraq is centered in light of the economic crisis through the goals that it seeks to achieve and specified under its amended Law No. 56 of 2004, the most important of which is (guarantee) Domestic price stability and the promotion of a stable financial system based on competition), to continue achieving the strategic objectives set out in the 2016-2020 plan.
KTFA Members "News and Veiws" Thursday PM 10-15-2020
.KTFA:
Don961: Reducing the value of the Iraqi dinar against the dollar .. Do I approach and what is the position of the Central Bank?
1,192 Economie 2020/10/15 20:48 ht Baghdad Today - Special
A member of the Parliamentary Finance Committee, Kamal Cougar, confirmed, Thursday, October 15, 2020, that the Central Bank is concerned about the government and parliamentary approach to reducing the value of the Iraqi dinar against the dollar.
Cougar said in an interview with (Baghdad Today), "There is a governmental and parliamentary approach to reduce the value of the dinar against the dollar, but this trend has not been made a final decision on it," noting that "the Central Bank has great concerns about the step of reducing the value of the Iraqi dinar in exchange for Dollar. "
Delta, MilitiaMan and KTFA Members "Final Report" 10-14-2020
.KTFA:
DELTA: Finance Minister Ali Allawi expected the salary crisis to continue, while he presented a number of reasons.
"We are forced to face the problem of salaries" on a monthly basis, "Allawi said in a televised interview that he followed on the eighth day, as oil revenues are no longer sufficient and cannot cover half the value of salaries.
He added that "the amount rounded up from the previous government exceeded a trillion dinars a little, meaning that the current government did not receive only a very small amount of the previous one, and therefore the government came in the month of May and it is loaded with financial burdens, especially how to secure salaries."
He pointed out that "if borrowing exceeds certain figures, it will have negative repercussions on the economic situation of the country, especially with regard to material prices and paves the way for inflation, and it must be with a certain limit, not that the borrowing be endless."
Frank26 Video "HCL", MilitiaMan, and news Tuesday PM 10-13-2020
KTFA:
Frank26: I want to talk to you because I have been told to do so by WALKINGSTICK...
I would strongly advise you to come and listen tonight
I will keep it within 30 minutes ...
Frank26: 10-13-20.........HCL
This video is in Frank’s opinion
KTFA Members "Tuesday News" 10-13-2020
.KTFA:
Samson: The G20 considers measures to support a rapid and sustainable economic recovery
13th October, 2020
The official Saudi Press Agency reported early Tuesday that G20 finance ministers and central bank governors will hold a virtual meeting on Wednesday under the Saudi presidency to discuss how to support a rapid and sustainable global economic recovery
The meeting will also discuss updates to the G20 action plan to support the global economy during the Coronavirus pandemic and the progress made in the G20 initiative to suspend debt service payments and propose an extension until 2021
KTFA Members "News and Views" Monday Afernoon 10-12-2020
.KTFA:
DeepWoodz: Just wanted a quickie sheet of today’s thread before it gets soooo long....
Parliament says no way we are raising the dollar rate against the dinar.
I don’t understand it but we have letters of guarantee from banks to the CBI.
Income tax starting in 2021.
A Dubai expo scheduled for next year. Almost one year from now.
White papers in parliament Tuesday.
International Development Bank and Union of Arab banks gettin frisky.
Comparing revenues in parliament with Kuwait’s revenues.
Cabinet secretariat sent a draft of the borrowing law to parliament.
Cleaned up 3500 more double salaries to the tune of 461 million dinars.
Statement made that they have 4 trillion dinars available to pay salaries but still aren’t.
Sounds real good to me! Imo
MilitiaMan Saturday Evening "They Require the New Rate" 10-10-2020
.KTFA:
Don961: Finance Minister: We will present the white paper for reform to the cabinet next Tuesday
10/10/2020 12:48:03 PM
Baghdad / Al-Masalla: The Minister of Finance, Ali Abdul Amir Allawi, revealed, on Saturday, October 10, 2020, the date for submitting the reform paper to the Council of Ministers and its contents.
Allawi said in a statement followed by the obelisk: "We will present the white paper for economic reform to the cabinet next Tuesday."
He added, "The paper includes a diagnosis of the origin of economic problems and treatments that will be difficult, but there is no alternative to them."
KTFA Members "Saturday News" 10-10-2020
.KTFA:
Samson: Fearing China's supremacy ... global central banks unite to launch a digital currency
10th October, 2020
On Friday, a group of 7 major central banks, including the US Federal Reserve, set out to define what a digital currency would likely look like, to help catch up with a pioneering role for China and outpace private projects such as the stablecoin of Facebook's Libra.
Central banks and the Bank for International Settlements said the key features should include durability, availability, at low or no cost, appropriate standards, clear legislative framework, and an appropriate role for the private sector.
MilitiaMan, Frank and more Friday PM "There Must Be A Rate Change" 10-9-2020
.KTFA:
MilitiaMan: Direct payment of the salaries of defense personnel and other departments
10:37 - 10/08/2020
Al-Rafidain Bank announced, on Thursday, that the salaries of employees of the Ministry of Defense and other departments will be paid.
"The salaries of employees of the Ministry of Defense and other departments have been paid."
The statement indicated that "bank branches are open to continue distributing and completing the exchange process."
MilitiaMan: Let’s look at this a bit closer.. Banks do primary deposits and withdrawals. Not distributing and exchanges per se.. So, did banks open for the masses on a holiday? Or did only essential employees work and if so, for what?
The thinking is from the above, imo there is other things at play. Keep in mind we expect an imminent MR to take place and realize they have been talking about fiscal and monetary policies.
MilitiaMan and KTFA Members "Over Sooner Than Later" 10-8-2020
.KTFA:
Don961: With "lengthy" lines, an economist "detonates" a bomb: Is the salary crisis contrived and there is no deficit?
2020-10-08 Yes Iraq: Baghdad
Economist Imad Abdul Latif, today, Thursday, elaborated on the transmission of a “huge” opinion to what he described as his “professor”, the economist Dr. Ahmad Al-Buraihi about the problem of the government's inability to pay employees' salaries, and clarifying the confusion and confusion between the general budget, the cash budget, and the financial management crisis in Iraq".
Abd al-Latif, in his lengthy explanation followed by Yass Iraq, began by asking: “Is the“ problem ”of the government's inability to pay employees’ salaries a “fabricated”, “fabricated” and immediate problem that is being exaggerated in the short term .. and it is solvable in the long run Al-Taweel .. and that the monetary and financial institutions (and authorities) in the country know the causes and dimensions of this “problem” well, and know (and this is the important thing) that they are able to develop appropriate solutions for them, with the means and resources available to them?